Founded in 2017, Bibox is a digital asset exchange platform that allows users to trade cryptocurrencies. The team behind Bibox includes the co-founder of OKCoin, one of China's most successful Bitcoin exchanges.
Bibox Token (BIX) is widely used through various activities around the Bibox ecosystem. You might be wondering what the Bibox Token is and how to use it, so we're going to break down all of its features for you.
What is Bibox?
Bibox is a promising cryptocurrency exchange platform that was launched in November 2017 and has since been praised by experts for its fair features including transparency, safety, stability as well as accessibility to the public web users globally with secure transactions of cryptocurrencies. It is currently operating out of more countries than just China.
Bibox has taken an innovative approach to digital asset exchanges by introducing AI technology and is now considered the first artificial intelligence platform for this industry. Bibox uses advanced technologies in order to stabilize transactions as well as simplify operations. This means that Bibox offers a more efficient way of managing your assets than traditional methods without sacrificing quality or security standards.
Bibox is a crypto exchange that was once the top in China. However, its trading volume has declined significantly with only $270 million USD at this current time ( According to Coinmarketcap 23/08/2021).
What is Bibox Token (BIX)?
The Bibox Token (BIX) is a cryptocurrency built by the Bibox exchange in November 2017. When you hold this BIX Token in your account, not only will it grow with time but also allow for some privileges such as discounts on trading fees and other incentives like rewards/dividends that are given when holding an amount of this token long enough without withdrawal requests being made to their site.
Detailed information about BIX Token
BIX Key Metrics
- Ticker: BIX
- Contract: 0xb3104b4b9da82025e8b9f8fb28b3553ce2f67069
- Decimal: 18
- Blockchain: Ethereum
- Token Standard: ERC-20
- Token type: Utility Token
- Total Supply: 235,972,808 BIX
- Circulating Supply: 85,430,525 BIX
BIX Token Allocation
BIX Token Use Case
This coin can be used for the following main purposes:
- Trading Fee Discount: Bibox Token holders can use their tokens to enjoy discounts and reduced fees by trading on the Bibox platform.
- Voting Fees: Everyone from the community can vote to determine which tokens will be listed on the Bibox exchange. Users are required to commit a certain BIX amount for the process.
- BIX Incentive Reward: A certain amount of BIX will be bought back and burned regularly using the platform’s profit. This model is similar to other exchanges such as Binance and Huobi. The detailed information on the process is provided on the exchange website.
- Treasure Box Program: BIX token holders who are longing for a profit can now lock their tokens to receive not only the locked amount of BIX but also an incentive. The program guarantees that all participants will make money as long as they stay in it until the end date.
- Bibox Orbit: Bibox Orbit is the IEO launchpad from the Bibox exchange. The participation process on the Bibox Orbit is quite simple. The only thing you should do is to actually be a BIX token holder and follow a handful of instructions to buy into listed projects.
How to buy BIX token
You can use Coin98 Exchange to buy BIX token following these simple steps with: https://exchange.coin98.com/
Step 1: Connect Coin98 Extension Wallet.
Step 2: Select Uniswap.
Step 3: Choose coins/tokens for trading:
- Search BIX.
- If the result does not come up, you can paste the contract of BIX into the search box: 0xb3104b4b9da82025e8b9f8fb28b3553ce2f67069.
Step 4: Adjust the amount you want to swap.
Step 5: Adjust the gas fee, then click Approve.
How to mine BIX token
BIX is a utility token so mining is not possible.
How to store BIX token
You can store the BIX token on Coin98 Wallet with these steps:
Step 1: Open Coin98 Wallet & click Receive on the home screen.
Step 2: Search BIX Token.
Step 3: Click on the correct result.
Step 4: Copy the wallet address and send BIX to this address.
Roadmaps and Updates
Team, Investors, and Partners
Bibox is led by Kevin Ma, a man who has found success in the tech industry. He previously worked at Huawei Technologies where he served as their Software Engineer for 3 years and built up his expertise there before making the switch to Bibox.
Bibox has raised a total of $1M over the course of 3 rounds. Their latest round was on May 21st, 2019 from Private Equity firms all across Asia. Investors were able to invest different amounts during this funding event with minimum investment being priced at $10,000 USD.
Is BIX a good investment?
Investing in a cryptocurrency can seem like a logical choice, but it is important to consider all factors before making a decision. Here are some things you might want to consider before purchasing BIX:
- From being one of the top exchanges in China, Bibox now struggles to keep up with other exchanges. With the diminishing trading volume and a less-than-stellar interface, it's no wonder why users are looking for better options than Bibox.
- With a relatively small percentage of users with technical knowledge around the world, it is difficult for Bibox to stand out in the cryptocurrency market. The application of artificial intelligence systems has been one strong point that does not yet have enough impact on this issue.
- The Bibox exchange has been around for a long time but has been quite behind in the market. One example is they don’t have their own blockchain and tokenizing system while most others do - this can limit the use case potential of the token.
I hope you have gained all of the important information about BIX including its features and highlights throughout this topic.
If you have any questions about BIX or want to know more about BIX, please feel free to leave a comment below for further discussions about Crypto.