Hotbit is one of the professional digital asset exchange platforms that provide trading services among major digital currencies like Bitcoin, Litecoin and Ethereum for users from all over the world.
We are firm believers of the core values of Bitcoin and Blockchain technology. We believe the core principles of Bitcoin, the blockchain, the distributed ledger and smart contracts can reshape the ways in which people trust each other. This transformation will eliminate barriers to transactions, increase the efficiency of transactions across society, and eventually have a significant impact on the global economy. Our mission is to provider a safer and more convenient blockchain assets exchange service; integrate world’s leading blockchain assets and construct a world-class blockchain assets exchange platform.
The core members of our team have all gained in-depth experience in both traditional financial and cryptocurrency industry. With successful entrepreneurial experience, experienced global investment consultation team and various cooperation partners, our platform is set to attract liquidity from various resources, which in turn provides support for the smooth operation of our platform as well.
Hotbit has adopted advanced technologies such as GSLB, distributed server clusters, distributed storage, and a high-speed memory-based trading engine all backed up in multiple machines, cold storage locations, and hot wallets with offline private keys. Our safe, stable and reliable digital asset trading services are delivered to our customers via web interface, mobile app and PC terminals.
Introduction to Digital Assets
Digital assets represented by Bitcoin have seen significant growth as an innovative practice of internet technology since 2009. Today, there are tens of millions of Bitcoin and other digital asset users in over one hundred countries around the world. Many public figures in the world have compared Bitcoin to the invention of the Internet and believe that Bitcoin and its underlying blockchain technology is the foundation of the “internet of finance”, and that is has the potential of re-building the global financial system from its very foundations.
As Bitcoin and blockchain become increasingly popular around the globe, many world-class venture capital firms and entrepreneurs are pouring into the industry. A Bitcoin and blockchain based economy is already in the early stages of formation. On a global scale, Google, Goldman Sachs, Softbank and NYSE along with many other world leading companies have invested in multiple start-up companies in this field. Bitcoin and blockchain will certainly find applications in fields like banking, securities, insurance, audit, and notary over the next 5 to 10 years. The total economic value contributed by Bitcoin and blockchain technology may well reach into the hundreds of billions of US dollars.
Bitcoin has gained an accumulated rise of over 1100% in its price within 2017. With the rise in its price, the market cap of Bitcoin has also surged to a new peak. After surpassing Wall Street giants like Goldman Sachs and Morgan Stanley in market cap, Bitcoin’s market cap is set to challenge Forbes List soon. By January 1st, 2018, according to the data provided by http://coinmarketcap.com, the overall market cap of global blockchain industry has exceeded 600 billion US Dollars.
Currently, mainstream industries in this world hold 5 viewpoints towards Bitcoin and blockchain technology, with a consensus slowly being formed. These are:
1.Bitcoin is a virtual good and is similar in many ways to more traditional investments.
2.Bitcoin is a peer-to-peer payment method and has the potential of challenging Visa’s market dominance.
3.The Bitcoinblockchain, as an underlying blockchain, can provide consensus solutions to other public blockchains, with Bitcoin itself as the fees for this service. Because of this, the Bitcoinblockchain may become the infrastructure on which all other blockchain applications are built in the future.
4.Bitcoin is a virtual currency on the Internet. It has some attributes of traditional currencies and some attributes of traditional payments systems in certain internet communities.
5.Bitcoin is a reserve asset like gold, and because of its standardization, divisibility, and the ability of conducting online transfers, it has great advantages in many aspects such as payment efficiency, preservation cost, and more. Because of this, it has the potential of becoming a form of “digital gold”, and is therefore an asset with the possibility of replacing gold in the Internet of value era.
Most countries do not recognize Bitcoin as currency, instead defining it as virtual good. Nevertheless, many jurisdictions have established regulations or have actively started to support its growth. The overall attitude of regulatory bodies is now changing from a neutral view to a positive one. The United States itself has included Bitcoin into the traditional financial regulatory system, with Bitcoin companies being required to apply for MTLs (Money Transmitting Licenses). The state of New York has introduced BitLicense for the exclusive regulation of Bitcoin. Many European countries have also been adopting positive attitudes towards Bitcoin. Some countries have established regulatory a framework for Bitcoin, with some of these insisting that Bitcoin-involved economic activities should be subject to traditional taxes. The FSA of Japan has officially recognized Bitcoin and digital currency as a legal currency, and has ruled that all digital currency exchanges must register with them. The Russian government issued a ban on Bitcoin in the past, but has revoked it after many other jurisdictions published their regulations. The governor of the Indian central bank RaghuramRajan said that before we have a consensus on the potential of Bitcoin, we should study it in-depth instead of act too forcibly.