BAX is a utility token designed to keep the running of BABB (Bank Account Based Blockchain) running smoothly. For example, if you wanted to send a payment to another BABB user you would need to purchase BAX.
This ERC20 token enables users to send and receive payments to anyone around the world. Any fees would be paid in BAX from the sender’s end with the help of the Ethereum blockchain.
In this review of the BAX token, we will be revealing what it is and why we think it has a good reason to exist. We will also be sharing our thoughts on their decentralized banking app that uses blockchain tech. Currently, only a handful of other companies have utilized the blockchain for
But what BABB promises is banking for everyone no matter where you are around the world. If you have an internet connection then you can use BABB for everyday banking, charity campaigns and much more!
What Is BABB?
As mentioned earlier BABB stands for (Bank Account Based Blockchain) and is regulated by the UK banking regulations. But, what makes BABB different is its banking platform, which is runs of blockchain technology. So sending and receiving payments is fast, cheaper and more secure when compared to standard banking accounts.
The Blockchain is the future of banking! WHY? Because it’s fast, secure, traceable, non-reversible and a much cheaper alternative. Blockchain technology does not just work for the big altcoins, but many everyday systems are adopting blockchain technology just for the fact it’s stable and faster when compared to the standard now.
You still have a bank account number, debit card and sort code of sorts. But everything else is based on the blockchain. BABB is currently one of very few companies providing this service which looks set to increase in popularity as the adoption of blockchain becomes the norm.
The BABB Mission
The mission of BABB is to simplify cryptocurrencies through their payments platform. Not many people in the UK and around the world have adopted crypto because it can be complicated at times. With people avoiding it because of what they have heard in the news and the fear of total collapse is ever increasing. But the truth is that crypto is set to overtake the use of fiat currencies, with blockchain technology set to become a day to day necessity.
BABB’s banking app is easy to navigate for both beginners and advanced users of cryptocurrencies. You can instantly
- Decentralized banking platform
- Simplify cryptocurrencies
- Encourage banking blockchain tech
- Borderless transactions (with other BABB users)
- Take back control of your assets
- BABB Created in 2016,
- BAX token released in 2018
- Compatible with IOS & Android devices
Community Fundraising
Another point to make about the BABB platform is you can use it to create campaigns for any reason. You can use it for charity work, local football clubs or anything that you want to campaign for. This is not a charity token because we all know what happens to them. But more of a crowdfunding type service where you can receive and send from anywhere in the world while
Worldwide Fund Raising: One of the important points about their charity campaigns is that you can get funds direct to others around the world in need. So cutting out any high fees, fat cats and others looking to take a slice of your hard raised funds.
The BABB KYC Process
Like all serious banking/exchange apps, you need to confirm your identity. Especially for banking regulations and fraud prevention, it’s a simple process and takes a few minutes to get confirmed. A passport or driving license that is
The BAX Token
Here at Crypto Enabler we always look for utility behind a token, if there is no utility then the token is doomed to fail. With the BAX token, it has a good utility because you need BAX to make transfers within the BABB decentralized banking system.
The BAX token was first released in 2018 and has been trading ever since. It has had a few high points and looks set to increase in value over time. This ERC20 token runs on the Ethereum Blockchain and has a maximum supply of 50,000,000,000.
How Do I Buy BAX?
The BAX token is not sold on any major crypto exchanges but can be purchased from a decentralized crypto exchange (DEX). You will need Ethereum to purchase the token, so before you purchase your BAX tokens, you will need to purchase the Altcoin (ETH) from an exchange such as Coinbase or Binance.
Then send your Ethereum to your hot wallet and then you can connect to a BAX with Dapps or their website and make a trade from Ethereum to BAX. Currently, the Dex’s with liquidity are:
- Kucoin
- Uniswap
- Cointiger
- Bittrex
Is The BAX Token A Scam?
No, the token is far from being a scam. It has a utility and has been trading since 2018 with no signs or dumps or rug pulls. The BABB idea was created back in 2016, so the project has had a lot of planning from the team behind BABB.
They have a good mission of decentralized banking for all, which we believe will become normal for both businesses and personal everyday use. Added with the campaign section that lets you or your business collect funds from anyone around the world similar to “Go Fund Me” but built on the blockchain.
- Social profiles: Active
- Website: Very Professional Feel
- App: Easy to navigate and access for all abilities
The Breakdown Of $BAX ERC20 Token
- Audited – No
- Token type: ERC20
- Blockchain: Ethereum blockchain
- Number of holders: 14,208
- Max supply of coins:
- Revealed owner: Yes
- Contract BAX: 0x9a0242b7a33dacbe40edb927834f96eb39f8fbcb
- Our Rating: 6/10
BAX Token Whale Watch
There are no big 2 or 3% holders, the majority of holders are around 0.5% @x10 and moving lower to around 0.03%. So no big whales are waiting to drop their bag once the token makes some moves. Although there may be some resistance once BAX improves in the price range. They have 54% of their tokens held in a top wallet which is good to see.
Final Review Of BAX/BABB
The BAX token has a great reason to exist due to it being a liquidity token. The BABB platform offering its users a decentralized new banking system using blockchain technology to improve performance. With 14k already holding the BAX token, once the adoption of the BABB banking platform improves, the BAX token is set to greatly increase in value in the months and years to come.
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