The native digital cryptographically-secured utility token of BitMax (BTMX) is a major component of the ecosystem on BitMax, and is designed to be used solely as the primary token on the platform. BTMX will initially be issued by the Distributor as ERC-20 standard compliant digital tokens on the Ethereum blockchain. BTMX is a non-refundable functional utility token which will be used as the unit of exchange between participants on BitMax. The goal of introducing BTMX is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on BitMax. BTMX does not in any way represent any shareholding, participation, right, title, or interest in the Foundation, the Distributor its affiliates, or any other company, enterprise or undertaking, nor will BMAX entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in Singapore or any relevant jurisdiction. BTMX may only be utilised on BitMax, and ownership of BTMX carries no rights, express or implied, other than the right to use BTMX as a means to enable usage of and interaction within BitMax. BTMX would also function as the economic incentive to incentivise users to participate in the BitMax ecosystem. Users of BitMax and/or holders of BTMX which did not actively participate will not receive any BTMX incentives. The Distributor which issues and sells BTMX shall be an affiliate of the Foundation. The limit of 10 billion BMAX is strictly imposed without any further increase. The users can obtain BTMX through the Trading Mining model and are eligible to receive BTMX incentives based on the trade volume of their user account. BTMX can also be purchased on the exchange under the pairs of BTMX /BTC, BTMX /USDT.
|Mkt.Cap||$ 867.71 M||Volume 24H||2.54 M BTMX|
|Market share||0.04%||Total Supply||10 B BTMX|
|Proof type||N/A||Open||$ 1.26|
|Low||$ 1.08||High||$ 1.26|
BitMax Token price
In addition, the exchange features low withdrawal fees. Its blockchain-driven user-based value exchange system boosts the efficiency of the platform and, eventually, improves the cooperation across all levels. BitMax also offers spot and margin trading, as well as it serves institutional and private investors, and professional traders.
BitMax Token is a decentralized cryptocurrency thats ranked #230 by market cap. BitMax Token has a maximum supply of ∞ BTMX and a circulating supply of 666.2M BTMX. BTMX is down by -2.25% in the last 24 hours with a volume of $3.5M. With traditional mining models, once the platform token (in this case, BTMX) is earned, the miner usually sells it in the secondary market in exchange for other paired cryptocurrencies.
BitMax’s Traffic Analysis by Channels (Aug 2018 – Jan
From the perspective of Liquidity, Cyber Security and Marketing analysis, we can conclude that BitMax cannot be considered a trustworthy exchange. As such we can hardly call it a stable and liquid place for trading. However, it relatively safe in terms of Cybersecurity, thus, the final choice depends on your personal decision only. CoinMarketCap, which is unsurprising considering that BitMax ranked 2nd in CMC rating on the 25th of January 2019, and thereafter remained in the TOP-10 positions approximately for several weeks.
Is BitMax safe?
Reverse-Mining Mode Analysis The equivalent market value of BTMX token being deducted from your account. The BTMX tokens being subject to permanent lock-up. For example: in the Reverse-Mining mode, you execute the Maker trade of buying 10,000 ETH.
BitMax is a Singapore based crypto exchange launched in July 2018. The bitmax.io domain name was created on the 23rd of February 2018. We found this a bit suspicious and decided to check whether BitMax exchange really possesses its reported daily trading volumes. By reporting huge daily trading volumes, these exchanges easily and rapidly become first in line ahead of well-known crypto exchange giants, such as Binance and Okex.
BitMax.io margin trading requires separate “Margin Account.” Users can transfer their assets from Cash Account to Margin Account as collateral for margin loan under My Asset Page. Margin trading on BitMax.io is a financial derivative instrument of cash trading. BitMax.io users can leverage their tradable asset for potential higher return on investment.
Christmas spirit has taken over the world and the festivities do not seem to be ending, with the New Year approaching in just a couple of days. While most of the industries are taking breaks for the holiday season, this does not apply to the cryptocurrency space.
This is in stark contrast to the profit-first approach adopted by many traditional exchanges that simply deduct transaction fees from client orders. It is not possible to buy most cryptocurrencies with U.S. dollars. Bitcoin, Bitcoin Cash, Ethereum and Litecoin can be purchased with U.S. dollars using Coinbase. Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance or Changelly to purchase other cryptocurrencies, including BitMax Token.
At the heart of Bitmax are central limit order books for a wide array of high-quality cryptocurrencies. Users can deposit, trade and withdraw Bitcoin, Ethereum and other cryptocurrencies and benefit from an advanced trading interface. Bitmax is one of the best cryptocurrency exchanges for those who are seeking a modern and secure platform to trade between cryptocurrencies. In addition, mandatory lock-up for large-sell orders helps balancing the trading activities of BTMX on the secondary market as well as supports the sustainability of the BTMX token value in the longer run. With this requirement, BTMX holders and miners are also incentivized to hold their tokens rather than directly selling them on the secondary market.
Bitmax Cryptocurrency Exchange Review – How To Register And Verify Account?
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Line-Owned Bitcoin Exchange BitMax Set for Regulatory Approval from FSA in Japan. Japanese messaging giant, Line Corp, will reportedly soon get the green light from the Financial Services Agency (FSA) to launch BitMax – its bitcoin exchange platform.
A BitMax exchange review also reveals that they offer access to various cryptocurrency pairs. A blockchain-driven user-based value exchange system that enables improved efficiency, when it comes to organizational cooperation, seems to be at the heart of BitMax’s vision.
