Beaxy is a centralized cryptocurrency exchange that offers users a wide range of trading pairs and an advanced trading platform. The exchange has high liquidity and implements good security measures to protect users’ assets. However, as with any centralized exchange, there are potential drawbacks, including the centralized nature of the platform, vulnerability to hacking, limited customer support, possible regulatory issues, and trading fees. Ultimately, whether or not Beaxy is the right exchange for an individual will depend on their specific needs and priorities. It is important for individuals to carefully consider the Pros and Cons of the exchange before making a decision to trade on Beaxy.

While this isn’t quite as appealing as many of the other crypto exchanges offering 0.1% maker and taker fees, it is certainly well above average and a very competitive rate. For a limited time, Beaxy will match your deposits up to $500 so that you can trade or own more of your favorite cryptocurrencies. 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 (USD, EUR, GBP, JPY, CAD, AUD).

The Trustpilot Experience

More than 500 digital assets can be bought, sold, and traded on the platform. Their pro platform supports margin trading, staking, OTC trading, and advanced order types. There are several crypto exchanges you can use to trade digital assets. Our recommendation for the best Beaxy alternative is the Kraken crypto exchange. This platform allows Beaxy users to employ market making and other advanced trading strategies via a simple and easy to use interface. Beaxy is excited to offer institutional grade custody of cryptocurrency via your partner,  Fireblocks  What does this mean for you?

  • Beaxy was a fiat-to-crypto exchange with an innovative loyalty program that provided users with multiple ways to earn rewards.
  • Now it’s time to deposit the funds that you want to trade with.
  • The exchange has high liquidity and implements good security measures to protect users’ assets.
  • The exchange takes pride in its strong focus on security and regulatory compliance.

Cryptocurrency will be credited to the exchange account within a few minutes. Rest assured, our extensive price comparisons and informative cryptocurrency guides are here to assist you every step of the way. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate.

How To Trade At Exchange ?

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 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. Launched on 10 Jun 2019, Beaxy.com Exchange is a centralized exchange, headquartered in The Board of Trade in Chicago, IL. In summary, we think the Beaxy exchange and trading platform would serve most crypto traders well, but it is far from the best.

The best traders use these wallets to store their crypto

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. The Beaxy cryptocurrency exchange supports over 40 trading pairs but only about half as many individual assets. 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.

Their API feature REST and WebSocket as well as FIX, view the documentation here. The Beaxy trading interface is more than satisfactory, with low trading fees and considerably more order types than most other crypto exchanges, but it is severely lacking in markets. Beaxy is a Chicago-based cryptocurrency exchange platform where users can easily buy, sell, store, and trade a wide range of crypto assets and fiat currencies. Beaxy aims to become a leader in the crypto trading space and is best suited to people with a good understanding of trading digital assets and using exchanges.

The World’s First Experience Based Crypto Event

The algorithmic trading strategies available through Hummingbot include pure market making, advanced market making, cross-exchange market making, and arbitrage. Once you download Hummingbot and create an account, you’ll have to connect your Beaxy exchange account through the API and then set the strategies and parameters you want to use to begin your automated trading. Beaxy surprisingly only supports a handful of USDT and USDC pairs as most of its trading pairs are with BTC. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.

Launched in June 2019, Beaxy is a new cryptocurrency exchange that aims to get ahead of its competition by offering unmatched security, performance, and superior tech. Referral programs, low trading fees, 24/7 support and options to customize the trading experience are also positive. With fiat support, crypto deposits, and a Gunbot trading bot partnership, the platform gained attention for rewarding active traders and challenging some of the best crypto exchanges like Binance and KuCoin. Launched on 10 Jun 2019, Beaxy Exchange is a centralized exchange, headquartered in The Board of Trade in Chicago, IL.

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. This means that no other crypto exchange will have access to this technology. The platform aims to provide traders with a comprehensive service that appeals to both newer traders and more experienced participants. You can save time by automating your trades, increase efficiency by employing bots to run day and night.

  • Visit Beaxy and create a free account to join the large community of traders that are already refining their results with assistive trading tools and automated trading systems.
  • 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.
  • It can be contacted across their different channels, including their Telegram group, Discord server, and Twitter account.
  • He has a keen and vested interest in cryptos involving decentralized backend exchanges, payment processing, and power-sharing.

The exchange claims to support 6 fiat pairs, a two-way fiat ramp, credit and debit card support, and spot cryptocurrency trading. Cryptocurrencies are reportedly secured by Curv institutional custody and fiat accounts are insured up to $250,000. Beaxy Exchange offers prebuilt TA, signals, for cryptocurrencies listed on their platform. Members of their team have reportedly built trading desks in Chicago, IL.

Adding CFX to your platform results in less chargebacks, higher acceptance rates, lower fees, and no rolling reserve requirement. Once CFX is integrated with your trading platform, your clients can purchase crypto for as little as 2.1% and the funds will automatically credit to their FX trading account. 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. Naturally, referral programs and options to customize the trading experience are also positive.

Beaxy was an innovative cryptocurrency exchange that offered lucrative rewards and strong trading features. This left previous users of the platform searching for a viable alternative. Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment. Wootfi.com is a comprehensive review platform that specializes in providing accurate, up-to-date information on the latest developments in the world of cryptocurrencies, forex, DeFi, crypto wallets, https://traderoom.info/beaxy-cryptocurrency-exchange-review/ and AI. Our team of experienced writers and analysts are passionate about their work and committed to delivering high-quality content to our readers.

Click on the ‘TRADING’ button at the top of the screen, and you will be taken to the main trading area. You now need to select the trading pair that you want to trade. Finally, enter the amount that you want to buy, decide whether you want to do a ‘market order’ or ‘limit order’, and then place your trade. 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. 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).

Beaxy Security

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. 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. CFX is a web app custom-built for one purpose To recover the margin FX brokers have been losing to PSPs. Too often providers and their clients are paying far too much to get into and out of crypto.

Trading fees can also be dramatically reduced through Beaxy Black, which we will touch on later. Beaxy’s order panels are a little unusual, but they are still straightforward to use, and Beaxy displays the trade total, fee amount, and available buying power right from the panel. If you want to learn all its services and whether or not you should create a Beaxy account, stick around for this in-depth Beaxy review. The Beaxy platform also includes services such as a trading bot API integration, a tinder-style swiping trading app, and free trading signals.