Trade BXY to BTC on Beaxy
The Beaxy token (BXY) is the native asset of the Beaxy Exchange and is primarily used by those participating on the exchange to earn rewards and receive discounts on trading fees. The BXY token began trading with a BTC and USDC pair in June of 2019.
Features of Beaxy
Pay with BXY
The primary feature of the BXY token is the Pay With BXY option which allows traders on the Beaxy Exchange to pay their trading fees in BXY instead of bitcoin, fiat currency, or other digital currencies. Opting to pay fees with BXY can save traders up to 25% on their trading fees depending on how much volume they generate on the exchange.
STK Loyalty Rewards Program
Additional features of the BXY program include the STK locking program as well as the goal-oriented token burns. The STK program gives BXY token owners the chance to lock their tokens and earn more BXY tokens based on the number of tokens that are locked, the length of time they are locked for, and the amount of daily volume generated on the exchange. In the most ideal conditions, those locking their tokens can earn up to 12% per year in returns. In order to earn higher returns, you can choose to lock more tokens, lock them for a longer period of time, or both. The goal-oriented token burns are designed to reward BXY token holders by reducing the total number of BXY in the circulating supply, thereby making the share of tokens held by everyone else higher. These tokens burns are based on total daily volume.
Frequently Asked Questions
What is Beaxy?
Beaxy is a comprehensive digital asset trading platform that combines all of the best features in crypto into one exchange. The exchange offers many exciting ways for traders to earn BXY tokens for actions that they take on the exchange such as making trades or referring the platform to other traders. Beaxy gives you access to professional trading tools like TradingView charts and AI-generated trading signals to make technical analysis even more convenient and effective. The platform also enables its users to purchase digital assets using a credit or debit card, their bank account, or a wire transfer. And all of this while offering lower fees than the competition. The BXY token is the base asset for the trading platform, Participants of the exchange can hold and use the token to generate rewards, benefits, and discounts on the exchange. The BXY token follows the ERC20 standard and can be held in any ERC20 compatible wallets.
The BXY token utilizes the ERC20 technology standard to make the token more useful and ubiquitous. As an ERC20 token, BXY is compatible with all ERC20 wallets and platforms. This makes it easy for BXY token owners to move their assets and enhance the security of their holdings. This also allows for easy tracking of the BXY tokens in circulation. All ERC20 tokens can be tracked using sites like Etherscan.io which provide full transparency on all movements of the BXY token.
How to mine Beaxy?
The BXY token is not mined into creation in the way that other digital currencies are. The total supply of 500,000,000 BXY tokens was created at the same time when the ERC20 token first launched. The majority of the total supply of BXY tokens are locked and not in the circulating supply. Instead of mining, the ways to acquire BXY are by purchasing the token on the Beaxy Exchange, earning BXY by participating in promotional deals on the exchange, or by completing a peer-to-peer transaction with someone who has BXY tokens to exchange with. To acquire the BXY token on the Beaxy Exchange simply register for an account, verify your identity, and fund your account with cash or digital currency. Once your account is funded you can use your balance to purchase BXY tokens.
Risks of Beaxy Trading
Investment Risk The price of digital currencies, including BXY, regularly moves a lot in very short periods of time. This means that cryptocurrencies are a very volatile asset class. Increasing volatility is generally seen as an increase in the overall risk. Relative to legacy markets, it doesn’t take as much trading volume to move digital asset prices. Security Risk BXY’s security risks are more complicated than other assets such as stocks or real estate. It is important to reduce your attack surface as much as possible. You can do so by holding your BXY in an ERC20 wallet that is not connected to the internet such as MyEtherWallet. This requires a hacker to get your private key before they could gain access to your wallet. When using a wallet that is connected to the internet, a hacker may only need your password to a website in order to steal your bitcoin. When using an offline wallet with a properly recorded and stored private key, you have significantly reduced your attack surface. Regulatory Risk All digital assets have regulatory risk that stems from them being partially anonymous. Governments know that cryptocurrency can be used to launder money and they have a general lack of incentives to help digital assets as they see them as a competitor to their national FIAT currencies. Because of this, there is a possibility that governments could apply unusually harsh regulations for using or owning cryptocurrency. They could even ban the digital currencies outright and make their use or possession against the law. This is a major risk as any such action taken by a powerful nation could negatively affect the value of the digital currencies.
Conversion rates US Dollar (USD) to Beaxy (BXY) 09/28/2022 10:33 AM
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