Bilaxy is this a scam? Review and Customers Reviews

Bilaxy – marketplace for cryptocurrency trading which appeared on the financial market in April 2018. During this period, the platform has gained popularity among clients around the world and continues to actively develop.

In our review, we will analyze in more detail the opportunities that the project offers to its customers and find out whether Bilaxy is a scam or a reliable exchange for trading digital assets.

 

Why Bilaxy?

Bilaxi – a young exchange, which began its activities less than two years ago. Although the project is aimed at customers around the world, the interface of the site bilaxy.com is not russified and is presented only in English and Chinese. The headquarters of the company is located in the Seychelles, where the regulation of the exchange. It should be noted that the exact address of the head office is not specified on the official website.

At the moment the trading platform offers clients to work with more than 150 types of cryptocurrencies. The main cryptocurrency is Ethereum, because it is present in most of the trading pairs (How to Make Money on Cryptocurrency?). Trading on the site is done through the USDT, BTC, ETH and BNB markets. The exchange also has its own token called BIA, which was created on the ERC20 platform. The token is paid to customers in the form of bonuses for various activities on the exchange. For example, a user gets 20 coins for completing registration and 80 coins for completing verification. Tokens can also be earned through a referral program.

The interface of the terminal is intuitive for both experienced traders and beginners. A new user will be able to understand the basic functionality of the platform in 15-20 minutes after registration.

Users have access to the following functionality:

• In the center of the page there is a graph that is updated in real time;
• On the left side there is the stack of orders of other traders, which allows you to analyze the selected trading pair;
• on the right you can find a window for selecting a trading asset;
• At the bottom of the page there is a form for filling out the order.

The client is also provided with a large number of different tools to help perform technical analysis of the market. The exchange offers users a limit method of opening an order. This means that buying and selling can be carried out only at the price set by the user. Also on the website one can find a separate section with the latest news of the project, where the trader can read the latest events, as well as the listing of new cryptocurrencies.

To allow users to have constant access to the functionality of the platform and their account, a mobile application was created. Thus, clients can trade at any time and in any place without using a desktop computer or laptop. Both Android and iOS versions are available. Among the main advantages of the platform are:

• a large number of cryptocurrencies;
• fast execution of orders;
• simple and straightforward interface;
• own token;
• Availability of a referral program;
• account security;
• Loyal Commissions;
• large volume of trades.

 

How to exchange cryptocurrency on the bilaxy.com platform?

To exchange cryptocurrencies on the site bilaxy.comThe first thing to do is to go to your profile and go to the “Exchange” page. Next, the client should follow a few simple steps:

• choose a trading pair for the exchange;
• fill out the order by specifying the amount of cryptocurrency to be exchanged;
• click on the “Buy” or “Sell” button depending on the target.

 

Verification on the Bilaxy platform

Verification is not a mandatory process on the exchange, but it is necessary for users who are going to trade large volumes. To perform verification, you must first register on the site bilaxy.com and go to your profile. The identity verification process consists of several steps. First, the user has to enter his name and specify the number of the document confirming the identity. The next step is to upload scans or color photos of documents:

• first page of the identity document;
• the cover of the document proving your identity;
• selfies with the first spread of the document, as well as the inscription “Bilaxy” with the current date.

All data must be valid, otherwise the user’s account will be blocked. The verification process takes from several days to several weeks.

 

Deposit and withdrawal

To make a deposit to your trading account, you must first go to the tab “Funds” and select “Deposits” from the proposed list. Then you should copy the generated address and transfer digital coins from your personal wallet to it. After making a deposit, you can track its progress on the history page.

Withdrawal of earnings

Withdrawal of earnings from the project consists of several stages:

• First, you must also click on the tab “Funds” and go to “Withdrawals”;
• Then you need to activate two-factor authentication or sms confirmation;
• choose the necessary cryptocurrency;
• enter the withdrawal address, address label and security password;
• Press the “Send” button to send the security code to the e-mail;
• select the withdrawal address and amount, enter the password and click “Confirm”.

