If there are also 10 million BXY tokens locked up in various accounts on Beaxy, there will be 10 million PLS tokens in circulation. The wallet columns include the Wallet Name, Available Balance, Reserved Balance, and Locked Balance, which is the balance locked away in any staking or loyalty programs. You also have Pending and Total Balance columns and the Is Default feature allows you to set the default wallet for each currency. The first time you deposit into a wallet, you will be asked to generate an address for it.
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. However, like everything else, for this to really shine, you need actual trading volume. With over 100 trading pairs, Beaxy will have a maximum capacity of 22.5M tx/s.
Beaxy Cryptocurrency Exchange Review
More so, the provision of a feature called TradingView came advantageous as it is loaded with necessary technical indicators and charting instruments. To buy bitcoin or any crypto, simply select any of the ones supported by Beaxy. The exchange will issue you an order form, which is then transferred to an order book. This order book is where all cryptocurrency transactions on Beaxy are listed, including purchasing, selling, and even exchanging crypto.
Beaxy Exchange Overview
Beaxy is a new exchange that looks to be one of the most promising up-and-coming exchanges on the market, bringing many new features and a high-performance trading engine to market with a smooth user interface. The platform is set out in a way that makes it easy for new users to get acquainted. The exchange also features the most advanced interface, data compilation, trading tools, and security measures to date. 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. There are also further resources aimed at newer traders such as the FAQ section and Knowledge Base, and the team is active on social media. It can be contacted across their different channels, including their Telegram group, Discord server, and Twitter account.
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So, Beaxy is perfect for those traders who want to enhance their crypto-trading experience without much effort and headache. 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. As Beaxy intends to be a one-stop shop for all your crypto needs, it provides a decent selection of cryptocurrencies, with the most popular kinds including Bitcoin and Ethereum. To see the full list of tradable cryptocurrencies, you may check it on the official website.
Beaxy: Services and Features
To add to its conventionality, the platform’s interface is completely customizable, adding to its flexibility on the spot. In addition, includes scrolling ticker settings for speed, visibility, and favorite trading pairs. As a finishing touch, Night and Day modes have been included for around-the-clock trading. Beaxy’s trading platform also has TradingView charts with a full range of technical indicators, and a variety of charting color options for ease of use. If you happen to be a client without any trading background, Beaxy’s authoritative guide about cryptocurrencies will help you navigate your way through. Exchanges with low technological capabilities tend to malfunction when trade volumes increase.
Speed and execution is usually one of the most sought detail for any client and the trading platform spared no expenses to make its buy-and-sell executions as quick and simple. Beaxy’s trading platform makes use of high throughput and low latency database performance capabilities, allowing the platform to handle up to 225,000 transactions per second (TPS) with less than 1ms of latency. It was developed with long-term scaling in mind, featuring revolutionary functions to moderate demand spikes, coupled with automated scaling and resource balancing features. In addition, Beaxy features an automated trading analysis system, data research, surveillance, and back-testing services, which were developed in collaboration with Wall Street-backed OneMarketData, LLC. As the Beaxy Exchange has kept its focus on promoting and continually developing its BXY tokens, they offer an interesting incentive to keep clients interested in it. This promotion comes in the form of its “Staking program” where clients can invest in PLS tokens.
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. According to an official press release, the SEC alleges that Beaxy operated without registering as a national securities exchange, broker, or clearing agency. I agree to receive newsletters from CryptoVantage and accept the data privacy statement. Beaxy Exchange is safe, though it has had an issue in the past where their system was exploited and resulted in the loss of 44 Bitcoins and 111,000 Ripple. Users are encouraged to enable Two Factor Authentication (2FA) and they make a point to point out phishing scams to avoid.
For instance, one of the more recent additions is Gunthy tokens issued by the company with the same name and used to fuel Gunbot, one of their creations. It reportedly increases your profits, but if you’ll want to invest some of your spare Gunthy tokens into Bitcoin, you’ll need to come to Beaxy for that. Besides the possibly good crypto-trading experience, Beaxy has several unique uses that big platforms like Beaxy do not. They have basically collected an extremely large library of different cryptocurrencies and crypto tokens. Of course, it’s nowhere near Binance with their 500+ pairs, but it’s still a very extensive library.
