Bitmax Token (BTMX)
$1.1700 / $1.0800
What is Bitmax Token (BTMX)
BitMax Token (BTMX) is the utility token of BitMax crypto currency exchange platform. The token has multiple use cases and utilities on the exchange just like Binance’s Binance Coin (BNB) and Huobi’s Huobi Token (HT).
The crypto currency exchange has a 10 tier VIP transaction fee structure for its native utility token holders. Thanks to that model, BTMX holders benefit from lower fees on the exchange. Moreover, the BitMax is reportedly using token consumption model. Thus, the supply of the BTMX Token continues to decrease as the amount of BTMX token consumed increases when holders consume tokens to get different benefits such as membership upgrade related to a transaction fee, interest on a margin loan, airdrop, token release etc.
The total supply of the BTMX Token is around 760 million units. The BTMX is an Ethereum based ERC 20 token and BitMax has not reported any plans to build a blockchain.