BIGB Token is an Indian digital currency used as a transaction token on any BIGH BULL Technosoft LLP, Copy, and Bot trading platforms. In addition to that, it is the base coin of the crypto exchanger COTOEX launched by BIGH BULL Technosoft for crypto trading. It is a transactional token and as a currency can be used for online shopping, retail stores, and logistics. BIGB Token is a digital payment system that doesn’t rely on banks to verify transactions. It is a peer-to-peer system that can enable anyone anywhere to send and secure payments. The Term crypto token refers to a unique virtual currency token or denominated cryptocurrencies.
Bigh Bull Technosoft LLP was founded by Mr. Ravindra Potdar who has 22 years of rich experience in IT industry. Since 2016 he is actively working in Blockchain technology being responsible for many cryptocurrency projects like Crypto Coin Exchangers, Crypto Wallets and Smart Contract. In a formal chat with Indian Economy & Market he speaks in detail about this unique product.
Bigh Bull is supposedly a solution and a tool for cryptocurrency. Can you specify what actually it is?
Bigh Bull is a blockchain-based token that is distributed across an oversized number of computers which makes it nearly impossible to counterfeit or double-spend. Basically, it is a system that allows for online secure payments, which are denominated in virtual tokens. It totally works on decentralized networks that work on blockchain technology, a system of recording the knowledge exceptionally; that makes it very difficult or impossible to vary or cheat the system. It is now Bigh Bull’s initiative to bring balance between the System and the government of India because this structure works to exist outside the control of governments.
Cryptocurrencies adoption continues to be in momentum partially due to the world’s progression towards a cashless society. But Bigh Bull is dedicated to keeping own crypto limited to assets and not replacing general currencies in the future. However, it will take time before it comes into the mainstream sector, given the strong disagreement from regulators worldwide. As far as our vision is concerned, blockchain is the need of the future. With the industrialization and involvement of technology, it’s gaining a good position over others. Many people are adapting to this well-known technology through cryptocurrency. It’s easier to transfer funds directly between two parties, without the requirement for a trusted third party like bank or other institution.
What are the advantages of Bigh Bull as a crypto asset?
First of all it protects from inflation. Inflation has triggered many national currencies to urge their value to decline with time. So at the time of launch, a fixed amount of Bigh Bull was released. The computer file specifies the number of tokens and there is only 90 crore Bigh Bulls released across the globe during its PUBLIC SALE or ICO. So, as the demand increases, its value will increase which might maintain with the market and in the long run also prevent inflation.
Secondly, it is self-governed and managed. Governance and maintenance of Bigh Bull is robust yet simple for its life which gives it an advantage over other crypto assets. Since the Bigh Bull is on the Binance Blockchain, it keeps transaction records accurate and up-to-date, keeping the integrity of the crypto asset and also the records decentralized.
Third, a major ace of Bigh Bull as crypto is that it is decentralized. The decentralization that comes after public sale or ICO, will keep the Bigh Bull monopoly free and in check so nobody or any organisation can determine the flow and so the worth of the Bigh Bull which will keep it stable and secure, unlike fiat currencies which are controlled by the Government.
Is it cost-effective?
Yes, I was coming to that point. It is very much a cost-effective mode of transaction. One of the most uses of Bigh Bull is to share it across users. With the help of system, the transaction fee paid by a user is reduced to negligible amount. It does so by eliminating the need for third parties, like VISA or PayPal, to verify a transaction. It removes the requirement to pay any extra transaction fees.
How it can be bought?
Bigh Bull can be bought using many points like Google Pay/ PhonePe, or other online payment options. Once released on the exchanger post-ICO, trust wallets and exchanges help convert the crypto asset into another by trading in cryptocurrency, across different wallets, and by paying minimal transaction fees.
Please also remember that it is easy to transfer funds. Transactions, whether international or domestic in Bigh Bull, it is at lightning-speed because the verification requires little time to process as there are only the few barriers to cross.
How you would like to assure investors?
Privacy and security have always been concerns for cryptocurrencies. But the blockchain ledgers are hard to decode. It makes cryptocurrency safer than ordinary electronic transactions. Cryptocurrencies are far better secured and have privacy, and they use special program names that are unconnected to any user account or stored data that might be connected to a profile.
How you control illegal transactions?
Since the privacy and security of cryptocurrency transactions are high, it is hard for the government to trace down any user by their wallet address or keep tabs on their data. To maintain the lawful environment, Bigh Bull works with mandatory KYC process to know the user before they buy Bigh Bull as an asset.
Any risk of data loss?
The developers wanted to make virtually untraceable files, strong hacking defences, and impenetrable authentication protocols. It would make it safer to position assets than physical cash or bank vaults. But if any user loses the private key to their wallet, there is no getting it back. The wallet will remain locked away along with the number of Bigh Bulls inside it. It might result in the loss of the user. However,
cryptocurrencies are known for their feature of being decentralized, the flow and amount of some currencies within the market are still controlled by their creators and some organizations. Hence Bigh Bull has declared in its white paper that nobody can mine or recreate the new amount of tokens to manipulate the control.
What about taxes?
India bound users are registered via KYC and it forces the user to convert these assets into the national currency. It helps the RBI and government of India to keep a track and collect the taxes. Unlike other cryptos present in the market, Bigh Bull not only follows the tax structure of India, but also initiates to build the infrastructure of India by reinvesting the revenue back in the system via infra projects.
What initiative you have taken in this regard?
Regarding this Bigh Bull has successfully tied up with few companies namely, Tata EV Motors for EV charging Station Network of 1000; All miles cab services for Domestic commission-free travel; Solargica Power Private Limited for sustainable energy solutions and Saio Infra for tourism projects.
How you handle refund or cancellations?
If there is a dispute between concerned parties, or if someone mistakenly sends funds to a wrong wallet address, the coin cannot be retrieved by the sender. It might be utilized by many folks to cheat others out of their money. Since there are provisions of KYS, one can easily be supported by Bigh Bull to track the transaction and find out the best resolution. Bigh Bull is India’s first crypto to provide post-sale service and support. This service will be without any additional cost and provided especially during the public sale to educate buyers.
Like other crypto does it too need consumes energy?
Mining cryptocurrencies require plenty of computational power and electricity input, making it highly energy-intensive. Mining Bitcoin requires advanced computers and plenty of energy. One cannot do it on ordinary computers. Major Bitcoin miners are in countries like China that use coal to produce electricity. It has increased China’s carbon footprint tremendously. Hence Bigh Bull successfully managed to avoid mining and energy consumption, in a way Bigh Bull is the green crypto as well.
Anyway is it vulnerable to hacks?
Although cryptocurrencies are very secure, exchanges don’t seem to be that secure. Most exchanges store the wallet data of users to figure out their user ID correctly. This data is often stolen by hackers, giving them access to lots of accounts. Hence Bigh Bull has come up with the best wallet in the world and its own transaction platform to perform KYC and Purchase online with www.cotoex.com