Bitmarket makes its way to the Polish Bitcoin exchange business

Thursday 27 March 2014 13:21 CET | News, a Bitcoin exchange, has announced its launch in the Polish market, CoinDesk reports.

Michal Pleban, co-owner of the exchange, clarifies that while the funds of the exchange owners are deposited in hot wallets, the customers’ funds are being placed in cold wallets.

Pleban informs that the exchange has recently been launched, but it operates as an offshoot of, the major domain aftermarket website in Poland, with more than 250,000 .pl domains in its portfolio. The security measures employed by are multilayered and based on two-step authentication.

The company requests fees for withdrawals of funds from user accounts which are, currently, USD 0.3 (PLN 1) and USD 1.6 (PLN 5) for electronic fund transfers and regular bank transfers, respectively, and 0.0001 BTC and 0.001 LTC for digital currency transfers, according to data from

The exchange is owned by Luxembourg-based EuroDNS, which has a share capital of EUR 540,000, according to figures released by company representatives.

Bitcurex, a Polish Bitcoin exchange, shut down its site temporarily on 14th March 2014, following a hack that targeted funds in its users’ Bitcoin wallets. The site resumed service on 18th March 2014 after stating that the perpetrators did not manage to break its security measures and gain full access to its operational hot wallet. is another case of fraud victim business that was hacked in November 2013 and its customers’ bitcoin and litecoin wallets were emptied.

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Keywords: Poland,, Bitcoin Exchange, virtual currency, online payments
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce