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Kucoin rose to popularity in late 2017 after listing several smaller cryptocurrencies that Binance refused to add to its exchange. Charging a trading fee of 0.1% for both maker and taker trades, it’s fee structure is slightly higher than the one of Beaxy. The most basic identity verification level enables users to withdraw up to 30 BTC worth beaxy exchange of cryptocurrency per day. To pass this KYC level, users need to submit a national ID document, driving license or Passport. In order to prevent the issues that have plagued exchanges like BitMex and Binance in times of exploding demand, Beaxy has developed an architecture that can support up to 225,000 tx/s for every trading pair.
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. The loyalty rewards payout for this day will be $2,500, and this balance is displayed on the Loyalty Rewards page as a “Pending Balance”, and changes everyday once the calculations are performed at midnight. The Pending Balance gets credited to user accounts on the first of each month, and Beaxy provides downloadable, monthly loyalty rewards reports and rewards are paid out in each kind of currency that the exchange charges a commission on. Technology – The exchange makes use of high throughput and low latency database performance capabilities, and Beaxy is able to handle hundreds of thousands of transactions per second with less than 1ms of latency. The platform is also built for long term scaling, and includes functions to mitigate demand spikes, as well as automated scaling and resource balancing features. Beaxy was also built in collaboration with OneMarketData and incorporates its trading analysis, data research, surveillance and back-testing services.
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. Holders will receive a proportionate share of up to 25% of the monthly transaction fees collected by the Beaxy Exchange according to the number of PLS tokens held. Receiving a proportional share of loyalty rewards means what you collect through the Loyalty Program will be impacted by how many PLS tokens you have locked relative to how many PLS tokens others have locked. We want to use BXY to give users the opportunity to add unique features that will be obtainable directly through your exchange account.
To execute transactions such as deposits and withdrawals, clients are allowed to use debit or credit card or wire transfer. As already mentioned, payments through Beaxy are also made convenient with the platform’s capability of instantly converting fiat currency into Bitcoin. Fundamentally beneficial to clients, this only leaves its clients with having to think of what cryptos they would like to purchase, when their time affords. Clients would no longer be bothered with complicated processes upon conversion of fiat currencies to Binance blocks Users BTC as it is already done for them by Beaxy’s comprehensive function. Bitcoin users will find the transaction process challenging as it is comparatively slower than transactions done with Ethereum. This is probably owed to the fact that BTC is in greater demand given its greater volatility and thus, its value. The review team had found this not to be necessarily hampering, given that transacting through the platform, when using fiat currencies are used, could be done speedily as it does not require a long and tedious process.
This exchange, however, is on the totally opposite side of the spectrum. The network fees vary from day to day but are roughly 15-20% of the global industry average BTC-withdrawal fee.
Finally, Beaxy is run by an experienced team of traders and coders led by their co-founder Artak Hamazaspyan who has a 10 years’ experience of software development in addition to being an experienced crypto miner and a trader. She also became an Ethereum Smart Contract Developer and an active trader. The exchange will also provide a 24/7 support to their exchange users with live chat and an AI bot. That will offer more options on how customers can handle their orders and offers. For instance, with an OSO order, one can plan to execute a single order with a primary and secondary part to first buy coins during the dip and sell them at a certain chosen peak price.
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One of the strongest value propositions of Beaxy is its extremely attractive fee structure. Beaxy is one of the few cryptocurrency exchanges that have their own cryptocurrency, the BXY token. For a limited time, Beaxy will match your deposits up to $500 so that you can trade or own more of your favorite cryptocurrencies. Btcoin TOPS 34000$ Opt-in to the program and make a deposit with cryptocurrency, fiat currency, or your credit card to have your bonus credited in USDC within 24 hours. Beaxy supports deposits and withdrawals with dozens of cryptocurrencies, every major credit and debit card, and six major fiat currencies .
Order books contain orders to buy or sell an asset that are determined by exchange users. Orders are matched by the exchange matching engine to produce completed traders. Download the Beaxy crypto trading app and trade your BTC and access markets anytime and anywhere. The exchange has made headlines recently by proclaiming to have service which will make it more preferable to Binance and other leading cryptocurrency exchanges. Their partnership with One Market Data- which lists Bloomberg among their clients- allows them to include features such as trailing orders or OSO.
A rich feature set doesn’t come without tradeoffs on the ease of use, hence why Beaxy is an ideal exchange for people that have already interacted with a cryptocurrency exchange at least once. If the token is locked for less than 1 month, PLS holders will be entitled to 15% of trading fees. On the other hand, this percentage increases by up to 25% if the token is locked for over 6 months. Additionally, if users combine staking BXY together with staking their earned loyalty points, they beaxy exchange can bring them down even further to just 0.075%. Beaxy’s CEO Artak Hamazaspyan, and CTO Mittal Patel, have both assisted multiple conferences and are actively engaging with their users on social media. By creating an account you get access to a wide variety of payment rails, automated trading systems, assistive trading tools, bulletproof security, and more. Beaxy gives you access to globally sourced liquidity that results in competitive entry and exit levels when you tradeBTC-USD.
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. 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.
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The user is given the freedom to fund the account with whatever cryptocurrency he or she prefers. Relevant educational resources for traders will be linked directly in the exchange. ’ near anything on the exchange will bring you to a related support article. Beaxy’s superior customer service team is staffed around the world and provides prompt 24/7 live support for users, so you can get support even in the extreme cases where you need help as soon as possible. Beaxy believes that cryptocurrencies can thrive alongside national currencies. As such, their aim is to reduce that layer of friction between crypto and fiat currencies to the fullest extent possible. By providing an on and off-ramp for currencies that are used by more than one billion people worldwide, Beaxy took a giant leap in the right direction.
People joining while using the referral program and receive discounts of 20% on the trading fees for 60 days. The https://www.binance.com/ 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.
In addition, they promise to maintain the confidentiality of user data, and state that Beaxy does not and will not sell https://www.beaxy.com/ user data to third parties. Customer Support –Beaxy provides 24/7 customer support with live chat functionality.
Beaxy Features
- However, US clients of Coinbase can only transfer their holdings in USD.
- Many exchanges offer support for multiple national currencies, but no others provide access to them outside of the countries the currency is based in.
- Beaxy Exchange has taken note of trader’s appetite for a wider variety of national fiat options that can be used to take advantage of global mispricing and foriegn exchange arbitrage opportunities.
- This could also work to bring more FOREX-dedicated traders over to the cryptocurrency markets.
- Breaxy Exchange gives access to multiple global currencies, ultimately giving traders more options and a higher degree of flexibility with their decision making.
- For example, Coinbase offers cryptocurrency to fiat trading pairs for USD, EUR, and other national currencies.
The Beaxy team aim to provide a fully featured exchange that facilitates a comprehensive trading experience and incorporates many of the best features found amongst the current industry leaders. This platform is not only available from your desktop, you can also access it via your mobile. Most Btc to USD Bonus traders in the crypto world today carry out their trades via desktop (around 70% or so). However, there are naturally people out there that want to do it from their smart phone as well. 2020 was a year full of explosive growth in crypto – we are looking forward to an even wilder 2021.
Beaxy is a next generation cryptocurrency exchange powered by the same technology driving Wall Street. With a revolutionary matching engine and more order types than any other spot exchange, Beaxy sets itself apart technologically. It further distinguished itself with a transparent and fair listing process, prompt customer support, and a dedication to building bridges between projects and players in the cryptocurrency community. The move to launch BSV-based trading on beaxy exchange comes as demand for the digital asset continues to grow globally, with the utility of its massively scaling blockchain driving expansion of data use cases across many industry sectors.
