Beaxy Exchange – a young reliable cryptocurrency exchange with a wide range of instruments and free trading signals. The exchange regularly adds new cryptocurrencies, expanding trading opportunities on favorable terms. The company offers trading in the modern MetaTrader 5 terminal with the possibility of opening fiat accounts.
If the parties are unable to resolve the dispute during the pre-trial proceedings, it will be referred to arbitration by by location administration of the cryptocurrency exchange (Cook County, Illinois, USA). When registering on the site you agree to give the administration of the service the requested information for identity verification. While working on the service you don’t sell or buy cryptocurrencies from Beaxy Exchange. The platform only acts as an intermediary between users to facilitate transactions. The administration of the service reserves the right to cancel any transaction for a legitimate reason. Once you deposit funds and complete the identity verification process, you can check Beaxy’s listed trading pairs and in its mobile app to find a live signal with professional-grade technical analysis pre-built onto its chart.
- The exchange ceased itsoperations in the wake of a lawsuit from the United States Securities andExchange (SEC) which charged the platform and its executives for operating anunregistered exchange, brokerage andclearing agency.
- 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.
- However, like everything else, for this to really shine, you need actual trading volume.
CoinDesk 20 Performance Update: SUI Gains 6.4% as Index Trades Higher
It also probably isn’t suited for anyone with a lot of trading experience, but beaxy exchange review the assumption is that Beaxy aims to target those more unfamiliar with digital assets or legacy finance. This is not to say either service is terrible, but they certainly aren’t good compared to other bot trading platforms or cryptocurrency exchange VIP/reward systems. Setting up a Beaxy account is a an extremely simple endeavor that takes a matter of minutes. While they are a relatively new exchange, they are attempting to rival giants such as Binance and KuCoin with their rewards programs. If disputes arise, the parties must resolve them through pre-trial proceedings.
- To create an account, click the “Register” button in the upper right corner of the home page.
- Beaxy is a Chicago-based cryptocurrency exchange platform where users can easily buy, sell, store, and trade a wide range of crypto assets and fiat currencies.
- Traders are also happy with the possibility of funding their accounts with fiat currencies.
- That said, blindly following trading signals and mindlessly swiping left and right on trades would be unwise, regardless of the proclaimed win rate.
- Beaxy has a tiered 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.
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. The platform aims to provide traders with a comprehensive service that appeals to both newer traders and more experienced participants. At this exchange, they accept fiat currency deposits (both wire transfer and credit cor debit card transfers) through Simplex. The exchange was previously registered in Saint Kitts and Nevis, but it is now owned by Windy Inc. (a Delaware corporation) and Beaxy’s headquarters today are in Chicago, Illinois. The fee structure and various incentives should prove successful in helping to attract users to the platform and improve the validity of the BXY token.
Many Different Order Types
For a deeper integration with our service, we recommend using our official Telegram widget 🚀. After authorization, you’ll unlock the full range of advanced features our site offers 🔓. Austin DeNoce is a writer, personal investor, and entrepreneur who is focused on trading and investing education for macro, crypto, equities, derivatives, and foreign exchange traders.
Beaxy Exchange Review – Is it Safe and Legit?
Withdrawal fee is calculated personally, taking into account the status of the account and the amount to be withdrawn. At present, we lack sufficient data to analyze this company’s website traffic distribution across the top five countries. This may be due to limited web traffic, restricted access to geographic data, or low engagement in international markets. Our analytics team will continue monitoring, and any new data will be promptly added to provide an updated view of the company’s market presence. While the look and feel of Beaxy may not be the absolute best, that’s ultimately up to each user when deciding on a crypto exchange, so it’s hard to fixate on that as a reason to pursue Beaxy alternatives. 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.
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. After your transfers have been confirmed by the network and Beaxy displays your wallet’s funds, you are free to trade on the exchange. After generating an address, you’ll see the standard QR code and alphanumeric string.
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. The platform also supports cryptocurrency trading for fiat – USD, CNY, GBP and EUR. For the convenience of users crypto exchange has launched its own mobile application with the support of a full set of tools for trading. Registration on the exchange is available to everyone, except for residents of countries that restrict operations with cryptocurrencies. Beaxy is a Chicago-based cryptocurrency exchange platform where users can easily buy, sell, store, and trade a wide range of crypto assets and fiat currencies.
Raw Spread vs Standard Account
It can be contacted across their different channels, including their Telegram group, Discord server, and Twitter account. 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 Exchange is an up-and-coming fiat-to-crypto exchange that offers a great loyalty program for those who hold their proprietary token Beaxy Coin (BXY). Rewards include up to 12% apy and the potential to earn a piece of the fees the exchange makes everyday. That is why you should only invest money that you are prepared — or can afford — to lose at such high risks.
Coinbase Acquires Liquifi to Simplify Token Launches for On-Chain Builders
On Monday, Sept. 15, 2008, Lehman Brothers Holding, Inc. (an investment bank) declared bankruptcy. On Wednesday, panicky bankers withdrew $144 billion from money market funds, almost causing a collapse. “When a crypto intermediarycombines all of these functions under one roof — as we allege that Beaxydid — investors are at serious risk.
Customer Support: Are They Responsive?
Beaxy’s customer support also includes a massive Help Center where you can find tens of valuable articles explaining how exactly to use the exchange. However, if you can’t find an answer then just head straight over to their support ticket form or live chat and they will give you an instant answer. 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.
Beaxy Security
There are both day and night modes available, making the trading panel easy on the eyes and presenting information and execution panels in a clean and easy-to-read manner. TradingView provides the price charts that are located in the center of the interface and provides a full range of technical indicators and various charting color options. Our team spends thousands of hours per annum researching brokers and gathering information about them to help investors all over the world to choose reliable companies and to avoid fraudsters. Indeed, the curating, sourcing, and organization of this process requires substantial financial investment by Tradersunion.com, which the website earns in the form of advertising payments. There are two types of advertising services on the website — direct advertising or partner (broker) participation programs. However, no services purchased by our partners shall affect the recommendations on our website, or our opinions, or ratings.
Once you completed the above steps, you will have to wait until you receive a notification that your documents have been approved, which might take up to a couple of hours. The company is registered in St. Kitts & Nevis in the Caribbean Island, but also has offices in Chicago and Illinois. However, the company is actively researching the opportunities to be registered in Malta or Gibraltrar. I agree to receive newsletters from CryptoVantage and accept the data privacy statement. Our Beaxy Exchange review will help you determine if it is the right exchange for your needs.
