ONE OF THE GREATEST ASSET PLATFORMS
INTRODUCTION
Blockchain is becoming the cornerstone of modern innovation and has
the potential to revolutionize the world. Recognizing this potential, we
at Bithemoth have assembled a professional team of budding
entrepreneurs and seasoned investors to create an all-encompassing
blockchain trading platform. Since cryptocurrency is designed for
mainstream adoption, our platform will be a stop-shop for clients that
intend to earn huge returns on investment. We will create a
user-friendly system that incorporates both traditional markets and the
blockchain based assets.
Bithemoth Ecosystem will offer the following:
- Fast and intuitive exchange.
- A rich trading platform embedded with digital asset investment opportunities.
- A turnkey ICO Incubator
Our services will be accessible through a streamlined platform that
is embedded onto the blockchain technology. It is our belief that
newcomer investors do not need to pass through a laborious process
before benefitting from the crypto market. Our vision at Bithemoth is to
mentor new investors for them to become skilled in the crypto-space
through our supportive, simple and user-friendly platform. While on the
other hand, allowing experienced traders to enjoy highly flexible, fast,
and secure environment that is inherently laden with familiar features.
Bithemoth will not stop at providing a user-friendly platform to
investors; we will also offer an integrated marketplace and ICO
Incubator that will provide our users more opportunity to utilize their
crypto or take advantage of new developments.
Bithemoth will refine the way crypto-currencies are traded and will be a key leading innovator in this sector. This platform will incorporate multiple novel features to distinguish itself from existing platforms solidifying itself in the crypto-sphere. Utilizing the diversity of the team we are creating a powerful and robust exchange, which will not only satisfy the needs of traditional stock investors but will also simplify the trading process allowing any person to be part of this technological renaissance.
Bithemoth will refine the way crypto-currencies are traded and will be a key leading innovator in this sector. This platform will incorporate multiple novel features to distinguish itself from existing platforms solidifying itself in the crypto-sphere. Utilizing the diversity of the team we are creating a powerful and robust exchange, which will not only satisfy the needs of traditional stock investors but will also simplify the trading process allowing any person to be part of this technological renaissance.
Team Experience
Members of Bithemoth platform are premium level experts in the
financial sector and related fields. Our vision is to build a successful
business in this space and to create a solid bridge that will connect
the digital asset ecosystem to existing institutions. Blockchain
technology will no doubt introduce a paradigm shift in the way
businesses is conducted, however, we will leave no stone unturned in the
blockchain space when applying basic business ethics to develop users’
applications. According to Dr. Garrick Hileman, during a global
cryptocurrency benchmark study at the Cambridge University in 2017,
“Cryptocurrency will not be useful when it is at a close vacuum, but
with the effort of connecting bridges, it can be used to improve the
economy”. We align ourselves with the position of Dr. Garrick that is
why we parade top-notch professionals to build these connecting bridges.
Bithemoth plans to improve on the existing fintech space rather than
starting from the scratch with a view to seamlessly integrate
traditional brokerage services into the growing digital asset economy
and the proven blockchain platforms.
CURRENT ISSUES
The following are a list of common issues that militate against the growth of existing exchange platforms. Bithemoth strives to provide solutions using a user friendly, fast and fully licensed platform to ensure that these issues are mitigated.
INITIATION
This first issue we would like to focus on is how cumbersome and
tedious it is to sign-up and deposit funds into current exchanges. In
some instances, it can take days and even weeks to get verified on an
exchange. For most investors, this period of time is extremely stressful
and can feel like an eternity with the market continually changing. As
we all know, time is of the essence when it comes to investing.
At Bithemoth, we would like to address this issue by streamlining the signup process and providing world class support for investors. This will not only make it easier to sign up but will also reduce the verification time significantly. We leverage on our understanding of time management to mitigate this issue. Investors are guaranteed of a seamless and fast platform for trading.
At Bithemoth, we would like to address this issue by streamlining the signup process and providing world class support for investors. This will not only make it easier to sign up but will also reduce the verification time significantly. We leverage on our understanding of time management to mitigate this issue. Investors are guaranteed of a seamless and fast platform for trading.
