Bithemoth is the one-stop platform for traditional and blockchain digital asset trading
My recent peak at the Coinmarketcap confirmed that we have over 1900 tradable digital assets currently listed on exchanges, and this number is set to grow exponentially based on the number of upcoming Initial Token Offerings. This unprecedented growth of cryptocurrencies is not synchronous with public adoption. The overwhelming pain point is that there is very little information available to new and upcoming cryptocurrency investors and users on digital asset acquisition and trading. Beyond the basic knowledge on cryptocurrency trading, users need comprehensive analysis and risk management tools to guide them on their digital asset trading journey.
Over the past one year, there has been a crop of Centralized and decentralized exchanges launched. A few centralized exchanges currently support crypto to fiat trades, which is a major stepping stone towards mass adoption. From my own beginner experience in crypto, I was frustrated by the user interface of most crypto exchanges. I therefore experienced a steep learning curve which was overcome by my enthusiasm and financial motivations. For most users with average interest in crypto, the complex way of acquiring digital assets through exchanges is a major put off. These complex processes mainly safeguard users against phishing and scammers. Although security is a primary prerequisite to any financial transaction, ease of use is equally paramount.
A distinguishing characteristic of the planned Bithemoth exchange will be to offer simplicity and user friendliness. Bithemoth plans to be a revolutionary digital asset exchange, which provides its users with affordable, reliable and secure exchange platform that encompasses traditional markets and blockchain assets. After full implementation, the Bithemoth exchange will address the weaknesses of current exchanges such as poorly designed User Interfaces, complex registration processes, security vulnerabilities, and unsatisfactory customer services. With a solid focus on user information, guidance and support, Bithemoth will spur the onboarding of new adopters and accelerate mass adoption of cryptocurrencies.
THE BITHEMOTH EXCHANGE
There are three pillars that define the Bithemoth vision. These are:
*Accessibility
The primary way of driving public adoption is the creation of awareness. Bithemoth will incorporate educational contents and . This will be backed by physical global operation offices with customer care provider who offer users a face to face guidance. Additionally, Bithemoth will drive mass adoption by supporting fiat to crypto conversions.
*Usability
The Bithemoth exchange will feature a user friendly interface which accommodates new investors and veteran traders.
*Profitability
To guard the interests of traders, platform fees on the exchange will be kept at the minimal. Bithemoth will feature an all-encompassing marketplace for traditional and new blockchain assets. This variety will give investors an even playing field for distributing risks and generating high returns from multiple sources.
To support the profitability, usability and accessibility functions, Bithemoth has incorporated other intuitive features that give it a competitive edge over other exchanges.
🔹 A Fully supported ICO incubator
There are many promising blockchain startups that could offer investors high returns. At Bithemoth, extra effort is made in supporting reputable projects with real usecases. The ICO incubator will enable verified projects to conduct their crowdfunding through the Bithemoth exchange. In addition to token sale services, Bithemoth will provide infrastructure and a dedicated support team to ensure the successful launch of blockchain startups. The ICO incubator will foster innovation and launch projects with positive
🔹 Enhanced Security
Centralized exchanges are always at risk of hacking attacks. In response, Bithemoth is incorporating a security system that supports cold storage wallets, two factor authentication, among other features to ensure user’s retain ownership and control of their funds.
🔹 Portfolio Management
Bithemoth will offer users with portfolio management tools which provide sufficient information for keeping track of their holdings. The quick View portfolio management tool gives a quick view of user asset distribution in a easy to read, visually appealing graphics. The In-House Portfolio Manager provides a simple in depth representation of a users assets performance with real-time updates .
The Bithemoth Token
The bithemoth token (BHM)will be issued by Bithemoth based on the Erc20 standard. A total supply of 200, 000 000 (two hundred million) tokens will be created. The BHM coin is will act as currency for all transactions on the Bithemoth platform. All platform fees will be paid in BHM.
To ensure the long term stability of the BHM token and to create true utility, Bithemoth will implement three strategies.
The creation of a reserve fund from 20% of Bithemoths profits which will be used for buybacks to stabilize the value of the token.
All the services provided by Bithemoth will be paid for in BHM tokens. As the demand for the Bithemoth platforms services grow, so will the demand for BHM tokens.
Provide trading fees discount to users holding BHM tokens, the rate of discount will be proportionate with the amount of tokens held. Users will therefore be incentivised to buy and hold more coins.
Token Sale Details
Token BHM
PreICO Price 1 BHM = 0.22 EUR
Price 1 BHM = 0.50 EUR
MVP/Prototype Available
Platform Ethereum
Accepting ETH
Soft cap 1,000,000 EUR
Hard cap 5,000,000 EUR
Country South Africa
Incentivising Adoption
The truth is that Bithemoth faces stiff competition from established crypto exchanges like Binance and Kucoin and other upcoming exchange platforms. At the initial release, any new users registering on the platform will be rewarded for
📍 Signing up and creating wallets.
📍 Using the exchange
📍 Referring new users to the exchange
📍 Providing feedback and suggestions on how to improve the platform
Conclusion
For new traders, Bithemoth offers new users a convenient entry point into digital asset trading. By providing new users with a convenient and personalized assistance on their asset trading journey, Bithemoth has the potential to onboard new users and increase its user base.
For seasoned traders, Bithemoth features more trading options through standard and non standard order types. From the whitepaper, Bithemoth will feature TIF (Time in Force) options like IOC (Immediate or Cancel), GTC (Good till Cancelled) and FOK (Fill or Kill). These functions will also be integrated into Bithemoth mobile apps. The inbuilt portfolio management tool will come in handy for quick reaction to market trends, besides providing an in-depth analysis tool for a user's portfolio.
Bithemoth provides an “all in one” asset trading platform, with ecological motivation mechanism to ensure the short term and long term sustainability of the project.
Important Links
Bithemoth has an active online community focussed on developing a community-driven exchange platform. I have included the links below for your convenience.
Website
Whitepaper
Facebook
Twitter
Medium