BRONIX Review By EliteClub — Russia’s Largest Investment Pool
With more and more blockchain projects coming up and developing their own cryptocurrencies with a predefined use and also allowing transfer of ownership there has been an unprecedented increase in the volume of trade that takes place on popular crypto exchanges. While most exchange and trading platforms have not only proven to be vulnerable to scams and security breach but they are also lacking in their capacity to support seamless and high volume transactions without compromising the security. The hidden costs and charges involved in the process is also a concern as that makes it more expensive, hence, less profitable for traders.
Bronix platform is developed as a complete ecosystem that addresses these major problems facing the Crypto exchanges today. Their in-depth research in identifying the problems coupled with the strong technical and innovative solution makes Bronix an exchange platform ahead of its time. This is what compels attention and so here’s our detailed Bronix ICO review and analysis where we explore the features and functions of Bronix exchange, the ICO details, and talk about all that you should know before participating in Bronix ICO.
Bronix — A Sophisticated and advanced trading platform
Developing a decentralized crypto trading platform Bronix aims at removing the challenges and solving the pertinent issues that traders face while trading their digital currencies on crypto exchanges. “BRONIX is a new-age hybrid cryptocurrency trading platform that allows users to buy and sell cryptocurrencies as multiple financial products such as margins and the world’s first-ever derivatives trading with cryptocurrencies.” Bronix ecosystem offers both a decentralized exchange and a centralized exchange allowing the traders total flexibility to choose depending on their requirements. Moreover, the platform offers a range of features including Bronix derivatives trading, Options trading, Social trading, and much more to promote and facilitate crypto trading.
Offering Both Decentralized and Centralized Solutions
Bronix will support trading of cryptocurrencies by offering a decentralized solution wherein users can exchange currencies in the denomination of Bronix’s BRNX tokens. While the users will incur a small transaction fee they can carry out the transactions by remaining anonymous and irrespective of their geographical location. This means the decentralized exchange will allow users to make transactions even from countries where the status of cryptocurrencies is uncertain or bleak. The centralized solution will have more features and functionality but it remains exclusive to the countries that have a favorable approach to cryptocurrencies. On their decentralized exchange — “users can take a position on any traded cryptocurrency through BRNX tokens up to 2.5 times the fund available in the user’s BRONIX wallet. This position has a built-in stop-loss at 20% loss to prevent complete erosion of funds and user distress.” Moreover, identifying one of the biggest problems that could be a nightmare for any crypto trader, Bronix platform has streamlined solutions for issues leading to an acute liquidity crunch. They have addressed this problem by implementing atomic swaps and API integration of all major cryptocurrency exchanges in the world.
Facilitating Derivatives Trading: Bronix exclusive features
Bronix offers some exclusive user-friendly features both for speculation based forwards/future market allowing users to trade on the prospects of future price of the desired cryptocurrency and Options Trading allowing users to pay a premium to gain the ‘option’ of buying or selling a cryptocurrency at a formula derived strike price. Detailing their forward/future trading Bronix whitepaper explains: “BRONIX allows users to purchase cryptocurrencies in lots at the market-determined price. A novelty of the BRONIX platform is that the Forwards/Futures will not be limited by the rollover limit of 1 month. Instead, the trader will be able to hold his/her position for as long as they desire or when the value of their position decreases by 20%.
BRONIX allows traders access to 0.8–2 times the value of the deposits over and above the deposits to trade in futures/forwards.” Further, with their Options Trading feature, they allow users to buy the option to buy (call option), which enables them to either buy the cryptocurrency at the strike price or forego it by paying the premium as fees. On the BRONIX platform, the user can enter into a position either by call option or by put option (option to sell). This provides the users with enhanced flexibility while trading and also protects them against Market Volatility.
Innovative Bronix Social Trading: Benefit from trade trails of “Trading Geniuses”
On Bronix Platform the members will also be able to follow the trades of trading geniuses. Also, it is open to all feature where anyone can register with Bronix exchange as a trading genius. “A registered user’s trades on the BRONIX trading platform will be captured and ranked on a leaderboard which will be updated in real-time. This leaderboard will allow the other users to view the trades of the trading geniuses and choose any one of them based on their preferences and choice of cryptocurrency traded.” While to automatically link their trades to a registered genius and his trade, users will have to pay a premium and that would be shared to incentivize the registered traders. While average and new traders can benefit by following seasoned traders this feature brings a great opportunity to trading geniuses.
Fast and Secure: Instant trading with enhanced security
While the platform offers a wide variety of features to benefit from it also allows seamless and fast transaction processing. The currencies can be traded and transferred to any location within seconds. The transactions are also protected against fraud with the decentralized and public database enabling users to verify the legitimate transactions. Moreover, the transactions carried out on the platform will be strictly confidential and the users can enjoy anonymity without having to share their identity. Also, there are no hidden charges as Bronix removes the role or interference of any intermediaries.
