Users note fast exchanges, reliable storage of funds, convenient mobile application and fast withdrawal of earnings. Users name the possibility of staking as a special advantage of the exchange (How to make money on steaking) and receiving referral fees. Traders are also happy with the possibility of funding their accounts with fiat currencies. In general, we can say that Beaxy crypto exchange can easily reach the top of cryptocurrency exchanges, offering traders favorable and transparent working conditions. This exchange allows users to buy, sell, store, and trade crypto assets and fiat currencies, including over 40 trading pairs with several fiat currency-based pairs.
- Regardless of how long the domain has been active, its age remains an important indicator of the company’s trustworthiness and resilience in the digital space.
- Also, discounts on trading commissions are provided for holders of the crypto exchange token – BXY coin.
- After your transfers have been confirmed you are free to trade on the exchange.
- In total, Beaxy is selling 60% of the tokens and there is a soft cap of $4.2 million and a hard cap of $ 19 million USD.
Features
Cryptocurrency exchange beaxy.com offers bonuses and discounts to both new users and registered traders. In summary, we think the Beaxy exchange and trading platform would serve most crypto traders well, but it is far from the best. Its unique Trender service, however, could make it a good stepping stone for new traders, so it’s a platform still worth considering if you’re just getting started in your trading journey. When it comes to the Trender trading signal services, it’s difficult to say how well it works without an extended period of time using it.
The order panel and trade history are placed on the left, while the right is reserved for the order book. You can find additional trading pairs at a handy drop-down menu, including a search bar for ease-of-access. Security measures are one of the most important factors you should be looking at when choosing an exchange.
Tradersunion.com does not provide any financial services, including investment or financial advisory services. Also, the Traders Union is not a broker and does not get money for trading in the Forex or CFD markets. Our website only provides information on brokers and the markets and helps its users to select the best brokerage company based on detailed information and objective analysis of brokers. Some of the rewards include up to 30% back in trading fees (in BTC), offers personal customer support, and awards BXY token (Beaxy’s utility token) according to your trading volume. Beaxy offers a competitive fee structure that is in line with most of the crypto market. As with other exchanges the fees get lower the more volume you trade and the more of their proprietary token you hold.
The platform offers traders several types of orders to maximize profits during exchange (How to make beaxy exchange review money on cryptocurrencies). The Beaxy trading interface is more than satisfactory, with low trading fees and considerably more order types than most other crypto exchanges, but it is severely lacking in markets. The project held an Initial Coin Offering (ICO) which ran until September 2018 with an excellent amount raised equaling $3 million. This exchange is available in 185 countries and 43 United States states and offers a referral program, which allows you to refer friends to the exchange and receive 10% of their trading fees for their account’s lifetime.
This includes their native token Beaxy Coin (BXY), which we will look at in the fees section. Among these, security, performance, low trading fees and 24/7 support are the ones we deem most important. Naturally, referral programs and options to customize the trading experience are also positive.
Fees
We analyzed the registration date of the Beaxy Exchange domain to assess its stability and reliability. Regardless of how long the domain has been active, its age remains an important indicator of the company’s trustworthiness and resilience in the digital space. Truthfully, integrating the Hummingbot will probably be too inconvenient or complicated for most to endure, but it’s a great option for serious algo traders nonetheless. The Beaxy exchange interface is fairly advanced, with charts powered by TradingView, eight different order types, and state-of-the-art order books. If you want to learn all its services and whether or not you should create a Beaxy account, stick around for this in-depth Beaxy review. One more thing worth noting is that Beaxy is in the final stage of discussions with Optiv, a cybersecurity giant.
- Users can also earn a portion of trading fees by locking up PLS tokens and onboarding friends onto the platform via the referral program.
- Now, select your country of residence and also submit a picture of your National ID, driving license or passport.
- In order to pay your fees with BXY, click on your profile, and select “Fees”, then move the “Pay with BXY” slider button to the “On” position.
- Mittal is a full stack developer that has worked for IBM software labs as a Rational Product Developer for 4 years.
Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and Beaxy in couple of digital marketing agencies. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. Information on the TradersUnion.com website is for informational purposes only and does not constitute any motive or suggestion to visitors to invest money. Moreover, we hereby warn you that trading on the Forex and CFD markets is always a high risk. According to the statistics, 75-89% of customers lose the funds invested and only 11-25% of traders earn a profit.
If you are able to afford to hold a half million BXY then you have no trading fees to worry about. However, users who choose to pay their trading fees in BXY tokens receive a 50% reduction and pay a fee of 0.1%, and anyone participating in the exchange’s Staking Program can reduce their fees by an additional 25%. Market makers are being encouraged to use the exchange and are exempt from trading fee commissions. In order to pay your fees with BXY, click on your profile, and select “Fees”, then move the “Pay with BXY” slider button to the “On” position. These include high trade processing speeds, advanced order types, high grade security protocols, loyalty and referral programs and 24/7 customer support.
Cryptos (
Our ratings are based on our objective rating criteria and methodology; and the results are always equally and fairly applied to each broker. The work of our content authors and research groups does not involve any interaction with our advertisers and they do not have access to data concerning the amount of advertising purchased. For over 10 years we consider our independence, absolute openness, and objectivity as our main priority.
Customer Support: Are They Responsive?
With operating an unregistered exchange and brokerage, the agency said Wednesday in a statement. Beaxy Exchange is safe, though it has had an issue in the past where their system was exploited and resulted in the loss of 44 Bitcoins and 111,000 Ripple. Users are encouraged to enable Two Factor Authentication (2FA) and they make a point to point out phishing scams to avoid. Beaxy utilises a simple to use and intuitive UI, which is customizable and includes scrolling ticker settings for speed, visibility, and favorite pairs.
Cryptoexchange Commission
Beaxy allows you to have multiple wallets for each currency; however, your funds will only be deposited to the wallet set as default, and you can then transfer freely between your internal wallets. After your transfers have been confirmed you are free to trade on the exchange. From here, you can select which document you wish to use to verify your identity, and acceptable forms include a Driving License, a National ID, or a Passport. It’s worth noting that users based in the USA cannot use a passport for verification due to state-specific laws, and must use a valid driver’s license or state ID.
What Does Beaxy Exchange Offer?
However, like everything else, for this to really shine, you need actual trading volume. He has a keen and vested interest in cryptos involving decentralized backend exchanges, payment processing, and power-sharing. It is not an offer to buy or sell any security, product, service or investment.
Beaxy Security
The loyalty rewards payout for this day will be $2,500, and this balance is displayed on the Loyalty Rewards page as a “Pending Balance”, and changes everyday once the calculations are performed at midnight. The exchange also incorporates the ERC20 BXY Token which allows users to participate in staking in order to receive a 50% discount on trading fees. Current regulatory guidance requires crypto providers to register as money service businesses (MSBs) with FinCEN and meet individual state registration requirements. Guidehouse can assist crypto providers in the pre-registration phase to obtain an MSB license from FinCEN and/or individual state licenses, including the New York State Department of Financial Services BitLicense. If there are changes to U.S. regulations requiring crypto exchanges to register with the SEC, Guidehouse is positioned to assist crypto providers to meet these new requirements. Securities and Exchange Commission charged the company and its founder, Artak Hamazaspyan.
The team behind the platform, lead by CEO Artak Hamazaspyan and CTO Mittal Patel, has proven very transparent. Beaxy also incorporates its native BXY token, allowing users to participate in staking to receive a 50% discount on trading fees. BXY token itself is an ERC 20 token and gives users of the platform many other benefits, such as loyalty rewards and coin staking. Of course setting up an account for buying and trading cryptocurrency will take a little bit longer because Beaxy requires users provide some amount of personal identification to avoid money laundering. Beaxy is a new exchange that looks to be one of the most promising up-and-coming exchanges on the market, bringing many new features and a high-performance trading engine to market with a smooth user interface. The platform is set out in a way that makes it easy for new users to get acquainted.