The Beaxy Exchange is an up and coming cryptocurrency exchange that aims to be an all-in-one exchange with a variety of tools catered towards the user to give them a better experience. Benefit from obtaining the ERC20 Beaxy token, you can use these to pay off fees and you can trade them for other tokens. Have a blast with its fast processing speeds, 24/7 customer support, and great trading tools.
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Beaxy Exchange Review
About the Beaxy Exchange
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.
The exchange has a variety of different tools that can help the user execute their trades. One of the best features is the calculator that you can locate at the top of the trading graph. You can use this to calculate the profits and losses of certain trades that you’re thinking about making. Explore both the ‘Buy’ and ‘Sell’ tabs, if you manage to calculate a trade that you’d like to place then you can click the Autofill button on the calculator to do so.
The token itself is an ERC 20 token and you can use them to take off 50% of your trading fees. They also offer helpful 24/7 customer support, high trade processing speeds and high-grade security.
Beaxy is owned by Beaxy Digital Ltd and it’s founders include CEO Artak Hamazaspyan and CTO Mittal Patel.
- Their offices are based upon the Caribbean Island of St. Kitts & Nevis.
- Can trade 225,000 transactions per second.
- Has a circulating supply of 160 million at time of writing and a max supply of 500 million.
- Includes a variety of security protocols to always protect your account.
How Does It Work?
The Beaxy Exchange is similar to many other exchanges that you may be familiar with just like Binance. There’s a difference though, as Beaxy has more security protocols and a better KYC checking system so you can legally deposit any cryptocurrency. This exchange is available in 185 countries, whereas other exchanges are not allowed in some major countries.
The exchange, of course, has a very user-friendly interface and there are both day and night modes available. Because of the fast transaction speeds, there are very rarely any delays on the transactions that you’re receiving. TradingView provides the price charts that are located in the centre of the interface. At the top of the interface are a variety of important factors that can help you with your ongoing trades. These include statistics like the volume, bid/ask spread and the percentage changes.
The security protocols within Beaxy are very effective and leave your account protected in many ways. Every time you log into your account from a new IP address then you need to confirm the login from your email. There’s also the 2FA code that you must have in order to log into your account to make sure you always have the key to log it into. These features really bring the user peace of mind because they know that their assets are safe.
Deposit and Trading Fees
The fees on the Beaxy exchange are fixed at 0.2% of whatever you deposit, however, you can use the Beaxy token to take 50% of the fees off your transaction. You can also get involved in the Staking Program on the exchange which gives you an extra 25% off your trading fees if you’re a regular trader. 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.
The PLS token is an exclusive token to the Beaxy exchange, you can only trade your BXY tokens for this token and when you receive it you can lock them up for a certain time. The purpose of locking these tokens up is so you can receive a percentage of your trading fees back.
- Up to 1 month: receive 15% of fees collected
- 1–6 months: receive 20% of fees collected
- Beyond 6 months: receive 25% of fees collected
Withdrawal And Transfer Limits
In order to trade on Beaxy you need to verify all of your details via a KYC check. Once you have been approved by the team, you become a standard user and have a withdrawal limit of up to 30 BTC a day! However, if you’re looking to be an active trader on Beaxy then you can stake your BXY tokens to upgrade your account. 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.
That’s not all though as you can become a Gold Account by staking a massive amount of 150,000 BXY tokens. When you get a Gold Account you can withdraw up to 100 BTC per day and get 15% discount on trading fees. Stake 500,000 BXY tokens to get a 20% discount on trading fees and a 200 BTC daily withdrawal limit, this is apart of the benefits from the Platinum account. Receive a Diamond account by staking 1,000,000 BXY tokens, you can get a 25% discount on trading fees as well as a daily BTC withdrawal limit of 500 Bitcoin!
What Cryptocurrencies are available?
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.
|Ethereum Classic||ETC||✓|| |
|Ripple||XRP ||✓|| |
|WAVES||WAVES ||✓|| |
|USD Coin||USDC ||✓|| |
|Pundi X||NPXS||✓|| |
|ICON||ICX ||✓|| |
|Polymath||POLY ||✓|| |
|Basic Attention Token||BAT ||✓|| |
|AION||AION ||✓|| |
|Metal||MTL ||✓|| |
|Blockparty||BOXX ||✓|| |
|Bitcoin Cash ABC||BCH ABC ||✓|
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.
Before submitting a request you might be looking for a quick fix to your problem so check out the Frequently Asked Questions section to find the answer yourself.