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BUX Token (BUX)BUX
$0.3075
-5.35%
BUX Token (BUX)
BUX Price
$0.3075
-5.35%
Rank
#2,903
Market Cap (24H)
Unknown
Volume (24H)
$481,510
-19.33%
Circulating Supply
Transp. Vol.
Grade
1H1D1W1M1Y
-5.35%
BNB0x211ff...9779e45
BNB
Verify address & DYOR
Contract
BNB0x211ff...9779e45
BNB
Verify address w/ multiple resources & DYOR
Blockchain
Websitehttps://getbux.com/bux-crypto
CommunityTwitterTelegramGithubFacebook
Buxcoin is a forex-based cryptocurrency with a ticker BUX based on the Litecoin’s code. Buxcoin is a hybrid coin based o...Read more
BUX Token logo
BUX
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USD

BUX Token Price (BUX)

BUX Daily Performance

Today's BUX Token price is $0.3075, which is down 5% over the last 24 hours. BUX Token's market cap is unknown. 24 hour BUX volume is $481,510. It has a market cap rank of 2903 and max supply of 500,000,000. BUX Token is traded on exchanges. BUX Token had an all-time high of $4.2973 over 1 year ago. Over the last day, BUX Token has had 0% transparent volume and has been trading on 33 active markets with its highest volume trading pairs being .

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BUX Token Statistics

BUX Token Price (24hr)$0.3075 (-5.35%)
Market Cap
Trading Volume (24hr)$481,510 (-19.33%)
Transparent Vol. (24hr)
Unknown
Transparency GradeUnknown
Circulating SupplyUnknown
All-Time High
$4.2973-92.84%
10/19/2020 (2 years ago)
7D Price Prediction
N/A

Price

$0.3075
Price Change
-$0.017374 (-5.35%)

All-Time High

$4.2973
Date of ATH10/19/2020
Days Since ATH586
% of ATH7.16%
Price vs ATH

About BUX Token

Buxcoin is a forex-based cryptocurrency with a ticker BUX based on the Litecoin’s code. Buxcoin is a hybrid coin based on both Proof-of-Work and Proof-of-Stake mechanisms. It offers a platform for mining and staking, but its primary focus is on the last option because the mining process is rather risky.

The company standing behind Buxcoin is headquartered in London. The project’s website also mentions the address in Estonia and states that the company has offices in some other parts of the world. The cryptocurrency itself was launched in 2017.

The founder of cryptocurrency is Mr. Moshin Jameel who is also the founder of cashFinex. He is a British entrepreneur who participates in many ventures in the UK. He also owns Bull Infotech, a London based fintech firm that exploits the full potential of the MT4 platform to launch different projects including Buxcoin.

Buxcoin’s key goals

The philosophy behind Buxcoin is simple. The founder of the project is surprised that despite numerous automated technologies it’s still hard to transfer money to people located in other parts of the world. Though banks and financial organizations seem to develop the financial sector, they create a lot of barriers for people and companies that actually curb this development simultaneously. The transactions are expensive and take much time. The mission of Buxcoin is to disrupt such a state of affairs.

The project’s whitepaper says that Buxcoin was created to allow people to send funds to each other directly with the final target to replace fiat money with digital currencies. The document also states that the team has enough technical expertise and competence to attain this goal.

The three main aspirations mentioned on the website are security, privacy, and decentralization. The network is private and decentralized thanks to the PoW mechanism.

Buxcoin’s technology and platform

Buxcoin’s peer-to-peer decentralized network is based on the concept of digital ledger. In accordance with the system where PoW and PoS are combined, the platform supports both staking and mining.

The cryptocurrency uses a Scrypt-based algorithm, which is more secure and less of a target to hackers’ intrusion thanks to its fundamental code structures. Usually, the 34% attack which can reduce the income of stakers poses a threat to PoS-based cryptocurrencies. But the improved Scrypt algorithm ensured excellent results of Bux-loop security that blocks out automatically all those who try to get a major share of 34%+. The validators reaching 20% of total coins receive a warning from the system.

