BigoMex: User First Trading Product Philosophy
On August 24, BigoMex announced online spot trading. After steady iterations, the BigoMex spot trading sector innovated in terms of transaction depth, price transparency, and rich transaction currencies. It has formed a certain degree of stickiness between products and users. For more information, please visit https://www.bigomex.com/.
BigoMex spot trading is prominent in the following aspects:
- The price is transparent. BigoMex deeply aggregates the real-time transaction prices of Binance, Bitfinex and Coinbase, and takes the average after weighting, which means that even if there is a pin in the price on the platform, the user’s purchase and sale price will not be disconnected from the market.
- The depth performance is good, both for the buy side and sell side, and the depth of the first layer of orders is thick enough. In addition, the depth distribution of the first 15 orders is relatively uniform.
- It is simple and easy to operate. BigoMex always adheres to the concept of “simple transaction”. The spot transaction interface is simple, which reduces the barrier of entry for new players and allows more people to participate in this transaction feast.
- The trading pairs that are selected are rich. The pairs selected for launch are market guaranteed currencies, and zero currencies are refused.
Peter F. Drucker, the father of modern management says, “The success of an organization does not depend on production but on users.” At present, every achievement made by BigoMex is linked to users, which can be seen from the statement, “All the innovation and action of BigoMex are carried out around users, which is the long-term philosophy of BigoMex’s business.”
BigoMex online selected spot transaction
Spot trading is a very popular way of hand in hand delivery in the cryptocurrency market, and it can also take the way of bartering. BigoMex spot trading currently supports USDT currency standard trading pairs, and the first batch of popular currencies such as BTC, ETH and FIL will be launched.
With high-quality transaction depth, users can make frequent and fast transactions during a volatile market
Spot trading depth is an important dimension of the trading platform for users. One of BigoMex’s advantages is that the trading depth is good, and the depth of the first few orders is thick enough, especially on the buy and sell side.
By comparing the actual buy-sell order book, it is found that, for example, the depth of BigoMex BTC transactions, every 10000 BTC transactions is equivalent to the depth of one BTC. It can be seen that there are 42 BTCs in the depth of the sell side, while there are 32 BTCs in the depth of the buy-side. Moreover, within 15 order layers, the depth is evenly distributed.
This shows that BigoMex has a large number of participants, and there is a large amount of pending orders. On the other hand, it also shows that the slippage of BigoMex transactions will be very small, and the transactions will be very fast. When the volatile market comes, it is very important for the transaction to close as many and fast as possible.
Transparent transaction price, avoiding industry pins to escort users’ transactions
For trading products, price transparency and no malicious random pins are a focus of the user’s attention. At present, BigoMex’s spot products have transparent prices and avoid industry pins. The reasonable price is derived from the index price, so in essence, it is calculated by aggregating the spot prices of multiple platforms and using the weighted average algorithm.
For example, the reasonable price of BTC comes from Binance, Bitfinex, Coinbase and other trading platforms. This information can be checked and calculated in the announcement and official “trading information”. Therefore, BigoMex is absolutely transparent in terms of the transaction price.
More importantly, because the transaction is calculated at a reasonable price, even if there are large transaction orders in the platform, resulting in excessive price deviation, that is, the so-called pin phenomenon, the user will not make an expensive transaction, because the reasonable price is different from the market price in the platform.
Rich trading pairs to meet the trading needs of mainstream and popular currencies
At present, in the future plans of BigoMex, in addition to mainstream currencies, it also supports conceptual currencies such as Boca, DeFi and storage, with high asset utilization and fully meeting the needs of different users. In other words, at the variety level, BigoMex will meet the transaction needs of every mainstream and popular currency users, and in this area, BigoMex is almost seamlessly connected with the market.
BigoMex product manager said, “The product logic and technical logic of the transaction are actually quite complex, especially the transaction is a financial transaction, but it should be based on a criterion, that is, how to ‘take the user as the starting point and do a good job in risk control’. Compared with product logic and technology implementation, the logic of risk control is the most complex.”
Fast, iterative, new requirements, expectations with users, steadiness and user first orientation, cordial and friendly attitude, every innovation of Bigomex in the cryptocurrency market and innovation considered for users are worthy of respect and love of users. Therefore, this is why BigoMex is very popular with users. Steady and modest coexist, and BigoMex is still a familiar exchange.
Contact Person：Mi Wang