What is Beaxy? The Review

Beaxy is an online cryptocurrency and fiat currency exchange aimed at revolutionizing the industry with its cutting-edge systems technology, convenient trading tools, flexible payment options and dependable security – all while still providing its customers with a comfortable and secure trading environment. Beaxy’s proprietary trading platform also features an extremely quick buy-and-sell execution speed.

Beaxy’s website and trading platform is owned and operated by Beaxy Digital Ltd, a tech and financial firm with business licenses from St. Kitts and Nevis in the Caribbean islands in early 2018. It initially began as an Initial Coin Offering under the same name and by September of the same year, managed to gain over $3 million in funding.

From here, Beaxy Digital Ltd moved on to develop its own proprietary trading platform under the same name, establishing itself as an exchange with its innovative and industry-leading design. 

In this article, we will briefly review the core functions, offerings, and key features and services and outline what we thought of the experience trading with Beaxy.

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Platform Features

• Functionality

Beaxy’s trading platform strives to be as convenient and easy-to-understand as possible, utilizing an organic, beginner-friendly, and intuitive User Interface (UI). To add to its conventionality, the platform’s interface is completely customizable, adding to its flexibility on the spot. In addition, includes scrolling ticker settings for speed, visibility, and favorite trading pairs. As a finishing touch, Night and Day modes have been included for around-the-clock trading. Beaxy’s trading platform also has TradingView charts with a full range of technical indicators, and a variety of charting color options for ease of use.

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• Technology

Speed and execution are usually one of the most sought detail for any client and the trading platform spared no expenses to make its buy-and-sell executions as quick and simple. Beaxy’s trading platform makes use of high throughput and low latency database performance capabilities, allowing the platform to handle up to 225,000 transactions per second (TPS) with less than 1ms of latency. It was developed with long-term scaling in mind, featuring revolutionary functions to moderate demand spikes, coupled with automated scaling and resource balancing features. In addition, Beaxy features an automated trading analysis system, data research, surveillance, and back-testing services, which were developed in collaboration with Wall Street-backed OneMarketData, LLC. 

• Security 

The Beaxy team puts high priority in its security protocols, which includes a Two-Factor Authentication (2FA) system for verification for login and is compatible with both Google and Authy Authenticators. The exchange also allows for withdrawal address and IP whitelisting, while also maintaining user data confidentiality. Furthermore, Beaxy’s security standards on the platform are in line with PCI-DSS and ENISA security standards.

• Customer Support

Beaxy also features an online 24/7 customer support with live chat functionality, handled by a dedicated multi-language team and a ticketing system where users can submit support requests. Other support resources feature an FAQ section and Knowledge Base, and an active social media presence. Currently, Beaxy can be contacted via their Telegram group, Discord server, and Twitter account.

Offerings

Beaxy mostly focuses on trading cryptocurrencies, with popular assets. You can buy Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Monero (XMR), Zcash (ZEC), Ripple (XRP), DASH and other cryptocurrencies.

In addition, Beaxy’s listing contains its own Beaxy tokens (BXY), which can be staked for several benefits to boost your trading experience.

Beaxy usually charges a 0.2% fee per trade, however, customers who trade using their BXY tokens can get up to 50% reduction in their trading commissions. Here, the online exchange also features an additional 25% discount on all trading fees with its “Staking Program”, which we will look into on the next segment.

• Beaxy’s Staking Program – Exchange BXY/PLS for Loyalty Rewards

Beaxy currently features two unique tokens which clients can trade for various rewards. One of them is the aforementioned Beaxy (BXY) token which makes the customer trading with them eligible for discounts in trading fees. The other, is its PLS token. These tokens are only available for exchange within Beaxy’s trading platform and can only be exchanged with Beaxy (BXY) tokens on a 1:1 rate. These PLS tokens will be locked by the customer for a certain amount of time. From here, and depending on the time the tokens are locked in the Beaxy Cryptocurrency Exchange, the customer’s account will receive deposit amounting to a percentage of transaction fees that were collected with the PLS tokens.

The following is a table of the rewards as well as how long the PLS tokens must be locked for:

Time (months)Rewards
1 month15%
1-6 months20%
6+ months25%

To keep up to date with information about Beaxy’s current offerings, you may check out Beaxy’s official website https://beaxy.com/.  

Conclusion

All in all, Beaxy Exchange shows promise by holding its own weight in attempting to lead the industry, despite being relatively new to the industry. The Beaxy (BXY) token is one of the more unique features the exchange can offer, drawing in customers with the promise of a 50% discount in fees when done right. With bonus programs and promotions that require locking in an amount of PLS tokens and referring the exchange to friends and family members, clients are able to earn bonuses for their account to enhance their trading profits.

Its trading platform is also one of the most flexible and easy-to-use trading platforms available, making the entire experience much more straightforward and streamlined. 

However, with all its legit advantages the online exchange still has room for improvement. One of the main things most customers would complain about is its rather limited cryptocurrency listing. This can be very noticeable when comparing Beaxy to other leading brands such as Binance and Huobi. 

As of now, Beaxy has recently announced various new features that will be added to their system and it surely will be a lucrative option to give Beaxy a try as soon as possible while its current offers stand.

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