You should keep in mind that there is no way to guarantee that data transmitted over the Internet or stored electronically will be completely secure. In order for the system to function properly, it must keep track of each account holder and ensure that only the right people are requesting services. Bgogo has thus gone, to the best of my knowledge, “where no crypto-exchange has gone before” (I hope you won’t mind too terribly me paraphrasing the immortal Star Trek TNG title sequence).

  1. Bgogo appears to have been registered in the Cayman Islands as a crypto-asset platform with the goal of being a community-driven platform that is run for and by its users.
  2. Because of its failure to provide traders with the necessary support and assistance, a trading exchange platform’s relevance is called into question.
  3. DOUBLE Trading Rewards are calculated according to the market price of BGG during a specific transaction.
  4. Luckily, Bgogo is among the most transparent ones, which makes reviewing it much easier.

Although the long-term outlook is uncertain, it could be affected by concerns about governance, and the exchange will have no way of competing with similar platforms in the future. A limited quantity of BGG tokens, ten billion, have been issued and are being used to fund operations. The first billion dollars were sold in a private transaction, with the remaining 40 percent being unlocked immediately and the remaining half being released in equal installments over a five-month period.

Instead, most of the exchanges, especially those launched last year, are making every effort just to stay afloat. There are numerous exchanges in such dire conditions, but one of them, Bgogo, specifically caught our attention by breaking onto the Coinmarketcap (CMC) leaderboard and soaring straight to 2nd place (see Fig. 1). Mineable BGG tokens (50% of total supply) will be reserved to users in the form of trading fee rebates, commonly known as mining through trading.

We hope to become a pioneer in promoting transparency in the cryptocurrency exchange industry. 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. In addition, a vast part of trades in most active pairs are way larger than all bids or asks combined, meaning that standalone trades could consume all orders from either side of the orderbook in all pairs. Furthermore, most trades are priced in the middle of the spread regardless of its width. All the facts mentioned above suggest a very high possibility of volume manipulations carried out on Bgogo exchange.

Within the period, each supernode is entitled to “one vote to list”, in other words, the full discretion to list one candidate in a global context. Supernodes must lock the positions of BGG within the tenure (90 days). Because of the hype surrounding the exchange, it is likely that it will attract a large number of new users when it launches.

The privileges that supernodes have are as follow:

The internet, which was created with the goal of making people’s lives easier, has achieved its primary goal and has provided benefits to individuals. People from all over the world can now communicate with one another thanks to the Internet, which has aided in the expansion of trade. The Internet has brought far-flung traders closer together and made it easier to communicate with them.

In contrast, as of the date of the most recent update to this review (20 March 2020), which occurred right in the midst of the COVID-19 crisis, the 24 hour trading volume was only USD 2.4 million. Needless to say, this represents a noticable decrease in trading volume, and we do not know what has caused it. 7 features orderbook and trade history (in particular, the 20 most recent trades) compiled from a screenshot of Bgogo web platform taken on February 25th.

Despite the fact that the interface incorporates many technical elements for professional traders, it is simple to navigate. You can trade without stress and choose from accessible order types such as Market, Limit, and Stop orders. Making deposits and withdrawals on the site is as simple as clicking a button and selecting the appropriate transfer type. 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).

Bgogo Token Price Today

A service provider will recognize you and do verification process on your behalf, improve the management of website and services, and enhance the effectiveness of your interaction with the site and services. Send you administrative e-mail notices, such as those regarding account interaction, payment services, protection, or maintenance and support alerts. Respond to questions about job openings or other demands by identifying, preventing, and reporting suspicious, fraudulent, or illegal activity. Verification of accounts on this platform is accomplished through the KYC (Know Your Customer) procedure.

There were alternations of steady price periods with wild price swings up to 20% per 5 minutes, which can be explained by strange spread shifts described in the BGG/BTC pair case. Such a weird spread performance combined with tiny orders filling the orderbook suggest of inadequate market making. Thus, the BGG/BTC spread managed to widen from 0.15% near the price of 2020 satoshis to 12% and narrow back to 0.62% near the price of 2264 satoshis, which is 12% higher, in a matter of minutes.

What Is Bgogo Exchange

These facts show that the price volatility is not the result of high trading activity but of strange shifts in the spread suggesting the inadequate performance of market making algorithms. The next three consecutive screenshots will show how “price volatility” appears as a result of synthetic liquidity.On Fig. 20 the pair has a super tiny spread of only 3 satoshis but a number of recent trades are priced just between the best bid and best ask. Moreover, BGG/USDT price performance looks extraneous and unnatural. It has steady periods alongside choppy action of up to 15% price change (between high and low) in 5 minutes (see Fig. 15).

For each individual supernodes, 250 ETH (approx. $117,000) worth of BGG tokens (16.67 million) are unlocked during the first day of token listing. Meanwhile, Bgogo will update and post daily BGG token holding positions for all bgogo token supernodes on the website. This is an unprecedented case where an exchange makes public its top token holders as well as their positions. This means that any change in supernode positions will be seen by all platform users.

Access your account

A section titled “Frequently Asked Questions” addresses the concerns of first-time investors. Customers and partners can benefit from the availability of a help desk as an additional perk. Live chats, Telegram chats, and social media giveaways, to name a few examples, are all viable options. The customer support team is comprised of experts who are available 24 hours a day, seven days a week to assist customers. TDM is all the rage lately, and you have to admit, it sounds rather fancy.

While DNSSEC cannot protect how data is distributed or who can access it, the extensions can authenticate the origin of data sent from a DNS server, verify the integrity of data and authenticate nonexistent DNS data. Bgogo has not implemented the Captcha input during the sign-up and sign-in procedures. The purpose of a Captcha is to discourage hackers and spammers from using auto-filling software programs on websites. 30 seconds later the spread narrowed to 14 satoshis (see Fig. 22) but stepped up 12% higher than it was 2 minutes before.

While the Feed APIs are open to the public, the Trading APIs are only available to persons who have registered for an account and have been provided with a Trading API key by the trading platform. QBTC, OceanEx, and BitMart are among the other cryptocurrency exchanges that have registered on this site. In addition to members who work for well-known corporations like Google and Facebook, the exchange was founded by members from IBM, and Twitter. Below we will review the issues detected by cybersecurity check of Bgogo exchange and explain their importance.The website of Bgogo exchange doesn’t have the appropriate DNSSEC records. DNSSEC is a set of protocols that add a layer of security to the domain name system (DNS) lookup and exchange processes, which are integral in accessing websites through the Internet.