|Brief||BW.com belongs to the cohort of newly emerged decentralized cryptocurrency exchanges since it was established only two years ago.|
|Last updated:||Thursday, September 24, 2020 3:00:03PM UTC|
|Volume 24 hours, USD:||190 574 285|
General BW.com facts, technical details and general information about BW.com exchange
BW.com belongs to the cohort of newly emerged decentralized cryptocurrency exchanges since it was established only two years ago. BW is an abbreviation for Bit, which is the smallest informational unit, and W that actually stands both for World and Wealth.
It depicts the philosophy of the team that stood behind the platform development - to help shape the world as a unity of self-governing communities which get a share of the wealth, created by means of the platform.
BW.com started as an online mining pool, which enjoyed some popularity at the inception of the crypto industry. In 2017, the pool was acquired by CollinStar Capital, the crypto asset management firm which claims to be one of the biggest in the Asia-Pacific region. As a result, BW.com made a shift towards cryptocurrency trading while maintaining a firm rooting in mining. In essence, this platform is an example of the crypto exchange that is based on the foundation of the mining pool.
It would be interesting to know that BW.com operates in tight conjunction with another cryptocurrency exchange and cryptocurrency trading network - ZB.com, a relatively popular platform that had been launched in the year when Chinese authorities placed a ban on ICO’s. BW.com acts as a contractor trading platform, the upgraded version of which will become an integral part of the ecosystem of ZB.com through the formation of a long-term strategic partnership.
As of writing, BW.com occupies the 35th position on CoinMarketCap by the reported trading volume while ZB.com is placed slightly higher at the 29th spot. The former has a more substantial monthly trading volume that accounts for $23.5 billion while the latter boasts a bigger daily trading volume of $544 million, compared to BW’s $442 million. According to some stats, this exchange is especially popular among Japanese traders which migrate to foreign platforms due to the toughening of crypto regulation in their home country.
BW.com currently supports 51 cryptocurrencies and offers 117 trading pairs but, unfortunately, it doesn’t support any fiat currencies. The design of the Trading View is void of any unusual features, so it should be understandable even for a newly registered user. The list of trading indicators is quite extensive, which facilitates the carrying out of a more profound technical analysis.
The platform also features BWB, the native token compliant with the ERC-20 standard. BWB has an extensive scope of application as it grants holders the right to acquire dividends, carry out the election supervision, participate in revenue distribution and decision making, and, of course, use it as a trading vehicle.
BW.com imposes a flat fee of 0.1% for makers and takers in both spot and margin trading, which is definitely below the industry average of 0.2%. The withdrawal fee, however, aligns with that on most trading platforms and constitutes 0.001 BTC for Bitcoin withdrawals. The exchange also runs a Market Maker program which admits users who contribute to the platform’s overall liquidity. The participants in this program are relieved from trading fees.
Author: Alex Paulson for Crypto-Rating.com
|BW.com volume change 24 hours||-3.57%|
|Exchange||Volume change, 24h|