The Ultimate Guide To Funding Your Beaxy Trading Account

May 26, 2021 | 

Beaxy Exchange has partnered with custody providers, banks, and payment processors to give traders the ability to securely fund their accounts in whichever way works best for them.

This guide will provide you with detailed instructions and tips to help you navigate each funding method that is offered on the Beaxy Exchange web-based on mobile trading platfroms. Follow below to learn more about funding your account with cryptocurrency, fiat currency, credit cards, gift cards, and more!

Funding Your Account With Cryptocurrency

Beaxy currently has 29 digital assets available on our trading platform. You can fund your account by sending any of the available assets to the corresponding wallet address in your account.

To Fund your Beaxy account with cryptocurrency, go to the Deposit Crypto tab in the My Account section of the platform. Here, you can select the specific asset that you want to deposit and find the wallet address that your funds should be sent to.

In the example image below, we have selected Bitcoin (BTC). In this case, enter the wallet address that is displayed in your account into the receiver address field that is located in the wallet application that you are sending BTC from.

Every cryptocurrency wallet application is different. Generally, you can submit your deposit from your external wallet once you have entered the address from your Beaxy account as well as the amount of BTC that you want to send. Some wallet providers may ask you to select a fee type to determine how fast your transaction will be completed.

To make the process easier when sending funds from a mobile device, click on Scan QR code. This will generate a QR code image that contains your wallet address. Simply scan the code within the wallet provider’s application on your mobile device, enter the amount of BTC you want to send, and submit the translation to the blockchain.

The Ultimate Guide To Funding Your Beaxy Trading Account

It’s important to always confirm and reconfirm that you are sending the correct asset to the address you want to fund. For example, if you mistakenly send Bitcoin Cash (BCH) to the Bitcoin (BTC) address in your wallet, you risk losing your funds. Additionally, always double-check to make sure that the wallet address that you entered into your external wallet exactly matches the address that is displayed in your Beaxy account.

Please note that the time it takes for your deposited cryptocurrency to become available in your Beaxy account will vary based on the blockchain you are using and the demand for transactions at that time.

The cryptocurrencies available on Beaxy include:

BXY, BTC, USDT, USDC, XRP, DRGN, ETH, BSV, ZRX, LTC, BCH, DASH, ALEPH, GUNTHY, WAVES, ICX, LINK, ZEC, BAT, BEAM, ETC, GO, AION, HIVE, XSN, EOS, NEO, WGR, XMR.

Fiat Currency Wire Transfers

Fund your Beaxy account with USD, EUR, GBP, JPY, CAD, and AUD by completing a wire transfer from your bank account to your Beaxy account.

Wire transfers are one of the fastest ways to transfer and settle funds that can be used to buy, sell, or trade cryptocurrencies. Compared to ACH transfers which generally take up to 7 days to settle, wire transfers are settled in 24 to 48 hours.

Before initiating a wire transfer to fund your Beaxy account, you’ll need to verify your account with our banking partner, Prime Trust. Click here and then click Deposit Fiat to verify your account with Prime Trust. When your account has been verified for fiat currency transfers, your status will change to ‘passed’ on the platform and you will receive an email confirmation.

Once you’ve completed verification, initiate your wire transfer by clicking on the Deposit Fiat tab in the My Account section of the platform. On this page, select the fiat currency that you want fund your Beaxy account with. Here, you will find the details of the bank account that your wire needs to be sent to. Please note that each fiat currency may have its own bank details. Ensure that the information given to your bank matched the details for the specific fiat currency that you are depositing.

To complete your transfer, forward the banking details provided in your Beaxy account to your bank along with the amount you wish to transfer. The funds sent to Beaxy will typically need 24 to 48 hours to become available in your account.

The methods available for sending wire transfers will vary based on the bank you use. Common methods of sending wire transfers include:

  • Going to a branch location and filling out a wire transfer form.
  • Calling your bank and providing the necessary details.
  • Using your banks online or mobile transfer portal.

Follow this guide for more information about sending a wire transfer from the most popular U.S. banks.

Through Prime Trust, your fiat currency holdings on Beaxy are backed by FDIC insurance for up to $250,000.

Trading support for GBP, JPY, AUD, and CAD are coming soon to Beaxy.

Convenient Payment Options

Beaxy Exchange has partnered with Ramp Network, Simplex, and Paxful to offer a wide array of convenient payment options that enable you to purchase cryptocurrency with credit cards, debit cards, Apple Pay, gift cards, and more. When you use Ramp, Simplex, or Paxful to buy cryptocurrency, is it added directly to the corresponding wallet in your Beaxy account. Follow along to learn more about these payment options.

The Ultimate Guide To Funding Your Beaxy Trading Account

Ramp Network

Ramp Network is a decentralized cryptocurrency platform that connects buyers and sellers with market makers to enable instant purchases with credit cards, bank transfers, Apple Pay, SEPA, and more.

Ramp Network has low fee purchase options (0.49% SEPA fees) and a seamless buying experience. Check out this video to see how easy it is.

Select Ramp in the Buy Crypto section of the platform to fund your account with bitcoin (BTC, ethereum (ETH), or Tether (USDT).

Simplex

Beaxy partnered with Simplex to provide convenient purchases with all major credit and debit cards. Fund your account with bitcoin, ethereum, or tether when you choose Simplex as your payment method.

Simplex accepts credit and debit card payments with 19 fiat currencies listed below. To avoid international transaction fees, ensure that you select the fiat currency that matches your credit or debit card.

USD, EUR, GBP, ILS, TRY, CAD, CHF, KRW, JPY, RUB, AUD, CZK, NOK, DKK, NZD, SEK, ZAR, HUF, and PLN

Paxful

Paxful is a peer-to-peer cryptocurrency platform that connects you to independent vendors to enable bitcoin purchases with more than 350 payment methods!

The 12,000+ vendors that sell bitcoin on the Paxful network accept a wide variety of options for converting BTC to USD or vice versa, including:

  • Credit and Debit Cards
  • ACH Transfer
  • SEPA Transfer
  • Gift Cards
  • ApplePay
  • Google Pay
  • PayPal
  • Venmo
  • Zelle Pay
  • Digital Assets
  • Cash
  • Gold
  • Goods & Services

Click here to get started with Paxful.

Fund Your Account Today

Purchasing digital assets with a credit or debit card has never been easier. Click below to create your free account today. Beaxy traders pass KYC in five minutes or less on average.

Once your account is verified, fund it with:

  • 29 top cryptocurrencies by market capitalization.
  • Major credit and debit cards
  • Fiat currencies (USD, EUR, GBP, JPY, AUD, CAD)
  • Apple Pay

And, more!
 

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