MarketBeat's community ratings are surveys of what our community members think about BitMax Token and other cryptocurrencies. Vote "Outperform" if you believe the stock will outperform other cryptocurrencies over the long term. Vote "Underperform" if you believe the stock will underperform other cryptocurrencies over the long term. BitMax Token reached its highest price on 27 March, 2019, when it was trading at its all-time high of $ 0.332738.
- BitMax.io’s team of Wall Street quant trading veterans has placed strong emphasis on fairness, liquidity, and transaction-driven income streams for traders of all sizes.
- BitMax.io (BTMX.io) is a global operator of an innovative digital asset trading platform with a broad range of products and services for global retail and institutional clients.
- While most of the industries are taking breaks for the holiday season, this does not apply to the cryptocurrency space.
- Reported Volume calculates volume from all exchanges with market pairs, but due to factors such as wash trading, it is considered an unreliable metric.
- Along with new, strategic partnerships in the blockchain and cryptocurrency space, BitMax.io is steadily cementing its reputation as the world’s first 3rd-generation cryptocurrency exchange platform.
- At the heart of Bitmax are central limit order books for a wide array of high-quality cryptocurrencies.
The goal of introducing BTMX is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on BitMax. BTMX may only be utilised on BitMax, and ownership of BTMX carries no rights, express or implied, other than the right to use BTMX as a means to enable usage of and interaction within BitMax. BTMX would also function as the economic incentive to incentivise users to participate in the BitMax ecosystem. Users of BitMax and/or holders of BTMX which did not actively participate will not receive any BTMX incentives. The Distributor which issues and sells BTMX shall be an affiliate of the Foundation.
Why is BitMEX banned in USA?
As many other exchanges, BitMax does not accept US-investors on its platform. If you're from the US and you're looking for the trading platform that is just right for you, don't worry. Use our Exchange Finder to find an appropriate exchange accepting US-investors.
Is BitMax available in the US?
BTMXP represents the private sale portion of BTMX. After paying a certain amount of commission fee: - Private sale investors can transfer BTMX private sale portion to BTMXP for trading. - Regular users can transfer BTMXP purchased back to BTMX private sale pending release.
This is managed through the setup of the Data Usage Fee Pool (“the Pool”). Every day, the platform will set aside 80% of net transaction fee revenue for the Pool and distribute back to token holders 1/180 of the Data Usage Fee Pool balance. Compared with traditional mining fee income distribution patterns, BitMax.io’s Pool will grow as mining activities continue. However, with the Pool, BitMax.io pays users for BTMX usage data, with 80% of BitMax.io’s net transaction fee revenue distributed back to token holders who sign up and agree to share their token transaction information with the platform.
Sign-up to receive the latest news and price data for BitMax Token and its competitors with MarketBeat's CryptoBeat newsletter. Their token has many different usecases, including those that are unique for the cryptocurrency market. BitMax is global operator of digital asset exchanges for diverse groups of clients from retail to institutions. The trading platform, architected by a group of Wall Street quant trading veterans, is designed for reliability and speed of trade execution, and ease of connectivity. The native digital cryptographically-secured utility token of BitMax.io (BTMX) is a major component of the ecosystem on BitMax.io, and is designed to be used solely as the primary token on the platform.
At the moment, BitMax serves offers a variety of coins and trading pairs with three markets (BTC, USDT, and ETH). As per the data on Coinmarketcap, at the moment, BitMax offers trading in 183 pairs. Reverse mining with trans-fee mining were formally launched to public on Nov 18, 2018, along with the industry-lowest commission rate at only 0.04%. Along with new, strategic partnerships in the blockchain and cryptocurrency space, BitMax.io is steadily cementing its reputation as the world’s first 3rd-generation cryptocurrency exchange platform.
Tracking of cryptocurrency markets has become even more convenient with our application. Concerning its security, BitMax uses a 3-level KYC system and employees monitor trading patterns with artificial intelligence algorithms. MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock.
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This provides additional incentives for users to hold BTMX tokens, and by holding tokens and not selling them, token prices become more stable, and more stability in token prices, in turn, encourages more mining as well. Much of this success has been driven by BitMax.io’s user-centric innovations that incentivize more trading on the BitMax.io platform. One of these new trading models, known as trans-fee mining, allows traders to earn platform utility token, the BTMX token, whenever they trade on BitMax.io and pay for transaction fees. BitMax.io deducts trade transaction fees from traders and then credits their account with BTMX tokens of the same value.
As we have mentioned above, on the 25th of January BitMax was ranked 2nd, according to Coin Market Cap, for reported daily trading volume (DTV) having conducted $976M in 24h trade volume. interview with BitMax CEO, according to which BitMax exchange claims to positions itself as “the next third-generation digital asset trading platform”. BitMax also offers a financial product that is based on cryptocurrencies or digital assets called, BitTreasure.
Trans-fee mining was quickly followed by the introduction of reverse mining, separate unique incentive structure for Maker trades – which are trades that that have not been filled immediately partially or fully (like a limit order). Under this model, when a user executes a maker trade, 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. The deducted BTMX tokens are then put into permanent lock-up, effectively moving them from the market supply. BitMax.io (BTMX.io) is a global operator of an innovative digital asset trading platform with a broad range of products and services for global retail and institutional clients. With its relentless focus on transparency, reliability, and quality of execution and client services, BitMax.io has established itself as a clear leader in the crypto trading and exchange space.
Does Deribit require KYC?
Deribit has no KYC.