Review on Bibox Token by Fabrizio Zampieri
Bibox is a cryptocurrency exchange developed mainly in the Asian market. The…
Bibox is a cryptocurrency exchange developed mainly in the Asian market. The platform has adopted many of the Binance features and is ranked among the top 25 exchanges on coinmarketcap. Bibox has a native token (ticker symbol is BIX).
Bibox is an enhanced encrypted digital asset exchange.
The Bibox platform employs the most recent and advanced distributed cluster system and this makes it able to handle a large number of users (more than 10 million).
Bibox Token is based on Ethereum blockchain and uses the ERC20 standard. By holding the BIX token investors get to receive 20% of the Bibox exchanges profit. The platform also offers investors discounts on trading fees which start at 50% for the first year. The discount reduces until the 4th year when a trader receives 6.25% discount on fees.
The BIX token was listed in late December 2017 (the price of the token was in the range of $0.6, with its peak at $4.08 on January 7th 2018).
Pros
- - Professional and experienced team: Bibox team is made up of adopters of blockchain technology, professional securities traders, venture capitalists, high-tech angel investors, A.I experts and cryptos enthusiasts. - Strong functionalities: platform can match trades with a huge amount of trades per second. The goal of the platform is to offer also quantity computations, analysis on trading and risk management. - Bibox is one of the few cryptos which are relatively new and which have had high volumes throughout. - The team intends to make the platform completely decentralized over time.
Cons
- It is not very clear whether Bibox token holders must trade at least once per week on the platform or not in order for them to receive the 20% profit. Bibox is a young project and there is still a loto of work to do... As with any exchange centralized, the risk of hacking is very strong.
