Bitmax Trans-fee Mining

Nowadays it is extremely difficult to stand out in the cryptocurrency exchange market, there are so many new platforms that all seem to share the same features, it makes it hard to differentiate from the competition. It seems as soon as one feature becomes popular then every other exchange will try to copy it, for example; decentralized exchanges, leverage, community voting systems.

Even though I have stated the above, I believe the Bitmax team has found a way that makes their exchange heads and shoulders better than the rest. They have achieved this by introducing an innovational trading fee redistribution mechanism called Trans-fee mining.

Transactional-fee mining is a cutting-edge model that has not been used by any other exchange before. To summarize, users will be able to reclaim their trading fees simply by completing trades. The more trades a user makes on the platform the higher percentage of fees will be returned to traders.

By using Trans-fee mining Bitmax will credit traders with their native BTMX tokens in exchange for normal trading fees. BTMX tokens can then be exchanged for USDT and used for trading with popular cryptocurrencies such as BTC, XRP, ETH, BCH, EOS, LTC, BCHSV, NEO, ETC or new stable token USDC. Alternatively, they can be sent to users BTMX wallets so they HODL to their heart's content.

The model incentivizes market makers and takers to trade more frequently and trade larger amounts. In turn, Bitmax will be able to add liquidity to all of their markets and gradually increase the overall trading volume on their exchange. The more volume Bitmax attracts the more attention they will gain and the higher they will climb up the CoinMarketCap charts in popularity, this will hopefully lead to an increase in traffic and users.

It's an incredibly smart system and it kind of makes you think why hasn't another project done this before. However, people are scared to buck the trend. No one has tried to implement this model and that is probably why it hasn't been tested. This is why blockchain technology and cryptocurrencies are so great. It creates the opportunity for a fairer society that projects and users can take advantage of.

I really hope Bitmax can be a success and I think Trans-fee mining will allow them to one day compete with some of the largest cryptocurrency exchanges in the world. Who knows, if markets do return to their former glory and token prices begin to pick up in value, it will be very hard for critics to deny the many benefits of trading through Bitmax's pioneering exchange.

Other News

Bitmax has been extremely busy over the last couple of months, they started an ambassador scheme in October and also ran a sweepstake rewards program for new users. As well as this they have attended several events and meetups including Taipei, Shanghai, Seoul, San Francisco and many other destinations.

On December 2nd Bitmax recently listed the USDC stable coin as a different option to USDT. USDT has faced some problems over recent months and it is always good for exchanges to offer a range of tokens.

Links

Exchange: https://bitmax.io

YouTube: https://www.youtube.com/channel/UCNpJ7goJAMCsaDKSnm3sqEA

Reddit: https://www.reddit.com/r/BitMax/

Medium: https://medium.com/@support_2385

Telegram: https://t.me/BitMaxioEnglishOfficial