What is BitcoinBing Project?

tinhkhuat (32)in #bitcoinbing • 6 years ago

What is BitcoinBing Project?

In the budding world of cryptocurrency, understanding the cryptocurrency exchange is important to get started. As cryptocurrency is making its way into the markets, exchanges with a robust mechanism and additional benefits will enhance the usage of this technology. It would encourage more & more people to join a safer medium for trade which secures their benefit.

The goal of BitcoinBing is to provide traders with the ultimate user experience on the market. For this to be achieved a high-performance trading engine, customizable interface and active platform development are utilized. BitcoinBing team employes the user-centered development approach, thus making delivery of the market-leading trading experience the main mission!

BitcoinBing Vision:

BitcoinBing's vision is to raise the standard of expectation across the industry and to deliver a world class experience with an exceptionally powerful trading engine, active platform development and a customizable interface. We are tackling issues that span the industry and our platform is dedicated to the user base. Bitcoinbing is a balancing participation in the blockchain space and accelerating mass adoption. This project is focused at optimizing the trade with induction of cryptocurrency and blockchain. It is an endeavor to usher the world into a secure and reliable system. Bitcoinbing will secure the interests of its users in all aspects. Its motto is to ease the way people make their transactions today. With peer-to-peer architecture, this platform will neutralize the profit for every user.

BitcoinBing Solutions:

In order to relieve the crypto traders from the above mentioned issues, Bitcoinbing team has industriously worked on it architecture. The onsite Bitcoinbing matching engine has a phenomenal transaction processing capacity that can handle up to 1,000,000orders/second. Bitcoinbing users are spared from the trouble of waiting for their orders to get out of a queue which in some instances can take days or even weeks to process. This platform offers all the services that a typical exchange provides such as spot trading, margin trading, anonymous instant exchange and decentralized exchange. In addition to that, it also offers the ability to conduct over-the-counter and peer-to-peer trading of fiat and cryptocurrency in a flexible and secure manner. In Bitcoinbing, users signify what cryptocurrencies they have and what exchange rate they are willing to sell with, and other users respond to them and negotiate until an agreement is reached. Upon doing that, a smart contract is agreed stipulating how much is to be exchanged on both sides, how the transfer of value is to be made, and within what time frame these events are to take place. In order to ensure that users are not cheated of their money or otherwise discomfited, a rating and review mechanism exists for each year to gain onsite trust ratings, which helps users in making critical decisions about who to do business with. As mentioned earlier, smart contracts in this paper contains an escrow mechanism that ensures that none of the users can get hold of the other user's fiat or cryptocurrency without paying in their agreed value for exchange. This preempts all forms of advance fee fraud favored by internet fraudsters. This platform works as an adjudicator between conflicting parties by incorporating a dispute resolution framework, using a decentralized decision making process to resolve conflicts fairly. Bitcoinbing has the ability to integrate with a vast number of fiat and crypto payment systems including but not limited to Paypal, Neteller, Western Union, International Bank Transfer, Perfect Money and a host of other payment solutions. Instead Instead of giving users a rigid operational framework with which to trade likes a conventional cryptocurrency exchange, Bitcoinbing allows User A, who wants to buy BTC to connect with User B who has BTC to sell at a certain price. When the price and transaction details are agreed between both parties, an Ethereum smart contract is generated which states how much is to be exchanged from both ends, with what method, and within what time frame. In the event that either party defaults on any conditions baked into the smart contract, it will automatically initiate a refund of the cryptocurrency it holds in escrow to the cryptocurrency seller. If the contract terms are adhered to, and both parties signify their satisfaction, it disburses the payments as appropriate and the contract is terminated. That is a revolutionary concept in itself, but what is more interesting is that users who invest in the Bitcoinbing ICO are given the ability to engage in trading on the platform without paying transaction fees. So in essence, it is possible for users to create their own custom buying and selling conditions for Bitcoin, and carry out entire transactions without paying the platform a commission. Bitcoinbing will share its profits in the form of returns among its investors, which means that investing in the Bitcoinbing ICO effectively entitles an investor to a proportional share in the platform's operational profits.

