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What is Bibox?
Bibox Exchange is a young Chinese cryptocurrency marketplace with big ambitions. It appeared in 2017 and is gradually gaining positions in the market with increasing trading volumes. There are several languages available on this exchange, including Russian. Localization allows CIS traders to easily start working with this platform. Bibox offers wide functionality not only for private traders and investors but also for companies. According to Coinmarketcap, the turnover of the platform per day is almost 20,000 BTC. Many users say that Biboxs interface, functions and business mode is very alike with its main competitor aka other Chinese exchange platform – Binance. Moreover Bibox uses same strategy to lower commissions by introducing its own coin very much like Binance.
Commission fees on Bibox
Already on the main page of the exchange displays the current rates of cryptocurrency. They are divided into markets: BIX; ETH; BTC; USDT; DAI. There is a field for a quick search for currency, as well as the “Favorites” function. Fiat on the platform is missing, there is only Tether. You can replenish any of the Bibox cryptocurrency accounts without commission, and when removed, the site keeps a fee equal to the network commission. Commission size:
- Bitcoin 0.0004 BTC
- BIX Token 3 BIX
- Ethereum 0.005 ETH
- Ethereum Classic 0.005 ETC
- Bitcoin Cash 0.005 BCH
- Litecoin 0.005 LTC T
- Tether 35 USDT
- EOS 0.3 EOS
The amount of commission may vary, depending on the situation and the load of a particular blockchain network.
Starting with Bibox
The Bibox site uses an SSL certificate that protects user data from possible interception. No incidents of hacking or long delays occurred during transfers. Unless there were claims of non-payment by the exchange of awards to partners who were engaged in attracting new users. To protect users and their accounts added 2FA, SMS confirmation, payment password. The personal account records the time of authorization and the IP address from which the login was performed.
Bibox works with ETH, BTC, USDT, and DAI. This is a digital asset exchange, fully tied to AI. Here you get the opportunity of peer-to-peer trading in the same way as on the decentralized EtherDelta Exchange. The main goal is to provide a quantitative calculation and analysis of the trade. In the near future, it is also planned to add fiat currencies to the exchange. It is still unclear how the company implements the technology of artificial intelligence. The team has not yet released data on the internal work of its platform.
In addition to desktop applications for Windows and MacOS, which allow trading on the stock exchange with the highest speed and stability, Bibox offers Android and iOS mobile applications for remote work. Also, they can be downloaded by scanning the QR code in the “APP” section of the official website.
Security measures
For a short time, Bibox did not compromise its reputation – there was not a single incident of hacking, theft of funds or information. But there is one question that traders ask in a review to the site – where all the assets that are on the exchange are stored. The administration of the exchange has not yet released this important information. The simultaneous use of all options will ensure the most secure storage of digital assets and data on Bibox.
Review Recap
Traders increasingly prefer decentralized exchanges that offer a higher level of security and independence from external factors. This explains the success of the Bibox exchange from the very early stages of launch. Although the platform is already fully operational, it does not stop its development – the listing of currencies is constantly updated with new promising tokens, functions are added, increasing profitability and expanding the capabilities of Bibox clients.
WageCan Review
The company WageCan is a Taiwan-based which opened its doors in 2014. It is hosted by some of the most prominent people in the cryptocurrency space. These individuals have a vast understanding and experience in the technical world. WageCan opted to partner with MasterCard instead of Visa which differentiates it from most of the Bitcoin debit cards issuers in the market today. The debit card is most popular among freelancers on the go and digital nomads
What other features make it stand out from the rest? Hopefully, this review will highlight them in detail.
Advantages
- Since it is partnered with MasterCard, it is acceptable in 99% of the stores worldwide, making it exceptionally practical to carry.
- Another perk is the cheap foreign conversion rate it offers to its customers. It only costs 1.5% as for conversion fee which is half of what most of the debit card issuers charge.
- ATM withdrawal costs are also significantly lower when taking small amounts. Where most debit card issuers charge $2.5 or $3.50, it only charges 1%.
- The debit card features synchronized desktop and mobile wallets along with the card.
- The address of the wallet is printed on the card, making it easier to deposit new tokens.
- The card is accessible in 210 countries with over 30 million ATMs worldwide.
- The individual’s credit history isn’t checked, making it easier for everyone to order one.
- The firm offers a one-of-a-kind e-Residency option –something which is very progressive of them.
- There is a first-load award for users which no other debit card offers.
- Users also have the option for domestic currency withdrawals.
- Users can reap bonus awards as well in the form of referral credits to friends and upon top-ups.
Disadvantages
- When planning to take out large sums of cash, the 1% fee per ATM withdrawal may seem costly to some.
- The issuance fee of the physical card is higher than most of its competitors at $15.40.
- The virtual card costs $8.50
WageCan Bitcoin Debit Card Charges
- There are no monthly maintenance fees associated with the debit card. The foreign conversion fee is 1.5% only.
- Each ATM withdrawal costs 1% from an ATM.
Summary
- Physical card: Yes
- Virtual card: Yes
- Card type: MasterCard
- Mobile app: Yes
- Supported fiat currencies: USD, EUR, and GBP
- Supported cryptocurrencies: Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), and Litecoin (LTC)
- Anonymous: No
Golden Card –Another BONUS
Although in its Beta phase currently, the WageCan Golden will soon be available for the general public for use. There is a hefty $162 issuance fee associated. The card has a high withdrawal limit (up to $25,000). The company also plans to launch its very own Gift Card service. The Gift card will be able to hold up to $350 as cryptocurrency tokens. The company also features a HashCan card. It serves as a mining pool users can easily join with their mobile phones. It allows users to earn direct money spendable right away.
