Get some $BAY
2. Purchase coins in the BitBay client!
Thanks to our unbreakable contracts, users can purchase coins right in the client peer to peer. Sellers do their own KYC (know your customer) and now everyone has the perfect alternative to centralized institutions. No need to buy Bitcoin to acquire BitBay and no meeting in person or dealing with risky escrow agencies like LocalBitcoins.
The Buy/Sell coins templates is available on the programs home page. When you open it, there is options to set a specific price or track the market price. This makes everything extremely easy. Buyers can post offers and quickly find sellers. You can also locate sellers in the BitBay marketplace. The template sets recommended deposits and time limits so you don’t have to. Payment options such as Western Union, MoneyGram, Bank Wire, Prepaid Cards, and other options are available for one of the most secure fiat gateways in the world.
3. Staking in your wallet
You can earn BitBay by finding blocks and helping secure out network. Both our QT wallet and Markets wallet supports this. The Markets wallet also supports cold staking which is a much higher security staking system similar to two-factor authentication.
In the markets wallet, simply have your coins in your unlocked wallet and make sure staking is enabled in the program settings. Once coins are sent to the wallet, you should break for change so you can stake consecutive blocks. Two hours after your coins mature, they will become eligible for staking and finding blocks. The time it takes to find a block depends on the amount of coins you are staking. You can estimate this by assuming you will receive 1% per year. So 700,000 coins should receive 7000 coins per year securing you a block every day. However, this reward can be much greater if less people are connected. Statistically, usually less than half the network is staking so a user may receive up to 5% interest per year.