Beaxy Successfully Opens Crypto Trading Platform for 43 States and 184 Other Countries
Deemed an all-in-one cryptocurrency exchange, Beaxy, has officially launched as per recent tweet dated, June 10, 2019.
As seen below, the crypto exchange has now opened its doors to investors, as they’ve, “reopened registrations,” not to mention the activation of their KYC provider and tokens.
ANNOUNCEMENT: The launch has begun! Beaxy has re-opened registrations, activated our new KYC provider, & distributed tokens to investors! This is the first of four steps. The next is deposits, which begins in the next few days. After deposits, traders can begin placing orders.
— Beaxy (@BeaxyExchange) June 10, 2019
Since its launch, people have been commenting on its overall ease. For example, Twitter user, Doc Brown (@Back2Crypto) tweeted that the exchange was looking “amazing”, adding that its “coin ticker is great.”
Beaxy and OneMarketData Form an Alliance
News outlet, Coin Telegraph has been able to communicate with a Beaxy representative who disclosed that this endeavor entails different specs. In particular, Beaxy supposedly formed an alliance with OneMarketData that supports trading nine distinctive order types with increased speeds of “225,000/s per trading pair.”
Hamazaspyan was also quoted by Finance Magnates, where the former spoke of the OneMarketData’s partnership and what was its end-result. More specifically, the partnership led to the use of the latter’s ‘OneTick technology,’ which has allegedly contributed to Beaxy’s ongoing success. Here’s was the Beaxy CEO had to say:
“OneTick technology has yielded impressive results, out-performing most engines in traditional financial markets and the crypto markets. We’re looking forward to providing every trader out there a one-stop shop solution that will significantly erase barriers to alternative asset adoption.”
OneMarketData’s Global Head of Sales, Ross Dubin, shared the reason for choosing Beaxy as a partner, was merely due to their passion and ambition to establish themselves as a “top of the line cryptocurrency exchange.”
Experiences with Hacks and Scams
Coin Telegraph also mentioned the May 22 Beaxy hack, to which the CEO, Artak Hamazaspyan, was referenced saying that crucial information was not compromised, i.e. KYC, code, funds, etc. As per the claims made, this was the first of its likes and the CEO believes that this won’t be the last.
Details regarding the effects of the hack were also shared by the CEO, who trusts that said events promote growth for the platform, as more is done in terms of security. He said:
“The incident we experienced was a SIM attack on a team member involving a fake ID and social engineering […] Our individual security practices have improved across the company as a result.”
Possible Crypto Futures Product’ Offerings
According to The Block Crypto, the crypto exchange platform provider will be working on lots more than simply token exchanges – indicating Beaxy’s involvement in crypto futures products.
The company is supposedly in the works of getting the necessary paperwork straightened out for the U.S Commodity Futures Trading Commission (CFTC) – primarily for margin trading and futures licenses.
Beaxy’s Competitive Advantage
When it comes to Beaxy’s competitive advantage, it seems like Hamazaspyan is quite confident with where the exchange is headed. He heavily mentions the fact that the embedded tool, i.e. from OneMarketData, is one that has gained appraisal from the government. As per his quotes:
“We have this market standard surveillance tool which is approved by the government […] When we talked to government regulators, they like it that we use tools from [OneMarketData] because they know each other. They have worked for decades together.”