Review on Bgogo by Alex Martakov
The exchange is quite new, and loud words about it now makes no sense to talk…
The exchange is quite new, and loud words about it now makes no sense to talk, but I liked it, here I think you can earn not bad money, especially now. I will 100% try to trade it. And I think it will gain a foothold in the top of the best cryptocurrency exchanges, I think many of its major investors will agree with me.
The hype factor around Bgogo means that the exchange is likely to attract many new users after the launch. However, the analysis of the project indicates that its long-term prospects are still uncertain.
The most serious concern is the lack of technical documentation, in particular the lack of a description of the management system. No less worrying is the exchange's ability to withstand a variety of competitors.
Of course, BGG tokens can provide their owners with some trading opportunities in the short and medium term. But before investing in this project, it is worth considering that in the long term, this trading platform will be vulnerable to competitors if it cannot stand out with unique features or offers
Pros
- In fact, Bgogo is a cryptocurrency exchange that uses so-called TRANS-mining or intelligent trading to create a user base. Its business model encourages large investors to accumulate the necessary amount of BGG tokens to become a supernode. Owners of such nodes can participate in the selection of digital assets that will be included in the lists traded on Bgogo. This will allow them to earn 20% of the Commission charged by the exchange for trading with this token. This passive income privilege is perpetual. Unfortunately, the technical documentation does not provide any details about the technologies used, but describes some aspects of The economic model of the bgogo exchange. One of them is the long-term concept of development of the trading platform. After creating the user base, the platform will be used to incubate and generate a list of new ICOS created on the platform. This explains the fact that the project is not profit-oriented. The owners of the tokens BGG will be eligible for pre-allocation ICO, developed on the platform.
Cons
- no description of the business model, technology and roadmap in the White paper; lack of experience of the project team in the field of creation or management of the trading platform; the issue of exchange management also remains open, as the technical documentation does not contain exhaustive information (based on the information provided, there is no way to know whether the trading Commission system and BGG tokens will be used, as the authors of the project promise); there is no unique offer or feature that could allow the bgogo exchange to win its due place in the market among many other trading platforms.