Poorly Designed U.I’s
Another issue that investors normally have to deal with is the issue
of poorly designed UI’s and archaic platforms. Most crypto-trading
platforms are usually bogged down with excessive numbers and charts with
little to no explanations. This can overwhelm even the most seasoned
investors. With this challenge, how will amateur investors learn the
ropes to become a professional investor? This question has amicably
taken care of with the introduction of our platform.
In order to solve this issue, we are consulting with industry experts from various trading backgrounds to create the most efficient and robust UI that is available on the market. In addition, to completely explain our UI, we will be releasing a series of videos to make sure that everyone using Bithemoth will be able to make full use of all of our unique features.
These videos will go a long way to explain how our features operate, so that amateur investors will learn everything they need to know even without going through a mentorship class.
In order to solve this issue, we are consulting with industry experts from various trading backgrounds to create the most efficient and robust UI that is available on the market. In addition, to completely explain our UI, we will be releasing a series of videos to make sure that everyone using Bithemoth will be able to make full use of all of our unique features.
These videos will go a long way to explain how our features operate, so that amateur investors will learn everything they need to know even without going through a mentorship class.
Platform Speeds
Another germane issue we will look into is the speed of current
exchanges. Several investors have been complaining about the snail speed
the currency exchanges are fraught with, resulting in huge losses.
In view of the above, we are future-proofing our exchange to ensure scalability and speed. We will achieve these through setting up a strong foundation for the platform to grow. This will ensure that the exchange will be able to maintain efficiency if there were a surge in user registration. In addition, we will also assign a support team that would be charged with the responsibility of resolving users’ queries and complaints within the shortest possible time.
In view of the above, we are future-proofing our exchange to ensure scalability and speed. We will achieve these through setting up a strong foundation for the platform to grow. This will ensure that the exchange will be able to maintain efficiency if there were a surge in user registration. In addition, we will also assign a support team that would be charged with the responsibility of resolving users’ queries and complaints within the shortest possible time.
Customer Service
The greatest challenge faced by investors in the crypto-market is the
issue of customer service and support. The challenge ranges from
unresponsive support teams to rude staff members. From our visibility
studies, we discovered that there has never existed an exchange with a
world class support team.
At Bithemoth, we place value on the trading experience of investors, which is why we are maintaining a pleasant trading environment. We realized that having a world class support team cannot be overemphasized.
To confront this challenge, we will hire top-class customer service experts to work in our customer service unit. These experts will be adequately trained and certified to handle customers’ queries and complaints. We will make a point of duty to train and retain our customer service team, and the fees will be borne by Bithemoth. This training will align the superior standards of our exchange with the interpersonal skills of our staff members. That’s not all, we will only select the best candidates for the job to reduce the waiting time that users will get a response from us. Once users have reported an issue, our customer care will respond to the complaint as fast as is humanly possible. The trading experience is a priority of the Bithemoth team and we are motivated to assemble the best support team possible.
At Bithemoth, we place value on the trading experience of investors, which is why we are maintaining a pleasant trading environment. We realized that having a world class support team cannot be overemphasized.
To confront this challenge, we will hire top-class customer service experts to work in our customer service unit. These experts will be adequately trained and certified to handle customers’ queries and complaints. We will make a point of duty to train and retain our customer service team, and the fees will be borne by Bithemoth. This training will align the superior standards of our exchange with the interpersonal skills of our staff members. That’s not all, we will only select the best candidates for the job to reduce the waiting time that users will get a response from us. Once users have reported an issue, our customer care will respond to the complaint as fast as is humanly possible. The trading experience is a priority of the Bithemoth team and we are motivated to assemble the best support team possible.
International & Multilingual Support:
Another major pitfall of current trading platforms is that they lack
adequate international support. This centralized some exchanges to
certain regions and inhibits them from developing into a global
platform. In order to truly make our exchange available world-wide, we
are going to utilize the diversity of our team and ensure that the
exchange will have support for all major languages. This will earn
Bithemoth as one of the most globally accessible exchanges on the market
and reduce some of the market variation experienced between different
regions.
