Bilaxy’s domicile country is unclear. This is not a red flag per se, but we recommend all visitors to be careful and form their own opinion on whether Bilaxy is a legitimate exchange or not. The exchange is available in English and Chinese, so a reasonable assumption is that Bilaxy’s domicile country is either China or Hong Kong. While the country of origin of an exchange is never a guarantee of its quality, we note that also the world leading exchanges Binance and KuCoin have their headquarters in Hong Kong.
The exchange launched in April 2018.
At this exchange, you can trade a number of different altcoins (many very unknown), against the ETH. There is however no fiat currency trading. The fact that there are so many different unknown altcoins listed actually seems to be this exchange’s unique selling point and part of the purpose of existence.
On the date of last updating this review (11 September 2021), the exchange was listed as untracked on Coinmarketcap.com. Additionally, there was no information about the trading volumes on CoinGecko. Lack of data on liquidity and trading volumes is a matter of concern for any trading platform. We urge our readers to be cautious if opening an account with this platform.
Bilaxy used to have a referral program for its users. It was easy to participate, the only thing you had to do was to create an account, get your link, invite your friends and then get your bonus (just as any other referral program really). This program seems to have been discontinued without notice, however, which is unfortunate for the users.
US-investors may not trade here. The reason for excluding US-investors are primarily regulatory reasons. The US-legal regime imposes obligations on many companies accepting funds from US-investors. Such obligations include, inter alia, preparing marketing material in accordance with SEC-standards and registering them with the SEC (which is a very burdensome process). Don’t be too sad though, there are many other venues that offer the type of trading this exchange does. Use our Exchange Finder to find out which alternatives you have.
Bilaxy Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at Bilaxy:
Bilaxy Trading fees
This exchange charges flat fees (i.e., the same fees for takers and makers). They have set their flat fees at 0.20%. This is slightly below the historic global industry average of 0.25%. However, we are seeing more and more exchange moving to lower trading fees, such as 0.10% and 0.15%. In any event, the trading fees charged by Bilaxy are not "off market", but acceptable.
Bilaxy Withdrawal fees
According to information we have receievd, Bilaxy today charges a withdrawal fee amounting to 0.02 ETH when you withdraw ETH (previously 0.01 ETH). This is a bit above the global industry average for ETH-withdrawals.
Bilaxy does not accept any deposits of fiat currency. This means that the new cryptocurrency investors (i.e., investors without any previous holdings of cryptocurrencies) can’t trade here. In order to purchase your first cryptocurrencies, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency. Find one by using our Exchange Finder!