Competition continues to heat up in the world of cryptocurrency exchanges. That’s a very good thing, as the demand for the “perfect service” has not diminished in the slightest. More variety in platforms allow for a more versatile ecosystem, which will benefit everyone in the long run. Beaxy is an all-in-one cryptocurrency exchange platform which gives users all the power and control over their finances.
The Ambitious Beaxy Plan
Labeling itself as an all-in-one cryptocurrency trading platform is a tall order to live up to. For the Beaxy team, the desire to revolutionize the world of cryptocurrency trading is a top priority. It’s evident not all trading platforms give users the control over funds they need or deserve. Instead, most companies act as a custodian over customer funds, which can create a lot of issues further down the line. Beaxy wants to shake things up and bring strong competition to the other players in this industry.
Peeking Under the Hood
To make this vision come true, the trading platform has to deliver on its initial promise. The list of core features provided to users goes to show the team is very serious about letting users trade cryptocurrencies on their platform. It has by far one of the most convenient user interfaces in the industry today. This UI allows users to both trade and store dozens of cryptocurrencies, tokens, and assets in a matter of a few clicks. Convenience will allow the company to attract new users, as the community needs to keep growing at all times.
Furthermore, Beaxy supports both the US Dollar and Euro, making this platform more attractive to users around the world. The company also uses multiple wallets per currency, which seems to indicate they will keep the majority of funds in cold storage at all times. This is a common practice in the cryptocurrency trading industry, as leaving funds in a hot wallet will attract the attention of hackers. By actively maintaining different wallets per currency, the company will also ensure a smooth day-to-day operation at all times.
Other features to look forward to are the trading engine and portfolio management tools for advanced users. Novice users will benefit from these portfolio management tools as well, as users need to be able to diversify their holdings accordingly. Professional traders can also choose between 26 different order types to maximize their profits and trading strategies. Giving customers all of the options they might ever need shows Beaxy is here to stay.
Last but not least, users can benefit from the Loyalty Rewards and Referral program provided by Beaxy. Both of these programs are designed to reward existing customers and allow them to invite new users to the platform. Considering how big some of the other cryptocurrency exchanges are these days, the company will need to use every tool at its disposal to compete with the big guys. By actively relying on its community members to do so, the company aims to make a positive impact.
BXY and PLS Token
It’s also worth noting how Beaxy provides access to those special tokens. The BXY token can be used to pay trading fees at a discount, as well as voting on proposals and app store purchases. Users who are interested in the loyalty rewards can swap their BXY tokens for PLS tokens at a 1:1 ratio. In doing so, they will become eligible for a revenue share of up to 25%. A very generous offer from a cryptocurrency exchange, as most companies will not share such a large portion of their revenue with the users.
Solid Growth Across the Board
Despite only launching recently, it would appear the cryptocurrency community has taken a liking to Beaxy already. Over $2 million in trading volume during the first 24 hours confirms there’s an interesting in this new trading platform. The company has also processed thousands of Know-Your-Customer requests, which is a major milestone for such a new project. Keeping the momentum going will prove to be a crucial challenge, as the competition will not sit by idly.