Bronix team; what do we know about them?
Bronix Team is a balanced mix of experience and expertise. Their Ceo, Alexander Bayov has a vast pool of experience with Project origination & Project management, including financial analysis, preparation and advisory (structuring) of financial and credit operations. Alexander was the Head of Strategy at Wealthman group and the leading specialist of the Trade Representation of the Russian Government in Lithuania, where he oversaw the various mergers and acquisitions of banks located in different geographies. He is a veteran player of the banking sector and advised global banks as a consultant at Ernst & Young.
Bronix Founder Ranjit is an ace crypto-investor who comes from a background of real estate financing. As an MBA from Flinders, Australia, he has designed the Business Model for BRONIX and made it a profitable venture.
Chief Technical Officer, Navdeep Garg, is a thought leader and practitioner in the Financial Services and FinTech. He is a serial fintech entrepreneur with a solid background in programming and coding. He co-founded Revinfotech 11 years ago to provide trading & investment advice to finance companies and assisted consulting companies such as KPMG give shape to their competitor and transaction analysis. Spearheading their marketing strategy is their CMO, Lalit Bansal who brings marketing acumen to the team and enhances the value of the skillsets of the other team members and getting them to leverage their skills to the best of their abilitites. As the CEO of Revinfotech, he has built several business units and delivery teams that provide strategic consulting in the blockchain space, web development domain, and capital markets.
Bronix ICO Details
The total number of Bronix BRNX tokens to be created is fixed at 250 million tokens. The number of tokens to be made available for public sale is capped at 175 million which is 70% of the total tokens to be created. 30% of the remaining tokens are reserved for Advisors, Marketing, the Bronix Team and their bounty program:
The entire Bronix Token sale process is a two-month event as their pre-ICo token sale is already up and running. The ongoing pre-ICO will continue till 22nd July. While the tokens during the pre-sale are available at a discounted price of $0.35 per token the prices will be gradually scaled during the main ICO token sales. Also, the participants in the pre-ICO token sale get a discount by up to 35%.
The Main Public sale will be carried out in 6 stages. The price of the tokens for public sale is fixed at $0.35 but starting with a lower effective price the prices will gradually scale up with each phase.
The Bronix ICO public sale will be open from 26th of July to 26 August. The users will get Bonus with effective tokens in each phase which means there are considerable benefits for early investors.
Bronix Advantages
- Tailored to suit the user preferences — Offering both a centralized and decentralized solution the platform offers a one-step solution to users of all geographical location irrespective of the government’s attitude towards cryptocurrencies and trading in their respective countries. The centralized solution offers advanced features facilitating crypto trading.
- No hidden charges — Bronix completely siphons out the intermediaries or any such role or involvement of a third party and that makes it an exchange that can promise its members a no hidden cost policy.
- A host of features for better user experience — As an advanced crypto trading platform, Bronix has some exclusive and innovative features as discussed above. This makes them stand out of the crown and has all the potentials to attract a strong and growing user base.
- Benefits for early investors — Bronix offers a host of benefits to early investors starting from their ongoing ICO Pre-sale up to the final phase of their public sale. Early investors can gain up to 35% and that makes it a lucrative option as BRNX tokens have a strong and defined use on the platform and can be traded seamlessly.
Concerns
Managing the transaction volume — While cryptocurrencies are growing in numbers more and more will get into circulation. This growing volume and increasing number of cryptocurrencies will impact the functionality of the exchange and while the platform features are endearing they have to be technologically scalable as well.
Reaching out to the community — The project is indeed interesting and has something to offer to the crypto community to benefit from. However, their reach to the user base has been sluggish and that has to be taken care of.
The verdict
The growing number of cryptocurrencies is not hidden and new blockchain projects are making headlines all across the world. As the number of token holders increases, it also means an increase in the alternative currency trade. The current infrastructure supporting the trade of cryptocurrencies is certainly not enough and hence, evolving. Al this means there’s a growing demand and need for innovative and secure exchanges that make crypto trading a seamless experience for all seasoned and new traders. With defined functionality, enhanced security, cost-effective solutions, removing intermediaries, and offering a host of opportunities and features Bronix platform is a pioneer in hybrid crypto exchanges. Participating in Bronix ICOcan be helpful if you’re into crypto trading or you’re looking to for more fluid or exchangeable cryptocurrency that can offer quick returns. For in the long run we’re all dead, says John Keynes, one of the most famous economists of the 20th century.
This review was published originally published here.