Decentralized Hedge Funds
Blockchain, cryptocurrency, trading, mining. In the company of these buzz words, one more thing recently appeared – hedge funds. The term that previously existed only in the financial market environment is now associated with high technology. There are engineers who build, manage and scale something called “hedge funds.” Many recommend them as the best way to invest in cryptoactives. However, for everyone else, the question remains “what are hedge funds and how to choose the best ones?” Let’s understand.
Things first – what is a hedge fund anyhow?
This is an investment tool. Without going into legal details, a hedge fund can be considered a pool of assets in various proportions that are managed by specialists – fund managers. A typical hedge fund in the securities market manages various stocks for several companies that make up a common pool. Since the pool contains different stocks and none of the assets dominates the others, the risk is reduced. In other words, the risk is limited, hence the name.
Are all hedge funds the same?
Most of the work of all successful hedge funds is based on unique market information available to fund managers. Thus, they can realize a market opportunity that no one knew about before. At the same time, the hedge fund may attract investors who will put their money earned in blood and then money at the disposal of managers.
The differences between the two hedge funds can be reduced to the unique data that each of them uses, and the decision-making process within the fund.
Are there different decision making principles?
Each specialist makes certain decisions, and depending on them, the value of the fund will increase or decrease. The financial incentive for these specialists (or fund managers) is directly proportional to the fund’s earnings. A manager who makes the right decisions time after time earns more than he regularly makes mistakes. This is the traditional way of making decisions in a hedge fund. On average, 200-250 managers who manage the fund and investors’ money work in one hedge fund.
The success of the foundation will be determined by the results of the work of these 200 people. However, intelligent people among us began to ask themselves: “Are 200 people enough? Will the fund work more successfully if this number is increased? ”The decentralized principle of decision-making was the answer to these questions.
How does decentralized decision making work?
The decentralization fashion has not passed hedge funds. The blockchain has taught us that if there is a protocol or method of organizing a large number of unfamiliar people with decent incentives leading to behavior that is good for this community, it makes no sense to limit the number of participants.
It looks so easy. Is this really true?
The basic economic principles are really simple. However, the devil is in the details. Like traditional hedge funds that operate on the basis of unique information, decentralized protocols must also use a unique opportunity that would be difficult for someone else to repeat.
Interesting examples include the Numerai funds, the protocol of which organizes data specialists, and God Token, whose decentralized protocol is used to organize thousands of miners. This is the principle of the decentralized hedge fund, although in the real world it can be much more difficult to use these protocols. In addition to technology, at every stage of the operation of such a protocol, the economy controls everything.
What is Bitfinex?
Millions of people today rely on cryptocurrency exchanges when trading digital currencies. When it comes to providing exceptional cryptocurrency services, the name Bitfinex comes to mind. As per its wiki, it has been a leader in the cryptocurrency market space handling $1+ billion exchanges on a daily basis. Ever since its launch in 2012, the firm has shown astonishing development.
Other than being one of the biggest names worldwide in the Bitcoin exchange, it also features a user-friendly and adjustable interface that allows clients to individualize their own interface.
In this article, we shall learn the basics of Bitfinex and all that it has to offer.
If you are planning to become a cryptocurrency trader, then you must know all about this exchange. Some of its biggest perks include multiple altcoins, advanced trading features, margin trading and much more. It also promises 10 various types of orders enabling users to trade without restrictions and deep liquidity.
Trading on Bitfinex
The exchange offers an extensive range of trading options which includes margin trading. Users can use the peer to peer funding center to trade with a 3.3 x leverage at max. Moreover, the buyers and sellers also have access to various order types including limit, stop and market orders. Currently, there are 72 market pairs linked to 4 base currencies such as BTC, ETH, EUR, and USD. Users can also use fiat currencies to purchase 2 big cryptocurrencies on the platform. Furthermore, the exchange also features altcoins for trading. These involve Tether (USDT), Monero (XMR), Ethereum Classic (ETC), Dash (DASH), Bitcoin Cash (BCH), Ripple (XRP), and Litecoin (LTC).
Who should use Bitfinex?
Other than in the US, the Bitfinex platform is conveniently available internationally. US citizens are banned from trading because of the limitations set up by the SEC. All the payments made on this platform are fully crypto. Previously, the platform used to make payments in USD. However, it has seized to do so today.
Understanding Tether
The platform uses a steady coin called the Tether (USDT) for the exchange. All the exchange users have a Tether funding option. Every tether token represents one United States dollar. Users can connect with other members of the Bitfinex community on web portals like Telegram, Twitter or subscribe to Bitfinex’s monthly newsletter to keep in touch with all the hot and happening in the Bitfinex world.
Security of Bitfinex
There has been a number of security concerns with Bitfinex in the past. Such concerns trigger the people running it to redefine their security-related protocols. As of today, Bitfinex uses modern-day and top-of-the-line security methods to secure cryptocurrency exchanges. Nearly all the funds (99.5% of them) are kept in cold wallets whereas the remaining (0.5%) are stored in hot wallets for exchange purposes. The Bitfinex website ensures the highest level of data encryption and follows duplication procedures as well as anti-DDoS to guarantee security. This means that no outside influence can prevent the trade from happening when transacted. The platform also offers a 2-step authentication, PGP encryption and utilize s Google Authenticator to ensure the utmost level of security for its users.
Final Word
Bitfinex is specially designed for professional traders which means that novices at exchange trading may find it a tad bit difficult to understand and work with. All those interested in learning exchange trading system can go through the pop-up dialogue box and read the terms and conditions listed before beginning to trade. You must have at least 10,000 USD account equity. Any user who doesn’t reach this limit may not be able to perform any transactions or trade on the Bitfinex platform.