They are attempting to become as popular as Binance with their Beaxy Token trying to capture some of the same attention as Binance Coin (BNB) has. You can buy Bitcoin SV on Beaxy along with quite a few other cryptocurrencies. By virtue of this, the regulator noted that Peterson and his companies acted as unregistered dealers. Customers of the exchange will be able to withdraw their assets within 24 hours after all user orders are canceled and balances are verified and are encouraged to do so within 30 days, the SEC said. Beaxy’s customer support also includes a massive Help Center where you can find tens of valuable articles explaining how exactly to use the exchange.
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.
First, sign up for an account on Beaxy’s official website by filling out your personal information. Once your registration completes the verification process, you now have an account and can trade with Beaxy. Deposit the funds needed to your account so you can begin buying and selling cryptocurrencies. The next step is to log into your Beaxy account and pass the identity verification process.
- The exchange uses two-factor authentication (2FA) and is compatible with both Google and Authy Authenticators.
- 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.
- 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.
- Get the latest crypto news, insights and market analysis straight to your inbox.
Beaxy Exchange is safe, though it has had an issue in the past where their system was exploited and resulted in the loss of 44 Bitcoins and 111,000 Ripple. Users are encouraged to enable Two Factor Authentication (2FA) and they make a point to point out phishing scams to avoid. Justin Sun has carved a name for himself as a leading figure in the blockchain sector. Gary Gensler is an American government official and former investment banker who President Joseph Biden nominated to chair the U.S. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power. 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.
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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 team at CryptoVantage.com only recommends products and services that we would use ourselves and that we believe will provide value to our readers.
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. The platform is set out in a way that makes it easy for new users to get acquainted. The exchange also features the most advanced interface, data compilation, trading tools, and security measures to date. 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. 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).
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However, if you can’t find an answer then just head straight over to their support ticket form or live chat and they will give you an instant answer. 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. After accepting the Terms and Conditions and clicking “Sign Up”, you will automatically receive a confirmation email with a verification link. They also offer a mobile app for iOS and Android for those interested in trading on the go.
How to Buy and Sell Crypto on Beaxy Exchange
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.
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.
Further Reading
It is responsible for the exchange’s fast order executions and high profits. Beaxy’s true partnership feature points to the overall support that the exchange lends to its clients, including free research and educational resources and a 24/5 support team. Beaxy also beaxy exchange review has a community of traders that share trading tips and expert opinions on various financial markets. The finance ecosystem refers to the financial support and assistance provided by the exchange, where clients are given the opportunity to secure their crypto on the website’s domain. 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. 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.
This means that no other crypto exchange will have access to this technology. In the past few months, a number of crypto firms have been hit with civil lawsuits, as U.S. regulators crack down on the budding industry. Most notably, cryptocurrency giant FTX collapsed last year and its founder Sam Bankman-Fried was charged with fraud. On March 23, the SEC also warned against investing in crypto assets securities.
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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. The integrated price charts are placed in the center of your browser, and at the top of the screen, there is a quick summary of important information such as the bid/ask spread, percentage change and volume updated in real-time. The order panel and trade history are placed on the left, while the right is reserved for the order book. You can find additional trading pairs at a handy drop-down menu, including a search bar for ease-of-access.
- These indicators and tools are essential in plotting price movements or identifying trends in the market.
- First, sign up for an account on Beaxy’s official website by filling out your personal information.
- According to an official press release, the SEC alleges that Beaxy operated without registering as a national securities exchange, broker, or clearing agency.
- Beaxy utilises a simple to use and intuitive UI, which is customizable and includes scrolling ticker settings for speed, visibility, and favorite pairs.
- Customers of the exchange will be able to withdraw their assets within 24 hours after all user orders are canceled and balances are verified and are encouraged to do so within 30 days, the SEC said.
Tokens
We advocate for you to do your own research and make educated financial decisions. 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. He has a keen and vested interest in cryptos involving decentralized backend exchanges, payment processing, and power-sharing. No, Beaxy is not similar to a traditional finance broker, they offer no financial services such as lending. Users must already have assets to bring to the exchange in order to make use of it.
One more thing worth noting is that Beaxy is in the final stage of discussions with Optiv, a cybersecurity giant. They are planning to provide penetration, cloud infrastructure, white box, black box, and many more tests to insure Beaxy’s security. The wallet columns include the Wallet Name, Available Balance, Reserved Balance, Locked Balance, Pending and Total Balance and the Is Default feature. The first time you deposit into a wallet, you will have to generate the wallet first. Now, select your country of residence and also submit a picture of your National ID, driving license or passport.