Bilaxy – cryptocurrency exchange from Seychelles
Bilaxy is a well-known cryptocurrency exchange that competes with other trading platforms such as Square, PayPal, Stripe, Afterpay, and Coinbase.
This is a centralized cryptocurrency exchange launched in 2018. Its declared volume is about $ 98-105 million. The exchange is available in both English and Chinese versions. Bilaxy has 157 available trading pairs and 134 coins. The exchange provides the ability to trade several different altcoins against ETH. Traders will not find fiat currency trading, nor is there any trade against BTC.
0.15% is charged on all transactions. Further, the transaction amounts are distributed as follows:
- ETH trading pair: the minimum order size is 0.01 ETH or the equivalent of 0.01 ETH.
- USDT Trading Pair: The minimum order size is 10USDT or the equivalent of 10USDT.
- BTC Trading Pair: Minimum order size is 0.0003 BTC or equivalent.
Withdrawal fees are regularly adjusted in accordance with the blockchain conditions.
Investors can check the withdrawal fee or minimum withdrawal amount on the exact token / coin withdrawal page. Withdrawal fees are deducted from the withdrawal amount.
Since the blockchain asset has large price fluctuations in the short term, Bilaxy reserves the right to change the withdrawal fee according to the current token price and the situation in the blockchain. Typically, the exact tokens debited as a withdrawal fee will be updated weekly.
Although Bilaxy is a centralized exchange, it is unique in that it allows users to self-list new cryptocurrencies.
The fact that there are so many completely different unknown altcoins on the Bilaxy list really looks like a hallmark of this exchange and part of its purpose.
Just months after the creation of Bilaxy (October 2018 to be precise), the platform recorded a daily trading volume of $ 4.3 million, placing it among the top 100 exchanges on the crypto market by daily trading volume.
A year after its inception, Bilaxy’s liquidity plummeted, recording a daily trading volume of $ 3 million, bringing Bilaxy out of the top 100 exchanges on the crypto market in terms of daily trading volume.
However, on March 30, 2020, something incredible happened, in the midst of the COVID-19 pandemic, Bilaxy recorded a daily trading volume of $ 2.6 billion, taking the 3rd position on the list of the best exchanges on the crypto market in terms of daily trading volume. Only MXC and Finance surpassed Bilaxy in daily trading volume that day.