Bilaxy exchange review
Bilaxy is a centralized exchange that occupies #140 on Guru InvestingExchange Tracker. Bilaxi’s trading volume is US$345,546,820 in the last 24 hours and US$46,014,980,029 in the last 7 days.
Bilaxi currently has 119 cryptocurrencies, 0 paper currencies and 117 markets (cryptocurrency trading pairs). The most popular trading pair on Bilaxy is BTC/USDT.
Compare Bilaxi next to other exchanges here: Exchange comparison tool.
The Bilaxy cryptocurrency exchange is a digital asset trading platform created in the Republic of Seychelles and launched in early 2018. It serves traders from all over the world and operates in more than 80 countries.
Used on the platform KYC verification process to ensure that all its users are legitimate merchants and are not involved in fraudulent activities. Users must register with their personal information and verify their identity using government-issued identification documents before accessing all platform features.
Markets
The exchange offers a wide selection Bilaxy trading pairs, about 1000 in total. This number consists of 300 USDT steam, 300 ETH couples, 4 BTC steam and 150 BNB couples. In addition, it has a wide range stablecoins for transactions with fiat currency. Users have access to the Bilaxy spot trading option. However, it does not support margin or futures trading.
Bilaxi exchange fee for maker and taker trades it is 0.25%. Additionally, you can get a 50% discount on trading fees if you pay with BIA tokens (Bilaxy’s utility token). The BIA token can be purchased on the Bilaxy exchange, like any other digital currency. When it comes to withdrawals, the price of Bilaxy cryptocurrency depends on the blockchain the user wishes to use. This means that the price paid to withdraw BTC will not be the same as the price paid to withdraw ETH.
The BIA token is the native utility token of the Bilaxy crypto exchange.. The maximum token supply is limited to 2 billion BIA. From time to time, the platform uses the proceeds received from the exchange to buy back some of the tokens and burn them to increase their value. Token holders are given the right to vote in decisions affecting the platform. Moreover, they get the privilege to enjoy and use new apps and features before other users.
Trading on the Bilaxy cryptocurrency exchange Referral program it’s an easy way for users to earn rewards from other people’s transactions. Depending on the number of BIA tokens you own, you will be given three different levels of rewards.
About company
Bilaxy cryptocurrency exchange was founded in 2018 and is headquartered in Hong Kong, China. There is little information about the founders and team of the project on the Internet. However, it is claimed that the team consists of experienced professionals in the field of finance, cryptocurrencies and blockchain.
On August 28, 2021, an accident occurred on the Bilaxy crypto exchange. Security breach after a hacker discovered a vulnerability in the external part of his system. During the hack, the hacker stole up to $21 million from the platform using more than 300 different assets. The platform was closed for a while to move some assets into cold storage. Following this unfortunate incident, normal service to the platform resumed.
Bilaxy’s trading volume in February 2023 was approximately $30.5 million. However, take a look above to see Bilaxy’s current volume.
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A cryptocurrency exchange is an online platform where you can buy, sell, or trade cryptocurrencies like Bitcoin, Ethereum, and others.
Safety varies by exchange. Look for platforms with strong security measures, like two-factor authentication and cold storage for funds.
Consider factors like security, fees, available coins, user interface, and customer support.
Centralized exchanges are managed by a company, while decentralized exchanges operate without a central authority.
Many exchanges require Know Your Customer (KYC) verification for security and regulatory compliance.
Trading fees vary but typically include maker fees (for adding liquidity) and taker fees (for removing liquidity).
Yes, most exchanges offer cryptocurrency-to-cryptocurrency trading pairs.
Withdrawal times depend on the exchange and the cryptocurrency. Some are instant, while others may take hours or even days.
A wallet address is like a bank account number for cryptocurrencies. It’s required to send your crypto to the right place.
Yes, depending on your country’s tax laws, trading cryptocurrencies may have tax consequences. Consult a tax professional for guidance.
Yes, many cryptocurrency exchanges operate 24/7, allowing you to trade at any time.
A market order buys or sells at the current market price, while a limit order sets a specific price at which you want to buy or sell.
Yes, each exchange sets its own minimum and maximum trading limits, which can vary widely.
It’s not recommended. For security, it’s better to use a cryptocurrency wallet, especially for significant holdings.
Exchanges typically have account recovery processes, including password reset options and support for forgotten usernames.
Some exchanges offer insurance, but coverage can be limited. It’s essential to check an exchange’s insurance policy.
Use strong passwords, enable two-factor authentication, and be cautious of phishing scams and suspicious emails.
Yes, but it’s recommended to learn the basics of trading and understand the risks involved before you start.
Stablecoins are cryptocurrencies pegged to the value of a fiat currency like the US dollar. They provide stability and are commonly used for trading and transferring funds on exchanges.
Yes, regulations vary by country. Many countries have implemented or are considering regulations to govern cryptocurrency exchanges for consumer protection and financial stability.
