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. Once you are verified, you can deposit funds to your account and use the logins verified by Beaxy. Despite being established just recently, Beaxy already gained popularity by offering services far more optimum than the industry standards. The incorporation of leading technologies and instruments made it the best option. Apart from the advantages that its platform carries, it also appeals to traders by having generous promotions and bonuses.
While the review team had found to be a good feature, the matters stands that the KYC Protocol only protects the Beaxy platform, not the client’s data. It would be commendable for the firm to mirror this kind of protective measure to its clientele’s data and digital assets as it had done quite impressively with its internal system.
There are severe perks of activating an institutional account such as a personal representative, advanced APIs, as well as very high withdrawal limits up to 100 BTC per day. The minimum fiat deposit is $50 and there is no minimum or maximum limit on cryptocurrency withdrawals. Both Binance and Beaxy do not have fiat currency markets for any cryptocurrency.
They also offer a mobile app for iOS and Android for those interested in trading on the go. It’s worth noting that users from the USA are currently not eligible to access the Loyalty Rewards program or obtain the PLS token in any way. To transfer funds, you’ll need to click on the “My wallets” tab at the top right of the screen, and select your preferred currency and click on the + icon next to it. 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. Beaxyis operated by Beaxy Digital, Ltd, which is a company registered in St. Kitts & Nevis in the Caribbean Islands.
It has a customizable interface and special setting in Night mode and Day mode for round-the-clock trading. The platform also has an array of technical indicators and charts in various colors. Beaxy also supports mobile trading for on-the-go traders as its mobile app is available on iOS and Android devices. Meanwhile, the referral program is another opportunity to boost your crypto funds. If a user invites other traders to join Beaxy, the user will receive 10% of their transaction fees for the rest of their trading stint with Beaxy. In this Beaxy review, we will divulge the exchange’s salient features and assets along with its company profile, perks and programs, security, and supported digital coins, among others.
Underdeveloped Learning center – Beaxy is still working on improving its Learning Center to provide a more comprehensive trading resource to its users. In the next segment, let’s highlight the advantages and disadvantages of Beaxy as a new crypto exchange. Interestingly enough, Beaxy has its native crypto coin called BXY which is part of the exchange’s scheme of attracting traders to use it to gain more exciting rewards. forex analytics He has more than 10 years of experience in trading and helps people get rich. Anna’s lessons, interesting articles in the field of financing will always help you manage your money properly. Clients are also given low commission rates of 0.75% provided they stake their loyalty points and their Beaxy coins together. The user is at liberty to choose which currency this electronic wallet would be filled with.
The verification process only takes a few minutes once you’ve submitted your identity document. Most exchanges cap referral rewards around 20% or only allow you to make money on referrals for a few months. Beaxy’s referral program pays out 30% of the trading fees from accounts you refer and there’s no time limit. As a new investor, the best trading platform for beginners offers three essential benefits. Second, the platform provides a variety of educational materials to encourage learning.
Since Changelly is an instant trading platform they don’t have a fully developed trading intrfaces or charts. So, when you are buying crypto on Changelly, you are actually buying the coins from other exchanges. Complete Beaxy Review This made them very popular as it was very easy to deposit funds with a Credit Card or even Bank Transfer. Coinbase was one of the first cryptocurrency platforms that enabled an on ramp from fiat currencies.
Cryptocurrencies are reportedly secured by Curv institutional custody and fiat accounts are insured as much as $250,000. Beaxy Exchange presents prebuilt technical analysis trading alerts for cryptocurrencies listed on their platform.
When you check these signals consistently you start to pick up on how price reacts much faster. You’ll be able to find a Signal on most of the assets at any given time which is really helpful. The data provided by Auto-Chartist, the company that provides the Signals, shows a win-rate around 70% when backtested on cryptocurrencies. In order to trade on Beaxy you need to verify all of your details via a KYC check. Once you have been approved by the team, you become a standard user and have a withdrawal limit of up to 30 BTC a day! However, if you’re looking to be an active trader on Beaxy then you can stake your BXY tokens to upgrade your account.
After you enter the details for your order, click the circular buy or sell button to complete the process. The Chicago-based team maintains a regulated platform and is partnered with Curv, an advanced custody solution to protect the digital assets held on the exchange. The trading interface on Bitfinex is very advanced and it’s best suited for experienced traders. This makes it very easy to deposit funds on the platform and start exchanging tokens. Changelly is the first instant altcoin exchange in this review and they support trading in 150+ tokens.
