Bitcoin [BTC], the largest cryptocurrency by market cap and the first of its kind, is often referred to as a revolution. The digital currency’s potential to disrupt the financial industry is recognized by many, and the innovation of Bitcoin has led to the creation of several other coins with a different utility. As the market gradually expanded, the adoption of these cryptocurrencies also grew over time.
One of the major factors contributing to the adoption of Bitcoin and other currencies is noted to be cryptocurrency exchanges, often referred to as the gateway to the crypto-market. The exchanges not only open the market for investors but also play a vital role in the development of the space by providing various services to its users.
To ensure the continued growth of the overall space, an exchange platform must ensure that it tends to all the need of the traders and investors in the space. This could range from providing the best trading tools for top-notch traders and services to creating a user-friendly platform for the beginners. So far, only a handful of exchanges have been able to satisfy their customers, although none of them have managed to perfect all the services available in the market.
XDAT – Exchange of Digital Assets with Trust, a cryptocurrency trading exchange, has entered in this space with an aim to make the ends meet. The platform was created by Prashanth Swaminathan, an Investment Banking Veteran, who worked for Morgan Stanley London for 10 years. The EU-based exchange, launched in 2018, is managed by a team of experts, with most of them formerly associated with leading firms in the financial and technical industry.
With their years of experience, the team has built a secure, easy, and transparent exchange for the people participating in the cryptocurrency space. The platform’s aim is to “redefine the global landscape of cryptocurrency trading by becoming a global trusted brand that sets its policies and procedures in full compliance with the incumbent regulations of its jurisdiction”.
To achieve this, the exchange has complete Know-Your-Customer and Anti-Money Laundering [AML/KYC] policy, which is required to be complied with, by all the users of the platform. The exchange has also applied for an operational license with the local regulatory body in Malta and also works with the legal counsels, with an intention to abide by all the rules and regulation laid down by the country’s officials. This also ensures a relationship built on trust between the customer and the exchange platform, making it more reliable than the other exchanges in the space.
The platform offers trading services for fiat-to-crypto transactions, crypto-to-crypto transactions, and crypto-to-fiat transactions. The platform offers trading services for fiat-crypto-fiat transactions and provides deep discounts on transaction fees and attractive incentives to promote trading. Much to users’ delight, the exchange also has one of the best referral programs and the lowest transaction fees across exchanges in line with their vision on ‘Crypto for All.’
The exchange currently supports 10 of the market’s top liquid cryptocurrencies, including Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC], Ethereum Classic [ETC], Bitcoin Cash, EOS, XRP, Dash, True USD [TUSD], and the Euro. The exchange plans to list more cryptocurrencies and open fiat market for more coins in the future, especially coins that have good liquidity and have the potential to disrupt its respective industry.
What drove you to create XDAT? What was your perspective of the cryptocurrency industry when you first heard of it?
In my decade odd career in investment banking, I witnessed the massive transition from cash to digital currencies. Having become an investment banker with Morgan Stanley, in London, right before the great financial crisis in 2008, I have seen the limitations of centralized banks first-hand and believe that cryptocurrencies have a great future to operate as a parallel economy.
However, along the way, especially in the last few years, I believe that this industry has lost its way, and the focus is almost entirely on price paranoia and institutional adoption, rather than education and adoption within retail society. When you look at crypto exchanges, they primarily cater to crypto enthusiasts who are also invariably tech savvy. This leaves out more than 95% of the global investing population.
XDAT was formulated to deviate from this approach. The goal of XDAT is to make crypto trading as simple as possible for anyone and everyone with specific custom made interfaces for beginners and advanced users to provide a seamless trading experience. On XDAT, one can trade in fiat-crypto-fiat and crypto-crypto in a secure and easy manner.
We are vehemently striding towards bringing our vision, “CRYPTO FOR ALL” to life. We want to emerge as ‘The’ Exchange of Digital Assets with Trust. As many look at cryptocurrencies with an iota of doubt, we want to make sure that our users place their trust in us, for mass adoption.
XDAT claims to be one of the most secure and transparent digital currency trading platforms. How does it set to achieve it?
At XDAT, we follow comprehensive procedures to achieve KYC and AML, especially while adding users to our exchange platform. Users cannot trade without completing their Full KYC. We also strictly adhere to regulatory compliance and GDPR standards. Additionally, we provide our users with robust security and multiple secure layers for protecting our users’ assets, should they choose to leave them with us.
Following incumbent regulations and manifesting trust is quintessential for us, only when we match our investor expectations can we penetrate further into mass adoption and achieve CRYPTO FOR ALL.
