That's BitMax Not BitMex!
BitMax is an exchange that may sometimes get confused with BitMex, the derivatives exchange. BitMax is a standard Crypto exchange that also offers futures trading, as well as leverage trading. However, it is more well known as a spot exchange to buy and sell Crypto.
Like many other exchanges at the moment, BitMax also offer staking on their exchange. Currently you can stake Kava, Tezos, Cosmos and xDai at a fairly competitive rate. On top of staking, BitMax has another great earning stream available and that is what we are going to look at today!
We will look at their native exchange token, BTMX and how you can earn great daily incoming by simply holding this token.
Let's Dive In!
Firstly, BitMax is not your average Crypto Exchange! The founder of BitMax, Dr. George Cao and his team all have Wall Street backgrounds and are very familiar to the world of trading and markets. BitMax is in the top 35 exchanges as far as volume goes and seem to have a strong belief in offering good customer support.
Personally, I have been using BitMax for almost 2 years and have never experienced any issues in regards to trade execution, deposits or withdrawals. BTMX tokens can be purchased on the BitMax exchange, alternatively FTX is a really great exchange that you can utilize.
Once you have have your allocation of BTMX tokens, you can stake them for as long as you choose. There is no lock up period, meaning you can unlock your BTMX after 5 days or 5 weeks. There is no required investment time frame, however funds take 48 hours to be released back into your "Available" balance.
The APR adjusts daily but is currently around 36%, sometimes moving as high as 42%! In the time that I have made use of this service, I have never seen it drop below 30%! Rewards are distributed into your wallet every 24 hours and are received in a handful of coins. Firstly, the majority of the distribution is in USDT. I would say as much as 90%, with the remaining allocation being split between BTC, ETH, USDC and PAX!
BitMax also allow users to swap dust in their balances to BTMX with a fee of 3%, similar to Binance and their conversion to BNB. With this feature investors can choose to reinvest their daily dividends by exchanging them for BTMX and in turn locking them up.
There are other investment instruments in the "BitTreasure" section that you can explore. However the really good ones are often sold out. Conventional lock up of BTMX tokens is always available to invest or withdraw.
Staking, Dividends And Passive Income For Tomorrow
This is an avenue that I became obsessed with about a year or two ago. BitMax is one of many great vehicles available in the Crypto space to make use of to create great passive income.
With prices being relatively low, there is a massive opportunity to build strong passive income for the future. If an investor is able to create $1000 dollars of passive income today, imagine what it will be worth when BTC hits $100 000 in years to come. The time is now!
Please remember this is not financial advice, so please do your own research.
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