CoinGape Media on Binance Feed: Breaking: U S. SEC Charges Another Leading Crypto Exchange; Platform Forced to Shut Down

agreed to pay
kyc verification process

Cryptocurrency exchange Beaxy – is a platform for exchanging digital assets between users. The exchange offers transparent working conditions, a profitable referral program and the possibility of staking. Platform token holders receive additional privileges and benefits in the form of discounts on trading commissions and platform rewards.

They cannot use a passport for verification due to state-specific laws. Before uploading the document, you will need to select the country your document was issued in. The platform aims to provide traders with a comprehensive service that appeals to both newer traders and more experienced participants. On the date of last updating this review the 24-hour trading volume was as low as USD 1,612 vis-a-vis USD 19,676 on 18 September 2021, according to

beaxy review is an All-in-One exchange that is built for experienced cryptocurrency traders and those completely unfamiliar with blockchain concepts. We aim to be the leading exchange by creating an environment where traders feel comfortable to learn and grow in this exciting, yet extremely volatile environment. The security protocols within Beaxy are very effective and leave your account protected in many ways. Every time you log into your account from a new IP address then you need to confirm the login from your email. There’s also the 2FA code that you must have in order to log into your account to make sure you always have the key to log it into.

  • If I want to sell them for real life money, I have to sell my coins for bitcoin and send bitcoin to kraken to sell them for real money.
  • Customer Support –Beaxy provides 24/7 customer support with live chat functionality.
  • 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.
  • In addition, the SEC says that Beaxy’s market makers for operating as unregistered dealers.

Beaxy also uses email alerts and two factor authentication which is compatible with both Google and Authy Authenticators. In order to further secure user accounts, the exchange also provides the ability to whitelist withdrawal address, which restricts the places funds can be sent to. IP whitelisting is also featured and once set up, when you try to log in to your account for the first time from a new location, access will be denied and a red “IP Whitelist” message will appear. You will be sent an email with a verification link that will allow you to access your account from the new IP address.


We hope for’s sake that this trading volume improves substantially. Otherwise, it will be difficult for Beaxy to attract new trading users to its platform. is a completely independent comparison website covering all things crypto related. It is our aim to help educate the masses with our simple layout and format. We have news, reviews, price charts, how to guides for Trading and Analysis and more. The exchange has a variety of different tools that can help the user execute their trades.

  • It added that the current situation arose despite their best efforts to operate.
  • 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.
  • They also offer helpful 24/7 customer support, high trade processing speeds and high-grade security.
  • There are 2 types of commissions on the platform – trading commission and withdrawal commission.
  • Explore both the ‘Buy’ and ‘Sell’ tabs, if you manage to calculate a trade that you’d like to place then you can click the Autofill button on the calculator to do so.
  • You can submit a request to their customer support team regarding any issue that you have and they should get back to you rather quickly because of their 24/7 customer support.

Beaxy Exchange – a young reliable cryptocurrency exchange with a wide range of instruments and free trading signals. The exchange regularly adds new cryptocurrencies, expanding trading opportunities on favorable terms. The company offers trading in the modern MetaTrader 5 terminal with the possibility of opening fiat accounts. In general, the cryptocurrency exchange can be called a reliable developing platform with high chances of reaching the top of cryptocurrency exchanges. Register on the platform, open a deposit and receive bonuses from the company. The exchange started operating in 2019 and has gained the trust of traders from 200 countries in a short period of time.

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The document defines the basic order of work on the exchange, as well as the rights and obligations of the parties. According to this document, registration on the platform is available to persons over 18 years old. You have the right to create only one account and only for personal use. Beaxy is a young cryptocurrency exchange with bank card and transfer support. The platform offers spot trading, free signals, technical analysis and 24/7 support. The fees on the Beaxy exchange are fixed at 0.2% of whatever you deposit, however, you can use the Beaxy token to take 50% of the fees off your transaction.

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Mati will send a link to this email that can be used to continue the verification process by phone. To start the KYC verification process, click on your name and select KYC in the drop down menu. After clicking on the link provided in the verification email, you will be asked to log into your account. To create an account, click the “Register” button in the upper right corner of the home page. Here you need to specify your email address, password, and cell phone number. After filling in the data, you need to agree with the terms of use, and click “Register”.

Beaxy Trading View

Cryptocurrencies are reportedly secured by Curv institutional custody and fiat accounts are insured up to $250,000. Beaxy Exchange offers prebuilt technical analysis trading signals for cryptocurrencies listed on their platform. Members of their team have reportedly built trading desks in Chicago, IL. Their API features REST and WebSocket as well as FIX, view the documentation here. In order to trade on Beaxy you need to verify all of your details via a KYC check. Once you have been approved by the team, you become a standard user and have a withdrawal limit of up to 30 BTC a day!

requires the staking

Fiat assets of traders are stored at the crypto exchange partner Prime Trust company. Below are a few of the advantages the exchange itself promotes on its website. Among these, security, performance, low trading fees and 24/7 support are the ones we deem most important.

Gensler also alleged that the crypto trading firm and its top executives did not “register as a national securities exchange, broker, and clearing agency.” The SEC has levelled charges of operating the Beaxy Platform as unregistered dealers. The exchange also incorporates the ERC20 BXY Token which allows users to participate in staking in order to receive a 50% discount on trading fees. Discounts on exchange trading fees can be obtained by holding a certain level of daily trading, as well as holding a certain number of BXY coins on your balance. The maximum discount on trading commissions is 25%, which is provided to holders of BXY amounting to 12,000 USD. The platform also supports cryptocurrency trading for fiat – USD, CNY, GBP and EUR. For the convenience of users crypto exchange has launched its own mobile application with the support of a full set of tools for trading.

