This Binaryx review will be talking about all of the platform’s features for buying, exchanging, and trading digital assets. Further, the platform is a European digital asset exchange founded in 2019. The founder of the company is Oleg Kurchenko, a Ukrainian serial entrepreneur and investor. Further, the company is registered in Estonia.
Binaryx has rich functionality, offering its customers an extensive toolkit for working with cryptocurrencies. Among the available products: an exchange module, a trading module, a crypto wallet, education hub Binaryx Academy, an expert blog, and White Label solutions.
Binaryx provides a user-friendly experience. The exchange website is simple, the user interface is intuitive, the design is clean, and was developed in collaboration with professional traders according to the latest design trends. The site is equally easy to use for both novice users and advanced traders. The platform is available in 11 languages, currently offers a wide range of top cryptocurrencies — BTC, ETH, LTC, BCH, USDT, XRP, LINK, BNB, HOT, OMG, ENG, COMP, UNI, and constantly adding new ones.
Table of Contents
- Digital asset exchange with a European license and headquarter in Tallin, Estonia.
- Offering a user-friendly platform for both beginners and professionals.
- 24/7 customer support.
- Many platform features are under development.
Binaryx Products and Services
An exchanger offers users quick buying, selling, and exchanging crypto for crypto or crypto for fiat currencies. It is the best solution for fast crypto transactions and instant currency conversion. The Binaryx exchange module supports payment by credit and debit cards, bank transfer (SEPA), and cryptocurrency transfer.
The quick exchange window has a simple and intuitive interface, and also offers an easy exchange procedure in just a few steps: select a currency pair and indicate the desired conversion amount. You don’t even need to create an account and register in the system. It is rather an internal function that is designed to redistribute fiat and digital funds across users’ wallets. For a full-fledged purchase and sale of cryptocurrencies, it is much more profitable to use a trading terminal.
Binaryx offers an easy-to-use trading terminal. Further, the functionality is available only to registered users. The Binaryx terminal is suitable for both advanced professional traders and novice users. The functionality may seem a bit overloaded to a novice trader, but it can be easily customized.
The features include the matching system and Trading view charts. Among the available types of trading operations are the following ones: spot trading, margin trading (in development), futures (in development), account replenishment, and withdrawal of funds. Among the functions of the site are market data (chart of current rates); user data (information about recent orders and account statements); trade journal (information about all trade operations).
Binaryx works following the principle: all transactions in one convenient and free cryptocurrency storage. A wallet is a prerequisite for accessing the site’s functionality. Users’ money is located there, and transfers of fiat and digital funds between users’ wallets are carried out there. In addition, there you can track your activity together with managing income and losses.
Among the functions of the storage is the formation of a cryptocurrency portfolio, tracking the transactions history, and funds withdrawal. A separate wallet must be created for each asset (digital or fiat). Having replenished the account, you can start trading and use the rest of the functionality. The Binaryx wallet is secure, usable, simple, and free.
The significant asset of the Binaryx exchange is its educational blog. The team constantly shares valuable and relevant information about the cryptocurrency industry with readers. Materials are divided into 4 blocks: company news, product updates, podcasts, premium articles. The authors of the blog are experienced experts and professional traders, who regularly offer analytical materials, the latest news of the cryptocurrency market, company updates, podcasts on cryptocurrency topics, as well as predictions, life hacks, and useful tips for beginners and advanced users.
Educational hub Binaryx Academy is a project that is intended for both individual users to get acquainted with the cryptocurrency industry and improve their trading skills as well as businesses and entrepreneurs to get insights on how businesses can benefit from asset tokenization or putting digital assets on the balance sheet.
Here users can explore the market, learn the outlines and basic principles of working with digital funds, and learn the cryptocurrency space in depth. Individual users can take advantage of free courses dedicated to cryptocurrencies and trading. The courses have three levels of difficulty — beginner, intermediate, advanced. Binaryx Academy is created by professional traders, targeted at a wide audience, localized for 11 languages, available at any time from any geography, and completely free for everyone.