How is the platform working towards achieving its vision – Crypto for All – and how does XDAT differentiate itself from other digital asset exchanges?
XDAT acknowledges the broad spectrum of users who visit and trade on our platform. For better user experience, we have custom-made interfaces for beginners and experienced traders. Our collective belief at XDAT is “CRYPTO FOR ALL” and we take significant measures to provide a seamless trading experience for all our users.
For beginners, we are rewarding all our first-time users with KYC Incentives. Further, we are providing multiple features for them:
– Accepting deposits in EUR
– Featuring a simple ‘Buy & Sell’ dashboard
– Facilitating fiat-crypto-fiat trading
– Offering 18 trading pairs and many buy-in options
– Providing 24*7 customer support
Apart from the above, we have introduced some pro-level features that are unique to XDAT, which are not available even in the most established cryptocurrency exchanges. For accurate trade placement in our order section, the platform provides options, such as Stop-Loss, Trailing Stop-Loss, Fill or Kill, Immediate or Cancel, and Reserve Order.
In this bear market, XDAT aims to build a global crypto community through our initiative “Bullwhip Movement” for mass adoption.
Could you elaborate on the Bullwhip Movement?
The intent behind the Bullwhip Movement is to create a new wave of adoption of cryptocurrencies amongst users. We want to create a positive ripple of adoption that leads to an amplified nature of adoption and trading. We envision to initiate this ripple effect as our primary step to fulfill “CRYPTO FOR ALL.”
To manifest this belief, we are investing over €1,000,000 (1 Million Euros) to create the world’s largest crypto inclusive ecosystem. Through this initiative, we are incentivizing our traders up to €2000, for we believe that only when they grow, do we grow.
Bullwhip Movement: Phase 1, is our first step to facilitate crypto for the masses. At, XDAT we are working many more revolutionary products that may simplify crypto trading.
Who is your target audience for the Bullwhip Movement? What are the benefits of becoming a Node in the Bullwhip Movement?
Our target audience will primarily include early adopters of crypto, crypto traders, crypto enthusiasts, experienced traders. Predominantly, anyone who wants to earn while trading in cryptos, even if they are individuals who want to trade in cryptos for the very first time.
The Bullwhip Movement encourages individuals to become ‘Nodes.’ Our Nodes will be our endorsers, who will propagate the movement by adding new users through their referral link. Nodes shall enable trade activities on our exchange. In return, for their participation, they shall receive a Community Token (XCTY) when they achieve €1000 cumulative trading from their referred users. Apart from that, they can also earn incentives worth €2000 when they reach trading volumes and massive KYC & Transaction Incentives.
Apart from the Bullwhip Movement, are you offering some incentives for regular users on XDAT platform?
At the moment, crypto needs as many ambassadors to support crypto adoption, and we believe that the Bullwhip Movement will be a channel to encourage crypto trading in this bear market. But, if our users choose not to be part of this initiative, we are still rewarding our users with KYC incentives, referral incentives, and the lowest transaction fees across exchanges.
What do you think are the important steps that are required to get XDAT to the list of top exchanges in the space?
Crypto space is still very nascent and we believe that the landscape will keep changing over time. We believe that the following factors will be essential in determining the top exchanges over time – bringing in more fiat capital, generating trust amongst the masses, and providing easier access to crypto.
XDAT aims to become the largest global exchange by the end of 2020. We’ll grow organically and inorganically towards this while focusing on being fully compliant with incumbent regulations. We also aim at operating across the globe, expanding to various geographies to foster widespread adoption of crypto. Bold words, but we see ourselves on par with other renowned crypto exchanges.
The Bullwhip Movement is our first step towards revolutionary leaps in the crypto sector. We are simultaneously working on diverse products that will revolutionize the way users transact in cryptocurrencies.
Bibox Exchange: Four projects to be launched in first phase of Bibox Orbit!
The cryptocurrency ecosystem is exceptionally volatile and the market is highly speculative with regards to price hikes and predictions. The winter of 2018 witnessed a period of extreme bearish outbreak when the total market capitalization of the global virtual currencies fell to $112.1 billion. In comparison, the market was worth $760 billion in early 2018.
Considering this, the importance of cryptocurrency exchanges has been widely recognized and is one of the fundamental aspects of the global assets industry.
Bibox, a crypto-exchange registered in Estonia is one of the largest crypto-exchanges in the world. Bibox exchange is well-known for its user-friendly interface and stands out amongst its competition for its extreme reliability and efficient functionality.
