BIXTRIM; MAKING CRYPTOCURRENCY ACCESSIBLE AND USABLE ON A DAILY BASIS FOR ALL

in #crypto6 years ago (edited)

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INTRODUCTION

Crypto exchanges have emerged the tool to profit from crypto asset ownership but they are far from being without their pitfalls. The exchanges as a centralized point of sale do not fit well with the idea of a decentralized financial system, they are a single point of failure but this is not the only issue. Some of the problems associated with crypto trading platform or exchanges are;

LIQUIDITY PROBLEMS

Like all nascent markets, there is a lack of liquidity in crypto markets making it so difficult to exit at the right price. The growth in exchange use has boosted overall liquidity but such an increase in trades is yet to have the ultimately desired effect. In Bitcoin markets for example, this lack of liquidity is compounded by the fact that many BTC holders are sitting tight as the value rises and are unwilling to put their Bitcoins back on the market.

Those holding crypto and waiting for their assets to reach a certain profit level subsequently flood the market which accounts for the volatility and massive price swings that we see on crypto markets and this is where proposed futures markets can really help.

This will facilitate the shorting (selling) of Bitcoins that are not actually held by the seller but are contracted to be sold and then bought back later at a lower price. This may bring stability to crypto markets as it increases trade volumes and could balance out the current bullish trend on the market. Price slippage woes are compounded by the fact that many crypto exchanges require users to wait for their transactions to be confirmed and these waiting times can be several minutes.

Moreover, the lack of liquidity carries two main problems for crypto exchange users which are, large spreads on the thin markets due to the low number of bids for the assets, in addition to demand and supply inefficiencies and the second problem is the large price swings on these thin markets which mean price slippage occurs with trades not executed at the price proposed.

CENTRALIZED NATURE

As mentioned above, crypto exchanges constitute a single point of failure and so are a target for hackers, Mt. Gox the world’s leading exchange of its time is the most publicized and largest hack to date with uncovered Bitcoins totaling 650,000. Mt. Gox later filed for bankruptcy.

Blockchain data inputted is immutable, it is more susceptible to theft by hacks. This immutable nature means all transactions are final with complainants may as well taking their grievances to the appropriate place to be resolved. In addition to there stolen or lost funds, crypto assets cannot be recovered or frozen without working to reject the transactions.

CLEARING AND SETTLEMENT

Another issue with crypto exchanges is how transactions are cleared and settled through its various platforms. As cryptocurrencies exist within an unregulated space, clearing and settlement cannot occur through traditional, regulated channels, making clearing and settlement risks abnormally high.

Moreover, exchanges aren’t willing to act as anything other than a third party that only arranges trades between buyers and sellers. This means that they are not a direct counter-party to every transaction that takes place and so are not bearing much responsibility for what takes place on their platforms. However, it must be said that they do act as a counter-party where they can correctly make margin calls in time to recoup funds from the wrong sides of contracts.

LACK OF TECHNOLOGICAL CAPABILITY

There are many exchanges operating sophisticated platforms but as an analyst from Bank of America Meryll Lynch noted, “by and large these do not offer the same quality of technology as the large global exchange groups.”

The systems the analyst is talking about can cost up to 10 million USD to operate and maintain per annum with prices starting from $500k for smaller exchanges i.e the more expensive and advanced the technology, the more they are able to detect market manipulation and other fraudulent activities. Crypto exchanges in their current forms just aren’t able to do this.

                                  BIXTRIM PLATFORM  

Bixtrim is aiming to make cryptocurrency accessible on a daily basis, engineer and establish an ecosystem of financial instruments based on the revolutionary benefits of the digital economy.

In order to effectively achieve and execute this target, a multi-functional platform will be engineered and designed by the Bixtrim team. Its products and services will offer the right breakthrough features that the crypto world needs and encompass major innovations in the industry.The platform will cover the following;

  • Perfected version of the functions typically found in exchange platforms

  • A unique set of opportunities such as;

○ Crypto pawnshop

○ Futures contracts

○ New cryptocurrency supporting escrow and multifactor authentication

○ Debit Cards directly linked to cryptocurrency wallets

Some of the solutions rendered by Bixtrim in crypto trading platform or exchange are;

  1. Bixtrim will make use of the entire network of existing and future service centers granting easy access to fiat and crypto to all interested parties within minutes.

  2. Bixtrim will develop a crypto pawnshop where coin owners can pawn their coins for some period and retrieve their coins after meeting their financial commitments. This option gives customers an opportunity to keep their coins and profit in the long term while receiving much needed short-term cash.

  3. It will develop an exclusive feature - futures contracts on the Bixtrim platform supporting a predefined date for transactions which will allow all users of the platform to be able to use this feature and trade with ease.

  4. Crypto traders i.e buyers and sellers on this platform will be anonymous and the agreement between them will not be legally binding, the Bixtrim platform will serve as a guarantor and freeze some amounts of money for both parties to facilitate smooth transactions.

  5. Bixtrim will issue a global cryptocurrency with the ability to process at least 100.000 transactions a second.

  6. Bixtrim’s coin will serve as a catalyst, which connects the crypto market to the retail market.

                          BIXTRIM TOKEN(BXM)
    

During ICO, the BXM tokens will be distributed among participants and investors. If at any phase the funds will not be collected in whole, the Bixtrim team will do its best to take charge and find ways to finalize the development stage.

Total emission volume is 72 000 000 tokens which are divided into several parts:

10 800 000 tokens will be sold in discount packages which goes thus;

Private Sale from 1st June to 20th June – 3 000 000 BXM (80% discount with minimum order 20 000 tokens)

Phase 1 of Sales from 21th June to 30th June – 1 300 000 BXM (60% discount with minimum order 30 tokens)

Phase 2 of Sales from 1st July to 15th July – 2 600 000 BXM (40% discount with minimum order 30 tokens)

Phase 3 of Sales from 16th July to 31th July – 3 900 000 BXM (20% discount with minimum order 30 tokens)

Regular sales process begins from the 1st of August till 30th of September

42 800 000 tokens will be sold at the original price.

6 500 000 tokens for referral bonuses and lottery drawing.

11 900 000 tokens stay in the possession of the co-founders, partners and advisors.

All clients and investors are required to proceed KYC procedure.
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CONCLUSION
In conclusion, The total number of BXM tokens per account is unlimited and the minimal number of tokens per order is 30. Customers can purchase tokens in discount packages or at the original price which is equal to $1. For more detail on this project, the links below will really be of help.

WEBSITE: https://www.bixtrim.com

WHITEPAPER: https://www.bixtrim.com/assets/pdf/whitepaper-en.pdf

TELEGRAM: https://t.me/bixtrim_ico

MEDIUM: https://medium.com/@bixtrim

TWITTER: https://twitter.com/bixtrim_llc

WRITER BITCOINTALK USERNAME: Otunajfa

WRITER BITCOINTALK ADDRESS: https://bitcointalk.org/index.php?action=profile;u=2198159

WRITER ETH ADDRESS: 0xCBC62FeD407537b023233012e05Cf4D484053CC0

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