Hello friends, brothers, and sisters. Today I want to make a short review of the next big crypto exchange (at least in my opinion). I have found my passion and it's crypto, therefore my posts will mostly be about cryptocurrencies and everything else that has to do with crypto.
Disclaimer
I am certainly not a pro in this arena and everything I will share in this post and all the coming ones are my own personal opinions. I am not a financial advisor and I will not tell you what to do or not do with your money. It is your money and you can spend it any way you like on whatever you want to spend it on. What I write about is what I believe in and what I am willing to risk my money investing in.
I highly recommend that you go out there and do all your due diligence, read, watch analyze, criticize and formulate your own opinions then decide whether you want to get involved in a certain project or not.
Ok, now that's out of the way, let's talk about the exciting platform that I stumbled upon while I was doing some due diligence. If you have been with steemit for a while, I would think you have had to deal with an exchange of some sort. It could have been Bittrex or Poloniex or any of your local exchanges. You have probably exchanged your Steem or SBD for some BTC or Litecoin or Etherium so you can easily convert your crypto to fiat for spending.
Exchanges are great and very useful platforms. Without them, crypto would not be enjoying the success that it is going through right now (of course it's not all roses in this field). These markets are extremely volatile and anyone getting involved needs to be very careful. We can all sit and argue the whole day about which is the biggest exchange in the world, at the end of the day, it boils down to each individual, it depends on what works for you at that moment. Every time I have to sell or buy crypto, I search around for the best deals and I have dealt with multiple exchanges trying to find one with the most competitive fees and is easier to use but most importantly, support the coins that I would like to trade.
Bitrex, Binance, Kucoin and many others have carved their own spaces and have a certain market share, but more and more exchanges are being created every day. Some do their best to set themselves apart and shine in this fast saturating arena. Some of the older ones do not have their own tokens or coins, but most of the latest ones have done an ICO and have their coins which give certain benefits to the holders, from discounted fees to no fees at all on trading.
Introducing Bitto
Image SourceBitto is the "First innovative cryptocurrency exchange platform" that offers 6 different ways to profit.
Bitto will be one of the biggest exchanges in 2018 and here is why; they are setting themselves apart by offering the most services ever offered by any exchange to date.
- Crypto Trading
- Lending
- Stacking
- Borrowing
- Signals
- Referal
To break it down further, with trading you can buy and sell cryptos and make some really good profits if you know what you are doing. If you are a newbie then it is not recommended that you trade on your own because crypto markets are very volatile and you can get burned badly. The fifth income stream will be the best for you, in this case, getting signals from experienced traders, copying their trades and making proportional profits to what they are also making.
You can stake your Bitto coins on the exchange wallet for a minimum of 15 days and make some nice passive profits. They are giving away up to 3 million coins for two years to stakers.
They provide lending, not the kind of lending done by lending platforms like Davor, but this is peer to peer lending where you can earn interest up to 18% per day (I know that is huge, I don't know if it will work) as traders make profits with your money. They use the same system used by Poloniex but with better interests. I don't know if borrowers will be willing to pay such high-interest rates but it is a very nice way to earn passive income. ICO participants (those who will buy their coins during the ICO stage which is currently underway) will get top priority when it comes to interest rates. They are encouraging people to be early adopters to get some awesome benefits besides the appreciation in value of their coin holdings.
Borrowing, well this is not exactly a way of making money, but you can borrow money directly from peers and use your Bitto coins as collateral, receiving local currency in your bank account directly. When you pay the money back with interest, the lender gets to make some nice interest while you get to keep your crypto which could have been appreciating in value during the lending loan term, a win-win for both parties.
Their referral structure is highly rewarding, you get to receive 20% of the commission that your referral pays when trading and if you are an ICO participant once again you get a bigger chunk, 60% of the commission will be paid out to you. If this is not a motivation enough for you to get involved in their ICO, I don't know what would be. There are actually many more benefits for ICO participants like free trading and early access to the mobile app. The more you invest the more the benefits you get.
They will be doing buybacks and burning their coins and thus shrinking the supply and ultimately increasing the price of their coins.
If this sounds like something that interests you, head over to their website and do your dd, read whitepaper and make your own decision. Personally, I am very excited about this platform and I can't wait for it to come to fruition. Just to make it clear, they are still in ICO phase so do not expect a working product until Q3 of 2018. It could, however, be to your advantage to get in early, you could 10x or 20, 30x your money in half a year.
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