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.”
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.