Beaxy exchange shutters after SEC presses multiple charges against founder, execs

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beaxy exchange review

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). The User Agreement is a document regulating the relationship between the user and the administration of the cryptocurrency exchange. The document defines the basic order of work on the exchange, as well as the rights and obligations of the parties. According to this document, registration on the platform is available to persons over 18 years old. Discounts on exchange trading fees can be obtained by holding a certain level of daily trading, as well as holding a certain number of BXY coins on your balance.

  • In total, Beaxy is selling 60% of the tokens and there is a soft cap of $4.2 million and a hard cap of $ 19 million USD.
  • Traders are also happy with the possibility of funding their accounts with fiat currencies.
  • 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 (AML) and Know Your Customer legislations.
  • It also probably isn’t suited for anyone with a lot of trading experience, but the assumption is that Beaxy aims to target those more unfamiliar with digital assets or legacy finance.
  • As one advantage that Beaxy promotes, they mean that the KYC-procedure on their platform is much easier to follow and comply with than the KYC-procedures at other major American crypto exchanges.

Blog is an essential part of any broker, and it’s a shame these posts are very frequently subpar in quality – they are either not unique, unhelpful or simply for show in the worst situations. As mentioned, Beaxy has signed many agreements over the years to allow numerous tokens and coins on their platform. These products are almost unique to Beaxy, so if you’ll find yourself in possession of a peculiar coin, it’ll likely be featured on Beaxy. At the top of the interface are various important factors that can help you with your ongoing trades, including statistics like the volume, bid/ask spread and percentage changes.

Beaxy Alternatives

Austin specializes in topics related to cryptocurrencies and blockchain technology. That said, blindly following trading signals and mindlessly swiping left and right on trades would be unwise, regardless of the proclaimed win rate. However, the service could be a valuable learning resource for anyone new to trading. The last feature of Beaxy’s platform worth mentioning is its signal service that uses pre-built technical analysis to offer actionable trading signals with an acclaimed 63% win rate. For each person you refer to the program, you’ll receive extra percentage points for any transaction fees collected throughout their trading.

beaxy exchange review

The Beaxy cryptocurrency exchange supports over 40 trading pairs but only about half as many individual assets. 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. 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.

How To Withdraw At Beaxy Exchange ?

Finally, enter the amount that you want to buy, decide whether you want to do a ‘market order’ or ‘limit order’, and then place your trade. 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. Beaxy surprisingly only supports a handful of USDT and USDC pairs as most of its trading pairs are with BTC. However, if you decide to transfer digital assets, the amount can be even smaller. This next-generation digital asset exchange is employing at least 50 persons which makes this a very real operation in terms of the company size and the focus right now is to be able to serve traders in all of the US states.

  • 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.
  • Mati will send a link to this email that can be used to continue the verification process by phone.
  • Because of it, you’ll have to rely on others for market data and analysis – in a very simplified way, too.
  • [4] Interestingly, a market maker who coordinated with Beaxy’s operators to maintain liquidity of BXY was also charged with operating as an unregistered broker dealer.
  • The Commission’s aggressive enforcement of crypto has extended beyond just crypto platforms for registration violations.
  • It would be wise to consider this option because even the initial API allows you to receive large quantities of real-time and historical market information, as well as make 100+ decisions every second.

There are 2 types of commissions on the platform – trading commission and withdrawal commission. The size of the trading commission is 0.25% for market-takers and 0.15% for makers (makers, takers, rates on cryptocurrency exchanges). The fixed amount of commissions can be reduced by reaching a certain volume of daily trading. Also, discounts on trading commissions are provided for holders of the crypto exchange token – BXY coin. 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.

Key Features

[4] Interestingly, a market maker who coordinated with Beaxy’s operators to maintain liquidity of BXY was also charged with operating as an unregistered broker dealer. [5] By charging a market maker operating within an unregistered exchange, the Commission may be signaling a greater intent to prosecute not only exchanges, but also sophisticated entities that avail themselves of exchanges. Beaxy is a relatively new cryptocurrency exchange and we see strong security features with an active insurance fund of up to $250,000 due to the registration as a Money Service Business. This adds to their credibility and we definitely recommend our traders to use this platform. 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.

Former Coinbase Employee Accused Of Insider Trading Nears Settlement With SEC – Bitcoinist

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One of the best features is the calculator used to calculate the profits and losses of certain trades that you’re thinking about making. It’s true that they are lessened by the lack of available trading pairs and currencies that are popular elsewhere. However, if you do find your style on Beaxy, you can make the most out of it and make potentially immense and safe profits. Because of it, you’ll have to rely on others for market data and analysis – in a very simplified way, too. It’s supposed to be a Tinder-like trading app, in which the users are given potentially good deals as ‘matches’ they can swipe left to reject or right – to agree to.


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