FAMEEX Exchange AMA Recap

INTRODUCTION

Arnold, FAMEEX Mod Leader: FAMEEX AMA is ON! I’m FAMEEX Mod leader. I’m happy to be your host today.
David, FAMEEX COO: Hello everyone. This is David. I’m FAMEEX Global Chief Operating Officer. I’m happy to be here today.
Arnold: Hi David, happy to have you with us today as well.
David: Hello Arnold, thanks for having me.
Arnold: Thank you for taking your time to be here with us today :)
David: Sure my pleasure. As you may know, we just upgraded the Global Agent Program at the beginning of November. After this launch, we also have a sign-up event to go with it to thank our traders and crypto leaders for joining us.
The reason why we wanted to do this AMA is that we find that many FAMEEX users still have limited understanding of FAMEEX as a company and there is a great demand for information and transparency from CEX especially with regard to recent events.
We also want to do an AMA to promote our new events and referral program so more people can join FAMEEX and benefit from the growth especially in this market downtrend.


Arnold: Could you please give us more information about FAMEEX?

David: Sure!
FAMEEX Launched in 2020. We are a global cryptocurrency exchange that currently provides fiat-crypto, crypto-crypto, grid trading, futures, options, margin, spot and various different referral programs.
We have over 200k users across 50 countries and regions.
We have been continuously online since 2020 with our API handing over 56 million requests.

Arnold: Where is FAMEEX based?

David: Our HQ is Australia but our team is based all over the APAC region.
I’m based in Taipei and we communicate all day with our team members in the timezone which covers Australia, Singapore and Europe towards the end of the day.
We chose Australia to have our HQ because of the good regulation setup we enjoy in Australia. The rules are very clear and simple.
This region has a very good network for cryptocurrency and finance and we have had no problems working here.

Arnold: When was the exchange founded? How many people on the team did you start with and how many are currently working in the exchange?

David: We have more than 50 full time employees as well as dozens of contractors.
In the beginning, I believe we had only 4 founders and 4 employees.
Since we have so much going on on the development side, we have the web platform, the android app, the iOS app, and devops as well as SEO and designers.
It takes a lot of resources to keep developing new features and maintaining the website, then alongside that we have all the business operations and marketing staff for the News center, the Learning center, so we have writers and graphic designers and editors and as well we have community managers and moderators who do the vital work of representing fameex to the community. And customer service tech support employees which is a core part of our business.
If you are interested in working for us you can apply on Linkedin. We are Always hiring for lots of different roles.

Arnold: What regional communities do you currently have and what is the total number of audience in social networks?

David: Yes, we keep expanding our communities globally. Now we have multiple language communities like Russian, Turkish, Spanish, Korean…, etc. You can find our different language communities on telegram.
We are also present on social networks Twitter, YouTube, Reddit, Bitcointalk, Discord, Instagram, and Linkedin. We want to reach the widest possible number of people.


Arnold: What was the purpose of creating such an exchange?

David: Our purpose is to be the Fast Matching Engine Exchange. To bring speed and confidence to the trading experience. We are a crypto trading tools platform, we provide low risk tools to help traders, we are not a financial institution, our focus is on letting our traders trade to the best of their potential.
We’re NOT in the business of finance and lending, I think that’s the most important point to emphasize. We don’t see any advantage in that side of the industry.
Also, to popularize the blockchain and crypto, and give everyone the opportunity to earn money and be part of the space.

Arnold: Since you mentioned about the tools, what are the tools on the exchange that help trading?

David: If you go to the quant section we have “DCA” and “Grid Trading”. These are really neat features.

Arnold: What is Grid Trading?

David: Grid Trading is a type of quantitative trading strategy, that gives traders an opportunity to capitalize and scalp on the fluctuating crypto price.
Grid Trading automatically buys low and sells high 24/7 without the need for human intervention. This trading bot frees up traders’ time while providing automatic trading discipline. The philosophy behind grid trading is "Buy Low and Sell High".
A trader predicts that a certain crypto asset will fluctuate around a price range, the strategy then profits by making profits on small fluctuations in price. This quant tool works best in sideways trading markets with small price fluctuations, it helps traders stay rational and avoid FOMO.

Arnold: Besides Grid Trading, what do FAMEEX offer users?

David: FAMEEX also supports spot, futures and options trading.
Futures have started to play a pivotal role in the crypto markets in recent years. Futures gives advantages to traders who like to gauge the market trend in either bull or bear markets. In 2021 FAMEEX launched its USDT Margined Futures product.
FAMEEX launched options trading with 3 minute and 5 minute timeframes. Which was last month. It’s currently available on our App. The team worked really hard on the UI for that and it is a great experience, very quick, very easy to make profit quickly with a known risk level, I think people who try it will really like it.

Arnold: Is it possible to make money by attracting other traders to the platform?

David: Yes!
FAMEEX has released the upgraded Global Agent Program for crypto and financial influencers. This upgrade makes the Global Agent Program one of the most lucrative crypto exchange affiliate programs in the industry. From this Global Agent Program you can earn up to 2000 USDT per month.
There are now no minimum requirements to start earning through the program, instead, you get a fixed commission per invitee. It’s also cumulative so you can really earn a lot of money like that.
To join Global Agent you just need any social media with at least 5k followers. You can also do Global Agent as well as super rebate at the same time where you can get an extra 60% commission on trading fees.
We also created a live dashboard so you can track all your affiliate program information. It’s a really good way to earn money as an influencer.

Arnold: What do you think the bear market will end? and how can we make money in the bear market as a trader?

