Buzzex Update January 23

3 min read

As we are approaching the last week of January, it’s time to have another update about development progress of The Buzzex Project along with some other interesting news.

First of all, we are happy to inform that we have a deadline as to when all development features will be completed. These include:

-> Bug Fixing
-> Servers Setup
-> Wallets Setup
-> First Batch Of Coins Integration
-> Automated Dividend Sharing
-> Stress Testing
-> Security Testing

This doesn’t mean we’ll already announce the exact launch date though as there are still some variables which can slightly delay the launch, even though we are confident halfway February is a deadline we can certainly reach to complete the things above.

In other words, we’ll only launch if we are 100% confident that the exchange is completely ready to open up to traders worldwide.

Now let’s take a closer look at what is still in store, along with other news and an exciting feature announcement which will set Buzzex even further apart from many other exchanges.

Bug Fixing And Ensuring Buzzex Is Ready

The two main items which can cause a slight delay are bug fixing and checking all details of every single feature of the exchange, this to ensure we have a completely bug-free platform the moment we launch. A lot of things have been reported by our beta testers and a lot of things have been fixed so far, so we are certainly making great progress in this area.

But as mentioned, we won’t even think about launching if we or our beta testers see something that needs to be fixed, hence we will refrain from providing an exact launch date, even though it’s 100% certain that Buzzex will launch within our timeline which is Q1 of 2019.

End Of Lifelong Bonus

We also want to inform you that the lifelong bonus for people buying Buzzex Coins will end 24 hours before we actually launch the exchange. This means that only people that buy BZX before this period will receive lifelong BZX coins every day for life!

At the moment, there still are about 530,000 BZX available at $0.05 (1.47 Million BZX sold so far), followed by 5 more batches of 600K BZX coins at an increasing price.

The lifelong bonus is a great way to earn 100% free passive income for life as we’ll share part of our staking rewards with people that support the project early on. More info about this bonus can be found here.

Buzzex Marketing Campaigns

During the pre-launch, we haven’t spend anything on paid promos yet. A lot of people have rightfully pointed out that marketing will be crucial in order to attract traders to the platform so they can benefit from the many features it has to offer.

We want to inform that all the funds that we don’t need for development, servers and other costs in our business will be used for marketing. Our paid marketing campaigns will start just before the platform launches to attract a lot of traders fast.

With only free marketing methods, Buzzex has attracted nearly 40,000 traders already. This doesn’t just mean that we know what we’re doing, but also shows that a lot of crypto enthusiasts are interested in our project setup. We are positive that this number will increase rapidly once we start using some of our budget (this will be ongoing after the platform launches) to promote Buzzex on targeted sites.

Buzzex Limited

Buzzex has been incorporated in the UK as “Buzzex Limited” with company number 11780976.

As there currently aren’t any clear regulations concerning crypto exchanges (which don’t allow fiat deposits and trading), we will take a pro-active approach in case this eventually happens.

-> AML: the HMRC informed us that they do not regulate cryptocurrency businesses so this registration is not needed at the moment.
-> Withdrawal Limits: We have a daily withdrawal limit of 2 BTC for non-KYC verified traders.
-> Data Protection: To ensure KYC data is protected, Buzzex will become a registered Data Controller with the Information Commissioner’s Office.
-> Close Regulation Monitoring: In order to stay compliant with new regulations, Buzzex will monitor new updates and act on them instantly whenever needed.

Buzzex API Integration Into Trading Bot

We are happy to inform that the Buzzex API will be integrated in one of the most popular trading bots on the market called Gekko.

Here you can find more information about this bot: Gekko Bot.

In short, Gekko is a bot that executes trades automatically based on data analysis. It comes with several pre-created strategies along with a big library of available strategies created by its users: Gekko Strategies.

This allows traders who create strategies to profit from the fluctuations in the crypto markets without actually having to do the trading themselves and (potentially) earn more than simply holding coins.

Since Gekko mainly focuses on technical people and experienced traders, we will also have a solution for this which will allow non-technical people to be able to trade using the bot on Buzzex. More info about this will be posted in a future update (this will be an exciting one).

Buzzex API Competition

Because we are building the foundation of an immensely scalable bot that can be used on the Buzzex platform, and which is used by thousands of traders already every single day, we will reserve part of the budget for our API competition for this angle as well.

It will consist out of 3 separate competitions in which anybody will be able to join:

  1. Current Gekko Users
  2. Gekko Strategy Developers
  3. Non-Technical Solution To Use Gekko

We are still working out all the details for the 3 separate competitions, but it will be an amazing way to introduce traders to Buzzex, grow the overall volume on the exchange and allow anybody that holds coins to become a trader on the Buzzex platform!

PS: Our regular API competition will also launch, allowing traders to code their own bots and earn BZX coins.

Final Word

Our team is working extremely hard to present an amazing exchange for crypto enthusiasts and pro-traders alike. We are mere weeks away from a scheduled deadline, even though we won’t post a fixed launch date yet due to the complexity of some of the features we are still working on.

I think it’s good to end this update with the mention that everybody on the team is extremely optimistic, even though the crypto space is experiencing an immense bear market which doesn’t seem to end (any time soon).

Even if conditions stay like this, we are positive that we have everything needed to succeed!

The Buzzex Team

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