The team also declare that standards on the platform are in line with PCI-DSS and ENISA security standards. In addition, they promise to maintain the confidentiality of user data, and state that Beaxy does not and will not sell user data to third parties. 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. You can also make transfers within your wallets and create new ones. The first time you deposit into a wallet, you will be asked to generate an address for it. 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.
However, there are 3 main Beaxy alternatives that differentiate themselves by being superior on certain aspects. With a total of 100 trading pairs, that would equate to a maximum capacity of 22.5M tx/s. Additionally, the exchange stores funds in multiple cold wallets distributed across dozens of secret geographic locations. This makes it essentially impossible for a criminal to compromise all of the exchange’s funds. This system can even protect users that have added their username and password into a Beaxy phishing site, by blocking an attacker if his IP does not match the one of the actual owner of the account.
Beaxyis operated by Beaxy Digital, Ltd, which is a company registered in St. Kitts & Nevis in the Caribbean Islands. The team behind the exchange is transparent in nature and contains CEO Artak Hamazaspyan, CTO Mittal Patel, COO John Galvagno, and Director of Engineering Federico Almaraz. Although Binance has had some minor crises in the past, having been hacked for 7,000 BTC at one point, its CEO has proven to handle such situations perfectly and no users have ever lost their funds. Beaxy offers a decent exchange that is likely a good fit for most people reading this review.
Financial Services & Investing Overview
While compensation arrangements may affect the order, position or placement of product information, it doesn’t influence our assessment of those products. The introduction of Bitcoin SV comes as a result of a partnership between Beaxy Exchange and Fabriik Markets, a leading digital asset market-maker and liquidity provider. Fabriik Markets will provide market-making services to Beaxy Exchange for BSV-based trading pairs. Last but not least, users can benefit from the Loyalty Rewards and Referral program provided by Beaxy. Both of these programs are designed to reward existing customers and allow them to invite new users to the platform. Considering how big some of the other cryptocurrency exchanges are these days, the company will need to use every tool at its disposal to compete with the big guys. By actively relying on its community members to do so, the company aims to make a positive impact.
- Naturally, referral programs and options to customize the trading experience are also positive.
- BXY is the native asset for Beaxy Exchange and is used by its traders to receive discounts on trading fees and earn loyalty rewards by keeping them locked.
- Beaxy is a brand new cryptocurrency exchange that aims to compete with Binance by offering a more powerful trading engine, more elaborate order type options, low fees, and excellent customer support.
- Members of their team have reportedly built trading desks in Chicago, IL. Their API feature REST and WebSocket as well as FIX, view the documentation here.
- Highly recommend this app for anyone who wants to track or trade crypto on mobile.
- The team behind the exchange are aiming to provide a comprehensive service that appeals to users of all experience levels.
- 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.
Check out CoinGeek’sBitcoin for Beginnerssection, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain. Get the latest crypto news, updates, and reports by subscribing to our free newsletter. You will receive an email with instructions for how to confirm your email address beaxy coin in a few minutes. You will receive an email with instructions on how to reset your password in a few minutes. KuCoin Futures-Earn beginner gift up to $500Take 30s to create an account and claim the beginner gift when you complete simple tasks. When the price hits the target price, an alert will be sent to you via browser notification.
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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.
A few months later, Beaxy 2.0 launched on February 25th, 2020. Beaxy operates as a web-based trading platform through the use of an excellent user interface that just about anyone can understand and use. It also has fully customisable features such as scrolling settings for speeds, visibility improvements and favourites. 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%. Users can also earn a portion of trading fees by locking up PLS tokens and onboarding friends onto the platform via the referral program. CHICAGO Beaxy Exchange, the popular Chicago-based digital asset exchange, today announces that it has introduced trading support for Bitcoin SV on its platform.
Beginners Guide To Beaxy Exchange: Complete Review
Competition continues to heat up in the world of cryptocurrency exchanges. That’s a very good thing, as the demand for the “perfect service” has not diminished in the slightest. More variety in platforms allow for a more versatile ecosystem, which will benefit everyone in the long run.Beaxyis an all-in-one cryptocurrency exchange platform which gives users all the power and control over their finances. CoinCheckup provides live cryptocurrency prices and charts, listed by crypto market cap. Get latest crypto prices, predictions, news, and historical data for Bitcoin and thousands of altcoins. Diamond Account– Requires the staking of 1,000,000 BXY, and yields a 25% discount on trading fees with a 500 BTC daily withdrawal limit.
