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September 12, 2018, 04:45:15 AM |
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Bitcoin Bing
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 Characteristics of a Currency to be Aware of
Although cryptocurrencies are all based on blockchain technology, they are not all created equal. Here are some differences that you need to understand to make informed trading decisions:
· Transaction processing speed
· Total supply currently available
· Will there ultimately be a limit on the total number of currency available?
· Will there be an unlimited supply of currency?
· Is there a real-world need for this software/currency?
· Real world adoption of the technology
· Any big investors in the project?
· Does the use of the software make sense?
· Do the founders have a reputable background?
Bitcoin Bing has created a platform which would empower the traders along with the whole market. It would usher them into a safer environment which would encourage them to execute volume trading without any fee. Before we go ahead and explain this platform deliberately, it is must to have a clear understanding of this technology.
Bitcoin Bing has been created with the purpose of solving the above current issues. The exchanges today are facing a certain number of issues. Bitcoin Bing team had outlined all those issues and designed its own exchange in a way that it bypasses all those problems.
Bitcoin Bing Solutions
In order to relieve the crypto traders from the above mentioned issues, Bitcoin Bing team has industriously worked on it architecture. The onsite Bitcoin Bing matching engine has a phenomenal transaction processing capacity that can handle up to 1,000,000 orders/second. Bitcoin Bing 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 Bitcoin Bing, 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 pre-empts all forms of advance fee fraud favoured 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. Bitcoin Bing 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 solution.
That is a revolutionary concept in itself, but what is more interesting is that users who invest in the Bitcoin Bing 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. Bitcoin Bing will share its profits in the form of returns among its investors, which means that investing in the Bitcoin Bing ICO effectively entitles an investor to a proportional share in the platform’s operational profits.
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