BW started in 2014 as a Bitcoin mining pool and in January 2017 it launched BW.com, a centralized digital asset trading platform headquartered in Singapore and having operation centers in Australia, Singapore, Korea, Taiwan, Japan, Malaysia, Philippines, Thailand, and other countries. BW.com’s team aims to create a self-governing community and share development achievements with its users and investors.
BW.com formed a strategic alliance with ZB.com, one of the largest cryptocurrency exchanges. BW.com gets full technical support from ZB enriching its trading ecology in return. Users can make account binding that means using one account to log in to two platforms, which benefits in faster transfers without fees between the platforms. The option is only available in the web version.
To provide the required level of security the company asks for three-level authentication through mobile phone, email, and Google Authenticate. In addition, the BW BUG Bounty Program has been released, which rewards external security developers for finding system vulnerabilities and BUG reports.
BW.com exchange can be used on any device. BW.COM APP is available for mobile users and can be downloaded from Google Play and App Store. The application has the full functionality of the exchange, but it supports only English and Chinese while the web version supports 8 languages: English, Spanish, Turkish, Belarusian, Korean, Indonesian, Chinese, and Vietnamese.
BW.com’s services include mainstream currency trading, margin trading, a wallet, contract trading system, OTC, and a launch pad for projects.
Margin trading means getting multiple returns with the principal. BW.com exchange can magnify the return up to 20 times without interest, providing such features as dual way trading, anytime loaning, and repaying, but the users’ risks of possible loss double at the same time.
USDT holders can participate in the USDT DeFi liquidity mining staking USDT to get MIR. The platform collects 5% of the mining revenue as a service fee, and the remaining part is distributed to participating users. The pool also charges 0.5% of the USDT interchange fees when you exit.
OTC service allows buying large amounts of USDT and QC paying with CNY, KRW, and VND via bank card, Alipay, or WeChat.
Startups can apply to list their tokens in a trial zone or use Tokens LaunchPad for the token sale. Members can earn additional coins using BW Pool for depositing. ‘To the Moon’ service encourages users to join into groups to buy tokens at low prices.
Users who open BW contract accounts can take part in a trading competition. During the event, users get a randomly matched opponent for a 60-minute game. The result is based on the income of the BUSD contract’s closed positions during the match.
The exchange allows users to choose from 100+ coins and 140+ trading pairs with BTC/USDT being the most active one. Depositing is free of charge but BW.com platform does not accept any other deposit method than cryptocurrencies. New crypto investors need to purchase digital tokens from one of the entry-level exchanges, which allow fiat money depositing, and then put them into the BW.com account.
Exchange and margin transaction fees are equal for makers and takers. If they are regular members they pay a 0.2% fee of the order value. If they are market makers, they are charged zero fees. For perpetual swap trading, the fees make 0.075% for takers and 0.025% for makers.
Withdrawal fees and limits are different for each token and depend on its cost. Users are charged 0.001 BTC and 0.025 ETH for BTC and Ethereum withdrawal correspondingly.
BW.com native utility token BWB is based on the ERC20 standard of Ethereum blockchain. The maximum number of BWB is limited to 1 billion coins. They were distributed through the mechanism of "synchronous release of POS mining" in the following way. 15% BWB was given to the development team, 15% went to the BW fund, 15% is used for member giveback, and the rest 4% were spent on the market promotion. 51% BWB is used for public distribution through three mining models. Mining by trading gives 100% trading fee refund in the form of BWB, mining by deposit brings 100% interest refund, and mining by mining gives users mining hash revenue. The BWB intended for distribution was completely frozen in advance and released gradually according to the daily mining portion.
BWB is used for different purposes: revenue distribution, ecosystem payments, dividends, and voting. 80% of the trading revenues are distributed among BWB holders, and 20% are used for improving the platform. BWB coin can be used to cover all kinds of handling fees, hosting fees, or for cloud hash and mining equipment purchases. Members get dividends by holding BWB and participating in the community business. Voting allows BWB holders to participate in the elections, community governance, or decision-making. Only the already mined and released coins are used for the trading revenues distribution.
BW.com Team and Partners
All BW.com team members are experienced blockchain enthusiasts passionate about finance, cryptocurrency trading, and mining. Pony Chan has been the CEO at BW.com since August 2018. He is also the CTO at BitForex. Jay Kim is the Vice President of BW Exchange in Korea and JK Capital CEO. Cathy A Zhu, a business development professional and specialist in financial technologies, is BW.com global CEO and chief operating officer. She also works for ZBG Exchange as a Business development lead APAC and as a Director of Finance at Institute of Blockchain. Noel A. has been a listing manager at BW.com since March 2020. He is responsible for conducting projects’ listings and analysis procedures. He is also a blockchain advisor at Lox Network and Centric Foundation. He also works for Dcoin exchange, BigONE exchange and Hotbit as a listing manager.
BW.com has organized strategic cooperation with many companies among which are CasperLabs (a decentralized blockchain and smart contract platform for builders), QUOINE (a global fintech firm that supports isolated cryptocurrency and fiat markets), Bitbank (Japanese cryptocurrency exchange) and such digital assets' data sources as CoinCodex, CoinMarketCap, and CoinGecko.