Beaxy is a new exchange that is aiming to become a leader in the crypto trading space. It incorporates a range of attractive features with more expected to be added over the coming months and years. The exchange also incorporates TradingView charts with a full range of technical indicators, and trading analysis, data research, and back-testing services from OneMarketData.

It added that the current situation arose despite their best efforts to operate. After the actions by the SEC, Beaxy on its website, said, “Regrettably, we are announcing the immediate suspension of services on Beaxy Exchange.” The total supply is 100 million tokens and 60 million of these will be available during the ICO. This is also a way to get a notification like prices changes or updates. You will receive an email with instructions for how to confirm your email address in a few minutes. The SEC has been ramping up enforcement against larger participants in the crypto industry.

One more thing worth noting is that Beaxy is in the final stage of discussions withOptiv, a cybersecurity giant. They are planning to provide penetration, cloud infrastructure, white box, black box, and many more tests to insure Beaxy’s security. 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. The company is registered in St. Kitts & Nevis in the Caribbean Island, but also has offices in Chicago and Illinois.


However, your funds will only be deposited to the wallet set as default, and you can then transfer freely between your internal wallets. Now, select your country of residence and also submit a picture of your National ID, driving license or passport. Those people who are submitting a National ID or driving license, will have to take a picture of both sides of the document. Also, users based in the USA must use a valid driver’s license or state ID.

If they reach their goal you can make use of their platform and even use your tokens for a lower transaction fee. In addition to tracking price, volume and market capitalisation, CoinGecko tracks community growth, open-source code development, major events and on-chain metrics. These data are also third-party sourced it may not be be 100% accurate. We are relying on exchanges to provide transparency on the holdings/liabilities that they have. Beaxy Exchange has raised about $8 million through the sale of BXY token, which the SEC alleges is an unregistered security. As a result, Beaxy could be well worth getting to know early on and users can take advantage of the various incentive programs to make their trading activities more cost effective.

They also offer helpful 24/7 customer support, high trade processing speeds and high-grade security. Quick Trade allows you to trade Bitcoin in Canada, along with many other digital currencies. Quick Trade, developed by Coinsquare Canada, is optimized for faster trades with the lowest spreads and fees, top-tier security and industry-leading customer service…. Cryptocurrency exchange offers bonuses and discounts to both new users and registered traders. After passing the additional check it is possible to deposit in USD, EUR, CNY and GBP.


Withdrawal fee is calculated personally, taking into account the status of the account and the amount to be withdrawn. The exact amount of commission can be seen when withdrawal request is made. 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. When I first was introduced to cryptocurrency I had to make a lot of accounts to be able to trade in a wide range of coins.

Functionality – Beaxy operates as a web-based trading platform, and utilises a simple to use, and intuitive UI. The interface is also customizable and includes scrolling ticker settings for speed, visibility, and favourite pairs. It also incorporates Night and Day modes for around-the-clock trading, TradingView charts with a full range of technical indicators, and a variety of charting colour options.

The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. In addition, Beaxy has a smaller number of supported cryptocurrencies than leading exchanges such as Binance and Huobi. However, the team are planning to roll out a number of additional features that will help to establish the exchange as a viable alternative to current industry leaders. This allows Beaxy to provide solutions for high frequency traders and the platform is designed to scale and is already able to handle 225,000 transactions per second. In the future, the team aim to add OTC trading capabilities, margin trading, and portfolio management features that will appeal to a variety of traders. This acts as an additional layer of protection and can block an attacker who manages to gain access to a user’s log in details but cannot match the IP address of the actual account owner.

This way cryptocurrencies will be adapted be of a bigger group of potential crypto investors. If you want to make use of the Beaxy platform the coins you receive by investing in the Beaxy ico can be used to pay transaction fees, these fees will have a 50% discount rate when using the Beaxy coins. As of Today I use Kraken and I Have to send bitcoin to bittrex to invest in other crypto currencies.


However, if you’re looking to be an active trader on Beaxy then you can stake your BXY tokens to upgrade your account. Turn your account into a Silver Account and withdraw up to 60 BTC per day as well as a 10% discount on trading fees by staking 50,000 BXY. The Beaxy Exchange is an up and coming cryptocurrency exchange that aims to be an all-in-one exchange with a variety of tools catered towards the user to give them a better experience. Benefit from obtaining the ERC20 Beaxy token, you can use these to pay off fees and you can trade them for other tokens. Have a blast with its fast processing speeds, 24/7 customer support, and great trading tools.

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There are various explanations and tips on how to navigate the platform placed in easy to find locations. There are also various market orders available on Beaxy, such as Market, Limit, Post Only, Stop Loss, Stop Loss Limit, Limit IOC, Limit FOK, Take Profit, and Take Profit Limit orders, which will impress more experienced crypto traders. Beaxy utilises a simple to use and intuitive UI, which is customizable and includes scrolling ticker settings for speed, visibility, and favorite pairs. There are both day and night modes available, making the trading panel easy on the eyes and presenting information and execution panels in a clean and easy-to-read manner. TradingView provides the price charts that are located in the center of the interface and provides a full range of technical indicators and various charting color options.

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