BITCOINBING: AN EXCHANGE WITH OUTSTANDING FEATURES

Cryptocurrency Exchange which is also known as “exchanges” are institutions which give users the opportunity to be able to exchange digital currencies for other digital currencies and fiat currencies. Also, cryptocurrency exchange serves as intermediaries between who buy and sell cryptocurrencies by connecting demand with supply which allows buyers to be able to make the purchases they want and desire by using cryptos or fiats of their choice, depending on the ones that are supported by the individual exchange. In today world of acquiring or trading cryptocurrencies, exchanges make it easy for people in every part of the world to be able to exchange fiat for cryptocurrencies, cryptocurrencies to fiat and also cryptocurrencies for other cryptocurrencies. This makes exchanges the engines of the industry, just as the traditional banks today drives all the offline economies of the world. In the exchange market of today, there is a need for speed and strong security. And also the delay of some existing exchanges take few minutes and this can make investors and traders lose huge fund as big hitters like the Bitcoin and Ethereum have been known to lose as much as 50% of their value in just a few hours. So this makes it necessary to have a secure and transparent exchange which will also be fast when it comes to deposit and withdrawal. This is why BitcoinBing design and develop a platform that incorporates new mechanisms and technology which makes the exchange to have a whole lot of key features that are different from all other existing exchanges.

WATCH VIDEO ABOUT BITCOINBING HERE: https://youtu.be/ZZ_oeyRsLPQ

Smart Contract: The process of using the blockchain as a tool for escrow and validation which exchange value between two or more parties. This makes it very easy for users in every part of the world to read instructions that guide online transactions and exchanges value. The blockchain is used as a validator and escrow solution for smart contracts which cut off the need for middlemen and exponentially increases the fidelity of all transactions. By making use of smart contract, a trade can be carried out by the seller and buyer without the need to have a middleman which will intercede between them to ensure that things work smoothly between the seller and the buyer and that right exchange is made at the right time. Also, there are a set of instructions, conditions, and parameters that the sellers and buyers need to follow and are coded into the blockchain. The buyers and sellers also have to deposit their cryptocurrency into the safe wallet which is under the care of the smart contract protocol. Whenever the buyer confirms that they have received their requested value from the seller that they strike a deal with and that it is acceptable to them, then the smart contract will automatically release the payment to the seller.

EXISTING PROBLEMS AND SOLUTIONS

Bitcoinbing is designed so that it will solve the current problems with existing exchanges. It is obvious that exchanges today have a whole lot of problems which need to be addressed. BitcoinBing team understand all the problems and have provided solution all of them.

Insufficient Infrastructure

Some of the already existing exchanges are put together very fast just to make the profit from customers and they lack some infrastructures. This has caused a whole lot of shortcomings in their structure of operations especially security. Bitcoinbing is a platform that did not rush but took a long time for development, because the platform has a clear goal of ensuring that its user from every part of the world will experience a more secure exchange that does not deteriorate as user volumes rise on the platform. Bitcoinbing team has used their years of experience in cryptocurrency and design, because of this joint effort the team was able to design and build a platform which maintains a uniform standard for user experience, and also with the capacity to withstand heavy transaction loads and immense fluctuations. Actually, we have face a lot of issues in the initial phase of development and this makes it slower, but this is one of the reasons that gives Bitcoinbing the crucial operational edge in practice.

Inferior Security

Some exchanges often developed without a proper security structure which makes users' information to get compromise at many levels. Also, many exchanges have fall victims of hacking attempts or other black hat practices, which on the long run make them fold up. With Bitcoinbing, all building and design are carefully audited just to make sure that design flaws and structural weaknesses will not creep in. Also, we have made sure that all our users’ identity or any other data doesn't get compromised at all.

Irrational Parameters

Many exchange transactions fee and transaction conditions which are imposed on users by the exchanges are unfair. Some of this exchanges only care of how much money that they can make from their users and not of how they can make life easier for them. The Bitcoinbing platform doesn’t interfere in any way with trading parameters and stays away as much as possible, instead, it gives users a platform to connect with one another on a peer-to-peer basis, where they can easily agree on all transaction details including buying and selling price, transaction duration, and payment mediums. The platform makes use of Ethereum contract to wrap up user freedom in a layer of trustless security that ensures that users from every part of the world will not have any bad experience.

Rigid Market

Conditions Unlike conventional exchanges which often have shallow order books, resulting in significantly expensive trading slippage due to delays, Bitcoinbing will not pose a slippage risk to its users because their desired currencies will be sourced exclusively from other users, so whenever there is a willing seller, then the buyer who is willing to buy only have to contact that seller and negotiate before a smart contract is agreed on to seal the transaction. Which also means that the Bitcoinbing platform will not pose an exposure risk to itself by storing large amounts of cryptocurrency in an attempt to avoid slippage.

Poor Customer Service

Most of the already existing exchanges have no standard structure or protocol available to deal with customer troubleshooting or complaints. This always leaves customers frustrated and angry because, in exchanges, a complaint almost certainly involves monetary loss. Bitcoinbing's mechanism will put in mind the end user every time, in addition to creating a secure, trust-based framework for users from around the world to connect and trade coins with one another, there is a robust conflict and complaint resolution framework and a dedicated customer service team in place 24/7 to make sure that users get full value for their trading experience every time.

Want of Globalization

Some exchanges are built with just one country, zone or territory in mind. They have overlooked the fact that the blockchain is not restricted to any geographical or linguistic boundaries. The Bitcoinbing is going to support multiple languages because it considers the large number of traders which are existing in the farthest corners of the world, who are more use to their own native language than English. The goal is to develop a system that seamlessly supports users from every part of the world.

Unreasonable Transaction Fee

Fee for transactions is compulsory on many exchanges. This is the only source of income for many of them and this makes them put their charges on the high side. Bitcoinbing will not charge ICO investors for transaction fee whenever they use the platform and there is a healthy range of alternative revenue streams that enables the platform to charge reasonable transaction fees for other users.

Learn more about Bitcoinbing here https://www.bitcoinbing.io/

TOKEN INFORMATION

Token: BING

Platform: Ethereum

Type: ERC20

Pre ICO price 1 BING = 0.50 USD

Price in ICO 1 BING = 0.50 USD

Tokens for sale 150,000,000

Min. investment 0.2 ETH

Accepting ETH, BTC

Distributed in ICO 15%

Soft cap 4,000,000 USD

Hard cap 40,000,000 USD

                                                    TEAM

The team consist of people that understand business, marketing, branding and blockchain technology.

                                              CONCLUSION

This a unique project that has a whole lot of new features because the project makes use of new mechanisms and technologies to solve all existing exchange/trading problems. These projects need the support of people from every part of the world.

FOR MORE INFORMATION ON BITCOINBING, KINDLY VISIT THIS LINKS.

Website: https://www.bitcoinbing.io

Whitepaper: https://www.bitcoinbing.io/bitcoin%20bing.pdf

Bitcoinbing ICO: https://www.bitcoinbing.io/register.php

ANN thread: https://bitcointalk.org/index.php?topic=5037403.0

Telegram: https://t.me/bitcoinbing

Twitter: https://twitter.com/BingBitcoin

Facebook: https://www.facebook.com/Bitcoinbing-228650464472887

Linkedin: https://www.linkedin.com/company/bitcoinbing

Writer: Dammy

Bitcointalk Username: dammy1988

Bitcointalk Profile link: https://bitcointalk.org/index.php?action=profile;u=1340111;sa=summary

#ethereum #exchange #blockchain #technology