Crypto Exchange Bitbay Passes Audit Under Estonia’s Tougher New Regulations
Bitbay has become a fully licensed cryptocurrency exchange in Estonia which introduced stricter rules for the industry last year. The European trading platform has recently passed an independent audit that confirmed its “solvency, security and fiscal responsibility.” Audit Examines AML and KYC Procedures at Bitbay Bitbay, a leading crypto trading platform in Europe, is now a fully licensed and regulated exchange under Estonia’s stringent regulations imposed last fall. The company has been audited by an independent third party which thoroughly examined its accounting....
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BitBay went down at approximately 4:28 PM UTC today. Estonia-based cryptocurrency exchange BitBay went offline for almost two hours on Monday without explanation.According to a tweet posted by BitBay on Oct. 12, the exchange went down at approximately 4:28 PM (UTC) today before resuming trading at 6:10 PM. BitBay posted an update before it had resolved the unnamed issue, announcing its plan to launch the platform with “the blocked possibility of transaction processing.” Users had 30 minutes to cancel offers posted on the exchange shortly before it went offline. This incident is BitBay’s....
Having launched just back on March 29 of this year, Bitbay is not a well-known Bitcoin and Litecoin exchange but it is already considered the most developing and promising exchange in its region, gradually attracting more and more traders from all over the world. Bitbay operates as a registered, limited-liability company headquartered in Katowice, Poland with a dedicated customer service office. Security-oriented, Bitbay offers best solutions to safety issues, with cold wallet asset storage and two-factor authentication (provided by Rublon) among them. The company is self-funded and one of....
Bitcoin exchange Kraken has passed a cryptographically verifiable proof of reserves audit with flying colours. The audit, which was carried out by Stefan Thomas on 11th and 22nd of March, proved that more than 100% of Kraken's bitcoins are held in reserve. The process was designed to allow the auditor to verify that the total amount of bitcoins held by Kraken matches the amount required to cover an anonymized set of customer balances. Covering all balances. Thomas said the audit was very strict, but at the same time it maintained "absolute privacy" for customers. He also added that Kraken....
PRESS RELEASE. Yield App, one of the rising and most trusted digital wealth platforms, recently underwent a thorough ‘proof of reserves’ audit. The inspection was conducted by Armanino LLC, the firm responsible for auditing Kraken – one of the largest and most trusted cryptocurrency exchanges in the world.
Yield App passed the audit with flying colors, bolstering its stance on safety and accountability of the assets deployed by customers into portfolios available on its platform.
What is ‘proof of reserves’?
A proof of....
BitBay is one a mission to bring not only Bitcoin, but also Ethereum trading to Poland. Thanks to a variety of trading markets, users can trade ETH against PLN, Bitcoin, EUR, and US Dollar. All in all, this seems to be very positive news for Ethereum, as the Ether token becomes more widely available. Even though it is rather easy and somewhat convenient to trade Ethereum across the major exchanges already, it is always good for to see more localized platforms expand their business. In the case of BitBay, a Polish digital currency exchange, the addition of Ethereum will hopefully help put....