When the first cryptocurrency exchange was established in 2010, at a time when Cryptocurrencies had little to no value, a time when the whole Cryptocurrency MarketCap was less than $5,000,000 in total, a time when there was no other cryptocurrency apart from Bitcoin and Cryptocurrency Exchanges were not known as "Cryptocurrency Exchanges" but were rather known as "Bitcoin Exchanges" because that was the only Cryptocurrency in existence.
Fast forward to 2018 where there are over 200 recognised exchanges world-wide and they are no more known as Bitcoin Exchanges because there are now over 2000 Cryptocurrencies trading in the exchanges and the total MarketCap of Digital Assets exceeds $2,000,000,000, it is no more a secret that Digital Assets Exchanges are now a very important aspect of the Cryptocurrency Ecosystem and is not something that can easily be dispensed with because they are simply the lifeblood of Cryptocurrencies.
As a Cryptocurrency trader, I do not take the security of our funds very lightly especially when it comes to the security of my digital assets that are out of my control like my funds that are in Exchanges and considering the fact that several Crypto heists has been executed successfully in the past against exchanges, this is a very legit fear and while I know that the exchanges where I trade is largely responsible for the security of my assets that are in their exchanges, I always try my best to research about any exchange I put in my funds to make sure they take security very seriously and this exchange I am about to introduce you today has not just a very tight security, they also have mouth watering offers and features that would make any respectable digital assets trader delirious with joy. The Name of of this Exchange is HiBTC Exchange.
THE HiBTC EXCHANGE (The History)
The HiBTC was established in Late July 2018, it was established after a thorough study of existing exchange platforms and the team behind it decided to create an exchange that is not just unique, but also favourable to traders especially in the present situation of the Cryptocurrency market by giving users of the platform some percentage of the funds generated by the exchange and also to give traders a transparent exchange where they cannot just trade alone, but also have a say in how it's run.
HiBTC was created as a project that is Pro-BTC, what do I mean by this? It simply means that HiBTC was created to be fair and transparent just like Blockchain and hence BTC was created to establish a fair and transparent financial Ecosystem and the name of the platform reflects that aim... Hi-BTC.
THE HIBT TOKEN (Fuel Of The Ecosystem)
The HIBT token is the ticker of the HiBTC token, I fondly call it the fuel that powers the HiBTC Ecosystem because every single bonus or reward feature is based on the HIBT token, let's take a look at those bonuses and features:
RIGHTS SHARING: Holders of HIBT would be given rights in the platform and these includes the right to make decisions on matters such as income and management and even voting rights, infact if a group owns five percent or more of the circulating supply of HIBT, they would be able to recommend a token to be listed. This is one feature that would be good to all and sundry and adheres to the Blockchain vision which HiBTC is Emulating.
• HODL & TRADING MINING: In the HiBTC platform, this feature is actually known as "Revenue Sharing" but I fondly call it "HODL Mining", Users in the platform who are holding the HIBT Token would be entitled to share the revenue generated by the HiBTC Exchange platform on a daily basis, this is one of the reasons why I fell in love with this exchange, just holding the HIBT token entitles you to this daily income, additionally traders can earn extra bonuses with the transaction + token holding mining mode where 50% HIBT is rewarded to users through transaction processing fee mining.
• FomoHIBT: This name kind of self explanatory but I would still explain it anyways incase you didn't get the concept, users get rewarded for their FOMO on the HIBT Token, for those who do not know, FOMO (Fear Of Missing Out) is a trading term used to describe when people are buying and selling a token because the price is rising. In this Case, HiBTC would set up a bonus pool from the revenue generated in the Holder Shared Fund on a daily basis and once a set price for the HIBT token is reached, the pool would be triggered and distributed to the top ranking traders of the HIBt token, this is an awesome way for traders to earn mouth watering bonuses for doing what they like.. trading.
FomoHIBT Rules
1. The HIBTs trading contributors refers to those users whose HIBTs buying amount excels 0 from 0:00 to 24:00(UTC). The HIBT positive contribution value= HIBT buying amount - HIBT sell amount - HIBT withdrawal. (Note: Deposit and mining output HIBT will not be count in contribution value)
2.Trigger condition: HIBT trigger price is pre-setup at the beginning of each round, it will not change during the current round. If the price of any HIBT transaction is greater than or equal to the trigger price at certain time, the prize pool will be triggered.
3.Prize distribution: after the prize pool was triggered, HIBT's positive contribution ranking competition continues. HiBTC will distribute the bonuses according to user’s HIBT positive contribution amount on the 23:59:59 (UTC time) on the trigger day. The top three contributors will be awarded 50%, 20%, 10% of total prize pool. The remaining 20% will be assigned to other HIBT positive contributors at the trigger day according to the proportion. (If the prize pool is not triggered on one day, the HIBT positive contribution ranking will be reset at UTC time 23:59:59, it means the HIBT positive contribution users not at the trigger day are unable to get the prize).
4.The prize will be distributed to the winner's HiBTC wallet within next day.
THE HiBTC EXCHANGE (Additional Features)
• SECURITY: Like I mentioned Earlier, my first priority when I am researching about any exchange is security of my funds and it seems this is something I and the team behind HiBTC have in common, security is a priority in the exchange and this is why they collaborated with a top security company and added other hack repelling features like using multi-layer firewalls, multi-signature, and cold hot money bag isolation programs all in a bid to ensure that the funds of users in the platform is never tampered with, I was quite impressed when I saw the security measures that has been implemented especially the cold hot money bag isolation programs.
• SPEED: Any self respecting trader would have to admit that this is second priority in any exchange platform especially when you have traded in an exchange that lacks scalability, the HiBTC Exchange is capable of 2 million transactions per second because if it's world class transaction framework, slow execution of orders would never be a worry.
• TRANSPARENCY: HiBTC would be publishing all data that is relevant to it's users and it would be easily verifiable, these data include transaction data, income, mining data and voting data.
Find Out More:
Website Link: https://www.hibtc.com
Twitter: https://twitter.com/HiBTC_Exchange
Telegram: https://t.me/www_HiBTC_com1
Writer's Info
Username: Nich01as
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1136362
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