Security
As an investor, one of the most heightened concerns is the security
of an exchange. This is because even though every investor would like to
store their funds remotely, it is inevitable that a portion of one’s
investments will be located at the exchange due to active trading. While
some of the other exchanges seem to overlook the security of their
platforms, at Bithemoth, we believe that transparency is the key to the
success of any business. In light of this, our platform will run
transparently. To ensure the security of our platform, we have deployed
high level state-of-the-art security architectures to protect investors’
funds, guaranteeing its safety.
Registration, Licensing, and Regulations (Multiple Jurisdictions)
According to Hileman and Rauchs, the greatest challenges facing
current cryptocurrency exchanges is to maintain cordial relationship
with traditional financial institutions, payment gateways, and banks.
Furthermore, analysis conducted in over 150 companies reveal that small
exchanges have difficulties maintaining relationship with financial
institutions.
In view of the above, Bithemoth intends to operate as an electronic money institution. For us to run a multi-faceted fintech platform, we will obtain multiple licenses from different jurisdictions with a view to remaining compliant with laws and regulations. Whenever we plan to expand our services to other jurisdictions, we will apply for licenses as required by law to cover our planned services.
In view of the above, Bithemoth intends to operate as an electronic money institution. For us to run a multi-faceted fintech platform, we will obtain multiple licenses from different jurisdictions with a view to remaining compliant with laws and regulations. Whenever we plan to expand our services to other jurisdictions, we will apply for licenses as required by law to cover our planned services.
Ecosystem
In a bid to operate as a link between traditional finance and the
digital asset economy, Bithemoth platform has come up with a simple and
conventionally adoptive system. Three major aspects of the digital
economy will be simplified by Bithemoth’s diverse ecosystem thus
presenting (i) an exchange, (ii) a trading platform, and (iii) a
complete ICO Incubator.
A wide range of services that were absent in a single system will be made available as Bithemoth works alongside her partners. New traders can invest in cryptocurrencies with a few clicks on the exchange using our adjustable and user-free environment while, professional investors will conveniently use our trading platform that has been designed with a vigorous tool-set. Bithemoth ecosystem envisions her ability to provide companies with an ICO Incubator that is ready to use and that which supports project development thus, enhancing growth and collaboration.
Bithemoth hopes to offer payment processes for both cryptocurrencies and fiat that are fast and secure by establishing banking relationships that are stable. Bithemoth also plans on implementing and adding to the already existing features, a unique system of rewards for BHM purchasers, and carefully designed custom trading solutions to meet the needs of the digital asset economy.
A wide range of services that were absent in a single system will be made available as Bithemoth works alongside her partners. New traders can invest in cryptocurrencies with a few clicks on the exchange using our adjustable and user-free environment while, professional investors will conveniently use our trading platform that has been designed with a vigorous tool-set. Bithemoth ecosystem envisions her ability to provide companies with an ICO Incubator that is ready to use and that which supports project development thus, enhancing growth and collaboration.
Bithemoth hopes to offer payment processes for both cryptocurrencies and fiat that are fast and secure by establishing banking relationships that are stable. Bithemoth also plans on implementing and adding to the already existing features, a unique system of rewards for BHM purchasers, and carefully designed custom trading solutions to meet the needs of the digital asset economy.
Direct Payment Process – Cryptocurrency and Fiat Support
Through the securement of specific licenses, eMoney status, and
stable banking relationships, we are setting up the infrastructure for
direct payment processes that will allow the conversion of fiat to
cryptocurrency. Both direct Bithemoth exchange clients and third-party
clients such as external companies will have access to this feature and
can utilize it as a means of entering the cryptocurrency market.
