Bilaxy

Bilaxy, a centralized cryptocurrency exchange, launched in April 2018 and is registered in the Republic of Seychelles, though some sources note its base in Hong Kong, China. Targeting traders in over 80 countries, it focuses on liquidity for new tokens and aims to provide transparent, reliable trading services for a global audience.

What Bilaxy Offers

• Trading Pairs: Supports nearly 1,000 pairs, including 300 USDT, 300 ETH, 4 BTC, and 150 BNB pairs, with stablecoins for fiat-like transactions, though it doesn’t support direct fiat deposits.
• Fees: Flat 0.25% for makers and takers, reducible to 0.125% with BIA token payments; withdrawal fees vary by blockchain (e.g., higher for BTC than ETH).
• Features: Offers spot trading, a referral program with tiered rewards based on BIA holdings, and a simple interface with market analysis tools.
• BIA Token: Native token with a 2 billion max supply, used for fee discounts, voting rights, and early access to new features; the platform periodically burns tokens to boost value.
• Security: Employs KYC verification, claims GDPR compliance, and moved assets to cold storage post-hack, but lacks detailed transparency on current measures.

Things to Consider

• Past Hack: Suffered a $21M hack in August 2021, affecting over 300 assets due to a front-end vulnerability; the platform reimbursed users using its funds but trust took a hit.
• Regulatory Status: No formal regulation beyond self-reported compliance, raising concerns about fund safety and operational legitimacy.
• Liquidity and Volume: Reports show $83.8M in 24-hour volume (August 2021) but recent data suggests $5.28M, with a 29% drop over 30 days (January 2025), indicating potential liquidity issues.
• User Sentiment: Mixed reviews—some appreciate the altcoin variety, but posts found on X and web sources highlight withdrawal delays, poor support, and scam allegations, though these remain inconclusive.
• Accessibility: Crypto-only trading means new users need an entry-level exchange first; mandatory KYC may deter privacy-focused traders.

Bilaxy offers a wide range of trading pairs and altcoin access, but its history of security issues, regulatory ambiguity, and declining activity suggest caution. Explore it at https://bilaxy.com, but start with small trades and verify its current state.