- The site accepts multiple types of fiat via bank and wire transfers while also accepting crypto deposits.
- Connecting your bank account allows you to make instant deposits and withdrawal of your fiat holdings.
- 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%.
- As mentioned, Beaxy has signed many agreements over the years to allow numerous tokens and coins on their platform.
Looking at the platform, it has a clear charting for market data next to order types. It is also packed with various indicators and tools that allow you to draw on the chart and determine the trends for the current trade you are looking to execute. Beaxy has several noteworthy features despite being relatively young in the industry. It is also a good starting point for a cryptocurrency exchange to offer quality and efficiency at the same time.
Deposit Funds
More so, the operators pledged to secure all confidential information of its clients. Algorithmic trading is made easier with Hummingbot through its advanced strategies and an automated trading that functions day and night. It has a user-friendly interface, allowing even novice traders to perform algorithmic trading without prior knowledge. With the new Beaxy Cryptocurrency Exchange, traders will benefit from operational efficiencies, constant innovations, and an empowered financial freedom.
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. Beaxy Exchange presents itself as a “next-generation digital asset exchange” whose vision is bridging the gaps between the industries of cryptocurrency trading and legacy finance. It is somewhat similar to what Binance offers, along with a powerful trading engine, much more specific order type options, lower fees, and a professional customer support team. Overall, the Beaxy Exchange seems legit and show promise to be one of the leading companies in the crypto-trading scene. One thing that many seasoned traders would notice is its lack of cryptocurrencies in its listings. This can be a problem for some as it could deter most from the advantage of building an organic and diverse trading portfolio.
- You can edit the initial blueprint in many small ways – there’s even an official guide to almost every small detail, as well as a Discord server dedicated in part to this API and its development process.
- No, Beaxy is not similar to a traditional finance broker, they offer no financial services such as lending.
- 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.
They have also integrated with Tradingview, Coingecko, Delta, Coinmarketcap, Blockfolio, Hummingbot, and beaxy exchange review CoinStats. 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 KYC process is the same for desktop or mobile users from this point, and Mati will attempt to use your camera in order to take your photo for KYC, and you may need to grant your browser permission to use the camera function. 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. Mati will send a link to this email that can be used to continue the verification process by phone.
Cryptocurrency is a bit different from other trading products (stock, Forex, etc.) in that coins are mostly traded on exchanges built into the websites that belong to one broker or another. It’s part of their nature, because it’s easier for them to set up exchanges in Web rather than provide trading on the usual trading platforms like MT4. The Hummingbot feature is all about accessing algorithmic trading without having to actually learn it. Hummingbot is one of Beaxy’s partnership features and it performs automated trading through bots, which is its main trading strategy. The bots work day and night, which is beneficial for both beginning and professional traders.
Despite its relative infancy to other major exchanges in the industry, Beaxy has proven to be a major contender in the market. While the assets offered by Beaxy are still limited as of the moment, the exchange currently works on supporting more cryptocurrencies in the future. Once more cryptocurrencies are released, what with the current services offered by this exchange, Beaxy is set to boom in the near future. Tech and tools provide a glimpse into Beaxy’s high-grade cryptocurrency trading technology.
Its live chat feature operated by industry professionals and financial experts stand as an excellent feature. This allows its global clients to comprehensively get answers without a language barrier. The platform also provides a ticket feature for immediate queries and an FAQ section for basic questions. More so, the support team may be accessed through multiple communication channels such as Telegram, Discord, and Twitter. The most common problem with platforms is their tendency to malfunction when they cannot withstand large amount of trading transactions.
The exchange also incorporates the ERC20 BXY Token which allows users to participate in staking in order to receive a 50% discount on trading fees. Despite being established just recently, Beaxy already gained popularity by offering services far more optimum than the industry standards. The incorporation of leading technologies and instruments made it the best option. Apart from the advantages that its platform carries, it also appeals to traders by having generous promotions and bonuses.