The year 2018 is the year of blockchain. The success of bitcoin, boom of ICOs, and wealth of new exchanges is like Pandora’s Box, luring numerous blockchain fans, venture investors, and experts from all walks of life. bitcoin has been accepted by the public as a means of value storage, with the market value of a single bitcoin once exceeding $18,000 USD. This surge in value greatly amplified the importance of cryptocurrency investing. However, trading cryptocurrencies remains difficult for the general public. Policy variations between countries and difficulties exchanging fiat with cryptocurrencies present an ongoing challenge. is a simple, intuitive solution to these problems.
TAP: a one-stop shop for cryptocurrency trading
TAP offers one-stop services for all cryptocurrency participants, removing financial boundaries by supporting seamless connections with all banks and exchanges. After depositing fiat currency into TAP, users can trade various cryptocurrencies using one app and a single KYC process. Users can also send any crypto asset to anyone, anywhere in world for free and the asset can be used by the recipient instantly.
TAP is designed to make cryptocurrency investing accessible to everyone, regardless of their experience or knowledge of the subject. It provides customers with the absolute best price and availability for exchanging various cryptocurrencies, allowing them to grow and manage their portfolios with the push of a button. TAP is the powerful “middleware” that adds an unprecedented level of convenience for the cryptocurrency industry while also providing a physical payment card. This will greatly benefit the cryptocurrency community and help pave the way for adoption.
TAP has chosen the path of extreme simplicity, providing a wealth of functionality all within a single app. “Less is more”, however the more simple the product is to use, the more difficult it is to develop. The TAP team faces many obstacles to overcome but the journey will be just as grand as the destination.
Meeting the right people: AlphaBit and FBG become key investors
Investors are important for all projects, especially those being incubated in the blockchain industry. Investment funds are the pillars of startups and innovative enterprises. The capital of investors and their assistance in management play a critical role. The best investors often act as appraisers and market analyzers who help startups and innovative enterprises choose the best markets for their ideas. Matching the right company with the right investors is crucial to the success of both parties.
On October 22, 2018, AlphaBit and FBG Capital became key investors of TAP. AlphaBit is one of the first standardized cryptocurrency funds and the largest in the Middle East. FBG Capital is described by Forbes as “the hottest cryptocurrency fund in Asia”. The investment in TAP from these two key players sparked intense media coverage from platforms such as Yahoo Finance and NASDAQ.
Liam Robertson, CEO of AlphaBit said:
“We are glad to become one of the key investors of TAP. It is a very important project for the industry. It not only makes cryptocurrency more accessible to new investors but streamlines the operation for existing investors. In addition, the project team has the ability and experience that can truly advance the technology and benefit the entire cryptocurrency community. The project, once finished, will bring benefits to investors.”
Development milestone: TAP releases third alpha version of their app
With resources in place, focus has now shifted to project fulfillment. Fulfillment is the intrinsic requirement of a project while milestones are staged goals or victories. In other words, milestones are indicators of project progress towards fulfillment. In this regard, TAP is making great process. On October 20, 2018, TAP released the third alpha version of their app and the beta version is expected to be released soon.
The main feature of this update is the integration of exchanges. The app will scan all exchanges to locate the best price for the given trade and the middleware will read and exchange the order book. Trades will be split among different exchanges if a better price is achieved this way for users. TAP currently supports four exchanges: Binance, Kraken, BitMax and BITFINEX. Binance, as we all know, is a premium exchange from China and is often hailed “the pride of the Chinese”. Kraken is a bitcoin exchange with the largest transaction volume in Euros and has now become one of the most dynamic digital currency exchanges in America. BitMax is an emerging exchange with a backfilling mode still in demonstration. The team is made up of individuals from Danhua Capital and Wall Street. Bitfinex is a Hong Kong exchange with the largest BTC-USD transaction volume. Besides token-to-token trades, it also supports direct trading of USD and various digital currencies, as well as leveraging and point-to-point financing. With the support and inclusion of more and more exchanges, TAP is able to offer customers the best price in any trade. Users can also exchange any supported cryptocurrency with another digital or fiat currency through a single click without having to use BTC or USDT as an intermediary, reducing trade commission fees – simplicity at its best.
Although only certain transactions are supported in the early version of the app, it enables exchange between fiat and cryptocurrency as well as the exchange between two cryptocurrencies. In only two short minutes with the app, users will understand the convenience it provides. Converting bitcoin to other currencies can be achieved in just one tap!
The rhythm of a project is crucial. Application versions can differ drastically, and progress can be challenging to realize. However, a steady release cycle indicates progress. As TAP draws closer to realizing their goals, drastic changes to public awareness of cryptocurrency will likely result as people begin using the app as a simple method for asset management, payment, and transfer of funds.
