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.
BitMax Exchange Review, Trading Fees, Deposit and Markets
24h Trading Volume
BitMax Total Trading Pairs
BitMax Margin Trading
BitMax Deposit fees
BitMax Fiat Deposit
Accepted Payment Method
BitMax Native token
Native token smart contract
BitMax Trading Markets
BitMax Stablecoins trading
Daily Withdrawal Limit
BitMax Withdraw fees
BTC – 0.0005 BTC
ETH – 0.0025 ETH
LTC – 0.001 LTC
Full list here
BitMax Withdraw fees discount
Proof of Reserves
BitMax Exchange Rating Analysis
Last edit 25.07.2019
Bitmax is a Singapore based cryptocurrency exchange with good fee structure, a well-built website and prompt customer support, as well as a good number of supported markets. The team is public, with a moderately experienced CEO and other team members easily located online. The exchange has not insured crypto, however, so capital is at risk.
BitMax IEO launchpad
|Stage||Start date||End date||Fundraising|
|Mar 11, 2019||-||Mar 11, 2019||N/A|
|Apr 27, 2019||-||Apr 27, 2019||$5.1M|
|Apr 28, 2019||-||Apr 29, 2019||$20M|
|Jun 26, 2019||-||Jun 30, 2019||$500K|
BitMax Exchange Additional Information
BitMax Establish date