Review on BlueHelix Exchange (BHEX) by Inioluwa Okedeji
HBTC: A Cryptocurrency Exchange With The Potential To Thrive More In The Cryptospace.
Firstly, I would like to say that I have visited and used other cryptocurrency exchanges and I can say that a lot of them have similar features and provide almost the same services, the only thing that stands some of these exchanges out from the rest is popularity and the confidence and trust that they've given their users overtime with the services they provide them.
HBTC is one those cryptocurrency exchange we've been blessed with in the cryptospace. Generally, we know crypto exchanges as a platform that specializes in the sale, exchange and transaction of digital currencies and the services the HBTC provide is no different. Although, there are other means by which you can exchange cryptocurrencies like via wallets and swapping platforms but still I'd say from experience that there's nothing better than using a cryptocurrency exchange because it is still the primary platform for exchanging digital currencies onlike wallets that just have mini exchanges integrated into them.
A visit to the HBTC exchange platform proved necessary so as to know more about the platform and hopefully become a regular user. First encounter was with the platform's interface, which I would give a 5/10 rating in terms of attractiveness but in terms of simplicity, I'll give it a 9/10. The exchange is not that attractive when you look at it compared to the other exchanges I've visited although one can say that the simplicity of the interface design goes hand in hand with the simplicity of the exchange itself, considering how simple the exchange is to use and how easy it is to navigate.
On the path to hopefully becoming a regular user of the HBTC exchange, it is of neccessity that I become a registered user first. And after a successful registration, I can say that the registration process is a simple one as you only need your email address to sign up and become a registered user.
The front page of the HBTC platform interface is listed with the popular cryptocurrency pairs and their current price, this will allow you to keep track of their value, so as to know when to purchase or sell off. And also trading pairs that have gained the most in 24hrs are also listed.
Further navigating on the exchange, I discovered that the HBTC platform features both Spot trading, a type of trading/exchange that you can perform in regard to the market price or a specific price chosen by you and Contract trading, which is different from the spot trading in that you place a trade on a particular pair at a price and as the price increases you make profits and vice versa.
I also found out that the HBTC exchange has its own native currency. Well, this isn't a shock to me, infact I'd expect nothing less because most exchanges out there also have their own native currency and I'm glad that the HBTC exchange is not exempted in this aspect. The native currency of the HBTC exchange is HBC(HBTC Captain Token). The advantage of a platform having its own native currency is that, it will be a source of revenue because as transactions are performed with the token, revenues are bound to be generated for the platform. It will also allow hodlers of the token take part in the sharing of the platform's profit thus, giving them more reasons to continually use the exchange, cementing their trust.
I also noticed that there's a fiat trading section on the exchange where one can make crypto transactions with Fiat currencies but it's not working maybe it's only restricted to the mobile app users. The mobile app of the HBTC exchange is available for both Android and iOS devices on Google playstore and apple store.
Also, scrolling through the exchange platform I discovered that the list of digital currencies listed on the exchange was quite numerous, ranging from the popular ones to the less popular ones. The HBTC exchange also supports the freezing of assets, should any user want to do so. In addition, I noticed that the exchange also features airdrop programs because I saw that an airdrop of a particular cryptocurrency is about to be featured on the platform.
Overall, the HBTC exchange meets the requirements any user, trader want in an exchange except for the popularity though because not much people know about it, though I'm guessing this competition is an attempt to publicize the exchange. And when I'm sure when the public learns about it, they won't hesitate to try it out. I believe that the HBTC exchange has what it takes to be more if it will improve on the services it provides.
Updated 3 years ago
Rating changed from 3 to 4
One of the major visible changes that has taken place on this exchange since my last review is the change of name. The HBTC exchange is now known as BlueHelix Exchange BHEX. Given the change of name, one can easily assume that series of changes and upgrades will follow such an action, and I'll do well to point out those changes in this update if there are any.
In terms of the exchange's interface, there haven't been much changes in the user interface since my last review, and for a fact, I still believe it needs an upgrade, one that's befitting of an exchange of this calibre. Hence, my rating on the user interface of this exchange remains the same.
I also mentioned the low popularity of this exchange in my previous review, but now I can say that its popularity is gradually increasing and more traders are getting to know about this exchange. This increase in popularity can be attributed to several upgrades and integrations taking place on the exchange. One of which is the joint investment of 2 popular exchanges, OKEX and Huobi along with other 50+ first class institutions, now you can realize why I said that BHEX has gained, and is still gaining popularity since my last review.
Another fantastic addition to the features of this exchange asides spot, margin and futures trading, is staking. Staking of tokens has become one of the prominent features on various cryptocurrency exchanges and it feels nice to say that BHEX is not left out in this aspect.
Another recent addition to the exchange is the official domain validation channel, that allows users to identify fake promotional ads from the real ones, so as not to fall victim to scammers who will want to ensnare users under the disguise of fake BHEX promotional ads. A feature worthy of being applauded has it shows that BHEX has their users interests at heart.
BHEX listing hunter is another amazing feature of this exchange. The purpose of this feature is to hunt and search for amazing blockchain projects in the cryptospace, and then foster an integration process with any project of their picking. The interesting part to this feature is that users, industry experts and professional traders can apply for the post of a hunter and will be employed upon meeting the neccesary requirements and of course it comes with its benefits. Successful recommendations by hunters are followed by amazing rewards and prizes. The application form is available on the platform for interested persons.
The BHEX Captain incentive scheme is another amazing feature that gives users the opportunity to benefit from various categories of incentives provided by the platform upon the fulfillment of certain criteria. An addition to the security and transparency measures provided on the exchange to safe guard users funds and assets as well as improve their credibility is the 100% Proof Of Reserve and transaction fees proof and utilization of a traditional finance-level infrastructure.
Another amazing development is the BHEX Chain. The BHEX Chain is the blockhain of the BHEX exchange which is developed based on decentralization and community consensus in order to utilize various technologies to solve security and trust issues encountered by centralized cryptocurrency platforms. This right here is a great innovation with an amazing use case, that will undoubtedly skyrocket BHEX popularity and influence in the cryptospace.
HDEX, BHEX DeFI zone is another innovative development, a Cross-chain decentralized exchange platform that has provided the opportunity to make token swaps across different Blockchains which are Tron, Doge, BSC, ETH, BTC and Heco blockchains, easily.
The BHEX wallet is another new development, provided for users to store their digital assets offline and private. The wallet is available in both iOS and Android versions and can be downloaded on the platform.
Time will not permit me to mention other amazing developments that has taken place on this exchange since my last review. Infact, there are a whole lot of them, which is a proof of BHEX growth and constant development. You only need a 1-minute registration process to become a user and have a chance to enjoy and benefit from these amazing features. I still believe there's more innovative development to come from BHEX and we haven't seen anything yet.
Pros
- HBTC exchange has its own native currency, the HBC token, which allow hodlers to enjoy discounts and other privileges on the exchange.
- The HBTC exchange is available for Android and iOS devices on Google playstore and apple store for easier usage and access to the exchange services.
- The exchange supports 6 languages which will allow easy understanding and navigation of the platform.
- The trading fees on the HBTC exchange is considerably low compared to other exchanges.
Cons
- The exchange's interface though simple is not satisfactory enough in terms of attractiveness.
- I learnt that Fiat currency deposits are not supported on the exchange.
- There's a restriction to users from the United States, although I don't know why this is so.
- The HBTC exchange has low popularity and the competition in the cryptospace is high and tense, so for HBTC exchange to be recognized, there's the need to provide distinct, exemptional services from the others.
