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Speaking of the BXMI token, its ERC-20 standard paves the way for future integration into decentralized protocols, platforms, exchanges, and DeFi, among other things.
Cryptocurrency exchanges are often seen as trading platforms with little extra utility. However, that narrative has come to change in recent years with the introduction of staking support, DeFi opportunities, and much more. As the industry keeps attracting more attention, platforms like BitXmi – and its BXMI token – stand to grow significantly over the coming years.
BitXMi Offers a Solid Trading Foundation
Like other centralized exchanges, BitXmi provides a versatile trading platform that spans numerous aspects of acquiring cryptocurrencies or gaining exposure to them. Whether one prefers traditional spot and margin trading, contract trading, or exploring OTC opportunities – up to $100,000 – it is all accessible. All that is required is completing a short and straightforward Know-Your-Customer process, which anyone can complete rather quickly.
Enhancing the overall BitXmi experience is the native support for account funding through traditional and convenient payment methods. Adding fiat currency to one’s account is straightforward and is possible via credit cards. A crucial step to getting more mainstream users in the door of the cryptocurrency world.
To make BitXmi seem as appealing to novice users as possible, the team provides education on cryptocurrency, projects, and their technology. There is still tremendous misinformation and a lack of information to understand most projects in this space. Making that information accessible in a bite-sized format separates this platform from most other exchanges in the space today
Technical Specs & Regulation
Under the hood, there are fast transactions, low transfer fees, and high-grade risk management solutions. All of these features provide a seamless user experience for both novice and advanced traders. Furthermore, BitXmi is regulated by the Monetary Authority of Singapore, requiring the company to adhere to strict standards. Verified users can withdraw the equivalent of up to 99 BTC per day and benefit from 24/7 customer service.
While there are many regulated exchanges worldwide, companies achieving this status tend to gain a competitive advantage in the industry. Therefore, BitXmi purposefully opts for a regulatory-oriented approach to comply with current guidelines and provide users with peace of mind. Additionally, the regulated nature combined with the platform’s various trading tools makes for a compelling package.
What Is the BXMI Token About?
Like other centralized trading platforms, BitXmi has a native token. It uses the ERC-20 token standard on the Ethereum blockchain, with a circulating supply of 70 million $BXMI. The token was launched in Q3 2021 and provides a trading fee discount and revenue sharing opportunity to all holders. Moreover, that revenue-sharing split also applies to any future projects under the BitXmi banner.
You can find the BitXmi token on popular data aggregator platforms like CoinMarketCap and on Coinbase, one of the biggest crypto trading platforms in the world today. Moreover, users can find it through CoinTiger and DEXTools for trading purposes. The team plans to bring $BXMI to decentralized exchanges in the coming months. More information on that progress will be announced via BitXmi’s social channels.
While the passive benefits of BXMI are intriguing, the currency has real-world utility too. More specifically, $BXMI is integrated into both CoinPayments and Crytpowerk as a payment method, making it easier to buy goods and services with the currency. As a result, millions of businesses have the opportunity to integrate support for this token, paving the way for broad usability.
The Future of BitXmi and BXMI
The current foundation for BitXmi and its BXMI token appears rather solid. However, there is no time to stand still in the cryptocurrency industry, as there are new opportunities to explore every week. The BitXmi team is ambitious and aims to make a lasting impression on the industry. Exploring new opportunities and pushing the boundaries of innovation is essential when competing with established household names like Binance, Coinbase, and others.
One upside to the BitXmi exchange is how its regulatory compliant nature allows for unlimited expansion and exploration. As a result, the team can bring many new ideas to the platform and its growing ecosystem. For example, one of the next ventures for BitXmi is to explore the world of NFTs by building a native non-fungible token marketplace.
However, that NFT marketplace is not just a different version of OpenSea or Rarible. It is the first NFT trading platform supporting gold and diamonds to be tokenized on the blockchain. That will only be possible if the user can provide a certificate of authenticity and ownership. However, minters can price these assets in USD or BXMI value, adding more utility to the native ecosystem token.
Speaking of the BXMI token, its ERC-20 standard paves the way for future integration into decentralized protocols, platforms, exchanges, and DeFi, among other things. There has already been one successful experiment with a liquidity pool – through a partnership with CoinTiger – that provided up to 30% APR. Similar opportunities may be on the horizon.
Competing with industry giants is an uphill battle but worth undertaking. Platforms like BitXmi prioritize regulatory compliance and an optional trading experience, establishing a solid foundation to build a broader ecosystem. Moreover, its seamless KYC onboarding is a step up from what various other trading platforms provide today. Native support for traditional payment methods, such as credit cards, creates a broader appeal for novice and advanced users. Furthermore, the venture in NFTs and supporting gold and diamond tokenization will trigger some excitement.
For the BXMI token, there is still much room for future progress. Users will benefit from reduced trading fees and passive revenue sharing by default, but more can be done with it. Nevertheless, the passive revenue from future projects under the BitXmi banner is appealing, and the potential DeFi opportunities are exciting. It will be interesting to see which providers integrate BXMI into the protocol.