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BitXMI Launches Initial Exchange Offering

Bitxmi (Courtesy:
Bitxmi (Courtesy:

Singapore-based exchange BitXMI launched Initial Exchange Offering (IEO) for its customers across the globe. One of the unique selling point for the IEO will be that it can be availed at 60% discount and allows references to earn their bit.

The exchange BitXMI has a vision to provide fast and convenient cryptocurrency trading that includes 40 coin pairs with currencies such as Bitcoin, Litecoin, Ripple, Binance Coin, and many more. 

What is IEO?

Initial Exchange Offering or IEO is a variant for initial coin offerings which has been largely operated by cryptocurrency exchanges across the globe. Let us understand ICO first: ICO has been a funding for cryptocurrency. In the most of the circumstances it has been done through crowd funding, with many a times a private ICO not looking for a public funding.

In ICO, the cryptocurrencies are sold as tokens. Os can allow startups to avoid regulations that prevent them from seeking investment directly from the public, and intermediaries such as venture capitalists, banks, and stock exchanges, which may demand greater scrutiny and some percentage of future profits or joint ownership.

Earlier, exchange issued an IEO apparently to shore up its reserve for Tether tokens. In the past few years, U.S. Securities and Exchange Commission are looking into IEOs, with a view to acting against violations of securities laws.

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.