BITGEX.io - first PoS crypto exchange

 

Bitgex is the first PoS (proof-of-stake) crypto exchange which means you will be able to get staking rewards while trading, placing orders and storing coins on the exchange. Today they started accepting registrations as part of prelaunch period. You get reduced trading fees and staking fees for 6 months if you register before they go fully live.

Registrations are open: bitgex.io.

Overview of BITGEX

Three Problems with Proof-of-Stake:

1. Most proof-of-stake coins are illiquid,  meaning it is difficult to buy or sell them on an exchange without  moving the price. A primary reason for this is that proof-of-stake  investors do not want to miss out on their staking rewards while holding  their coins on a traditional exchange. Most exchanges either A) don’t  stake your coins or B) stake them and keep the rewards for themselves.
2. Setting up your own staking is a technical, tedious, and error-prone process.  This is a huge roadblock to mass adoption of proof-of-stake, and means  that people who don’t have hours to learn how to set up their own  staking miss out on many opportunities.
3. There is no focused marketplace for sustainable proof-of-stake cryptocurrencies.  Most exchanges do not specify the underlying form of network consensus  each listed coin uses, whether it be energy-hungry proof-of-work or  highly-efficient proof-of-stake. This matters to people who care about  the real-world side effects of the cryptocurrencies they choose to  support.

The Solution: BITGEX

A  proof-of-stake focused exchange that automatically sets up optimized  staking for all user deposits and removes technical barriers to entry. Users  don’t have to worry about missing out on staking rewards while they  trade. By allowing users to post trades without interrupting staking, BITGEX  will be able to bring significant liquidity to the proof-of-stake  market. While your coins are on BITGEX, they will be compounding, no configuration or technical knowledge needed!

Two-Part BITGEX Launch

BITGEX will be released in two stages:

Phase 1: User Sign-up + Referral Program + Coin Vote (this release!)

To  build a user base and raise awareness for BITGEX, they will have bitgex.io live, with limited functionality. Users will be able to create  their accounts, get rewarded for growing the community through referral link program, and submit and vote on coins for BITGEX to list.  Since a marketplace is only as good as the buyers and sellers in the market, they want to ensure we have a large community following prior to a full launch.

Phase 2: Live Trading + Staking

This  is the “main” launch. Users will be able to trade, stake, make deposits  and withdrawals, monitor their staking, configure their account, and  more! Over the next few weeks and months BITGEX will be working to finalize  and test this functionality. They will also be undergoing an extremely  thorough penetration testing process, as security is the number one  priority of BITGEX. More details to come.

What Now?

Now that phase 1 has been released, you can now create an account, submit coins for the community to vote on, and share your unique referral link to help grow the community. As a reminder, you will receive 20% of the  lifetime trading and staking fees of anyone that signs up through your  unique referral link. If your referrals sign anyone up through their unique referral links, you will also get 10% of those new users’ lifetime trading and staking fees. Additionally, users who sign up prior to live trading + staking  launch will get 25% reduced trading and staking fees for the first 6  months. 

If you want to read more about it:

https://medium.com/bitcoin-green/bitgex-io-initial-site-launch-fcfe4fcdc2e9

https://medium.com/bitcoin-green/bitgex-io-coming-soon-f0b4041a0a20