Everyone is familiar with eBay – an e-commerce corporation where people can buy or sell anything. BitBay closely resembles that with a few differences. It is a marketplace but runs on smart contracts removing any third parties, making Bitbay decentralized and free of manipulation.

The team behind BitBay led by David Zimbeck is diversified with representatives from countries like England, USA, France, Columbia, Mexico, Hong Kong, South Korea, Japan, Latvia, and Brazil.

The platform implements something called a double escrow system. That means both the buyer and seller put a deposit before the actual transaction and if one of them screws up both lose their deposit. Unlike eBay where to buy a product you have to bid in an auction, BitBay provides sellers with numerous templates to customize their contract, and the seller can decide to auction, exchange or barter their goods. Also, the platform is free of charge with no transaction fees.  You can buy BAY tokens on Bittrex or Upbit. Currently, BitBay is ranked 209th, and there are 1, 012, 044, 246 BAY in circulation.

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