David: I think what we are seeing is a flat market in the past 3 to 4 months which is often more unnerving for traders than a strong up or down trend and lack of volatility is bad for exchange volume and is boring for traders.
We are in a period where it is easy to be wiped out by shorting or longing, we understand that for traders‘ psychology this is bad, we want traders to keep making money so that way they stay on our platform. it’s very bad if traders are wiped out, they will not return and we lose our fees and everything gets worse.
We have limited the leverage on our platform to a maximum of 30X. That way there is less temptation to take those huge risks, and we as an exchange get no benefit from a trader who loses money.
One of the other things we have is that back in June we implemented grid trading mentioned earlier, which is a very low risk way of taking advantage of a low volatility market.
That’s more like a set and forget function that is very interesting to play in this kind of period. The most important thing is that we listed about 24 new projects on FAMEEX to allow some other options for our traders and particularly projects like loopring and TWT have been profitable longs recently.

Arnold: What will be next for FAMEEX?

David: FAMEEX has established itself over the past 2 years in the crypto derivatives market and is consistently operating in the futures trading broker sector. We follow the philosophy of "Secure global crypto exchange with quantitative trading", FAMEEX aims to offer its users comprehensive and secure trading solutions, integrating DeFi with CeFi in the future roadmap.
At the moment we are seeing rapid expansion in the number of traders trading on the platform, the team here is really positive about the future despite the macro downturn in the markets.
I think the most interesting thing is that we are aiming to implement Web3 features and this could mean some aspects of tokenization of the actions users take on the platform.
Our focus is definitely on being the best crypto trading tools platform, we want to provide low risk tools to help traders, we are not a financial institution, our focus is on letting our traders trade to the best of their potential.
We’re NOT in the business of finance and lending, I think that’s the most important point to emphasize. We don’t see any advantage in that side of the industry.
I think those principles have served us well and we will continue to go along this path.

Arnold: Are there any plans to issue your own token or NFT market?

David: It may happen at some point in the future.
As an exchange, we are looking at ways to integrate Web3 into our exchange. We do have a number of Web3 goals on our roadmap. NFT and a platform token could both be in our future roadmap. But we are in discussions with our legal team, we need to follow regulatory advice and stay on the right track. The most important thing for us right now is providing a stable trading platform.


Arnold: Thanks for your answering. Now we received several questions from our members. We’ve selected several questions for you to answer and later we will select winners to get rewards!

Arnold: As you may know, people are wondering, when will FAMEEX be Listed on CMC?

David: The truth is, we don’t know.
We are in communication with CMC and we have specialists working on CMC, there are a number of requirements that we need to meet regarding CMC, such as updating our API which we pushed last Wednesday, and various other requirements, we understand at the moment that CMC has a very long queue for new listings of exchanges so we are very hopeful that FAMEEX will be listed on both CMC and Coingecko in a short time.
Also, FAMEEX is in the process of an exchange security audit with a third party audit company that will provide a trust score for our exchange and we are pretty confident that after this process runs through we will have no problem being listed on Coingecko and CMC.

Arnold: Which tokens are the most profitable to invest in now and why?

David: If I knew the answer to that I would be very rich!
I think the metaverse hype cycle could come back at any time. I think there are many innovations and products in that space, so look out for tokens such as SAND and MANA or coins like MATIC that have been working on partnerships in that field.
I think the key is to diversify. And to take profits on any trade long or short. If you are in profit, you can never sell too early. I say, Always leave some for the next guy.

Arnold: When will FAMEEX list Monero?

David: No plans to list Monero at the moment. We have to abide by certain reporting requirements when it comes to transactions to and from our exchange in order to comply with Australian regulations.
We have to be able to be sure that financial transactions are not coming from entities that are involved in crime.
At the moment with Monero we are unable to fulfill this requirement.

Arnold: We’ve got this question from one of our members saying, “I am a Japanese user. Asia has seen a lot of interest in crypto in recent years. How focused is FAMEEX on the Asian market?”

David: Asian market is a huge market and we are absolutely committed to serving that customer base. Unfortunately Crypto trading is banned in Mainland China so we are not currently serving that market. We have a large and rapidly growing userbase in South east Asia, East Asia, and also India and Pakistan. Outside of Asia we also launched a Portuguese language localization of our site in order to enter the Brazilian market

Arnold: One of the biggest issues in the crypto market today is privacy and security. What are the methods to help prevent users of your platform from being hacked and having their assets stolen?

David: Thanks, that is a good point to raise. The most important thing is that users themselves have good security habits, don’t re-use passwords on different platforms, don’t let anyone else access their phone or PC.
Outside of that FAMEEX has the best possible security for a crypto exchange, we have forced 2-FA with email and the option to bind your phone. We also provide the ability to whitelist withdraw addresses so that anyone accessing your account cannot withdraw to another address without the account being locked for 24 hours.
Also we have dedicated security engineers to look after the servers and our back end systems. I don’t think you can find any exchange that has better security than FAMEEX. But the most important thing is we keep reminding people to actually use the security features that we provide to the maximum extent.

Arnold: Do you have bonuses for newcomers to the platform?

David: Yes, we are currently running a new event for newcomers!
We launched a new sign-up bonus campaign recently. New traders will have the opportunity to earn up to 1000 USDT rewards from their first deposit exceeding 10 USDT and trading volume in spot and futures over 100 to 1000 USDT.
And if they invite at least 3 friends to join, they will get a lucky draw. You can find all the info for this event and other events in the Events section of fameex.com or you can find them on Twitter.

Register NOW! Win 1,000 USDT in Crypto Prizes!