BUX Crypto Newsletter #39 Hi,
We’re bringing you the thirty-nineth newsletter of BUX Crypto.
These past weeks we’ve seen further lows for the crypto market. Bitcoin is currently struggling around $38.000 after a drop to around $33.000 last week, dragging a lot of altcoins down even further. However, although the markets are going down, there is also reason for some optimism in the near future.
On-chain analyst Will Clemente has identified a new trend emerging for Bitcoin investors that could signal a change in BTC’s market structure. In the latest Blockware Intelligence newsletter, Clemente says that Bitcoin whales, or entities with more than 1,000 BTC, have finally started adding significantly to their balance after months of selling since August 2021. This is a very bullish sign for Bitcoin and could perhaps turn into a trend reversal for the entire crypto market.
If you want to tune in to BUX Crypto on a daily basis, come chat with us in our Telegram community channel.
What we’ve worked on in the last weeks:
Roadmap 2022: Now that we’ve completed the first stage of the BUX Zero integration, we’ve also started with formalising the roadmap for BUX Crypto in 2022. The roadmap will contain components that we aim to build for both BUX Crypto and Zero. As soon as the new roadmap is published, we will also host an AMA in the community channels to answer all of your specific questions that you might have regarding our upcoming plans!
Utility improvements. Currently, the main utility of the BUX Token is that it gives users the option to trade with 0% commissions (100% discount) when users hold 1,000 BUX tokens or more in their portfolio. In the next iteration we want to create a more advanced token model that offers a broader range of incentives for our platform users. A more detailed update about this feature will be shared in early February.
Crypto deposits: In the past weeks our team has spent a lot of time on testing the newly designed crypto deposit infrastructure. We expect to launch crypto deposits again in February.
Security: We’ve worked on adding an additional level of security to your account. Now, when you want to initiate a crypto withdrawal on your BUX Crypto account you must also provide a 2FA verification before the crypto withdrawal will be processed. This feature will be launched in the coming weeks.
Crypto registrations. We are applying for multiple crypto provider registrations in other EU jurisdictions.
BUX Crypto wants you!
We’re happy to say that we’ve been able to fill several of our open positions but we’re not there yet and can use your help!
In order to accelerate all our plans for development this year, we are looking to hire new developers and fill other positions. So, if you are interested or know someone who might be interested to join our team, feel free to check out the open positions:
Cheers from Amsterdam,
Kai Bennink Head of Strategy