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.
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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