BitcoinBing: Shaping The Future of Crypto-Exchange


BitcoinBing is a cryptocurrency marketplace with unique features and enhancements that make it better than any other typical cryptocurrency exchange. Leveraging the peer-to-peer architecture, which the entire blockchain concept is built on, BitcoinBing gives absolute control to its users over their desired cryptocurrency exchange formats, processes and procedures. Bitcoinbing exchange enables all the users to place the transactions on Zero percent fee. Bitcoinbing wallet offers security with blockchain protection which seals every transaction firmly. Bitcoinbing will provide assistance round the clock by the well-trained specialists on the platform.


Our 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.

Existing Issues

Bitcoinbing has been created with the purpose of solving the current issues. The exchanges today are facing a certain number of issues. Bitcoinbing team had outlined all those issues and designed its own exchange in a way that it bypasses all those problems.

Insufficient Infrastructure

Almost all the existing exchanges are put together in a rush to make profits as soon as possible. This approach has caused basic shortcomings in their structure of operations. Bitcoinbing platform took a longer time for development, with the specific goal of ensuring that the user experience does not deteriorate as user volumes rise on the platform. Bitcoinbing team used years of experience in cryptocurrency and design, with this collective effort enabled us to build a platform which maintains a uniform standard for user experience, with the capacity to withstand heavy transaction loads and immense fluctuations.

Inferior Security

Exchanges often go without proper security structure which results into users' information getting compromised at many levels. Many exchanges had become victims of hacking attempts or other black hat practices, which ultimately led them to shut down. With Bitcoinbing, all building and design is carefully audited to make sure that design flaws and structural weaknesses do not creep in. We have made sure that the users' identity or any other information doesn't get compromised at all.

Irrational Parameters

Many a times, exchange rates and transaction conditions imposed by the exchanges are unfair. They are not based on any grounds and try to take inordinate amount of money from the users. The Bitcoinbing platform stays out of the user's way as much as possible, instead giving users a platform to connect with each other on peer-to-peer basis, where they can agree on all transaction details including buying and selling price, transaction duration and payment mediums. With the help of Ethereum smart contracts, the platform wraps up this user freedom in a layer of trustless security which ensures that users will not have bad experiences.

Rigid Market Conditions

Unlike conventional exchanges which often have shallow order books, resulting in significantly expensive trading slippage due to delays, Bitcoinbing does not pose a slippage risk to users because their desired currencies are sourced exclusively from other users, so in effect if there is a willing seller, then the willing buyer only has to contact that seller and negotiate privately before a smart contract is agreed to seal the transaction. This also means that the platform does not pose an exposure risk to itself by holding large amounts of cryptocurrency in an attempt to avoid slippage, as some other large exchanges resort to.

Poor Customer Service

Most of the existing exchanges have no firm structure or protocol in place to deal with customer complaints or troubleshooting. This eventually leaves customers angry and frustrated because in this line of business, a complaint almost certainly involves monetary loss. Bitcoinbing's mechanism prioritizes the end user every time, so in addition to creating a secure, trust-based framework for users to connect and trade coins with each other, there is a robust conflict and complaint resolution framework and a dedicated customer service team in place to make sure that users get full value for their trading experience every time.

Want of Globalization

A large number of exchanges are built with only one country or territory in mind. They tend to overlook the fact that blockchains are not restricted to any geographical or linguistic boundaries. The Bitcoinbing supports multiple languages considering the large number of traders existing in the farthest corners of the world, who are more accustomed to their own language than English. The goal is to provide a platform that seamlessly supports users from across the world.

Unreasonable Transaction Fee

Transaction fee is mandatory for many exchanges. It is the only source of income for many of them and as a result, transaction and handling fees can be as high as double digit percentages. Bitcoinbing exempts ICO investors from transaction fee when using the platform and there is a healthy range of alternative revenue streams that enables the platform to charge reasonable transaction fees for other users.There would be no transaction fee on BitcoinBing platform.

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.


Features of Bitcoinbing


Bitcoinbing Trading Exchange


Crowdsale details


Discounts and Bonuses
Token Sale Price:
Only 30 M Bitcoinbing will be issued 6 x Benefits from ico price 1 BING=0.08 $

For Public Sale
First stage 1 October 2018
Only 30 M Bitcoinbing will be issued 2.5 x Benefits from ico price 1 BING=0.20 $

Second stage 15 October 2018
Only 30 M Bitcoinbing will be issued 1.66 x Benefits from ico price 1 BING=0.30 $

Third stage 31 October 2018
Only 30 M Bitcoinbing will be issued 1.25 x Benefits from ico price 1 BING=0.40 $

Release date 14 November 2018

Only 30 M Bitcoinbing will be issued 1 BING=0.50 $

Price without discounts 1 token for 0.5 $

Roadmap

01
September 30, 2018
Crowd Sale Launched.

02
December 31, 2018
Exchange Launched.

03
March 31, 2019
Mobile App Launched.

04
June 30, 2019
Margin trading Implement Beta version.
Coin Burning Quarter Wise Started.
Launching Decentralised Version Exchange.

05
September 30, 2019
Desktop Application.

06
December 31, 2019
Lending And Borrowing.

FOR MORE INFORMATION CLICK LINK BELLOW:

Website: https://www.bitcoinbing.io
Whitepaper: https://www.bitcoinbing.io/bitcoin%20bing.pdf
Bitcoinbing ICO: https://www.bitcoinbing.io/register.php
ANN thread: https://bitcointalk.org/index.php?topic=5037403.0
Telegram: https://t.me/bitcoinbing
Twitter: https://twitter.com/BingBitcoin
Facebook: https://www.facebook.com/Bitcoinbing-22865046

Author: bloogy

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