Beaxy Ceases Operations After SEC Takes Legal Action

Please make sure to do your own research, make educated financial decisions and consult your Financial Advisor. 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. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy. 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.

More experienced crypto traders will be impressed by the variety of market orders available on Beaxy, and they include Market, Limit, Post Only, Limit IOC, Limit FOK, Stop Loss, Stop Loss Limit, Take Profit, and Take Profit Limit orders. It’s worth noting that users from the USA are currently not eligible to access the Loyalty Rewards program or obtain the PLS token in any way. Beaxyis operated by Beaxy Digital, Ltd, which is a company registered in St. Kitts & Nevis in the Caribbean Islands.

Beaxy reviews

To pass the KYC check, you need to specify the country of residence, select the type of identity document and attach its photos. The photo of the document must be without glare from the flash, all information must be readable. A driver’s license, national ID card or civilian passport can be used as an identification document. After the application is processed, you will receive a notification by mail when the verification is passed or rejected. The team at CaptainAltcoin.com only recommends products and services that we would use ourselves and that we believe will provide value to our readers. At the top of the interface are various important factors that can help you with your ongoing trades, including statistics like the volume, bid/ask spread and percentage changes.

• We strive to present all the information & pricing as accurately as possible, but we cannot ensure that the data is always up to date.
• Shortly after the Securities Exchange Commission filed a lawsuit against crypto exchange Beaxy, it suspended its services.
• 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.
• Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development.
• In an official statement, the regulator said the founder of the organisation Artak Hamazaspyan raised $8 million through an unregistered crypto token offering, reported Bitcoin.
• It is our aim to help educate the masses with our simple layout and format.

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. To deposit funds on Beaxy, click on the “My wallets” tab at the top right of the screen, and select your preferred currency. After that, click on the + icon next to it, which will expand the list of wallets you have for this currency.

Crypto

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. The team behind the platform, lead by CEOArtak Hamazaspyanand CTO Mittal Patel, has proven very transparent. Beaxy also incorporates its native BXY token, allowing users to participate in staking to receive a 50% discount on trading fees. BXY token itself is an ERC 20 token and gives users of the platform many other benefits, such as loyalty rewards and coin staking.

Please enable JavaScript or switch to a supported browser to continue using twitter.com. CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money. Despite these features, Beaxy has a number of challenges to overcome, for example the Loyalty Reward Program is not available to residents of the US, while fiat transfers still haven’t been enabled.

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. 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 All-in-One Exchange You’ve Been Waiting For

The KYC verification process is conducted via Mati who store encrypted user data in AWS servers in the USA. 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. Beaxy allows you to have multiple wallets for each currency; however, your funds will only be deposited to the wallet set as default, and you can then transfer freely between your internal wallets. After your transfers have been confirmed you are free to trade on the exchange. Technology – The exchange makes use of high throughput and low latency database performance capabilities, and Beaxy is able to handle hundreds of thousands of transactions per second with less than 1ms of latency. The platform is also built for long term scaling, and includes functions to mitigate demand spikes, as well as automated scaling and resource balancing features.

However, users who choose to pay their trading fees in BXY tokens receive a 50% reduction and pay a fee of 0.1%, and anyone participating in the exchange’s Staking Program can reduce their fees by an additional 25%. Market makers are being encouraged to use the exchange and are exempt from trading fee commissions. In order to pay your fees with BXY, click on your profile, and select “Fees”, then move the “Pay with BXY” slider button to the “On” position. 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.

Next, select your digital asset and click on buy to complete your purchase. Predicting price with a 70% success rate Prebuilt technical analysis with timeframes and targets that actually work. Beaxy Exchange is the best place to go if you want to take advantage of the bull market in Crypto Trading. Beaxy, a U.S.-based cryptocurrency trading platform, allows you to trade, buy, and sell popular cryptocurrencies such as bitcoin and ethereum.

Beaxy Features and Options

Members have access to a secure and safe platform thanks to regular security reviews. Fast Redeem,instant buy market/limit/profit&loss, multi-trading types. TIGER Bank investment service, highest profit of 20% with daily interests. In the future, the team behind the platform aims to add some very interesting features, such as OTC trading capabilities, margin trading, and portfolio management.

