BitMax Exchange Review

BitMax is a digital asset exchange / crypto exchange that serves the crypto space via no less than 62 active markets. A BitMax exchange review also reveals that they offer access to various cryptocurrency pairs. A blockchain-driven user-based value exchange system that enables improved efficiency, when it comes to organizational cooperation, seems to be at the heart of BitMax’s vision.

The website of this cryptocurrency exchange is available in more than one language, including English. A BitMax exchange review also reveals that beyond spot trading, they started to offer margin trading. The latter is an instrument of financial derivatives that can be used to leverage tradable assets to potentially increase profits. They also seem to offer OTC trading and what is called transaction fee mining – mining that is based on the controversial “Transaction Mining” model.

A BitMax exchange review also reveals that they have their own native utility token, namely BitMax Token (Ticker symbol: BTMX). It seems to be the primary unit of exchange at this digital asset trading platform. It has a total supply of 10 billion tokens. BTMX tokens can be obtained via transaction fee mining (as mentioned above) or through direct trading at BitMax via two currency pairs, namely BTMX/USDT and BTMX/BTC.

BitMax also offers a financial product that is based on cryptocurrencies or digital assets called, BitTreasure. In essence, it seems to be a form of digital asset lending that offers stable returns via a variety of token investment options, including more than one investment term (30 days, 60 days, 180 days).

The CEO and founder of BitMax envisions the exchange as the “next third-generation digital asset trading platform” and in fact over the past year the exchange has seen a rapid growth in trade volume with an estimated adjusted volume of $208m every 24 hours. The exchange offers access to 137 trading pairs and 57 coins and a CER report reveals that in the first six months of operation there were over 160,000 unique visitors in the BitMax website. BitMax has become appealing also due to its trading fee of 0.04% per trade which is well below the industry average. Nonetheless, reviews of the exchange reveal that there is a big discrepancy between the reported and the adjusted trade volume of BitMax with amounts actually deposited of USDC being flipped many times.

Concerning its security, BitMax uses a 3-level KYC system and employees monitor trading patterns with artificial intelligence algorithms. BitMax has Strict-Transport-Security and X-Content-Type-Options to strengthen security, however an exchange review reveals that it has certain security issues such as low password requirements and an absence of bug bounty programs, which could help strengthen its cybersecurity.
BitMax also offers another feature called the Turtle Card and the Bunny Card, which allows users to make money if they correctly predict the volatility of a certain currency during a specific time period.