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. The Beaxy team is already pretty big and has 25 full-time employees and 25+ halftime contributors all over the world. The exchange team contains CEO Artak Hamazaspyan, CTO Mittal Patel, COO John Galvagno, and Director of Engineering Federico Almaraz. I agree to receive newsletters from CryptoVantage and accept the data privacy statement.
- Of course setting up an account for buying and trading cryptocurrency will take a little bit longer because Beaxy requires users provide some amount of personal identification to avoid money laundering.
- Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development.
- It is not an offer to buy or sell any security, product, service or investment.
- Evan Jones was introduced to cryptocurrency by fellow CryptoVantage contributor Keegan Francis in 2017 and was immediately intrigued by the use cases of many Ethereum-based cryptos.
- Those people who are submitting a National ID or driving license, will have to take a picture of both sides of the document.
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Curv eliminates the need for private keys, replacing them with multi-party computation (MPC) protocols that enable transactions to be securely signed in a distributed way to eliminate any single point of failure. In short, the digital assets are under bulletproof protection on Beaxy thanks to Curv’s approach to security. Setting up a Beaxy account is a an extremely simple endeavor that takes a matter of minutes.
It can be contacted across their different channels, including their Telegram group, Discord server, and Twitter account. 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. Beaxy suspended services on its exchange and ceased operations “due to the uncertain regulatory environment surrounding our business,” the company said on its website—the SEC said in a statement Beaxy agreed to shut down the platform. It further charged founder Artak Hamazaspyan with conducting an unregistered offering in which he raised $8 million from selling Beaxy tokens (BXY).
- In total, Beaxy is selling 60% of the tokens and there is a soft cap of $4.2 million and a hard cap of $ 19 million USD.
- The first time you deposit into a wallet, you will have to generate the wallet first.
- For added security, the exchange only partners with high-class banking institutions to guarantee the safety of its clients’ funds as well as its own corporate accounts.
- 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.
- 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.
This includes their native token Beaxy Coin (BXY), which we will look at in the fees section. In a March 29 statement, the financial regulator alleged that Hamazaspyan and one of the companies he controlled raised $8 million from an unregistered Beaxy token (BXY) offering. The SEC added that the exchange’s founder misappropriated over $900,000 that was used for things like gambling. The U.S. Securities and Exchange Commission (SEC) has charged crypto trading platform Beaxy and its executives — including the founder Artak Hamazaspyan — for failing to register as a national securities exchange. The SEC charged Beaxy with raising $8 million through the unregistered offering of its native token, BXY. The regulator also alleges that the exchange’s founder, Artak Hamazaspyan, used $900,000 for personal use, including gambling.
Beaxy is still a young and rising cryptocurrency exchange but it already offers high-class services beyond its years. It employs beneficial services through partnership with different providers to continually provide and revolutionize their client services. Another advantage of trading with Beaxy is its high-grade security measures that guarantee the protection of their clients’ personal data and funds. The only disadvantage of Beaxy is that as of the moment, it still supports a limited number of cryptocurrencies. What’s worth noting is that Beaxy already provides great features despite its newness to the market. Tech and tools provide a glimpse into Beaxy’s high-grade cryptocurrency trading technology.
Those people who are submitting a National ID or driving license, will have to take a picture of both sides of the document. Before uploading the document, you will need to select the country your document was issued in. Yes, Beaxy is currently missing some top tier cryptocurrencies such as Polkadot (DOT), Cardano (ADA), and Stellar (XLM), all of which are top 10 assets. Currently, Beaxy does not compare to Binance, they offer nowhere near the same number of assets, and their volume is not even close.
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These rates are in line with most industry standards, especially as starting rates. These rates may be reduced by increasing your user level, which is accomplished by a combination of maintaining an average daily trading volume and/or (based on the table below) holding a certain quantity of Beaxy Coin (BXY) tokens on the exchange. While Beaxy may not offer quite as many digital assets as Binance, and are missing some top 10 assets, they still offer a good number of cryptocurrencies for buying and trading on their exchange and are still adding more.
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No matter how clueless you are about algorithmic trading, you can use this strategy with the help of Hummingbot. The Match Bonus program gears towards attracting more potential clients to sign up with Beaxy. This program entails each client who deposits $500 minimum an additional monetary fund of the same amount sent to their accounts. Whereas most brokers offer 30% welcome bonus, or 100% for those who deposit $10,000 and above, Beaxy offers 100% for all clients given that their first deposit is at least $500.
