European Crypto Exchange BitBay Says Business Is Booming in March

European Crypto Exchange BitBay Says Business Is Booming in March
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Source: a screenshot, Instagram/bitbay.

Eastern and main Europe-focused cryptocurrency exchange BitBay says that bitcoin (BTC) trading volumes have actually struck record levels in the past 2 weeks.

In the past fortnight, the platform’s volume of the BTC-Polish złoty (PLN) set struck a peak of BTC 11,233 (USD 75 million) in 24 hours on March 13, a brand-new record level forBitBay Bitcoin-euro volumes likewise strike record levels of BTC 223 on March 18.

And the platform says that its record- breaking efficiency was likewise made possible by the business’s quick shift to remote working options as the coronavirus continues to interrupt companies throughout the country.

“We have observed a significantly higher number of user registrations in recent days,” Sylwester Suszek, CEO of BitBay, informed, declining to define.

On March 25, BitBay’s 24- hour volume was around USD 40 million, per Coinpaprika information.

Trading volume on BitBay:

The exchange was developed in Poland, which was its first market prior to broadening to the broader Central and Eastern European location. BitBay moved its head office to Malta in 2018.

Suszek says that BitBay has actually had the ability to accommodate increased interest from traders owing to its organizational flexibility, and says that it made a fast switch to remote work in a quote to secure the health of its personnel.

He specified,

“Since the first coronavirus infections began, we foresaw the possibility that quarantine measures could be introduced.”

As news of the pandemic’s spread broke, BitBay says it moved its team into remote work mode: “We have actually presented a variety of enhancements to our internal procedures, and we likewise performed extra training for our staff members to reach greater [operational] flexibility.”

Likewise, on March 17, BitBay contributed around USD 23,535 to the Provincial Professional Healthcare Facility Megrez in Tychy, Southern Poland– a medical center that specializes in dealing with transmittable illness. The healthcare facility will utilize the funds to fund the purchases of medical equipment and hygienic materials.

The CEO added that the exchange likewise started running an online fundraiser recently.

“The money from this initiative will be used to buy medical equipment that is necessary to treat those who are infected with the coronavirus, and also to buy sanitary supplies for doctors and medical personnel,” he stated.

The effort has actually up until now raised around USD 15,149

The post European Crypto Exchange BitBay Says Business Is Booming in March appeared first on World Weekly News.

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