BITEX - The First Locally-Embedded Crypto-Bank
If you are reading this post, very likely you have at least some idea about crypto currencies. If not, well it is way too complicated to explain this issue here. There are dozens of forums and articles, where eggheads and just average people tries to figure out the phenomenon of Bitcoin, Ethereum, Ripple and other currencies, which prices are day by day closer to the moon (despite of time when they are falling like shot airplane like last couple weeks). So if you want to fulfill gap of your knowledge, check more specialized sites like bitcointalk.com and etc. Just please put the great attention on key words like: ‘ICO’, ‘Bounty’, ‘KYC’ and of course main slogan which attract millions of people to crypto currencies ‘rocket to the moon’. If you already did your homework, I can explain you the reason why I am writing this post.
ICO market is nowadays pretty similar to the Wild West during the gold rush period. It is possible to earn money very quickly, sometimes even good money, but you have to find a perfect spot, or in this case, a good project to invest. Common thing to the Wild West? No guaranties and almost no law. It is pretty easy to find bad cowboys which are going to promise you golden mountains to steal your last piece of bread. So in all this mess, if you want to find your gold nugget, you can trust just your own brain composites.
So did I and during my research I found the project in which I really put my faith: BITEX. Very likely you haven’t heard about them, project is made by great team members. Nevertheless, guys have an advantage, many other teams does not: already existing product made on a very perspective field. But these are not all pluses I found in this project. Below you can read the analysis and decide on your own, do you want to send some pennies to the pot. The analysis I will present consists of parts, and each of them shows this project from different angle. So, let’s go!
BITEX will provide hyper-localized crypto-banking services through their global platform to promote efficient growth across multiple continents, focusing predominantly on Asia. Cultures differ in their banking preferences - a localized strategy allows for more focused and calculated decision making. The Bitex crypto-banking solution is created to benefit those that are poorly or not served by traditional banking system. This new cryptobank will re-establish the very purpose for which a bank was created in the first place (an institution that helps the economy function and grow by providing a way to manage savings, provide means for payments and money transfer, and facilitate loans). The Bitex has identified the Asian and Middle East markets as they are growing and, from notice, need a robust cryptocurrency based financial system. It is thought that, the impact of the Bitex platform will be best demonstrated in these markets.
SERVICES BITEX OFFERS
• A decentralized, distributed and immutable ledger which cannot be affected by any single point of failure or compromise.
• A global scale, unhampered by national boundaries, although subject to national/local laws pertaining to banking and finance.
• The ability to conduct escrow payments through cryptography rather than traditional, time consuming payment methods.
• The ability to carry out pseudonymous transactions between parties where trust is captured through cryptographic means rather than written contracts or external supervision.
• Include cryptocurrencies as equal partners to fiat currencies in transactions between individuals, individuals and businesses, and between businesses.
FEATURES OF THE BITEX CRYPTO-BANKING PLATFORM
• EZBitex: the currency exchange and banking infrastructure with a decentralized, distributed and immutable ledger provided by Bitex, which underpins the functioning of the entire system
• BitexPay: the next generation payment solution for both consumers and merchants.
Knowing fully well that Bitex is precise in all its banking designs and nodes, This emphatically maintains the efficiency, efficacy and effective nature of the bitex operations related to the blockchain. Blockchain-based solutions built on Ethereum, using public distributed ledgers, cryptotokens and smart contracts offer participants a means of creating value through trusted and transparent interactions on a global scale. This structure is particularly suited for the creation of a banking platform. Hence, bitex hopes to bridge this gap and create a harmonized link for banking operations dynamically but dependent on blockchain adoption mechanism and systems. As a result, bitex will harness all banking operations and create its strategic presence following the preference of its community in a more transparent, scalable, quintessential and maintained focal example commonly. Furthermore, bitex will offer all wanted banking offerings of bills operations, buying and selling, withdrawals, deposits and loans in maximum cases with the powerful strength of cryptocurrency frameworks.
TRADING ON EZBitex PLATFORM
Consumers that wish to trade in cryptocurrencies using the crypto-exchange services of the EZBitex platform will populate a Trading Wallet associated with their account. The crypto assets in this wallet can be used for various orders for margin trading, limit trading, leverage, etc. Consumers participating in trading will pay trading fees denominated in each cryptocurrency they sell whereas for fiat currency the fees will be converted into XBX tokens at the current market price on the EZBitex exchange automatically.
The EZBitex platform will offer APIs to key functions of its global platform to allow developers to create local banking applications. To this end, Bitex will provide the following resources:
● The Bitex Open API will allow local merchants to implement BitexPay and “Powered by Bitex” applications that are tuned to local needs (e.g., language support);
● A Bitex Marketplace where various merchant applications developed through the Bitex Open API are available to other merchants;
● A Bitex Developer Program that encourages local developers to work with local merchants to bring novel applications to the Bitex marketplace
TOKEN AND ICO DETAILS
The XBX token is therefore the utility token that allows various stakeholders in the Bitex financial ecosystem to use its offered services.
Token: Bitex coin
Total Supply: 300 million xbx
Soft-Cap: 1,000,000 xbx
Price in advance of tokens: $ 0.5 = 1 xbx
The cost of one xbx sign: 0.7 to $ 1.0 on the end of the sale rate
70% - Sold to public
15% - Reserved funding
9% - Founders and Team
3% - Advisors
1.5% - Bounty
1.5% - Campaign
USE OF FUNDS
17% - Legal and accounting expenses for expanding to new regions
47% - Ongoing development of all Bitex platforms
13% - Comprehensive marketing campaign material
10% - Recruitment of banking team and expertise in financial industry
5% - Investment in developing Bitex related Apps and platforms for future expansion
8% - Administrative expenses for running Bitex global
The Bitex token (XBX) is ERC20 compliant on the Ethereum blockchain and is of 18 decimals, with a token contract address of 0x2c745664FB4e9528fB32487D834e4aACffF1F027.
THE PRE-SALE is LIVE
50% discount on XBX tokens and Limited supply also. Get registered now here https://kyc.bitex.global/
ROADMAP AND DEVELOPMENT PERSPECTIVE
Above you can see the roadmap — how the team sees their nearest and long-term future.
TEAM MEMBERS AND ADVISORY MEMBERS TO THE PROJECT
Team seems to be the strongest part of this project. It consists of innovative and talented people. Of course I cannot complain if we talk about their professional level, guys indeed are experts on their field.
At Bitex, Customers can maintain their own crypto-wallets on their mobile devices. Note that, no private keys are shared with the EZBitex platform. Storing of other customer wallets on the Bitex platform as well as using the platform only when needed will guarantee the security of customer assets from hacks. In the near future, Bitex also plans to encrypt development source code and also use PCI Standard Certification for security. Consumers will not be denied the ability to buy cryptocurrencies in any exchange using credit cards form third parties that are “Powered by Bitex” or their BitexPay debit cards.
Cryptocurrency is the future of payments. Bitex is an all in one cryptocurrency solution for your daily needs.XBX will be taken as fees in all our transactions as a utility token. XBX (Bitex Coin) will be listed on EZBitex after ICO end. Be a part of this tremendous project and follow these links for more information;
Facebook : https://www.facebook.com/bitex.global/