The popularity of cryptocurrency derivatives has grown and has seen a spotlight on adoption in the last two years. Many investors in Crypto derivatives have chosen digital currency over different foreign currencies and precious metals.
BTSE Exchange, a cryptocurrency exchange, is ready to steer the charge these days. The market capitalization for spot traders announces BTSE as the fourth-largest cryptocurrency on 29th July. Let’s discuss the advantages and disadvantages of this cryptocurrency with respect to different aspects. . Now, let’s dive in.
What is BTSE?
BTSE stands for Bitcoin Trading and Securities Exchange. The mission of BTSE Exchange is to empower individuals in a way that they can supervise their monetary destiny by using technology e.g. Bitcoin and cryptocurrency.
Can I use the BTSE exchange in the US?
The US citizens are criticised and refused by many exchanges to open their accounts with them. The main reason is the SEC (Securities Exchange Commission).
Why is the SEC so scary? It is because US Law forbids foreign corporations to contact US investors without registration with the SEC as well. In such cases, the SEC will sue foreign corporations if they fight to solicit US investors.
It is still not clear whether people of the US are permissible on the BTSE Exchange or not.
Does BTSE do KYC?
Yes, BTSE Exchange needs KYC (Know Your Customer). ID verification is also must. This method consists of two steps:
- Process of verification comes under Step 1. Your full name, phone number, date of birth, citizenship, and country of residence are needed in this step. An ID card, such as a driver’s license, national ID card, or passport must also be uploaded.
- In step 2, your residential address is needed. You must provide documentation such as a credit card bill, utility bill, phone bill, or bank statement issued within the last three months. Make sure your name is written precisely on the document as it is on your ID card.
Where is BTSE based?
It is based in the United Arab Emirates and was launched in September 2018.
Who founded BTSE Exchange?
There is an extremely qualified and competent team behind this BTSE platform This team includes:
- Jonathan Leong (CEO )
- Brian Wong (Co-Founder)
- Joshua Soh (COO)
- Yew Chong Quak (CTO)
The knowledgeable team has years of expertise in blockchain technology, crypto-centric ecosystems, innovative IT solutions, monetary commercialism, and together they form an ideal mixture of education, experience, and innovation.
BTSE Exchange Overview
The marketplace for cryptocurrency derivatives has matured considerably in recent years. Traders are constantly sorting out and curious for better and a lot of advanced cryptocurrency exchanges. BTSE Exchange is completely different from everything else.
BTSE Exchange overview depicts that this all-in-one digital quality exchange and derivatives platform serves each regular and institutional trader. Their approach has been to supply a one-stop solution for traditional finance and digital assets.
User interface and User Experience
In the crypto trade, BTSE Exchange is known for its innovative characters and users are loving this innovation. The platform offers quick settlements with high liquidity in a secure setting.
It allows users to change multiple currencies with multiple indexes. Despite the fact that it has been launched in 2018, the exchange has a huge number of users and is growing day by day.
It has positive as well as negative aspects too.
BTSE Exchange is one of all those platforms that offer terribly restricted support choices. These include:
- The internal price tag system is disappointingly slow.
- Low support on the Telegram community, typically redirecting you to the price tag system
- Low activity on Facebook and Twitter communities.
- Support table with the chatbot — helpful data related to platform and FAQ.
- For any kind of additional help, the team of BTSE Exchange also contacts with their customers via email or by phone call.
- Their response time is reported to be less than 24 hours, so that is quite impressive.
- The BTSE blog features a technical analysis of experienced BTSE cryptocurrency traders
Pros and Cons of BTSE Exchange
- 6 celebrated assets.
- Offers each future and spot markets.
- High level of flexibility.
- Transactions area unit processed quickly.
- DVP functionalities with full escrow.
- Founded by a crowd-sourced team you’ll be able to trust.
- Platform users can use the services of verified merchants.
- Some futures have hardly any liquidity.
- Limited choices for client service.
