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. 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.
It might be dangerous to gamify trading, but it could be worth looking into if you’re a novice trader looking for some ideas and direction. That said, blindly following trading signals and mindlessly swiping left and right on trades would be unwise, regardless of the proclaimed win rate. However, the service could be a valuable learning resource for anyone new to trading. As for the Hummingbot and Beaxy Black, the friction of actually implementing the bot or applying for Beaxy Black will make both largely unappealing to most traders. The last feature of Beaxy’s platform worth mentioning is its signal service that uses pre-built technical analysis to offer actionable trading signals with an acclaimed 63% win rate.
Naturally, referral programs and options to customize the trading experience are also positive. 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. There are various explanations and tips on how to navigate the platform placed in easy to find locations.
One of the world’s most trusted and secure crypto exchanges with low fees and advanced trading tools. This left previous users of the platform searching for a viable alternative. 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. Cryptocurrencies are reportedly secured by Curv institutional custody and fiat accounts are insured up to $250,000.
Security measures are one of the most important factors you should be looking at when choosing an exchange. The Beaxy team place security at the forefront of their priorities and the security protocols within the exchange are extremely effective and leave your account protected in many ways. The exchange uses two-factor authentication (2FA) and is compatible with both Google and Authy Authenticators. The project held an Initial Coin Offering (ICO) which ran until September 2018 with an excellent amount raised equaling $3 million.
Beaxy was a fiat-to-crypto exchange with an innovative loyalty program that provided users with multiple ways to earn rewards. However, the platform was shut down in 2023, leaving thousands of users without a crypto trading platform. Austin DeNoce is a writer, personal investor, and entrepreneur who is focused on trading and investing education for macro, crypto, equities, derivatives, and foreign exchange traders. He graduated from the University of California, Santa Barbara with a bachelor’s in philosophy and carries a deep passion for a first-principles approach to investing and education therein.
Fortunately, alternative exchanges like Kraken provide better benefits for crypto traders. If you want to trade crypto in 2025 and beyond, then it’s a solid option. Several safe crypto exchanges offer secure trading, rewarding programs, and advanced tools for every level of trader.
Some of the rewards include up to 30% back in trading fees (in BTC), offers personal customer support, and awards BXY token (Beaxy’s utility token) according to your trading volume. 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. The trading fees for Beaxy are also relatively low, with a maker fee of 0.1425% and a taker fee of 0.2375%. The Beaxy cryptocurrency exchange supports over 40 trading pairs but only about half as many individual assets. 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. To find a reliable exchange where you can start an account, just use our Exchange Filters and we’ll help you find the right platform for you.
With Beaxy Black, you’ll also get rewards for referring friends. For each person you refer to the program, you’ll receive extra percentage points for any transaction fees collected throughout their trading. Beaxy Balck is a VIP program for Beaxy users that offers various financial rewards.
Our recommendation for the best Beaxy alternative is the Kraken crypto exchange. The exchange, which launched in 2019, was a fiat-to-crypto trading platform aimed at blending traditional finance with digital assets. Its native coin (BXY) and related loyalty program, which offered up to 12% APY, were its most notable features. Oftentimes, traders that are successful are traders that learned how to remove as much bias, fear, and greed as possible from their mentality.
Beaxy gives you access to globally sourced liquidity that results in competitive entry and exit levels when you trade BTC-USD. Increase your profit margin by spending less on fees when you trade fiat for crypto. 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, and AI. Our team of experienced writers and analysts are passionate about their work and committed to delivering high-quality content to our readers. This fee is line with the historical global industry average, which was arguably around 0.25%.
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. This is not to say either service is terrible, but they certainly aren’t good compared to other bot trading platforms or cryptocurrency exchange VIP/reward systems.
It can be contacted across their different channels, including their Telegram group, Discord server, and Twitter account. The team behind the platform, lead by CEO Artak Hamazaspyan and CTO Mittal Patel, has proven very transparent. Beaxy also incorporates its native BXY token, allowing users to participate in staking to receive a 50% discount on trading fees. BXY token itself is an ERC 20 token and gives users of the platform many other benefits, such as loyalty rewards and coin staking.
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. 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. There are also further resources aimed at newer traders such as the FAQ section and Knowledge Base, and the team is active on social media.
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. The KYC process is very straightforward and much easier to follow and comply with than the KYC-procedures at other major crypto exchanges. To start the KYC verification process, click on your “user” tab on the top right of the page and look for the “KYC” button. 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.
Austin specializes in topics related to cryptocurrencies and blockchain technology. 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. Although the Beaxy exchange itself doesn’t technically have a trading bot, it has linked up with Hummingbot, which allows users to incorporate its open-source trading bot into the platform via an API. On the date of last updating this review the 24-hour trading volume was as low as USD 1,612 vis-a-vis USD 19,676 on 18 September 2021, according to Coinmarketcap.com. We hope for Beaxy’s sake that this trading volume improves substantially. Otherwise, it will be difficult for Beaxy to attract new trading users to its platform.
Unregulated entities can potentially abscond with your money without being held accountable. We use dedicated people and clever technology to safeguard our platform. 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. If you’re thinking about trading crypto, you’ll need a crypto https://traderoom.info/beaxy-cryptocurrency-exchange-review/ wallet to keep your digital assets safe.
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