BIT.TEAM AMA
Services are constantly developing and improving, and new huge modules are being added, such as the exchange, nfts and so on.
Launching an App in such conditions is a challenging task, since mobile Apps get obsolete even before the developers finish integrating all the functions. And this, in fact, has been happening for a year.
The exchange App and the p2p App are about 60% ready as separate modules, the final part just lags behind due to the fact that the functionality of the web versions is being regularly changed and improved.
Legal issues
Where is the exchange registered as a legal entity?
Addresses and all contacts can be found via the link: https://p2p.bit.team/ru/contacts
Is the transaction data transferred to the tax authorities after the account verification?
We do not transmit data and we will not transmit them without a corresponding requirement from the regulator.
Also, we do not store the data of your documents – this is done by SUMSUB, a specialized, certified service partner, from which we get the user ID and the “Successful” status of documents.
That is, the request from the regulator will first have to come to the SUMSUB service, request data and then SUMSUB will send the request to us.
Within the framework of the current draft law, voluntary taxation is provided, that is, the user himself must indicate his income and pay tax on it.
Is the exchange legal? On the basis of what does the exchange have the legal right to operate?
BIT.TEAM is registered at 85 Great Portland St.
Marylebone, London W1W 7LT, UK and fully comply with all standards of English law. This activity is legal in the jurisdiction of the company, and is also not prohibited in most countries of the world. The list of countries BIT.TEAM does not cooperate with is published in the User agreement.
What risks associated with sanctions pressure does the company have? I recently saw the news that BITTEAM has introduced restrictions on sanctioned people and companies due to the fact that the company is registered in Singapore
The sanctions pressure did not affect us badly, since our main business process takes place outside of banking, and people work with their cards on p2p, and with crypto assets on the stock exchange.
Can the supervisory authorities block the exchange?
It is possible on the territory of the Russian Federation, since there is still no appropriate regulation, that is, the activities of our services are NOT PROHIBITED, but they are not allowed accordingly. There have always been and there will always be the corresponding attempts of regulatory authorities, but our legal department successfully defends the rights of our company confirming the legality of its activities.
Questions on the development of BIT.TEAM services
“The BITTEAM exchange was and still is in a utopian state, no significant development. Listing on other exchanges is carried out weakly, because it is not necessary to get into the top ones, at this stage it is possible to get into the first hundred at least. Xt.com has not been available for a long time, there is really nowhere to trade.”
The BIT.TEAM was launched on 03/28/2022, at the moment it has been working for less than 3 months and has the following indicators:
- Number of active users: 14128
- Capitalization of more than 500,000 USDT
- Daily trading volume ~200,000 USDT
And indeed such indicators are “utopian”, that is, ideal. Our whole team couldn’t even predict such huge numbers for a new project. We want to thank our users for your choice and trust!
The next part is absolutely incomprehensible to us, we can only guess what the BIT.TEAM exchange and listing at xt.com have in common.
When will the exchange start to work steadily and smoothly? When will the mobile version be launched? Why not develop the exchange to the binance or baybit levels? The same questions about the p2p platform. Fix these misunderstandings with disabling ads due of some percent of the price.
The BIT.TEAM has been working steadily and smoothly for 3 months since 03/28/2022. If you have suggestions on how to develop products better and faster, we are always happy to listen to them, and also invite you as a consultant or employee to our staff. The P2P exchanger, with which we started our journey, currently has 220 thousand active users, since the niche is specific and is not in great demand outside the CIS countries, it is quite problematic to expand the audience to other countries.
The exchange is a tool with a much wider audience and can be used all over the world.
As for the development strategy, the launch date plays a core role, since Binance was launched at the peak of the popularity of cryptocurrencies in 2017, Bybit in 2018. At that time, the influx of users to the market was at historical height, and cryptocurrency advertising was available, including promotion through the official Google account, which gave huge coverage.
In 2022, the market is full of crypto products. On coinmarketcap.com there are 310 spot exchanges, but nevertheless, our product confidently occupies its niche and improves gaining the trust of new users.
Hi! Please tell us your development goals: will there be changes in the interface (now it’s quite inconvenient), promotion, collaborations with artists, minimal censorship for, tag cloud, etc. With all due respect to the developers, the project is abandoned.
Indeed, our resources are not unlimited and the staff of developers “switches” between projects, which at some point slows down the development of one of the products. Nevertheless, work on the NFT market continues, and the recent updates are:
- We`ve added a separate “author” page
- Added “collections” page
- Changes have been made in the product card
- Moderation has been introduced, unwanted content has been cleared
When are you going to add other trading pairs and promote the service, say, with bloggers?
When do you want to add new cryptocurrencies? Namely, the atom/usdt pair
We will definitely add an atom/usdt pair (prior to September).
Work on the promotion of our products is carried out continuously, at the moment there is no need for “massive advertising”, the number of users and trading volume are growing naturally without sudden jumps. And once we see a sharp demand (usually, it is September-January when the crypto market comes to life), we will start promoting our product by all possible means.
In advertising, as in trade, it is important to maintain a balance of supply and demand, if you offer a product regularly without demand, this will only lead to oversaturation and budget spending.
Will there be a stop limit or trailing stop order and when will it be implemented?
The stop limit has already been implemented and will be available in the next update (prior July 2022)
What other benefits and privileges will be implemented for paying with BTT token
The team has global plans for the BTT token this year, including bringing it to trading platforms and rate aggregators such as coinmarketcap, coinmarketrate, coinmarketcal, coinpaprika, coingecko. There are also plans to develop applicability, including paying for listings on BIT.TEAM platforms with a discount for BTT.
Are you recruiting? And if so, of what professions?
Yes, we are, a detailed section with vacancies will be created at the link p2p.bit.team/careers, and in the future for the exchange bit.team/careers
Developers of the middle and higher levels are required in the following areas:
- node js, go
- vue (nuxt)
- flutter
Administrative staff for the exchange with at least 3 years of experience on exchanges:
CFO — Chief Financial Officer
COO — The Chief Operations Officer
CCO — Chief Compliance Officer
CIO — Chief Information Officer
CHRM — Chief Human Resources Manager
CSO — Chief Security Officer
CAO — Chief Analytics Officer
CMO — Chief Marketing Officer
CRO — Chief Revenue Officer
CTO — Chief Technology Officer (CTO)
Managers:
PR manager (from 3 years of experience in the field)
Copywriter on the subject of cryptocurrencies (from 3 years of experience in the field)
Other issues
“Is there a risk of being blocked using vpn. What are the reasons for blocking accounts other than non-acceptance of transactions.”
BIT.TEAM account security system monitors the IP address and the device mask, these are the indicators that most often change when using a VPN, but there are no additional locks, except for the regular request for “device confirmation” – for this case there is no provision.
There is no clear regulation on account blocking, where everything is spelled out?
https://p2p.bit.team/ru/faq/profile/blokirovka
How much does a coin listing on bittim cost?
Listing on BIT.TEAM depends on the complexity of integration and the ideological component of your project. We are adding some interesting projects as part of the FREE listing, you can find out more by writing to the mail [email protected]
Are you recruiting And if so, of what professions?
Yes, we are, a detailed section with vacancies will be created at the link p2p.bit.team/careers, and in the future for the exchange there will be another link bit.team/careers