Is Bilaxy a Good Crypto Exchange for Beginners?
It is important for novice cryptocurrency traders to choose the right crypto exchange. Not all companies can be used when you are just starting your path in trading, which is why the success in cryptocurrency trading depends on making the right choice. Beginners often wonder whether Bilaxy is a good crypto exchange to start trading with. In this article you will learn whether Bilaxy is good for beginners, what its pros and cons are and what a novice trader needs to know.
Short summary about the broker Bilaxy
The Bilaxy exchange is a cryptocurrency trading service. You can trade Bitcoin, Ethereum, Litecoin, FXT Token, DRK Chain, Moonpot (BEP20), as well as over 300 altcoins and tokens on the platform. There are no fiat funds, only crypto-to-crypto pairs. They use the TradingView desktop trading terminal and an application for mobile trading based on the TradingView model. The app comes in versions for iOS and Android. There are no investment solutions, demo accounts, or training. There is no minimum deposit, and registration and verification are standard. Of the additional earning options, there is only a one-level referral program. Fixed commissions are 0.2% for taker and maker. However, if an exchange token (BIA) is used to pay off the commission, the commission is reduced to 0.1%.
| 💰 Account currency: | Cryptocurrencies and tokens |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:1 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies and tokens |
| 💹 Margin Call / Stop Out: | No |
Bilaxy Pros and Cons
👍 Advantages of trading with Bilaxy:
•Very simple and convenient trading terminal (this is also true for its mobile application);
•Bitcoin, hundreds of the most popular and demanded altcoins and coins are traded on the exchange;
•no restrictions on trading strategies, no minimum deposit, no withdrawal limits;
•low fixed commissions, which can be further reduced due to rebates from the Traders Union;
•BIA exchange token has large trading volumes and can be used to gain trading advantages;
•advantageous referral program, through which you can receive up to 40% of the commissions of invited users.
👎 Disadvantages of Bilaxy:
•there are no investment solutions or passive earnings options on the exchange, except for the referral program;
•the exchange does not provide demo accounts or training guides;
•there is no call center for prompt communication with technical support.
What is a Good Crypto Exchange for Beginners?
In order to choose the right broker for a beginner, you need to consider several aspects.
Here are the main ones:
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Education. It is important for novice crypto traders to learn how to trade. An exchange can offer educational courses, video tutorials, articles, webinars, etc. The more learning opportunities there are the better.
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Availability of a demo account. You will need this account to practice. It provides an opportunity for a beginner to trade risk free and try out trading strategies.
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Availability of a simple method to buy cryptocurrencies. An exchange service or a P2P exchange would be an advantage for an exchange.
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Low fees. The level of income of the trader depends on the level of the fees. Therefore, it is important to choose a company that charges minimum fees. Crypto exchanges mostly use the Maker and Taker fee model. It is important that you study them.
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Instruments for passive investing. In addition to active trading, passive income is also important for beginners. Pay attention to availability of copy trading or staking.
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Trading platform. It is important for a novice trader to choose the simplest trading platform that will be easy-to-use for trading.
In addition to these factors, you also need to consider how customer support operates, as it will also be important. Bonuses for beginners are also a nice perk.
Trading Conditions for Bilaxy Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. Bilaxy offers traders the following conditions.
| 💻 Trading platform: | TradingView browser and mobile apps |
| 📊 Accounts: | Standard |
| 💰 Account currency: | Cryptocurrencies and tokens |
| 💵 Replenishment / Withdrawal: | Bank cards and accounts, electronic and cryptocurrency wallets |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | from 0 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies and tokens |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | N/A |
| ⭐ Trading features: | Lots of cryptocurrencies and tokens, no fiats, simple and convenient trading terminal, profitable referral program, no investment decisions and solutions for beginners |
| 🎁 Contests and bonuses: | Yes |
Commissions and Fees
The size of commissions and fees is also an important factor of choice. Traders Union analysts have prepared a short review of Bilaxy commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.
One of the main advantages of the Bilaxy crypto exchange is its low, fixed trading fees. Usually, 0.2% is charged for each transaction.
The amount of the commission does not depend on the trading volume and most other factors. It can be reduced in only two ways. The first way was described a little earlier, which is rebates from Traders Union. The second way is to purchase a BIA token. This token can be used to cover trading fees. You have the opportunity to reduce the amount of the commission using a BIA token after receiving a 50% discount. That is, if you use BIA, the fee is not 0.2%, but 0.1%.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | up to 0.2% per order | Yes |
Investment programs of Bilaxy
It is important for novice traders not only to trade actively, but also earn passive income. Passive investing can help you earn extra profit, and also compensate for the losses you may incur as a result of active trading. Bilaxy offers the following passive income options.
Investment Programs, Available Markets, and Products of the Crypto Exchange
The Bilaxy crypto exchange does not offer investment solutions. There are no staking, crypto mining, or other popular options on this platform that allow users to passively earn income. The exchange is designed for active trading. The only way to earn extra money is through the referral program.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.
Bilaxy’s affiliate program:
The Bilaxy crypto exchange offers a single-tier referral program. Any user who has registered with the platform and verified (confirmed personal data) can take part in it. No additional action is required, just go to the “Referral Bonus” section, where a personal referral link will be available.
The referral link can be placed on any site without restrictions. Each user who registers and verifies with the exchange, following your link, becomes your referral (partner). The referral brings you a profit equal to a fixed percentage of commissions on all of your partner’s trades, and it doesn’t matter if he uses BIA to get a discount.
You can receive from 10% to 40% of the commission fee of each referral. The indicator depends on two factors: how many referrals you have and what the partner’s trading activity is. The more partners you have and the more trading activity they generate, the greater your profits are. Please note that there is no limit on the number of referrals. You can invite an unlimited number of users to the platform, they become your partners without the limit in time. That is, they will bring you profit for as long as they trade on the platform.
Note: Because the program is single-level, You will not receive profit from commissions of users who were invited to the platform by your partners.
Conclusion. Is Bilaxy good for beginners?
The Bilaxy cryptocurrency exchange will be an excellent choice for beginners. The exchange offers a convenient trading platform, which a beginner can learn to work with rather quickly. There is an excellent education center with a large number of materials for novice traders. Also, traders can earn passive income on good conditions. Therefore, Bilaxy could be considered as a good cryptocurrency exchange for a start.
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FAQ
What do I need to know about the fees charged by cryptocurrency exchanges?
The majority of cryptocurrency exchanges use the Maker/Taker fee model. As a rule, they use a multi-level system for traders that depends on the trading volume. The higher the trader’s trading volume, the lower the fees.
How do I choose a reliable cryptocurrency exchange?
Crypto exchanges mostly operate without licenses, as the majority of countries haven’t adopted legislation to regulate them. In order to choose a reliable exchange, you need to find out about its reputation and read the reviews about user experiences with it.
How many cryptocurrencies could a crypto exchange offer?
The number of cryptocurrencies on the listing of a cryptocurrency exchange may be very different. Some platforms offer less than 10, while others – several hundreds. It is important that you check the choice of cryptocurrency before registering on the exchange.
What are the risks of investing in cryptocurrencies?
Investing in cryptocurrencies carry high risks due to their high volatility. It could cause substantial losses, which is why it is important to observe the rules of risk management.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.