Introduction
There is a new exchange called Bitibu which is live at the moment. This article will give general information regarding the exchange on subjects like, features, market cap, pairs, circulating supply, repurchase and burn plan and bounty program.
Bitibu is a brand-new exchange which focuses on both fiat and cryptocurrency exchange as opposed to most of the exchanges does. This makes investing into cryptocurrencies easy. The exchange will ultimately have multilingual interface which will make it global. Initially there will be 400 million of BTB tokens available in the market. This is a fixed amount and it will not increase but, there is a buy-back program in which part of the circulating supply will be bought back from the market and burned. This program will continue until there is only 200 million of BTB left in the market.
Although it has just started to be traded at August 30th, current market cap of BTB is over 15 million USD on September 13th. The price have shown a steady increase of 50% and reaching 8 cents at the time of this writing. 24 hours volume is over 7300 USD at the moment.
Features
Bitibu Exchange will provide cryptocurrency traders with advanced trading features. These features will be powered by Bitibu technology and based on an order engine which achieves low latency performance. The order engine provides indicative prices for the markets and traders are able to either fix the amount or the price of currency for any order.
Multilingual Support
Although the initial version of the exchange is only English, ultimately the exchange will have user interfaces in both English, Turkish, Spanish, Indonesia and Azerbaijan languages. More languages will be added over time.
Trading Pairs
Currently there are 39 pairs which are tradable in the Bitibu Exchange. There will be more pairs to be added to the exchange in time through voting system and by paying fees.
• Among them 18 pairs are XXX/USD, pairs. These fiat pairs are as follows:
BTC, LTC, ETH, NANJ, DOGE, BTX, DASH, BCA, DGB, XSN, BTG, GLD, RUP, VIA, BCN, BTB, THR and QSHC.
• There are 17 cryptocurrencies which could be traded against Bitcoin in the Bitibu exchange:
LTC, ETH, NANJ, DOGE, BTX, DASH, BCA, DGB, XSN, BTG, GLD, RUP, VIA, BCN, BTB, THR and QSHC.
• In addition to these there are four ETH pairs in the exchange:
NANJ, LTC, BTB and THR
• After the presale ends at 1 October 2018, BTB pairs will be available for trading:
LTC, NANJ, DOGE, DGB, DASH, BCA, BTG, GLD, VIA and THR.
And there will be more pairs to be added later
Future Features
Along with the present trading features the platform will have additional features in the future. The developer team is constantly working on these features as follows:
• ICO Platform
• Bitibu Debit Card
• New Friendly Design
• Android & iOS support
• Margin Trade & Lending
In addition to these, more features will be added in time.
Tokenomics
BTB is an ERC20 token. Total amount of 400 million BTB coins will be distributed according to the following tables:
Currently Presale period is live until September 30th. Investors will be able to buy BTB with using ETH, BTC and USD according to the following table:
Minimum contribution amount have been determined as 0.1 ETH and the details regarding the purchasing process could be found in the whitepaper.
Listing Policies
There are two possible ways for a coin/token to be listed on Bitibu Exchange. It could be achieved through voting system or by paying listing fee. In order to participate in voting system some amount of DGB needs to be deposited to the specified wallet address. In order to increase odds of taking one of the first 3 positions in the voting list, at least 100000 DGB needs to be deposited. When the voting process ends and the winner is determined, it will be announced through the official Bitibu Exchange social media channels.
Listing fees will mostly be used to improve the Bitibu Exchange.
However, there are strict rules regarding delisting a coin from the exchange. These need to be followed and will be monitored constantly by the platform to ensure compliance. If for any reason a violation is detected then Bitibu would remove that cryptocurrency or market from the exchange either in 14 days or immediately.
Bounty
There is a bounty program open at the moment offering 4 million of BTB at the moment. Details could be seen from the Bitcointalk thread.
Conclusion
Bitibu Exchange have chosen to be a platform where there are both fiat and cryptocurrency to be exchanged. This is a great advantage for the exchange where investing in cryptocurrencies made easier. There are 39 pairs which could be traded at the moment and additional BTB pairs will be added after October 1st when the presale ends. More pairs will be added in the future also. As the exchange becomes more popular, the value of BTB will increase too which is good for BTB holders.
The listing policies are strict. Most of them either trying to protect users interests or the reputation of the exchange which is good. This way valuable projects would be listed on the exchange which will add value to BTB holders and platform itself.
Total supply is 400 million and will ultimately 200 million after buyback and burn program ends. Both numbers are very good which would provide price increases and decreases moderately fast which would enable trading with BTB to be profitable with couple of trades a day. This feature is also will add value to the token itself.
The only improvement point of platform would be the current design. The design needs to be improved in order for better user experience. We know that the team is working continuously to improve the features though.
Important Links
Website: https://bitibu.com/settings
Whitepaper: https://bitcointalk.org/index.php?topic=5025336.0
Bounty: https://bitibu.com/languages/Whitepaper.pdf
BTB Coin: https://bitibu.com/bitibu-coin
Coingecko: https://www.coingecko.com/en/coins/bitibu-coin
Livecoinwatch: https://www.livecoinwatch.com/price/Bitibu-BTB
Coinpaprika: https://coinpaprika.com/coin/btb-bitibu/