- Trading fees are too high.
- The site is optimized for mobile use, however, there’s no BTSE Exchange mobile app.
What features make the BTSE exchange unique?
BTSE Exchange has two trading platforms, labeled Futures, and Spot trading, that are completely different. As they say “Customize your trade,” it’s one of the most outstanding characters of their Futures 2.0.
BTSE’s newly updated Futures 3.0 allows its traders to post margin with multiple currencies and coins at the same time, which is not like on traditional crypto derivatives exchanges.
The BTSE Exchange supports many combinations of cryptocurrency and traditional fiat The users of BTSE can choose any combination in order to reconcile their transactions. It offers leverage up to 100x in futures. There is an initial deposit bonus on deposits up to $1000. Further, it offers a $10 retweet bonus.
The exchange utilizes Linear Contracts which eliminate difficult calculations by different contracts, permitting traders to predict exit points.
Profits or losses are directly associated with changes in price in the contracts. This simplifies the hedging method and eliminates risks related to non-linear futures.
In other words, you are really able to personalize or customize your trade in BTSE Exchange. Its vision is to narrow the gap between cryptocurrencies and the 100-trillion-dollar global futures market.
How long does BTSE last?
BTSE Exchange claims that its platform has almost no downtime at all. It has an order execution engine that executes up to 1 million orders per second, and about 99.9% of all funds held on the platform are in cold storage.
Is the BTSE exchange legit? Is BTSE exchange regulated?
BTSE Exchange is 100 % legitimate. The company is registered under the BTSE Industrial Brokers LLC and BTSE Payment Service Suppliers LLC. The Department of Economic Development, Government of Dubai licensed BTSE Exchange UAE and it is governed by the Central Bank of the United Arab Emirates.
Is BTSE decentralized?
Bitcoin’s success has been a result of decentralization, and it’ll be even more crucial in the future. Digital assets are best- known for their decentralized finance, which continues to grow in quality and popularity.
The lending platform is one of the most famous forms of DeFi and this is where BTSE Exchange plays its role. New Earn functionality has allowed BTSE to change itself into a DeFi platform.
Digital assets are communicated between both lenders and borrowers in this feature. The platform allows lenders and borrowers to generate and earn yields. The interest rate is set according to algorithms in the BTSE framework to control demand and supply. For instance, if a particular digital asset is in high demand, its interest rate is going to be high.
Being a DeFi platform, BTSE lenders can earn interest by the investment of their cryptocurrencies in BTSE’s capital pool. Lenders are guaranteed interest rates depending on the asset they choose to lend. Redeeming your stacked asset before the period agreed to will however cancel your interest.
BTSE’s inclusion in DeFi is an exciting development that may push it into mainstream culture.
What countries can use the BTSE Exchange?
All countries have access to BTSE Exchange except:
- North Korea
What are BTSE exchange fees?
BTSE exchange fees rely on a model called the Maker and Taker fee Model. While placing an order, a trading fee is charged by the BTSE Exchange. This fee is a percentage of the order value.
Many exchanges split takers from manufacturers. Takers are those who take a previously placed order from the order book. Manufacturers generate liquidity on the order book by adding orders to the order book. The fees for this platform are 0.12% per trade for takers and 0.10% per trade for makers.
The user’s VIP status is predicted on their trading activity over a rolling period of one month and is recalculated over 24 hours. To look at the VIP level of a consumer, they have to log in to their account and visit the profile. BTC was used to calculate the trading volume while trading volume outside of Bitcoin will be converted into Bitcoin equivalent volume using the spot exchange rate.
What is BTSE Token?
The BTSE Exchange Token is designed officially in such a way that it will enhance the user expertise in the BTSE ecosystem.
BTSE Token is a cryptocurrency that was released by the crypto exchange. This exchange, besides being a cryptocurrency, also offers reduced trading fees to holders. It can also be used to buy BTSE goods and services. BTSE Token is constructed on top of Liquid by Blockstream.
