BitMax is a Singapore based crypto exchange launched in July 2018. The bitmax.iodomain name was created on the 23rd of February 2018.
The native digital cryptographically-secured utility token of BitMax.io (BTMX) is a major component of the ecosystem on BitMax.io, and is designed to be used solely as the primary token on the platform. BTMX will initially be issued by the Distributor as ERC-20 standard compliant digital tokens on the Ethereum blockchain.
BTMX is a non-refundable functional utility token which will be used as the unit of exchange between participants on BitMax.io. The goal of introducing BTMX is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on BitMax.io.
BTMX does not in any way represent any shareholding, participation, right, title, or interest in the Foundation, the Distributor its affiliates, or any other company, enterprise or undertaking, nor will BTMX entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in Singapore or any relevant jurisdiction. BTMX may only be utilised on BitMax.io, and ownership of BTMX carries no rights, express or implied, other than the right to use BTMX as a means to enable usage of and interaction within BitMax.io.
The exchange offers crypto-to-crypto trading of 36 coins in 72 pairs with three markets (BTC, USDT, and ETH). Following the latest trend, BitMax employs a transaction mining model providing 100% of trading fee reimbursement in BTMX (BitMax native token).