Trading GUI
Clients can use the matching engine to send for both standard and
non-standard order types like Limits, Stops, Markets, Limit-Stop Orders
and OCO (One Cancels Others). Using this system, one can also have
access to different TIF (Time in Force) options like IOC (Immediate or
Cancel), GTC (Good till Cancelled) and FOK (Fill or Kill). A
professional grade HTML5 library will enable charting, such that users
can customize their layout with a few clients, also they can with ease
add multiple periods of time and indicators or price studies. Based on
pre-calculated risk to reward settings, clients can use a simple drag
and drop interface to place stop and limit orders. From the chart, one
click trading will be available to simplify the order enter process and
to reduce latency for higher frequency traders. Also, a client will be
able to see a graphical representation of their account activity as
historical trades. Both filled and pending orders can be plotted on the
chart. The design of this platform is such that both a web browser and
our own Bithemoth-branded iOS and Android Apps can have access.
Exchange Fee Structure
We plan that any client or taker on the exchange who places orders
will pay a commission on all executed orders beginning with a MAXIMUM of
0.10%.
We are also offering free trades for a limited time to users that hold over 100 units of BHM. After this period expires holders of BHM can use it to pay for trading fees at a discount of 50%.
There will be no fee for deposits into our exchange. Minimal to zero fees will be charged for withdrawals depending on the factors involved, such as network fees and other cost inducing processes.
We are also offering free trades for a limited time to users that hold over 100 units of BHM. After this period expires holders of BHM can use it to pay for trading fees at a discount of 50%.
There will be no fee for deposits into our exchange. Minimal to zero fees will be charged for withdrawals depending on the factors involved, such as network fees and other cost inducing processes.
Ecosystem Growth
At Bithemoth, we believe that client enthusiasm, participation and
retention can be increased by engaging them on the platform through
added opportunities to earn. This will allow for more liquidity within
the engine thereby keeping spread low and generating higher overall
volumes. We plan on rewarding users for participation in BHM and as the
platform develops, the scope of reward activities should change and
grow. Upon the release of the Bithemoth platform, users will be rewarded
for simply signing up on the platform and creating a wallet, referring
friends to the platform, using the exchange for the first time, and
completing user feeder forms which will help the team to continuously
improve on the platform.
Decentralization and Atomic Pair
Since assets are often held by the exchange on behalf of its client
base, cryptocurrency exchanges are generally “semi-centralized.” The
move to completely decentralize the exchange mechanism has begun and
Bithemoth is directing a proactive approach towards this technology. The
team behind Bithemoth sees technology as Cosmos, Polkadot and Aion
approaching and understands that going forward, cross chain
communication and atomic swaps will be extremely significant. Bithemoth
hopes to use time locked smart contracts without third party involvement
to complete the transaction to offer atomic swaps like “peer-2-peer
secure exchanges.” The smart contract will serve as a timed escrow so
that in the event that one party defaults in the transaction, both
parties would be protected. This exchange mechanism is designed such
that it will carry nearly zero fees from our side as this will be for
clients who are trading smaller volumes and those that do not require
immediate execution.
BITHEMOTH FUNDAMENTALS OVERVIEW
ICO Incubator
Giving vetted ICOs access to transparent and secure funding rounds is
Bithemoth’s aim in creating a powerful turnkey ICO incubator. The team
of senior engineers at Bithemoth will formally examine all aspects of
token sale proposals including idea novelty, project feasibility, legal
compliance and financial justification. The approved projects will have
access to Bithemoth’s complete ICO incubator system and a dedicated
support team. This will provide a base for blockchain and tech start-ups
to grow off of and launch their business. This will also provide our
users with special opportunities to have early access to invest in
promising new projects.
Companies in our incubator will be able to issue tokens and ICO contracts using input parameters through our proposed system. Any token issued through Bithemoth will be liquid and tradable on the Bithemoth exchange using the token sale. Automatic smart contract mechanisms that are capable of creating smart contracts and deploying them on the NEO, NEM and Ethereum blockchains will also be offered on the ICO incubator.
Companies in our incubator will be able to issue tokens and ICO contracts using input parameters through our proposed system. Any token issued through Bithemoth will be liquid and tradable on the Bithemoth exchange using the token sale. Automatic smart contract mechanisms that are capable of creating smart contracts and deploying them on the NEO, NEM and Ethereum blockchains will also be offered on the ICO incubator.
