Platform Bithemoth

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 cryptocurrencies 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.

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.

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.

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.

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.

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

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.

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.

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