What is Bilaxy floor?
Bilaxy is a centralized cryptocurrency exchange (CEX) launched on the market in April 2018 and is registered in the Republic of Seychelles. The most outstanding feature of Bilaxy is the very fast token listing even though it is not in the development roadmap of the project that created that token. For example, during PERLIN, Bilaxy listed before Binance.
Bilaxy exchange is providing users with more than 100 coin pairs to trade, including big coins like Bitcoin, Ethereum, and most of the rest are small coins (junk coins) that traders love. Bilaxy once claimed to have hundreds of traders from more than 80 countries around the world
Bilaxy floor review
- Support Multiple Tokens and Coins: Currently, Bilaxy is supporting more than 100 trading pairs, full of popular coins and even “microcoins” that other exchanges do not list.
- Listing speed: Bilaxy exchange has a fast coin listing speed compared to some other exchanges.
- Having its own exchange coin: Bilaxy has released its BIA coin.
- Free recharge: Users do not have to pay fees when loading any coins into Bilaxy.
- Good security: Bilaxy floor also supports users with 3 security features: 2FA, phone number verification and trading password.
- App development: There are mobile applications on both Android and iOS operating systems.
- Fast deposit and withdrawal speed: It only takes about 10 minutes for deposit or withdrawal.
- simple and easy to use: Bilaxy is quite easy to use for new users, it doesn’t have many complicated features.
- 24/7 customer support: You can get support from Bilaxy via Telegram, Email, stickers,..
- The company and team behind it remain anonymous.
- No margin trading.
- Does not support Vietnamese (only English and Chinese).
- Bilaxy only supports coin and coin transactions, does not support coin transactions with Fiat (such as VND, USD).
- Liquidity is still low.
- There is no stop loss order.
Fees on Bilaxy floor
Bilaxy uses maker and taker fee mechanism with the formula (quantity * purchase price * 0.0015).
The fee charged for both maker and taker is 0.15%. In there:
- *Maker: When you place a buy or sell order without immediate execution, meaning that the price is higher than the floor price when selling and lower than when buying, your order will be displayed on the “Order Book” section, it will be Maker.
- *Taker: On the contrary, when you place a buy/sell order to match immediately, it means you place the order equal to or greater than the floor price when buying, lower than the floor price when selling.
As shared above, if you use BIA (Bilaxy exchange token) to discount transaction fees, you will receive a 50% reduction (first year and will not be reduced until the 5th year) transaction fees ie transaction fees translation will be 0.075%, cheaper than the general level but still higher than Huobi transaction fee is only 0.07% if using HT.
At the present time, when making a deposit (Deposit Fee), on Bilaxy, users are completely free.
Withdrawal Fee (Withdrawal Fee) will be deducted from your withdrawal amount, depending on the coin you withdraw and adjusted for blockchain conditions. So Bilaxy is allowed to modify the withdrawal fee according to current token price and block network situation, can increase or decrease, not fixed
Introduction of Bilaxy floor interface
At the main interface of Bilaxy, there are:
 Home: Bilaxy’s homepage.
 Exchange: A place for you to trade.
 App: Notice about Bilaxy application on phone.
 Funds: A place for you to check your balance, Deposit and withdraw money.
 Order: Where you see your order history as well as open orders.
 Referral Bonus: Bilaxy’s User Referral Program.
 Self-Service Listing: A place to simplify the token listing process for the project.
 Support: Bilaxy customer support.
 Log in – Log in.
 Sign up – Registration.
Instructions to register for an account on Bilaxy
Preparation before registering Bilaxy
- Email Account.
- Some personal papers such as ID card, CCCD, license, passport…
- The phone comes pre-installed with the Google Authenticator app (or Authy is fine).
Step 1: Register for a trading account on Bilaxy
To register for Bilaxy, please visit: https://bilaxy.com/
Press the button Sign up in the right corner of the screen to register.
Here I will register by email:
- Import mailing address.
- Password and confirm Password. In order to avoid password confusion, the system requires you to re-enter it again correctly and compatible with the password set up above.
- Verification code sent by email.
- Referrer (optional): Referrer ID (optional).
In the “Referral ID (Optional)” can be omitted without referrer registration code. Next, you tick the box “I agree the..”. Finally choose “Create account” to continue.
Step 2: Identity Verification – KYC
First, you need to know what KYC is, KYC (Know Your Customer) is the process of collecting identifying information related to customers of a certain service. The basic information that is usually collected is a portrait photo, identity card number, passport, address, etc.
The purpose of the KYC process is to remove unqualified people from using a service. With different units, these standards may be different.
At Bilaxy floor, as soon as you log in, enter your full name in the “Name” and the ID number you want to enter the “ID Nofor example: Identity card, driver’s license, passport.
To be able to withdraw your cryptocurrency, you need to choose “KYC2 Authentication”.
You will follow the instructions:
- Upload certificate: ID Card (ID card), Passport (front, back side).
- Provide a photo with you, the registered document attached is a paper form with the words “Bilaxy” and registration date.
