Here’s Why Bitto Could Be The Next Big Thing In The Cryptocurrency Exchange Space

The cryptocurrency exchange industry is big business. In the last twenty-four hours, Binance did just shy of $3 billion in volume across its top ten traded cryptocurrency pairs. Bithumb did $3.2 billion. Bitfinex saw $1.64 billion traded on its top ten pairs.

­All of these exchanges take fees from traders for each of the buys and sells they carry out, translating to substantial daily revenues; revenues that are only set to increase as the cryptocurrency space advances further into mainstream consciousness.

This is great for those running the exchanges and the investors behind them, of course, but that’s where the collateral benefit ends – in most cases. Binance has its own token and holders of the coin benefit from the platform’s growth to a degree, but this coin was only recently issued meaning the platform had already expanded its userbase substantially by the time investors were offered an opportunity to take a position in any future growth.

What if there was an exchange that offered individual traders and investors an opportunity to pick up an exposure to the growth of a platform like that of Binance ahead of its user acquisition?

Well, there is, and it’s called Bitto.

Bitto is a brand new cryptocurrency exchange that is currently conducting an initial coin offering (ICO) that allows participants to pick up an exposure to the company and its exchange platform ahead of its primary growth phase.

The first stage of the ICO is about to close but there’s still time to participate ahead of the second stage kicking off and participants will receive the company’s proprietary token, BITTO – something we’ll focus on in a bit more detail shortly.

But first, let’s address an important question: how can a new exchange compete with some of the existing industry behemoths – Binance, Bittrex, etc.?

Well, Bitto differentiates itself from these exchanges by offering its users much more than just the ability to buy and sell a particular cryptocurrency across its platform. Sure, users can trade cryptocurrency using the Bitto platform, but they can also earn money and gain rewards through a number of other methods, including:

• Staking – BITTO is a proof of stake coin.
• Referrals – users earn a live commission on any trades their referred users make across the platform.
• Lending – through the platform’s lending facility, users can lend to other traders and earn daily interest of up to 18%.

But that’s not all. Any users that are either inexperienced cryptocurrency traders or that want to optimize their returns are able ­­to follow other traders – traders that have a proven track record of profitable trading across the Bitto platform. In other words, through the copy trading and signal type service that the platform offers, when a top crypto trader earns, Bitto users earn at the same time.

So what are the advantages of taking part in the ICO?

Well, first up, participants can gain access to reduced trading fees, with the fees payable variable depending on the degree of participation. Second, holders receive bonuses based on the tokens they pick up as part of the ICO. Stage one participants receive a 34% bonus (this is the stage that’s open now – but not for much longer).

Stage two participants receive a 22.5% bonus, stage three participants receive an 11.25% bonus and stage four participants get a 5.625% bonus.

Additionally, the company also intends to carry out a token buyback program that will see it burn tokens over time. As per this program, a certain percentage of profits will be used to by BITTO on the open market and these tokens will be removed from circulation. Simple supply and demand economics suggest that a decreased token supply should translate to an increased per-token price, meaning that this reward program should boost price over time.

There’s also an organic per token price increase assumption, rooted in user growth. As more and more users come on board, more BITTO will be bought and held to stake the network, increasing demand and – by proxy – price.

Finally, if a user wants to take advantage of the copy trade facility, they must purchase tokens to use as capital. Therefore, the higher the participation in this program (and since it’s a neat way for users to essentially trade like a professional), the higher the demand for the tokens.

To conclude, then, this is a brand new exchange that offers its users much more than the current leaders in the space offer theirs. Lending and borrowing facilities, staking and the ability to earn through referrals should drive user growth and any participants in the ICO stand to benefit from this growth through their ownership of BITTO tokens going forward.

Check out the Bitto white paper here.

Participate in the first stage of the company’s ICO here.

Image courtesy of Bitto.tech