The love for the new brand known as Bitmax has been growing across the trading niche, with a unique approach to solving some pending the issues in the exchange community. BitMax.io is a global operator of innovative digital asset trading platform with a broad range of products and services for global retail and institutional clients. Their concept is one that stands out among the rest, with an autonomous process that enables users to participate in the day to day activities of the platform. One of such unique features is the integration of a process known as the Transaction Mining and Reverse Mining, of which i will discuss below.
Transaction mining : Normally when it comes to other exchanges, the transaction fee (which is a fee gotten from orders and taken by the exchange involved), is deducted when a trade is made or placed but in the case of bitmax, they deduct the transaction fee but this time around, they don't keep it as their own, rather they distribute it back to users of the platform, in the form of BTMX ( which is the name for Bitmax tokens). The tokens are used in the form of incentive within the platform, this process reduces the transaction fee to the lowest minimum, as oppose to other exchange platforms.
The second part of the concept that even makes it more fun is the Reverse Mining, though a little complicated but
i will keep it simple, so what's the process all about?, well, the model basically manages the overall supply of BTMX tokens to help curtail the issue of excess in circulation. The reverse mining process refers to the process where a trader receives BTMX tokens after paying for transaction fees for the trade being carried out, you first earn trading commission through the execution of Maker trades.
Bitmax divides trade into 2; The MAKERS AND TAKERS, lets distinguish the two. The makers just as its name implies, refers to those traders that make the BTMX tokens, they make the tokens through mining, which has been described above, orders are placed, which gets listed or sits on the order book waiting to be matched, their orders are never filled when made while takers have their orders filled before they get to the order book, this process denies the takers from mining the BTMX tokens.
Trading in bitmax was designed to make trading fun and enables users to be actively be involved in the smooth running of the platform, such promotes healthy liquidity. The main concept of the brand is to create an autonomous community and the transaction/reverse mining model made that concept come to life. The model creates transparency and fairness within the platform. Moments after launch of the mining process, their user base increased sporadically within few hours. The team is pretty confident enough and the platform can boost of speeds of up to 400,000TPS, which is one of a kind in the exchange niche. The platform is flexible enough and does not restrict users to the stated models, as users have the options of trading on a regularly basis as seen in other platforms.
Security is of utmost importance and to ensure proper security management system, the team has into cooperation with a third-party independent security firm. This and other security measure installed will enable the platform to be safe and function efficiently without fear of getting into trouble by unknown forces or unforeseen circumstances.
The community is really excited about the bitmax trading exchange and with the team's creative process, we expect to see more updates coming up sooner or later, the community is increasing by the day and to be part of the community, do click on any of the links below.
Website: http://www.BitMax.io
Twitter: https://twitter.com/BitMax_Official
Reddit: https://www.reddit.com/user/BitMax_Support
Telegram: https://t.me/BitMaxioEnglishOfficial
Medium: https://medium.com/@support_2385