Bilaxy Crypto Exchange Review: It Is Good Or Bad?

About Bilaxy Crypto Exchange

Bilaxy Crypto Exchange is a centralized cryptocurrency exchange that has been active since April 2018. Its domicile country is unclear. This is not a red flag per se, but they recommend all visitors to be careful and form their own opinion on whether This is a legitimate exchange or not. The exchange is available in English and Chinese, so a reasonable assumption is that Bilaxy’s domicile country is either China or Hong Kong.

The Bilaxy exchange is a cryptocurrency trading service. You can trade Bitcoin, Ethereum, Litecoin, FXT Token, DRK Chain, Moonpot (BEP20), as well as over 300 altcoins and tokens on the platform. There are no fiat funds, only crypto-to-crypto pairs. They use the TradingView desktop trading terminal and an application for mobile trading based on the TradingView model. The app comes in versions for iOS and Android. There are no investment solutions, demo accounts, or training.

Bilaxy Exchange Basic Points

How To Start ?

Bilaxy Trading fees

Bilaxy Crypto Exchange exchange charges flat fees (i.e., the same fees for takers and makers). They have set their flat fees at 0.20%. This is slightly below the historic global industry average of 0.25%. However, they are seeing more and more exchange moving to lower trading fees, such as 0.10% and 0.15%. In any event, the trading fees charged by Bilaxy are not “off market”, but acceptable.

Bilaxy Withdrawal fees

According to information we have receievd, Bilaxy today charges a withdrawal fee amounting to 0.02 ETH when you withdraw ETH (previously 0.01 ETH). This is a bit above the global industry average for ETH-withdrawals.

Deposit Methods

Bilaxy does not accept any deposits of fiat currency. This means that the new cryptocurrency investors (i.e., investors without any previous holdings of cryptocurrencies) can’t trade here. In order to purchase your first cryptocurrencies, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency.

Referral Program

Bilaxy Crypto Exchange used to have a referral program for its users. It was easy to participate, the only thing you had to do was to create an account, get your link, invite your friends and then get your bonus (just as any other referral program really). This program seems to have been discontinued without notice, however, which is unfortunate for the users.

Supported Cryptos

At this exchange, you can trade a number of different altcoins (many very unknown), against the ETH. There is however no fiat currency trading. The fact that there are so many different unknown altcoins listed actually seems to be this exchange’s unique selling point and part of the purpose of existence.

Is Bilaxy Safe to Use?

Bilaxy Crypto Exchange exchange platform offers investors and traders access to trading their crypto assets. It gives users access to diverse markets and trading pairs. Due to its past issue, it is not advisable to consider the platform until there’s adequate information to back its usage.