Christmas spirit has taken over the world and the festivities do not seem to be ending, with the New Year approaching in just a couple of days. While most of the industries are taking breaks for the holiday season, this does not apply to the cryptocurrency space.
Cryptocurrency market never sleeps and this holiday season is not an exclusion, with traders closely monitoring the prices of digital currencies on exchanges 24/7. One of the exchanges that are open and active and does not close its doors even on the New Year’s eve is BitMax.
BitMax Exchange: Overview
This Singaporean cryptocurrency exchange is one of the leading global digital currency trading platforms. At the moment, BitMax serves offers a variety of coins and trading pairs with three markets (BTC, USDT, and ETH). As per the data on Coinmarketcap, at the moment, BitMax offers trading in 183 pairs.
BitMax was established in August 2018 by Ariel Ling and Dr. George Cao with a mission to “support financial market innovation and advancement of the crypto economy through building upon a series of open and fair market rules to the liquidity of the overall market, enhance market depth, and support blockchain structural optimization.”
The exchange has its own native utility token, BTMX, and it is the primary unit of exchange on the platform. BTMX has a total supply of 10 billion tokens and can be mined on the exchange or bought via BTMX/USDT and BTMX/BTC.
BitMax also offers spot and margin trading, as well as it serves institutional and private investors, and professional traders. Moreover, the platform provides an opportunity to make use of OTC trading and transaction fee mining.
BitMax Features
BitMax, aside from being one of the top-rated cryptocurrency exchanges, has been dubbed as one of the fastest-growing digital currency platforms in the world. What are the features that allow this exchange to deliver on its promises?
Innovativeness
BitMax prides itself on being innovative. Its blockchain-driven user-based value exchange system boosts the efficiency of the platform and, eventually, improves the cooperation across all levels.
Its unique financial products, such as BitTreasure, have been driving the success of the platform. BitTreasure is a form of digital asset that offers stable returns through a number of token investment options. You can read about BitTreasure in more detail here.
Low Fees
Low Fees
BitMax’s trading fees are one of the most attractive factors for the traders that chose this platform. In addition, the exchange features low withdrawal fees.
BitMax Trading fees
The exchange charges a flat fee of 0.04% per trade. This is considered to be a very competitive fee, with the global industry average standing at around 0.25%.
BitMax Withdrawal Fees
BitMax charges 0.0005 BTC for BTC withdrawals, which is also slightly below the industry average (approximately 0.0008 BTC).
Security
Security
BitMax has a 3-level KYC system that is responsible for keeping the exchange’s users safe and secure. In addition to this, employees of the exchange are monitoring the trading activity on the platform with the help of AI algorithms to spot any unusual transaction.
Following on this, BitMax features Strict-Transport-Security and X-Content-Type-Options to boost its security strength.
Recent Listings on BitMax
Even though this exchange already offers a substantial amount of coins and trading pairs, it continues to regularly update its list of cryptocurrencies. Here are some of the recent additions to BitMax’s trading portfolio.
Elrond (ERD)
On August 20th, 2019, BitMax announced that is commenced the trading of the Elrond (ERD) under the trading pairs of ERD/USDT and ERD/BTC. The pairs are only eligible for regular trading and Reverse-Mining.
Once the trading began, BitMax launched 2 promotional events to celebrate the listing. The first one, ERD Airdrop to newly-registered users, went on for a week after the trading started. ERD BitTreasure, the second event, was running from 10:00 a.m. EDT on August 21st, 2019 to 10:00 a.m. EDT on August 27th, 2019.
Wanchain (WAN)
Bitmax did not wait too long before it decided to list another coin, Wanchain (WAN) on the September 1st, 2019. Just like in case of ERD, the exchange launched two promotional events for a limited time.
This time, BitMax announced the Net Deposit Contest, which featured rewards multiplied for referrals. The event ran from 10:00 p.m. EDT on September 1st, 2019 to 10:00 p.m. EDT on September 7th, 2019.
During this event, the top 50 users ranked by Multiplied Net Deposit ≥ 2,000 were given the chance to share the reward.
Another promotional event started on September 3rd and went on for 6 days. During the Referral Trading Contest, users with Referral Trading Volume ≥ 4,000 WAN were offered to share the reward of 100,000 WAN equivalently based upon the entire WAN collected trading volume from all qualified users.
Nervos (CKB)
At the end of November, BitMax moved to list yet another coin. The trading of Nervos (CKB) under the trading pair of CKB/USDT began at 10:00 a.m. EST, Nov 20th, 2019. To mark the listing of the coin, the exchange launched the CKB trading rebate.
Tokoin (TOKO)
The latest listing on BitMax took place on this Christmas Day. The exchange announced the listing of Tokoin (TOKO) under the trading pair of TOKO/USDT, with deposit and withdrawal order starting at 10:00 p.m. EST on Dec 25th, 2019.
Trading of Tokoin token began on December 27th at 10:00 a.m. EST.
Following its tradition, BitMax announced the launch of three promotional events to celebrate the listing: Airdrop, Net-Buy Contest & BitTreasure with the chance to share 620,000 TOKO reward (equivalent to around 50,000 USDT).
TOKO Airdrop to Newly-registered Users
The event takes place from 10:00 p.m. EST, Dec 25th, 2019 to 10:00 a.m. EST, Dec 29th, 2019.
During this event, the first 2000 new users that register with the event link and finish the KYC V1 will each receive a reward – 50 TOKO tokens. For those with KYC V1 and the trading volume (Buy Quantity + Sell Quantity) exceeding or equalling 1,500 TOKO before the conclusion of the event, there will be another reward of an additional 50 TOKO tokens.
Net-Buy Contest
The exchange will run this event from 10:00 a.m. EST, Dec 27th, 2019 to 10:00 a.m. EST, Jan 2nd, 2020.
During this promotional event, the top 50 users ranked by Net Buy Quantity (Buy Quantity – Sell Quantity – Withdrawal Quantity) ≥ 4,000 TOKO will get a chance to share the reward pool equally based upon the net-buy quantity. Check out the schedule here.
TOKO BitTreasure
TOKO BitTreasure runs from 10:00 a.m. EST, Dec 27th, 2019 to 10:00 a.m. EST, Jan 2nd, 2020.
Click to subscribe to TOKO BitTreasure: https://btmx.com/#/finance/financeList
Check out the terms and conditions in this article.