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Beaxy Reviews, Trading Fees & Cryptos 2024

beaxy exchange review

It is somewhat similar to what Binance offers, along with a powerful trading engine, much more specific order type options, lower fees, and a professional customer support team. 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 is operated by the firm, Beaxy Digital Ltd. which is registered in the Caribbean Islands.

  1. Beaxy was developed with a key vision of providing convenience in buying, selling, and exchanging cryptocurrencies.
  2. The wallet columns include the Wallet Name, Available Balance, Reserved Balance, and Locked Balance, which is the balance locked away in any staking or loyalty programs.
  3. I was new to cryptocurrency trading and the user experience at Beaxy made it super easy to learn.
  4. CaptainAltcoin.com does not offer any sort of financial or investment advice.
  5. More so, it is efficient since the platform features a separate section called TradingView.

How do I withdraw money from Beaxy?

beaxy exchange review

In Beaxy, it is not the case since it functions with the help of a database with minimal latency. With this kind of technology, the platform is able to process larger volumes of requests per second, with transactions taking up just 1ms to complete. If the Parties are unable to resolve a Dispute through informal negotiations or mediation, the Dispute (except those Disputes expressly excluded below) will be finally and exclusively resolved by binding arbitration. YOU UNDERSTAND THAT WITHOUT THIS PROVISION, YOU WOULD HAVE THE RIGHT TO SUE IN COURT AND HAVE A JURY TRIAL. The arbitration may be conducted in person, through the submission of documents, by phone, or online.

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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. Beaxy has a tiered https://traderoom.info/ fee structure that starts at a 0.25% fixed fee per trade on market takers, meaning you take an already existing order off the book, and a 0.15% maker fee, meaning you put on order on the book. These rates are in line with most industry standards, especially as starting rates.

Beaxy Exchange sets the bar

The platform also provides advanced trading tools such as stop-loss and limit orders, which are useful for managing risk and maximizing profits. These tools allow users to set specific parameters for their trades and can help to minimize losses and maximize gains. The platform also provides margin trading with high leverage which can be useful for experienced traders. You may be required to purchase or pay a fee to access some of our services. You agree to provide current, complete, and accurate purchase and account information for all purchases made via the Site.

Top Crypto Exchanges

We will maintain certain data that you transmit to the Site for the purpose of managing the performance of the Site, as well as data relating to your use of the Site. Although we perform regular routine backups of data, you are solely responsible for all data that you transmit or that relates to any activity you have undertaken using the Site. You agree that we shall have no liability to you for any loss or corruption of any such data, and you hereby waive any right of action against us arising from any such loss or corruption of such data. There may be information on the Site that contains typographical errors, inaccuracies, or omissions, including descriptions, pricing, availability, and various other information. We reserve the right to correct any errors, inaccuracies, or omissions and to change or update the information on the Site at any time, without prior notice.

Beaxy Exchange Review: Complete Beginners Guide

Partnership with Beaxy opens you to even more possibilities, including an expansive portfolio of assets that will guarantee big profits. Beaxy Exchange currently partners with Prime Trust, Roundlyx, Deltix, Autonio, Simplex, Cryptohopper, Gunthy, and Holderlab. They have also integrated with Tradingview, Coingecko, Delta, Coinmarketcap, Blockfolio, Hummingbot, and CoinStats. We specialize in crypto trading, powering traders in 185 countries and 43 U.S. states. Select the currency you wish to pay with and the amount you’d like to spend. Then select your digital asset and click buy to complete your purchase.

beaxy exchange review

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. Nonetheless, it is a welcome feature and should contribute to a quick growth of adoption and liquidity on the exchange. As this is the case, the review team had performed an exhaustive review of all services and functions offered by the platform. It is the goal of the team to provide a pointed and informed assessment of Beaxy.com so as to 1. Help these potential customers decide whether they would either want to sign up with the crypto exchange or disregard the prospect altogether.

Mati will send a link to this email that can be used to continue the verification process by phone. To start the KYC verification process, click on your name and select KYC in the drop down menu. The wallet columns include the Wallet Name, Available Balance, Reserved Balance, Locked Balance, Pending and Total Balance and the Is Default feature. The first time you deposit into a wallet, you will have to generate the wallet first. The Beaxy team is already pretty big and has 25 full-time employees and 25+ halftime contributors all over the world. The exchange team contains CEO Artak Hamazaspyan, CTO Mittal Patel, COO John Galvagno, and Director of Engineering Federico Almaraz.

But while this safeguards the integrity of the users, it is not clear on this process alone how they can be protected as well. While still young in the cryptocurrency trading industry, Beaxy had managed to set-up shop in 185 countries, with 43 of them being in the United States. Beaxy.com had declared in its website that the operations of such had effectively https://traderoom.info/beaxy-cryptocurrency-exchange-review/ complied with all regulations and licensing agreements required by the aforementioned territories. A testament to their resulting success, Kraken raised $100 million in February 2019 at a valuation of $4 billion. In September 2020, Kraken became the first US cryptocurrency exchange to be granted a special purpose depository institution charter (SPDI).

Through Beaxy’s platform clients, novice or otherwise, are given the chance to experience charting like a professional.. Beaxy is generous in giving bonuses and pushes customers to make successful trades. This is the reason why the exchange implemented a match bonus that gives additional funds of the exact amount as the client deposited. If you deposited $500 minimum, you will receive an additional $500 in your account. Beaxy also has a responsive and helpful customer support team, available through live chat and email. They are quick to respond to queries and resolve any issues that may arise.

Veteran investors and traders are all too familiar with these problems which is why a new kind of platform was needed – one that speaks the language of both finance and crypto. Investment decisions and strategies of any kind are subject to various market, currency, economic, political and business risks. Investment decisions may not be profitable and may result in the loss of your entire invested amount. Past performance is not a guarantee or prediction of future performance.

Beaxy is a powerhouse platform that is well-suited from manual and automated trading strategies. Generate API keys in your account and connect them to popular trading bot platforms like Gunbot, Hummingbot, and Autonio. Getting started with an algorithmic trading bot is easier than you might think. Hummingbot is free to download and allows enables you to become a bona fide market maker in minutes. The SEC alleges that when Windy Inc. took over the platform from Hamazaspyan in 2019, the new managers continued using Beaxy for trading crypto assets “that were offered and sold as securities” and in turn violated securities law. Exchanges with low technological capabilities tend to malfunction when trade volumes increase.

beaxy exchange review

If you’re one of those people, then this platform can still be for you. Beaxy will match your first deposit with a $500 cryptocurrency welcome deposit bonus. This means that when you make the first deposit you will double your capital immediately and all of it is yours to trade with. This is one of the most generous crypto deposit bonuses I’ve seen and it’s a good way for traders to get to know the platform.

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.

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. 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. Beaxy is operated by Beaxy Digital, Ltd, which is a company registered in St. Kitts & Nevis in the Caribbean Islands. The team behind the exchange is transparent in nature and contains CEO Artak Hamazaspyan, CTO Mittal Patel, COO John Galvagno, and Director of Engineering Federico Almaraz.