Globitex Coin Review & Guide 2018

/Globitex Coin Review & Guide 2018

Globitex Coin Review & Guide 2018 2018-07-02T10:09:14+00:00
Globitex Coin Review & Guide 2018

Globitex (GBX): Complete Coin Guide

Quick inner navigation:

  1. What is Globitex?
  2. The Globitex Team
  3. The GBX Coin
  4. Is Globitex Tradable?
  5. Globitex Price Growth
  6. The Globitex ICO
  7. How To Buy Globitex?

Ever since the advent of digital currency, there has always been some new company with a grand vision to change the world. One of the biggest token ideas include the forced obsolescence of fiat currency by global acceptance of digital alternatives, and while Globitex cryptocurrency doesn’t exactly aim for that particular standard, it does at least seek to make a niche for cryptocurrency regarding the global markets.

What is Globitex?

Globitex is a cryptocurrency exchange for professional Bitcoin traders and institutions. Established in early 2017 in Latvia, the company’s founders have an ambitious goal for the platform. It offers advanced API solutions, a token and ability to trade crypto coins with fiat. Globitex is one of a kind exchange. To begin with, the exchange has a specific wallet for storing the Globitex coins. These assets cannot be stored in any other wallet. They also cannot be traded on any other exchange apart from Globitex.

Globitex offers its users a brand new exchange platform, which will enable them to trade both money and commodities in exchange for Bitcoins. Through Globitex exchange platform people may purchase various products and pay for all those with Bitcoin. Globitex ICO has used API to ensure the direct access to the market. Globitex is interested in making Bitcoin a more common and widely used medium of exchange in the global market, which will not recognize any limits in terms of demographics, politics, location or any other possible/ potential obstacles. To make all its goals a reality, Globitex has created a quite unique infrastructure for allowing people to trade with Bitcoin being the main currency. Along with these all, Globitex has its own token known as GBX token.

Globitex aims to become a spot trading platform where anyone can buy any listed digital asset with bitcoin. From gold to silver, corn to stocks, Globitex want to revolutionize how people trade with bitcoins. Globitex puts API technology at the core of its platform.  The company is currently investing in specialized IT solutions to bring numerous markets and valuable assets onto their platform. Additionally, the exchange will offer additional services to enable traders to set maturity for their digital assets. Although it was officially launched in 2017, Globitex has an interesting history that shows why it could be the next big thing in the industry. Its founders first thought about working with bitcoin in 2011. After frustrations with failed exchanges, they decided to start an exchange of their own. However, they didn’t want to open just another bitcoin exchange. They had a vision to totally help bitcoin improve liquidity. After launching a beta version of the exchange, they held and ICO to fund their ambitious project. The ICO culminated with the release of the Globitex coin, the exchange-provided token.

Is Globitex really necessary?

Basically, most of Globitex’s services are already available in other companies. However, Globitex promises to combine API power, commissioned tokens and select listed products whose value can easily be based on bitcoins. If Globitex utilizes proper marketing strategies, its services have the potential to benefit everyone who uses bitcoins. From valuing gold and trading it in the US and China markets to providing financial exchange services, there is potentially infinite demand for Globitex’s services.

Before the launch of the ICO, Globitex was an exchange platform providing liquidity for various cryptocurrencies; it is this platform that the ICO aimed to leverage into a global spot where everyone can trade commodities and money against Bitcoin among other cryptocurrencies.

However, beating the current competition will not be easy. With the wide variety of services available in the cryptocurrency industry, most successful companies specialize in specific niches. Alternatively, companies offer several services but lay more emphasis on a particular service.

Here is a list of services Globitex offers to enable and the market outlook:

  • Globitex as an exchange platform for bitcoins and FIAT currency. The problem here is that there are already established, million dollar companies like CoinBase doing the same.
  • Listing spot commodities. This is the company’s most unique service. There is almost no competition within this niche despite the fact that there is a huge demand for bitcoin valued product information.
  • Offers users who buy listed commodities with GBX tokens. This is a great idea that Simple token utilized and achieved 189% success on their token pre-sale campaign.

The Globitex Team

The Globitex crypto-team is a tightly-knit group of professionals with experience working in asset management, including trading commodities and derivatives on global futures and derivatives exchanges in China, Japan, USA and Europe.

In addition to their experience, they bring a certain amount of other skills to the table from other associated fields like law.  The team has big ideas and plans to get them off the ground, with at least one team member, the co-founder, and managing director Liza Aizupiete, who is very responsive to inquiries from the public on social aggregate sites like Reddit.

The GBX Coin

The Globitex (GBX) coin is an ERC-20 token developed on the Ethereum platform. It’s a store of value and a settlement coin for trading digital assets on the Globitex trading site. GBX coins are all pre-mined and the exchange plans to burn them after ten years if an extension date won’t be approved. Besides acting as a settlement token, traders can also redeem GBX coins for commissions. GBX coins will also be rewards given through loyalty programs. Again, the token will offer traders special bonuses. Using GBX coins to settle trades will attract a 20% bonus for every trade made. Globitex initially targeted to release 10 billion GBX coins. 80% of the coins were to be distributed in the ICO while the remaining 20% of coins were awarded to the company’s employees. However, only 65% of the tokens were distributed while the rest, 35%, were distributed to employees. The GBX tokens will be available on the Globitex exchange only at a later date. However, you can also reach out to the exchange to purchase the tokens from investors privately.

