INTRODUCTION
The world currently is undergoing rapid changes as a result of the contributions of technology and its products, and the world of finances has also seen some changes. Cryptocurrencies was first launched by Satoshi Nakamoto with bitcoin as the very first cryptocurrency to be generated. The blockchain technology has been embraced by most people especially the crypto community to the extent that, currently there are numerous cryptocurrencies that have been generated for example Ethereum, Litecoin, Ripple, DASH etc. with several ICOs going on which would also generate new cryptocurrencies.
The combination of both fiat currencies and digital currencies led to the development of exchange platforms where fiat currencies can be used to buy cryptocurrencies. Also, some people invest into cryptocurrencies and therefore by looking at the current rates of the digital currencies they can purchase those digital currencies with other ones. Among the existing exchange platforms are Binance, ForkDelta, Okex etc. These exchange platforms have served us for quite sometime now but have we ever asked ourselves whether their services are enough? You know the answer just like I do myself and it is no because we all testify of some challenges that we go through as cryptopreneurs anytime we are making transactions on these exchange platforms.
** SHORTFALLS OF CRYPTOCURRENCY EXCHANGE**
Inadequate Security
Most exchange platforms these days are not secured and are susceptible to the attacks of cyber fraudsters and hackers. Because of the volatility of cryptocurrencies some cryptopreneurs decide to set high prices for the tokens and decide to wait for a high price sell. This notion under all circumstances is very laudable as these cryptopreneurs understand the system of cryptocurrencies where their prices fluctuate with time but it sad to know that some exchange sites can be hacked and when this happens customers lose their funds. Quite recently, Coinrail a small crypto exchange platform was hacked and the accumulated loss was $40,000,000 which include several tokens that were stolen by these hackers. Even though the according to report the management team decided to refund the loss amounts you can just imagine the financial loss that is going to be incurred by the team of the exchange platform.
Cumbersome Sign up Process
How difficult should it actually be for a simple sign up process on an exchange platform? This has been the case of some exchange platforms that I have once traded on but due to confidentiality sake I would not like mention any name but I am sure you also have some in mind yourself. Signing up on some exchange platforms require your account details to be verified before a cryptopreneur can start using that account. The verification of an account is actually a good thing but then the manual process that is used by some exchange platforms in the verification process makes it take a longer period before they can trade on such platforms. Imagine you find yourself in such a situation after the very first listing of a potential cryptocurrency and the market price has really risen for you to sell some and gain profits and you happen to be in this situation. I really don’t have to talk much about the feeling because it is so frustrating and disappointing.
Poor and Complex User Interface
The interface of some exchange is not simplified at all and becomes very difficult when it is your first time trading on such platforms. When exchange platforms are not basic for the average crypto noob to even be able to trade on such platform it becomes a bit difficult when users are trading on such platforms. Personally, I have been a victim of a situation where a coin of mine got listed at a very cool price but because user interface of the exchange platform was quite complex I could not actually sell my coins at that time the market was high. The crypto community needs an exchange platform that is very simplified with well-defined tabs and links that directs the user what to do when making any transactions.
Poor Customer Support
Aside the insecurity and poor user interface that some exchange platforms have poor customer support systems to the extent that complaints that are reported with respect to any technical issues take days to be rectified or are not even attended to. These leave customers to their own fate whenever they face challenges when making any transactions on such platforms. Users sometimes lose their hard-earned monies as a result of not knowing what exactly what to do when conducting transactions on such platforms.
The above problems and many more generates many bad criticism about the crypto community and its transactions which in turn dwindles the efforts of crypto enthusiasts in making cryptocurrencies to be legalized in our world.
Language Restriction on most Exchange platforms
Cryptocurrencies ever since its inception in January 2009, has seen a tremendous growth and it is being adopted by many people across the globe. The mass adoption of cryptocurrencies should just give you a hint that several people with different languages would all be visiting exchange trading platforms but it is rather unfortunate that the majority of exchange platforms that exist are English based platforms. This language restriction system makes it difficult to non-speaking crypto enthusiasts who might want to trade on such platforms.
THE SOLUTION BITHEMOTH OFFERS
High Security Ensured
Security is of a great concern when it comes to the crypto community and the activities involved. Bithemoth exchange platform would provide users an exchange platform that is fully secured from cyber fraud and hackers. This is to ensure that users on this platform have their funds safe on the exchange platform without any fear of being stolen. Bithemoth would provide its members with one of the advanced security systems which would make it apparently impossible any third-parties to have access to the account of members of Bithemoth Exchange platform. To do this Bithemoth Exchange platform will use the Two-Factor Authentication system to ensure that all transactions are being done by the right user who registered on the platform.
