So, Beaxy is perfect for those traders who want to enhance their crypto-trading experience without much effort and headache. Beaxy is advantageous to work with exactly because they have so many different tools and instruments that can be integrated right into the trading experience very neatly. Most exchanges don’t have these, because you’ll have to https://traderoom.info/what-to-expect-from-roboforex-broker/ develop them yourself or buy a license to them from some third-party. It’s relevant – most speak about some important changes on the markets or on the exchange. It’s informative – many teach you how to be a better trader as well as keep you aware of recent news. Lastly, it’s not boring, which is always a bane of the otherwise well-done text content.
Most 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. Once your account has been verified, click on the ‘DEPOSIT’ button, which you’ll find at the top right-hand side of the screen. Choose which currency you want to deposit and then you will be provided with the Wallet details that you need to transfer the funds to . Austin DeNoce is a writer, personal investor, and entrepreneur who is focused on trading and investing education for macro, crypto, equities, derivatives, and foreign exchange traders. He graduated from the University of California, Santa Barbara with a bachelor’s in philosophy and carries a deep passion for a first-principles approach to investing and education therein.
The security measures on Beaxy are brought to you by Curv – a security provider that specializes in decentralized methods of protecting your transactions. What it means is that your data will basically flow through a dedicated blockchain network, although without the usual flaws of the decentralized approach. Despite these features, Beaxy has a number of challenges to overcome, for example the Loyalty Reward Program is not available to residents of the US, while fiat transfers still haven’t been enabled.
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.
Beaxy Exchange Review: Complete Beginners Guide
However, the exact technology remains vague, even after a thorough research on Curv’s own website. The exchange also incorporates TradingView charts with a full range of technical indicators, and trading analysis, data research, and back-testing services from OneMarketData. You can use the “Take pictures with Smartphone” feature, and both a Driving License and National ID must have both sides uploaded. Smartphone users can click the link at the bottom of the panel to get further instructions via email on how to proceed. You must then select the country your document was issued in, before uploading the document.
- It’s a highly customizable user interface with a developer’s kit attached to it.
- Truthfully, integrating the Hummingbot will probably be too inconvenient or complicated for most to endure, but it’s a great option for serious algo traders nonetheless.
- 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.
Go to the “Withdraw” window, select the asset you want to take out and fill all the required fields. Note that you won’t be able to withdraw currencies if you haven’t secured your account with 2FA and/or whitelisted addresses. Although the Beaxy exchange itself doesn’t technically have a trading bot, it has linked up with Hummingbot, which allows users to incorporate its open-source trading bot into the platform via an API. The trading fees for Beaxy are also relatively low, with a maker fee of 0.1425% and a taker fee of 0.2375%. I would love to see a live chat instead of the chatbot as it’s just not enough in many cases when more difficult issues arise. Other than that there is much to complain over as Beaxy seems to be a very complete digital asset exchange.
Beaxy.com Crypto Exchange Basic Points
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. There are both day and night modes available, making the trading panel easy on the eyes and presenting information and execution panels in a clean and easy-to-read manner. TradingView provides the price charts that are located in the center of the interface and provides a full range of technical indicators and various charting color options. 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.
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. 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. 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.
Verification on the beaxy.com platform
Among these sources, you will find LinkedIn profiles, Trustpilot reviews, Crunchbase, Sitejabber ratings, whitepapers, government reports, and other reputable sources. Since Beaxy is registered as an MSB in the US they are obliged to keep a reserve fund for their clients. When you trade on the exchange you can rest assured that up to $250,000 of your capital is insured and if the worst-case scenario would ever happens, Beaxy got you covered. Simply download and install the platform and set the parameters/criteria you want to automate your trades and then let Hummingbot do the rest.
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. Beaxy is a new cryptocurrency exchange that aims to get ahead of its competition by making improvements across the board, and equipping crypto traders with a completely modernized approach to buying and selling digital assets. In summary, we think the Beaxy exchange and trading platform would serve most crypto traders well, but it is far from the best. Its unique Trender service, however, could make it a good stepping stone for new traders, so it’s a platform still worth considering if you’re just getting started in your trading journey. After diving into all its services for this Beaxy review, we believe the Beaxy exchange is an above-average trading platform but far from a top competitor in the cryptocurrency exchange space.
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. 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%.