Blockbid Trade with confidence
Hello everyone in this article I will present an interesting ICO analysis, called Blockbid, based on some of the following criteria:
When cryptocurrency and ICO erupt to the scene, many users / traders become frustrated by the way most platforms only trade in certain Cryptocurrency types. This leads to multiple login credentials for each trading platform. Blockbid’s latest ultra-secure exchange will allow trading of many cryptocurrencies using a single login.
Melbourne, AU, 16 Oct 2017, Blockbid has sent a surprise through the Cryptocurrency industry today with the announcement of a new Cryptocurrency trade exchange. Blockbid’s new trading platform, powered by the highly anticipated ICO is expected to launch a beta program by the end of 2017. The Cryptocurrency market is rather fresh and the current trading platform leaves a lot to be desired, with most trading in only one type of cryptocurrency.
Blockbid is an advanced software development company with members of its team who have more than 150+ years of combined experience. The Blockbid team consists of industry leaders in ASX trading, brokers, blockchain technology, stock market research, startup and serial entrepreneurship. The Blockbid cryptocurrency currency exchange will operate on Australia’s fastest exchange network, with a direct dateline linking more than 180 co-location facilities on 5 continents. An easy-to-use front-end allows users to engage in cryptocurrency trading on the same user interface design used by Facebook, Netflix, and Dropbox, while the back-end interface is similar to that implemented by websites like PayPal, eBay, and LinkedIn.
During a recent interview, Emma Hoffman, CMO Blockbid was quoted as saying, “Blockbid is able to identify the huge need in this market for trading platforms that will allow trading of different types of crypto currency. Blockbid is being designed to help merchants overcome three major problems; inconvenience needed to register into multiple exchanges, anxiety associated with coins spread across multiple exchanges (and potentially untrustworthy), and loss of investment opportunities caused by time lapses in transferring funds between different platforms. Now with our new platform, users will be able to merge many of their user accounts into one easy-to-manage account on the Blockbid trade fair. “
How Does Blockbid Work?
Blockbid aims to solve the above problems by allowing users “to consolidate their many user accounts into one easy to administer account on the Blockbid trading exchange.”
With that in mind, Blockbid promises to offer a greater number of cryptocurrency pairs and fiat currency pairs than any other platform in the world. They aim to end the practice of people being forced to use multiple exchanges when trading multiple cryptocurrency pairs or fiat pairs.
Blockbid also aims to offer fast transaction speeds (a platform capable of processing 1 million tx/second) and an easy-to-use UI.
With that in mind, let’s take a closer look at some of Blockbid’s core features.
Blockbid aims to offer all of the following features:
- Fiat Currencies: Blockbid will support “mainstream fiat currencies” to allow customers from around the world to participate more easily.
- Cryptocurrencies: Blockbid aims to provide more cryptocurrency pairs available for trading “than any other exchange” in the world.
- Easy Access: The platform is designed for traders of all experience levels.
- Secure: Blockbid claims to store 95% of all crypto asset deposits in an offline, multi-signature hardware vault.
- The Best Rates: Blockbid offers flat 0.1% transaction fees and the lowest rates available, according to the website. Additionally, those who participate in the ICO can get a 100% discount on fees for the first year.
- Insured: Blockbid claims that their exchange is “one of the first to be fully covered by cybersecurity insurance” – although it’s not totally clear what that means.
- Speed: Blockbid claims that its exchange can process 1 million transactions per second.
- AML/CTL Guidelines: Blockbid aims to follow Australia’s AML/CTF guidelines. The Anti-Money Laundering and Counter-Terrorism Financing Act of 2006 was designed to deter the use of Australian money for illegal activities. Blockbid will be complaint with AML/CTF guidelines.
Who’s Behind Blockbid?
Blockbid is led by a team that claims to have over 150 years of combined experience. That team includes, according to the official website, “one of Australia’s top ASX traders, a brokerage specialist, well known blockchain experts, a former owner of a popular stock market research website, senior developers and experienced legal advisors.”
Key members of the team include Ben Sapper (CEO), Gabriel Govinda (Director), Matt Youill (CSO), Toby Tremayne (CTO), and Emma Hoffman (CMO).
The exchange announced itself online at the beginning of October 2017. By Q4 2017, they aim to complete beta testing, with a public launch scheduled for Q1 2018. Fiat currency trading will launch in Q3 2018, and mobile app trading will launch in Q4 2018.
The core Blockbid development team is based in Melbourne.
The Blockbid Token Sale
The Blockbid token (BID) sale starts on October 22, 2017.
The Blockbid token (BID) sale starts on October 22, 2017.
The rate is set at 1 ETH = 360 BID tokens during the first week of the ICO, rising to 1 ETH = 300 BID during the last week. There’s a minimum contribution amount of 0.1 ETH and a maximum contribution of 100 ETH per transaction.
Blockbid has set a soft cap of 1 million tokens. No more than 30 million Blockbid tokens will be created.
80% of the total supply of tokens is available during the crowdsale. 12% is reserved for the founders and 8% for bounties.
How Do Blockbid Tokens Work?
Blockbid tokens can be used to reduce transaction costs on the Blockbid exchange. Token holders will receive a 100% discount on transaction costs during the first year of operation, with a 50% discount every year thereafter.
The tokens will not be used on a per-trade basis. Instead, the tokens give you a time window during which you’re permitted to trader as many times as you like for a discount. 1 Blockbid token gives you a 30 minute window.
Traders can use that trading window however they like. They can stack multiple tokens together to extend the trading window. So if you spend 6 BID tokens, you’ll enjoy no fee trading for 3 hours.
Blockbid is a new cryptocurrency exchange preparing to launch before the end of the year. The Australian-based exchange aims to offer superior service, speed, and transaction fees compared to other exchanges on the market. It also aims to offer a greater number of fiat currency pairs and cryptocurrency pairs than any other exchange in the world.
Overall, Blockbid seems to have very ambitious goals in mind. The company claims its exchange can process 1 million transactions per second. Plus, Blockbid token holders won’t need to pay transaction fees. You spend a Blockbid token, then receive free trading during a 30 minute window. After the first year, Blockbid token holders will get a 50% discount on trading fees (which are set at just 0.10% to begin with).
Ultimately, if Blockbid is successful, it could become one of the world’s most popular and successful cryptocurrency exchanges. However, there’s no publicly available platform at the moment, so it’s hard to verify the claims made by Blockbid at this point.
Meet the Blockbid Team
Sign-up for early BETA access
Blockbid is excited to announce that QA beta testing has officially launched on April 16.
Don’t just read it, save the preferred launch date and act on it right now.
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