The best part of this security system is that, Bithemoth’s would not be using just the normal 2FA Authentication system but rather the Fast Identity Online Universal 2nd Factor (FIDO U2F) which will help secured the funds of members on the Bithemoth Exchange platform. I am personally perplexed by all the security features that is being installed on this exchange platform and it blows my mind when I got to learn more about another security feature on the platform. Bithemoth Exchange platform has a digital physical wallet called Cold Storage Wallets which is inaccessible by any third-party without the user’s authorization. This would serve as a reservoir for bulk cryptocurrencies that users have traded into their portfolios so that in case there is a general security breach unto the exchange platform (which I strongly doubt would happen looking at secure this exchange platform is designed) hackers would not have access to the funds of members in the reservoir but only few cryptocurrencies that may be in the order section of the exchange platform.
Quick and Easy Sign up Process
Registering on the Bithemoth exchange platform would be as easy as ABC with simple steps. Members data would be validated within the shortest possible time so that users can start with their trading activities.
Provision of a friendly User and Programming Interface
Bithemoth acknowledges the fact that not everybody in the world has full knowledge about cryptocurrencies and therefore have purposed to design a user interface that is very friendly and understandable to even a crypto noob. Bithemoth exchange platform will use the ReactJS user interface and also would be programmed using TypeScript, NodeJS and Express. This user interface would help facilitate transactions that occur on the exchange platform hence better customer satisfaction. Bithemoth goes the extra mile by providing videos which would better assist users who would have any difficulty navigating through the exchange platform explaining all the features of the exchange platform.
Provision of a Regular Technical Support for Members
Bithemoth takes into consideration the importance of a back technical support that would help users out anytime they face challenges on the exchange platform or need assistance of any form. You can never be so sure when it comes to dealing with people from different background and with different level of knowledge no matter how simplified your system or platforms is. Aside the friendly user interface that Bithemoth provides, they also have available an online support which is available at all times to assist users in their transactions.
Multilingual Support System
There is no doubt that English is the dominant language that is spoken in the world but that should not really make us think that all cryptopreneurs are English speaking people. Bithemoth exchange platforms is built on an multilanguage system whereby users can choose among the major languages in the world such as English, French, Spanish, Portugal etc. This would go a long way to promote the success of Bithemoth exchange platform to a global trading platform other than the geographically existing ones in the cryptospace today.
There are a whole lot of packages that Bithemoth Exchange platform offers and its amazing features that could not be contained in this article please refer to the whitepaper for more information.
TOKEN DETAILS
The native cryptocurrency of Bithemoth Exchange platform is the Bithemoth Coin (BHM) and it is a standard ERC 20 token. The maximum supply of BHM that will be in the cryptospace is 200,000,000 and little portions will be burned from time to time which would further increase in the demand of the BHM coin hence increasing its value as time goes on.
TOKEN SALES
ROADMAP
TEAM MEMBERS
This project is supported by a group of individuals that have the skills and knowledge into the developing of an exchange platform that will serve both crypto enthusiasts and cryptopreneurs in the very best way. Below are a few of them please refer to the whitepaper or website to get information about the whole team behind this project.
CONCLUSION
There are several exchange platforms that exist in the crypto community but to be honest I have not seen any of a kind that can really compare to the standard Bithemoth Exchange platform is about raising in the cryptocommunity and I am sure all the reputable exchange platforms that are already in position will upgrade their platforms to meet that of Bithemoth Exchange platform. Bithemoth Exchange platform is all about security, simple user interface, constant customer support 24/7 and making trading affordable by every body across the globe who is into cryptocurrency investment. Just as the hemoth is described in the bible as a vary strong and brave animal so is Bithemoth Exchange going to fight its way to be the best Exchange platform in the crypto community. Join the Exchange platform that serves you better in a with the state-of-the-art features.
For more information about this project please refer to the following contact lines:
Website: https://bithemoth.com/
Whitepaper: https://bithemoth.com/whitepaper.php
Telegram: https://t.me/bithemoth
Facebook: https://www.facebook.com/bithemoth/
Twitter: https://twitter.com/bithemoth?lang=en
Medium: https://medium.com/bithemoth-exchange
Youtube: https://www.youtube.com/channel/UCndzKrOwSjnWVQQCnthWoNA
Reddit: https://www.reddit.com/r/Bithemoth/
Linkedin: https://www.linkedin.com/company/bithemoth/
Authorship
Bitcointalk username: Kelvinikke
My Bitcointalk profile link is https://bitcointalk.org/index.php?action=profile;u=2087374
DISCLAIMER: This is part of the Article Group