The benefit of the token is that it allows 60 percent to be saved on exchange fees, which can be used to purchase services and can be redeemed for bonuses through commercialism contests and campaigns.
Liquid is a Bitcoin sidechain settlement network designed particularly for traders and exchanges, and BTSE is the first exchange token to run on Liquid.
Inherent advantages of BTSE are:
- Transaction amounts and asset types are kept hidden in order to protect your privacy.
- It takes only 2 minutes to finalize your transaction
- Liquid makes funds transfer quicker, faster, and easier with its inter-exchange settlement.
How does BTSE exchange leverage work?
BTSE Exchange Leverage can go up to 100x on some trading pairs on the BTSE futures market. 100x larger orders require the margin of 1%. Margin Trading is not recommended for folks who don’t have much trading experience.
A word of caution might be useful for anyone who is going to involve himself in BTSE Exchange leveraged trading. Leveraged trading can give you huge profits, but the drawback is that losses can be vast.
Is BTSE Exchange safe?
Investors are praising BTSE Exchange for bringing institutional-grade securities to everyday investors. The platform is a registered entity and now the company applied for a virtual financial asset license from the Republic of Malta under the virtual financial asset act.
BTSE is accountable for its failures as it has its own regulatory framework. It allows the users to take advantage of multiple security measures, giving them a guarantee that their data and funds are kept safe.
BTSE hosts its own exchange thereby avoiding the chance of information breaches caused by lax third-party security. This system uses Google’s two-factor authentication system, which is obligatory for any API changes or withdrawals. In this way, it prevents any unauthorized person from accessing their accounts.
The BTSE Exchange claims its user funds are kept in cold storage, accessible only by multiple keys. The platform was developed by a team that has strong expertise in trading platforms, so it is clear that BTSE will do everything it can do to save its integrity.
How do I withdraw money from the BTSE exchange?
The steps that need to be followed to withdraw money are as follows:
- Click on Withdraw in the “Wallets” section.
- For the transaction, select the blockchain.
- Provide your withdrawal address and the amount.
- Click the “Confirm” button.
- You will receive a confirmation email.
- You will receive a confirmation mail from BTSE. To submit the withdrawal request, use the confirmation link on the email.
After receiving your confirmation, BTSE will submit the request to the blockchain within 30 minutes.
BTSE Exchange withdraw fees
BTSE Exchange withdrawal fee is 0.005 BTC per BTC withdrawal. This fee is slightly less than the industry average. The current international average for BTC-withdrawal is slightly over 0.0006 BTC, so BTSE Exchange is presently giving a competitive price point.
What coins are on the BTSE exchange?
BTSE Exchange is currently offering trading in
- Bitcoin (BTC )
- Ethereum (ETH)
- Monero (XMR)
- Bitcoin (LTC)
- Tether (USDT)
- TrueUSD (TUSD)
- USD Coin (USDC)
BTSE exchange OTC Trading
BTSE Exchange is also useful for OTC Trading. One can understand OTC-desk by this example. Let’s suppose, a person owns a certain amount of cryptocurrency and he wants to sell that. It isn’t possible for him to do this on a regular trading platform because the market value of crypto is affected by the large trades. One of the reasons is that the order book might be too thin to execute the relevant trade. These problems are solved by BTSE Exchange OTC Trading.
As a result of the easy interface and technical analysis, BTSE Exchange proved itself very useful. BTSE has a special academic place for traders called BTSE Academy.
However, the BTSE phone application is still not launched. The exchange is a bit behind in this regard as most have already developed a mobile app for traders.
Long story short, BTSE is enhancing its features, and its pitch is plainly attracting users.
Read our other Crypto Exchange Reviews
I am a data analyst by profession who loves to crunch numbers at daytime and come home wondering how my passive income numbers for the day look like. I believe in being rich rather than looking rich. Follow me for Cryptocurrency, FIRE, Personal Finance, Credit Cards and Digital Nomad updates