Bgogo Exchange ReviewCentralized
Bgogo is a cryptocurrency exchange / digital asset exchange that stands apart from other crypto exchanges by being the first to offer supernode listing authority. This helps to ensure that only digital assets of the highest quality get listed. A Bgogo exchange review reveals that this is accomplished by providing each supernode with the privilege of “one vote, one listing” – a privilege that must be used wisely. Why? A supernode receives commission over a lifetime for a cryptocurrency or digital asset nominated by them.
A Bgogo exchange review also reveals that this crypto-asset platform serves the crypto space via no less than 34 active markets and various cryptocurrency pairs. It also seems to have its own token that serves as proof of stack (PoS) in terms of the trading infrastructure.
The Bgogo Token (Ticker symbol: BGG) is an ERC20 token with a total supply of 10 billion tokens. A Bgogo exchange review reveals that one of the primary purposes of this utility token is to serve as “trade rewards’ – rewards for active users of this digital asset exchange. This is done through what is called transaction or trade mining – an activity where users “mine” native tokens by placing trades on the relevant exchange. This kind of activity is controversial as it encourages wash trading that is a form of market manipulation.
Bgogo seems to be registered in the Cayman Islands – three islands in the Western Caribbean Sea that collectively forms a British Overseas Territory (BOT). Furthermore, it seems that this crypto-asset platform aims to be a community-driven platform for and by the community.
Bgogo Exchange started and continues its operation with a limited number of tokens ( 10 billion BGG). The first billion was sold in the private sale, with other 40% being unlocked immediately, while the remaining half had been released equally over 5 months.
At the moment, all BGG tokens have been unlocked. But the way in which Bgogo Exchanges operates ingeniously is that they perform daily buy-back and burn by using 100% of the fees they generate through customer trading. The main consequence of this decision is that there is always a constant demand for the token.
The platform also has the discerning feature of supernodes, which are elected on a quarterly basis based on the top 21 holders of BGG tokens. The benefit of such a supernode is that it gives full discretion to list one cryptocurrency candidate during the quarter, whereas 20% of the transaction fees that have been generated are ought to be returned to the supernode.
Currently, Bgogo Exchange has 45 trading pairs between different digital assets with Bitcoin, Ethereum and Tether with maker-fees and taker-fees as low as 0.10%. Additionally, users are being rewarded with a 105% trading fee return every 30 minutes in the form of BGG tokens.
The team behind this exchange aims at providing users with a low-cost trading experience. The current CEO is Maximilian Wang, who is a former software engineer at Facebook, and also one of the former founders of Facebook’s crypto syndicate, while he also helped in developing other blockchain projects in Sillicon Valley. The core team consists of more than 30 members with backgrounds in various profitable firms such as Facebook, Microsoft, Alibaba, Twitter and Boston Consulting Group.
Bgogo Exchange Review, Trading Fees, Deposit and Markets
24h Trading Volume
Bgogo Total Trading Pairs
Bgogo Margin Trading
Bgogo Deposit fees
Bgogo Fiat Deposit
Accepted Payment Method
Bgogo Native token
Native token smart contract
Bgogo Trading Markets
Bgogo Stablecoins trading
Daily Withdrawal Limit
Non-Verified: 1BTC. Verified 10BTC
Bgogo Withdraw fees
BTC – 0.0005 BTC
ETH – 0.01 ETH
LTC – 0.0015 LTC
Full list of fees can be found here
Bgogo Withdraw fees discount
No fee for BGT/ETH transactions.
Proof of Reserves
Bgogo IEO launchpad
|Stage||Start date||End date||Fundraising|
|Apr 2, 2019||-||Apr 3, 2019||N/A|
Facepower Asset Chain
|Apr 17, 2019||-||Apr 17, 2019||$7.6M|
Bgogo Exchange Additional Information
Bgogo Establish date