Diamond Account– Requires the staking of 1,000,000 BXY, and yields a 25% discount on trading fees with a 500 BTC daily withdrawal limit. Platinum Account– Requires the staking of 500,000 BXY, and yields a 20% discount on trading fees with a 200 BTC daily withdrawal limit. Gold Account– Requires the staking of 150,000 BXY, and yields a 15% discount on trading fees with a 100 BTC daily withdrawal limit. Silver Account– Requires the staking of 50,000 BXY, and yields a 10% discount on trading fees with a 60 BTC daily withdrawal limit.
Technology – The exchange makes use of high throughput and low latency database performance capabilities, and Beaxy is able to handle hundreds of thousands of transactions per second with less than 1ms of latency. The platform is also built for long term scaling, and includes functions to mitigate demand spikes, as well as automated scaling and resource balancing features. Beaxy was also built in collaboration with OneMarketData and incorporates its trading analysis, data research, surveillance and back-testing services. Functionality – Beaxy operates as a web-based trading platform, and utilises a simple to use, and intuitive UI. The interface is also customizable and includes scrolling ticker settings for speed, visibility, and favourite pairs. It also incorporates Night and Day modes for around-the-clock trading, TradingView charts with a full range of technical indicators, and a variety of charting colour options.
Beginners Guide to Beaxy Exchange: Complete Review
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 choosing Beaxy and it’s a strong recommendation for all traders who want to bring crypto to their smartphones. Beaxy also uses email alerts and two factor authentication which is compatible with beaxy exchange review both Google and Authy Authenticators. In order to further secure user accounts, the exchange also provides the ability to whitelist withdrawal address, which restricts the places funds can be sent to. IP whitelisting is also featured and once set up, when you try to log in to your account for the first time from a new location, access will be denied and a red “IP Whitelist” message will appear.
- As such, you’ll be able to multiple your efficiency by stitching multiple trading methods together and work in any destination.
- Launched on 10 June 2019, Beaxy Exchange is a centralized exchange headquartered at The Board of Trade in Chicago, Illinois.
- Coin Trade Base is a multi-sided platform which incorporates different kinds of exchanges to shine users’ experience, and oversimplify digital-to-fiat and digital-to-digital…
- BXY token itself is an ERC 20 token and gives users of the platform many other benefits, such as loyalty rewards and coin staking.
- Together, they create the groundwork for a successful and efficient user experience.
- You can make a deposit with crypto, fiat, or by making a purchase with a credit or debit card.
Move in and out of major cryptocurrencies and take advantage of global price discrepancies with USD, EUR, GBP, JPY, CAD, and AUD. If you were to trade on MT4, you could enhance your software with many different tools and plug-ins available in free access all over the Internet, but it wouldn’t be too comfortable – MetaTraders are designed primarily for Forex trading. It’s much better to work with APIs that were designed specifically for crypto investing. For instance, one of the more recent additions is Gunthy tokens issued by the company with the same name and used to fuel Gunbot, one of their creations. It reportedly increases your profits, but if you’ll want to invest some of your spare Gunthy tokens into Bitcoin, you’ll need to come to Beaxy for that.
About Beaxy exchange
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. Beaxy aims to become a leader in the crypto trading space and is best suited to people with a good understanding of trading digital assets and using exchanges. The next step is to log into your Beaxy account and pass the identity verification process.
In their own words, their MPC (multi-party computation) algorithms utilize a much more secure method of identifying users. However, the exact technology remains vague, even after a thorough research on Curv’s own website. The popularity score combines profile views, clicks and the number of times the company appears in search results. For a start, Galt says that Beaxy claimed that the problem was little known and that Ripple hadn’t been forthcoming about it.