Easy DAO Registration
Bithemoth’s ecosystem aims to allow projects to register and use
their business as a specialized smart contract or Mosaic on the NEO, NEM
or Ethereum blockchain. This will allow users to without the explicit
need of a “paper corporation” formalize their business transactions.
Fiat and Cryptocurrency Deposits
We are expectant that Bithemoth’s planned infrastructure and banking
relationships will enable cryptocurrency and fiat deposit on one
platform. We intend that users will be able to make deposits using a
wide range of channels like local bank deposit, E-wallet, credit card,
SWIFT transfer, SEPA transfer and multiple cryptocurrencies.
Bithemoth Exchange clients will be able to deposit and withdraw both fiat currencies and cryptocurrencies. Bithemoth will create a reliable, scalable and secure deposit and withdrawal system. The option to convert fiat currencies into cryptocurrencies, and vice-versa, in large quantities will be a game changer for the community and a gateway to reaching new highs.
Bithemoth Exchange clients will be able to deposit and withdraw both fiat currencies and cryptocurrencies. Bithemoth will create a reliable, scalable and secure deposit and withdrawal system. The option to convert fiat currencies into cryptocurrencies, and vice-versa, in large quantities will be a game changer for the community and a gateway to reaching new highs.
Smart Contracts
On the NEO, NEM and ETH blockchains, smart contracts and digital
tokens are easily issuable through Bithemoth’s planned system interface.
Upon the evolution of new blockchain innovations, there is potential to
integrate new platforms and features into Bithemoth’s ecosystem. Users
of smart contracts are provided with automated, low-fee transactions
which provide a higher level of security than relying on standard
localized databases. All smart contracts related to live trading will be
created or written post-trade to reduce latency. Subsequently, we will
explore writing all trade data in real time inside a distributed ledger
as blockchain technology becomes faster. With smart contracts, the
management of approved workflows between counter-parties, and the
calculation of trading settlement accounts with higher accuracy as
opposed to standard database technology becomes achievable.
Quick to Market
The Bithemoth ecosystem hopes to foster innovations through its
vetting process and token interface by providing the needed
infrastructure and tools for projects to get support, gather funds and
launch a stable platform. Following the token sale, tokens issued
through Bithemoth will be liquid and tradable immediately on the
exchange.
White Labeling Opportunities
Through our token sale platform, Bithemoth looks forward to creating
unique white labeling opportunities for enterprise clients. Clients will
be able to offer crypto and fiat payments to their own user-base and
token sale participants by white labeling our digital wallet and portal
set-up. Token users on Bithemoth will be able to create and customize
their own backend while taking advantage of tools such as easy token
issuance made available by our larger ecosystem architecture. Tokens
will be tradable immediately on the main exchange when initial token
sales ends with the provision of adding the token to one or more of our
curated ETCF baskets for more liquidity.
Bithemoth Coin (BHM)
Bithemoth Coin (BHM) will be the token coin that we will issue. There
will be a maximum amount of 200 000 000(two hundred million) coins that
will be created. We do not intend to increase it further. BHM is
modeled and will run using the Ethereum blockchain with ERC 20. This
will ensure the safety and security of the token in the long-term.
Allocation
Presale Schedule
ICO Schedule
Once our ICO commences, investors shall be invited to purchase BHM
tokens until the 90,000,000 tokens that we have set aside have been
sold. The purchasing schedule will work on an incremental basis that
will reward buyers that purchase BHM token during the early stages of
our ICO.
Investors that purchase BHM via our ICO will receive their tokens within and no later than 7 working days.
Investors that purchase BHM via our ICO will receive their tokens within and no later than 7 working days.
BHM Value
You will be able to utilize your BHM coins to pay for any fees on our
exchange platform. This will include exchange fees, withdrawal fees,
listing fees etc.
There will be specific discount incentives that we will be introduced for the initial promotion of BHM usage on our exchange; this will be effective immediately but limited to a period of 5-years.
There will be specific discount incentives that we will be introduced for the initial promotion of BHM usage on our exchange; this will be effective immediately but limited to a period of 5-years.
