Exchanges play a crucial role in the adoption of Blockchain technology and use of CryptoCurrency tokens for daily transactions like Online Shopping, paying bills, buying groceries, flight and hotel bookings.
In the Competitive Exchange niche, it’s always soothing to find an Exchange with a unique approach to solving some pending Exchange issues. There over a hundred exchanges listed on CoinMarketCap, most wasn’t designed to provide a solution to trading issues and there’s where I have a problem. I decided to check out most exchanges, compare the trading features available and make a choice on my best features.
We get excited with projects who succeed in a Green CryptoCurrency market. But a bear market, gives us an idea of what a true outstanding project looks like. There’s always something special about a Project that gets an exponential growth not minding the Current Market Status. In a short time, BitMax.io, an Exchange created by a team of Wall Street Veterans, made an impressive 30 Million USD worth of daily transactions. I call that impressive because in a bull market, that could mean over a billion USD in daily transaction on same Exchange.
It’s a bit tricky, but let’s see what features on BitMax.io could have given that strong initial user base and a growing community.
Bitmax Security Features:
Security features have been done in the best possible way and they will continue to improve as technology also improves. Security threats are evolving thus constantly updating exchange system, helps prevent the latest threats. BitMax has contacted Top-tier third-party security firms to deliver a security management system for the platform. Multi-level firewalls, Multi-signature barriers and hot and cold wallets are also implemented such that these digital assets are safe both online and offline.
Trading Fees
BitMax few months back Updated trading fee on the Exchange. Trading fees are cut down to as low as 0.04%. Here is a chart on BitMax trading fees.
3rd Generation Mining
BitMax got two innovative mining features to benefit the trading Community. These mining features are a cutting-edge mining model that is unique to BitMax Exchange and has not been used by any other exchange before. The reward token, BTMX, can be traded for USDT and traded with BTC, ETH, XRP, BCH, EOS, LTC or USDC.
For transaction mining, the trader is able to earn back trading fees by completing available trades. These fees are then returned to the trader BitMax account in BTMX, BitMax Exchange tokens.
On reverse mining model, trades that are not filled immediately or are partially filled, when executed by user, the user will receive a rebate of the transaction fee in exchange for an equivalent market value of BTMX that the user holds in their account. Also, the deducted BTMX tokens are then put into permanent lock-up, and removed from market supply.
Costumer Support
A readily available and smart costumer support could go a long way to keep an Exchange running without a hitch. Bitmax got a 24/7 customer support on telegram.
You could find answers on how to use the exchange and other challenges you had when using the exchange.
BitTreasure
First, what’s BitTreasure?
Sounds familiar, it’s a fixed deposit investment product that implements a strict risk management to protect users asset security while making interests for users. Users simply transfer principal (which is capped by User buying quota) in USDT to BitTreasure account and earn interest on daily basis. On the maturity date, Principal and interest is transferred to user account and available for withdrawal.
BitTreasure is only available on BitMax Exchange and only BTMX holders can buy the limited quota of BitTreasure available. You can get more detailed information on BitTreasure here; https://bitmaxhelp.zendesk.com/hc/en-us/articles/360013152014-Terms-and-Conditions-of-BitMax-io-BitTreasure
Variety of CryptoCurrency Available for Trading
Unlike most Exchange, BitMax Exchange takes care before listing a token for trading on the exchange. I think they do this to protect users from pump and dump tokens or shitty/Scammy project. That explains why most tokens on BitMax, got a real life Usecase and could be green all year round because they aren’t affected by Bitcoin price trend. Also, BitMax has listed some Stablecoins, like USDC.
Details about listed tokens on bitmax available for trading can be found on CoinMarketCap; https://coinmarketcap.com/exchanges/bitmax/.
Recently, BitMax team announced listing of two CryptoCurrencies; Ontology and Lambda. You can follow up on BitMax Announcement on this link; https://bitmaxhelp.zendesk.com/hc/en-us/categories/360000744773-Announcements
Deposit Options
Deposit on BitMax has been made so easy, and this becomes my 7th Best feature on the exchange. There are about 40 different Deposit options all in CryptoCurrency. BitMax plans to add on Fiat options like USD and EUR, for deposit, and that would be amazing. Make Deposits to your BitMax account with Zero fees and in 3Sec it’s comfirmed and refleted on your account. If you got a BitMax account, you can make a deposit and start trading. Here’s a link on How to deposit on Bitmax.io; https://bitmaxhelp.zendesk.com/hc/en-us/articles/360007123773-Account-Registration
While trying to deposit, be sure to deposit to the right address for each token. Do not deposit a different assets to a token address, otherwise the assets will not be refunded.
Here are a few exciting announcements from BitMax;
ONT Airdrop on BitMax.io
On December 7th, BitMax Announced on a tweet, listing of Ontology token with ONT/BTC, ONT/ETH, ONG/USDT, ONG/BTC and ,ONG/ETH trading pairs. Trading starts on 9th December and there’s a prize pool of 15 000 ONG tokens. Users will be eligible to win a share of the 15,000ONG prize pool once they complete KYC V1 and deposit ONT or ONG.
BitMax.io Gets Listed on CoinMarketCap
BitMax Exchange got a great team. Wall Street veterans, who know their way around Promotions. I would say it’s a hardworking team having an vision to be a leading exchange by 2019.
With this vibe, it takes only a few days to be spotted by CoinMarketCap and listed.
In Conclusion, it’s all your decision on when to start trading and on what Exchange to trade. These features make the top features I look out for on my selected exchange and I guess it’s similar to that of most CryptoCurrency traders. BitMax team has a good start and a promising future. And I think at this pace they could be a leading global Exchange.
Here’s a link to BitMax Exchange; BitMax.io
And telegram Community Chat; t.me/BitMaxioEnglishOfficial.
Here’s a link on How to Register a Bitmax.io Account; https://bitmaxhelp.zendesk.com/hc/en-us/articles/360007123773-Account-Registration
