Review on Bibox Token by Efughi Lucky

Name: Bibox Token
Item: Bibox Token
Rating: 4

August 27, 2018

Bibox is yet another new kid on the block that first set out to cater to the…

Bibox is yet another new kid on the block that first set out to cater to the Chinese market; however the exchange has grown quickly in popularity and gained traction with international traders. Bibox provides a decent trading platform that aims to allow its users gain a similar user experience to using sites such as Binance and Huobi.
The team look set to try and grow their market share by incorporating features such as margin trading, open spot transactions, and various AI based data algorithms. The site currently makes use of a memory matching system that helps deliver speeds in the region of megabits per second, and provides users with unified market entry/exit data, as the platform filters out a large amount of alt currency data, and provides users the most efficient deals available at any given moment.
Due to the lack of information regarding the founding team, and the fact that Bibox is not a fully transparent and openly compliant exchange, it may not be for everyone. However, the exchange will suit traders looking to trade in harder to find coins and who are also interested in some of the advanced data features and possible margin lending feature. The efficient nature of the platform and choice of trading screens means that Bibox is a viable option for both newer and more experienced traders, however, due to its relative youth it may be better suited to the more experienced members of the cryptocurrency community.
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Pros

ibox is a crypto to crypto exchange based in China that was established in 2017. There are various online sources stating that the exchange was founded by the former employees of companies such as Binance, OKCoin and Huobi. The team is said to include the co-founder of OKCoin and founding members of Huobi, however, the company does not provide any real information regarding the make-up of its team, and as a result, this information has yet to be confirmed. In addition to providing access to a wide range of altcoins, Bibox also utilizes AI enhanced and encrypted algorithms that assist traders in performing trades and transactions. Despite only starting in 2017, Bibox has proved to be very popular, and is already generating a significant amount of trading volume. There are currently over 60 coins listed on the exchange, with 145 market pairs linked to the 5 base currencies of BTC, ETH, USDT, DAI and BIX being available. Bibox is currently a top 10 exchange in terms of both BTC and overall daily trading volumes and is currently generating approximately 33,000 worth of BTC trades a day. The exchange is also generating approximately $250m worth of trading a day and this number is currently being dominated by the BIX/ETH pairing which currently accounts for over $66m worth of daily trades. The ETH/BTC and BIX/BTC pairings also generate over $30m worth of daily trading each. The Bibox team have developed an easy to use platform, with an intuitive user interface that allows users to conduct their trading activity in a manner that is similar to platforms such as Binance, which is the world’s leading exchange. In order to attract traders to its platform, Bibox also makes use of a number of significant key features. Key Features Functionality – Bibox utilises a web-based trading platform, and features an easy to use and intuitive user interface that has a wide range of functions. Features such as order book, trading history, and responsive charts are included, and the platform also allows traders to choose from a basic or full screen more advanced interface. The platform also includes a number of more advanced technical analysis indicators. Technology – The Bibox team strive to be technologically advanced and use AI based modules and other smart tools to allow for swift and reliable automated trading. The team also allow for API integration with other trading services and provide a PC and Mac desktop client, as well as a mobile app for both Android and iOS users. Trading Options – The exchange provides a good range of trading options and users have access to a large number of coins, limit and market orders, and a simple fee structure; with a 0.1% trading fee for all users. Traders can also receive a 50% discount on transaction fees if they pay with BIX when trading any token on the Bibox platform. Customer Support – The site is available in English, Chinese, Russian, Korean, and Vietnamese. In addition, a support team is available to deal with any issues 24/7, and users can contact the team by opening a ticket in the Support Section. The Bibox team can also be contacted via their Twitter account, Telegram group, and Facebook page. There is also an FAQ page in the Support Section that addresses the most common issues, as well as a number of clearly written Guides that help users to navigate the platform.

Cons