Hello readers, I hope you all are doing well. Today, I want to introduce you to the HiBTC platform, hopefully you have heard about cryptocurrencies and somewhat have some experience dealing with them and trading on cryptocurrency exchanges. I’d just give a brief definition of what a cryptocurrency and a cryptocurrency exchange is, in case you do not know what they are or have any prior experience dealing with them.
A cryptocurrency is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.
A cryptocurrency exchange is an online platform that allows you to exchange or trade one cryptocurrency for another cryptocurrency (or for fiat currency). Cryptocurrency exchanges today are used to exchange crypto assets between traders, it kind of works like the traditional stock exchange we know, just that instead of stocks, crypto is being exchanged. The crypto exchanges have attracted a lot of investors and traders alike to the crypto space with its obvious perks like the high profit-making margins that exist due to the volatile nature of cryptocurrencies which cause a massive swing in the value of assets and is potentially a swifter alternative for making profits. For instance, investors who bought bitcoin during the massive dip at early February for $6000 and sold at mid-February for $12000 realized gains of 100% in just a short amount of time. There’s also the fact that cryptocurrencies are available to trade 24/7 unlike traditional exchanges that have a time frame at which they open each day.
But even with all the perks that come with these new crypto exchanges, there are not without flaws like security risk, high trading and withdrawal fees, poor user-friendly interface as well as no compensations whatsoever for the frequent traders and users of their platform. Recently I came across an exchange called HiBTC, it has a structure in place to make the crypto-trading experience improved and worthwhile. HiBTC plans to rattle the traditional exchange model by developing a new type of digital asset exchange that is secure, easy to use, transparent and organized. Note that this exchange is not in any away affiliated to the hitbtc exchange.
HiBTC in detail
The HiBTC platform applies the community based model instead of the traditional centralized business model as its organizational form, because with the accelerated development of the internet and blockchain these days, the community based organized form would be more effective because if everyone directly and freely participates in the market as an individual, the most perfect market would be formed. A market with significantly reduced transaction costs of each individual. In HiBTC, regardless of the size of the transaction, each participant on the platform can efficiently attain the investment objectives without having to worry about personal privacy protection or the security of digital assets. In addition to that, the professional financial unit will equip investors with upper class hedging instruments and investment target choices. HiBTC is dedicated to creating a completely transparent, fair and shared investment environment. HiBTC also has an utility token called the HiBTC token (HIBT), which is the only token issued by the HiBTC platform, it serves not only as a digital asset, but also as a depiction of all rights and interests of the HiBTC platform. HiBTC promises to routinely allocate the platform revenues to all HIBT holders; at the same time, the “transaction + token holding” mining model (“proof of mining hours + proof of equity” mechanism) is adopted, and 50% of the HIBT issued is rewarded to users through transaction processing fee mining.
Benefits of HiBTC
There are a lot of added benefits to the HiBTC platform that has sparked my interest, I’d mention some of them that I really like:
- It is extremely safe – HiBTC prioritizes the safety of the users’ digital assets. It also works together with top security companies, examining the platform codes and setting up multi-layer firewalls on the platform, using multi-signature and cold/hot wallet separation to place over 90% of assets in the cold wallet so as to maximize the security of user assets.
- It is extremely efficient – HiBTC uses an advanced memory coupling algorithm to handle approximately 2 million transactions per second; meanwhile, the securities-level API interface supports professional trading instructions such as high-frequency, GTT, GTC, FOK and ICO, providing all-inclusive technical support for professional investors.
- Revenue sharing – HiBTC consents to routinely allocate the platform revenues to all HIBT holders and the remaining part will be used for platform operation.
- Right sharing – HiBTC disposes the traditional centralized structure of a “firm” and there is no board of directors or management, just the founding team responsible for providing technical support for the platform operation, the right to make decisions on major issues, income rights, the right to select community representatives, etc. will be fully restored to HIBT holders.
To get more information About The HiBTC platform, please visit the following links:
Website: https://www.hibtc.com
Whitepaper: https://www.hibtc.com/om/about/en-us/whitepaper.pdf
Twitter: https://twitter.com/HiBTC_Exchange
Telegram: https://t.me/www_HiBTC_com1
Authors' details:
Bitcointalk link: https://bitcointalk.org/index.php?action=profile;u=1817986;
Bitcointalk username: templar97
Telegram username: templar97
Email address: davidchukwuma97@gmail.com