The Globitex coin serves as a store of value for Bitcoin and other cryptocurrencies. The coin’s founders aim to allow producers greater purchasing power regarding exchange-listed products for Bitcoin. They do so by positioning GBX as an intermediary between BTC and the purchase of common market items, such as derivatives and other commodities, thereby increasing Bitcoin’s liquidity with the ultimate aim of having Bitcoin and other cryptocurrencies take over as the medium of global exchange. 

Globitex posits that the problem with Bitcoin is a matter of scale. At the appropriate scale, Bitcoin would be able to purchase not only market-items but common real-world items, such as coffee and sugar. This would be made possible by a substantial increase in Bitcoin’s liquidity. At an even greater scale, Bitcoin would gain the ability to settle trades for import and export on both a regional and international level for both production and consumption goods.

65 percent of GBX token pool sold to contributors and 35 percent is allocated to the Company for future use. These uses include five percent for bounty and referral programs; ten percent for business development, and two tranches of ten percent released every consecutive year after the token sale. The Globitex token will allow users to purchase products on the Globitex platform at a 20% discount.

Is Globitex Tradable?

Globitex is a utility token that will have its uses on the Globitex exchange site. At the moment, the token is not listed on the exchange. But once available, investors will be able to buy the coin and use it as settlement tokens for assets listed on the platform. GBX tokens will only be traded on the Globitex exchange site.

Globitex Price Growth

Globitex concluded their ICO phase in mid-March. They raised their targeted hard cap of $12 million and distributed the GBX coins to investors’ wallets. However, the token is yet to be listed on the Globitex exchange. As such, the coin’s value is yet to be determined. The company behind Globitex aims to unfold the coin’s future within easily meetable benchmarks spread out over the next year. These include launching other crypto and fiat trading pairings; OTF (Organized Trading Facility) Licensing; REPO trading. A BIBOR (bitcoin inter-broker offered rate) launch; Listing of Bitcoin Priced Globitex Commodity index-GCOM; a listing of cryptocurrency futures; listing of bitcoin settled commodity futures; swaps and vanilla options; Physically Deliverable Precious Metals and by the end of 2019, other Physically Deliverable Commodities.

The Globitex ICO

Globitex raised €12,700,000 after the ICO period (four weeks). 65% of all pre-mined tokens were distributed to investors while the remaining 35% were held for use by the company and its employees. The Globitex ICO was pretty hyped up on ICO review sites and forums. On Reddit, nearly all contributors seemed to agree that the company had a great project with lots of potentials if well managed. On review sites, the ICO had high ratings, indicating great popularity with ICO investors.

In November 2017, the Bank of Lithuania granted an e-money license (EM) to NexPay UAB, the group company responsible for Globitex Holding (Latvia), allowing them to offer payment services and e-money issuance in the European Union. Beginning in March of 2018, the initial coin offering lasted for twenty-four hours. Globitex sold out its original coin offering in a matter of hours, raising seven million Euros worth of GBX in its initial coin offering.

Globitex held an ICO between February 10th and March 13th, 2018. The company had set their goals and distribution strategies in the following ways:

  • Token Symbol: GBX
  • Hard cap: €10 million
  • Tokens: 10 billion tokens, all pre-mined
  • Cost: €0.1
  • Minimum contribution: €10
  • Maximum Contribution: €3 million

How To Buy Globitex?

As of now, Globitex wallet is proprietary, and cannot yet be transferred to any other wallet service. Globitex stores all its cryptocurrency keys in a combination of both online and offline storage. It may cause a delay of up to 48-hours for the transaction as Globitex may need to acquire information from offline storage to perform a transaction. Globitex is not tradeable except on the Globitex exchange. Its three most common fiat to digital pairings are the Euro and Bitcoin, Bitcoin Cash and Ethereum. There are plans for more pairings in the near future.


Globitex may end up being the way of the future for global exchange, or it may become a footnote in the history of cryptocurrency – it’s really too early to tell. Globitex has unique and pioneering objectives which if achieved will revolutionize the bitcoin exchange industry. The exchange aims to avail some of the most valuable assets on the exchange, including gold and precious metals. Globitex has a team of dedicated and qualified experts who can truly work toward actualizing the company’s goals. And if that happens, investing in the Globitex platform will result in high gains in the future. No one has made money from investing in GBX tokens yet but once the exchange avails the token on the exchange lists other digital assets, GBX tokens will become valuable.

Globitex is not for the average investor, but instead of exchanges, hedge funds and other such financial institutions involved in both digital and physical commodities exchanges. While as of this writing, Globitex has yet to expand to include any physical commodities, there are distinct plans to expand the operation by the end of 2019.

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