WHAT IS HiBTC?

HiBTC registered in the United Kingdom in early 2015. The exchange offers a set of the foremost common crypto to crypto trading pairs. the amount has been steady rising providing good liquidity and a narrowing bid ask unfold. Security is nice with its two-factor authentication and with an unblemished track record. Fees of trading vary looking towards whether or not the order is executed right away - i.e. removing liquidity or adding liquidity - if a trade is executed right away then the fee is 0.1% and if placed on the orderbook they receive a rebate.

It is Estimated that one of the leading Cryptocurrency exchanges has made over $300,000,000 in profit just in the first half of this year alone, billions of dollars’ worth of trades are conducted in various cryptocurrency exchanges every single day and this is something that happens every single day, but most of these exchanges tend to keep the profits generated from those exchanges for themselves, they don't give back to the community nor traders. Have you ever wished there was a Cryptocurrency exchange that distributes some of its profits to its community members and supporters? Have you ever wished there was a fast, secure and reliable way to earn rewards just by holding a particular token? If your answer to these questions is yes, then I have very good news for you, such an exchange does exist and its name is HiBTC. Before telling you why HiBTC decided to use such an operation model, it is imperative to tell you a little if this revolutionary exchange's history especially the Origin of its name.

Blockchain technology

Blockchain technology is here to establish a transparent and fair credit society. This is an aim shared by the founders of HiBTC Exchange and to show solidarity to this noble aim, they decided to name their platform Hi & BTC, like we all know, “Hi” means different things but it in general, it is used to show friendliness and support, so in other words, HiBTC name itself is engineered to show support to Bitcoin which is the first ever product of the Blockchain Technology. HiBTC is here to create a transparent and Fair Exchange Platform.

Mining Bitcoin

Every 8-15 minutes in the Bitcoin network, miners receive approximately 14 BTC. This includes 12.5 BTC rewards per unit and also about 1.5 BTC commissions, with a normal, filled block. Prior to the appearance of Bitcoin Cash, there were no significant alternative SHA256 coins to deal with their mining. Yes, we have different altcoins with slightly higher profitability, but all these coins are traded in small amounts and have very low liquidity. For the miner, mining coins with low liquidity will be very risky, as they will have to daily, or even weekly, the volume of such coins in a very short period of time. The sale of coins with low liquidity can be a big problem, since the act of a powerful sale will cause a price drop, sometimes to a considerable extent, which will also lead to a drop in the profitability of mining.

Profitability of the miner

In addition to profitability, the miners have 2 more main variables that need to be calculated and find out which of the coins brings more profit. In particular, for the miner, profitability consists of two components: price and complexity. Since BTC and BCH have the same Proof of Work function, as long as we know relative value and relative complexity, it is easy to calculate profitability. The profitability of BCH = Relative Cost / Relative Difficulty Thus, if 1 BCH = 0.13 BTC for the complexity of BCH mining is 10% of the complexity of BTC, Profitability = 0.13 / 0.1 = 1.3 => BCH is 30% more profitable in mining than BTC. Any indicator exceeding one means that Bcash is more profitable than Bitcoin, however, frankly, this is without considering commissions for transactions. higher cost, the higher the profitability. The higher the complexity, the lower the profitability. Bitcoin Cash (Bcash = BCH = BCC = Bitcoin Cash) When Bcash appeared on the scene on August 1, the complexity of its mining was the same as in Bitcoin. Since BCH is a hardcover BTC, it inherited many BTC features, including a rather high complexity. Since BCH was trading at such a low-cost relative to Bitcoin (at some point at 0.06 BTC), this made BCH mining unprofitable. Nevertheless, BCH has one advantage in comparison with other SHA256 altcomines - it is quite liquid. In contrast to the low-liquid SHA256 altcomines, there is a very large buyer market for BCH. In other words, there are many traders and ideological supporters who continue to buy BCH. From an economic point of view, profitability, not liquidity.

Transaction mining

HiBTC adopts the “transaction + token holding” mining model, under which 50% of the HiBTC Token (HIBT) is rewarded to users through transaction processing fee mining. Every time a user participates in a transaction with HiBTC, a transaction processing fee is generated, and then based on the HIBT held by the user and the market price of the processing fee paid by the user and the HIBT market price, HiBTC calculates the number of rewarded HIBT the user should receive according to a proportion and settle and release the HIBT once per hour. Wherein,

• Qi stands for the amount of process fee paid;

• Pi stands for the unit value of the process fee paid at the time it's paid;

• PHIBT stands for the unit value of the HIBT at the time the process fee is paid; and

• α% stands for the proportion of the process fee come back to the user enjoys at the time the process fee is paid

Number of mined HIBTs in one transaction by the user = (Qi × Pi ÷ PHIBT) × α%

HiBTC TOKEN

The HiBTC token is term ‘HIBT’.It has a total supply of 10 billion. This is what you will enjoy being a holder of the HiBTC trading platform. TOKENHiBTC will distribute bonuses to the HIBT token holder on a daily basis. This model will increase the assets of users and investors on the platform. Being a HIBT token holder, you will have autonomy to participate in the platform's decision-making. The HIBT holders will be the only ones to supervise and will also have the right to list the recommendation.