Cryptoexchange Commission

The exchange has a fairly loyal trading commission. So, for each transaction, the user must pay 0.1% of the transaction amount. The minimum transaction volume is 0.1 ETH or the equivalent amount in another cryptocurrency.

Deposit and withdrawal fees

There is no fee for depositing. For the withdrawal of earnings the commission directly depends on the type of cryptocurrency. For example, the fee for the withdrawal of Ethereum is 0.01 ETH.

 

Bilaxy bonuses

From time to time the company accrues various bonuses and promotions for its clients. At the moment there is one promotion in which clients receive a discount on commission payments using BIA.

Contest

Also the company holds different contests. For example, soon there will be a contest in which the best 80 accounts with the highest PLF trading volume (purchases + sales) in Bilaxy will receive a share in the total amount of 25,000 PLF rewards, proportional to their trading volume. The trading contest will be supported by the PLF fund.

Referral program

For active traders the company provides additional earnings within the affiliate program. In order to receive remuneration, the client needs to attract new participants to the project with his referral link. There is a three-level program on the site:

• referral of the first level – 40% of the amount of commission;
• second level referral – 20% of the commission amount;
• referral of the third level – 10% of the amount of commission.

 

Complaints about Bilaxi

Although the company appeared on the financial market less than two years ago, on the Internet you can already find a considerable number of reviews from clients. In general, the exchange has a positive reputation, although there are negative comments. From the positive sides traders note a large choice of cryptocurrencies for trading, fast processing of the application, a high level of security, the availability of its own token. The disadvantages include the lack of a Russian-language version of the official website, as well as the need to pass verification for comfortable trading.

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Regulation of the Bilaxi crypto exchange

Due to the fact that on the Internet there are not only a large number of bona fide projects, but also a lot of scammers, you should carefully check the license and the necessary documentation on the exchanger’s website. Let’s consider in detail how the project is regulated.

Bilaxy regulator

It is known that monetary transactions conducted within the service are not controlled by external bodies. This fact means that the exchange has no license. Nevertheless, this does not prevent the company from actively developing and gaining popularity. The address of the head office is also hidden. All documentation is in the open access for users.

Documents from bilaxy.com:

• Read the “Safety Tips” on the Exchange website (See);
• Read the “User Agreement” on the Bilaxy website (See).

User Agreement

“User Agreement” – the main document of the project, which contains the rules for trading activities, as well as the obligations of clients and organizers. The agreement must be read by each client before starting its activities on the exchange. The disadvantage is that, like the interface of the official website, the document is presented only in English. Let’s consider some points in more detail.

The agreement specifies information that Bilaxy may from time to time enter into or change the agreement and various rules as necessary, and announce it on the website without any separate notification. The amended agreement and rules shall take effect immediately and automatically upon their announcement on the website. If the customer does not agree with the respective amendment, he should immediately stop using the website. If the user continues to use Bilaxy Service, he is automatically considered to have accepted the amended agreement and rules.

The client accepts and agrees that the company has the right to unilaterally determine whether he has violated any of the above conditions, and in accordance with such unilateral determination to apply the relevant rules and take action on them or stop providing services to the user without his consent or prior notice.

In accordance with the requirements of maintaining order and security of transactions, the organizer has the right to close relevant orders and take other actions in case of any malicious sale, purchase or any other events that violate the normal order of transactions on the market. If a violation has been established by any applicable legal documents issued by judicial or administrative authorities, or Bilaxy determines in its sole discretion that the customer has violated the terms of this agreement, rules or laws and regulations, the company has the right to publish on the platform such alleged violations and actions taken against the customer.

The Company provides its services on an “As Is” and “Commercially Available” basis. Bilaxy disclaims any express or implied warranties regarding Bilaxy Service, including but not limited to applicability, without error or omission, continuity, accuracy, reliability or fitness for a particular purpose. Meanwhile, the organizer disclaims any promise or guarantee as to the effectiveness, accuracy, correctness, reliability, quality, stability, completeness and timeliness of the technologies and information used on the site. The client is fully aware that information about Bilaxy is published by users themselves and may contain risks and shortcomings.

