Bibox Token (BIX) Review: In-depth Analysis of BIX

Bibox Token (BIX) Review: In-depth Analysis of BIX Bibox (BIX) reminds us of the famous Binance exchange when they first started out. For those unfamiliar with Bibox, it’s an increasingly popular crypto exchange platform that has adopted many of the qualities of Binance. Bibox has a native token similar to Binance which will be the primary focus of this review. The native token on the Bibox exchange is named BIX and has some unique incentives for its token holders that may be appealing to crypto investors. In our article, we will be reviewing the key benefits of the BIX token and why some might consider it to be an appealing cryptocurrency investment. Trading cryptocurrencies is a high-risk activity, and we should caution investors to perform due diligence on all of their crypto related investments. This review is merely an opinion and should not be taken or construed as investment advice in regards to the Bibox token. Furthermore, we will be covering crucial areas that we feel to be important before considering investing in any cryptocurrency. Some of the areas we will be focusing on include: Introduction- What is the Bibox token?  Team- Who is behind the Bibox token?  Marketing- Can the exchange market the token efficiently? Current state- We will discuss it’s most recent developments Competitors, Other Risks- We will Discuss it’s competitors and the risks associated with the Bibox token. Investment Analysis- We will discuss what we believe may happen in regards to the future of the Bibox token and how it might perform. Bibox (BIX) Crypto Review: Introduction Bibox is a cryptocurrency trading exchange platform similar to other crypto exchanges such as Binance. According to CoinGecko an analytics website that tracks the trading volume of the top crypto exchanges the current volume of Bibox as of March 19th/18 amounted to USD 71,694,385.71.This would make Bibox the 26th most popular crypto exchange by trading volume. Bibox was created by Chinese crypto enthusiasts some of which include team members from two of Chinas largest Bitcoin exchange platforms. The co-founder of Okcoin and many of the founding team members of the Huobi exchange are part of the Bibox team. BIX is an ERC-20 token that runs on the Ethereum blockchain. Like similar Exchange based tokens BIX has some unique benefits that could make it an appealing token to hold. Some of the key features of the BIX token include the following:  By holding the token investors will receive 20% of the Bibox exchanges net profit. For example to illustrate how this might be calculated Bibox’s official website stated “The net profit of this week is 100BTC in Bibox.com, if you hold 130000BIX, you will receive (130000/130000000) *20 %* 100BTC = 0.02BTC per week. If the trading amount and operating costs of the platform stay the same, you will get 1.04 BTC a year.” However, there is a stipulation that Bibox token holders must trade at least once per week on the Bibox platform to receive the 20% net profit.  Trading fee discounts similar to the BNB token on Binance. The BIX token has a structured plan for the following five years. 1st year: Traders receive 50% discount on fees. 2nd year: Traders receive 25% discount on fees. 3rd year: Traders will receive 12.%% discount on fees. 4th year: Traders will receive 6.25% discount on fees. 5th year and onwards: Traders receive 0% discounts on trader fees. Upgraded VIP level: Bibox token holders will be able to use their BIX token to upgrade their current VIP level. The BIX token whitepaper stated that “The calculation of asset for VIP upgrading will be 1.5x for Bix Token users.” The token will act as fuel for decentralized transactions according to the BIX whitepaper. Token Buyback and Burn plan. The White paper mentioned “Bibox promises to use 25% of seasonal net profit buyback BIX Token. Once the BIX token we bought back (up to 300 million in total), it will be destroyed right away.” However, the wording from the Bibox whitepaper of a seasonal buyback is a bit ambiguous we believe it’s better to use more precise terms such as annual or quarterly buybacks.  Extra privileges for new applications: From what we interpreted according to their whitepaper BIX users will pay no fees when using new features of the Bibox platform. The token is non-mineable, and there were 500 million tokens created. The token allocation structure is the following:  55% or 275 million tokens for the ICO. 35% or 175 million tokens went to the initial team. 10% or 50 million tokens allocated to Angel investors. As of March 20th/18, according to the crypto statistics website Coinmarketcap the BIX tokens current market cap is valued at USD 72,315,382 and has a trading volume of USD 5,388,290. Bibox (BIX) Token Review: The Bibox Team According to a report analyzing the Bibox ICO that was conducted by Mergermarket Bibox has two significant business operations. The first business is an exchange to convert cryptocurrencies into legal currencies this was incorporated in Japan. While it’s second business is an exchange for trading cryptocurrencies this was incorporated in Estonia. Here are some of the details that we found about the current Bibox team. Unfortunately, many of its team members do not have linked in pages or very little information about them : Team: CEO: Jason He Co-founder & Overseas President: Wanlin Wang Vice President, Marketing: Alicia Pan Business Development Manager: Estella LIU Head of North American Region: Jian Qin Bibox (BIX) Cryptocurrency Review: Marketing Strategy Marketing for any exchange platform is crucial for its success. We believe that Bibox excels at marketing being a new exchange that’s less than a year old and growing as quickly as they have is not a matter of luck. The Bibox token and exchange have a co-dependent relationship for the BIX token to grow in value the Bibox exchange must perform well or even better then it’s competitors. Some of the marketing strategies that Bibox seems to be implementing that have attracted new users are as follows: Popular Referral program where users can invite friends and earn. 50% of their trading commissions. Listing of new and popular altcoins before other exchanges. Active Social Media marketing strategy.  Lot’s of trading promos on the Bibox exchange. Bibox’s Current State: How is the token performing? The overall crypto bear market has affected the Bibox token like most other cryptocurrencies. We gathered statistics from Coinmarketcap and saw that BIX is trading at 0.7162 cents USD as of March 20/18 which is approx 0.20 cents higher then what it was trading at only three days ago. We believe there are two critical reasons for the significant price increase:  The G20 summit affected the whole crypto market in a positive manner leading to an overall price increase in many cryptocurrencies. The recent introduction of holding the BIX token and receiving 20% net profit model has led to an increase in the tokens valuation. Bibox (BIX) Competitors& Risks: Challenges BIX may face The Bix tokens value is dependent on how popular and widely used the Bibox exchange becomes. Many of us already know of Binance and consider them to be competition, but there are other aspects to consider that could affect the value of the token. Below we have listed some of the risks and challenges that the BIX token might face:  Competition from other exchanges taking away market share from the BiBox exchange and thus affecting the BIX tokens value. Hacking of the exchange which would affect BIX’s value.  Crypto Economics where the token suffers along with the whole market. The team is not able to keep its promises or is having developmental issues. Bibox (BIX) Crypto Review: Analysis& Final thoughts We believe that the Bibox token might have a positive future outlook if it can meet all of its developmental goals and continue to market the exchange efficiently. The Bibox exchange is being led by industry veterans who have been operating crypto trading platforms for years, and we believe their experience within the industry could assist the Bibox exchange, and it’s native token BIX. Below are some useful links: Exchanges trading BIX tokens: bibox.com Where to store BIX?: myetherwallet Other Useful links: Whitepaper,  Twitter,  Reddit Disclaimer *As always please do your research before investing in crypto projects this review is my own opinion and is not meant to be taken as investment advice.* Recent Reviews COSS IOTA Ethereum AION Etherparty Selfkey