Bitop: Connecting traditional finance with blockchain assets

Bitop: Connecting traditional finance with blockchain assets

Bitcoin Ethereum News
July 29, 2021 by J.D. Smith
23
Over 50 million people around the world participate in global digital currency transactions, while this number accounts for a mere 1.25% of the world population it is set to grow in the coming years and blockchain and digital currencies are gaining immense popularity. Digital currency exchanges, therefore, need to integrate more financial services into their

Over 50 million people around the world participate in global digital currency transactions, while this number accounts for a mere 1.25% of the world population it is set to grow in the coming years and blockchain and digital currencies are gaining immense popularity.

Digital currency exchanges, therefore, need to integrate more financial services into their platforms. This would include providing options, futures, derivatives, and CFDs options to traders in a smooth and efficient manner.

Bitop is an automated trading system that offers its users digital assets and derivatives trading services. CFDs or Contracts for Differences are derivative transactions that allow users to trade in stocks, forex, exchanges, and securities without actually having to own an asset.

They are an essential part of a trader’s portfolio and recognizing their importance, Bitop is aiming to revolutionize and bring in a new era of artificial intelligence for CFDs with their platform.

Problems of the current blockchain-based system

A major problem of the current digital currency exchanges is that they lack scalability which can be a major deterrent in the mass adoption of digital currencies.

Another major issue with the exchanges is that of security, not distinguishing between hot and cold wallets can result in not only hacks and loss of funds but thereby also harm the reputation of the exchange.

Bitop’s solution

Bitop is a self-developed blockchain asset trading system that was launched in 2018 and is registered in Singapore.

The platform seeks to provide its users with a well-rounded and diverse ecosystem that includes an exchange platform, a cryptocurrency, and an e-wallet system. This would enable users to increase the effectiveness of their transactions.

Security and scalability

As mentioned earlier, Bitop offers derivatives trading services to its users, the derivatives connected to Bitcoin, Ethereum, Litecoin, Binance coin, Ripple, and Bitcoin Cash can be traded by users of the platform.

The Bitop platform has also developed an independent risk control system in response to concerns regarding security issues.  This has been done in order to enable a quick response from the platform if there are any abnormalities with the wallet systems and transactions.

Spot and copy trading

Bitop allows users take-profit and stop-loss options along with spot trading. Take-profit has a 300% margin ratio whereas stop-loss has an 80% ratio.

The platform also has a Copy Trading features, that can be helpful for amateurs and novices. This option provides users with a list of traders and their performance statistics with metrics such as success rate, past month returns, 30-day income, etc.

Leveraged trading

Bitop is a platform that offers users a contract trading option focusing on CFD. It provides a leverage of 200x and hosts only futures with expiry dates.

As CFD trading can be risky for beginners, Bitop provides demo trading options where users can practice trading before, they actually start trading on the platform. The stop-loss option can also be helpful to reduce losses in trading.

The platform also has plans to launch futures without an expiry date (perpetual futures) within 2021.

BTOP Tokenomics

To incentivize the community, Bitop plans to launch their First Trade Token, BTOP with a constant 2 billion supply.

Initially, BTOP will use the Ethereum-based ERC-20 standard token. The token has community operation in its core ideal and while also rewarding its community members through proof of POC contribution.

The token will not have an ICO (Initial Coin Offering) however, 15% of the tokens have been set aside for team activities a 55% will be used for community ecological node mining. A 10% share has been set aside for operational expenses while the remaining 5% has been reserved for legal and compliance expenses.

Conclusion

The Bitop platform provides its services in more than 150+ countries around the world, it has developed its own ecosystem to make the trading experience more comfortable for its users.

Apart from its website, Bitop also has its mobile app available for Android and iOS where users can easily access trading charts and other vital information about their trades on their phones.

With strict security measures, a smooth user experience, and its educative tool the Bitop platform aims to become a pioneer in the digital transactions industry.

For more information on Bitop, check out their website.

Disclaimer: This is a paid post and should not be treated as news/advice.