BitMarket

BitMarket
Country Poland
Since 03.03.2014
Website URL Link
Languages
Pairs 2
Affiliate Program No
User Reviews 0 / 0

Michau Enterprises Limited, a Cyprus company that owns AfterMarket.pl, the largest Polish domain aftermarket website with more than 250,000 .pl registered domains, announced on Mar 3, 2014, that it would enter the Bitcoin trading market by opening the world's first Bitcoin exchange (BitMarket.pl) with instant fiat money deposits and withdrawals.

Poland's strong and innovative banking infrastructure allows for instant money transfers among local banks. There are several money transfer systems, such as BlueCash, Express Elixir, PayU and DotPay, that BitMarket.pl uses to make fiat money deposits and withdrawals as fast as cryptocurrency transactions.

The head of Michau Enterprises Ltd. marketing department, Dariusz Litawinski, explains: "With classic exchanges, it takes several days to complete a single transaction, which is too long for the average user. It also requires traders to hold considerable amounts of cash on the exchanges, so that they can promptly react to changing market dynamics. After two or three days, which is how long it usually takes to deposit funds on other exchanges, the trading opportunity is long gone. With BitMarket, a user can deposit money, carry out an exchange and withdraw funds in less than 5 minutes."

Instant fiat transactions translate into higher levels of security, as the amount of funds needed to be kept on the exchange is greatly reduced. The platform has an advanced API which allows traders to code their orders themselves. The API complies with all modern standards, such as hash-based message authentication code (HMAC hashing). Users can protect their accounts with two-factor authentication, all withdrawals require additional confirmations.

According to the official data from BitMarket.pl, the platform charges 1 PLN ($0.33) for electronic fund transfers and 5 PLN ($1.65) for bank transfers, digital currency transfers cost 0.0001 BTC and 0.001 LTC.

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    Current Rates

    The list of supported currency pairs and corresponding rates.

    Pair Rate Δ % Volume Δ V Spread
    BTC/PLN 46259.0045 6.2022 62.5764 77.1716 499.9955
    LTC/PLN 462.0000 2.0994 1.6887 153.7375 0.0769

    Trading Volume

    Distribution of the trading volume involving the supported currency pairs.

    News and Tweets

    Below you can find news and recent tweets related to this trading platform. This information was obtained from various sources.

    Loss of liquidity causes Bitmarket to shut down in Poland

    bitcoinwarrior, Wednesday, July 10, 2019 8:13 AM

    Polish exchange Bitmarket ceases operations on a short notice; cites inability to settle liabilities

    bitcoinwarrior, Tuesday, July 9, 2019 6:06 PM

    Polish Crypto Exchange BitMarket Shuts Down Citing Liquidity Loss

    cointelegraph, Tuesday, July 9, 2019 1:08 PM

    Polish Crypto Exchange Bitmarket Shuts Down

    financemagnates.com, Tuesday, July 9, 2019 9:58 AM

    Polish Crypto Exchange Bitmarket Suddenly Shuts Down

    bitcoins, Tuesday, July 9, 2019 4:52 AM
    news No tweets so far.