Bitsdaq is a cryptoasset exchange located in Hong Kong. Their volume over the last 12 months is $3.25B. The exchange is rated “C” which means “Fair.” They are a crypto-only exchange.
Bitsdaq is a cryptocurrency trading exchange founded by highly experienced experts in the sphere of finances, fintech and commercial real estate. The company headquartered in Hong Kong started its activity in January 2019. Soon after that, it attained the status of a leading financial company on the Asian market.
Bitsdaq attempts to alleviate the trading process for professional traders, cryptocurrency investors, and blockchain startups. It bets on exceptional user experience achieved with the help of advanced modern technologies which proved to be very efficient. Bitsdaq was the first among its competitors to offer an option of a joint order book with Bittrex API.
The platform has gained incredible popularity from the very start. It had accumulated more than 2 million registered users within 3 months after its launch that happened after it announced its partnership with major US exchange Bittrex. It’s a significant factor that determined the success of the whole enterprise. As a result, the platform received tens of thousands of pre-registrations during the pre-launch and increased its community considerably. It acquired over 100,000 members in the Telegram group within a week.
Bitsdaq key targets
The founders of the exchange wanted to make it a pioneer in the blockchain industry so that it could demonstrate the trading of the next generation increasing the potential of blockchain companies.
The platform was created with an idea to realize a Pan-Asia market network that contributes to the development of the blockchain industry in the region. The company aims to provide solutions for individuals in search of a more extensive selection of digital assets on a trustworthy platform.
Bitsdaq platform also issued its token based on Ethereum called BQQQ and conducted IEO on June 9, 2019. The company wanted to raise funds, to find proponents and to connect with other companies to establish strategic partnerships.
Bitsdaq provides quite a high level of security to its users. The security measures include 2FA technology, facial recognition from JUMIO, the KYC and AML procedures that are often optimized for users’ convenience. Also, the platform practices the distribution of the wallet keys after their fragmenting into small parts with each fragment being stored in a different location with at least three layers of encryption. To prevent DDoS attacks, the team of the exchange employs CloudFlare, DOS protection with Throttling/Rate Limiting, protection against CSRF and XSS attacks.
On Bitsdaq, the level of customer service is incredibly high. The exchange delivers top-tier multi-lingual support for their customers. Besides, the exchange offers the education program to facilitate the onboarding process for beginners.
The platform offers cross-platform support for a higher level of convenience. Users can utilize a web-based trading client and native Android and iOS-based clients. Those who are on the move have a mobile HTML5 client at their disposal along with Rest API implemented for convenient work on the platform.
The platform offers a set of services to help small and middle-sized blockchain startups providing necessary funding for these projects. It delivers an efficient, safe and transparent environment alleviating the development of post-ICO and IEO startups disclosing their potential and helping them to grow.
Bitsdaq Launchpad helps blockchain projects to get contributions directly from verified users of Bitsdaq exchange. Bitsdaq Launchpad lists the projects with strong teams and technical background at a mature stage of development featuring products with good potential and a clear roadmap.
Cryptocurrencies can be traded against USDT, Bitcoin, and Ethereum. Altogether, there are more than 70 pairs available for trading at the time of writing. The selection of altcoins presented on Bitsdaq cannot be named too versatile. The platform plans to add more in the future.
Both makers and takers have to pay a fixed rate of 0.25%. The depositing is free on the exchange and there is no daily withdrawal limit. The terms of withdrawal depend upon the selected currency.
One of the platform’s key partners is a famous cryptocurrency platform Bittrex. As a result of this partnership the first joint order book appeared, which is a world-class exchange system at the time of writing.
Their mutually beneficial cooperation became very productive. Bitsdaq used a highly developed infrastructure of its partner, while Bittrex in its turn got access to the Asian market with the help of Bitsdaq. The partnership also helped Bitsdaq to attract the attention of pro-level specialists, institutional structures, retail investors, etc.
In May 2019, the company set a strategic partnership with Consensus FinTech Group, a well-known blockchain investment fund in Silicon Valley, USA, that invested in BQQQ token.
Headquartered in Hong Kong, the company also has offices in Singapore, Macau, and Canada. The platform was co-founded by Ricky Ng, CEO, Adam Cole Jacobs, CSO, and Eric Dao, CTO. All of them have huge experience in the blockchain industry.
For instance, Ricky is the founder of the i-House token (IHT), and a co-founder of NASDAQ-listed IClick Interactive, a large digital advertising platform that went public via an IPO, while Adam Cole Jacobs is a co-founder of Ethereum and Spend.com, which is a multi-currency digital wallet for storage of fiat money and cryptocurrencies. As for Eric Dao, prior to joining Bitsdaq, he had been working in Microsoft for 22 years and contributed to the development of such famous products as Microsoft Windows, Office, Exchange, and Office 365. The Head of Business Operations is Haley Chow with experience in PE/VC investment who worked as Assistant VP at the Chairman’s Office of the China UCF Group.Read More