Bistox Cryptocurrency Exchange (BSX Token): NEM Powered Trading Platform?
Bistox is a new cryptocurrency exchange that claims to be one of the most advanced and safe exchanges in the market at the moment. It is powered by the NEM technology and is having an Initial Coin Offering (ICO) soon. To know more about it, read our review.
What Is Bistox?
This is a semi-decentralized crypto exchange that is aimed at traders which are in very different levels of their careers. Bistox has an engine that beginners can use without having any kind of trouble to understand trading and that veterans can explore to get more advantages when they need to trade.
Some of the key features of the company are how it offers pre-trade notifications and post-trade education by using a deep learning artificial neural network intelligence. Basically, this exchange will give you signals so you can know when you have to trade and you will be able to use it later to test your strategies using your historical data.
You can completely control your risk management by using this platform and can target news that interest you so can predict the market better, use a day to day learning algorithm and even come up with your own strategies based on the behavior of other traders that you can find on the internet.
Bistox BSX Token Sale
The company is currently selling its BSX tokens. 55% of them will be sold in the sale, while 5% will be bounties, 10% will be for advisors, 20% will go for the team and 10% will be in the reserve fund. The soft cap of the sale will be 5 million USD with a hard cap of 25 million USD.
30% of the money will be used in research and development, 25% in marketing, 15% in administration and support, 15% as a reserve fund and 5% in legal expenses.
The BSX tokens will represent user assets in the NEM blockchain and you will be able to use BSX to pay for listing fees, trading on the platform, withdrawing your profits or as margin trading fees.
The company is currently having its private sale, which will be finished in August. Only accredited investors, strategic partners and investment funds can participate in this phase, which has a maximum cap of 5 million USD and a minimum cap of $100,000 USD per investor and a 30% bonus on price.
Bistox’s pre-sale will have a 15% bonus and this phase will start on September 9. You will have to be whitelisted via a Know Your Customer process to be able to invest in this phase and you will have a 15% bonus when buying the tokens. You have to acquire at least 5 ETH in tokens and a maximum of 25 ETH. This phase will end on October 5 and will also have a hard cap of $5 million USD.
Finally, there is the public sale of BSX tokens, which will have the hard cap of $15 million USD and a minimum cap of 0.1 ETH per person but no discounts when you buy the tokens. This last phase will start on October 10 and it will go until November 9. You will also have to pass a KYC whitelisting to invest.
The testnet launch of the exchange will be on October 10, as the public sale is launched, and the Alpha launch will be on October 30. Finally, there will be airdrops in November 14 and tokens will be audited. The Beta launch will be in November 29.
The Bistox Verdict
This does not look like a great investment. While the project promises a lot, it does not look really serious about it. You just need to see how the site was full of incomplete sections and that bugs and no information about a lot of important aspects to know that is simply a bad idea to invest your money in Bistox.
Also, it does not even state who are the people that are working on the company, which is often a huge red flag. You should look for a platform that is stable and promising instead, so avoid this one.