BiKi X MATIC AMA Q&A

On 26 February 2020, BiKi conducted an AMA session with MATIC Network on MATIC’s Telegram.

Owing to the huge community support, we received an overwhelming engagement from the audience, asking numerous questions about BiKi and the team.

Today, we shall be answering these questions!

“The Matic Network team is always looking for ways to increase the global availability of the MATIC token and provide our community with more options for a great trading experience. With BiKi’s keen focus on security and user experience, our priorities are neatly aligned. We look forward to working with BiKi to offer the crypto community the option to trade MATIC on BiKi’s advanced and rapidly growing exchange.”

Sandeep Nailwal, COO & Co-founder – Matic Network
The BiKi Fast Loan is a service where you can pledge your digital currencies such as BTC, ETH and other popular currencies as collateral for USDT. This will come as welcome news for digital currency investors who might lack liquidity but do not want to miss out on a BTC skyrocketing moment that a Bitcoin halving or potential bull runs might trigger.

Core Advantages Of BiKi Fast Loan:

1. Multi-currency Pledging

BiKi Fast Loan currently only supports choice of pledge in BTC, ETH and EOS, with more currencies to be launched in the future.

2. Simple and Convenient Lending Process

– Select the type of pledge currency and enter the amount of USDT to be loaned.

– The system will auto-calculate the pledge amount required.

– BiKi Fast Loan works 24-7 and loans can be received within seconds.

– Pledged assets will be released upon full repayment of the USDT borrowed.

3. Lower Interest Rates

Interest rate is calculated daily at 0.04%. So how low is this interest rate? Suppose you borrowed 10,000 USDT, it would work out to just 4 USDT per day. With the impending halving of Bitcoin and the rise in value of the collateral currency, you might even see an increase in value when you redeem your assets.

5. Safe and Reliable

Fund security is of utmost importance to every user and is also a top priority for BiKi. BiKi’s transaction mechanism operates with high-level security and BiKi uses a completely offline multi-sig to store private keys. For Terms and Conditions:

Currently, there is no restriction on the loan tenure, but if the borrower fails to make active repayment, the loan will remain in an open status and the interest will continue to accumulate. Loan Amount Limit is a minimum 1000USDT per loan up to a maximum of 50W USDT.

The interest rates are determined by the platform’s operating costs and market conditions. The actual interest rate will be specified on the Fast Loan Page on BiKi.com (https://bikiuser.zendesk.com/hc/en-us/articles/360038151592-Operating-Guide-for-Lending).

After the loan application is successful, the interest will be paid to the platform once on the day of borrowing. The second interest will start to calculate from 00:00 on the next day and so (if the loan is successfully made at 23:59 on the day, interest will be paid once, and after 00:00 the next day, it will be included in the new day interest). The pledge rate is the ratio of the loan amount to the pledge amount. The platform sets a fixed pledge rate requirement according to the type of digital asset.
BiKi's customer support is 24/7 and we have an active customer service team that are constantly at hand to help answer any questions our issues have and troubleshoot issues.

We also direct all our users who need issues to be resolved to our BiKiEnglish Telegram https://t.me/BikiEnglish where we have our admins on hand to support

Similar to other projects or exchanges, admin support is free of charge, we are happy to help our users. No admin or “BiKi staff” will dm you for money in exchange for services.
Compared to traditional PoS mining, BiKi’s staking operation is relatively simple, users just need to hold digital currency in the BiKi account.

If a user chooses to lock its position, he or she just needs to select the “lock staking” option on the BiKi Mining Pool page.

The license system in the account can be directly used as the PoS basic resource through the authorization platform.

If the user selects the “HODL staking” option, not only will the service not lock the user’s digital certificate, the digital certificate can also be traded or replenished at any time. Simplicity and service are at the core of the user interface.

On top of that, while other platforms may charge a fee for the user’s pledge, the BiKi platform does not charge any fees and is thus beneficial for users.
The BiKi Global User System is a new user level system BiKi just implemented. It aims to provide benefits to users who trade on BiKi and hold $BIKI tokens.

Full benefits can be found here: http://blog.biki.com/biki-com-announcement-on-launch-of-global-user-system/
Our tech team is constantly looking at the security of the exchange and is vigilant round the clock to ensure the utmost safety and security of our users’ assets.

For example, for BiKi FastLoan, transaction mechanism operates with high-level security and BiKi uses a completely offline multi-sig to store private keys. This is one of the many precautions we take with user data.
We do have a BiKi app! Click here to download! https://www.biki.com/en_US/appDownload

The app can be run on Android and iOS, and there will be an upgrade soon, do watch out for that! https://www.biki.com/en_US/noticeInfo/2280
We do not shy away from regulation, we embrace it. We want to take crypto to the mainstream.

“The licensing application process will not be an easy one,” admits Ethan Ng, CEO of BiKi Exchange Southeast, which is based in Singapore and is planning to apply for a license via MAS.

He explained to Cointelegraph: “This will take time, and the expected drawbacks during this period of regulatory transition may include a gradual consistent sell and change of loyalties for users to a regulated crypto exchange. This will lead to lower liquidity for unregulated entities and their eventual closure or to seek regulatory licensing in a different jurisdiction. We should expect a period of correction in the Singapore digital tokens market as companies get adjusted to something as new as this.”

Nevertheless, Ethan Ng remains overall positive about the PSA, saying that the benefits outweigh the drawbacks and that it will stimulate the local ecosystem, “It will also attract more credible blockchain companies to be based and licensed in Singapore. This is a critical move towards a new era for the industry.”