All content on CaptainAltcoin is provided solely for informational purposes. It is not an offer to buy or sell any security, product, service or investment. Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies.
“We strongly advise you to withdraw any remaining assets within 30 days to avoid unnecessary complications and delays,” the exchange told its users. Some of it are specifically created by Beaxy to fit the needs and demands of its client base. You can access Beaxy Exchange’s complete list of features with your personal login. In total, Beaxy is selling 60% of the tokens and there is a soft cap of $4.2 million and a hard cap of $ 19 million USD. 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.
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. 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. As Beaxy is still building its reputation and developing its user base, it offers an attractive fee structure and various incentives, which should prove successful in attracting users to the platform and improving the validity of the BXY token. The fees on the Beaxy exchange are fixed at 0.2% of whatever you deposit, however, the BXY token allows users to reduce their fees by up to 50%. There is also an option to earn a portion of trading fees by locking up PLS tokens and onboarding friends onto the platform via the referral program. 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.
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She specializes in developing low latency enterprise applications with extensive experience in Agile methodologies. She also has over 10 years of experience with technologies like Core Java, J2EE, AngularJS, JavaScript, Hibernet, and RESTful Web Services. It has not happened since, and they improved security following the incident.
In its lawsuit, filed Wednesday at the Northern District of Illinois, the securities regulator also accused the platform of failing to register as a broker and a clearing agency. CaptainAltcoin.com does not offer any sort of financial or investment advice. Please make sure to do your own research, make educated financial decisions and consult your Financial Advisor. Security measures are one of the most important factors you should be looking at when choosing an exchange.
However, like everything else, for this to really shine, you need actual trading volume. With over 100 trading pairs, Beaxy will have a maximum capacity of 22.5M tx/s. With all that said, Beaxy does indeed follow top security practices, and offers security features that really bring the user peace of mind because they know that their assets are safe. After your transfers have been confirmed by the network and Beaxy displays your wallet’s funds, you are free to trade on the exchange. To deposit funds on Beaxy, click on the “My wallets” tab at the top right of the screen, and select your preferred currency. After that, click on the + icon next to it, which will expand the list of wallets you have for this currency.
On the left side of the chart, you can see a category of tools and indicators that reach up to nearly a hundred. These indicators and tools are essential in plotting price movements or identifying trends in the market. Beaxy offers commonly-used indicators such as Bollinger Bands, Moving Average, and MACD. Meanwhile, for traders who are always caught up in between things and do not have the time to sit down with their desktops, Beaxy offers a mobile platform that has the same features and functionality as its desktop counterpart. With Beaxy’s mobile platform, you can trade conveniently anytime and anywhere.
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The agency served Coinbase with a Wells Notice and sued Justin Sun for offering BTT and TRX as unregistered securities. According to an official press release, the SEC alleges that Beaxy operated without registering as a national securities exchange, broker, or clearing agency. In the future, the team behind the platform aims to add some very interesting features, such as OTC trading capabilities, margin trading, and portfolio management. They will also be adding advanced order types as options, including choosing between trailing stops, “fill or kill” orders, orders that expire at a certain time and many others which traders with complex strategies will find extremely interesting. In addition to the fee reduction, BXY tokens can be allocated to Beaxy’s STK Loyalty Program.
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So the agency is also accusing them of violating securities law by operating an unregistered exchange, broker and clearing agency, though the platform was described as defunct in another SEC case last year. The platform provided by Beaxy displays real-time data from the market and especially highlights the price movements of Bitcoin and BXY tokens. The price chart can be organized and viewed in different time intervals, to let you get a better grasp about the market’s movement every second, hour, or even days.
Buying and selling cryptocurrencies on Beaxy has never been easier with the new and improved features of this exchange. Aside from fast execution and added assets to trade, Beaxy also improved its security standards. Beaxy Exchange is an up-and-coming fiat-to-crypto exchange that offers a great loyalty program for those who hold their proprietary token Beaxy Coin (BXY). Rewards include up to 12% apy and the potential to earn a piece of the fees beaxy exchange review the exchange makes everyday.
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