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Nagato Dharma

Beaxy Exchange – Analysis & Interview

Presentation and interview with the Head of Marketing at Beaxy.

Beaxy is a new revolutionary exchange that is aiming to disrupt the cryptocurrency trading industry. It uses state-of-the-art technology and has a strong team from various backgrounds. What makes them stand out is that they actually listen to their users and they are building a high-speed exchange that will satisfy every customer’s needs.

The existing digital asset and cryptocurrency exchange marketplace technology is slow. In many cases, customer support can take weeks and users are frequently forced to open accounts on several platforms to successfully execute basic trading strategies and fiat migration. Beaxy aims to change all that.

Overview

Beaxy is an all-in-one cryptocurrency exchange that contains all the tools and resources to support traders with any level of experience. They have an exclusive partnership with OneMarketData, which helps with data management, provides real-time analytical events technology (utilized by Bloomberg and The Federal Reserve) and built Beaxy’s tech on top of their existing software. The result is a platform with extremely low latency and market leading high speed data transmission. The matching engine has unparalleled speeds of up to 225,000 transactions per second, per pair – comparable to that of NASDAQ. That means, 100 pairs = 22,500,000 transaction per second.

Beaxy also brings military-grade security to the crypto world through its own IP whitelisting process utilizing hot and cold wallets with automated “sweeping”. They also have established a partnership with the cyber security company Optiv​, an industry leader when it comes to IT internet security.​

“We wanted to increase the sophistication level of our analysis and approach. Our partnerships enabled us to deliver a premiere exchange platform, the likes of which the cryptocurrency market has not yet seen.”

Artak Hamazaspyan, Beaxy’s Co-founder and CEO

Features

Beaxy is offering everything someone would need from an exchange. From staking and discounted fees to 24/7 support and a mobile app, it will be one of the most secure and trusted cryptocurrency exchanges.

Two Tokens

Beaxy has created two tokens: BXY and PLS.

BXY is the utility token that allows users to mitigate commission fees on the Beaxy Exchange, and also offers a Staking Program that will further discount trading fees.
PLS provides loyalty rewards to qualified holders who convert 1 their BXY to PLS. PLS token holders will be rewarded with a proportionate share of up to 25% of the monthly transaction fees collected by the Beaxy Exchange.

In-Exchange Charting

Beaxy has collaborated with Trading View® to build a custom API bridge that integrates Trading View charting directly into the exchange. That means whatever you can do with Trading View you can also do on Beaxy. Users will be able to look at the chart and see where their current orders are placed, and also have the ability to cancel orders directly from the chart.

Interview

I contacted Beaxy to learn more about their exchange’s plans, what to expect from them in the future & to discuss about the economic aspect of cryptocurrencies.

Q: Hello, could you please introduce yourself and explain what is your role in the Beaxy exchange?

A: Hi, my name is Franklin. I’m the Head of Marketing at Beaxy.

Q: After being in the cryptocurrency space for some time, I’ve noticed that most exchanges don’t have active communication with their customers. What problems do you aim to solve with Beaxy and what will you do to improve the user experience?

This is true, most exchanges have done a poor job of interfacing with customers effectively. They’re more like a fortress on a hill than a welcoming brand. With Beaxy there are a few problems we aim to solve.

First, we wanted to have an active customer support team with fast response times to customer support tickets. Thus far we have managed to do this.

Second, we wanted to engage directly with users on social media and respond to them in real time.

Third, we wanted to create our own community where folks could come and talk directly with our team and get their questions answered. This idea of community is very important to us. We recently created that community, if you wish to join you can do so here – https://discord.gg/rMX3s5m.

Q: Your first coin listings were made for free. How many coins are you going to list? Do you plan to empower companies that use blockchain technology and when will you start offering ICO services on Beaxy?

Yes that’s correct, all of the coins/tokens listed in our first three rounds were done for free. We didn’t want there to be a huge barrier for good projects to get listed and have liquidity. We will always seek to empower legitimate community driven blockchain projects via listings and otherwise.

As far as token launch services we plan to have this ready by the end of the year. We will work directly with our partners at Paperstreet to do this. We plan to host compliant token sales and offer other tools & resources to help projects succeed.

Q: A lot of people who didn’t know a lot about economics in the past, have now started getting involved in cryptocurrency trading and they are looking for knowledge to educate themselves in this field. What are your thoughts on this and what do you believe will be the future of the digitized assets trading?

It’s true that many newcomers to the crypto space are learning about economics and trading for the first time. This puts them at risk in a volatile market with many scams waiting around every corner.

To help educate and protect traders we will offer educational articles and videos on our website about how to manage risk, the basics of cryptocurrency and blockchain, how to use advanced order types and much, much more. We already have nearly 200 such articles written in anticipation of the exchange launch.

Q: That sounds awesome. I also noticed that you will have Trading View integrated within the platform, this will be helpful for both experienced and new users.

A: As was partially explained in the response to the last question, we will have educational videos that cover how to use advanced order types, as well as how to use Trading View. We want to make sure our users are aware of the benefits of these features and how to effectively use them.

Q: Could you explain what OTC trades are?

A: OTC stands for over the counter, and it typically means large buys or sells of cryptocurrency that do not take place on the order books. Buyers or sellers go this route because they don’t wish to impact the order books and suffer price slippage. Right now the OTC market in crypto is quite large, many estimates guess it is larger than the entire exchange market.

Q: That is interesting. I also wanted to ask you, judging from your experience with Beaxy, what is the current legal state of Bitcoin and cryptocurrency exchanges in Europe?

A: More favorable regulation gets passed every day. Generally speaking it’s much easier to get exchange licenses, money transmitter licenses, and approval from local governments to operate as an exchange in Europe compared to elsewhere in the world. Across Europe cryptocurrencies have generally been accepted by governments and deemed commodities rather than securities.

Q: In your exchange users will be able to deposit & withdraw funds in EUR & USD. What options will be available?

A: Yes, we plan to have this feature available within the first six months after launch. At first we will have bank transfer available and will eventually have credit card purchase options available too.

Q: Alright, thank you for taking the time to talk with me and sharing some information about Beaxy. Any final thoughts?

A: I just want to say thanks for talking with me today and I welcome anyone who is reading this to register for our exchange at www.beaxy.com.


The platform will be available for trading in the first quarter of 2019. You can also earn a 20% discount on trading fees for two months if you register by using this link.

If you want to learn more about Beaxy you can check the links, below:
Official Website
Discord
Telegram
Tokensale


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