Cryptocurrency enthusiasts and investors will want to pay attention to what BitXmi brings to the table. The ecosystem underwent substantial growth in 2021, and more is on the horizon for next year. Moreover, the BXMI token gains more traction as a payment method, among other use cases.
Building BitXmi’s Ecosystem One Step At A Time
There is no shortage of ambitious cryptocurrency and blockchain projects on the market, yet delivering on the initial vision can pose challenges. Moreover, there is tremendous competition in the exchange world, both from centralized and decentralized projects vying for the top spot in the industry. It may seem impossible to compete with established brands, yet BitXmi is confident they can offer something useful and innovative.
A first topic to note is how the Monetary Authority of Singapore regulates BitXmi. The cryptocurrency industry is often labeled as a “Wild West” despite numerous companies adhering to regulatory guidelines. BitXmi’s approach to this aspect is commendable, as it confirms their focus on being compliant. Moreover, the regulatory approach appeals to both novice and advanced traders, allowing for expanding the user base quarter over quarter. These users will benefit from the platform providers’ vast array of trading tools, along with the peace of mind due to the platform’s compliant nature.
However, it is crucial to note BitXmi doesn’t lose track of the overall trading of crypto assets either. Unfortunately, novice users often find themselves overwhelmed by all opportunities and information. To counter that problem, BitXmi offers an educational solution revolving around the underpinning economic aspects of the cryptocurrency industry. Education can help attract more people and help users optimize their trading experience.
A Versatile And Efficient Trading Experience
Looking beyond the educational aspect, BitXmi provides numerous trading options for users to explore. These options include:
– Spot and margin trading
– OTC trading (up to $100,000)
– Contract trading
– Convenient account funding through fiat currency payments, including credit card support
– The future NFT marketplace supporting diamond and gold commodities
These features are provided through an environment prioritizing fast transactions, low fees, and thorough risk management solutions. The regulated nature of the platform will require users to complete a Know-Your-Customer verification procedure. However, that procedure can be completed relatively quickly, providing access to daily withdrawals worth up to 99 BTC per day and 24/7 customer service.
The Purpose of The BXMI Token
It is common for [centralized] crypto exchanges to issue a native token. In most cases, that token will provide a way to reduce trading fees or access additional services. The BXMI token, launched in Q3 2021, lets users own a share of income generated by the BitXmi trading platform and any future projects under the same banner. The trading fee discount is a bonus for users to explore.
BitXmi issued the BXMI token on the Ethereum blockchain through the ERC-20 token standard. There is a circulating supply of 70 million $BXMI. Users can find the token on Coinmarketcap and Coinbase, although the latter platform does not support trading of the token at this time. It is also on CoinTiger and DEXTools – providing access to trading opportunities – and will make its way to decentralized exchanges over the coming weeks and months.
Bringing utility to ecosystem tokens beyond the revenue and trading fee discounts is essential. The BitXmi team is pleased to confirm BXMI is listed on CoinPayments and Cryptwerk, bringing the token to potentially millions of businesses globally. These developments bring prominent attention to the broader ecosystem and confirm the potential of BXMI as a payment solution.
The BXMI token is held by 68 holders, indicating there is still time to get involved at this early stage. Additionally, the token price holds its own at $0.4.
What Comes Next For BitXmi and BXMI?
The future looks interesting for BitXMi and the native BXMI token. Bringing the token to more exchanges will enhance its exposure and introduce a broader distribution. Additionally, the ERC-20 token standard ensures BXMI is compatible with decentralized finance products and services, creating potential opportunities for the future. A liquidity pool with a high APR was established with CoinTiger a while ago.
The exchange platform will undergo constant evolution and upgrades too. The expansion into non-fungible tokens is something to look forward to. It paves the way for trading diamonds and gold over the blockchain at a 0% transaction fee, which wasn’t possible before. Tokenizing gold and diamonds on the blockchain occur through a convenient user portal, and prices can be set in USD or BXMI tokens. Creating tokenized gold or diamonds will require a certificate of authenticity to prove ownership.
There are many aspects of the trading platform and the token to like. Both BitXmi and BXMI offer future potential by exploring new options, products, and services. The exchange has a seamless KYC procedure to onboard new users, and the support for traditional payment solutions to fund one’s account will prove beneficial. Moreover, low fees and high withdrawal limits are always in high demand.
BXMI has, as a native token, a lot of utility at this early stage. The primary selling points are achieving trading discounts and earning a revenue share of the exchange and future projects under the BitXmi banner. However, there are other opportunities to be explored by the team which will bring even more attention to this ecosystem. The potential for DeFi opportunities is huge, as the ERC-20 token standard makes integrating BXMI into existing and future protocols straightforward.
Additionally, exploring non-fungible tokens is something to keep an eye on. Unlike other projects, BitXmi wants to expand the appeal of this technology to gold and diamonds. Tapping into new liquidity streams will bring more eyeballs to NFTs and enhance the appeal of cryptocurrency and blockchain.