Transaction fees in cryptocurrency trading can jump when the coin value does. Average transaction fees measure the average fee in U.S. dollars when a transaction is processed by a miner and confirmed. For some reason, it was quite complicated to find information about the founders of BitMax exchange, its background and creation history. Still, we have managed to find out that the CEO and founder of BitMax exchange is George Cao. Since its launch on August 13, the platform has registered over 50,000 users across the globe and now boasts 25 active crypto trading pairs, with additional listings under review.
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Kraken
Whether or not this is the right crypto trading platform will depend on your trading objectives, country of residence, expectancies, and trading objectives. The Bitmax trading offer is personalized, but it aims to meet the needs of different crypto traders. For more information on the services provided by Bitmax, feel free to check their website or get in touch with a customer support representative. BitMax liquidity analysis from Section #2 dedicated to Liquidity analysis revealed that 93-98% of total reported trade volume is made by a single pair of USDC/USDT eligible for transaction mining. The turnover of the pair consistently exceeded the total number of USDC in circulation starting late December 2018, and on January 25th it was 2.9 times higher. Thus, considering the USDC balance on the exchange’s wallets through the period, those funds were flipped hundreds and even thousands of times.
- More than 100 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Altcoins, Stablecoins, and Platform Tokens, are represented on BitMax.io.
- AscendEX is a platform for investors of all experience levels who want to make their crypto ascent better.
- There are four different ways you can interact on the trading platform.
- BitMax.io has partnered with Simplex, an EU-licensed payment processing company to provide credit/debit card payment solution on its platform.
More than 100 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Altcoins, Stablecoins, and Platform Tokens, are represented on BitMax.io. The growth of cryptocurrency has accelerated in recent years, with the earliest crypto coin, Bitcoin, reaching more than $20,000 per coin in 2017, and after a dip, reaching more https://cryptolisting.org/blog/understanding-carrying-value-vs-fair-value than $32,000 per coin in January 2021. As far as we can see from the analysis of Twitter accounts, many of the exchanges which are not even on TOP 50 positions in CMC rating have stronger Twitter activity than BitMax (which is in the TOP10). It’s worth noting that both tokens in USDC/USDT pair are USD pegged stablecoins.
Bitmax.io Review – Scam or Not?
BitMax offers standard crypto trading services such as limit, market, stop limit, and stop market orders, but what makes it stand out is its “innovations” that other crypto exchanges typically do not offer. Trading in digital currencies continues to be a rising trend, considering increased volatility creates short-term opportunities to take advantage of price movements, without having to buy the underlying tokens. The services provided by Bitmax are tailored for retail traders all around the world, who want to get involved and profit from this fast-paced market, trading with margin and tight spreads on a long list of cryptocurrencies. The developments in the cryptocurrency market act as a tailwind for Bitmax, because its customized crypto trading offer has the potential to attract an increasing number of customers. All the brand has to do is keep the same level of professional services and constantly upgrade its offering, so trending cryptos will be part of its offer. With Bitmax there are tens of different tokens available for trading, a crypto-tailored trading platform, professional customer support services, and a multitude of trading tools.
Bitmax does not support fiat deposits or withdrawals, however customers can buy cryptocurrency directly with a credit card or debit card, this will then be available to trade with on the platform. For a long time, the industry average was around 0.25% per trade; however, many exchanges now offer fees of around 0.05%-0.15%. In comparison to other popular exchanges, BitMax offers a competitive rate. This means that you can borrow money from the exchange in order to buy crypto. The interest rate depends on the trade but can apparently be as low as 3.65% per year (0.01% daily).
The fees are reasonable and can be made even better through holding BitMax’s native token, BTMX. BitMax is a newly launched margin trading place where you can trade beyond the popular coins, like Bitcoin and Ethereum with several other coins with leverage up to 10x. The trading fees are very good compared to other trading platform and you also have the option to reduce these fees to even lower with the help of BitMax’s own native token, BTMX. BitMax.io has partnered with Simplex, an EU-licensed payment processing company to provide credit/debit card payment solution on its platform. Through Simplex, users can now easily buy digital assets with just a credit or debit card (both VISA and Mastercard accepted).
Documents for verification are sent directly to the compliance department for approval. Withdrawals are not possible without successful account verification. You are not limited to access the web trader only via desktop, but also through the browser on any mobile device. BitMax’s BitTreasure financial products require additional personal verification before purchasing. Makers are users who place an order that doesn’t fill immediately and sits on the order book waiting to be matched. Because it incorporates strong security protocols, Bitmax had decided to integrate multiple functionalities.
Ex-CEO of Crypto Trading FTX Gets Extradited to the US
Combined with its wide range of tokens available for trading, BitMax provides the daring trader an opportunity for high risk and high rewards. Only BTMX that is manually locked up is eligible for the daily distribution. The locked tokens can be unlocked at any time but may take up to 24 hours to be usable again or can be unlocked instantly for a fee of 10%.
BitMax Withdrawal fees
Like many other cryptocurrency exchanges, BitMax also offers a referral reward program. Users who invite others to BitMax receive a 10% reward, which is paid out depending on how the invited user trades on BitMax. Essentially packages of certain high-risk tokens such as BOLT can be bought and held for a certain minimum time frame, and users will receive a rate of return of as much as 48%. The fee for regular trading is 0.04%, and there are no BTMX rewards or incentives. The only trade where users must use regular trading is in selling BTMX tokens, which is excluded from Transaction Mining and Reverse-Mining modes so users must pay the regular trading fee of 0.04%. Reverse-mining is only available to market makers, and instead of having to pay fees, you get money back in the form of a rebate.
Margin Trading
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BitMax reviews
Everyone who has heard at least something about the crypto industry knows that, traditionally, the community has played a huge role for every crypto institution. DNSSEC is a set of protocols that add a layer of security to the domain name system (DNS) lookup and exchange processes, which have become integral in accessing websites through the Internet. While DNSSEC cannot protect how data is distributed or who can access it, the extensions can authenticate the origin of data sent from a DNS server, verify the integrity of data and authenticate nonexistent DNS data. All content on CaptainAltcoin is provided solely for informational purposes. It is not an offer to buy or sell any security, product, service or investment.
However, in the case of countries with regulations preventing the provision of such services, Bitmax reserves the right to refrain from opening trading accounts. More information on the matter can be obtained from a representative. The market’s attention and media coverage might be focused on Bitcoin, now that its valuation has managed to reach $50,000, but professional traders are aware that greater value lies in Altcoins which have underperformed. Cardano, Neo, Dash, Ethereum Classic, EOS, Polkadot, Chainlink, ZCash, Monero, and Binance Coin, are just a few of the tokens which are part of the Bitmax offer. Proud to offer a safe trading experience, Bitmax relies on a proprietary WebTrader, a solution providing flexibility and ease-of-use.