Bitcoin will be as famous as gold? How XMEX responds to new market demands

Mike McGlone, a top commodity strategist at Bloomberg Intelligence, shared his analysis on Twitter, pointing out that Bitcoin is accelerating the pace of replacing gold as a store of value in investors' portfolios. Although precious metals always have a place in the "jewelry and coin collection", Bitcoin seems to be "pushing away the old value preservation products" and replacing this metal as an inflation hedge.

According to McGlone's data, since 2017, investors usually choose Bitcoin instead of gold as a store of value.

In addition to the faster appreciation of the asset relative to gold, McGlone is also optimistic about the price of Bitcoin. McGlone accurately predicted that Bitcoin will soar to the $50,000 mark, and recently made a new prediction. He said that by 2025, the price of Bitcoin will continue to rise, eventually reaching the $100,000 milestone, which is the expected goal of many other Bitcoin bulls.

Some Bitcoin enthusiasts, such as MicroStrategy CEO Michael Saylor, even advise investors to sell gold and buy Bitcoin instead. He believes that "gold is dead money" and that "others will sell their gold". Peter Schiff, an ardent supporter of gold, has always refuted this claim. He believes that Bitcoin is a scam. It cannot be considered that it can replace gold just because of the appreciation of Bitcoin's price. Schiff's criticism of Bitcoin often annoys traders.

A trader specifically compared his investments in Bitcoin and gold. He claimed to invest $1 in Bitcoin and gold respectively. After 11.4 years, Bitcoin rose to $66,542,100, while gold was only $1.63.

This year, the market value of Bitcoin ranks ninth among the top ten global companies, and top analysts have judged that it will become an existence beyond gold. All kinds of good news have also made a large number of companies flood into the digital asset market. Faced with a large number of new users, XMEX will also exceed 3 million registered users worldwide at the beginning of 2021. With the emergence of a large number of new users, security and stability have become the most important issue for an exchange to solve.

XMEX has the top risk control system, with bank SS+ level data encryption protection function, plus built-in DPI and early warning system, all-round and multi-dimensional protection of platform transaction security, which can avoid any third-party data attack. In addition, in order to solve the three major problems in contract transactions, namely slippage, pin insertion, and downtime, to protect the security of users' transactions. In line with the concept of "user first", XMEX is the world's first user trading risk protection fund, including the "abnormal market piercing protection fund" and the "third-party accident protection fund", aiming to provide users with a more secure trading experience.

1. Abnormal market piercing protection fund

The platform is a protection fund designed for the "pin" market. In order to ensure the safety of user transactions, XMEX launched an "abnormal market penetration protection fund". When the user places an order when the latest transaction price is abnormal and causes a transaction loss, the platform will make a claim. At present, the latest we consider that the price difference between the transaction price and the index price is greater than 2% of the marked price, which is regarded as a pin situation.

2. Third-party accident protection fund

If there is a sudden failure of a third-party platform, such as a third-party network service failure, downtime, etc., which causes loss of user assets, we will make claims for such users.

Regarding the transaction protection fund, there is also a special claim settlement mechanism, which makes the following five major commitments to users.

1. Dedicated line: Set up a claim line for each user, serviced by dedicated customer service personnel;

2. Responsible for the first question: The customer service staff who is the first to accept the user's inquiry is the person responsible for the first question, answering or guiding the user to submit relevant materials, so as to avoid delays in claim settlement time due to inquiries;

3. Quick acceptance: The dedicated customer service will provide 7*24 hours online service, and accept claims for the first time;

4. Convenient verification: Users who apply for claims only need to provide UID, order information and other claims information to the dedicated line customer service to wait for verification;

5. Time-limited arrival: After the user's claim information is submitted, the dedicated customer service will process it in real time, and the claim funds will be issued within 1 hour.

XMEX is now in the big market of Bitcoin all the way up, the platform will increase its innovation efforts, hoping to develop with the entire industry.