Bilaxy exchange and its fee

[Little Mouse]

I never used Bilaxy exchange before last Saturday. I had to purchase little PBR token and it was only available in Uniswap and Bilaxy, so I had to register with Bilaxy. I didn’t look at the fee at all.
I had some good trade with PBR. Had some good profit as it had pumped huge. Later, I decided to buy some XRT and when I went for withdraw XRT, I found the fee is 0.60 XRT, each XRT was more than $35 at that moment. Can you imagine an exchange charging such high fee? Later, I checked a few alts and fee for all was huge high.
Anyway, I sold my XRT with no profit and converted them into USDT and withdrawn. USDT fee is 0.20, so it was not huge costly.

[Bttzed03]

In the hopes of saving from Uniswap trading fees, you ended up with an exchange that has equally high withdrawal fees Good thing you kept a cool head and looked for a better way though. I wonder how much fee they charge for Doge? It should be less that $0.20.

[Greatdev]

I had same experience using bilaxy exchange in the past, since that day I never returned to the exchange, their charges are too much for me to handle, the truth is they are just reaping people off, you have to look for a altcoin with high max supply cos their fee will be cheaper

[Bitcoin_Arena]

Sounds like HitBTC and Yobit 

Usually before I deposit or trade any token in an exchange I have never used before, the first things I always check are;
- Withdrawal Limits minus KYC
- Trading fees
- Withdrawal fees of the token

Their trading fee is also 2 times that charged by some popular exchanges

All trades are charged 0.2%,This is calculated by taking the (amount * purchase price * .002)

https://bilaxy.zendesk.com/hc/en-us/articles/360020409731-Bilaxy-Fee-Structure

Binance and Kucoin charge 0.1%

[southerngentuk]

This is: https://bitcointalk.org/index.php?topic=5306688.msg56016238#msg56016238
Starting to have more signs of fraud coming from Bilaxy exchange, recommend you stop using services on it and switch to more reputable exchanges.

[Jawhead999]

This is: https://bitcointalk.org/index.php?topic=5306688.msg56016238#msg56016238
Starting to have more signs of fraud coming from Bilaxy exchange, recommend you stop using services on it and switch to more reputable exchanges.

It's Beaxy not Bilaxy, both of them are different exchanges.

This exchanges aren't good since they want to hide the high withdrawal fees since they don't mention it on their fees [1] And if you want to check the withdrawal fees you need to pass level 1 KYC, create new strong password and enable 2FA.

Withdrawals:

Withdrawal fees are regularly adjusted according to blockchain conditions.
You could also check the withdrawal fee or Minimum Withdrawal on the withdrawal page of the exact token/coin.
Withdrawal fee will be deducted from your withdrawal amount.
Since the blockchain asset has a large price fluctuation in a short term, Bilaxy reserves the right to modify the withdrawal fee according to the current token price and block network situation. Generally, the exact tokens deducted as withdraw fee will be updated hourly.

[1] https://bilaxy.zendesk.com/hc/en-us/articles/360020409731-Bilaxy-Fee-Structure-

[jrrsparkles]

Remembering me the story of Yobit, don't get into any exchange without knowing complete fee structure of them.Some exchanges even have insane withdrawal fee because they simply don't want the people to withdraw their funds from the exchanges.

Using reputed exchanges is good way to reduce the fee but in terms of security it is not recommended as well so just move your funds to wallet once the trade completed.

[Apostlekin$$$]

Yobit, bilaxy and Hitbtc have kinda same curse bothering them, they care too much about themselves than the services they are rendering to their customers, the new player is emirex exchange with kinda same high gas fee and bad customer services, better be safe than sorry, get closer to top exchanges like binance, Okex and kucoin you will notice the huge difference

[CashbackLover]

These exchanges are just too greedy that's why their withdrawal fees are too high, there are few small exchanges that aren't well crowded but still their withdrawal fee is very good and fair, like tradeogre exchange, probit exchange, Stex exchange and others, we should try to avoid bilaxy exchange and others like Yobit

[Little Mouse]

I wonder how much fee they charge for Doge? It should be less that $0.20.

They don't have DOGE listed. Only TRC20 usdt is the best option to withdraw from their exchange. Others are too much expensive. I have checked with a few altcoins, for example, for 1INCH token, they charged 11 coins which means roughly a fee of $30, that's insane.

[southerngentuk]

~

It's Beaxy not Bilaxy, both of them are different exchanges.

This exchanges aren't good since they want to hide the high withdrawal fees since they don't mention it on their fees [1] And if you want to check the withdrawal fees you need to pass level 1 KYC, create new strong password and enable 2FA.

Well I seem to have confused these two exchanges, but personally I have no further explanation as I will never use it fundamentally. With what many people share I feel it is somewhat shady, so it is best to avoid it.
Thanks for reminding me of it.

[Enzo05]

I never used Bilaxy exchange before last Saturday. I had to purchase little PBR token and it was only available in Uniswap and Bilaxy, so I had to register with Bilaxy. I didn’t look at the fee at all.
I had some good trade with PBR. Had some good profit as it had pumped huge. Later, I decided to buy some XRT and when I went for withdraw XRT, I found the fee is 0.60 XRT, each XRT was more than $35 at that moment. Can you imagine an exchange charging such high fee? Later, I checked a few alts and fee for all was huge high.
Anyway, I sold my XRT with no profit and converted them into USDT and withdrawn. USDT fee is 0.20, so it was not huge costly.

At this moment swapping in Uniswap is a big headache because of the high gas fee for swapping (I am ignoring Ethereum blockchain 😂). Me now I go for centralize exchange because it is cheaper to trade and you don't need to pay ridiculous gas fees. My strategy in withdrawing funds in centralized exchange is I go for xrp, stellar, trx, doge, and wave for cheap withdrawal fees😁

[Fatunad]

I never used Bilaxy exchange before last Saturday. I had to purchase little PBR token and it was only available in Uniswap and Bilaxy, so I had to register with Bilaxy. I didn’t look at the fee at all.
I had some good trade with PBR. Had some good profit as it had pumped huge. Later, I decided to buy some XRT and when I went for withdraw XRT, I found the fee is 0.60 XRT, each XRT was more than $35 at that moment. Can you imagine an exchange charging such high fee? Later, I checked a few alts and fee for all was huge high.
Anyway, I sold my XRT with no profit and converted them into USDT and withdrawn. USDT fee is 0.20, so it was not huge costly.

One of the common reason on why i dont really make use of some unknown exchange even though i wanted to buy some alts badly.I do stop due to that very reason neither
i would get scammed nor having a headache due to high fees or would been asked out for some kyc once you withdraw or things like that.
Some exchange does still have some exaggerated fees like in Hitbtc where they havent able to fix it up or adjust basing off on network.
For you to leave no reason but to neither go with it or would go find to convert it into other alternatives like alts or stable coins.

[dogtana]

All these exchanges you can find coins with low withdrawal fees. Also Bilaxy native token BIA is still very cheap