Cryptocurrency Exchange BitBay Launches Free Fiat Exchange Service, Adds Omisego (OMG) and Golem (GNT)
Cryptocurrency exchange BitBay is launching a fiat currency exchange.
Users of the platform will no longer need to send funds to external services to exchange euro, US dollars or Polish złoty. The fiat exchange service allows a user to instantly convert, for example, any amount of EUR to USD and make a transaction. This gives traders the flexibility to leverage currencies that have the best trading-pair value against Bitcoin.
The fiat currency exchange service is free with 0% commission.
BitBay also announced that it’s adding OmiseGo (OMG) and Golem (GNT).
Golem is a worldwide supercomputer that aggregates computing power from every machine on its decentralized network to create a peer-to-peer marketplace for computational resource. Its Ethereum-based token (GNT) is used to pay for computing power.
OmiseGO is a payment platform and decentralized exchange running on the Ethereum blockchain and designed to “unbank the banked.”
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To use the fiat exchange service, users will need a verified BitBay account. The minimum exchange values are 25 PLN / 10 EUR / 10 USD.
Earlier this month, BitBay announced that it’s moving its operations from Poland to Malta. It will join other cryptocurrency exchanges, such as a Binance and OKex, that have made the move to Malta amid a more welcoming environment for blockchain-based businesses.
BitBay also recently added fiat-to-crypto trading pairs for Monero and Zcash.
The company reports that it has 800,000 users worldwide serving 51 markets.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin or cryptocurrency. Your transfers and trades are at your own risk. Any losses you may incur are your responsibility. Please note that The Daily Hodl participates in affiliate marketing.
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