|BitMax is a digital asset exchange / crypto exchange that serves the crypto space via no less than 62 active markets. A BitMax exchange review also reveals that they offer access to various cryptocurrency pairs.|
|Volume 24h||$343 295 439|
|Updated||Monday, March 22, 2021 3:00:04PM UTC|
BitMax facts, technical details and BitMax information
BitMax is a digital asset exchange / crypto exchange that serves the crypto space via no less than 62 active markets. A BitMax exchange review also reveals that they offer access to various cryptocurrency pairs. A blockchain-driven user-based value exchange system that enables improved efficiency, when it comes to organizational cooperation, seems to be at the heart of BitMax’s vision.
The platform of BitMax.io initially supported the crypto-to-crypto spot trading model. Since the launch, the platform has implemented other advanced order types, such as limited order, stop limit order and stop market order, and expanded to margin trading and other account balance management services. In the early stage of the trading platform setup, BitMax.io provided the support to the following mainstream tokens: BTC, ETH, BCH, LTC, USDT, Other top ERC20 tokens.
BitMax also offers a financial product that is based on cryptocurrencies or digital assets called, BitTreasure. In essence, it seems to be a form of digital asset lending that offers stable returns via a variety of token investment options, including more than one investment term (30 days, 60 days, 180 days).
BitMax is – like so many other exchanges – from Singapore. The platform launched in August 2018 and is available at two different domains: BitMax.io and BTMX.com.
The team behind the exchange is spear-headed by three individuals: George Cao (Co-founder and CEO of BitMax.io) , Ariel Ling (Co-founder and COO of BitMax.io), and Shane Molidor (Global Head of Business Development at BitMax.io). These individuals all have experience from asset management, banking and finance. BitMax today supports trading in a quite decent number of cryptocurrencies. You can find all of the biggest ones here, and the platform has 190+ trading pairs and 40 different margin trading pairs.
BitMax also offers leveraged trading to its users. This means that you can borrow money from the exchange in order to buy crypto. The interest rate depends on the trade but can apparently be as low as 3.65% per year (0.01% daily). As you can imagine, leveraged trading can lead to great profit but also to great losses.
For instance, let’s say that you have 10,000 USD on your trading account and bet 100 USD on BTC going long (i.e., increasing in value). You do so with 100x leverage. If BTC then increases in value with 10%, if you had only bet 100 USD, you would have earned 10 USD if you simply held Bitcoin. Now, as you bet 100 USD with 100x leverage, you have instead earned an additional 1,000 USD (990 USD more than if you had not leveraged your deal). On the other hand, if BTC decreases in value with 10%, you have lost 1,000 USD (990 USD more than if you had not leveraged your deal). So, there is clearly potential for huge upside but also for huge downside…
In an email sent to its users on 14 June 2019, BitMax announced the launch of a new product: The Turtle Card and The Bunny Card. These cards are – in spite of funny names – serious products, that allow you to benefit from betting on the volatility of a certain cryptocurrency during a certain time period. The time period could be anything from 10 minutes up to 1 day. If you believe that the relevant cryptocurrency will show volatility exceeding 1% during the time period, you purchase the Bunny Card. If you believe the movements will be slow and show volatility less than 1%, then the Turtle Card is the right bet for you. You can’t buy a card more than 250 times though.
As many other exchanges, BitMax does not accept US-investors on its platform. If you’re from the US and you’re looking for the trading platform that is just right for you, don’t worry. Use our Exchange Finder to find an appropriate exchange accepting US-investors.
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the trading views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at BitMax:
Many exchanges charge what we call taker fees, from the takers, and what we call maker fees, from the makers. The main alternative to this is to simply charge “flat” fees. Flat fees mean that the exchange charges the taker and the maker the same fee. This exchange charges a base fee starting at 0.10% per trade for large market cap assets (0.20% for "altcoins"). 0.10% is for the users with the lowest VIP-level (VIP 0).
Available through the Wallet tab on the LINE app-used by 81 million MAU in Japan alone—BITMAX is a simple and secure cryptocurrency exchange that makes getting started easy even for beginners at cryptocurrency trading. Putting peace of mind and security at the forefront, the BITMAX exchange will allow users to trade five types of cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), and Litecoin (LTC). BITMAX is a separate service from the BITBOX cryptocurrency exchange,*2 the latter of which is already available worldwide (excluding Japan and the US).
LINE is making money more accessible to people around the world by developing and delivering a wide range of financial services unique to LINE. As part of these efforts, the company's Singapore-based subsidiary LINE Tech Plus PTE. LTD. has been operating the BITBOX cryptocurrency exchange since July 2018. In the leadup to BITMAX's launch, LVC became a registered cryptocurrency exchanger under Japan's Payment Services Act.
Under its corporate mission of "Closing the Distance," LINE strives to create value for its users by making the LINE app into a gateway for a "Smart Portal" that seamlessly connects all types of people, information, content, and services—both offline and online—as close as they want, anywhere they are, 24/7. In the Fintech domain, LINE is aiming to provide a highly convenient user experience by connecting people and money at the most comfortable distance. To that end, the company is taking on new challenges in business areas such as payments, investment, securities, insurance, household budgeting, and loans.
In recent years, Japan has been shifting more and more towards a cashless society. At the same time, technological advances have also generated a bevy of Fintech services, changing the very way people think about money. Among these Fintech services, LINE sees the cryptocurrency industry as one with new user needs waiting to be met and the potential to deliver next-generation technological paradigms. Additionally, proof of concepts for blockchain—the core technology of cryptocurrency—have been flourishing in many different areas, demonstrating the technology's potential to change future ecosystems and economic systems. LINE itself has also already unveiled its LINE Token Economy concept,*3 which will use the company's proprietary blockchain network LINK Chain in building an ecosystem that fosters a co-creative relationship between users and service providers.
Having anticipated Fintech's changing user needs and technological background, LINE (through LINE Tech Plus) launched the BITBOX cryptocurrency exchange globally last year. This time around, the company has completed registration as a cryptocurrency exchanger in Japan and launched the BITMAX exchange for the domestic market.
While numerous existing exchanges already have a large customer base, LINE sees cryptocurrency exchanges as still in their infancy, and believes the industry has potential for even greater growth. Along with the various services offered on the LINE app (currently used by 81 million users in Japan and a total of 164 million users across LINE's four key markets), the company has been one of the heaviest investors among Japan's internet businesses into security measures. This approach has extended to BITMAX, offering users a reliable and stable service that prioritizes security and safety above all else.
* Crypto Rating accepts no liability for any errors in the BitMax information and BitMax trade volume. For the most up-to-date prices please visit the BitMax's official website.
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|1||Binance||2017||4.7||341||54 116 969 590||28.14%|
|2||Coinbase Pro||2014||4.6||49||4 342 960 485||36.24%|
|3||Kraken||2011||4.5||62||2 991 100 180||36.85%|
|4||Bitfinex||2012||4.4||146||1 387 204 084||61.17%|
|5||KuCoin||2017||4.2||282||2 475 873 413||23.14%|
|7||Upbit||2017||2.9||168||17 014 338 517||7.48%|
|8||Huobi Global||2013||4.3||314||16 066 293 949||50.47%|
|9||OKEx||2014||3.6||242||14 488 406 321||31.87%|
|10||CoinBene||2017||2||113||5 020 717 633||1.95%|
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