This system may even defend users that have added their username and password right into a Beaxy phishing site, by blocking an attacker if his IP doesn’t match the one of the actual owner of the account. The exchange, of course, has a very user-friendly interface and there are both day and night modes available. Because of the fast transaction speeds, there are very rarely any delays on the transactions that you’re receiving. TradingView provides the price charts that are located in the centre of the interface.
It is well suited for both beginners and experienced traders as the platform is well made and there is not much clutter to be confused by. Traders who enjoy good custody of tokens, algorithmic trading, crypto welcome bonuses, AI technology, and crypto trading signals will definitely enjoy Beaxy. An ultra-modern training app is also an option when trading strategy choosing Beaxy and it’s a strong recommendation for all traders who want to bring crypto to their smartphone. In buying a crypto, once you have chosen which digital currency you want to buy, it turns into an order, which is transferred to an order book. The orders are matched by Beaxy Exchange’s matching engine to execute the transaction.
Fundamentally beneficial to clients, this only leaves its clients with having to think of what cryptos they would like to purchase, when their time affords. Clients would no longer be bothered with complicated processes upon conversion of fiat currencies to BTC as it is already done for them by Beaxy’s comprehensive function. Cryptocurrencies are reportedly secured by Curv institutional custody and fiat accounts are insured up to $250,000. Beaxy Exchange offers prebuilt TA, signals, for cryptocurrencies listed on their platform. Members of their team have reportedly built trading desks in Chicago, IL. Their API feature REST and WebSocket as well as FIX, view the documentation here. Launched on 10 June 2019, Beaxy Exchange is a centralized exchange headquartered at The Board of Trade in Chicago, Illinois. The exchange supports 6 fiat pairs, a two-way fiat ramp, credit and debit card purchases, and spot cryptocurrency trading.
As the system is capable of such, it stands as an ideal platform for traders who engage in long-term scaling, automated scaling, and resource balancing. Its partnership with OneMarketData is also commendable since it outsources external plug-ins such as research, analysis, monitoring, and back-testing.
Beaxy’s generosity doesn’t end there as account users will be rewarded with a 100% deposit bonus for deposits up to $500 equivalent value in USDC. Note, however, that bonuses cannot be used as payments for transactions on the exchange. Another attractive feature of Beaxy is its low commission fees and special perks and bonuses. Beaxy is one of the few exchanges that parade a competitive fee structure. Here are the cryptocurrencies supported by the Beaxy cryptocurrency exchange. The review team had found the trading conditions in Beaxy to be decent as it offers clients with plenty of room to make lucrative trades.
Taking all of these into consideration, Beaxy is inarguably a good platform to start trading with. This is the VIP program for Beaxy clients and a membership in this entails you to a few special perks. With Beaxy Black, you can increase your rewards in Bitcoin, which can go as high as 30%. This feature also has a separate personal customer support team that will help you with anything in the program.
Beaxy’s Public API Portal provides real-time market data, which means that traders will no longer connect to multiple exchanges to get the best market prices. You can also view historical price and volume data, as well as receive notifications when trades are executed. In addition, Beaxy has a smaller number of supported cryptocurrencies than leading exchanges such as Binance and Huobi. However, the team are planning to roll out a number of additional features that will help to establish the exchange as a viable alternative to Currencies forex current industry leaders. 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. Personal information is collected in order to provide services, and due to it being mandated by law, such as in the case of Anti Money Laundering and Know Your Customer legislations.
Trend trading is a style of trading that attempts to capture gains when the price of an asset is moving in a sustained direction called a trend. Beaxy uses a tiered fee structure that is based on the average daily volume of the account holder as well as the amount of BXY that they hold on Beaxy. Maker fees range from 1 to 15 basis points and taker fees from 8 basis points to 25 basis points. Trading fees on Beaxy can be reduced 5-25% by enabling the Pay with BXY option. Some traders prefer to trade on a fully developed trading interface with all the necessary tools. I haven’t seen an instant trading platform with a fully developed trading interface. Of course, there are numerous cryptocurrency indicators to use, and this trading interface suits any active altcoin day trader or swing trader.
Users holding PLS on the Beaxy Exchange receive a percentage of all transaction fees collected by the exchange based on the duration the PLS Tokens are locked. First of all, the coin can be used to reduce trading fees significantly, as described in the section above. Once you are on the trading interface, you can now put up your first buy or sell order. The first step to start trading on the Beaxy Exchange is to head over over to the registration page and create an account. To do so, you will have to type in your full name, email, password, and date of birth. However, that is understandable when considering how young the exchange still is.