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Review on BitMax by Ndas Sue
BitMax works like a universal operator of crypto exchanges with a broad…
BitMax works like a universal operator of crypto exchanges with a broad clientele base that ranges from large institutions to small retail investors. The project has the experience and knowledge backing of a brilliant group of entrepreneurs with extensive Wall Street expertise.
The primary objectives of BitMax are to improve the reliability and speed of making trades while also making connections between secondary and primary uses much more manageable and smoother. The founders hope that BitMax will enhance the overall liquidity levels in the blockchain market, support the equitable allocation of resources and promote crypto structural optimization.
BitMax Crypto Exchange & Digital Asset Trading Platform Features
High-Tech Support
The tech support offered by BitMax will feature advanced technologies to attain greater reliability, scalability, security and ensure easy maintenance. It will also provide a friendly crypto trading environment complete with an initial target of processing over 200,000 transactions every second. The platform will also offer full-platform support and be available from the web browser and mobile client to apps like WeChat along with multilingual features, supporting both Chinese and English.
Stability and Safety
BitMax has a robust security management built into its system, including multiple firewalls to track real-time data processing and also multi-signatory requirements along with cold and how wallet solutions to improve security. The firm has also partnered with a leading security firm to review its code and the general architecture design to guarantee the utmost safety before going live. The stability will be brought by the adequate liquidity that BitMax is set to get, thus improving the trading experience for all users.
Offer Support For Diverse Financial Products.
At launch, BitMax will support Bitcoin, Ethereum, and the utility BMAX token. However, other high-liquidity tokens are going to be introduced gradually to the platform. Unfortunately, the platform doesn’t support FIAT currencies like USD at the moment.
Pros
- Collaborative Ecosystem The end users can collaborate and share with one another to attain common objectives and also add value to the ecosystem. Some of the collaborative efforts include setting up the platform’s mining pool and also carrying out any ecological maintenance needed. Participative Forum Consumers independently and voluntarily take part in the planning and delivery of critical tasks like project voting, transaction mining and also decision making within the platform. It reinforces the power of the community in joint construction and ensures lasting adoption. Decentralized Platform BitMax is a public chain where all the downstream and upstream economic systems hosted on its blockchain will be empowered to attain further expansion within the autonomous digital economy. Smart Autonomous Agents BitMax will deploy smart programs, independent agents and also capitalize on the future growth of AI to run its operations in a self-sustainable manner while motivating participants via token ownership. -Team: Team has three main members: George Cao, Ariel Ling, and Han Liu. Team is highly appreciated because of their experience in asset management, investment, banking — finance. The experience, background and relationship of these 3 member have created the attraction from investment funds, which greatly affects the number of members on the telegram as well as create the “HYPE” of the project. -Idea: when number of ICOs is increasing day by day, the development of a Exchange is a noticeable idea. This is a potential investment if an exchange could meet the need of different type of user. + With the idea of a decentralized and user-centric platform (serving different purposes for different objects and user groups). Putting the benefit of the prospect first is the key community development that BitMax offers. - Token Allocation: According to the mechanism that encourages future users to participate in the transaction - Funds: Some large funds behind BitMax include: Bitmain, FBG Capital, GBIC, Matrix Partners, Danhua Capital. The effect of these funds on the project is extremely significant
Cons
- The platform currently does not support fiat currency, such as: RMB, JPY, KRW, - Team: Team has not had much experience in operating, managing crypto trading floors and blockchain. Teams need additional personnel in the field of blockchain and cryptocurrency - The same products and competitors: Trading floors are not so new ideas in the field of blockchain and cryptocurrency. Therefore, in the future BitMax will have a lot of competitors within the industry. Recently, there are two projects Bgogo and OceanEx are quite prominent when compared with BitMax. BitMax’s user-benefit strategy will certainly produce the effect, but in the long-term, it is unlikely that this strategy will succeed because of its entry into the industry and the adoption of a similar strategy from its competitors.
