February 03, 2021 |James Messi
Beaxy Exchange offers its clients a wide variety of convenient options for converting cryptocurrency into fiat currency and vice versa. Beaxy Exchange traders can fund their accounts with dozens of cryptocurrencies, multiple fiat currencies, and major credit and debit cards. Visit Beaxy.com today to create your account and increase your access to global currency markets.
Two-Way Fiat Options: BTC to USD
Clients of Beaxy Exchange use wire transfers as their primary on and off-ramp between cryptocurrencies and fiat currencies. Clearing in 24 to 48 hours, wire transfers provide for fast transaction settlements versus the 3-5 business days required to complete most ACH transfers.
To start using fiat currency on Beaxy Exchange, begin by navigating to the Deposit Fiat tab in your account. You will be prompted to submit some basic pieces of information to verify your account with our U.S. trust partner, Prime Trust.
Once your account is verified you can begin using the fiat on and off-ramps on Beaxy. To convert fiat to cryptocurrency, you’ll first need to have a fiat balance in your account. You can add USD to your account by selling Bitcoin (BTC), Ethereum (ETH), Dragonchain (DRGN), or BitcoinSV (BSV) on their respective USD trading pair. Or, you can fund your account with USD by sending a wire from your bank account.
Curious about how to wire funds from your bank? Check out this guide with instructions for sending wire transfers from each major U.S. bank.
To cash out, send your fiat currency back to your bank account by going to the Withdraw Fiat tab in your account. Enter the wire instructions for your bank and your account along with the amount of fiat you’d like to withdraw. Click Request Withdrawal to initiate your transfer.
Two-Way Fiat Options: International Currencies
Stay tuned for one of the largest expansions in retail fiat currency options offered by any cryptocurrency exchange. In 2021, Beaxy will implement support for deposits, withdrawals, and cryptocurrency trading pairs with:
Access to these global fiat currencies and trading pairs will be offered to all Beaxy Exchange clients.
Converting Fiat to Cryptocurrency with Credit and Debit Cards
Convert more than a dozen fiat currencies into Bitcoin, Ethereum, or Tether in minutes when you make a purchase with a credit or debit card. Our card processing partner Simplex provides convenient access to cryptocurrencies when you use a major credit or debit. To get started, click on the Buy Crypto tab in your account. From there, you can specify which of the 19 global currencies listed below that you would like to convert to cryptocurrency.
See the below example of a USD to BTC transaction for $1,000.
Once you’ve entered your desired fiat currency and the amount you’d like to send. Click Go to payment to enter the details on your credit or debit card and complete the purchase.
Use any of the global fiat currencies listed below to make quick and convenient crypto purchases while avoiding high international transaction fees.
USD, EUR, GBP, ILS, TRY, CAD, CHF, KRW, JPY, RUB, AUD, CZK, NOK, DKK, NZD, SEK, ZAR, HUF, and PLN.
Trading with Stablecoins
If you are unable to access fiat currency pairs or have a preference for crypto-crypto transactions, stablecoins are the next best thing. Beaxy Exchange supports deposits, withdrawals, and trading with USD Coin (USDC) and Tether (USDT).
Stablecoins like USDC and USDT maintain a parity in value with the United States Dollar. This provides traders with the option to tie their portfolio’s value to that of the USD without actually using fiat currency.
Stablecoins have some outright advantages over traditional fiat currencies. For instance, transferring a stablecoin like USDC or USDT can take as little as a few minutes. These transactions also typically incur less than $1 in fees. For most participating in the financial revolution that is cryptocurrency, stablecoins are a go-to choice for any instance where fiat currency is not required.
Beaxy Exchange’s suite of stablecoin trading pairs includes:
Access Beaxy’s BTC to USD Trading Pair Today
Trading in and out of fiat currency has never been easier. Get started by creating your free account at Beaxy.com. Sign up today to buy, sell, or trade USD on a secure, compliant exchange.
On average, Beaxy Exchange registrants pass KYC in five minutes or less. The cryptocurrency that you hold on Beaxy is secured by Curv custody, and your fiat currency holdings are backed by FDIC insurance up to $250,000.
Creating an account on Beaxy Exchange gives you access to:
- Double your stack when you opt-in to the Deposit Bonus program
- Buy, sell, or trade dozens of popular cryptocurrencies
- Access revolutionary trading tools like Trender and Signals
- Become an algorithmic trader with Gunbot, Hummingbot, Autonio, and more
- Download the Beaxy Exchange mobile app for iOS and Android.