Birake ICO Review: White Label Platform For Decentralized Crypto Exchanges

The valuation of cryptocurrency markets keeps rising with every passing day, possibly set to reach $1tn over the course of 2018, according to some experts.

Trading cryptocurrencies has evolved from a somewhat arcane and niche activity for computer enthusiasts to a quasi-mainstream trend for a lot of people, both with financial backgrounds or not.

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One of the main issues faced by people who might be interested in trading is the difficulty in either accessing or understanding trading platforms, either because of technology problems or simply lack of knowledge.

Birake is a brand new ICO that intends to create the largest crypto exchange on the blockchain and enable community members to create their own exchanges.

Birake: the decentralization of crypto exchanges

The core idea behind Birake’s proposition is the creation of a large, decentralized crypto exchange network where the community can trade currencies back and forth, sharing orders across all these exchanges. In this case, Birake would act as an order sharing database of sorts to facilitate trade, both small and big scale.

According to Birake, this will enable anyone signing up to the platform to have access to plenty of orders from day one.

Birake in figures & quick facts

  • Token name – BIR
  • Total amount of tokens issued – 300m
  • Token price (pre-sale) 1 BIR = $0.07
  • Token price (public sale) 1 BIR – $0.10
  • ICO start date – Q2 2018
  • ICO end date – Q3 2018
  • Soft cap – $3m
  • Hard cap – $20m

The BIR token

Birake will issue the Birake token (BIR), which is based on the Ethereum ERC-223 Standard.

The Birake token will be the only means of payment within the platform.

The token, which is defined as a ‘utility’ token, will be used as:

  • Monthly income where the website owner will be paid in BIR tokens
  • Currency in the referral program
  • Rewards and Bounty currency
  • Promotions

Once created, the tokens will be distributed as follows:

  • Pre-sale – 16.7%
  • Public sale – 58.3%
  • Advertising – 5%
  • Advisors and Developers – 13.3%
  • Marketing – 6.7%

The team

Learn more about the Birake team here.

Social media presence and digital footprint

Here are the numbers for Birake at the time of writing (late April 2018).

  • Twitter – 3,827 followers
  • Facebook – 10k followers
  • Telegram – 23k followers

Competition

Crypto trading platforms are literally a dime a dozen across the blockchain. There are no fewer than 100 such platforms currently operating. SafeCrypt, Bidium, Taklimakan, to name just three. Birake is just another fish entering a very crowded pond.

Consult the Birake Whitepaper for more information about the platform, additional features and services, etc.

See Birake review on ICOBench.

Conclusion

Birake’s challenge is how to make an impact on a market sector that’s already overcrowded as it is.

 

 

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