Bilaxy serves simply as a place where the customer receives information related to coins, searches for transaction counterparties, negotiates and conducts transactions, but in turn the company cannot control the quality, security and legality of the coin involved in any transaction, the veracity as well as the accuracy of the transaction information or the ability of the parties in any transaction to fulfill their obligations under the transaction documents.

It is up to the user to judge the truthfulness, legality and effectiveness of this coin and information, and to assume any obligations and losses that may be caused by it. Unless expressly required by laws and regulations or any of the following circumstances arise, Bilaxy is not obliged to conduct a preliminary review of information data, transactions or any other issues related to the transactions of all users.

The user acknowledges the fact that Bilaxy shall not be liable for any of his losses caused by any of the following events, including but not limited to loss of profits, benefits, use of data or any other intangible losses (regardless of whether the organizer was notified of the possibility of such losses), as well as unauthorized use of the customer account, modification of his data by third parties, costs and losses incurred by purchasing or purchasing any data or information or participating in a transaction

Under no circumstances shall Bilaxy be liable for any failure or delay in service caused by regular maintenance of information network equipment, information network connection error, computer, communication or other system error, power failure, strike, labor dispute, riot, revolution, chaos, shortage of production or materials, fire, flood, tornado, explosion, war, government acts or court orders.

Bilaxy has the right to terminate all or part of the Bilaxy Service for the customer, temporarily or permanently block authorization in the account at its sole discretion and without any prior notice for any reason. Bilaxy will not be held liable to the user.

In the event of any of the following events, the company has the right to directly terminate this agreement by canceling the account, and also has the right to permanently block the account authorization and revoke the account in question:

• after Bilaxy stops providing services, the client has registered in the name of any other person as a user;
• the main content of the information provided by the user is untrue, inaccurate, outdated or incomplete;
• the user expressly declares and notifies the organizer of his/her unwillingness to accept the amended service agreement;
• any other circumstances where the company believes it must stop providing services.

Customer Service at bilaxy.com

You can contact technical support by using:

• feedback forms;
• email;
• online chat.

 

Is Bilaxy a scam?

Bilaxy – cryptocurrency exchange, which appeared on the Internet in 2018. During this period, the project gained wide popularity among users around the world. Although the company focuses on the international market, the official website is translated into only two languages – English and Chinese. The main office of the organization is located in the Seychelles, where the company’s activities are controlled. It is worth noting that the exact address of the headquarters is not specified.

The company gives its clients the opportunity to trade more than 150 types of cryptocurrencies. Most trading pairs include Ethereum, so this cryptocurrency is considered the main one. Trading on the platform is done through USDT, BTC, ETH and BNB markets. The company issues its own token called BIA, which is paid to users for showing various activities on the exchange. The token also gives customers the opportunity to receive various benefits, such as discounts on commissions.

For active traders on the platform, there are various contests, promotions, as well as bonuses are awarded. Users have the opportunity to earn extra income by taking part in an affiliate program. Thus, clients can attract new participants to the project and receive compensation for this. A total of 3 levels of referral program is provided. A mobile application was developed for traders to have constant access to the trading platform. A version for both iOS and Android systems is available. On the Internet you can find a considerable number of reviews from customers. In general, the organization has a positive reputation, although there are negative comments. After analyzing the opportunities implemented by the project, is it possible to conclude that Bilaxy is a scam? No, because the company is actively developing and successfully provides its services to customers around the world.

 

Conclusion

Bilaxi – cryptocurrency exchange, which began its existence less than two years ago. During this period, the organization was able to gain popularity and become one of the top exchanges for trading digital assets. The company focuses on the international market. The platform provides not only profitable, but also comfortable conditions for trading activities. However, before starting cooperation with the project, one should carefully study possible risks and documentation, because trading is a risky activity. At the moment, the exchange looks good among competitors, although there are some shortcomings. If you have been or are a client of the company, leave your independent opinion about the service on our website.