Launched in April 2018, the Bilaxy exchange is a centralized exchange registered in the Republic of Seychelles and launched in early 2018, with Bilaxy Exchange claiming to have hundreds of thousands of traders from more than 80 countries around the world.
Bilaxy is very concerned about the liquidity of new tokens for cryptocurrency traders around the world. With 150+ cryptocurrency pairs, Bilaxy aims to build a leading global trading platform that offers a wide range of trading products and services to traders around the world, with a focus on transparency, reliability, quality execution, and customer service.
Bilaxy overview
Bilaxy operates without full regulatory oversight, raising concerns about the integrity of its operations. Potential users should exercise caution as there are risks involved. Trading with unregulated exchanges is inherently dangerous, so a thorough risk assessment is required before trading on such platforms. Despite the lack of regulatory oversight, it employs specific security measures to ensure the safe handling of deposits and withdrawals. However, users should make their own efforts to evaluate the security protocol, using feedback and independent research. Relying solely on user input may not adequately assess the platform's security history. Users should also review security practices and diversify their investments while sharing data carefully. The strain offers 514 tradable cryptocurrencies, including major options such as Bitcoin (BTC) and Ether (ETH), but lacks comprehensive educational resources to facilitate interaction through a community platform. Customer support is available via Twitter, Telegram, and email.
Pros and consAdvantages
:
Bilaxy's transaction fee structure is straightforward, with a fixed 0.20% fee for both marketplace makers and market takers.
Leveraging Bilaxy's native token, BIA provides users with the opportunity to further reduce transaction costs.
There are more than 500 cryptocurrencies on the platform for traders to choose from. Coinsystem supports anonymous transactions, and its user-friendly interface is designed for beginners.
Additionally, round-the-clock customer support ensures that assistance is available, although response times may vary.
Cons:
Some cryptocurrencies have higher fees for withdrawals, and some exchanges may face issues with low liquidity.
It is important to note that Bilaxy does not have significant oversight under the supervision of major financial institutions.
While the platform offers 24/7 customer support, there are occasional delays in responses.
The user-friendly interface is popular for newbies, but sometimes it comes with slow performance and glitches.
regulator
Bilaxy's lack of proper regulation and oversight has raised concerns about its operations. Potential users are advised to exercise caution in view of the potential risks involved.
Traders need to keep in mind that there are inherent risks when using unregulated exchanges, and they should carefully evaluate these risks before deciding to trade on these platforms.
security
Security is an important consideration for users. While Security doesn't have a regulatory body, it has some measures in place to protect users' funds and information. These measures include support for deposit and withdrawal transactions, providing users with a convenient and secure way to manage their money.
In addition, it is very important for users to conduct their own research and evaluate the measures of the platform. This can include looking for user feedback and reviews to assess the overall satisfaction and experience of other users. By considering these perspectives, users can get a better idea of the platform's security history.
However, it's important to note that relying solely on user feedback may not give you a complete picture of the platform's security. Users should also consider other important factors such as the platform's security protocol, encryption practices, and other security features offered.
Overall, while Bilaxy doesn't have a regulatory body, users can take some precautions to enhance their security. These include using secure wallets, sharing personal information discreetly on the platform, and diversifying investments across different exchanges. By proactively evaluating and implementing security measures, users can help mitigate the potential risks that may come with trading on non-regulated exchanges like Cryptocurrency.
marketplace
Spot trading: Bilaxy offers over 1,000 cryptocurrency trading pairs, including major coins such as Bitcoin and Ether, stablecoins, and a variety of lesser-known altcoins. It supports both market orders (instant execution) and limit orders (execution at a specific price). Bilaxy charges a standard transaction fee of 0.25% for both marketplace makers and marketplace takers, and a 50% discount for users who pay with the platform's native BIAtoken.
Margin trading (limited): Bilaxy offers limited margin trading options for specific cryptocurrency pairs. The maximum leverage level is usually around 5x, which is much lower than other exchanges. Trading on margin carries the potential risk that can result in losses in excess of your initial investment, so this feature should be used with caution.
Bilaxy Token (BIA): BIA is the platform's native utility token with a variety of benefits, including a 50% fee on transactions, participation in platform governance decisions, and rewards through a staking program.
Liquidity Mining: Bilaxy provides liquidity mining pools, and users can earn BIA tokens by providing liquidity for specific cryptocurrency pairs. This incentivizes users to contribute to the platform's market depth and potentially earn Passsive Income.
Bilaxy App
For Android (Google Play Store):
1. Open the Google Play Store on your Android device.
2. Type "Bilaxy" in the search bar and press Enter.
3. Find the official Bilaxy app in the search results.
4. Tap on the app to open its store page.
5. Click on the "Install" button to download and install the app onto your device.
For Apple (App Store):
1. Open the App Store on your Apple device.
2. In the search tab, type "Bilaxy" and press Enter.
3. Find the official Currency app in the search results.
4. Tap on the app to open its store page.
5. Click on the "Get" or download button to download and install the app on your device.
fees
Bilaxy charges a 0.20% trading fee for all traders and applies to both market makers and market takers. In order to get additional benefits, users can choose to settle transactions using BIA, the local token of the currency system, and enjoy a 50% fee reduction. Sustainability of the platform: Bilaxy implements a monthly maintenance fee of 0.0005 BTC to maintain exchange operations and expenses.
Deposits and withdrawalsAlthough
deposits in cryptocurrencies are free, the platform imposes fees on withdrawals in various currencies, such as 0.0005 BTC for Bitcoin withdrawals and 0.008 ETH for Ethereum.
customer support
Bilaxy ensures the accessibility of customer support through various avenues,
such as their official Twitter account (https://twitter.com/Bilaxy_exchange).
Telegram chat (https://t.me/bilaxychat) and email (service@bilaxy.com) through which users can get guidance and platform updates.
In addition, the listing of the coin system on CoinMarketCap (https://coinmarketcap.com/exchanges/bilaxy/) and
CoinGecko (https://www.coingecko.com/en/exchanges/bilaxy/) provides additional channels, to get information about Exchange's services and market insights.
