Do you want your own exchange? Birake review.
By Rafał - 2018-09-20
BIRAKE Network is white label exchange platform aiming to build an exchange network allowing all people from the crypto community across the world to build their own exchange platform easily in a completely secure manner and more importantly, without any technical knowledge.
Birake’s mission is to inter-connect the different exchanges from its network while offering a single shared order book across the whole ecosystem. In 2019, it is important to be able to meet the inherent needs of projects within the crypto sphere such as the integration into a financial market with enough liquidity. Many projects have failed because they have not reached these objectives.
Birake, through its vision, offers a sustainable solution to this problem and offers new opportunities for investors. The more the Birake network increases, the more the exchanges present within the ecosystem will be able to enjoy an increase in the number of users. Birake’s network, based on a system of masternodes , offers a great solution to develop a passive income while ensuring sufficient liquidity on the market.
Birake White Label Solution will come up with an exchange platform, ready to go live from day one for anyone who will pay a small monthly fee. All the exchanges running on BIRAKE network will have orders openly shared. This means if a customer acquires one exchange platform, this will have plenty of orders from day 1, already present in the network, offering a direct access to liquidity.
This is a huge advantage over competitors who often pay market makers to kickstart a new exchange. With the Birake’s vision, any project wishing to build its own exchange can do so for small periodical fees depending on the need and the package chosen and thus, get all the benefits from an already established network and users and investors. Before choosing the Birake’s solution , any project can run tests and verify all the functionalities offered by Birake on the demo version at https://trade.birake.com. In general, after purchase, the exchange platform with standard functionality can be deployed in 2 weeks. It is highly advisable to first have a well-defined frontpage and provide the logo for trading platform to limit these delays.
The shared database of orders across all Birake exchanges isn’t the only major advantage when using Birake’s system. The development of a new exchange under the Birake banner also offers the possibility to decide some parameters before launch:
- A custom domain name
- Custom logo and personalization
- Ability to set custom fee per transaction
- Technical support and end-user helpdesk
- Possibility to add one cryptocurrency to BIRAKE network (depending on the package purchased)
The different packages
Birake offers a wide variety of Software exchange packages, ranging from 0,49 BTC to 5 BTC by year, depending on the type picked by the project wishing to launch its own exchange platform. All the packages include the same characteristics for the projects, with the only difference being the trading fees split percentages. By using any of the package offered by Birake, a new project can get access to a well-established technical support, without extra costs, and with the ability to pay everything with the native currency: BIR coin.
The benefits of choosing Birake’s solution
- More than 50 cryptocurrencies available in 2019
- Desktop and mobile friendly (fully responsive)
- custom transaction fee (up to the customer if he wants to apply low or high fees)
- capable of processing high volume of transactions per second (High trading engine)
- low fees on deposits and withdrawals
- Incentives for passive income solutions with bounty and reward programs for the community
System Functioning (Example)
To fully understand how Birake’s network works, we will introduce the 6 different steps specified in the official whitepaper from creation to fees allocation (the whole set of operations needed to setup a new exchange in the Birake network):
- Domain owner buys one of Birake’s packages with BIR - DOMAIN PHASE & RENT PHASE
- Website owner set his own fees and start personalizing he’s platform (The fees can be changed depending on what the client wishes to implement) – PERSONALIZATION AND CUSTOMIZATION PHASE
- Website owner brings new users to his platform (The promotion of the exchanges is mainly done by the clients). Birake’s ensure a complete functional system with all technological features associated but doesn’t make any promotion campaign for the different exchanges. – PROMOTION PHASE
- Those users start trading within BIRAKE network with all the users registered in BIRAKE network (The shared order book across all exchanges) – TESTING & LAUNCH PHASES
- BIRAKE platform calculates all the fees individually from one platform to another – FEES CALCULATION PHASE
- Considering the package acquired the total fee accumulated will be split between website owner and birake company (example 60% to website owner and 35% to birake). These numbers are just an example, the full calculation depends on the package purchased and the custom settings applied earlier. – FEES ALLOCATION PHASE
In order to constantly improve and optimize the work of the Birake project, the system has several technological features implemented to ensure the greatest user experience possible within the Birake network. The list of technical features is not limited to but includes:
- An easy integration for everyone: Birake platform can be easily personalized with few clicks into any Company’s Cryptocurrency exchange business
- Built-in tracking fees system: Birake will track all the orders in real time mode, will calculate fees differentially between user from platform A (which has a fee for example of 0.05%) and another user from platform B (which has a fee for example of 1%)
- Constant Real-time updates: users using the trading platform will experience the real time update of the orderbook and all the orders associated (active and passed) as well as the current price.
- High protection from fraud: to avoid abuse, the system has a mechanism to protect against bots, unauthorized withdrawals and other flaws with the implementation of 2 factor authentication feature, ip detection and email confirmations
- Referral program for passive income: each website owner can set the percentage of referral program if they want to activate it. The tracking of the referrals will be made individually per exchange owners. Birake is offering part of the fees on 3 Levels (25%, 10% and 5%) which could mean much more than 40% – 70% only from Level 1 and could represent a huge passive income.
Coin Listing program
Coin Listing Program is a new feature offering the chance to list your favorite crypto on the Birake exchange. The cost associated with listing on the exchange will depend on the market and the existing competitors with a minimum amount of 1 Bir. The accumulated votes are permanent and non-refundable. If a coin fails to win a vote for a certain period, the accumulated votes will remain intact for the next period. In that way, every two weeks Birake will list the winning coin after the coin developers fill in a simple KYC form. Only 1 winner by period.
The Birake’s core team is composed of 7 known members and 9 more persons not public:
Bogdan Mavrodin , Founder and CEO is a trader with more than 10 years’ experience in programming. Theodor Radu and Razvan Dinu are both respectively Co-founder and CMO/CTO of Birake. Stefan Onica is the actual manager for all the marketing and sales around Birake. Mihaela Radu is a banking specialist with a lot of experience in that field. Finally, Bogdan Grigoroiu and Angela Bala are two Business analysts.
The 9 other persons working with Birake aren’t public but include 6 backend/frontend developers and 3 Support and public relations managers.
Passive income solutions
Birake’s currency offers two incentives to participate in the life of the ecosystem: POS & MN solutions. Proof of stake, as we previously introduced, allows every Birake’s users to earn rewards for holding BIR coins in their wallet or in a staking pool. The current allocation between Proof-of-stake and masternodes is based on a 10%/90% ratio.
All the characteristics around Birake masternodes regarding current collateral , rewards frequency , ROI and more can be directly found on the tracking sites.https://www.youtube.com/watch?time_continue=1&v=BE6LrAC-tvwhttps://www.youtube.com/watch?time_continue=2&v=aRfcUPkohGc