Windy and its current managers agreed to pay $79,200 in civil penalties but did not admit to or deny the SEC’s allegations, the agency said, but the SEC is still litigating securities fraud charges filed against Hamazaspyan. Hamazaspyan also allegedly misappropriated at least $900,000 for personal use, including gambling, the SEC said. The SEC alleges Beaxy founder Artak Hamazaspyan illegally raised $8 million in an unregistered offering of its Beaxy token.
How to Exchange BXY/PLS and Earn Loyalty Rewards
Another great thing about Beaxy is the fact that they support 6 major fiat currencies for both deposit and withdrawal. This is a huge relief for many traders as many are forced to use other platforms just to get their coins converted in and out of the blockchain. Beaxy solves this and makes it very easy for traders who are looking to cash out their cryptocurrency gains on the same platform.
Key Features
This way, you can specify the amount of the assets you stand to purchase, as well as the desired price per. As soon as the Bitcoin reaches that value, your transaction shall be executed. Your choice of a wallet for you cryptocurrency should be based on the desired level of security and comfort when handling funds, as well as the need to recover funds in case of physical media loss. Exchange wallets are chosen for storing cryptocurrency by millions of traders and investors; the reason is that such wallets allow one to recover funds even if the physical media holding them is lost. Bitcoin are different in that information on their numbers and transfers is not stored at a certain bank or payment system, but spread across many computers. One cannot forge any data on the bitcoin blockchain or transfer, as changing the data recorded in the registry’s blocks is impossible.
Beginners Guide to Beaxy Exchange: Complete Review
It’s also worth noting that Beaxy operates a loyalty reward program that incorporates the PLUS Token (PLS), an exclusive token to the Beaxy exchange. 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. We can help you to create a springboard for building your crypto portfolio and guide you to a comprehensive understanding of the processes connected with trading on a cryptocurrency exchange. Beaxy was constructed by a team comprising primarily finance experts using finely tuned algorithms and other assets to analyze current dynamics in the crypto world. Using cutting-edge trading tools, our team enables you to find the best way to manage your cryptocurrency exchange accounts.
By now, more than 23 million people own cryptocurrency, and that number keeps growing. Over the past five years, the value of Bitcoin has increased a whopping 75-fold. Long-term investment is less risky, but also less profitable — in theory. It is suitable only for those who can afford to simply put money into crypto and forget about it for a couple of years. This way, you’ll be able to earn not only when its value rises, but also when it falls.
Users must already have assets to bring to the exchange in order to make use of it. Yes, this exchange allows US citizens to buy, sell, and trade both bitcoin and other cryptocurrencies. However, some states are still not allowed to access the platform.
- Click on a strategy and the technical analysis produced by the artificial intelligence will automatically display on your chart.
- It provides quick access to funds, is usable on multiple platforms, and offers some degree of security.
- As they grow, I expect their liquidity to improve but it is tradable now.
- After generating an address, you’ll see the standard QR code and alphanumeric string and either can be used to transfer funds from an existing wallet.
- Online crypto trading is taking the financial world by storm, which is why Beaxy has incorporated trading bots like Gunbot and Hummingbot into its spot-priced cryptocurrency ecosystem.
If you lose this physical media, your funds will most likely be gone irretrievably. 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. These rates are in line with most industry standards, especially as starting rates. 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. However, if you decide to transfer digital assets, the amount can be even smaller.
Once you click on an asset with a live Signal, the chart for that asset will appear along with a blue box that shows every strategy available for the asset. Click on a strategy and the beaxy review technical analysis produced by the artificial intelligence will automatically display on your chart. Select the currency you wish to pay with and the amount you’d like to spend.
In the following example, if a user locks up 100K BXY tokens for 6 months, they will receive 100K PLS tokens. If there are also 10 million BXY tokens locked up in various accounts on Beaxy, there will be 10 million PLS tokens in circulation. 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.
Trading Browser is a global crypto guide for all traders and investors and our focus is always to deliver high-quality content for you, our readers. Some of our platform recommendations might be our partners and we may earn money through our links on our website but this does not change our opinions as all our recommendations are our own. Our editorial team has hands-on experience in investing, trading, and analyzing the crypto market and through our detailed review page you will get a full picture of what we think about different exchanges and brokers.
It is well suited for both beginners and experienced traders as the platform is well made and there is not much clutter to be confused by. Traders who enjoy good custody of tokens, algorithmic trading, crypto welcome bonuses, AI technology, and crypto trading signals will definitely enjoy Beaxy. Launch was a disaster, and in the years since, they have failed to provide tradeable books across most of their listed assets. Additionally their market makers routinely pull their orders from the already thin books, so using stop orders is asking to get your position sold off far below market price.
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. It can be contacted across their different channels, including their Telegram group, Discord server, and Twitter account. Download the https://forexarena.net/ Exchange mobile application for iOS and Android devices for cryptocurrency trading on-the-go. With the Beaxy mobile application, you get access to Signals through Trender, the swipe-based trading application that is similar to popular dating applications. When you see a suggested trade you want to take, swipe right to submit your market order and open the position that is recommend based on aggregated market data.
