How to buy Beaxy (BXY): a detailed guide
BXY is the official token of the new Beaxy cryptocurrency exchange, which allows users to participate in betting, reduce commission fees and receive discounts up to 50%.
Beaxy has completely modernized its approach to buying and selling digital assets. In general, the exchange is committed to providing a service that is suitable for beginners and more experienced market participants.
Beaxy also has a PLS token. It provides rewards for loyalty to qualified owners who convert their BXY to PLS. PLS token owners are rewarded with a proportionate share of up to 25% of the monthly transaction fee charged by the Beaxy Exchange.
In the framework of the project, the initial placement of coins was carried out until September 2018. ICO raised about 3 million US dollars.
How can you buy BXY? Get started on the Beaxy cryptocurrency exchange. First, you need to create an account. Go to the official website and click on the “register” tab. Indicate your full name, email address, password and date of birth. After that, a confirmation link will come to your mail, click on it and log in to your account.
- The exchange supports five user accounts:
- Standard (30 BTC)
- Silver (60 BTC)
- Gold (100 BTC)
- Platinum (200 BTC)
- Diamond (500 BTC)
Each of them is associated with rate commitments, various trade discounts and other benefits such as increased withdrawal limits. Most of the main functions of the exchange are unlocked through the KYC verification process. You will not be able to buy BXY without passing the KYC verification process. After checking, you can withdraw up to 30 BTC per day using any combination of your wallets.
To start the KYC verification process, click on your name and select KYC from the menu.
Click the “confirm me” button and select your preferred language. You can also complete the validation process using your smartphone by clicking the link at the bottom of the panel. You should then select the country in which you received the document before downloading it.
To take a picture of a document, you can use the “take a picture from your smartphone” function and upload your ID card. Smartphone users can click the link at the bottom of the panel for further instructions by email on what to do next.
After downloading your ID, you need to make a short video and then confirm that you have followed all the instructions correctly. The video requires you to shoot your face in a circle, each turn should last about three seconds.
The Beaxy team recommends taking photos with Google Photos’ PhotoScan or Microsoft’s Office Lens, as they are more reliable in creating clear images and capturing documents. Once the KYC application process is complete, the icon next to your name will change to “under review”, and you will be notified of your results once the check is complete.
To transfer funds, you need to click on the “My Wallets” tab in the upper right corner of your screen, select your preferred currency and click the + icon next to it. This will expand the list of your wallets for this currency.
The wallet columns include the name of the wallet, the available balance, the reserved balance and the locked balance that is blocked in any betting or loyalty program. You also have the Pending and Total Balance columns, and the Is Default feature allows you to set the default wallet for each currency. You can also make transfers within your wallets and create new ones. The first time you make a deposit, you will be prompted to create an address for the wallet.
After creating the address, you will see a standard QR code and an alphanumeric string that can be used to transfer funds from your existing wallet. Beaxy allows you to have several wallets for each currency. However, your funds will only be credited to the default wallet and you will be able to freely transfer funds between your internal wallets. Once your transfers are confirmed, you can buy BXY.
Beaxy charges a fixed 0.2% transaction fee. However, users who choose to pay their trading fees with BXY tokens get a 50% discount and pay 0.1%.
In addition to providing reduced payments, Beaxy token also provides access to additional premium instruments.
How to sell Beaxy (BXY)
Selling BXY is very simple. By the time you decide to sell a token, you will already be listed on the exchange and will generally be better oriented on the platform. Thus, you just need to go to the sale page, enter the amount you want to sell and confirm the transaction.
On the Beaxy website, you can easily switch between Buy and Sell options. In both cases, the system works the same way. You choose your coin type, wallet and payment method. However, because of the high stakes, rather than selling the whole BXY, the most common option is a fractional sale. You need to enter the amount of money you are willing to spend, and the system will immediately display the number of coins received.
Here are some tips on how to sell BXY:
- Use more than one exchange. Low fees, user-friendly interface, variety of payment methods, advanced account protection are the main factors to consider.
- Do not rush to exchange coins for a specified currency and then withdraw funds to your bank account. More and more stores and companies are accepting bitcoins and some other altcoins.
- As a novice trader, trust the market flow. Choose the most popular exchanges, trading platforms and coins. Later, with some experience, you will be competent enough to make appropriate decisions depending on your sales plans.