Biconomy (BICO) Now Available on INDODAX!
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Biconomy (BICO) Now Available on INDODAX!

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Biconomy (BICO) Now Available on INDODAX!

Biconomy (BICO) Coin - INDODAX Academy

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This week, the BICO crypto asset will be listed on INDODAX. Open deposits will start on June 21, 2023, at 14:00 WIB, and open trading will start on June 22, 2023, at 14:00 WIB.

Biconomy is a multichain relayer protocol that aims to improve user and transaction experience on decentralized applications (DApps).

Biconomy works with the ERC20 network, you know. Curious? Come on, read more here!

Data and Information

An international team of blockchain entrepreneurs founded Biconomy.

Ahmed Al-Balaghi, co-founder of the project and an alumnus of Queen Mary University, previously worked for Viewfin, a leading Chinese blockchain company.
Indian blockchain entrepreneur Sachin Tomar, who has a background in software engineering.

Aniket Jindal, who previously worked on blockchain projects in the UAE.

Some leading blockchain ventures capitalists, such as Coinbase Ventures, Binance Launchpad, Mechanism Capital, Huobi Ventures, and others, back Biconomy.

This project aims to make web3 products as intuitive and easy to use as web2 products.

Biconomy offers the infrastructure to overcome some of the web3 bottlenecks:

  • The Protocol can activate users without paying gas fees.
  • Users can pay for gas with their choice of ERC-20 tokens.
  • Users avoid blockchain complexities such as network changes.
  • Transactions are confirmed much faster.

In short, Biconomy focuses on managing transactions and optimizing gas and can reduce gas costs by up to 40%.

To achieve that, the Protocol uses transaction meta, which allows users to submit transactions without gas and have a third party pay a transaction fee for the user.

By providing a non-custodial and gas-efficient delivery infrastructure network, Biconomy can do this at scale.

Biconomy offers solutions to common problems in the blockchain space. For several reasons, interaction with decentralized applications is not as smooth as with web2 applications.

For example, a web3 application may incur fuel costs, but there is no equivalent of paying a usage fee for a web2 application.

Gas fees on the Ethereum network are always paid in ETH, although users may not want to spend their Ether.

Also, onboarding new users can be tricky as it requires proficiency in using web wallets, signing transactions, and understanding the ins and outs of gas.

Biconomy solves this with a relay infrastructure network that is already used by several protocols:

Curve Finance uses Biconomy to do meta transactions to make gasless BTC deposits.
In this case, users can use their unused BTC to provide liquidity without paying for gas to exchange it for RENBTC.

Perpetual Protocol offers gas-free transactions to its traders on the xDAI chain thanks to Biconomy.
Users also enjoy blockchain-agnostic transactions as there is no need to change the RPC URL in their web wallet.

Decentral Games provides a smooth gaming experience to its users by eliminating fuel costs with the help of Biconomy.
Players receive in-game currency and do not need to hold MATIC for transactions on the Polygon blockchain used by Decentral Games.

Sapien Network is a social blogging platform that also allows transactions without gas. New bloggers can transact SPN for free on the platform.

BICO crypto assets

CoinMarketCap’s current ranking is #163, with a live market capitalization of USD 126,100,153. It has a circulating supply of 556,461,300 BICO coins and max. Supply not available.

How to Buy BICO Crypto Assets on INDODAX

For those of you who want to buy BICO crypto assets, you can buy them on INDODAX starting June 22, 2023, at 14:00 WIB. Here’s how to buy it:

  • Those who still need to become a member can register directly at INDODAX.
  • After that, make a deposit, and if you need clarification, you can read how to make a deposit here.
  • After your deposit and balance are entered, you can return to the INDODAX market.
  • Look for BICO on the IDR market, then click.
  • After entering, you must buy by filling in your balance and at what price you want to buy BICO. You can also buy it instantly or directly at the current price.
  • After that, you need to wait for the price to increase for some time
  • After the price increases, you can sell at a higher price with the instant method
  • If you sell with the limit method, you can place an order after buying. Make sure you enter a higher number when selling.
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