Through the use of so-called models of mining trans-fee, lesser-known crypto currency exchange BitForex took the lead in trading volume.
As reported CryptoGlobe, some time figure is the daily trading volume of the exchange BitForex was kept at $14 billion To date, the value of this indicator decreased to $5.3 billion However, it is more than five times higher than in the popular exchange Binance.
Just yesterday BitForex launched her BF token, which users of the trading platform can produce according to the model trans-fee, previously involved in the exchanges CoinEx and FCoin.
#BitForex launches #BFToken on Aug. 2nd, and BF/USDT trading is available. BF mining is now live through #BTC/USDT, #ETH/USDT, #BCH/USDT three pairs. Welcome to mine and trade. https://t.co/spdcwttCnG pic.twitter.com/smvYT7YlKn
— BitForex (@bitforexcom) 2 August 2018 R.
The most popular cryptocurrency pairs on the stock exchange BitForex was BTC/USDT.
Exchange BitForex was launched in June this year. The site is based in Singapore, however, the registered owners were chosen Seychelles.
The company website States that 80% of the trade commissions are returned to the token holders BF. The latter in the future will have the opportunity to participate in resolving key issues of the platform and its community. Also stated that the BF offer is limited to ten billions of coins.
Model trans-fee (or Trade-to-mine) is a mechanism for obtaining issued by the stock exchange of tokens as awards for the trading activity of traders. Some platforms allocate a portion of their income among users as dividends, presumably with the aim of increasing market value and demand for these tokens.
Many members of the crypto community criticize the model trans-fee. According to them, using this scheme exchanges trading volume “pumped” mostly a lot of trading bots. This, in particular, creates opportunities for manipulation of different cryptocurrencies.
Chapter cryptocurrency exchanges Binance Chanpen Zhao at all convinced that the model of mining trans-fee is a hidden primary offer of coins (ICO). He once stated the following:
“Suppose the exchange does not receive revenue from transaction commissions, but only depends on the class of the token. How would it survive, not by manipulating the price of the token? You sure you’re ready to play against a price manipulator? Against the same manipulator that controls the trade platform?”
We will remind, in June briefly leaders by volumes of trades were Singapore and Hong Kong CoinBene Bit-Z.