March 16, 2021 |James Messi
Beaxy Exchange offers convenient access to dozens of cryptocurrencies through multiple fiat currencies, major credit and debit cards, and more.
This week, Beaxy became the latest exchange to be integrated into Hummingbot, as well as the first to offer spot crypto trading on MetaTrader 5. Through a partnership with Paxful, Beaxy enabled more than 350 ways to convert BTC to USD and vice versa.
Additionally, Beaxy became the first crypto exchange to leverage Dragonchain’s anti-fraud technology to provide its clients with fully transparent trading.
This article outlines everything you need to know about Beaxy’s new implementations and what they mean for you. Let’s dive in.
Official Hummingbot Integration
Beaxy is the latest exchange to be officially integrated into Hummingbot’s automated market-making platform. Connect to Hummingbot with the API keys in your account, select a pre-built strategy, and deploy a high-frequency trading bot on a U.S.-based cryptocurrency exchange.
Hummingbot is an open-source platform and is free to use for anyone with a Beaxy Exchange account. Once your Beaxy account is connected, you can pick a market-making strategy to run on any pair offered on the exchange. If you’re set up with other exchanges on Hummingbot, you can implement marketing-making and arbitrage strategies between the two exchanges.
Market-making trading bots will automatically open, execute, or cancel limit buy and sell orders on your behalf. When configuring your market-marker, you get to choose how far (in percentage terms) your orders are from the current price, how often they will be canceled and replaced, and the amount of money that you want on each order.
Once your bot is running, it will get to work providing liquidity and automatically entering buy and sell orders below and above the current mid-point price.
The latest release of Hummingbot was optimized for trading on Beaxy exchange so that anyone can become a market-maker in minutes. Download Hummingbot, connect your Beaxy account, configure your strategy, and begin making a market.
Trading Crypto on MetaTrader5
MetaTrader 5 is an ultra-popular trading platform that has been used primarily to trade in the FX and equities markets. With this implementation, every Beaxy account holder can now trade cryptocurrency on MT5’s powerhouse platform.
MetaQuotes Ltd, the creator of MT5, has been building advanced trading software for more than two decades. Finance Magnates recently gave the award for Best Multi-Asset Platform and Best FX Trading Platform to MT5.
MetaTrader 5 comes pre-loaded with dozens of useful tools that include:
- 38 built-in technical indicators
- 100+ price charts with 21 timeframes from one minute to one-month intervals
- Real-time PnL tracker on open positions
- Breaking international news streams and an economic calendar
- Advanced price alerts
- Free past and live trading data for optimizing your bots
Beyond these features, MetaTrader 5 is much more than a platform for trading. With your account, you’ll get access to a marketplace full of trading signals and algorithmic bots that are posted by other members of the community. See the backtested results of these strategies to determine which ones can have the most success. When you purchase a set of signals or trading bot from a community member with an impressive track record, the strategy is deployed directly on MT5.
Starting today, Beaxy traders can fund their MetaTrader5 account by transferring BTC, USDC, and USD into the MT5 wallets listed in their account. With a funded MT5 wallet, you can trade in and out of BTC and ETH with USDC and USD.
Paxful is Live on Beaxy
Paxful, the peer-to-peer cryptocurrency trading platform gives you more than 350 ways to convert BTC to USD and vice versa. This includes purchasing Bitcoin with credit and debit cards, gift cards, online wallets like PayPal, other cryptocurrencies, and more.
Paxful is a universal money translator that you can use on Beaxy to turn virtually anything into Bitcoin. With their name being derived from the Latin word for “peace’, Paxful’s mission is simplifying crypto transactions and making them easier for every market participant from individuals to merchants.
Paxful has already onboarded more than 12,000 trusted vendors and 4.8 million users. The work they’ve done to advance the mainstream adoption of crypto has been truly impressive and Beaxy Exchange is proud to offer an additional gateway to the Paxful ecosystem.
Beaxy Implements Anti-Fraud Technology
In March 2021, Beaxy became the first cryptocurrency exchange to implement Dragonchain’s Proof Systems that provide anti-fraud protection to traders by producing a time-stamped record of every order that is sent to, modified, canceled, and executed on the exchange.
With new reports suggesting that more than $100 million in value has been captured by front-running bots on decentralized exchanges, increasing transparency across the board is becoming more vital to maintaining a sustainable market for both retail and institutional traders.
In the case of decentralized exchanges, where every order can be seen on a blockchain, front-running bots are copying orders and jumping their spot in line by attaching a higher gas fee. This creates an imbalance in the market that is not conducive to retaining retail activity on the exchange, and for good reason.
Beyond decentralized exchanges, order book front running, spoofing, and wash trading have been negatively impacting retail crypto traders since the days of Mt. Gox. With Dragonchain’s anti-fraud technology, every order that interacts with Beaxy Exchange can be thoroughly inspected in a real-time proof report.
Trading on Beaxy Exchange gives you unparalleled peace of mind knowing that an immutable record of every order can be publicly viewed and scrutinized.
Check out the real-time Proof Systems report to ensure that all orders and transactions were placed or executed in accordance with Beaxy’s central limit order book. Begin by picking the trading pair that you want to investigate. The timestamp, price, amount, and type of each order are listed on the page.
More Fiat Currencies
Beaxy added support for deposits, withdrawals, and trading in Euros (EUR) against Bitcoin (BTC) and Ethereum (ETH). All of the exchange’s clients can begin funding their account with EUR via SEPA transfers.
Additional global fiat currencies are on the way. Support for GBP, JPY, CAD, and AUD is coming soon to Beaxy Exchange.
Can’t-Miss Offers on Beaxy Exchange
For a limited time, Beaxy will rebate your trading fees before you spend them so that you can trade with a bigger stack. Opt-in to the Match Bonus Program before your next deposit to have it matched 100% up to $500.
If you love trading on Beaxy, so will your friends and family. Share the referral link in your account to earn 30% of your referral’s trading fees, paid out every month, forever.
Don’t forget to join the Updates channel on Telegram to stay current on all things Beaxy and access a feed of curated crypto news and analysis.
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