BUX Crypto Newsletter #32

BUX Crypto Newsletter #32 Hi,

We're bringing you the thirty-second newsletter of BUX Crypto ✨

We've made a lot of progress with BUX in the past weeks and we're excited to see that the activity in our community channels have picked up momentum. Big thanks to everyone who is contributing to this! 💪

If you want to tune in to BUX Crypto on a daily basis, please follow us on Twitter or Telegram for more frequent updates and insights.

There's a lot happening in the world now and Bitcoin is becoming more and more relevant by the day. So, what are the highlights that happened in the crypto markets the past week? 🚀

A tough week for crypto

An illiquid Chinese real estate giant called Evergrande, signs of a coming crackdown on crypto from US regulators and the US central bank indicating that they might slow down the money printing led to a severe drop in crypto prices. Although these three important events could be a long term negative for the market, prices are already recovering.

Twitter integrates Bitcoin

One of the most popular social media platforms for crypto, Twitter, has launched a Bitcoin tipping system. Twitter users can now send Bitcoin micropayments to their favorite content creators via the web app, iOS app and soon also Android apps. The system was developed in partnership with Bitcoin lightning wallet company Strike, the same organization behind El Salvador’s Bitcoin infrastructure. If you want to learn more about this please check out the Youtube video in this Tweet.

What we've worked on in the last weeks:

Listing two new assets: Filecoin (FIL) and Polkadot (DOT) can now be traded directly with Euro or Bitcoin! 🔥

BUX Zero integration. By offering BUX Crypto in BUX Zero users will be able to create a uniquely diversified portfolio of all popular stocks, ETFs and cryptos all from one app! It's the biggest project we're working on and are really excited for this one. The first release is still on track for end of October.

Token bridge. Setting up the bridge between Binance Smart Chain and Ethereum so that token holders can also swap BUX token on Uniswap or Sushiswap in the future. The initial tests have been completed and currently the complete system will undergo a third-party security audit. The bridge will be launched on the 15th of October or sooner. The launch and next steps for using Uniswap or Sushiswap will be announced on our Telegram and Twitter account. Check the preview of the BUX Token bridge dashboard in this Tweet.

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 are considering to create a more advanced token model that offers a broader range of incentives for our platform users.

Crypto withdrawals. Currently all Crypto deposits and withdrawals are closed. But on the 15th of October we aim to re-launch Crypto withdrawals again. Crypto deposits will be re-launched shortly after.

Community Contributions: If you're interested to join the conversation with other BUX community members, please do check out the BUX Community Forum!

The first BUX NFTs have been created by some of our most loyal community members. These NFTs are not created by BUX but we do appreciate the contribution! Want to win one of these NFTs in the coming 24 hours? Then check out their latest tweet!

A loyal community member called Captain Crypto has written an in-depth article about the BUX Token. He has been a holder since the beginning and has written a proposal for improving our utility model in the future. We appreciate the contribution and will take all feedback points in consideration. You can read it here.

BUX Crypto wants you! 😎

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:

Senior Scala Engineer ​Support Operations Engineer Product Owner Let me know if you have any further questions in our Telegram community channel or follow us on Twitter.

Cheers from Amsterdam,

Kai Bennink Head of Strategy