Bitmax is a cryptocurrency exchange platform that was founded in 2016 by George Cao. It is owned by the company BitMax.io, which is headquartered in Singapore. The platform allows users to trade various cryptocurrencies, offering features like margin trading and futures contracts. The name "Bitmax" is a combination of the words "Bitcoin" and "maximum," emphasizing the platform's focus on providing maximum trading options and liquidity.
Bitmax is a cryptocurrency exchange that offers several benefits compared to its direct competitors. One of the main advantages of using Bitmax is its robust security features. The platform utilizes a combination of multi-signature cold wallet storage and advanced encryption protocols to ensure the safety of user funds. Additionally, Bitmax implements strict KYC and AML procedures, providing a secure and compliant trading environment.
Another benefit of Bitmax is its wide range of supported cryptocurrencies. The platform offers a diverse selection of digital assets, allowing users to trade and invest in various coins and tokens. This comprehensive offering sets Bitmax apart from its direct competitors, as it provides users with more opportunities for portfolio diversification.
Bitmax also excels in terms of liquidity. The exchange has established partnerships with leading market makers, ensuring deep order books and competitive pricing for traders. This high liquidity enables seamless trading and reduces the risk of slippage.
Furthermore, Bitmax offers advanced trading features and tools. The platform provides users with access to professional trading interfaces, including margin trading and futures contracts. These features cater to experienced traders seeking more sophisticated trading strategies.
In terms of customer support, Bitmax stands out by providing timely and responsive assistance. The exchange offers a dedicated customer support team that is available 24/7 to address user inquiries and resolve any issues that may arise.
In summary, Bitmax offers key benefits such as robust security measures, a wide range of supported cryptocurrencies, high liquidity, advanced trading features, and responsive customer support. These advantages position Bitmax favorably among its direct competitors in the cryptocurrency exchange market.
Bitmax is a cryptocurrency exchange platform that enables users to buy, sell, and trade various digital assets. Underlying Bitmax's operations is the use of blockchain technology, specifically Ethereum. Ethereum is a decentralized blockchain platform that allows for the creation and execution of smart contracts.
Bitmax operates by connecting buyers and sellers on its platform, facilitating the exchange of cryptocurrencies. Users can deposit their digital assets into their Bitmax accounts and place orders based on the current market prices. The platform matches these buy and sell orders, ensuring fair and transparent transactions.
To ensure the accuracy and security of transactions, Bitmax utilizes blockchain oracles. These oracles act as external information providers, supplying verified data from outside the blockchain to smart contracts. This ensures that accurate and reliable information, such as current cryptocurrency prices, is used during the trading process.
Bitmax also incorporates various security measures to protect user funds and data. These include multi-factor authentication, encryption protocols, and cold storage of digital assets.
Overall, Bitmax leverages the power of Ethereum blockchain technology to provide a secure and efficient trading experience. The use of blockchain oracles ensures reliable data for smart contract execution, while robust security measures safeguard user assets.
DIA takes a comprehensive approach to fetching trade data from Bitmax, as well as other DeFi and NFT exchanges. The process varies depending on the type of exchange being referred to.
For centralized exchanges like Bitmax, DIA utilizes scrapers that directly collect trades from the exchange's databases using Rest APIs or WebSocket APIs. These scrapers have different data collection frequencies, ranging from 1 to 7 seconds, depending on the exchange. By retrieving trading data as close to the source as possible, DIA ensures high precision and real-time access to the data.
In the case of decentralized exchanges, such as Uniswap and PancakeSwap, DIA collects data from various blockchains by subscribing to swap events in liquidity pools. This allows DIA to retrieve trading data directly from the blockchain itself, enhancing the accuracy of the data. The frequency of data retrieval in decentralized exchanges may vary.
When it comes to NFT marketplaces, DIA captures live trading data by integrating with the smart contracts of these marketplaces. The retrieval period for NFT transactions ranges from 20 seconds to 1 minute, ensuring real-time coverage of all NFT transactions happening on the integrated marketplaces. By directly accessing the marketplaces' smart contracts, DIA ensures data precision and eliminates the reliance on unreliable bids and offer data.
DIA's comprehensive data management strategy, including the use of scrapers, blockchain subscriptions, and smart contract integration, allows them to provide highly accurate and customizable price feeds across various types of exchanges.
DIA utilizes a two-step process to compute trade data from Bitmax and build price feed oracles for different types of exchanges, such as DeFi or NFT.
For DeFi exchanges, the process begins with data cleaning and outlier detection. This step ensures that trades with prices significantly deviating from the current market price are excluded. This is important to avoid building a feed using data that is away from the median. Outliers are detected and removed using an Interquartile Range (IR) filter. Trades falling into the first and last quartiles are filtered out, and only trades falling into the "middle" quartiles are used for further processing.
Once the data is cleaned, DIA applies price determination methodologies to compute the final price. One example is the Volume Weighted Average Price (VWAP), which takes into account the different volumes of trades. All trades from the queried time range are collected and weighted by their volume to arrive at a single USD price value. Another example is the Moving Average with Interquartile Range Filter (MAIR), where trades are ordered by timestamp and weighted against the volume for each data point to determine the final price.
For NFT exchanges, the process is different. To determine the floor price of an NFT collection, the on-chain trade data is processed in two steps. Firstly, the data goes through cleansing filters to exclude market outliers and manipulation techniques. Secondly, a pricing methodology is applied to determine the final price point.
The simplest methodology is the Floor Price, which provides the lowest sale price of an NFT collection recorded on the blockchain during a given time window. However, this methodology can be manipulated by malicious market actors, so DIA offers advanced methodologies for pricing, such as the Moving Average of Floor Price. This methodology returns the moving average of a collection's floor price, taking into account customizable parameters like length of the average and size of the floor window. In addition, DIA applies an interquartile range outlier detection filter to filter out malicious behavior like wash trading.
DIA is also open to discussing custom filters and methodologies for specific use cases beyond the implemented techniques.
It is important to note that DIA's price feed allows users to access price data for various assets such as cryptocurrencies, NFTs, Liquid Staked Tokens (LSTs), and more.
Instead of distributing pre-calculated data feeds, DIA covers the whole data journey from individual trade collection, and computation to the last mile of the feed delivery.