Beaxy is an all in one exchange created by a group of professional coders and traders that seeks to eliminate the risks and complexity of crypto trading through a unification of access to fiat and cryptocurrencies thus increasing the security on your crypto investments. They offer a variety of order types that are yet to be offered on other crypto exchanges allowing more control over trades. In addition, they offer the ability to create multiple wallets for different coins to best benefit one’s portfolio and to keep funds organized. Through partnerships with trading and blockchain platforms and a strong advising team, Beaxy will offer a well-executed crypto trading smart platform with thorough insight into regulatory standards and security as a priority.
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The strength, depth, and transparency of the Beaxy whitepaper and technical whitepaper show significant potential as an exchange. The main consideration would be Beaxy’s security, a topic heavily covered in their documents. From the whitepaper, Beaxy is a centralized exchange, thus working as an intermediary between trades. Currently, centralized exchanges can be susceptible to hacks because of storage of coins on their centralized wallets. In June of this year, a South Korean platform was compromised with over $32 million of funds taken from the exchange. However, Beaxy emphasizes the added security of their tech through both hot and cold wallets, in addition to a whitelisting process, in order to provide security for the users as well as the project.
Compared to other exchanges such as Binance or Coinbase, Beaxy offers an all in one platform that is easy to use with their updated user interface. Coinbase offers USD deposits allowing for new investors to get started, but currently only offers four coins. Binance, on the other hand, offers the purchase of other crypto coins outside of the four offered but has no way of depositing US currency and the user interface can be frustrating. A platform that combines everything you would need into one has huge advantages when considering the current steps in place to make purchases.