BitcoinBing CRYPTOCURRENCY EXCHANGE

BitcoinBing is a cryptocurrency exchange platform that incorporates some key features that differentiate it from regular crypto exchanges. These features and their significance to the buying and selling process will be addressed further on in this paper.

BitcoinBing Conjunction With Smart Contract

A smart contract is a method of exchanging value between two or more parties using the blockchain as a tool for validation and escrow. It is a program containing a set of instructions which guide online transactions and exchanges of value. Smart contracts use the blockchain as a validator and escrow solution, cutting out the need for a middleman and exponentially increasing the fidelity of transactions. UsingUsing a smart contract, a seller and a buyer involved in a peer-to-peer transaction do not need to have a middleman interceding between them to ensure that the right exchange is made at the right time. Rather, a set of conditions, instructions and parameters is coded into the blockchain, and the buyer deposits their cryptocurrency into a safe wallet under the care of the smart contract protocol. Once the buyer confirms that they have received the requested value from the seller and it is acceptable to them, the smart contract automatically releases the payment to the seller.

ABOUT BitcoinBing

Bitcoinbing has been created with the purpose of solving the current issues. The exchanges today are facing a certain number of issues. Bitcoinbing team had outlined all those issues and designed its own exchange in a way that it bypasses all those problems.

Almost all the existing exchanges are put together in a rush to make profits as soon as possible. This approach has caused basic shortcomings in their structure of operations. Bitcoinbing platform took a longer time for development, with the specific goal of ensuring that the user experience does not deteriorate as user volumes rise on the platform. Bitcoinbing team used years of experience in cryptocurrency and design, with this collective effort enabled us to build a platform which maintains a uniform standard for user experience, with the capacity to withstand heavy transaction loads and immense fluctuations. Consequently, we did face some issues in the initial phase of development which was slower, but this is what gives Bitcoinbing the crucial operational edge in practice.

Bitcoinbing team has industriously worked on it architecture. The onsite Bitcoinbing matching engine has a phenomenal transaction processing capacity that can handle up to 1,000,000orders/second. Bitcoinbing users are spared from the trouble of waiting for their orders to get out of a queue which in some instances can take days or even weeks to process. This platform offers all the services that a typical exchange provides such as spot trading, margin trading, anonymous instant exchange and decentralized exchange.InIn addition to that, it also offers the ability to conduct over-the-counter and peer-to-peer trading of fiat and cryptocurrency in a flexible and secure manner. In Bitcoinbing, users signify what cryptocurrencies they have and what exchange rate they are willing to sell with, and other users respond to them and negotiate until an agreement is reached. Upon doing that, a smart contract is agreed stipulating how much is to be exchanged on both sides, how the transfer of value is to be made, and within what time frame these events are to take place.InIn order to ensure that users are not cheated of their money or otherwise discomfited, a rating and review mechanism exists for each year to gain onsite trust ratings, which helps users in making critical decisions about who to do business with. As mentioned earlier, smart contracts in this paper contains an escrow mechanism that ensures that none of the users can get hold of the other user's fiat or cryptocurrency without paying in their agreed value for exchange. This preempts all forms of advance fee fraud favored by internet fraudsters.

This platform works as an adjudicator between conflicting parties by incorporating a dispute resolution framework, using a decentralized decision making process to resolve conflicts fairly. Bitcoinbing has the ability to integrate with a vast number of fiat and crypto payment systems including but not limited to Paypal, Neteller, Western Union, International Bank Transfer, Perfect Money and a host of other payment solutions.InsteadInstead of giving users a rigid operational framework with which to trade likes a conventional cryptocurrency exchange, Bitcoinbing allows User A, who wants to buy BTC to connect with User B who has BTC to sell at a certain price. When the price and transaction details are agreed between both parties, an Ethereum smart contract is generated which states how much is to be exchanged from both ends, with what method, and within what time frame. In the event that either party defaults on any conditions baked into the smart contract, it will automatically initiate a refund of the cryptocurrency it holds in escrow to thethe cryptocurrency seller. If the contract terms are adhered to, and both parties signify their satisfaction, it disburses the payments as appropriate and the contract is terminated.That is a revolutionary concept in itself, but what is more interesting is that users who invest in the Bitcoinbing ICO are given the ability to engage in trading on the platform without paying transaction fees. So in essence, it is possible for users to create their own custom buying and selling conditions for Bitcoin, and carry out entire transactions without paying the platform a commission. Bitcoinbing will share its profits in the form of returns among its investors, which means that investing in the Bitcoinbing ICO effectively entitles an investor to a proportional share in the platform's operational profits.

FEATURES OF BitcoinBing

Zero Fee Structure
Multiple Currency Pair
Full Stack Trade Desk
Security
Token Buyback
Speed
Desktop & Mobile App
Trading competition and Airdrod
24/7 Live Chat
Instant Withdrawal & Deposits

ICO OFFER BY BitcoinBing

The ICO is a natural supplementary funding source to further accelerate the development and global adoption of the BitcoinBing PLATFORM

The process of putting forth a proposal in an ICO is simple. The cryptocurrency software developers will firstly announce their intention such as to attract a large number of investors. The developers will then write the white paper which will describe their project and highlight the key areas of that project. Even though it acts as a marketing tool, white paper is not the alter ego of a sales brochure. It is written in the academic style and the main objective is to attract the members of an ICO to invest in the proposal. The support of the prominent members of the blockchain community is also necessary to launch a new crypto coin.

After their go forward sign, the developers will create the tokens. The investors will receive the tokens in exchange for Bitcoin or Ethereum. The charge of the token and the limit has to be decided by the developers. Generally, the tokens have a considerably lower price at the initial stage and this is another reason why you should invest in ICO. The developers will also have to time at which they will hold their investment phase (ICO). It is critical to decide on the right moment.

PreICO dates »» 15th September to 30th september

ICO dates »» 1st October to 14th

November

ICO caps:

Soft Cap »» 4M$ (Achieved)

Hard Cap »» 40M$

REASONS TO INVEST IN BitcoingBing ICO

ICO is the place for sharing new ideas:

You only have to look at the progress of Ethereum to decide to invest in an ICO. All the cryptocurrencies that have become popular today have had the backing of an ICO.

Community building:

By investing in an ICO you will become a part of a community and you will also come to know about the forthcoming projects as soon as the intention is revealed. You will thus have the first opportunity to invest in.

Access to the valuable tokens:

By investing in the proposals at the early stage you will receive tokens that you can further invest or trade. Thus, you will earn immense profits.

ICO regulations:

Many countries like South Korea have implemented regulations on the ICOs. It is a good thing as those who want to genuinely invest in ICOs will approach it. It will also ensure security as the fraud ones will be eliminated. In future, investing in ICOs will thus become more and more secure.

Altcoin technologies are the future:

Investing in future is another reason why you should invest in ICO. If you want to be a part of the growth, a leap into the future then you must invest in the ICOs. The early adopters of Bitcoin, Ethereum and other major cryptocurrencies have already earned huge profits by now.

ABOUT BING TOKEN

Bing token is Bitcoinbing platform's native token which gives traders zero trading fee, when using it to pay fee for trades made on Bitcoinbing exchange. This mean that Bitcoinbing raised capital, launched with a functional product and instantly had a practical utility to benefit users. A utility token is a functional token that, through smart contract programming, can be utilized in many different ways. In case of Bing, it can be used to pay for services within the platform as well as with zero trading fee.