Bcnex - A New Exchange With Cutting-edge User Experience
Bcnex is a cutting edge exchange for cryptocurrency assets. It provides all the newest functionalities, checkmarks and features a top crypto exchange must have. The project is run by a Vietnamese team and the parent company is Bcnex Holdings, Inc.
Bcnex comes to the world in a period of revival in the crypto sector. It comes after we witnessed the failures, mistakes and flaws of the first crypto exchanges and what I like the most in Bcnex is that they combine all the good practices that endured the test of time over the last few years in the exchange business.
They already have a MVP product released that can be tested. It is rare for an ICO to have the product ready, while still fundraising. And it is even better, that the Bcnex exchange in test mode is already looking much better than a lot of working exchanges on the market right now. Margin trading and futures trading is planned in the roadmap for the future. The throne of Binance and BitMex seems to be in danger.
The website provides the simplicity needed garnered together with the trendy innovative design, that is in line with the newness of the crypto technology. The design, UX and graphics are highly professional. They completely fit the branding and communicate the idea of Bcnex Exchange in a compelling way.
The whitepaper is more comprehensive than the website and goes deeper in detail about the problems in the trading industry and the solutions that Bcnex provides.
The marketing and branding of the project is simply outstanding. The communication with the community is the best I have seen, done by an ICO company. Everything is thoroughly explained in real time with quick answers, pinned messages, faq pages. All of this shows a great responsibility and care towards the community of users and investors.
The Bcnex blog is updated regularly and frequently with the new developments and headline news. The posts are very educational and thematic around the exchange business.
Bcnex has more than 6 000 facebook followers, 5 800 twitter followers, 7 000 telegram members. The activity in these channels looks real and genuine.
Bcnex has good reputation and general perception. The rating sites have been generous with ICO Bench giving 4.1 score, ICO Marks 9.1 and CoinCheckup 4.3.
The team consists of 8 core team members and 4 advisors. All of them are verifiable on Facebook and LinkedIn. The advisors are also angel investors in the project. Seeing that they are contributing own funds is really promising. Especially, given the fact how dozens of ICOs abused the advisor role by just listing some names for prestige, who didn’t actually do anything for the project and got hefty advisory payouts from the token budget.
They seem experienced in their fields. The team balance is slightly skewed towards business, sales and marketing people at the expense of blockchain developers. This makes sense, because coding an exchange project is not so tech heavy as other ICOs, such as the blockchain infrastructural ones.
The hardcap is $30M, which is a reasonable capital for an exchange. The price range of the coin in the different rounds of sale is not very broad 0.15$-0.45$. These are reasonable discounts that will prevent whaling and speculation.
A strict KYC procedure is required, which is a good sign that the team takes the legal considerations seriously.
The tokens for the team are with 4-year vesting period. This is a serious commitment to deliver the product and make it succeed in the long term.
All in all, the tokenomics look good.
The token utility is for commission reduction, which is a common business model in other exchanges like Binance, as well. Coin burn is also planned in order to drive the BCNX value higher.
At the time of writing, 38% of the Bcnex tokens has been sold, which amounts to more than $9M raised.
The competition in the trading and exchanges sector is severe. We are seeing hundreds of exchanges popping up, with few big players like Coinbase and Binance already establishing themselves as industry leaders. However, I think that the timing for Bcnex is perfect. The bear market washed out a lot of the bad exchanges, which were unable to provide liquidity and cover their costs in the year-long recession. They closed doors, ceased operations and now we have room for new entrants to the market. And with a likely new wave of crypto adoption, this means industry growth.
What makes Bcnex better than the other exchanges? It is the flawless user experience. The desing, UX and branding makes navigating the website and the exchange itself easy and pleasant. Light years away from the legacy (and some modern) crypto exchanges that can be understood only by tech geeks.
We are all hoping for mass adoption of cryptocurrencies. And in order for this to happen, we need products and exchanges just as Bcnex – simple to understand and easy to use. Even for a complete starter.
Bcnex is a platform and a service that definitely adds value to the crypto economy.
My Bitcointalk Username: CryptoAlphaStar