Launched in January 2020, Bitspay is a centralized exchange based in Estonia. It is regulated by Estonia under the Anti Money Laundering Counter-Terrorism Financing Act 2019. Its geographical focus is on Australia, New Zealand. and Singapore. Citizens from 30+ countries are permitted to join. In January 2020, it launched in Estonia and aims to become a major licensed cryptocurrency exchange.
Bitspay describes itself as a pro-regulation exchange with a focus on trust and security.With mandatory KYC and tiered trading fees, its services are available to individuals, businesses, trusts and Self-Managed Superannuation Funds.
1. Decentralized Exchanges (DEXs) ( Best Alternative To Bitspay )
Decentralized exchanges (DEXs) are a type of cryptocurrency exchange that allows users to trade cryptocurrencies in a decentralized manner. Unlike centralized exchanges, which are run by a single entity, DEXs operate on a distributed network of nodes, making them more resistant to censorship and hacking attempts.
Below We Include Some popular DEXs Alternative To Bitspay Exchange
1- ProtoFi (Bitspay Alternatives Without Verification)
The First User Owned Decentralized Bank Meet the next generation of decentralized banking and the most advanced yield farming protocol on the Fantom network. Meet the next generation of decentralized banking and the most advanced yield farming protocol on the Fantom network: The ProtoFi Ecosystem.
In its current iteration, ProtoFi is an innovative Automated Market Maker and Yield Farming protocol that allows investors to become owners and earn dividends by owning a share of the protocol itself. It can be thought of as a bank that offers savings accounts which continuously grows your deposit by paying out interest, also allowing you to gain further profits by earning a share of all the revenue generated by the ProtoFi protocol. This is achieved through a dual token system, the PROTON token, and the ELECTRON token.
2- Terraswap (Bitspay Alternatives)
Launched on November 13, 2020, Terraswap creates automatic, decentralized markets enabling users to exchange assets directly on the Terra blockchain.Terraswap serves as a smart contract interface to exchange native Terra assets (LUNA, UST, KRT, etc.) and user-defined CW20 tokens. Terraswap also provides an interface for users to become liquidity providers by depositing assets to Terraswap pools.
Terraswap is a community dex. Terraswap team does not make any financial profit from it. We built Terraswap to support the community because they do believe devotion makes the community stronger. Please support Terraswap and the team by delegating to DELIGHT!
Your delegation is a huge support to running Terraswap for the community. Please support Terraswap and the team by delegating to DELIGHT! Your delegation is a huge support to running Terraswap for the community.
3- KSwap (Bitspay Alternatives)
KSwap Finance (https://kswap.finance) is a decentralized trading platform deployed on OKExChain on July 29, 2021. Aiming at a top DEX on OKExChain, KSwap Finance enables the seamless transferring of digital currencies among users via a well-developed automatic maker algorithm (AMM). It is also the first to launch products such as KUniverse and KStarter to explore more ways to play and meet the needs of more users.
KSwap Finance always attaches particular high importance to platform security and functionalities. Its products have been demonstrated to be well-functioned on the test net. Since its launch on the test net as early as February (2021), KSwap Finance has drawn heightened interests from blockchain communities. Only in April, KSwap grows terrifically, with an over 500% increase in total liquidity. An increasing influx of users has chosen to test various mature and new features on Kswap Finance to be better positioned for the official reception of OkExChain.
Best Centralized Exchange Of Bitspay Alternative
1- One of the best alternatives to LiteBit.eu is Bitspay
LiteBit was founded in 2013 and is a platform where cryptocurrency can be traded easily and securely. The platform is set up to buy, sell, and manage cryptocurrency. At an exchange, cryptocurrencies can only be traded for other cryptocurrencies. With LiteBit, cryptocurrencies can be purchased directly with euros and paid for with the most widely used payment methods such as credit card, iDeal, Bancontact, Sofort, Giropay, and SEPA.
LiteBit is the place where your crypto trades are safe. Store your cryptos safely in your own wallet. They want to make it as simple as possible for you. Buy Bitcoin and other crypto in a fast and easy way with reliable payment methods. The customers deserve the best possible service. They deeply care about your needs and are always looking forward to get in touch with you.
2- Another popular alternative to Bitspay is Dcoin
Established in March 2018, Dcoin is a global trading platform for digital assets and derivatives. Dcoin adopts the finance-industry standard, the world’s leading technical framework, efficient matching, and project selection to give the ultimate trading experience for users. Dcoin works toward becoming one of the most popular and trusted cryptocurrency trading platforms, currently providing value-added services to more than 3.5 million users in more than 110 regions around the world.
The Dcoin digital asset and derivatives trading platform is the world’s first financial-grade digital asset and derivatives trading platform. It mainly provides a series of blockchain digital assets such as BTC(Bitcoin), ETH(Ethereum), LTC(Litecoin), XRP, BNB, etc. The currency trading service was founded by blockchain and digital asset enthusiasts. The core team is from Google, Amazon, Facebook and other world-renowned Internet companies, and investment institutions include JRR Crypto, CollinStar Capital, etc.
3- Another popular alternative to Bitspay is ProBit
ProBit (www.probit.kr) describes itself as a Korean fiat-to-coin cryptocurrency exchange. ProBit only lists what it deems to be ‘qualified and deserving’ cryptocurrency projects. ProBit reportedly has an order matching speed of over 1.5 million orders per second and a customizable user interface. In addition, ProBit claims to provide users with the option of a hardware security key in addition to 2 Factor Authentication.