BitcoinBing Features:

Zero Fee Structure

Bing token is Bitcoinbing platform’s native token which gives traders zero trading fee, when using it to pay fee for trades made on Bitcoinbing exchange. This mean that Bitcoinbing raised capital, launched with a functional product and instantly had a practical utility to benefit users. A utility token is a functional token that, through smart contract programming, can be utilized

in many different ways. In case of Bing, it can be used to pay for services within the platform as well as with zero trading fee

Multiple Currency Pair

BitcoinBing platform offers multiple currency pairing which would enable them in executing multiple transactions simultaneously. Initially the tokens would be paired with BING, BTC, ETH, & USDT. During the 1st quater of 2019 Fiat would be Deployed in which Major currencies would be USD, GBP, & INR.

Full Stack Trade Desk

This particular feature strengthens the traders to trade with all the assets and derivatives. It lets them make investments with calculated risks along with telling them the parameters and straightening the transactions. It tells them the total amount of the assets on the dashboard and lets them calculate the profits they gain. The in-built trade calculator includes all the parameters by which the trader makes transactions and it gives out accurate results. The full stack trade desk enables the traders to plan the business strategically, keeping all the risks at bay.

Security

Security is the utmost priority for any platform which offers payment and transaction services. Bitcoinbing, being an exchange could not leave a stone unturned to make the security foolproof. Engineered on blockchain, Bitcoinbing has evaluated ever aspect of security and made the platform stalwart to counteract any security threat. This platform has included processes such as KYC to make the information absolutely safe. Blockchain itself provides a seal of security, but to reassure that everything is secure, Bitcoinbing has added every other parameter which makes its security paramount.

More in detailed there would be

2FA Authentication (For Login and Withdraw)

OTP Verification

E-mail Verification (For Login and Withdraw)

All Funds Will be stored in secured cold wallet

Encrypted Keys

DDOs Preotction

Data Transmission

Token Buyback

Once a quarter, Bitcoinbing will aggregate atleast 50% of the exchange trading fee and use them to buy and burn Bing exchange tokens. This will keep a balanced amount of tokens in the market and in the platform for users. This process will burn additional tokens getting collected in the market and keep the value of Bing token intact. It would also help in gaining more value on top of the existing value.

Speed

Desktop & Mobile App

The Bitcoinbing platform is developed for both desktop and mobile users. As the number of mobile users is increasing rapidly, Bitcoinbing doesn’t want any of its users to lose a single transaction due to this limitation. The compatibility of the platform with different operating systems such as Windows, Android, iOS and Linux has been checked by industry experts at numerous stage.

Trading competition and Airdrop distribution

With all the other advantages, Bitcoinbing platform will also have a day trading competition and airdrop distribution. This would keep the traders motivated to engage in trading, it would also help them recover their losses, if they face some. Airdrops have become an integral part of ICO marketing campaigns. They can add a significant amount of investors in any program.

The concept of trading competition is introduced to keep users engaged in trading activities which would help them in their portfolio. This program increases the user participation and rewards them with many benefits.

24/7 Live Chat

Bitcoinbing will provide 24/7 live chat support to assist users with any query or issue. Although, the platform is built in such a way that it leaves no scope of issue, the Bitcoinbing team understands that it may take a while for the users to come to terms with the platform. Therefore, we will have live chat support that will help the users with queries and nuances of the platform. This support system will have experts who know the platform inside out. The team will be resolving all the queries as soon as possible and all the complaints will be handled with immediate effect.

Instant Withdrawal & Deposits.

There will be Automatic Deposits and Withdrawal in accounts once verified with the security. so the users will have not to wait for the either deposit or withdrawal.

Team:

Ambassadors

Roadmap:

This roadmap will render our vision crystal-clear to you. Our strategy is to methodically grow while distributing the profits timely among the users. The events scheduled as per this roadmap will help make a steady growth alongside earning benefits.