I have been trading for a good period of time, I have had my losses and I have had my wins. If someone to ask me now which is more I think I would say losses? I recall when I started trading I always had an issue with the fees. I mean the price of a given asset goes up a little and I decide to sell but when I factor the fees I hold back simply because the trade wouldn't be worth it. I was in a constant hunt for the cheapest exchange to trade on. As you may know, usually makers and takers are charged fewer fees and the more you trade the lower the fee is likely to get. Reaching that cap does not mean you will stick to that exchange. If a better exchange came to life with a better performance and better returns and has a decent volume one is likely to move to that exchange. I think you are likely to share the same thought.

Last year was a really thriving year for the crypto market and various exchanges came to shine; some tried to get the spot but failed like what happened with FCoin. Others are driven by fake volume and others are doing well in the midst of all of this. One quite new exchange that seems to be interesting is called Bitmax. The exchange is run by Wall Street Veterans which gave them the advantage.

In a short period of time, they were able to a have more than 50k users and more than 2 mils in daily volume (according to cryptorank.io). The question that might cross your mind is why them? If you navigate to bitmax.io you will be presented with a nice blue and white site and a visible 'help' button. Their support team is available around the clock. I am starting with this because so far my experiences with the other large exchanges has been horrible; I still have tickets open for more than 1 month. Bitmax seems to pride themselves with their support service. I hope they keep at it as they grow.

By accessing the exchange page you will see that the page is divided into two columns; the largest being for the chars and the other for the order books. This setup gives emphasis to the analysis tools over the order numbers.





Notice earlier I said that the exchange is run by Wall Street veterans? The founder Dr. George Cao was an investor and a trader in Wall Street which helped him accumulate the trading experience and he holds a Ph.D. in Computer Science. The tech team is mostly graduates from Wall Street. Their experience and ability to execute has attracted various investors prominently Bitmain FBG Capital and Matrix Partners China.

Now let us move to what makes Bitmax really unique. There are mainly two features that make Bitmax standout the most out of the other exchanges. One is called Trans-fee and the other is called Reverse Mining. These models have been launched recently. Trans-fee might sound familiar? well, it should because it was the model used by FCoin however according to Bitmax team the reason that did not work with FCoin is that its execution was not right. Trans-fee model is about the user or the trader; basically, the trading fee goes back to the user in a form of Bitmax tokens. The more you trade the more you gain.

The other model introduced by Bitmax is the Reverse Mining. This model and according to the team has never been applied before. This model is specifically for market makers. If you place a market order you will be getting 0.04% (the transaction fee) of the order in form of Bitmax tokens which is basically the trans-fee we talked about earlier. However what is different with market makers is that the same amount in form of BTMX tokens will be deducted from the platform waiting for you to return that amount to the platform something like a sell back; that amount of tokens will be locked for good. This process reduces the total supply. the longer this process goes the more stable BTMX would become; in other words reducing the tokens and circulating supply.



If you are interested in knowing more about the exchange here is a list of resources you could use. As always this is my personal take on the project and keep an eye out for the promotions Bitmax has.



Resources:

BitMax Official Website: https://bitmax.io

Twitter: https://twitter.com/BitMax_Official

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

Telegram English Official: https://t.me/BitMaxioEnglishOfficial

Telegram Official Announcement Channel: https://t.me/BitMaxOfficialAnnouncement



