US based exchange, up to $500 bonus, low liquidity
Beaxy is a U.S. crypto exchange with industry-leading security, low fees and more major fiat pairs.
The Chicago-based team maintains a regulated platform and is partnered with Curv, an advanced custody solution to protect the digital assets held on the exchange.
Why Choose Beaxy
Although Beaxy is a less well-known exchange, it offers a good balance of platform functionality, low-fees, regulatory compliance, and useful customer service.
The Trender feature on the mobile app is a particularly valuable tool for new traders. There aren’t many tools that new traders can use to shorten the learning curve for technical analysis. Trender automatically adds sophisticated TA to your chart. When you check these signals consistently you start to pick up on how price reacts much faster. The Signals can be accessed more robustly on the web platform. You’ll be able to find a Signal on most of the assets at any given time which is really helpful. The data provided by Auto-Chartist, the company that provides the Signals, shows a win-rate around 70% when backtested on cryptocurrencies.
One of Beaxy’s best offers for high-volume traders is the $500 deposit bonus. They basically give you an advanced rebate on your trading fees and let you trade with it. Say you normally trade $300,000 / month. You would get an additional $500 to trade with when you deposit $500 or more and you get to keep the extra $500 as soon as you’ve generated $750 in trading fees. This is a no-brainer for anyone who plans on trading a lot. They’re cutting the trading fees by 66% and giving you the opportunity to put that into the market.
Beaxy also has a competitive referral program. Most exchanges cap referral rewards around 20% or only allow you to make money on referrals for a few months. Beaxy’s referral program pays out 30% of the trading fees from accounts you refer and there’s no time limit. You would continue receiving a referral payout forever.
How to register an account at Beaxy
Visit Beaxy.com and click on “Register”, you will be prompted to enter your email address. Next, you will be taken to a screen to complete the registration by filling in a password for the account, adding a phone number, and agreeing with the terms and conditions.
After clicking “sign up”, you’ll be taken to the trading platform and asked to verify your identity. This can be done by clicking on your email address and selecting KYC from the dropdown menu. From there, you can submit photos of a driver’s license or passport. The verification process only takes a few minutes once you’ve submitted your identity document.
How to make a deposit on Beaxy
While on the trading platform, click the blue “Deposit” button to choose the type of deposit you want to make. You can make a deposit with crypto, fiat, or by making a purchase with a credit or debit card. Also, you can click on your email address and selecting the “Deposit crypto”, “Buy crypto”, or “Deposit Fiat” tabs.
Depositing crypto is the fastest and cheapest method on Beaxy. You can deposit USD via wire transfer which clears in 24-48 hours. The credit and debit card options do process quickly but can carry fees in the neighborhood of 4%.
How to trade on Beaxy
To make a trade on Beaxy, log in at exchange.beaxy.com and find the list of available assets. The order form is located on the right side of the same screen. There are 8 order types to choose from (OUO, market, limit, post only, immediate or cancel, fill or kill, stop limit, and stop market).
First select the order type you want to use for the asset you’re trading. For market orders, enter the amount of the asset you want to buy or sell. For limit orders, include the specific price that you want your order to trigger at. After you enter the details for your order, click the circular buy or sell button to complete the process.
Beaxy Trading Fees
Beaxy’s fees range from 0.01% – 0.15% for maker orders and .08% – .25% for taker. Trading fees on Beaxy are reduced based on how much volume you generate or the amount of BXY tokens you hold. Regardless of volume, fees a cut by 5% when you pay them with the BXY token. The trading fees are consistent across crypto to crypto and fiat to crypto trading pairs
Overview of supported coins
Beaxy supports deposits, withdrawals, and trading for 27 cryptocurrencies across 35 trading pairs.
- Bitcoin (BTC)
- BXY (BXY)
- Ethereum (ETH)
- Tether (USDT)
- USD Coin (USDC)
- Aleph (ALEPH)
- Aion (AION)
- Basic Attention Token (BAT)
- Bitcoin Cash (BCH)
- BitcoinSV (BSV)
- Beam (BEAM)
- Dash (DASH)
- Dragonchain (DRGN)
- EOS (EOS)
- Ethereum Classic (ETC)
- GoChain (GO)
- Gunthy (GUNTHY)
- Hive (HIVE)
- Icon (ICX)
- ChainLink (LINK)
- Litecoin (LTC)
- Neo (NEO)
- Waves (WAVES)
- Monero (XMR)
- Stakenet (XSN)
- Zcash (ZEC)
- 0x (ZRX)
Beaxy maintains security through its partnership with Curv, a cloud-based custody solution that provides institutional-grade protection on the exchange’s cryptocurrency deposits. Funds held on Beaxy are protected by Curv’s unique decentralized security model of multi-party computing.
Curv eliminates the need for private keys replacing them with multi-party computation (MPC) protocols that enable transactions to be securely signed in a distributed manner that eliminates any single point of failure.
Additionally, six major fiat currencies are supported on Beaxy and backed by FDIC insurance that is provided through Prime Trust – Beaxy’s US Trust partner. FDIC insurance covers fiat currency holdings up to $250,000 per account.
Beaxy Mobile App
The Beaxy Exchange mobile application is available on the iOS and Android app stores. The app lets you buy, sell, or trade dozens of cryptocurrency and fiat trading pairs with relative ease. The design is easy to navigate and contains all of the web platform’s capabilities. It even has some cool extras like Trender which gives you AI-generated technical analysis with price targets and time frames.
Wrapping it up
Overall, Beaxy makes a compelling offer by focusing on regulatory compliance, platform security, and customer service. A lot of traders are put off by how hard it is to get a hold of crypto exchange’s support and the Beaxy team is very accessible. The primary drawback for Beaxy is volume and liquidity. Both are relatively low compared to other U.S. exchanges but the liquidity provided is sufficient for most to trade.