Repurchasing Plan
Quarterly, our BHM team will use a portion of ours profits to
exercise a buy back on BHM tokens that will be destroyed. This will
continue until 50% of the entire BHM coin amount has been destroyed,
leaving (100 000 000) coins in circulation.
Long Term Stability of BHM
Several ERC20 tokens spend a lot of time emphasizing on speculation
instead of dwelling on utility. Bithemoth will not encourage this
practice. For many ERC20 token, the prices depend on demand and supply.
In order for users to obtain coin, Bithemoth will help reduce volatility
by creating a three step approach as detailed below;
►The creation of a token buyback reserve which will be funded by 20%
of Bithemoth’s profit. We intend to use this reserve to stabilize the
our coin as needed. Depending on the underlying demand, coin bought back
by Bithemoth will be sold with a view to facilitating liquidity on both
sides of buying and selling. It is pertinent to mention here that the
net profit is not the sum collected through the pre-token or token sale,
rather it is the net operating profit when we fully launch our
platform. The use of the net profit is at our discretion. Users do not
have the right to decide how the token buyback will be reserve. It is
also subject to financial regulations and legal requirements. It is
pretty difficult for us to determine the size of this reserve before
launching the initial token sale. Our projections are based on
capitalization, market size, and speculation as a result of data from
competitors as well as general market research. In view of the above, we
will focus the first year to establish the brand as well as fostering
growth. Then, proceed from there to develop the company and all of its
tech associated branches and platforms.
►We plan that all fees accruable to Bithemoth through our investment vehicle, ICO related services, on our exchange, and through the ICO Incubator gateway shall be paid in BHM.
►We plan that all fees accruable to Bithemoth through our investment vehicle, ICO related services, on our exchange, and through the ICO Incubator gateway shall be paid in BHM.
◈Due to Bithemoth’s services, the demand of BHM will definitely rise. The rise in demand will cause the value of BHM to increase. Whenever a service is paid for on our platform, whether it is BTC, USD, ETH, or other currencies, an equivalent amount of BHM shall be paid via our exchange to take care of the fees. Hence, our exchange platform will always be active. Whenever there are no sell orders to support conversions, our liquidity reserve’s resting BHM will be deployed at a price equivalent to the market value.
◈For us to create a value proposition that will stand the taste of time, our plan is to burn 1%, 5%, 10%, and 33% of each fee payment. As the platform grows, the BHM availability will decrease, resulting into a reduction in supply and thereby helping the BHM to be competitive.
►We plan that token holders will be offered discounts subject to
their total BHM holdings. What this means is that, the more BHM they
hold, they more discount they will enjoy. This incentive will spur users
to buy and hold more BHM.
◈Note: The discount mentioned above is part and partial to the discount offered during BHM pre-sale and main sale.
Bonus Structure for Pre-Token Sale and Token Sale Participants
Pre-sale token participants will receive tiered discounts on the
price of BHM depending on entry time. The discount will reduce as more
tokens are sold. The practice with other exchanges is that they offer
larger discounts to private investors even before the ICO pre-sale and
main sale goes live. Bithemoth is applying a paradigm shift in this
regard by offering the discount to everybody on its platform rather than
to some select private investors.
► We strive to create a token buyback reserve that would be funded with 20% of the net revenues accruable to us with a view to adding liquidity to bolster the market.
►It is our intention that investors will have the opportunity to receive invitations and enjoy exclusive opportunity during our future token sales.
► We strive to create a token buyback reserve that would be funded with 20% of the net revenues accruable to us with a view to adding liquidity to bolster the market.
►It is our intention that investors will have the opportunity to receive invitations and enjoy exclusive opportunity during our future token sales.
Risk Disclaimer
For us to move our platform into its operational stage, 5 million EUR, which is our minimum sale target, must be achieved.
Cryptocurrency investors should be aware that there are inherent risks associated with any developing industry. At Bithemoth, we strive to minimize these risks through proactive measures and utilizing key channels of support.
Cryptocurrency investors should be aware that there are inherent risks associated with any developing industry. At Bithemoth, we strive to minimize these risks through proactive measures and utilizing key channels of support.
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