Beaxy com Ratings & Customer Reviews May ’23

According to the SEC, the crypto exchange had agreed to cease all operations. Shortly after the Securities Exchange Commission (SEC) filed a lawsuit against crypto exchange Beaxy, it suspended its services. As a result, Beaxy could be well worth getting to know early on and users can take advantage of the various incentive programs to make their trading activities more cost effective.

The Beaxy Exchange is an amazing up and coming exchange, the hype behind its release is very justified thanks to its great features. The project came out of it’s Initial Coin Offering (ICO) stage in September of 2018 with an excellent amount raised equaling $3 million. However, it is worth noting that Armenia does not have an extradition treaty with the US.

A driver’s license, national ID card or civilian passport can be used as an identification document. After the application is processed, you will receive a notification by mail when the verification is passed or rejected. To create an account, click the “Register” button in the upper right corner of the home page.

Beaxy Review

This means that no other crypto exchange will have access to this technology. This fee is line with the historical global industry average, which was arguably around 0.25%. Today, however, the industry average is 0.213% for takers and 0.16% for makers, so Beaxy is a bit above average when it comes to taker fees.

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. Cryptocomparer.com is a completely independent comparison website covering all things crypto related. We have news, reviews, beaxy review price charts, how to guides for Trading and Analysis and more. At the time of writing this review, the Beaxy exchange has added the following trading pairs as part of its round 1 launch. More trading pairss are going to be added in the future but for now, these are the only ones available.

After accepting the Terms and Conditions and clicking “Sign Up”, you will automatically receive a confirmation email with a verification link. 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.

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. Curv custody of crypto, FDIC Insurance of fiat, along side it being a completely compliant exchange. Low fees, U.S. and trustworthy, secure and quality customer service have all been a big plus for me when using Beaxy. Literally every other crypto exchange I’ve used has been a better trading experience.

More experienced crypto traders will be impressed by the variety of market orders available on Beaxy, and they include Market, Limit, Post Only, Limit IOC, Limit FOK, Stop Loss, Stop Loss Limit, Take Profit, and Take Profit Limit orders. 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. 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. One of the best features is the calculator used to calculate the profits and losses of certain trades that you’re thinking about making. This technology can support hundreds of thousands of trades per second with less than a millisecond of latency, which is very fast when compared to other exchanges.

After clicking on the link provided in the verification email, you will be asked to log into your account. 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. Shuttleone offers a service to help dApps create a simpler to implement fiat on-ramp for their users.

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. The Securities and Exchange Commission (SEC) has charged crypto asset trading platform Beaxy.com and its executives for failing to register as a national securities exchange, broker, and clearing agency. Beaxy’s founder, Artak Hamazaspyan, and his company, Beaxy Digital, Ltd., were also charged with raising $8 million in an unregistered offering of the Beaxy token (BXY) and allegedly misappropriating at least $900,000 for personal use. Market makers operating on the Beaxy platform were also charged as unregistered dealers.

The project held an Initial Coin Offering (ICO) which ran until September 2018 with an excellent amount raised equaling $3 million. This exchange is available in 185 countries and 43 United States states and offers a referral program, which allows you to refer friends to the exchange and receive 10% of their trading fees for their account’s lifetime. Below are a few of the advantages the exchange itself promotes on its website. Among these, security, performance, low trading fees and 24/7 support are the ones we deem most important.

Cryptocurrency Exchanges

The order panel and trade history are placed on the left, while the right is reserved for the order book. You can find additional trading pairs at a handy drop-down menu, including a search bar for ease-of-access. Security measures are one of the most important factors you should be looking at when choosing an exchange. The Beaxy team place security at the forefront of their priorities and the security protocols within the exchange are extremely effective and leave your account protected in many ways. The exchange uses two-factor authentication (2FA) and is compatible with both Google and Authy Authenticators.

Mittal is a full stack developer that has worked for IBM software labs as a Rational Product Developer for 4 years. There is a great variety of customer support features upon the Beaxy exchange. You can submit a request to their customer support team regarding any issue that you have and they should get back to you rather quickly because of their 24/7 customer support. The Beaxy Exchange is similar to many other exchanges that you may be familiar with just like Binance.

Why are you interested in Beaxy?

Those people who are submitting a National ID or driving license, will have to take a picture of both sides of the document. Before uploading the document, you will need to select the country your document was issued in. The platform aims to provide traders with a comprehensive service that appeals to both newer traders and more experienced participants.

The team also declare that standards on the platform are in line with PCI-DSS and ENISA security standards. In addition, they promise to maintain the confidentiality of user data, and state that Beaxy does not and will not sell user data to third parties. In the future, the team behind the platform aims to add some very interesting features, such as OTC trading capabilities, margin trading, and portfolio management. They will also be adding advanced order types as options, including choosing between trailing stops, “fill or kill” orders, orders that expire at a certain time and many others which traders with complex strategies will find extremely interesting. It’s also important to note that Beaxy will have an exclusive partnership with OneTick, its flagship software, a comprehensive suite for time-series data management, real-time event processing, and analytics.