The Beaxi.com User Agreement is a document regulating the relationship between the user and the administration of the cryptocurrency exchange. 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.

Withdrawal And Transfer Limits

The purpose of locking these tokens up is so you can receive a percentage of your trading fees back. 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 beaxy.com 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. Fiat assets of traders are stored at the crypto exchange partner Prime Trust company.

Beaxy Exchange offers prebuilt TA, signals, for cryptocurrencies listed on their platform. Members of their team have reportedly built trading desks in Chicago, IL. Their API feature 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.

According to beaxy exchange reviewrs’ reviews, the Beaxy support team is really responsive and gives detailed and understandable recommendations. VIP club members receive up to 30% cashback on paid commissions for a month. In addition, you will receive increased referral fees and monthly prizes from the platform. For trading on the platform beaxy.com you need to register, connect two-factor authentication and pass KYC verification, let’s look at each of these steps in more detail. All content on CaptainAltcoin is provided solely for informational purposes.

The exact amount of commission can be seen when withdrawal request is made. Cryptocurrency exchange on the platform is available after registering and making a deposit. The platform offers traders several types of orders to maximize profits during exchange . 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.

One of the best features is the calculator used to calculate the profits and losses of certain trades that you’re thinking about making. 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. 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. However, like everything else, for this to really shine, you need actual trading volume.

The fees on the Beaxy exchange are fixed at 0.2% of whatever you deposit, however, the BXY token allows users to reduce their fees by up to 50%. There is also an option to earn a portion of trading fees by locking up PLS tokens and onboarding friends onto the platform via the referral program. 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. It’s also worth noting that Beaxy operates a loyalty reward program that incorporates the PLUS Token , 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.

The SEC said is litigating its https://traderoom.info/ against Hamazaspyan for securities fraud and against Hamazaspyan and Beaxy Digital for the unregistered BXY offering. According to his LinkedIn profile, Hamazaspyan left Beaxy in September 2019 and is located in Yerevan, Armenia. Other personal expenses were also covered by the nearly $1 million of missing funds, the SEC says. Gurbir S. Grewal, head of SEC’s Division of Enforcement argued that Beaxy exposed investors to serious risks because the company had decided to combine the functions of an exchange, a broker, and a clearing agency.

Finally, according to data from CoinMarketCap, the global crypto market cap stands at $1.18 trillion, a 0.66% increase from March 29 to 30. Meanwhile, the total crypto market volume over the last 24 hours is $48.80 billion, a 0.06% increase. CryptoQuant’s Spent Output Value Bands metric confirms a surge in whale Bitcoin spending. Currently, whales holding 1,000 to 10,000 BTCs have already spent over 220,000 BTCs – a figure that’s only been climbing higher since March.

Beaxy offers several different order types in addition to regular limit and market orders, including Limit IOC, Limit FOK, Take Profit, and more. Meanwhile, as whales continue to spend their output, the number of Bitcoin addresses holding more than 10 BTC has risen sharply. Data from Santiment indicates that the figure has grown substantially since 2022, having jumped a remarkable 7.1%. Although the share of available BTC held by these wallets remains fairly consistent, the total amount is fast approaching its peak recorded in September 2019. We cover weekly key developments in the world of crypto assets and blockchain that have influenced price action and general sentiment.

Separately, the agency said it had reached a settlement with the individuals currently managing Beaxy, Nicholas Murphy and Randolph Bay Abbott. They took over the platform from Hamazaspyan, and operated it — still without registering — through their company Windy Inc., the SEC said in its statement. The agency also alleged that a group of companies operated by Brian Peterson, including Braverock Investments LLC, acted as market makers for the platform, allegedly acting as unregistered dealers. Beaxy is a centralized cryptocurrency exchange established in 2017 and is registered in United States. Currently, there are 0 coins and 0 trading pairs available on the exchange. Beaxy 24h volume is reported to be at $0.00, a change of 0% in the last 24 hours.