I’ve been monitoring BitMax for the past several weeks as the team has made quick work of their launch with more and more feature coming online as time goes on. With all the major pairs available for trading at this point, they are positioning themselves to be a major exchange, listing big pairs like BTC and ETH, but also many of the smaller favorites like BAT and IOST making a solid splash on the platform as well.

The most recent update saw major improvements to the backend platform in preparation for the platform’s transactional mining launch that will see traders earn BMAX tokens in relation to the trading on a daily basis offers people an easy way to stock up on the cryptocurrency from BitMax, it’s an interesting ecosystem the team is developing which sees a large amount of the trading fees rewarded to the BTMX holders. I’ve seen some other exchanges discuss this type of distribution model but haven’t seen any actually pull it off. BitMax’s interesting distribution model and option for Reverse Mining as well that is paid to Maker trades.

The interesting part is the permanent lockup that occurs from the BTMX reverse mining procedure, the lockup will mean an ever-shrinking supply from the initial 10 billion BTMX tokens (49% initially issued). This means people who HODL longterm will be the ones that will truly take advantage of the profit potential over the course of the exchanges existence. This is something that from my side makes my ears perk up because I tend to hold tokens and forget about them for long periods of time so the idea that I might be one of the ones to really take advantage of the true profit potential from the BTMX token is exciting.

A distribution model and payment structure designed to reward traders, and platform devotees, it’s no wonder the team is also running sweepstakes and awards to further give back to the community. I can see the team has their eyes on the goal of being a major contender for crypto volume trading, their referral based reward system for the mining and transaction system means people are going to be intensely incentivized to bring new members into the system, while at the same time the project team is working their own efforts to bring in people through the current sweepstakes event and possibly future events to see the number of active traders continue to grow as more areas of the exchange come to life. With rewards for the ongoing sweepstake well over 10 BTC worth of crypto, it’s no wonder they are expecting to be a huge exchange!

Event’s like the ongoing sweepstakes, to get people in the door, and then once those traders get a taste of the reward structure of the transaction based mining that the sweepstakes show off, I’d imagine a large number of those new users will be sticking around to pad their BTMX wallets with lots of tokens for longterm gains.

It’s no wonder so many investment groups have been working with BitMax and the team has had a great response from the sector, this group has itself a platform with huge potential, and a marketing and expansion plan that is a surefire way to draw in longlasting customers and investors. For every new trader, theirs also a BTMX investor that will help strengthen the overall growth of the platform as a whole. I’m excited to see how this platform grows over the next 1–2 years and just how big of a contender it is vs the current kings of crypto exchanges.