November 23, 2020 |James Messi
As the native utility token for Beaxy Exchange, BXY is designed to fuel the Beaxy ecosystem and give our community back a piece of all the transaction value they are generating on a daily basis. Read below for some exciting news on how utilizing this token can inject some serious value to your trading game.
Pay with BXY
BXY is an ERC20 token which is presently listed only on Beaxy Exchange in several pairs to include BXY-BTC and BXY-USDC. As our new fiat currency options come online, new pairs will be added for those global fiat currencies so that users around the globe can more easily transact with their native currency into Beaxy’s unique platform. There are several key ways Beaxians can use BXY to their advantage. Let’s start with the newest one and work from there.
Any time you make a trade on an exchange, the exchange will take a percentage of each trade as a service fee for maintaining the market and ensuring orders can be met. That fee is normally taken in the base currency of a given pair. Beaxy is changing that norm. From now on the default currency from which your fees will be deducted is your BXY wallet. Better still – with no strings attached – if you have BXY in your wallet to cover your trading fees, you will enjoy a 5% discount on each and every trade. This discount applies to all users regardless of volume generated or amount of BXY held on the exchange.
Escalating Discounts and Benefits
So a 5% discount is money in your pocket, especially when considering all those small trades that create big wins across crypto markets. But the value of BXY does not cease there. As the amount of BXY a user holds on the platform increases, so does their discount percentage and their daily withdrawal limits. Take a look at the table below for more information.
One of the standout benefits afforded by this program is that there are no volume requirements to get into tier 1 where a user enjoys a 10% discount on all trading fees when paying with BXY. As a user climbs to higher tier levels, they qualify for a lower base rate trading fee in addition to a higher percentage discount when paying trading fees with BXY. So at tier 2, a user who pays with BXY enjoys fees of 0.085% on maker orders and 0.125% on taker orders. While it’s probably true that there is no such thing as a free lunch in life, this is our equivalent of free drinks in Vegas.
STK – Premier Loyalty Rewards that Deliver for Pay with Beaxy
The question eventually arising from a savvy trader on Beaxy is what to do with excess BXY tokens when one has more than could ever be used for trading fees or tier qualification (STK amounts don’t count toward tier balance requirements). STK is a loyalty program that rewards users for keeping their extra BXY tokens.
Featuring fully customizable amounts and timeframes, STK allows users to earn a percentage of their BXY tokens as a reward for every month that the tokens stay locked on the Exchange. Users can earn as high as 12% APR on their locked token amount when they choose to lock for 12 months. If the appetite is not for something quite as long term, no problem. Pick any number of months between one and 12 to earn a corresponding rate of return (i.e. 1% APR on one month, 7% on seven months).
The best part about this program is your BXY rewards are distributed monthly as a portion of your overall APR while the tokens are locked. So you can lock away your golden egg’s worth of BXY and have it earn a chunk of BXY that is sent to your exchange wallet every month to pay your discounted fees. STK is not quite on par with a gifted Thanksgiving Turkey – but think of it more like keeping the turkey alive, having it lay eggs, and using the eggs to pay the turkey breeder for more turkeys at rock bottom rates.
Buy and Sell BXY on Beaxy Exchange
Beaxy Exchange offers a safe, easy, and compliant platform for investors and network participants to buy, sell, or trade more than 30 cryptocurrency pairs including the BXY token.
Visit Beaxy.com to create your free account in minutes and access the BXY-BTC and BXY-USDC trading pairs. Need help with technical analysis? Beaxy provides exclusive access to sophisticated artificial intelligence that lets you pick from different charting patterns that automatically overlay institutional-grade analysis onto your chart.
To top it all off, for a limited time, Beaxy is rebating high-volume traders in advance with a deposit match bonus. Beaxy Exchange will match every dollar that is deposited up to $500 so that you can trade with your fee rebate. Once you’ve generated 1.5x the amount of your bonus in fees, ~$350,000 within the first 6 months of trading, you can withdraw the bonus and recoup 66% of what you spent on fees. Learn more.