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Naturally, referral programs and options to customize the trading experience are also positive. And this is why BSV is continuously being listed on top digital asset exchanges all over the world. Its value has been proven through its stable protocol and innovative technology. Most recently, Chicago-based digital asset exchange company Beaxy Exchange has included Bitcoin SV in its roster. Beaxy’s superior customer service team provides prompt 24/7 live support.
The result is a platform with extremely low latency and market leading high speed data transmission. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services.
However, there are naturally people out there that want to do it from their smart phone as well. If you’re one of those people, then this platform can still be for you.
Bitcoin SV, with SV standing for Satoshi Vision, is the rebirth of the original Bitcoin, consistently staying true to Bitcoin creator Satoshi Nakamoto’s vision of Bitcoin. Early last year, BSV has successfully restored the Bitcoin protocol as close as possible to its original design. Now set in stone, the BSV protocol provides a rock-solid foundation for developers to build applications and platforms on, with unlimited potential for use cases. Together with this base restoration comes unbounded scalability to handle big and bigger data, professional-grade security and a regulation-compliant environment that makes it more than ready for global adoption.
Making the process of moving global currencies in and out of crypto faster, cheaper, and more convenient. The team at Beaxy aim to provide crypto/fiat functionality, high performance capabilities, cutting edge security, and extensive customer support, alongside reasonable fees.
Labeling itself as an all-in-one cryptocurrency trading platform is a tall order to live up to. For the Beaxy team, the desire to revolutionize the world of cryptocurrency trading is a top priority. It’s evident not all trading platforms give users the control over funds they need or deserve. Instead, most companies act as a custodian over customer funds, which can create a lot of issues further down the line.Beaxy wants to shake things up and bring strong competition to the other players in this industry. Beaxy has security measurements in place that are compliant with stock market financial regulations such as AML and KYC vetting processes. The original Beaxy platform was overhauled by a new team of developers and legacy finance professionals at the end of 2019.
- Beaxy Exchange offers a safe, compliant, and reliable trading platform.
- Keeping the momentum going will prove to be a crucial challenge, as the competition will not sit by idly.
- Beaxy believes that cryptocurrencies can thrive alongside national currencies.
- This is a great opportunity for the global audience as well, as Beaxy will provide fiat on and off-ramps for traders using the USD, EUR, GBP, JPT, CAD, and AUD.“
View the total and circulating supply of Beaxy Token, including details on how the supplies are calculated. In this article I will give you some pointers in how to recognize scam coins & projects through whitepaper research. One of the biggest challenges in the crypto space is to find the right projects at the right time. 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. You can use the “Take pictures with Smartphone” feature, and both a Driving License and National ID must have both sides uploaded.
Phase Two: Support Added For Six National Currencies
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Platinum Account– Requires the staking of 500,000 BXY, and yields a 20% discount on trading fees with a 200 BTC daily withdrawal limit. Gold Account– Requires the staking of 150,000 BXY, and yields a 15% discount on trading fees with a 100 BTC daily withdrawal limit.
The exchange offers 24/7 support out of their 3 offices around the world. After generating your address, all you have to do next is to deposit your coins on that address and wait until the transaction is confirmed by the network. At the time of writing, Beaxy has a daily volume of just $8M. However, that is understandable when considering how young the exchange still is. The team operating the exchange has proven to be very transparent. Beaxy’s CEO Artak Hamazaspyan, and CTO Mittal Patel, have both assisted multiple conferences and are actively engaging with their users on social media.
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As a trader, you can now enjoy the benefits of Beaxy’s globally sourced liquidity that provides tighter spreads and greater depth that allows you to enter and exit a position at more competitive levels. As well as the peace of mind knowing your fiat holdings on Beaxy Exchange are backed by FDIC insurance up to $250,000 per account. 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.
Furthermore, Beaxy supports both the US Dollar and Euro, making this platform more attractive to users around the world. The company also uses multiple wallets per currency, which seems to indicate they will keep the majority of funds in cold storage at all times. This is a common practice in the cryptocurrency trading industry, as leaving funds in a hot wallet will attract the attention of hackers. By actively maintaining different wallets per currency, the company will also ensure a smooth day-to-day operation at all times. In this white paper we will discuss the needs of the cryptocurrency traders and the space in which Beaxy fits. The Beaxy is an all-in-one exchange created by a group of professional coders & traders that supports users of all backgrounds. The Beaxy Exchange platform is smart, secure, and easy to use, combining features in a way as yet unseen.
Author: Steve Goldstein