BitMax is a cryptoasset exchange located in Singapore. Their volume over the last 24 hours is $176.88M. The exchange is rated “C” which means “Fair.” They are a crypto-only exchange.
BitMax is a 3rd-generation digital asset exchange based in Singapore. It is currency agnostic, protocol-based, and a partially decentralized hybrid not limited to specific blockchains.
Launched in September 2018, BitMax provides a broad range of trading products and services for global retail and institutional clients. The company’s mission is to support financial market innovation and the advancement of a digital asset economy.
Created by Wall Street veterans, BitMax boasts full transparency, multilingual exchange support, top security, and a user-centric interface; this has helped it to attract significant strategic investment from top venture capitals including MatrixPartners China, FBG Capital, BitMain, and Danhua Capital.
The platform promises institutional-quality trading architecture with advanced in-memory matching algorithms, asynchronous non-blocking read and write, and a distributed real-time messaging framework.
BitMax’s native coin, BTMX, has a total supply of 10 billion (including permanently locked-up tokens). The platform allows for three distinct tiers of membership: platinum, gold, and silver. Each tier provides varying discounts on transaction fees, increased daily net sell limits on BTMX, and increased daily net sell caps on large sell orders.
The company offers trans-fee mining and reverse mining to reward its users (as well as regular trading). It’s trans-fee model returns incurred transaction fees to users, bringing more liquidity to the exchange and driving up user volume.
Reverse trading has no transaction fee, and rewards users with rebates after they place a maker order (the user fee is -0.04%). The rebates come from the counterparty, the taker of the transaction, and their deducted BTMX is locked up permanently and removed from the market supply of circulation. This effectively manages the overall supply and demand of BTMX while discouraging large sell orders.
BitMax’s website states that its management team comprises experienced executives from top-tier institutions such as Deutsche Bank, Barclays Capital, Morgan Stanley, and Goldman Sachs, as well as highly skilled technical leaders with academic credentials from institutions such as Columbia University, the University of Chicago, and Peking University.
Co-founder Ariel Ling brings 20 years of Wall Street executive experience in areas such as strategic planning, product development, risk management, financial analysis, and operational efficiency.
With a PhD in computer science co-founder George Cao has a similar Wall Street pedigree with experience as a portfolio manager at Barclays Investment Bank and Knight Capital Group. He also founded the Whitestone Investment Fund and was General Manager at Delpha Capital Management.Read More