Furthermore, we aim to provide this in multiple languages and currencies, subsequently creating a global platform for users to interact with the same functionality as if they were neighbors. Kryptoro tokens will function as the gas for the Kryptoro Exchange. They will be utilized by users of the exchange in paying all applicable fees and charges for services on the platform. We will also be conducting bi-annual repurchases and burns of tokens, subsequently reducing the circulating supply twice a year. Coin Trade Base is a multi-sided platform which incorporates different kinds of exchanges to shine users’ experience, and oversimplify digital-to-fiat and digital-to-digital exchange among traders, investors and ordinary persons. The fuel which powers the ecosystem is the CTB token, which will be used to pay for the listings, and votings, with a special market created for different CTB-altcoin pairs.
After accepting the Terms and Conditions and clicking “Sign Up”, you will automatically receive a confirmation email with a verification link. After clicking on the link, you will be asked to log into your account. The Beaxy team is already pretty big and has 25 full-time employees and 25+ halftime contributors all over the world.
Once the team has approved you, you become a standard user and can withdraw up to 30 BTC worth of cryptos per day from any combination of their wallets. 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.
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 team behind the platform, lead by CEOArtak Hamazaspyanand 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.
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. This platform is not only available from your desktop, you can also access it via your mobile.
What is 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. Beaxy is a moderately-sized exchange with some 30 trading pairs of different caliber, some highly on-demand, and some – just the options for occasional trading.
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. As such, you’ll be able to multiple your efficiency by stitching multiple trading methods together and work in any destination.
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. You have the option to activate free crypto trading signals that will automatically give you a signal every hour or so based on preset criteria. These price predictions have a 63% win rate and are pre-built technically with data-driven pattern recognition. With these crypto signals you don’t have to look for setups on your own, everything is done by the computer.
How Safe is Beaxy?
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. The KYC verification process is conducted via Mati who store encrypted user data in AWS servers in the USA. This acts as an additional layer of protection and can block an attacker who manages to gain access to a user’s log in details but cannot match the IP address of the actual account owner. The team also declare that standards on the platform are in line with PCI-DSS and ENISA security standards.
They basically give you an advanced rebate on your trading fees and let you trade with it. You would get an additional $500 to trade with when you deposit $500 or more and you get to keep the extra $500 as soon as you’ve generated $750 in trading fees. They’re cutting the trading fees by 66% and giving you the opportunity to put that into the market. Cryptocurrency is a bit different from other trading products (stock, Forex, etc.) in that coins are mostly traded on exchanges built into the websites that belong to one broker or another.
One of the main problems in the cryptosphere is that over time, cryptocurrency has become more and more difficult for novices and even experts to understand and is not yet widely… Third, while Beaxy claims it will simply use the KYC documents supposedly provided by the hacker to recover the funds, as Decrypt suggested when we reported the hack, it will likely be a dead end. Galt pointed to a tweet showing how easy—and cheap—it is to pay for someone else to fulfil the KYC requirements.
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. The team at Beaxy aim to provide crypto/fiat functionality, high performance capabilities, cutting edge security, and extensive customer support, alongside reasonable fees. The platform provides 24/7 support to their users with live chat and an AI bot, which is especially valuable when a critical issue arises. There are also further resources aimed at newer traders such as the FAQ section and Knowledge Base, and the team is active on social media. It can be contacted across their different channels, including their Telegram group, Discord server, and Twitter account.
Visit Beaxy.com and click on “Register”, you will be prompted to enter your email address. Next, you will be taken to a screen to complete the registration by filling in a password for the account, adding a phone number, and agreeing with the terms and conditions. In this section of our Beaxy review we highlight 6 special features that deserves extra attention. Naturally, all of these pieces of software are integrated to some extent. The resulting potential for improving your experience here is large. It’s not nearly as big as if you would be scrupulously adding new tools to your MetaTrader 4, but these instruments are all ready to install and work together perfectly.
The exchange team contains CEO Artak Hamazaspyan, CTO Mittal Patel, COO John Galvagno, and Director of Engineering Federico Almaraz. Get the latest news and best offers from the crypto community by joining our newsletter. 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. https://forexbroker-listing.com/ 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 which ran until September 2018, and raised approximately $3 million in funding, and the exchange has just recently launched.