Do read on more of our thoughts here! http://blog.biki.com/singapore-aml-framework-can-attract-crypto-businesses-not-chase-it-away/
Quoting BiKi.com SEA CEO Ethan, “If Central Bank Digital Currencies (CBDCs) are rolled out by 2020 in countries such as China, the European Union, etc, we can expect that bitcoin prices will go beyond the $20,000 price range,”

“This is likely because the roll out of CBDCs will increase adoption from mainstream players such as institutions, MNCs and SMEs in the market. These changes will have tangible impact on the everyday lives of the masses.”

Read more on our article here: https://www.ccn.com/bikis-ethan-ng-addresses-the-rise-of-central-bank-digital-currencies/
To find out more on our listing criteria, do visit: https://bikiuser.zendesk.com/hc/en-us/articles/360015040492-Apply-for-Listing

A listed project’s Supervisory Committee is established on the BiKi exchange with a purpose to monitor the status of projects, which includes: public opinion, project progress, project community progress, etc. As soon as a certain coin gets problems, the committee begins an investigation. As a result, only those projects that don`t contradict the rules for protecting the interests of users remain on the list of the exchange.
BiKi is an exchange that prioritises the growth of our projects and safety of users.

We use 100% of our transaction fees earned for the buyback of our platform token, BIKI, to improve its value for users.

We also use it for seasonal discounts for loyal customers so they can offset their trading fees, enjoy special subscription bonuses, and airdrops
We do have a platform token, $BIKI https://www.biki.com/en_US/trade/BIKI_USDT

The token represents the exchange's own rights and interests. Read more here: https://bikiuser.zendesk.com/hc/en-us/articles/360026985151-BiKiCoin-Token-BIKI-
We do intend to integrate various countries’ fiat currencies in the future. In fact, we have integrated VND and CNY in our exchange!
BiKi has a $BIKI token burning plan, you can read more about it here: https://bikiuser.zendesk.com/hc/en-us/articles/360026985151-BiKiCoin-Token-BIKI-

We aim to decrease the supply of $BIKI to increase its value for users in the future. Currently, we have burned more than 39.75% of the total supply.
BiKi has officially implement the Global User System with Tiered Fees which supports BIKI Deductible on February 10, 2020. Currently the first phase will support token trading and leverage trading. In the future, BIKI (platform token) will be the core value carrier to anchor user grade and tiered fees so that users can enjoy discount by using BIKI to deduct handling fees.

Ordinary User: Receive ratings and tiered fees based on holdings when a certain amount of BIKI is held in a user’s account.

1. The user may go to personal settings and use the available balance under “BIKI Discounted Handling Fees” to offset the handling fees. Assets in locked position are not allowed for offsetting the handling fees.

2. The user level is updated daily based on the holding position.

Pro User:

User may apply when their account meets both BIKI position and transaction volume requirements.

1. Professional users and other accounts with established authority are not entitled to the refund policy;

2. The tiered fees (ordinary and pro) does not support the handling fees for token withdrawal, leverage trading, OTC, contracts and other products for the time being;

3. BIKI does not support point cards but default handling fees payment and BIKI deductible only.
Our key growth markets in 2020 are Vietnam, South Korea, India, Japan, Russia, Thailand, Turkey and Israel.

We are recruiting talents to join our GM programme (https://blog.biki.com/biki-launches-biki-community-global-manager/) as part our of growth strategy - do check this out and refer your friends who are qualified and interested!
Stay tuned on our announcements page on BiKi.com and our Blog blog.biki.com

BiKi is an exchange that prioritises the growth of our projects and safety of users. Our key motivation is to serve our users, projects and partners better!
In our opinion, it is not too late. BiKi also has a different USP and approach as we look to provide users with a safe platform and more options for their trading needs.
The best we can - we prioritise safety on our platform first and foremost and also dedicated 247 customer support online for our users.
Yes the key revenue model is the same at BiKi.

However, BiKi is an exchange that prioritises the growth of our projects and safety of users. We use 100% of our transaction fees earned for the buyback of our platform token, BIKI, to improve its value for users. We also use it for seasonal discounts for loyal customers so they can offset their trading fees, enjoy special subscription bonuses, and airdrops.
BIKI is primarily used to pay for services and fees when trading on the exchange, using BIKI grants the trader discounts over using other payment methods on the exchange.

BIKI follows the 4 principles of “daily buyback, quarterly burn, tokens in locked position, steady deflation”. This motto guides the platform’s goal of bringing value to BIKI through a three-step process.

BiKi.com has pledged to use 100% of its platform fees to repurchase and burn the token until it decreases to a supply of 100 million from its initial token issuance of 1 billion. BiKi repurchases tokens on a daily basis and burns them quarterly.
BiKi's vision is to become a Blockchain Financial Center of the future.

In the last few months, we have launched several products such as leverage, staking, lending. We will also be launching contracts soon as well as a public financial chain. We will also be expanding and having more financial services and products in the near future. Do stay tuned!
At BiKi, we have a Listing Supervisory Committee with the purpose of monitoring the status of projects, which includes: public opinion, project progress, project community progress, etc.

As soon as a certain token exhibits signs of problems, the committee begins an investigation. As a result, only those projects that do not contradict the rules for protecting the interests of users remain on the list of the exchange
We work closely with our partners and projects to also organise community meet ups and other offline events and initiatives. These are great platforms and opportunities for us to meet with users who are new to the crypto and blockchain scene.
Currently BiKi users can easily purchase crypto on our platform with RMB (Chinese Yuan) and VND (Vietnam Dong) fiat currencies.

We have a strong pipeline for more fiat on-ramps opening soon - stay tuned for more information.

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