Binaryx also offers users an opportunity to develop their own marketplaces and start their cryptocurrency business. The platform provides ready-made products (trading terminal, exchange module, wallet), access to its own liquidity, solutions for analysis, management, business setup (admin panel and analytics), ready-made server solution, access via API.
Additional features include risk management, mail server, corporate design, technical support, adaptation, localization. To receive an individual offer, you just need to leave your email, write a message and indicate the subject of your request. This is the best solution for anyone looking to launch their own crypto trading startup.
The team is constantly working to improve the platform and expand the range of services. Among the new solutions that are expected to be added soon are; ETF indices, digital API, commodity, asset tokenization, marketplace, margin trading, and futures.
Binaryx Review: Account Registration
To register on the platform, you need to click “Sign up” on binaryx.com main page. You do not need any documents or bank cards for this. Binaryx does not require confidential user information and does not put forward any requirements or restrictions. The only thing is that the person must be of legal age. There are two ways to create a personal account on the exchange — via social networks or email.
- Registration via Facebook, Twitter, or Google account: If you choose this method, you will need to provide the platform with access to your personal information posted on your Facebook, Twitter, or Google profile.
Binaryx Review: Account Verification
The basic level of profile verification is a mandatory procedure that every potential user goes through at the stage of account creation. It is an email confirmation through the link provided in the response registration letter from the company.
For already registered users of the Binaryx platform, extended verification opens. Although it is not necessary to pass it, it increases the protection and security of the account, and also provides access to absolutely all the functionality of the service without any restrictions.
Extended verification is located in the “Security” section, which can be accessed through the service menu on the page of the personal account. It provides for the passage of three additional levels of verification and account protection.
- 2FA. Two-factor authentication is a security enhancement when you sign in to your account. Today, a 2FA connection is available through the Google 2FA application, and in the near future, it is expected that it will also be possible to carry out SMS verification to protect a personal profile.
- ID confirmation. The user identification procedure includes authorization of identity and payment method confirmation. To conduct verification at this level, you have to upload scanned copies or photographs of identity documents and add a payment card. After that, you will need to pass through a biometric check, take a selfie with a document in hand. To connect and confirm a bank card, add its photos on both sides, closing the CVV code. After you pass through verification at the level of identity confirmation, a corresponding mark on the passage of verification will be added to your dashboard, and the bank card will be displayed in the list of your means of payment.
- Anti-phishing code. It is a unique compilation of characters that you will need to enter to prove your ownership of the account.
Having successfully passed verification at all these levels, you will have access to absolutely all the functionality and tools of the Binaryx exchange.
Binaryx Review: Pros and Cons
|Binaryx provides a smooth user experience with an intuitive and convenient interface.||A small number of trading pairs.|
|Accepting both crypto and fiat currencies for deposits.||Not available for users from the USA.|
|Round-the-clock customer care.||Margin trade, mobile app, and other handy features are in the pipeline.|
|Beginner-friendly platform with the educational hub.|
Binaryx Review: Conclusion
Binaryx is a licensed European digital asset exchange established in 2019 that provides a number of services for individuals and businesses. Although Binaryx is a relatively young and promising exchange with many products under development, the platform provides wide support for crypto novice users with its Academy and educational materials.
Frequently Asked Questions
Where Binaryx is available?
Binaryx is currently available internationally with some exceptions. The platform is unavailable for users from the following geographies: DPRK, USA, Iran, Somalia, Crimea, DPR, and LPR.
Is KYC required?
KYC (Know Your Customer) is a policy used by financial institutions (including cryptocurrency exchanges) to verify identity. Binaryx KYC is not required for trading operations, but we strongly recommend our users pass through the procedure to use all platform services easily.
What are the Binaryx limits?
Current limits on transactions can be observed in the limits section on the website and can also be found in the “Limits” section in the drop-down menu of the user’s dashboard.
Is Binaryx safe to use?
Binaryx is licensed to conduct trading operations and is operated by Binaryx OÜ, a limited company registered in Estonia under registry code 14819844 licensed by Politsei-ja Piirivalveamet. License – FVT000465. Providing services of exchanging a virtual currency against a fiat currency and providing a virtual currency wallet service.