Time flies, and BiKi has been launched for more than a year now. Within a year, BiKi has more than 2 million registered users worldwide and 200,000 daily users, becoming a frontrunner amongst emerging top tier exchanges. Recently, the crypto market has started to warm up, and in turn, user transaction volumes have gradually increased, especially for Bitcoin, Ethereum and Ripple. To reduce user transaction costs and improve user experience, BiKi will officially launch a new Global User System.
According to the official announcement, BiKi will officially implement the global user system with tiered fees at 10:00 (GMT + 8) on February 10, 2020. The first phase of the current launch will support currency trading and leveraged trading. In the future, $BIKI Token (our platform token) will be used for determining user level and as the core value carrier for tiered fees. Discounts for handling fees can be enjoyed when using BIKI.
Ⅰ. User system and tieredfee system
The BiKi tiered fee system on the cryptocurrency exchange is divided into two categories: ordinary users and professional users. Ordinary users only need to meet the BIKI position requirements, while professional users need to meet both BIKI position and transaction volume requirements.
The marker base rate of ordinary users on our cryptocurrency exchange is 0.150% and the taker base rate is 0.150%. It is divided into 7 levels according to the different BIKI positions, and the highest level can enjoy a 20% discount on the base rate. At the same time, users can also use BIKI to deduct the handling fee, and enjoy 25% off again, the maximum cumulative discount is 40% off.
The Level 1 maker rate for professional users on BiKi cryptocurrency exchange is 0.08%, and the basic rate for taker is 0.095%. It is divided into 7 levels according to the difference in BIKI’s position and transaction volume. The highest level can enjoy a discount of 80% of the ordinary user maker rate and a discount of 57% for the taker rate. At the same time, users can also use BIKI to deduct the handling fee and enjoy 25% off again, with a maximum cumulative discount of 85%.
Explanation of related terms:
Maker (Pending Order): An order is placed at a specified price and is not immediately traded with other orders in the order book. Instead, it enters the order list and waits for the counterparty’s order.
Taker: The act of placing an order at a specified price (a sell order with the same price also exists in the order book) and immediately transacting with other orders in the order book, mostly at market prices.
Ⅱ. The user system empowers BiKi
BiKi’s new user system has formed full user coverage from ordinary users to VIPs at all levels. Through the tiered fee system and the BiKi fee deduction model, transaction costs for trading Bitcoin, Ethereum, Ripple and more have been significantly reduced and the overall transaction experience has been improved. In addition, the new user system of BiKi has several advantages and significance.
1. A more efficient trading experience
The implementation of the BiKi user system has greatly reduced transaction costs, which will attract more investors and stimulate an increase in the trading volume of the platform. It will increase the liquidity of the BiKi platform and reduce the spreads. It will provide BiKi users with a more efficient trading environment.
2. Improve user retention and platform value
For users, a good user system helps guide users to use different product features of BiKi, allow users to feel a sense of achievement, and provide more and better privileges, while benefitting from the platform. At the same time, the VIP classification system is also preparing for subsequent refined operations.
BiKi’s new user system will also lead users to change from novice to seed users, establish personal relationships with users, and ultimately achieve user retention and platform value increment, thereby achieving a win-win situation for the platform and users.
3. Implement the strategic plan for BIKI empowerment
The tiered fee system and BiKi fee deduction model in the new BiKi user system have added new application scenarios for BIKI, which will effectively encourage users to hold BIKI in addition to major cryptocurrencies such as Bitcoin, Ethereum or Ripple. In addition to sharing the dividends of the BiKi platform, BIKI also reduces users’ transaction fees. In addition, as mentioned the BiKi fee deduction model, using BIKI can reduce handling fees. It is a new buyback model for BIKI in terms of mechanic design, which will further stimulate deflation.
Ⅲ. BiKi strives to be the front runner of new exchanges
BiKi is the fourth online user system exchange after Huobi, OKEX, and Binance, which indicates that BiKi’s user volume is similar to top-tier cryptocurrency exchange platforms. As BiKi user volume increases, the BiKi user system will continue to empower the platform and improve the applications of BiKi. In the next half of the year, income from important transactions such as leveraged trading and contract trading will be added to the buyback model to increase the value of BIKI.
Under the guidance of the new user system, BiKi will build an cryptocurrency exchange ecosystem centered on the interests of users, increase user retention and platform value, and finally complete a closed business loop and form competitive barriers.
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