Launched In April 2018, Bilaxy Exchange Is A Centralized Exchange Registered In The Republic Of Seychelles And Launched In Early 2018. Bilaxy Exchange Claims To Have Hundreds Of Thousands Of Traders From More Than 80 Countries Around The World.
Bilaxy Has A Strong Focus On The Liquidity Of New Tokens For Cryptocurrency Traders Worldwide. With 150 + Cryptocurrency Pairs, Bilaxy Aims To Build A Leading Global Trading Platform That Offers Traders Worldwide A Wide Range Of Trading Products And Services With A Focus On Transparency, Reliability, Quality Execution And Client Server.
Overview Of Bilaxy
Bilaxy Operates Without Full Regulatory Oversight, Raising Concerns About Operational Integrity. Wold-be Users Should Exercise Caution Because Of The Associated Risks. Trading With Unregulated Exchanges Is Inherently Dangerous, So A Thorough Threat And Risk Assessment Is Required Before Trading On Such Platforms. Despite The Lack Of Regulatory Oversight, The Cryptocurrency Family Employs Specific Security Measures To Ensure The Safe Handling Of Deposits And Withdrawals. However, Users Should Evaluate Security Protocols Autonomously, Leveraging 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 Cautiously. The Coin Series 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 Cons
Pros: Bilaxy's Transaction Fee Structure Is Simple And Straightforward, With A Fixed 0.20% Fee For Both Market Makers And Market Takers. Utilizing Bilaxy's Native Token, BIA Offers Users The Opportunity To Further Reduce Transaction Costs. There Are Over 500 Cryptocurrencies Available On The Platform For Traders To Choose From. The Coin Series Supports Anonymous Trading, And Its User-friendly Interface Is Designed For Beginners. In Addition, 24/7 Customer Support Ensures Assistance, Although Response Times May Vary.
Cons: Some Cryptocurrencies Have Higher Fees When It Comes To Withdrawals, And Some Exchanges May Face Problems With Low Liquidity. It Is Worth Noting That Bilaxy Has No Significant Oversight Under The Supervision Of The Major Financial Institutions Group. While The Platform Provides 24/7 Customer Support, There Are Occasional Cases Of Delayed Responses. The User-friendly Interface Is Popular For Newbies, But There Are Times When Performance Is Slow And Functionality Glitches.
Regulators
Bilaxy Lacks Proper Regulation And Oversight, Raising Concerns About Its Operations. Given The Latent Risks Involved, Caution Is Advised For Would- Be Users.
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. Although Security Does Not Have A Regulatory Authority, It Has Taken Some Measures To Protect Users' Funds And Information. These Measures Include Support For Deposit And Withdrawal Transactions, Providing Users With A Convenient And Safe Way To Manage Their Funds.
Furthermore, Measures For Users To Conduct Their Own Research And Evaluate The Platform Are Very Important Security. This Can Include Looking For User Feedback And Comments To Assess The Overall Satisfaction And Experience Of Other Users. By Considering These Perspectives, Users Can Gain A Better Understanding Of The Platform's Security History.
However, It Is Important To Note That Relying Solely On User Feedback May Not Provide A Comprehensive Understanding Of The Platform's Security. Users Should Also Consider Other Important Factors Such As The Platform's Security Protocols, Crypto Practices, And Other Security Features Offered.
Overall, While Bilaxy Does Not Have A Regulator, There Are Some Precautions That Users Can Take To Enhance Their Security. These Include The Use Of Secure Wallets, Discreet Sharing Of Personal Information On The Platform, And Diversification Of Investments Across Different Exchanges. By Actively Evaluating And Implementing Security Measures, Users Can Help Mitigate The Latent Risks That May Come With Trading On Non-regulated Exchanges Like The Cryptocurrency Family.
Trading Marketplace
Spot Trading: Bilaxy Offers More Than 1,000 Cryptocurrency Trading Pairs, Including Major Currencies Such As Bitcoin And Ether, Stablecoins, And Various Lesser-known Altcoins. It Supports Market Orders (instant Execution) And Limit Orders (execution At A Specific Price). Bilaxy Charges A Standard Trading Fee Of 0.25% For Both Market Makers And Market 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 Latent Risk That Could Result In Losses Exceeding Your Initial Investment, So This Feature Should Be Used With Caution.
Bilaxy Token (BIA): BIA Is The Platform's Native Utility Token With Multiple Benefits, Including Trading Discounts Of 50% Fees, Participation In Platform Governance Decisions, And Earning Rewards Through A Staking Scheme.
Liquidity Mining: Bilaxy Provides Liquidity Mining Pools Where 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. Enter "Bilaxy" In The Search Bar And Press Enter.
3. Find The Official Bilaxy App In The Search Results.
4. Click On The App To Open Its Store Page.
5. Click On The "Install" Button To Download And Install The App To Your Device.
For Apple (App Store):
1. Open The App Store On Your Apple Device.
2. In The Search Tab, Enter "Bilaxy" And Press Enter.
3. Find The Official Coin Series App In The Search Results.
4. Click 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.
Fee
Bilaxy Charges A Transaction Fee Of 0.20% For All Traders, Applicable To Both Market Makers And Market Takers. For Additional Benefits, Users Can Choose To Settle Transactions Using BIA, The Native Token Currency Of The Cryptocurrency, And Enjoy A 50% Fee Reduction. Sustainability Of The Platform: Bilaxy Implements A Monthly Maintenance Fee Of 0.0005BTC, Which Is Used To Maintain Exchange Operations And Expenses.
Deposits And Withdrawals
Although Deposits In Cryptocurrencies Are Free, The Platform Imposes Fees On Withdrawals Of Various Currencies, Such As 0.0005 BTC For Bitcoin Withdrawals And 0.008 ETH For Ethereum Withdrawals.
Customer Support
Bilaxy Ensures The Accessibility Of Customer Support Through Various Avenues, Such As Their Official Twitter Account (https://twitter.com/CoinMarketCap _exchange), Telegram Chat (https://t.me/bilaxychat) And Email ([email protected]), Through Which Users Can Obtain Guidance And Platform Updates. Additionally, CoinMarketCap (https://coinmarketcap.com/exchanges/bilaxy/) And CoinGecko (https://www.coingecko.com/en/exchanges/bilaxy/) Listings Provide Additional Channels To Obtain Information About Exchange's Services And Market Insights.