Buxcoin application represents a piece of software that is run on a smartphone or any other hand-held device. The simplicity of the two-step procedure makes mobile payments completely secure. Users just need to swipe their card and type the PIN-code. The Buxcoin payment can be received by displaying the QR code from the Buxcoin wallet app. The other party can just scan the smartphone or just to touch the two phones in case NFC radio technology is switched on.

Buxcoin pays much attention to security and implements the multi-signature feature to protect users from fraudulent activities. It implies the necessity to sign a transaction by 3 or more parties involved in the process instead of 2 on Bitcoin and other similar cryptocurrencies. Buxcoin has super-fast transaction speed with no lags or delays. Two-factor authentication and safe seed storage employ advanced cryptographic methods. Also, the bottleneck attack is excluded with the flow of 7,000 tx/sec delivered by the platform.

Buxcoin cryptocurrency can be used as a payment method by merchants or as a financial asset. The members of the community can send, receive and trade Buxcoins anonymously. International transfers are instant and secure, there are no limits to the amount transferred. Also, the transfer can be done at a zero fee for a receiver. Even if the charge is taken by some wallets, the fee remains nominal and is only needed to increase the speed of transactions. Users can select the fee and set it in accordance with the amount transferred. Also, the company behind the project developed a cold storage wallet facility for Linux and Windows users which is used for offline storage to remain secure.

Another problem that Buxcoin aims to resolve is associated with cryptocurrencies based on the Proof-of-Work mining mechanism. Purely PoW-based cryptocurrencies have their own flaws as the mining process is very complicated. It requires costly hardware and software, not to mention technical skills. Besides, heat is emitted during mining therefore the equipment should be often cooled. A considerable hashing power is needed to generate a new block as the equipment has to solve millions of mathematical puzzles. As a result, for those who mine PoW-based cryptocurrencies such as BTC electricity bills are very high. Buxcoin solves this problem by combining PoS and PoW mechanisms.

The users are rewarded for their stake in accordance with the amount of Buxoin staked. Also, the longer you keep the stake the higher is your reward. To get rewards, one should keep 50 buxcoins on the wallet for at least 8 hours.

Other details

Buxcoin has a total supply of 500 million BUX. 350 million coins are pre-mined and distributed through the exchange. 150 million coins are supplied through staking.

The release of Bux Qt wallet (staking) took place in May 2018. UPayCard Withdraw Option appeared 4 months later in September. The company has also launched its own cryptocurrency store named BuxSuperStore in the same month.

The company partners with Bitsolives that provides investment solutions for Buxcoin users. It also develops automated trading systems and FX trading solution for global financial markets.

Buxcoin Team

The core team was formed by academicians, tech experts, and entrepreneurs. Being motivated by the idea to remove the flaws in existing crypto coins, they have gathered together in 2015. This is how a new coin appeared. This story is all that can be found about them as their names are not mentioned on the site.

In fact, Buxcoin raises a lot of red flags for savvy investors. There is no Github repository to assess the code and it’s not open. There is no team of developers listed on the site. The design of the affiliate program resembles the Ponzi scheme.

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BUX Token Markets

(Top 10)
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BUX Token Historical Data

(Past 7 Days)
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Frequently Asked Questions

  • What’s the current BUX Token price? How much is 1 BUX Token worth?

    The price of 1 BUX Token is $0.3075. Over the last 24 hours, a BUX Token is worth -5.35% less. Visit our currency converter page to convert BUX prices to currencies other than USD.
  • When did BUX Token start?

    The earliest trading data for BUX Token is on December of 2019 (based on current exchange data).
  • How high can the BUX Token price go?

    BUX Token’s price has gone as high as $4.2973 (which is BUX’s all-time high). It achieved this price over 1 year ago. Speculations abound for how high BUX Token’s price will get in the future.
  • What's the smart contract address for BUX Token?

    BUX Token's smart contract address is 0x211ffbe424b90e25a15531ca322adf1559779e45.

Today's BUX / BUX Token News for May 28, 2022

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