The SEC is litigating its charges against Hamazaspyan for securities fraud and against Hamazaspyan and Beaxy Digital for the unregistered offering of BXY. The SEC also charged market makers operating on the Beaxy Platform as unregistered dealers. The SEC said in its official statement that it has also charged the founder of the platform, Artak Hamazaspyan, and a company he controlled, Beaxy Digital, Ltd., with raising $8 million in an unregistered offering of the Beaxy token, denoted by BXY. Smartphone users can click the link at the bottom of the panel to get further instructions via email on how to proceed. From here you can click the Mati “Verify me” button, and choose your preferred language. You can also complete the verification process via smartphone, and you can click the link at the bottom of the panel and then enter your email address.

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. After finishing the KYC application process, you will see the icon next to your name change to “Under Review”, and you’ll receive notification of your results once the review has been completed. The team behind the platform, lead by CEO Artak Hamazaspyan and CTO Mittal Patel, has proven very transparent.

The team at CaptainAltcoin.com only recommends products and services that we would use ourselves and that we believe will provide value to our readers. 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. One more thing worth noting is that Beaxy is in the final stage of discussions with Optiv, a cybersecurity giant. They are planning to provide penetration, cloud infrastructure, white box, black box, and many more tests to insure Beaxy’s security. 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 exchange also features the most advanced interface, data compilation, trading tools, and security measures to date.
• 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.
• As mentioned earlier you can receive a discount of 50% in trading fees when you use $BXY tokens.
• Those people who are submitting a National ID or driving license, will have to take a picture of both sides of the document.
• Beaxy Exchange is a cutting-edge platform that offers prebuilt TA, signals, and other features for cryptocurrencies listed on their site.
• They also offer helpful 24/7 customer support, high trade processing speeds and high-grade security.

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor. Shortly after the charges were announced, crypto exchange Beaxy suspended all operations, citing regulatory uncertainty.

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. The next step is to log into your Beaxy account and pass the identity verification process.

There’s an option to pay your fees with BXY, to do this go to your profile and click ‘Fees’ then turn the ‘Pay with BXY’ option on. Beaxy is a new exchange that is aiming to become a leader in the crypto trading space. It incorporates a range of attractive features with more expected to be added over the coming months and years. After generating an address, you’ll see the standard QR code and alphanumeric string and either can be used to transfer funds from an existing wallet.

It’s also worth noting that Beaxy operates a loyalty reward program that incorporates the PLUS Token (PLS), an exclusive token to the Beaxy exchange. The team working to make this mission a reality is comprised of over 50 people spanned across Canada, China, and Barbados. Charts Explore more data on the digital asset markets with comprehensive graphs. 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. The exchange also incorporates TradingView charts with a full range of technical indicators, and trading analysis, data research, and back-testing services from OneMarketData.

• The team at Beaxy aim to provide crypto/fiat functionality, high performance capabilities, cutting edge security, and extensive customer support, alongside reasonable fees.
• There are various explanations and tips on how to navigate the platform placed in easy to find locations.
• 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.
• Turn your account into a Silver Account and withdraw up to 60 BTC per day as well as a 10% discount on trading fees by staking 50,000 BXY.
• Mittal is a full stack developer that has worked for IBM software labs as a Rational Product Developer for 4 years.

If any assets were left on the exchange, they are secure and will be made available for withdrawal within 24 hours after all user orders are canceled and balances verified. By doing so, the https://traderoom.info/ complaint alleges that Peterson and the Braverock Entities acted as unregistered dealers. The photo of the document must be without glare from the flash, all information must be readable.

However, your funds will only be deposited to the wallet set as default, and you can then transfer freely between your internal wallets. On the date of last updating this review the 24-hour trading volume was as low as USD 1,612 vis-a-vis  USD 19,676 on 18 September 2021, according to Coinmarketcap.com. 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. Most traders in the crypto world today carry out their trades via desktop (around 70% or so).

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 Exchange is a cutting-edge platform that offers prebuilt TA, signals, and other features for cryptocurrencies listed on their site. Their team has built trading desks in Chicago, IL, and they offer a REST API as well as WebSocket and FIX options. There are various explanations and tips on how to navigate the platform placed in easy to find locations. There are also various market orders available on Beaxy, such as Market, Limit, Post Only, Stop Loss, Stop Loss Limit, Limit IOC, Limit FOK, Take Profit, and Take Profit Limit orders, which will impress more experienced crypto traders. Beaxy utilises a simple to use and intuitive UI, which is customizable and includes scrolling ticker settings for speed, visibility, and favorite pairs.