- Once provided, select Submit.
Step 3: Enable 2-step security 2FA
Activating the two-factor security code (2FA) will help increase the security of your account. This code will be used every time for account login, withdrawal, API creation, etc. and can freely switch to SMS verification mode (reverse).
Choose Account in the right corner of the page, then select Google Authentication.
To activate 2FA for your Bilaxy account, follow these steps:
Step 1: Get the app “Google Authenticator” from Google Play for Android platform or Appstore for iOS platform.
Step 2: You scan the QR code of the scanner at the downloaded application or enter the key code manually.
Step 3: there is a piece of this code to Backup in case of loss of Authenticator → You should save this code carefully on paper, in case you lose your phone or malfunction later, you can still restore it and save it. Log in to your Hotbit account.
Step 4: Enter the following information:
- Login Password: Enter the login password.
- Email verify code: Click on “Send” and then go to the email to get the code to enter next to it.
- Google Authentication: Enter the 2FA code.
- Finally choose “Enable Google Authentication“It’s done.
Step 4: Set a secure password (Security Password)
Secure password is the password to activate the transaction of withdrawal on your account.
Choose Account in the right corner of the page, then select Security Password.
You enter the password, confirm the password and the confirmation code (sent via your email).
Instructions for depositing and withdrawing money at Bilaxy
Currently, Bilaxy exchange is supporting users with 3 main trading markets: Bitcoin (BTC), Ethereum (ETH) and USDT (Tether).
Step 1: Choose “Funds” on the menu bar and select “Deposit“.
Step 2: Below the “Select Deposit Coin” you click on it and select the coin you want to top up. Here I choose USDT.
Then get the wallet address to top up. This step you can top up by buying USDT, BTC or ETH in VND at Binance or Remitano. Then switch from those 2 floors to Bilaxy floor.
Note: You guys pay attention to choose the network you want to transfer correctly. Bilaxy is supporting ERC20 (Ethereum) and TRC20 (Tron) networks.
Similar to depositing, to withdraw money, click Widthdraw and then enter the wallet address to withdraw money.
However, the withdrawal step requires up to 3 additional security factors:
- Your safe password.
- Confirmation code on email.
- Verification code on the phone.
Instructions for trading on Bilaxy
Step 1: Making transactions of Bilaxy exchange is quite simple. Right at the horizontal Menu bar, select “Exchange“.
- : includes basic information (price changes in 24h, highest / lowest price,…).
- : Orders to buy and sell other people are placing.
- : Price movement chart.
- : Where to choose markets and trading coins.
- : Where you place buy and sell orders.
- : All buy and sell orders have been matched on the floor.
Step 2: In item 4, you select the market “USDT”, then enter the symbol of the coin you want to buy and sell on the search field.
Step 3: Go to item 5 to start entering orders. You choose “BUY” to buy Coin or “SELL” to sell Coin.
For example, here I buy BTC.
- USDT Balance: USDT balance you have.
- Price: Enter the BTC price you want to buy.
- Amount: The amount of BTC you want to buy or click on 25%, 50%, 75% and 100% below to buy according to %/total USDT available.
- Cost: The total amount of USDT you have to pay to buy the above BTC.
- Finally choose “Buy BTC“.
Step 4: Enter your trading password and select “Confirm“.
Do the same if you want to Sell BTC.
Frequently asked questions when trading coins on Bilaxy
Is identity verification required at Bilaxy floor?
If you don’t verify your identity, you can only trade 1 BTC/day. However, if you verify it twice, you can make transactions up to 300 BTC/day.
Is Bilaxy hacked or often suffers from maintenance failures?
What is Bilaxy exchange, it can be seen that the floor up to this point is quite safe. However, the cryptocurrency exchanges on the market are still the main targets for hacker attacks. Therefore, it is impossible for the Bilaxy exchange to be attacked in the future.
For the problem of Bilaxy exchange not being able to perform transactions, having errors and not being able to withdraw money or not performing login and registration are possible errors. However, the floor will process quickly within 24 hours, so you do not need to worry too much.
What is Bilaxy exchange coin?
BIA token is a private token of Bilaxy exchange developed on the ecosystem ERC-20 of Ethereum. BIA tokens are issued for the purpose of maintaining and developing the platform of Bilaxy. There is currently a total supply of 2,000,000,000 BIA.
The basic features of BIA are similar to other exchange coins such as BNB by Binance, HT by Huobi or Bibox’s BIX. For example, when trading with BIA, you will receive a reduced fee.
So, Techtipsnreview has introduced you to Bilaxy exchange and trading instructions on Bilaxy, if you have any questions or problems during use, please comment below for immediate support. ! The cryptocurrency market is quite risky, so consider carefully before making your investment decisions.
Don’t forget to subscribe and join Techtipsnreview Insights groups and channels below to discuss with admins and many other community members.
Source: What is Bilaxy floor? Bilaxy Flooring Reviews & Manuals (2022)