TAP is on the way
Although the tides of blockchain ebb and flow, the momentum of cryptocurrency is unstoppable. Cryptocurrency is an integral part of the financial system (and has even shown signs of taking it over). Trading cryptocurrencies will be as easy as bulk trading commodities, securities, and funds. After the launch of the TAP card and app, the simplicity of TAP will surely spread quickly throughout the community as paves the way for the future of cryptocurrencies.
With its relentless focus on transparency, reliability, and quality of execution and client services, has established itself as a clear leader in the crypto trading and exchange space.With a core management team comprised of experienced executives from Wall Street top-tier institutions, Deutsche Bank, Barcays Capital, Morgan Stanley, and Goldman Sachs, as well as highly skilled technical leaders with academic credentials from top-tier global institutions such as Columbia University, the University of Chicago, and Peking University, the BitMax.io team has attracted strategic investment from top venture capitals including Matrix Partners China, FBG Capital, BitMain, and Danhua Capital.
Since its launch on August 13, the platform has registered over 50,000 users across the globe and now boasts 25 active crypto trading pairs, with additional listings under review.
Beyond having an institutional-grade platform, an experienced management team led by Wall Street quant trading veterans, and the backing of top-notch VC firms, BitMax.io is also highly user-focused and provides a wide range of client-focused services and benefits for its users.
The first of many benefits Bitmax.io provides is record low transaction fees: On October 10th, 2018, Bitmax.io adjusted its trading fees from 0.1% to 0.04%, the lowest transaction fee in the industry. Furthermore, thanks to trading innovations such as transaction-fee based “Trans-Fee Mining,” BitMax.io provides high levels of liquidity while also allowing traders to earn BTMX, BitMax.io native tokens, as an alternate source of exchange income.
In addition to the financial benefits of the platform, BitMax.io also provides exceptional infrastructure support and seamless trading experiences, thanks to 24/7 global operations, real-time trade settlement, high trading frequencies, and the fastest transaction rates in the industry at 400k TPS.
BitMax.io also features deep and highly liquid order books. Not only is the platform’s infrastructure, mining models, and trading services designed to deliver high liquidity, but also due to the BitMax.io team’s in-depth wealth of experience and resources in the industry, it has been able to strike strategic partnerships with other platforms to deliver unprecedented services to its customers. Two of these partnerships, formed with Indian crypto exchanges and , will facilitate the sharing of order books across all three exchanges, thereby creating a deeper and a richer user base across the globe and providing users with higher liquidity and security from price fluctuations during trades.
The development of industry partnerships, the ability to attract users and strategic investments, and the introduction of innovative mining models that provide traders with alternative sources of income all play in favor of BitMax.io’s future growth and success as a trading platform. As part of its growth, BitMax.io is publishing detailed distribution rules for BTMX tokens that are mined during transaction mining, which are as follows.
Distribution rules
Since BTMX tokens constitute a new form of utility value on the BitMax.io platform, BTMX token holders who agree to share transaction data will receive further platform benefits as an incentive to continue holding BTMX. BitMax.io will pay users for BTMX usage data, including mining, execution price, and other token circulation information in order to better manage BTMX statistics on the platform. Users who sign up and agree to share their token transaction information with BitMax.io will have 80% of the total platform transaction fee revenue distributed back to them.
Furthermore, in order to stabilize the daily distribution rate that is in effect every day, a Data Usage Fee Pool (“the Pool”) will be set up using 80% of net transaction fee revenues. The Pool will redistribute 1/180 of the balance back to BTMX holders.
Daily Deposit into the Pool = Daily Net Transaction Fee * 80%
Daily Distribution of the Pool = Daily Data Usage Fee Pool Balance / 180
Individual Share of Platform Data Usage Distribution = Daily Distribution of the Pool * (24HR Weighted Average BTMX position / Aggregation of Total User Effective BTMX Position)
Daily settlements of data usage fee distribution will start at UTC 00:00 based on the previous 24-hour distribution amount and will be paid into individual user accounts on BitMax.io at UTC 04:00 in the currency in which user transactions were executed.
has quickly risen to levels of prominence in the cryptocurrency trading and exchange space. It provides traders with revenue-generating trading models such as transaction mining that differentiates maker vs taker trades, along with user-friendly features such as the real-time settlement of trades and institutional-grade trading architectures that support seamless trading experiences. High liquidity, deep order books, and easy-to-use trading and investment services designed by the highly technical and experienced management team also add to BitMax.io’s service offerings, ensuring robust growth and improved user features and services in the future.
