Please sign in to your account or create an account to start trading. The old centralized exchange Bgogo.com will stop trading before
August 31, 2021. All users shall withdraw their assets from centralized
exchange to their only wallets, and connect to Gogoswap to use and feel
the revolutionary changes brought by the decentralized exchange. The founding generation of supernodes are selected from leading cryptocurrency institutions across the globe. Playing a key role in the Bgogo ecosystem, each supernode is granted the “One Vote, One Listing” right as well as the benefit of “20% Per-Trade Commission” over lifetime.
- Moreover, BGG/USDT price performance looks extraneous and unnatural.
- Moreover, , BTC/USDT pair liquidity was lately on-and-off from less than 1 BTC to 1.5k BTC per hour while ETH/USDT and BGG/USDT maintained stable trade volume for over two weeks.
- Every time an order is made on the exchange, you will be charged a fee by the exchange.
- The BGG/BTC 5-minute chart demonstrates volatile price performance, including periods of steady price adjacent to wild swings of up to 20% within 5 minutes compared to unnaturally stable trade volume (see Fig. 19).
- The book, positioned just below the chart, allows users to compare prices and bids.
A number of BGG tokens equivalent to 105% of the trading fee will be returned to user in only 30 minutes after the trade. Bgogo reserves the right to make adjustments to the rebate rate as we grow, but we promise to maintain a minimum rebate of 100%. The price of BGG will be determined by the market price at the time when a trade is finalized. This crypto-asset platform serves the crypto industry with no less than 35 markets that are active and various cryptocurrency pairs. It also appears to have its own token, BGG, which appears to be used as proof of stack (PoS) in terms of the trading system, according to the documentation. One of the key functions of this utility token is to act as a trade reward for users who are engaged in the community.
Cybersecurity comprises technologies, processes, and controls designed to protect systems, networks, and data from cyber-attacks. Effective cybersecurity for exchanges reduces the risk of cyber-attacks and protects the exchange’s customers (traders) from money thefts. For the cybersecurity assessment, we used the CER Cyber Security Score (CSS) calculation model and generated a result of 7.10 out of 10.00 (see Fig. 26). The next screenshot (Fig. 21) taken 2 minutes later shows the spread of 258 satoshis which is 86 times larger than 2 minutes earlier and is 12% of the price. Another 5-minute BTC/USDT chart (see Fig. 6) shows trade volume drop back to less than 1 BTC from about 120 BTC per 5 minutes. Such abrupt ups and downs in volume look as if someone is turning it on and off, that indicates synthetic trading activity.
One other noteworthy feature is the existence of a “Ecosystem of VIP services” on the Bgogo platform. To be considered a VIP, a minimum amount of 3 million tokens-BBG (the exchange’s proprietary tokens) must be in your possession. According to reports, as a VIP member, you are entitled to additional advantages https://cryptolisting.org/ such as enhanced customer service and gifts. Trading on the internet has grown in popularity significantly over the years. It enables traders to conduct business from the comfort of their own homes through the use of mobile devices. The introduction of the Internet marked the beginning of everything.
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The most apparent sign of swindling trade volume is its unjustified stability and inconsistency with price moves, which is the case for most of the exchange’s pairs. BGG is the token issued by Bgogo platform which is the proof of stake for the trading infrastructure. The upper limit amount of BGG is 10 billion without additional public offering. Also, under the exclusive “self-governance” mode, each supernode has the full discretion to list one cryptocurrency.
Identity fraud is one of the most severe problems that KYC is attempting to address through its compliance program. The provision of valid identification documentation in order to establish your legal identity is the foundation of KYC. Previously, it was possible to open bank accounts using forged documents or misappropriated identity proofs, but this is no longer the case.
Because Bgogo exchange refuses to acknowledge any other form of payment other than cryptocurrencies as a deposit method, new cryptocurrency investors are somewhat constrained from trading on this platform. If you consider yourself a new cryptocurrency investor and wish to begin trading on this platform, you will first need to purchase cryptocurrency on another exchange and then deposit it on this exchange as a further step. A large number of traders place their bets on this market in the hope of making money. A number of traders are already reaping substantial profits from this market, and you could do the same if you are interested. The first step would be to identify a suitable exchange platform that meets your requirements as regards functionality. This is a review of Bgogo exchange, and it contains everything you need to know.
Bgogo Token: The number of addresses that are profiting on their positions at current price exchanges
Rebates will be finalized and shall appear in the user’s balance within 30 minutes. An even more significant element that many traders consider when selecting a trading platform is the quality of customer service and support provided by the exchange. As a starting point, it should be noted that trading in the cryptocurrency market is a challenging task in and of itself. Therefore, when investing or trading, investors and traders require every bit of assistance they can get their hands on.
Bgogo: another exchange with synthetic liquidity
Bgogo, like a number of other exchanges, does not allow investors from the United States to trade on their platform. If you are a resident of the United States and are looking for a platform which is tailored to your needs, don’t be concerned. Bgogo is the world’s first self-governing digital asset platform based on supernodes. Users will receive trading fees in the form of BGG tokens equal to 50 percent of the platform’s total BGG token supply, which will be used to reward users. Liquidity analysis of Bgogo exchange revealed numerous irregularities in its trading activity. First of all, over 99% of the exchange’s total volume is made in the six most active pairs three of which have BGG as a base currency.
In all of them, there are periods of unnaturally stable volume inconsistent with price moves and lasting for days. The platform has gained a huge amount of traction among cryptocurrency traders since its inception. Its 24-hour trading volume was USD 565 million on the date of this review’s initial publication, which was March 27th of this year. As a result, Bgogo bgogo token was ranked in the top 20 of the list of the cryptocurrency exchanges with the highest 24-hour trading volumes. The volume of trade on the market during the 24-hour period had climbed to USD 634 million. On September 23, 2019, moving it up to position 27 on the list of exchanges with one of the highest 24-hour trading volumes, according to CoinMarketCap.
Prior to the establishment of the online trading market, traders had to deal with a variety of other issues. A number of restrictions were imposed by the government in order to prevent cross-border trade from occurring. First of all, you do not get up to 100% of all the trading fees you’ve incurred (certain restrictions do apply, but I’ll cover those in the following write-ups) paid back in BGG, you get at least 100%. Initially, this number will stand at 105%, and although it may later be lowered, it will not go below 100%.
In the next article, I’ll take a look at token metrics and how the ‘mining’ and buy-back and token-burn program will affect the pace at which the BGG’s circulating supply is presumed to increase. Luckily, Bgogo is among the most transparent ones, which makes reviewing it much easier. Bug bounty programs (or vulnerability rewards programs), are crowdsourcing initiatives that reward ethical hackers for discovering and reporting software bugs.
Even more fascinating was the fact that the trades worth millions of BBG were priced just inside the spread made of orders less than 1 BGG. It didn’t matter if the spread was 7.5% (62 x 10-6USD) (see Fig. 16) or 1.6% (13 x 10-6USD) (see Fig. 17) because all trades occurred between bids and asks. Examination of ETH/USDT orderbook and trade history revealed conditions similar to the inconsistency between sizes of trades and orders of BTC/USDT (see Fig. 10). The Bgogo Token price page is just one in Crypto.com Price Index that features price history, price ticker, market cap, and live charts for the top cryptocurrencies. 20% of the transaction fees generated by the successful candidate will return to the supernode during the candidate’s listing period.