Review on BitMax Token by The hsotaka
My review about BitMax Token.
I did some research on the bitmax token and today i want to share the things i experienced with you.
Bitmax Token is the native utility token of the BitMax Exchange. Its an ERC20 token, so it's running on the Ethereum blockchain.
You can buy Bitmax Tokens on the Bitmax Exchange, Probit or Idex. But be aware that there is only volume on the Bitmax Exchange for this token.
Bitmax promises a huge annual return of USDT if you deposit and hold Bitmax Tokens on their exchange. Up to 20%.
This seems to be really suspicious to me, because no asset can guarantee such a high return. Also when Bitmax Exchange launched, they attracted attention by submitting crazy trading volumes to CoinMarketCap. So suddently there were a new exchange which has three times higher trading volumes than any other exchange.
If you are a fan of Bitmax Exchange and you want earn great annual rewards by holding the token, you can try it out.
I would be very careful with this exchange and its token.
Also be very careful with native tokens which are only listed on the own exchange. You won't have the chance to sell it elsewhere if there is any problem with the exchange.
Pros
- Utility token of bitmax exchange with benefits on the exchange.
- High trading volume of BTMX on Bitmax.
Cons
- Not usable outside of Bitmax Exchange, no serious exchange listed this token.
- Bitmax promises a annual return of 20% if you hold the token on the exchange. I really wonder how they will reach this rates.
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Comments (1)
August 06, 2020
Hello, Hsotaka. This project remains still in the market without major changes. The company should think and assess possibilities to improve all their offers. I also recommend not to invest on it.
