Beaxy is operated by the firm, Beaxy Digital Ltd. which is registered in the Caribbean Islands. What makes it standout among the other crypto exchange companies is its claim at bridging cryptocurrency trade and legacy finance. Beaxy claims to offer top tier technology in facilitating its trades. On the onset, what the review team could confirm is the exchange’s dedication in upgrading its the technology that it uses to execute its transactions. It’s also worth noting that Beaxy operates a loyalty reward program that incorporates the PLUS Token (PLS), an exclusive token to the Beaxy exchange.
- Additionally their market makers routinely pull their orders from the already thin books, so using stop orders is asking to get your position sold off far below market price.
- It has a customizable interface and special setting in Night mode and Day mode for round-the-clock trading.
- Also, discounts on trading commissions are provided for holders of the crypto exchange token – BXY coin.
- While working on the service you don’t sell or buy cryptocurrencies from Beaxy Exchange.
- It’s a highly customizable user interface with a developer’s kit attached to it.
- The platform offers traders several types of orders to maximize profits during exchange (How to make money on cryptocurrencies).
This order book contains buy and sell orders on an asset, which are then matched by the engine to complete the transaction. Once your trade is executed and complete, you will receive the crypto in your wallet. For users who want to buy or to sell Bitcoin, it must be noted that this digital asset takes longer to process compared to the likes of Ethereum.
Beaxy Exchange sets the bar
With the new Beaxy Cryptocurrency Exchange, traders will benefit from operational efficiencies, constant innovations, and an empowered financial freedom. All of these in a forward-looking exchange that takes into account client experience and an open approach to new technologies. They have since become one of the most widely used exchanges with 35,000,000 total users. In December 2020, Coinbase announced that it would be the first cryptocurrency exchange to be listed on U.S. stock markets. This allows Beaxy to provide solutions for high frequency traders and the platform is designed to scale and is already able to handle 225,000 transactions per second. In the future, the team aim to add OTC trading capabilities, margin trading, and portfolio management features that will appeal to a variety of traders.
Why use Beaxy
You have the right to create only one account and only for personal use. Order books contain orders to buy or sell an asset that are determined by exchange users. Orders are matched by the exchange matching engine to produce completed traders. Download the Beaxy crypto trading app and trade your BTC and access markets anytime and anywhere.
The KYC Protocol
Our cryptocurrency exchange was built to bridge the gap from legacy finance to the crypto powered economy while maintaining a tradecraft constructed over decades of experience in legacy markets. Register an account today to start trading over 37 different cryptocurrencies including some of the best performing assets in history like Bitcoin and Ethereum…. Beaxy is still a young and rising cryptocurrency exchange but it already offers high-class services beyond its years. It employs beneficial services through partnership with different providers to continually provide and revolutionize their client services.
And the application for Beaxy Black hardly seems worth it unless you are a die-hard, high-volume Beaxy trader. To apply, you must fill out an application, have a fully registered and funded account (deposit funds), and trade a minimum of $2,000 worth of crypto each week. For each person you refer to the program, you’ll receive extra percentage points for any transaction fees collected throughout their trading. Beaxy surprisingly only supports a handful of USDT and USDC pairs as most of its trading pairs are with BTC. This online crypto trading platform has the main office at this address, E Jackson Blvd, Chicago, Illinois 60604. I would love to see a live chat instead of the chatbot as it’s just not enough in many cases when more difficult issues arise.
How to mine Beaxy?
You can only trade your BXY tokens for this token and when you receive it you can lock them up for a certain time, which will get you a percentage of your trading fees back. The fees on the Beaxy exchange are fixed at 0.2% of whatever you deposit, however, the BXY token allows users to reduce their fees by up to 50%. There is also an option to earn a portion of trading fees by locking up PLS tokens and onboarding friends onto the platform via the referral program. There is also another way to get discounted trading because with the staking program, you will have the option to lock up some of your BXY tokens to receive a discounted trading fee.
Beaxy has a very good platform with all tools that you could ask for. New traders will be able to trade as the platform is very easy to use and more experienced traders will be able to take advantage of more complex order selections. The chart is made by Tradingview which guarantees top-tier charting all the time. The trading interface is customizable and can be moved around as you like. If disputes arise, the parties must resolve them through pre-trial proceedings.
Beaxy is also sporting a custody wallet to help you securely store your crypto tokens. More so, when you place your first order, you will be thrilled to use additional order types apart from the regular limit and market orders. Complete your first transaction by choosing order type, price, and amount. It employs several levels of security to avoid phishing, data tampering, and wallet hacks. For one, it uses two-factor authentication to secure transactions and sensitive customer data. For another, IP whitelisting is also part of the firm’s security measures for customers.
After generating an address, you’ll see the standard QR code and alphanumeric string. Either of these two features can be used to transfer funds from an existing wallet. However, your funds will only be deposited to the wallet set as default, and you can then transfer freely between your internal wallets. To deposit funds on Beaxy, click on the “My wallets” tab at the top right of the screen, and select your preferred currency.
Beaxy Key Features
After inviting a friend to the platform you will receive 30% from his trading commissions. You can track the number of referrals and the amount of earnings in your personal cabinet. The project held an Initial Coin Offering (ICO) which ran until September 2018 with an excellent amount raised equaling $3 million. I was new to cryptocurrency trading and the user experience at Beaxy made it super easy to learn.
Since then, the exchange has achieved steady growth by adding support for crypto-to-fiat trading as well as exclusive trading tools like Trender. As Beaxy is still building its reputation and developing its user base, it offers an attractive fee structure, and the BXY token allows users to reduce their fees by up to 50%. Users can also earn a portion of trading fees by locking up PLS tokens and onboarding friends onto the platform via the referral program. Beaxy has its web-based trading platform which has an intuitive interface and can be easily navigated by first-time users. It has a customizable interface and special setting in Night mode and Day mode for round-the-clock trading.
It also worked on customer centric creativity, better technology, and engagement with crypto smarter. The system also worked on providing additional features, including a multi-stage but seamless process of transactions and the opportunity to buy not only Bitcoin, but other cryptocurrencies, too. When it comes to the Trender trading signal services, it’s difficult to say how well it works without an extended beaxy review period of time using it. It also probably isn’t suited for anyone with a lot of trading experience, but the assumption is that Beaxy aims to target those more unfamiliar with digital assets or legacy finance. Beaxy is a relatively new cryptocurrency exchange and we see strong security features with an active insurance fund of up to $250,000 due to the registration as a Money Service Business.
It provides extensive knowledge about the crypto industry, the history of Bitcoin, and reviews about new applications and technologies relevant to crypto trading. One thing that really attracted the review team to Beaxy’s services is it low commission fees alongside a number of its perks and bonuses. Clients are also given low commission rates of 0.75% provided they stake their loyalty points and their Beaxy coins together. Registering with a cryptocurrency exchange is step one in establishing a walk in the cryptocurrency trade. With Beaxy, the process is highly intuitive, made possible through its easy-to-navigate interface.
You can check the complete list of cryptocurrencies Beaxy supports on their website and to learn more about buying, selling, and exchanging crypto. Beaxy was developed with a key vision of providing convenience in buying, selling, and exchanging cryptocurrencies. Buying and selling cryptocurrencies on this exchange follows a simple and hassle-free process. Before you can begin filling in orders and executing trades, you have to create an account with Beaxy.