Jesse is a graduate of Western Washington University, where he studied journalism and history. At the top of the interface are various important factors that can help you with your ongoing trades, including statistics like the volume, bid/ask spread and percentage changes. One of the best features is the calculator used to calculate the profits and losses of certain trades that you’re thinking about making. This technology can support hundreds of thousands of trades per second with less than a millisecond of latency, which is very fast when compared to other exchanges.
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. This includes their native token Beaxy Coin (BXY), which we will look at in the fees section. 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 the exchange makes everyday.
He has a keen and vested interest in cryptos involving decentralized backend exchanges, payment processing, and power-sharing. 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. The team members have assisted multiple conferences and are actively engaging with their users on social media.
- Either of these two features can be used to transfer funds from an existing wallet.
- She specializes in developing low latency enterprise applications with extensive experience in Agile methodologies.
- Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development.
- Most notably, cryptocurrency giant FTX collapsed last year and its founder Sam Bankman-Fried was charged with fraud.
- Overall, the security of the exchange is fairly good, though there is no indication about hot and cold storage of assets, they have a partnership with Curv, a cloud-based digital asset security platform which provides comprehensive protection on the custody of digital assets.
- The order panel and trade history are placed on the left, while the right is reserved for the order book.
- Beaxy offers a competitive fee structure that is in line with most of the crypto market.
According to the complaint, Beaxy carried out the functions one might expect a national securities exchange, a broker and a clearing agency all would carry out despite not registering as any of these with the regulator. Among its allegations, the SEC said Beaxy operated as an unregistered exchange, a broker and a clearing agency. I strongly suspect – and I’m guessing I’m not the only one – that this may be a preview of how the SEC’s case against other crypto exchanges (cough) may go.
OPX Live: Launching a Unified Platform for the Creator Economy 2.0
Securities and Exchange Commission charged the company and its founder, Artak Hamazaspyan. With operating an unregistered exchange and brokerage, the agency said Wednesday in a statement. 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.
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. It can be contacted across their different channels, including their Telegram group, Discord server, and Twitter account. Beaxy has a tiered fee structure that starts at a 0.25% fixed fee per trade on market takers, meaning you take an already existing order off the book, and a 0.15% maker fee, meaning you put on order on the book.
Blockchain, Crypto & Web3
Once you completed the above steps, you will have to wait until you receive a notification that your documents have been approved, which might take up to a couple of hours. Finally, after you upload your document you will have to take a short video of yourself to show that you are indeed the person on the identity document you submitted. In the video you will be asked to make two circles with your head, with each rotation lasting about three seconds long. After accepting the Terms and Conditions and clicking “Sign Up”, you will automatically receive a confirmation email with a verification link. You can buy Bitcoin SV on Beaxy along with quite a few other cryptocurrencies. They also offer a mobile app for iOS and Android for those interested in trading on the go.
Crypto Exchange Shuts Down Amid SEC Charges
In addition to the fee reduction, BXY tokens can be allocated to Beaxy’s STK Loyalty Program. In the STK Loyalty Program, users can stake/lock their BXY for a period of one to twelve months, whichever length they choose is the interest amount they receive (ie one month gives you 1% apy, 12 months gives you 12%). They are also planning on launching a Diamond tier where those who stake https://traderoom.info/beaxy-cryptocurrency-exchange-review/ over 1 million BXY tokens will receive a prorated distribution of 7% of the exchange’s average daily revenue.
Guidehouse can assist crypto providers in the pre-registration phase to obtain an MSB license from FinCEN and/or individual state licenses, including the New York State Department of Financial Services BitLicense. If there are changes to U.S. regulations requiring crypto exchanges to register with the SEC, Guidehouse is positioned to assist crypto providers to meet these new requirements. 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.
- Securities and Exchange Commission (SEC) charged the online crypto asset trading platform, Beaxy Exchange, and its executives, with failing to register as a national securities exchange, broker, and clearing agency1.
- If you are able to afford to hold a half million BXY then you have no trading fees to worry about.
- This technology can support hundreds of thousands of trades per second with less than a millisecond of latency, which is very fast when compared to other exchanges.
- The team at CryptoVantage.com only recommends products and services that we would use ourselves and that we believe will provide value to our readers.
- 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.
- Beaxy is a new exchange that looks to be one of the most promising up-and-coming exchanges on the market, bringing many new features and a high-performance trading engine to market with a smooth user interface.
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. They follow all KYC/AML policies and use Curv as the custodian for users’ funds and wallets. “The Beaxy Platform also had the ability to trade crypto asset securities against its own customers, which gives it the means and the motive to put itself on the winning side of each trade, without regard to obligations that apply to registered broker-dealers,” the filing said. Guidehouse is a global consultancy providing advisory, digital, and managed services to the commercial and public sectors. Purpose-built to serve the national security, financial services, healthcare, energy, and infrastructure industries, the firm collaborates with leaders to outwit complexity and achieve transformational changes that meaningfully shape the future.
Launched in June 2019, Beaxy is a new cryptocurrency exchange that aims to get ahead of its competition by offering unmatched security, performance, and superior tech. Referral programs, low trading fees, 24/7 support and options to customize the trading experience are also positive. Beaxy offers a competitive fee structure that is in line with most of the crypto market. As with other exchanges the fees get lower the more volume you trade and the more of their proprietary token you hold. If you are able to afford to hold a half million BXY then you have no trading fees to worry about. The team behind the platform, lead by CEO Artak Hamazaspyan and CTO Mittal Patel, has proven very transparent.
