July 31, 2018

4 min

With the pervasive rise of Artifical Intelligence, it’s no surprise that a plethora of trading exchanges and blockchain based solutions have started to use machine guided systems to stay ahead of the curve autonomously. Moreover, a new Chinese exchange entitled “Bibox” is no exception. Bibox is an AI enhanced-encrypted digital asset exchange platform with top-tier Chinese blockchain & Crypto giants forming the founding team.

Said team includes a co-founder of OKCoin and other core founding members from Huobi Global which are currently China’s two largest cryptocurrency trading platforms. Alongside the core tech and operations team, Bibox also caters for professional securities traders, Venture Capitalists, high-tech Angel Investors, and top A.I experts to cohesively collaborate and make use of the platforms differing components.

Bibox Exchange Analysis

Bibox currently has over 60 coins listed on the exchange, with 145 market pairs linked to the five base currencies of BTC, ETH, USDT, DAI, and BIX for traders across the globe. Bibox is also reportedly listed in the top 10 global exchanges with regards to BTC and overall daily trading volumes. The exchange generates roughly $250m worth of trading per day which is currently largely due to their BIX/ETH pairs that accumulate to an approximate $66m equivalent of daily volume.

Bibox Key Features

Functionality – Bibox operates primarily as a web-based trading platform, with an elegant, user-friendly design not too dissimilar to centralized exchanges such as Binance. Their platform features are inclusive to the standard order book, trading history, responsive charts, basic and/or full-screen mode along with more advanced technical analysis indicators. Technology – The Bibox team continually strive to enhance their technological features by integrating AI based modules and other smart tools to allow for smooth and consistent, autonomous trading.

The Bibox platform has also included API Integration with additional support for PC, Mac, Android, and IOS Mobile devices.

With regards to Trading Options - Bibox provides its traders with a versatile range of options to cater for novice to the more experienced traders. Users have access to a plethora of coins, limit and market orders, and have the simplicity of a standard 0.1% trading fee. Similar to the BNB token structure, traders using Bibox can receive a 50 % discount on transaction fees if they pay with BIX on the platform.

Customer Support – The site is currently available in English, Chinese, Russian, Korean, and Vietnamese. Bibox also offers a highly responsive support team available 24/7 to help with issues encountered on the exchange. The support line and queries can also be sent through via Twitter, telegram, and facebook page. Bibox also provides a pre-prepared FAQ and written guides to help new traders navigate different features on the platform.

Bibox Supported Currencies:

Bibox currently operates exclusively as a crypto-to-crypto exchange without any support for fiat to crypto conversions. However, the team has announced that they plan to incorporate fiat pairings in the not too distant future. In the meantime, users can use alternative industry standard coins such as USDT.

Bibox also allows access to several NEP-5 tokens, and other lesser-known tokens such as CPChain, ELF, HPB, IoT Chain, KEY, Pundi X, and Trinity.

What differentiates Bibox from mainstream centralized competitors like Binance or Huobi Global is its continual listings and community engagement for alt tokens.

As mentioned, and in similar alignment with Binance’s BNB, users can receive discounts for transactions and trades by using Bibox’s native token (BIX) on the exchange. This aspect further helps to incentivize both investors and traders to buy and hold BIX less they wish to be subject to a 0.1% trading fee. Withdrawals made through Bibox are charged a network transaction fee that will adjust according to the relative traffic on each network.

Bibox Security:

Bibox applies numerous security protocols to stay consistent with industry standards and also protect client accounts. The exchange provides such features as Google Two-Factor Authentication, SMS Authentication, and account passwords. Despite a lack of transparency from the team, it’s been noted that a majority of user funds are still kept safe through integration with offline cold storage wallets. As of this writing, Bibox has been resilient to any attempted hacks.

The exchange incorporates many features designed to assist trading such as a microservice splitting which breaks down large volume transactions into smaller components, which can be carried out more securely and efficiently. The platform is also controlled and governed by an AI system that addresses any faults that might be incurred during the day to day activities. Bibox also uses API interfaces such as RESTful, WebSocket and Fix, to help reduce volatility and losses with regards to any sharp market changes.

Bibox Conclusion

Although Bibox is comparatively new and striving to compete with existing Chinese exchanges such as Binance, OKEx, and Huobi Global - the team has managed to gain traction and help proliferate the exchange throughout both a domestic Chinese and international trading community.

The team is also working to increase Bibox’s market dominance by incorporating features such as margin trading, open spot transactions, and various machine learning data algorithms. The site currently utilizes a memory matching system that helps deliver speeds in the region of megabits per second, and provides users with unified market entry/exit data, as the platform filters out a significant amount of alt currency data, thereby providing the most efficient deals to traders at any given moment.

One drawback of the exchange and the associated team is a lack of transparency with regards to communication and future developments. However, the trading platform would traders looking to trade in lesser-known alt coins, along with those who have an interest in more advanced data features and possible margin lending features. Given the efficiency of the exchange and a multitude of display options, Bibox provides a smooth transition for more experienced traders and enthusiasts dispersed throughout the global cryptocurrency community.

Bibox Coin and Exchange Links

Currency Pairs & Trading Volume (CoinMarketCap)
Bibox Token (CoinMarketCap)
Exchange
LinkCoin C2C (peer to peer exchange)
Bibox FAQ
Bibox Guide
Bibox Help

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