Bilaxy is a centralized digital exchange that offers 300 tradable coins to traders of 80+ countries. The exchange provides TradingView charts, order books, and trade history.
Bilaxy Exchange has a fixed commission rate of 0.2% for makers and takers. It has a mobile application for Android and iOS. Bilaxy Crypto has also launched its sovereign cryptocurrency, called "BIA."
Bilaxy Exchange Information
Bilaxy is a centralized cryptocurrency exchange that burst onto the scene in early 2018, setting up shop in Seychelles.
This tropical location, while idyllic, has raised some eyebrows in the crypto community due to its potentially lax regulatory environment.
Bilaxy's structure and regulatory status:
- Centralized Exchange: Bilaxy operates as a centralized platform, meaning it acts as an intermediary between buyers and sellers.
- Seychelles Registration: While this allows for certain operational freedoms, it may also mean less stringent oversight compared to exchanges in more tightly regulated jurisdictions.
- Wide Range of Trading Pairs: Bilaxy supports nearly 1,000 trading pairs, including approximately 300 USDT pairs, 4 BTC pairs, 300 ETH pairs, and 150 BNB
Summary of Key Features
The table below summarizes the information and features provided by Bilaxy Exchange:
Exchange | Bilaxy |
Launch Date | 2018 |
Levels | None |
Trading Fees | 0.2% for Taker 0.2% for Maker |
Supported Coins | 300 |
Futures Trading | No |
Minimum Deposit | $1 |
Deposit Methods | VISA, MasterCard, Advcash, Cryptocurrencies |
Withdrawal Methods | VISA, MasterCard, Advcash, Cryptocurrencies |
Maximum Leverage | 1:1 |
Minimum Trade Amount | N/A |
Security Factors | 2FA, KYC |
Services | Spot Trading, Swap |
Customer Support Ways | FAQ, Ticket, live chat, Email |
Customer Support Hours | 24/7 |
Fiat Deposit | Yes |
Affiliate Program | Yes |
Orders Execution | Market |
Native Token | BIA |
Restricted Countries | United States, Mainland China, Singapore |
Is There Any User Level Available in Bilaxy?
Bilaxy takes a different approach compared to many other exchanges and has no tiered structure user level. In other words, the exchange maintains a flat structure for all users.
Bilaxy Exchange Commissions & Fees
Both maker and taker fees are set at 0.2% in Bilaxy Crypto, but there are some nuances to be aware of:
- BIA Token Discount: Using Bilaxy's native BIA token for fees can slash your trading costs by 50%, bringing them down to 1%.
- Withdrawal Fees: These are dynamic and adjusted based on network conditions.
- Deposit Fees: Deposits are free! However, you might incur network fees when transferring funds to your Bilaxy account.
How Many Coins and Pairs are Available to Trade in Bilaxy?
As of now, 300 coins and nearly 1000 pairs are available to trade.
Bilaxy Trading Pairs:
- USDT Pairs: Approximately 300
- ETH Pairs: Around 300
- BTC Pairs: 4 major pairs
- BNB Pairs: About 150
- Stablecoins: Various options such as USDT, USDC and BUSD
The exchange supports popular cryptocurrencies like Bitcoin, Ethereum, and Tether, as well as a wide range of altcoins and tokens.
Does Bilaxy Exchange Support Futures and Margin Trading?
Bilaxy does not offer any futures contracts or other derivative products. Beside that, no margin trading is available in this exchange.
Registration and Verification on Bilaxy Exchange; Step-by-Step Guide!
Getting started on Bilaxy is no difference to other crypto exchanges:
- Visit the Bilaxy website (https://bilaxy.com/) and click "Sign up"
- Provide a valid email address and create a strong, unique password
- Verify your email by entering the code sent to your inbox
- Enable two-factor authentication (2FA) using Google Authenticator or a mobile number
- Complete KYC verification by providing personal information and identity documents
Bilaxy Exchange Security
The only information about Bilaxy exchange security is two-factor authentication (2FA) and KYC. The information you need to know about Bilaxy security is as follows:
- Two-Factor Authentication (2FA): Bilaxy offers 2FA as an additional layer of security for user accounts.
- KYC Verification: Know Your Customer procedures are in place to prevent fraud and comply with regulations.
- Hot Wallet Hack: In August 2021, Bilaxy suffered a major hack, losing approximately $21 million in user funds.
- Lack of Transparency: There's no public information about the Bilaxy team and their security practices.
- No Insurance: Unlike some top-tier exchanges, Bilaxy doesn't offer insurance coverage for user funds.
While Bilaxy has implemented standard security measures, the 2021 hack and lack of transparency raise serious concerns about the overall security of the platform.
Payment Methods
Bilaxy offers a limited selection of payment methods compared to some larger exchanges:
- Cryptocurrency Deposits: The primary method for funding your account
- Visa/Mastercard: Available for purchasing cryptocurrencies
- Advcash Wallet: An e-wallet option for deposits
The minimum deposit is set at 0.00001 BTC or $1 in USD/USDT, with a minimum trade size of $1.
Bilaxy Exchange Trust Scores
Trust is paramount in the cryptocurrency world, and Bilaxy's scores paint a concerning picture:
- Trustpilot: 1.8 out of 5 based on over 60 reviews
- CoinGecko: A mediocre 5/10, indicating room for improvement
What Investment Options are Available in Bilaxy?
For traders looking for passive income or copy trading features, Bilaxy falls short and doesn’t offer copy trading or staking:
- No Copy Trading: Unlike some competitors, Bilaxy doesn't offer the ability to replicate successful traders' strategies.
- Limited Passive Income: There are no staking or yield farming options directly on the platform.
- Referral Program: The only passive income option is through the referral program, where users can earn a percentage of their referrals' trading fees.
TradingFinder Writer's Opinion and Conclusion
Bilaxy offers 1000 trading pairs, $1 minimum deposit and 0.1% fees for “BIA” holders. But beyond these, no copy trading, no futures and no leverage trading is available in Bilaxy Exchange.
