Are you looking for a new exchange to use when you need to trade your cryptocurrency? Today our blog is going to review Bitpaction, a new cryptocurrency exchange we spotted online.
What Is Bitpaction?
Bitpaction describes itself as “the world’s leading digital assets exchange”, an affirmation that does not really look very credible when you see that the company was founded in 2018. Basically, this company will be a cryptocurrency exchange with its token which will allow you to have a certain discount when using the company’s services.
The two heads of the company are only described as “Sonny” and “Allen”. Sonny, which is the CEO of the company, has a degree of economy in the Liverpool University and experience in eCommerce. Allen, the CTO, has experience being a senior Java architect and development manager, he’s also an expert in blockchain technology. Unfortunately, both the entrepreneurs look very young and somewhat inexperienced, which is never a good sign at all.
How Does Bitpaction Digital Asset Trading Exchange Work?
Bitpaction will be a cryptocurrency exchange which will work in a very similar manner to the other ones that you know already. The company has a demo on its site if you want to know how it works. The site will have more than 3 thousand different cryptocurrencies and will aim to become a giant global market.
The company uses the relational database service (RDS) to ensure that there are multiple protective measures for the real time exchanges be monitored and archived. The company is very worried about safety, so it has numerous protocols that the company constantly makes be as secure as possible.
The platform will have a simple interface for people who do not know the cryptocurrency market very well and it will have signs and alarms which will trigger when cryptocurrencies that you currently own lose their market value. You can also set an auto-sell to help at these times.
The tokens of the company can ensure permanent discounts on the fees charged by the company when the user trades and the holders of Bitpaction tokens will receive annually 30% of the dividends of the company, which will be divided among them
How To Invest In Bitpaction BPS ICO?
If you are interested in Bitpaction, you can always invest in this company during the Initial Coin Offering (ICO). 90 million tokens are destined for the ICO from a total of 300 million tokens. They are ERC20 Ethereum-based tokens and you can pay for them using both BTC and ETH.
You can buy the tokens right now and the sale will last for about a month. The price per token will change depending on the quantity of tokens that you buy. If you buy until 3,000 BPS tokens, you will not receive any discount, but if buy more tokens, the price can change from $0.23 USD to $0.20 USD per token.
You will also be able to receive 100 BPS tokens if you register on the platform.
Is this company a great investment? Not really. Is it a good one? Maybe, but we would not bet on it because if you actually look to Bitpaction, you will notice that the company basically does not have many interesting features that really make it more original than any other type of cryptocurrency exchange that you might find on the internet.
Since the cryptocurrency market is full of companies like this one, it is probable that it will not become a great company that will distinguish itself, so there are less that it will be a really good investment for you. Mind you, this does not mean that this is a bad company but merely that it really lacks originality, which can be very bad for a company that has to survive in such a crowded market like this one.
Take your time to think very well and decide if Bitpaction is the type of company in which you should invest or not. There are surely many other companies which can be good choices but it is hard to decide in which to invest since many of them are very alike and not so original at all. Because of this, you can always browse our blog if you want to find more interesting investments.