Beaxy.com Crypto Exchange Review: It Is Good Or Bad?

About Beaxy.com

Launched on 10 Jun 2019, Beaxy.com Exchange is a centralized exchange, headquartered in The Board of Trade in Chicago, IL. The exchange claims to support 6 fiat pairs, a two-way fiat ramp, credit and debit card support, and spot cryptocurrency trading. It is a U.S. registered, FinCEN money servicing business.

Cryptocurrencies are reportedly secured by Curv institutional custody and fiat accounts are insured up to $250,000. Beaxy Crypto Exchange offers prebuilt TA, signals, for cryptocurrencies listed on their platform. Members of their team have reportedly built trading desks in Chicago, IL. Their API feature REST and WebSocket as well as FIX,

Beaxy.com Crypto Exchange Basic Points

How To Start ?

How To Sign Up At Beaxy Crypto Exchange?

It Is Very Easy To Sign Up At Exchange . Just Click On Sign Up Button At Website .Fill Registration Form With Correct Details Like Your Email , Phone Number , Password Etc . Once You Fill All Data You Get Verification Link At Your Email . Just Verify Your Link For Successfully Verification.

How To Deposit Fund At Beaxy Crypto Exchange ?

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 .

How To Trade At Exchange ?

Once your account is funded, you can then begin day trading at Valr. 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.

How To Withdraw At Beaxy Exchange ?

Withdrawing your funds from Swipe is very easy. 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.

Beaxy Trading fees

Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade. The maker thus “makes” the order being executed. The other party is the taker, who places the order that matches (or “takes”) the maker’s order. The maker-taker model normally encourages market liquidity by rewarding the makers of that liquidity with a fee discount.

Beaxy’s trading fees for takers are 0.25%. This fee is line with the historical global industry average, which was arguably around 0.25%. 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. Makers pay 0.15%, which is 0.01% below industry average. 

Beaxy Withdrawal fees

Beaxy.comare exchanges out there that charge low trading fees and then hit you with high withdrawal fees. Because once you’re in, you can’t get out without paying withdrawal fees. This exchange, however, is on the totally opposite side of the spectrum. They only charge the network fees when you execute a transaction. The global industry BTC-withdrawal fee is 0.00053 BTC per withdrawal. The network fees vary from day to day but are roughly 15-20% of the global industry average BTC-withdrawal fee.

Deposit Methods

At this exchange, they accept fiat currency deposits (both wire transfer and credit cor debit card transfers) through Simplex. This means that this exchange is what we call an “entry-level exchange..

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Mobile Support

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). 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. You can download the Beaxy app for both iPhones and Androids.

Easy KYC

As one advantage that Beaxy promotes, they mean that the KYC-procedure on their platform is much easier to follow and comply with than the KYC-procedures at other major American crypto exchanges. The information in the below picture comes from 18 September 2019.