Bermuda Coin Review : Is It Good Or Bad Coin Read Our Article

About Bermuda Coin

Bermuda Coin is a fully decentralized “Devil’s Triangle”, providing anonymity & security to all users when depositing ETH into the anonymity pool, followed by a simple withdrawal of the ETH anonymously into any wallet of their choosing, all without cost. Your protocol improves transaction privacy by breaking the on-chain link between source and the destination address.

Transactions processed with the BMDA protocol contacts the smart contracts which accepts the cryptocurrency deposit from one address and enables the withdrawal to an address of ones choosing. It’s truly a decentralized service provider, which will offer a variety of different and unique tools, for the betterment of your ecosystem, which will highly benefit your users.

Bermuda Coin Point Table

Non-Custodial Privacy

Your smart contract and dapp are highly scalable and it is your expectation that the Bermuda service will be widely adopted to other layer 1 and layer 2 blockchains as the demand for services develops. When sending your tokens to a recipient’s wallet address, you can send any amount of your deposited balance of that particular token – Bermuda is unique in many ways, one of your key features is that token payment amounts are not a preset value and your tokens are sent directly to the recipient and not converted in any way, so you can only send tokens that are in your Bermuda account and only one token type per transaction.

Example; If you deposited 307 USDC into your Bermuda account, you could send 58.25 USDC to a recipient, you would only have the option to send it as USDC if that is the only token in your account. The recipient of your transaction will receive the USDC tokens you have sent them (less a transaction fee, if applicable), and the transaction be deployed from one of our Bermuda smart contact addresses.

What Makes Bermuda Tick

• Sender makes an Ethereum payment from the free Bermuda app.
• Transaction Interacts with your smart contract to confirm the payment.
• Bermuda smart contract directs payment to the Bermuda wallet which mixes the payment with many other transactions.
• Final payment arrives in the receivers wallet masking the senders original wallet address.

Why Choose Bermuda Coin?

Transaction Fees

Sending funds through Bermuda will incur a 2% transaction fee for non-BMDA holders. Users who hold the prerequisite amount of BMDA tokens in the wallet they have connected to the Bermuda service will not incur any transaction fees.

BMDA Tokenomics

BMDA is a deflationary native/governance token for the Bermuda protocol. It has a maximum total supply of 10,000,000 tokens (fully deployed at launch). The maximum total circulating supply will decrease over time as BMDA tokens are burned and no new BMDA tokens will be minted. Holding the BMDA token will give the holder voting rights in the future direction of the Bermuda protocol including token asset listing requests. The Bermuda protocol is funded by the BMDA 5% token sales tax and a portion of the 2% transaction fees for nonBMDA holders.

BMDA Taxes

There is a 0% purchase tax applied to the Bermuda contract – Users are not taxed when buying BMDA tokens. There is a 5% sales tax applied to the Bermuda contract – Users are taxed when selling BMDA tokens at a rate of 5%.

Project Sustainbility

The 5% sales tax supports the Bermuda protocol with the project receiving 2% for development, 2% for marketing and 1% rewards. Your project is complex, yet efficient, the marketing and development taxes received upon tokens being sold by holders will enter the contract as ETH – this allows your project to be developed further with marketing campaigns to be constructed and deployed efficiently to ensure the Bermuda protocol is heavily used.

The rewards portion of the taxes is received to the contract in the form of the BMDA tokens. This will be used for exchange listings or supply reduction to ensure the tokens value is raised over time with the supply becoming increasingly limited.

Where Can You Buy Bermuda Coin?

Tokens Can Be Purchased On Most Exchanges. One Choice To Trade Is On Uniswap (V2), As It Has The Highest BMDA/WETH. e Trading Volume, $8,947 As Of February 2021. Next is OKEx, With A Trading Volume Of $6,180,82. Other option To Trade Include BMDA/WETH And Huobi Global. Of Course, It Is Important To Note That Investing In Cryptocurrency Comes With A Risk, Just Like Any Other Investment Opportunity.

Market Screenshot

Bermuda Coin Supported Wallet

Several Browser And Mobile App Based Wallets Support Bermuda Coin. Here Is Example Of Wallet Which Bermuda Coin – Trust Wallet For Hardware Ledger Nano.

FAQ Of Bermuda Coin