Cryptocurrency exchange is on the rise. The number of exchange is increasing every day. The number of exchange platform is also growing as well. Unfortunately, there are many problems in the existing cryptocurrency exchange. To make things worse, most of the existing exchange platforms do not address those problems, something that BitcoinBing will do.

What Is It?

It is a cryptocurrency exchange platform. This platform utilizes the Blockchain technology, which makes the platform secure and allows the users absolute control in handling their trades. Users have the freedom in how to set their exchange format, its process, and procedure. By giving control to users, the platform empowers traders and the whole cryptocurrency exchange market.

Current Problems in Cryptocurrency Exchange

Cryptocurrency exchange has various problems that hinder its progress. The biggest problem is the lack of necessary infrastructure. Most of the existing exchanges today are made in a rush with the purpose of making as many profits as possible, as soon as possible. Consequently, the necessary infrastructure has not been prepared properly yet.

Another major problem is security. Currently, the security of most exchange platforms is inferior. In fact, lots of exchanges today happen without the proper security structure. Many of these exchanges had become of hacking and other black hat practices, which results in the compromise of users’ information and the shutdown of those platforms.

Irrational parameters are also a problem in the existing exchanges. In many cases, the transaction conditions and exchange rates imposed by the exchange platforms are unfair. These parameters have no grounds and will take inordinate amounts of users’ money. Unfortunately, there are many exchange platforms which do this to their users.

Customer service is often overlooked as well. Most of the existing platforms have no proper structure to deal with troubleshooting or customer complaints. This results in anger and frustration on the users’ side. In the cryptocurrency exchange market, a customer complaint is almost always mean monetary loss, which will affect the whole market negatively.

Solutions

BitcoinBing addresses the problems in cryptocurrency exchange in several ways. The team realizes that if the platform is to succeed, these problems must be overcome. This is why the team took some time to develop and prepare the platform. The following is how the platform addresses the problems in cryptocurrency exchange.

First, the infrastructure. Without sufficient infrastructure, the user experience will deteriorate as the number of users increases. To overcome this problem, the team builds a platform that is able to maintain a uniform standard for its users and able to withstand fluctuations and heavy transaction loads. This results in a slow development at first but becomes an operational advantage later on.

In terms of security, BitcoinBing ensures that all of its building and design is audited thoroughly and thus, not allowing structural weaknesses and design flaws to be exploited by hacking and other black hat practices. The team ensures that the users’ identity and/or any other users’ information will not get compromised.

Within the platform, there are no irrational parameters imposed on the users. Instead, the platform gives absolute control to the users and tries to not interfere as much as possible. The platform enables users to connect with one another on a peer-to-peer basis, allowing each and every transaction details to be set by the users.

The platform prioritizes the users every time. In addition to providing a peer-to-peer based exchange and secure platform, BitcoinBing also provides a complaint and conflict resolution framework and a dedicated team for customer service to ensure that the users get the best trading experience. The team realizes that without a proper customer service, the platform will not succeed.

Token

BitcoinBing will issue tokens known as Bing. The tokens can be used to purchase services available in the platform. Also, if user trades using the Bing tokens, there will be no trading fee included. There will be 1 billion Bing tokens issued with 150 million will be for sale. The token price is USD 0.50 per Bing token.

Funds Allocation

Funds collected from the ICO will be allocated to ensure a sustainable growth of the platform. It will be allocated as follows: 50% of the total funds will be allocated for marketing, 20% will be for administration, 10% will be for development, 10% will be for legal and compliance, and 10% will be for partnership and bonus.

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BTT USERNAME : JahriMeayer
BTT PROFILE URL : https://bitcointalk.org/index.php?action=profile;u=1002521