In the current cryptocurrency exchange landscape, it can be hard for investors to gain access to good market liquidity for their holdings since most exchange platforms have a standardized listing and trading policies for ICO tokens. Not only that, hardly any of today’s exchanges provide customers with ‘security lending services’ or come pre-built with trading strategy tools to assist novice investors with their dealings.
Additionally, more and more exchanges are developing tools designed exclusively for institutional investors, leaving the core retail investors without many good tools at their disposal.
One cryptocurrency exchange that is hoping to address these issues is Bibox, an all-new ‘smart asset exchange platform’ that utilizes an advanced distributed cluster system to help manage large-scale asset trading. In terms of the tokens that are selected and displayed on the platform’s primary exchange portal, each currency is examined by experts in conjunction with Bibox’s proprietary AI protocol. Based on the results of the aforementioned evaluation, Bibox is able to weed out scammy projects and thus select only quality digital assets to list on its system.
Interested in Bibox? Here’s a quick rundown of the project:
Platform & Development
Bibox makes use of a web-based trading platform that comes loaded with a host of intuitive features that can make life easy for any trader. For example, the dashboard comes built-in with an order book, trade history module, and an array of responsive currency charts that reflect price changes in real-time. For more advanced users, there is an option to switch to a full-screen mode wherein a host of more complex tools are made available to the trader.
From a platform technology standpoint, Bibox’s primary selling point is its use of an AI-based operational module that allows for swift and reliable automated trading. These AI products include Planned, Conditional, Iceberg, TWAP, and Stop Loss/Gain orders.
The core dev team has also made it possible to integrate the native API with other trading services, thereby increasing the overall usability of this platform.
Bibox can be used on a PC, Laptop, Mac as well as on smartphones via the native Android and iOS apps. Bibox supports more than 35 tokens and 112 trading pairs as of June 2018 and claims they have an AI system responsible for selecting listings for new tokens.
Bibox is also planning on launching a decentralized exchange once it hits a critical number of users. This exchange will be fueled by the Bibox Token (BIX), which has a few additional utilities, including acting as required payment for listing fees and as a ticket for ‘VIP’ applications on the trading platform. Bibox plans on burning BIX until it reaches 200,000,000 total circulating.
Some of the additional key aspects of Bibox’s platform that deserve a mention include:
- Diverse Trading Options— The exchange provides customers with access to a large number of alt-coins, limit and market orders, market strategies etc.
- Reasonable Fee Structure— Bibox only charges a nominal 0.1% fee on all trade based transactions. Additionally, users can receive a further 50% discount on transaction fees if they choose to use native BIX coins to facilitate their trades.
- Trading Leverage— In addition to spot trading, Bibox offers 5x, 10x, and 20x leveraged trading for trading and contract trading. Bibox also supports security lending (coin lending).
The core team behind this project consists of Chinese blockchain magnates including Jason He, Jeffery Lei and Michael Wang. However, it is the company’s advisory board that really stands out. It includes people such as Tom Budd, the founder of CoinStrategem, EtheraLabs and Dark Star Ventures, as well as Elie Galam, a mathematician and alternative investments expert who has also served as an advisor for various high-profile ventures including Bancor.
Bibox provides its customer base with a feature loaded trading platform that can be compared to other big-name players such as Binance and Huobi. However, a lack of information regarding the founding team members creates some transparency issues and may keep some investors away from the platform.
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Disclaimer: The author(s) of this article may have a position in one or more of the cryptocurrencies mentioned above. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.