4- Luno is another alternative to Bitspay
Founded in 2013, Luno is a global cryptocurrency exchange and wallet provider headquartered in London, with regional hubs in Singapore and Cape Town. To date, Luno has processed more than USD$14 billion in transactions and has over 5 million customers spanning 40+ countries. Luno is an independent operating subsidiary of Digital Currency Group.
Luno’s vision is to ‘upgrade the world to a better financial system’. Through Luno’s instant buy/sell feature, customers are able to purchase crypto with their local currency, or trade across 25 crypto to fiat pairs on the Luno Exchange (also available through the Luno API).
Luno ensures that 95% of its crypto is stored in “deep freeze” multisignature wallets protected by various encryption layers. Luno works with regulators in the markets in which it operates (Malaysian operations are regulated by the Securities Commission Malaysia) and supports progressive regulation of the cryptocurrency industry. Luno has implemented robust AML/CFT measures, which include a mandatory, tiered approach to KYC, registration with local financial intelligence authorities, and the reporting of suspicious activity and transactions.
About Crypto Exchange
A crypto exchange is a platform where users can buy, sell, and trade cryptocurrencies. These exchanges can be centralized, meaning they are operated by a single company, or decentralized, meaning they operate on blockchain technology and are not controlled by a single entity.
Some popular centralized crypto exchanges include Binance, Coinbase, and Kraken, while popular decentralized exchanges include Uniswap and Sushiswap.
The exchange rate of a cryptocurrency on a specific exchange is determined by supply and demand on that platform. Some exchanges also offer additional features such as margin trading and staking.
Why Bitspay Popular
Bitspay is a popular payment processing platform because it offers a wide range of features and services to its customers. It allows merchants to accept payments in multiple currencies, provides instant payments, and offers customers a secure and convenient way to pay. It also offers a variety of tools and integrations that make it easier for merchants to manage their payments. Additionally, Bitspay is a secure platform that is compliant with all of the major payment card networks and is PCI DSS certified. This ensures that customers’ data is kept safe and secure. Finally, Bitspay is backed by a team of experienced professionals who provide customers with around-the-clock customer service and technical support.
Why Bitspay Not Good Choice For Some Users
While Giottus is a popular choice for many cryptocurrency traders in India, there may be some reasons why it may not be a good choice for certain users. Here are a few potential reasons:
- Limited Geographical Reach: Giottus is currently only available in India. Therefore, users outside of India cannot use the platform to buy, sell or trade cryptocurrencies.
- Limited Cryptocurrency Options: While Giottus offers a wide range of cryptocurrencies, some users may find that the platform doesn’t support their preferred cryptocurrencies.
- Deposit and Withdrawal Methods: Giottus only supports a limited number of deposit and withdrawal methods, which may not be convenient for some users.
- Regulatory Concerns: Cryptocurrencies are not yet regulated in India, and there is uncertainty around the future regulatory framework. Some users may be hesitant to use Giottus or any other cryptocurrency exchange due to the lack of regulatory clarity.
- Limited Trading Options: Giottus only offers spot trading, which means that users cannot trade on margin or use other advanced trading options that may be available on other platforms.
It’s important for users to consider their specific needs and preferences when choosing a cryptocurrency
How to Choose best crypto exchange?
Choosing the right crypto exchange can be a daunting task, as there are many options to choose from and each has its own set of pros and cons. Here are a few things to consider when choosing a crypto exchange:
- Security: The security of your assets should be a top priority when choosing an exchange. Look for an exchange that has a history of good security practices and has never been hacked.
- Jurisdiction and regulations: Some exchanges are not available in certain countries due to regulatory restrictions. Make sure the exchange you choose is available in your country and complies with the local laws and regulations.
- Fees: Compare the trading fees of different exchanges to see which one offers the lowest fees. Also, consider the deposit and withdrawal fees as well.
- Payment methods: Some exchanges only accept cryptocurrencies for deposit and withdrawal, while others also accept bank transfers, credit cards, and other methods. Make sure the exchange you choose offers a payment method that is convenient for you.
- Coin offerings: Not all exchanges offer the same coins and tokens. Make sure the exchange you choose offers the coins you want to trade.
- Trading volume: Exchanges with high trading volume typically have more liquidity, which means it’s easier to buy and sell coins without affecting the market price.
- User-friendly interface: Look for an exchange that has a user-friendly interface and offers helpful features such as charting tools and order book.
- Customer support: Good customer support is important in case you have any issues or questions. Look for an exchange that offers multiple ways to contact customer support, such as email and live chat.
- Reputation: Look for an exchange that has a good reputation in the community, and has been around for a while.
- Remember to do your own research, read reviews and check the reputation of the exchange before making any decision.
Bitspay Alternative Conclusion
Bitspay is a great payment processing service that allows businesses to accept payments in a variety of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more. It is easy to use, secure, and offers low transaction fees. The service also offers a variety of options for businesses to customize their payment experience.
However, there are a few potential drawbacks to Bitspay, such as the lack of support for certain altcoins and the lack of customer service. If you are looking for an alternative to Bitspay, there are several good options such as Coinbase, Bitpay, and GoCoin. Each of these services has its own advantages and disadvantages, so it is important to do your research and find the best fit for your business.