The exchange recently made a major announcement and stated that the crypto-platform would be launching its Initial Exchange Offering [IEO] platform, known as “Bibox Orbit” at 10 am on April 22nd,2019 [GMT+8]. According to the official statement, the key objective of the exchange is to promote and launch the development of high-quality decentralized projects on its platform.
Bibox Orbit is basically a token launch platform which was created with the sole intention of developing quality decentralized projects. As a leading global assets trading platform, Bibox Orbit will be completely focused on boosting premium decentralized projects so that they are able to raise capital and remain sustainable for long-term development.
Introducing the First Phase of Bibox Orbit and 4-Quality Projects:
Bibox announced that the first phase of Bibox Orbit would be officially launched on 22nd April 2019 [GMT+8] and they also mentioned the inclusion of four quality projects for the users to purchase into development after its launch.
The projects are mentioned below:
The Force Protocol [FOR]
The Force Protocol is an open-source blockchain platform that provides crypto-financial solutions to developers with an aim to improve the virtual assets market. It is based on the mainstream public chain system and the under-layer standard data network of protocols. The project would offer solutions for financial needs such as cross-platform assets transactions, shared trading volumes, cross-chain communications, multiple blockchain crypto-assets collaterals backed stable coin issuing, token bonds issuing, on-chain payment, settlement, and clearing of transactions, among others.
Ludos, a Singapore-based distributed gaming ecosystem solution, aims to turn blockchain games into reality and release a decentralized gaming sphere and incentivize the platform. Gamers would be able to manage and trade their gaming assets on one hand, while on the other hand, they would also be able to manage game crowdfunding. The core team members of the project are from Columbia University, Carnegie Mellon University, Peking University and other institutions of higher learning.
Staking is a decentralized asset management entity which aims to create a transparent decentralized management platform that is efficient, secure and allows investors to safely stake their capital. The platform provides an ecosystem of a Proof-of-Stake [PoS] mining pool and a detailed infrastructure for the Decentralized Finance [DeFi] market.
Additionally, the platform owns one of the most secure databases in the world as system infrastructure. The core team is composed of experts from Tsinghua University, Columbia University, University of Toronto, and other world-renowned universities.
X-Block, a computing framework is the world’s first blockchain based entity for fog computing. In comparison to other traditional cloud computing platforms, users would be able to access more services at a minimal cost with the X-Block Fog computing services.
The members of X-Block cover digital asset investment, network security operation and maintenance, distributed computing, financial consulting, fund management and many other fields. X-block was promoted by DFG, a well-known Silicon Valley investment institution, and had received a strategic investment from Kosmos Capital, a top Australian investor institution.
Why is Bibox Orbit Launching Four Projects together?
Aries Wang, the Co-Founder of Bibox Exchange, explained the motivation behind launching four projects at the same time. According to Aries:
“People are curious why we have chosen to launch four projects simultaneously. Firstly, It’s not a simple decision, these four projects were picked out from hundreds of applicants. They are diversified but outstanding. Apart from their understandable token economy and innovation in blockchain technology, our listing team is also impressed by their professional experience in varied industries and their backed capitals.”
He also mentioned that the launch of four qualified projects together would increase the user’s opportunity to win the lottery, also it would give investors multiple alternatives to choose their preferred area. The launch of multiple projects on Bibox Orbit proves the exchange’s mission “Quality & Diversity”.
How to Participate?
After a collective consensus between all the parties involved, it was decided that the first phase of Bibox Orbit would determine the personal pre-purchase amount of BIX holders via a random draw. This implied that participants involved would experience maximum fairness and equity and it would allow more users to participate in the projects they like.
- Pre-Purchase Start Time
The first phase of Bibox orbit is going to have four projects available for the participants to purchase at the same time.
The timing of the purchases are:
- Pre-Purchase Start Time：April 22 10:00 GMT+8
- Pre-Purchase Stop Time：April22 17:00 GMT+8
- Drawing Time：April 22 20:00 GMT+8
- How to purchase?
On the Bibox exchange, BIX in the only token validated to be used for pre-purchase investment and payment in the projects. There is no minimum limit for the BIX holding amount, but the maximum amount that can be stored should not cross the threshold of the BIX equivalent of $5,000.
1. participants of Bibox Orbit must complete KYC real-name authentication first.
2. Sub-accounts are not allowed for Bibox Orbit.
3. Users in areas prohibited by law are not allowed to participate in the event.
4. During the pre-purchase period, Bibox shall have the right to disqualify the applicant if it finds any cheating behavior such as false authentication information or repeated KYC.
5. Bib has the right of the final interpretation of the rules.
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