Also facing charges is Brian Peterson and his companies, the Braverock entities, for acting as unregistered dealers due to the marketing services they provided to Beaxy. CaptainAltcoin.com does not offer any sort of financial or investment advice. 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. 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. 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. One of the best features is the calculator used to calculate the profits and losses of certain trades that you’re thinking about making.

Additionally, the agency noted that Hamazaspyan had misappropriated over $900,000 of these funds for personal use, including gambling. Beaxy aims to become a leader in the crypto trading space and is best suited to people with a good understanding of trading digital assets and using exchanges. As Beaxy is still building its reputation and developing its user base, it offers an attractive fee structure and various incentives, which should prove successful in attracting users to the platform and improving the validity of the BXY token. The U.S. Securities and Exchange Commission (SEC) has charged crypto trading platform Beaxy and its executives — including the founder Artak Hamazaspyan — for failing to register as a national securities exchange. It’s also worth noting that Beaxy operates a loyalty reward program that incorporates the PLUS Token (PLS), 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.

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After your transfers have been confirmed by the network and Beaxy displays your wallet’s funds, you are free to trade on the exchange. 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. “Unfortunately, despite our best efforts, it has become clear that the regulatory environment is just too uncertain to continue operations,” Beaxy stated.

It is not an offer to buy or sell any security, product, service or investment. 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. With over 100 trading pairs, Beaxy will have a maximum capacity of 22.5M tx/s. With all that said, Beaxy does indeed follow top security practices, and offers security features that really bring the user peace of mind because they know that their assets are safe.

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• By virtue of this, the regulator noted that Peterson and his companies acted as unregistered dealers.
• The regulator also alleges that the exchange’s founder, Artak Hamazaspyan, used $900,000 for personal use, including gambling.
• Additionally, the agency noted that Hamazaspyan had misappropriated over $900,000 of these funds for personal use, including gambling.
• Of course setting up an account for buying and trading cryptocurrency will take a little bit longer because Beaxy requires users provide some amount of personal identification to avoid money laundering.
• The SEC added that the exchange’s founder misappropriated over $900,000 that was used for things like gambling.

Either of these two features can be used to transfer funds from an existing wallet. However, your funds will only be deposited to the wallet set as default, and you can then transfer freely between your internal wallets. She specializes in developing low latency enterprise applications with extensive experience in Agile methodologies. She also has over 10 years of experience with technologies like Core Java, J2EE, AngularJS, JavaScript, Hibernet, and RESTful Web Services. The platform aims to provide traders with a comprehensive service that appeals to both newer traders and more experienced participants. Beaxy said the regulatory environment was too uncertain for it to continue operations despite its two-year corporation with the SEC.

• The exchange ceased itsoperations in the wake of a lawsuit from the United States Securities andExchange (SEC) which charged the platform and its executives for operating anunregistered exchange, brokerage andclearing agency.
• They will also be adding advanced order types as options, including choosing between trailing stops, “fill or kill” orders, orders that expire at a certain time and many others which traders with complex strategies will find extremely interesting.
• To find a reliable exchange where you can start an account, just use our Exchange Filters and we’ll help you find the right platform for you.
• The agency served Coinbase with a Wells Notice and sued Justin Sun for offering BTT and TRX as unregistered securities.

Yes, Beaxy is currently missing some top tier cryptocurrencies such as Polkadot Beaxy (DOT), Cardano (ADA), and Stellar (XLM), all of which are top 10 assets. Currently, Beaxy does not compare to Binance, they offer nowhere near the same number of assets, and their volume is not even close. They are attempting to become as popular as Binance with their Beaxy Token trying to capture some of the same attention as Binance Coin (BNB) has.

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It can be contacted across their different channels, including their Telegram group, Discord server, and Twitter account. The next step is to log into your Beaxy account and pass the identity verification process. Once the team has approved you, you become a standard user and can withdraw up to 30 BTC worth of cryptos per day from any combination of their wallets. The KYC process is very straightforward and much easier to follow and comply with than the KYC-procedures at other major crypto exchanges. To start the KYC verification process, click on your “user” tab on the top right of the page and look for the “KYC” button. The project held an Initial Coin Offering (ICO) which ran until September 2018 with an excellent amount raised equaling $3 million.

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. The exchange makes use of high throughput and low latency database performance capabilities, and the Beaxy Exchange platform is built in-house utilizing the same technologies used by Bloomberg and Scottrade for high throughput, low latency database performance.

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Security measures are one of the most important factors you should be looking at when choosing an exchange. The Beaxy team place security at the forefront of their priorities and the security protocols within the exchange are extremely effective and leave your account protected in many ways. The exchange uses two-factor authentication (2FA) and is compatible with both Google and Authy Authenticators. It’s also important to note that Beaxy will have an exclusive partnership with OneTick, its flagship software, a comprehensive suite for time-series data management, real-time event processing, and analytics.

Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision. “Trading on the platform hasbeen halted effective immediately to simplify the withdrawal and reconciliationprocess.

The exchange team contains CEO Artak Hamazaspyan, CTO Mittal Patel, COO John Galvagno, and Director of Engineering Federico Almaraz. CryptoSlate is a comprehensive and contextualized source for crypto news, insights, and data. The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against the Beaxy exchange, shutting down its operations. I agree to receive newsletters from CryptoVantage and accept the data privacy statement.

They are planning to provide penetration, cloud infrastructure, white box, black box, and many more tests to insure Beaxy’s security. Beaxy’s customer support also includes a massive Help Center where you can find tens of valuable articles explaining how exactly to use the exchange. Users are encouraged to first check their Help Center if a question arises. However, if you can’t find an answer then just head straight over to their support ticket form or live chat and they will give you an instant answer.

This means that no other crypto exchange will have access to this technology. Guidehouse is a global AI-led professional services firm delivering advisory, technology, and managed services to the commercial and government sectors. With an integrated business technology approach, Guidehouse drives efficiency and resilience in the healthcare, financial services, energy, infrastructure, and national security markets. As the first media outlet to report on blockchain-powered applications, we provide early adopters, developers, and visionary leaders with access to emerging technological landscapes, including wallets and games. CoinGeek presents a unique perspective on blockchain, AI, and Web3, emphasizing the BSV blockchain’s robust enterprise utility and unbounded scalability, as described by Satoshi Nakamoto in his 2008 Bitcoin white paper.