Bitmax token is native token of the Bitmax exchange created on the Ethereum blockchain network whose transaction takes place from one peer to another without involvement by the government thus is being considered to be a decentralized asset. Bitmax tokens were mainly created to enable traders of the Bitmax exchange to be able to earn dividend from the trading fees generated by Bitmax exchange provided that they are holding their Bitmax tokens. The bitmax token holders will not be entitled to company's shareholding. Instead, they will only be entitled to the bitmax tokens created when traders are performing their trading activities. The more the trading activities and the trading volumes created,the more the bitmax tokens being released thus the more the reward to the token holders. The more the tokens locked by token holders, the more the reward to be recieved.
Bitmax token transaction
Bitmax token transaction takes place on the Ethereum blockchain explorer based on block height and time stamp . To view how the transaction takes place at Ethereum blockchain explorer, simply follow the link below; https://ethplorer.io/address/0x1c289a12a8552b314d0d153d6991fd27a54aa640
Bitmax token was created and launched in 2018 together with its native platform the Bitmax exchange with the main objective of helping Bitmax token holders to earn a dividend as well as to settle transaction fees while trading using the coin
Founder Of Bitmax token
Bitmax token together with Bitmax exhchange was createad by Veteran wall street traderS one of them being George Cao with the main objective of helping traders to earn bitmax token through trading provided that their tokens are locked
Process of creating Bitmax token
Unlike Cryptocurrencies like bitcoin and ethereum which are created as a proof-of-work through the mining process, For Bitmax token,that is not the case. Instead, most of it were issued during its initial launch stage. 49% were set aside for pre-distribution, that is 5% to early investors, 4% to their strategic partner, 12% to team members, 18% to the bitmax foundation, 9% for private sales while 1% for its marketing.The remaining 51% are the one which are being released on a daily basis by traders while performing trading activities.Traders who take part in unlocking of their Bitmax token will be entitled to distribution of daily dividend received from trading mining activity. For every trading activity a trader performs he or she releases certain amount of bitmax token of the 51% . The bitmax token released by the trader is being considered to be the trading fees. This token will enter the data usage reward distribution centre where each token holder based on the amount they have unlocked will receive their reward. 20% of the mined token remains with the company while 80% is being distributed based on token holders amount provided their amount is unlocked. Here is the
Maximum circulation of Bitmax token
The maximum supply of Bitmax tokens that is expected to be circulating in the Ethereum blockchain network should be 10,000,000,000 coins. Out of this amount, 4,900,000,000 were set aside for pre-distribution. From this 4,900,000,000 coins, 245,000,000 were distributed to backers while 196,000,000 and 588,000,000 to strategic partner and team members respectively. Another 882,000,000 ; 441,000,000 and 49,000,000 from the 4.9 billion amount was set aside for the bitmax foundation, private sale and for marketing respectively. The remaining 5.1 billion bitmax coins are the one being distributed to the ethereum blockchain through the trading mining activity performed by traders on a daily basis until the 10,000,000,000 amount is reached.
Bitmax token Price
Currently, 1 Bitmax token is worth more than $0.11 and its price is expected to increase over the next period of time. Bitmax token is being abbreviated as BTMX.
Converting my Bitmax token to other cryptocurrencies
To convert your Bitmax to other cryptocurrencies such as bitcoin and ethereum, you need to have a cryptocurrency exchange account. Currently,Bitmax token is available for trade at Bitmax exchange .If you want to start earning dividend like other investors and traders at Bitmax exchange by holding Bitmax token then you can open a Bitmax exchange account . Here is a link redirecting you to Bitmax exchange https://bitmax.io/#/register?inviteCode=QHG5CQ8C
Storing my Bitmax token
To store your Bitmax, you need an ethereum ERC-20 compatible address such as myetherwallet or metamask. You can store your Bitmax on the Bitmax exchange if you want to be earning dividend. Make sure they are locked on Bitmax platform to be entitled to receive the 80% trading fees data bonus .
Transferring my Bitmax to other Users
If you want to transfer your Bitmax to another user, the two of you must have trust in each other. The trust should be the Bitmax address provided for by the receiver while the sender must have the Bitmax balance in their account to send to the receiver. For the sender, a blank space to insert receiver address and another blank space to insert the amount to send to the receiver is indicated. Here is how it looks like;
Knowing more About Bitmax
If you feel that you need to learn more about Bitmax token, then you can follow them on their site. Here is the link redirecting you to Bitmax website
Now that you know, i think that it is time for you to start earning some dividend at Bitmax exchange by holding bitmax token on a daily basis and making sure they are unlocked to be entitled to daily bitmax distribution dividend.The more you hold the more dividend you earn. If you feel that i should also own some Bitmax token for helping you to know about it then here is my Bitmax address that is compatible to ethereum ERC-20.