Launched in November 2017, Bibox is an up-and-coming cryptocurrency exchange specializing in altcoins. Bibox Token works similarly to Binance Coin or KuCoin Share – token holders enjoy a 50% reduction in trading commissions on the Bibox exchange in the first year, 25% in the second year, and so on.
Full report by Crush Crypto: https://crushcrypto.com/bibox-crusher-feb-18/
PDF of the presentation: https://crushcrypto.com/wp-content/uploads/2018/02/CrushCrypto-Crusher-of-the-Month-Bibox-BIX.pdf
Bibox official website: https://www.bibox.com
Bibox whitepaper: https://crushcrypto.com/wp-content/uploads/2018/02/Bibox_Whitepaper_en.pdf
Download the free ICO Guide which contains 6 simple steps for analyzing any ICOs to find the winning projects: https://crushcrypto.com/youtube/
Note: This is not a paid review. We do not offer promotional or advertising services. Our content is based on our own research, analysis and personal opinion.
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In our Crusher of the Month series we will select a coin or token each month that we have high conviction in. Here are some reasons why we selected Bibox (ticker: BIX) for our February 2018 Crusher of the Month:
#1: Bibox is well poised to take advantage of the slowdown in altcoin listing
Just two months ago, Binance was listing new ICO coins on its platform very quickly and had the trading volume to support these new coins.
However, perhaps because Binance hit their capacity, it has slowed down its new listings drastically and new ICO coins had to find somewhere else to list.
KuCoin has been aggressive in listing new coins, but for some reason the trading volume is still not very high. Same thing with IDEX. Bittrex is starting to list altcoins again, but those coins have been trading for a while and are not new ICO coins.
Therefore, there is a need for exchanges that list new ICO coins quickly with high volume. This is where Bibox steps in.
In the past 2 weeks, Bibox added Fusion (FSN), CPChain (CPC), and Trinity (TNC) on their platform, all of which have fairly high trading volume. In fact, for the tokens that are listed on both Bibox and KuCoin, the trading volume on Bibox is higher.
Cryptocurrency investors have shown that they have no brand loyalty when it comes to exchanges. Exchange rankings change all the time. Just a few months ago, Poloniex and Bittrex were some of the biggest exchanges. Huobi Pro and Binance didn’t even exist 1 year ago. Users care about trading pairs and volume and they would not hesitate to switch to another exchange if it serves their needs better.
#2: BIX is undervalued compared to other similar tokens
Bibox is most comparable to KuCoin – both specialize in altcoins and have an exchange token that works the same way. We also throw in Binance here for comparison purposes.
Based on a metric that compares trading volume to market cap, KCS trades at a 5x premium to BIX despite Bibox having 2.5x the trading volume of KuCoin. Using this metric, one could argue that KCS is 12x overvalued (or BIX is significantly undervalued).
Under this metric, BNB is actually 15% undervalued compared to BIX. However, we still consider BIX to be significantly undervalued compared to BNB because (1) BNB’s utility resets in August while it resets in November for BIX as Binance launched a few months earlier than Bibox, (2) Binance is already the #1 exchange, so the growth prospect is much lower than Bibox.
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Disclaimer
The information in this video is for educational purposes only and is not investment advice. Please do your own research before making any investment decisions. Cryptocurrency investments are volatile and high risk in nature. Don’t invest more than what you can afford to lose. Crush Crypto makes no representations, warranties, or assurances as to the accuracy, currency or completeness of the content contained in this video or any sites linked to or from this video.
