The Bitmax exchange is a 3rd generation innovative exchange that focuses on transparency, high-performance, security, and liquidity. This is an exchange with many amazing features that really makes using an exchange easy and fun.
On Bitmax exchange, there is the "Taker trade" feature which allows users to place an order which is filled immediately, either fully or partially before getting on the order book. The user for that trade is called the taker, he takes liquidity from the market.
The "Maker trade" allows users to make a trade that is not filled immediately, either partially or fully. The order sits on the order book until it is matched. The user for that trade is called the maker, he provides liquidity to the market.
The Regular trade option allows users who don't want to participate in trade using the mining and reverse mining option and would rather pay transaction fees at certain levels.
Users can Mine on the Bitmax.io platform by simply trading. The process involves paying transaction fees at certain levels and receiving a certain amount of Bitmax token (BTMX) as a form of reward for trading on the platform.
Reverse Mining has a different incentive for the "Maker Trade" which includes:
i. The process of users getting a reduction by executing Maker Trades.
ii. Deducting the equivalent market value of BTMX token from the users' account.
iii. users' Bitmax token (BTMX) being subjected to a permanent lockup.
How The Reverse Mining Works
The Taker vs Maker trading mode setup and fee schedule
Just recently, the Bitmax team launched the industry first Transaction Mining and Reverse Mining feature which saw its trading volume exceed 60 million USD in just 60 mins of its launch and over 100 million USD in 100 mins of its launch.
To know more about Bitmax, visit the following links:
BitMax Official Website: https://bitmax.io
Twitter: https://twitter.com/BitMax_Official
Reddit: https://www.reddit.com/r/BitMax
Telegram English Official: https://t.me/BitMaxioEnglishOfficial
Telegram Official Announcement Channel: https://t.me/BitMaxOfficialAnnouncement