Biki Exchange AMA Recap
Founded in August 2018 and headquartered in Singapore, BiKi is a global digital currency trading service provider. With a strong technical team and operations team, the platform is committed to creating the safest, most stable and efficient digital currency trading platform for users around the world. At present, it serves nearly 100 countries and regions, with over 2 million users worldwide. BiKi launched its Perpetual Contracts in March and already demonstrates significant 24h trading volume: $150M in BTC/USDT, $385M in ETH/USDT, and $414M in BCH/USDT (there are many other pairs).
This AMA allowed users to connect with Biki’s CEO Ethan Ng, and marketing director of BiKi Russia Anna, who answered the questions and listened to the feedback.
I’m Ethan Ng, the CEO of BiKi.com Southeast Asia, in charge of the overseas market. I was the former Marketing Lead of Huobi Global and possesses a wealth of experience in S.E.A. expansion and startup growth hacking, having also organized Blockchain Festival Vietnam, one of the biggest and most notable blockchain conferences to-date which garnered 1626 attendees. My specialty is key market knowledge and know-how for crypto markets within the Southeast Asia Market. I graduated with RMIT University with Bachelor in Business Degree and have been handpicked for the position of CEO by none other than Jun Du, who is also the CEO of Node Capital and Jinse (China’s most established crypto media) and co-founder of Huobi. Prior to joining the blockchain industry, I was a digital strategist and growth specialist with a track record in traditional banking and startups.
I’m Anna marketing director of BiKi Russia, I became interested in cryptocurrency & blockchain technology in 2017. Then I quickly realized that blockchain technology would not only revolutionize & improve the quality of life, but that it would also provide financial reformation for people globally. Right now I’m proud to be a member of BiKi exchange’s team.
Question from the CryptoRank team
#1 How did you come to the idea to create the BiKi exchange?
Ethan Ng: – BiKi started in the bear market of 2018, when all exchanges and projects were downsizing. we came up with the idea of creating an exchange will be community-driven and more 1 to 1 with users. We have a long term goal of the blockchain industry, like the internet industry in the past, small companies like google and Paypal grew to big companies today and the internet industry is a mainstream industry now. So foresee blockchain industry will be mainstream too and exchange will be the financial center of the blockchain industry. We have a vested interest and long term vision for this exchange. We came up with the name BiKi because we needed a name that is more personal and universal that everyone around the world can relate and easily pronounce.
CryptoRank community questions
#1 How long does it take to receive a response from the BIKI support team? How does it work?
Ethan Ng: – Normally, within 15mins unless there are a lot of users coming in at a time. we have a 24/7 customer service department.
Anna: – It takes seconds) All you will have to do is to open www.biki.cc and click to open chat with our support. If you find it more convenient for you – our global and community managers will try to help you with solving your problem
#2 How is BIKI token uses for in your exchange? How to keep motivation to hold BIKI tokens in the long term?
Ethan Ng: – Currently, users can stake their BIKI tokens for 1 year and get 10% interest per year and also get to be our community partner. We will be releasing a financial chain soon depending on the market sentiments, this will give the BIKI token more function for our vested users.
Anna: – Primarily used to pay for services and fees when trading on the exchange, using BIKI grants the trader discounts over using other payment methods on the exchange. BIKI follows the 4 principles of “daily buyback, quarterly burn, tokens in a locked position, steady deflation”. This motto guides the platform’s goal of bringing value to BIKI through a three-step process.
#3 What advantages does BIKI have over its competitors? What benefits do you offer to a trader to trade at your exchanges over others?
Ethan Ng: – We have community managers to answer your questions 24hours a day. We have interesting project opportunities that are not offered on other exchanges. You are free to interact with other BiKi users in our community too. Most importantly, we have one of the best staking programs with good customer service for you.
#4 How is your cash flow? Given the rigorous market situation, can you still cover your cost?
Ethan Ng: – Very good question. BiKi became profitable in December 2018 and we got investments from Node Capital, FBG capital and Genesis Capital totaling $10 million. These are world-renowned blockchain venture capital funds. Because we are using a sustainable business model, we have secured $5,000,000 as part of our insurance fund to protect users, in any case, we will use this fund to compensate users in the case of hacking. So in our accounting books, we are in a very healthy state, growing 200-300% in a bear market from 2018.
#5 Do you have ambassador programs to propagate BIKI exchange around the world? What are the rewards for ambassadors also?
Ethan Ng: – Yes we do, we have the BiKi Community Manager (you get paid monthly) and BiKi Community Partners program (you get 50% referral rebates), depending on your strengths i’m sure one of them will suit you. Feel free to come to our blog to read more or join our telegram and our admins can assist you with more information.