BINEX is an upcoming cryptocurrency exchange platform that also offers its own utility token, BEX. The crowdsale for the tokens began on March 9th, 2018, with the beta of the exchange launching in August.

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Token details

Users can purchase tokens now, at a price of $1 USD per token. There is a minimum purchase of 100 tokens and a maximum purchase of 1000 tokens per customer, promoting both credibility and fair distribution. BTC, BCH, and LTC are the accepted cryptocurrencies.  

Pre-register bonus

BINEX will also be giving out tokens for those who pre-register for the exchange. The first 60,000 traders will receive a 5 BEX token bonus, the next 100,000 3 BEX tokens, and the 400,000 traders after that will receive 1 BEX token during the pre-registration period.

BINEX has committed to sharing 70% of its trading commission with token holders, with the remaining used for maintenance and further enhancement of the exchange. The exchange will take a 0.3% fee on total volume, meaning if the exchange handles $1 million one day it will take $300, with $210 distributed to token owners. Distribution of commission will be proportional meaning the more tokens a token holder owns, a larger share of the revenue they will receive.

Revenue is shared with token holders every 24 hours, with no expiry date. BINEX’s system will take a snapshot of traders current BEX balance every day at the same time and credit your reward wallet accordingly. Payout methods are BTC, BEX, or USDT. As the exchange grows and volume increases, revenue has the potential to increase, which translates as increased revenue for token holders as well.

BINEX has a calculator on their website, to see the kind of revenue a potential token holder could be expecting with x amount of tokens at x amount of volume for the exchange. BINEX also has volume statistics from other exchanges such as Bitfinex and Binance to give a reference.

The coin supply has a maximum of 21 million BEX tokens, with 1 million reserved for the founders and advisors, 1 million allocated as a pre-registration bonus. The remaining 19 million tokens are up for grabs, with both expert traders and first-time users invited to participate in this crowdsale.

Exchange features

While BINEX has highlighted this differentiated revenue sharing feature of their exchange, BINEX is also a solid platform offering many features for traders. Margin trading with 2x or 3x leverage is available, as so spot trading for immediate buying and selling. Multiple currency pairs are supported, with the primary pairs to be BTC, BEX, and USDT.

Security is also a priority of BINEX, especially after the horror stories of exchanges losing massive amounts of funds to hackers. BINEX utilizes a multi-cluster system, providing high-end security for every transaction made on the exchange. End-to-end security measures have been used for the entire trade cycle, and auditing processes have been improved as well.

To visit their website to learn more, purchase tokens, or to pre register, visit here. Their whitepaper is also available there. To chat with BINEX, the team is available on Telegram, Facebook, Twitter, and BitcoinTalk. Blog posts are sent throughout Medium, and videos are available for viewing on YouTube.

The writer of this post is a guest. Opinions in the article are solely of the writer and do not reflect Null TX's view.