Thursday, May 27, 2021

BitBay receives a blow from... the Polish Post

Last week the Polish exchange BitBay boasted about its new service. To meet the needs of its customers, it launched a withdrawal service [...] https://www.pinterest.com/pin/1085437947660215829/

Last week, Polish exchange BitBay boasted about its new service. To meet the needs of its customers, it launched a service for withdrawing funds from its platform in branches of the Polish Post Office. However, the advertising materials used the logo of the postal institution. And here a problem appeared... It turns out that this step was not consulted with the Polish Post itself. The Polish Post, in turn, has demanded that its logo be removed from the promotional materials. What's more, it wants to get a compensation from the exchange for charity. BitBay is to pay the Pocztowy Dar foundation 50 thousand zlotys plus 200 zlotys for each commenced hour of logo use by a Polish cryptocurrency company, counting from 13:00 on March 14, 2019. If the platform does not pay the money, the Post Office is expected to take legal action. The whole "affair" in the media was explained by Justyna Laskowska of BitBay. She herself believes that "there was a misunderstanding". She tries to emphasize that on the action of the exchange post offices could only benefit, because it was to encourage users of her company to use the services of the Polish Post. The company has never concealed that the actual provider of postal services is Payment Technology. As BitBay's co-founder Sylwester Suszek admitted in the media, the exchange serves over a million customers, most of whom are from Poland. Hence, the introduction of the ability to withdraw at the post office is another interesting tool associated with the platform for this group. The plight of the Polish stock exchange BitBay - despite being the largest Polish cryptocurrency exchange - has quite a hard fate. The platform has already made it to the KNF's list of warnings. Certainly, this type of event caused the company to be headquartered in Malta today. Thus, the exchange has become another Polish company from the digital currency market, which formally operates outside the borders of our country. How to make a withdrawal from BitBay in the Post Office?   Log in to your account on BitBay. Go to the "Wallets" tab, select a currency, and then the "Withdrawal at the Post Office" option. Enter the value of the withdrawal. This cannot include pennies. Within 10 minutes of requesting a withdrawal you will receive an email with your PIN and an SMS with the PUK code to the phone number you provided during account verification. Both codes are valid for 48 hours. To collect the cash go to the nearest Polish Post office. You can choose from as many as 4,500 cash desks (including ones open 24 hours a day).  Remember that you will not be able to make the withdrawal in a post office agency. At the post office you have to declare your willingness to collect the cash withdrawal, showing the sent codes and identity document. Tags bitbay cryptocurrency exchanges cryptocurrencies Polish Post Office withdrawal of funds

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