The team at Beaxy aim to provide crypto/fiat functionality, high performance capabilities, cutting edge security, and extensive customer support, alongside reasonable fees. 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. While this isn’t quite as appealing as many of the other crypto exchanges offering 0.1% maker and taker fees, it is certainly well above average and a very competitive rate. It’s also important to note that Beaxy will have an exclusive partnership with OneTick, its flagship software, a comprehensive suite for time-series data management, real-time event processing, and analytics. This means that no other crypto exchange will have access to this technology.
Beaxy Fees\r\n
The KYC process is very straightforward and much easier to follow and comply with than the KYC-procedures at other major crypto exchanges. To start the KYC verification process, click on your “user” tab on the top right of the page and look for the “KYC” button. Launched in June 2019, Beaxy is a new cryptocurrency exchange that aims to get ahead of its competition by offering unmatched security, performance, and superior tech. Referral programs, low trading fees, 24/7 support and options to customize the trading experience are also positive. Beaxy also offers a referral program, which allows you to refer friends to the exchange and receive 10% of their trading fees for the lifetime of their account, which seems to be the standard rate across exchanges.
How to exchange cryptocurrency on the Beaksi platform?
You should therefore carefully consider whether trading or holding digital currency is suitable for you in light of your financial condition. We may experience hardware, software, or other problems or need to perform maintenance related to the Site, resulting in interruptions, delays, or errors. We reserve the right to https://forexarena.net/ change, revise, update, suspend, discontinue, or otherwise modify the Site at any time or for any reason without notice to you. You agree that we have no liability whatsoever for any loss, damage, or inconvenience caused by your inability to access or use the Site during any downtime or discontinuance of the Site.
The KYC Protocol
Despite these features, Beaxy has a number of challenges to overcome, for example the Loyalty Reward Program is not available to residents of the US, while fiat transfers still haven’t been enabled. You can use the “Take pictures with Smartphone” feature, and both a Driving License and National ID must have both sides uploaded. Smartphone users can click the link at the bottom of the panel to get further instructions via email on how to proceed. The project held an Initial Coin Offering (ICO) which ran until September 2018, and raised approximately $3 million in funding, and the exchange has just recently launched. It might be dangerous to gamify trading, but it could be worth looking into if you’re a novice trader looking for some ideas and direction. Trading fees can also be dramatically reduced through Beaxy Black, which we will touch on later.
- We may experience hardware, software, or other problems or need to perform maintenance related to the Site, resulting in interruptions, delays, or errors.
- Another thing that the review team had found noteworthy is Beaxy’s custody wallet that allows for the storage of all its clients’ coins.
- For trading on the platform beaxy.com you need to register, connect two-factor authentication and pass KYC verification, let’s look at each of these steps in more detail.
- We reserve the right to remove, reclaim, or change a username you select if we determine, in our sole discretion, that such username is inappropriate, obscene, or otherwise objectionable.
- Beaxy is a US crypto exchange that is focusing on making finance more digital and has created a very innovative crypto trading platform which is run by the company Windy inc at the registered address of E Jackson Blvd, Chicago, Illinois 60604, US.
In the following example, if a user locks up 100K BXY tokens for 6 months, they will receive 100K PLS tokens. If there are also 10 million BXY tokens locked up in various accounts on Beaxy, there will be 10 million PLS tokens in circulation. This platform is not only available from your desktop, you can also access it via your mobile. Most traders in the crypto world today carry out their trades via desktop (around 70% or so). However, there are naturally people out there that want to do it from their smart phone as well.
Beaxy uses multi-party computation protocol (MPC) technology developed by Curv Digital Asset custody to keep your assets as secure as possible. This is why the list of clients who entrust their digital assets to Beaxy is long and growing daily. In addition, our operations are compliant with all applicable U.S. and international finance regulations. In the long run, strict adherence to these regulatory guideposts allows us to sustainably provide the best crypto trading services to our customers.
On the date of last updating this review the 24-hour trading volume was as low as USD 1,612 vis-a-vis USD 19,676 on 18 September 2021, according to Coinmarketcap.com. We hope for Beaxy’s sake that this trading volume improves substantially. Otherwise, it will be difficult for Beaxy to attract new trading users to its platform. In the future, the team behind the platform aims to add some very interesting features, such as OTC trading capabilities, margin trading, and portfolio management. They will also be adding advanced order types as options, including choosing between trailing stops, “fill or kill” orders, orders that expire at a certain time and many others which traders with complex strategies will find extremely interesting.
You further agree to promptly update account and payment information, including email address, payment method, and payment card expiration date, so that we can complete your transactions and contact you as needed. We bill you through an online billing account for purchases made via the Site. Sales tax will be added to the price of purchases as deemed required by us. You understand and agree Company does not and is not licensed to provide any investment advice or investment management services, and we expressly deny providing any such advice or management services. The Website is for information purposes only, and no assurances can be given as to the accuracy or reliable of information and content on our Website.
One thing that many seasoned traders would notice is its lack of cryptocurrencies in its listings. This can be a problem for some as it could deter most from the advantage of building an organic and diverse trading portfolio. However, all in all, when comparing its incentives and trading platform, the pros outweigh the cons in an aspect and we find that trading with Beaxy can be one of the better online exchanges with a long and successful road ahead of it. 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.
CaptainAltcoin.com does not offer any sort of financial or investment advice. Please make sure to do your own research, make educated financial decisions and consult your Financial Advisor. 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 in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.
Furthermore, Beaxy’s security standards on the platform are in line with PCI-DSS and ENISA security standards. Speed and execution is usually one of the most sought detail for any client and the trading platform spared no expenses to make its buy-and-sell executions as quick and simple. Beaxy’s trading platform makes use of high throughput and low latency database performance capabilities, allowing the platform to handle up to 225,000 transactions per second (TPS) with less than 1ms of latency. It was developed with long-term scaling in mind, featuring revolutionary functions to moderate demand spikes, coupled with automated scaling and resource balancing features.
Any information presented is not to be used as official investment advice. The review team lauds this process in particular as this shows that Beaxy is highly conscientious and cautious beaxy review in handling client data. The KYC protocol is simply one of the most unique yet simple ways a private company had devised to effectively verify the legitimacy of its clients.
From here you can click the Mati “Verify me” button, and choose your preferred language. You can also complete the verification process via smartphone, and you can click the link at the bottom of the panel and then enter your email address. Mati will send a link to this email that can be used to continue the verification process by phone. Although Beaxy generates the signals, the Trender has an option to filter by timeframe, favorite assets only, and signal strength. 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.
Help these potential customers decide whether they would either want to sign up with the crypto exchange or disregard the prospect altogether. Beaxy is a new cryptocurrency exchange that aims to get ahead of its competition by making improvements across the board, and equipping crypto traders with a completely modernized approach to buying and selling digital assets. 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. 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.
You can find additional trading pairs at a handy drop-down menu, including a search bar for ease-of-access. With all that said, Beaxy does indeed follow top security practices, and offers security features that really bring the user peace of mind because they know that their assets are safe. Security measures are one of the most important factors you should be looking at when choosing an exchange. The Beaxy team place security at the forefront of their priorities and the security protocols within the exchange are extremely effective and leave your account protected in many ways. The exchange uses two-factor authentication (2FA) and is compatible with both Google and Authy Authenticators.
