General Idea
Kimex.io wants to explore the binary options industry, which is a multi-billion dollar market. For example, only in Israel, binary options broker companies made $5 billion profit in 2016.
When you buy a binary option from centralized brokers, you in fact bet against the platform. The broker makes money when you lose. However, many platforms turn out not to be reliable, they put high fees on the transactions and sometimes block traders from withdrawing money in case of huge payouts.
The Blockchain
In the regular world of financial services and exchanges, once the platform is closed or the creators decide to run away with the money, all of the users funds are gone. However, thanks to the development of blockchain technology, there is no need to trust the platform with your money, as even the creators don’t have access to the wallets. Using Kimex, one can trace all of the transactions and bankroll funds on a transparent ethereum blockchain and traders can get guaranteed payouts as everything is coded in the smart-contracts.
Trading Platform
The user can trade for as low as $1, even up to maximum investments of $10,000. One of the interesting and possibly very useful features is the multiple trading on same chart, which opens up possibilities for various strategies or trade signals.
The platform wants to appeal both to experienced binary option traders, with a set of tools and features, but also teach the beginners on how to trade with a range of various tutorials on how to use all aspects of the platform to its full extend to maximize the potential profits. The newer products such as forex and cryptocurrency trading display slightly different options based on the market being traded. For example, the forex trades will bring up leverage and stop loss features. Assets such as Bitcoin or Ethereum, traded via contracts for difference, do not have an expiry time. They do however ever, carry a stop loss and take profit feature. The new forex offering also makes weekend trading possible.
Mobile Apps
They plan to develop mobile applications for both Android and iOS, allowing traders to have control over their transactions and calls all the time. They could include live crypto rates, all sets of price charts, latest cryptocurrency news and the exchange itself.
The Token
KMX will be the token used within the KiMex platform. It assures the full transparency and security of transactions. All of the referral and cashbacks bonuses will be paid in these tokens. They can also be used for paying service fees 30% cheaper. While the most interesting feature is that you will receive 2% of your KMX tokens every month when you actively use it.
ICO Phase
The first public token offering starts on 15th of August and will act as a Pre-Sale Phase. The project has already successfully reached their soft cap and the earlier one decides to buy the tokens, the higher discount he can get. They accept ETH and the minimal transaction amount is 0.01ETH, allowing even the people with low budgets to acquire some tokens.
Public Pre_ICO starts on the first of September, while the main ICO is scheduled for 15th of September. 150,000,000KMX tokens are devoted to the sale, which adds up to 60% of all KMX tokens.
The Team
The team behind KiMex project is relatively small, however they consists of people experienced in blockchain technology, especially when it comes to the development. There is also a marketing manager to make sure that the platform reaches as many potential investors as possible during ICO phases to raise funds for the full development, so that they can hire more people then.
Final Thoughts
There haven’t been too many projects exploring binary options market, therefore there is still place for such platform on the cryptocurrency market, especially as the blockchain technology can make a great improvement in field like transparency, reliability and security of the funds and the transactions. Also, the sole crypto market and various tokens can be explored for predictions and calls and offer more variety than regular forex trading. The whitepapers provide enough useful information and the team seems to have thought about features which they want to offer. All in all, at this early stage, KiMex looks quite good.
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