The growing quantity of new trading platforms is a signal of the explosion of the cryptocurrency market. In addition to established and well-known exchanges like Binance, Kucoin, Huobi Global, etc., “rookies” are also progressively gaining ground in the cryptocurrency race. Among them, BTSE is a great “warrior” that users are especially interested in. Currently, the exchange has launched the BTSE Token (BTSE) project. Let’s find out with Betomon what BTSE Token (BTSE) is through the article below!
WHAT IS BTSE EXCHANGE?
Headquartered in the British Virgin Islands, BTSE is an exchange for cryptocurrency derivatives.
This platform allows investors to trade derivatives related to several cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Tether (USDT), TrueUSD (TUSD) và USD Coin(USDC).
Financial contracts known as derivatives derive their value from the underlying asset, in this case, a particular cryptocurrency. As a result, traders can profit from fluctuations in market prices without holding or possessing any physical assets.
The BTSE exchange makes it simple for traders to diversify their portfolios and spread risk across different currencies rather than concentrating on just one kind of asset by giving them access to multiple cryptocurrencies on a single platform.
Where is the main office of BTSE?
BTSE was established in 2018 and has its headquarters in the British Virgin Islands. Because it is a regulated business and complies with BVI Financial Services Commission (FSC) regulations, clients’ money is kept secure on the platform.
Who founded BTSE?
BTSE was established by a group of specialists and is presently led by four people:
- Jonathan Leong, Co-Founder & CEO
- Brian Wong, Co-Founder & Chief Product Officer
- Yew Chong Quack, Technical Director
- Joshua Soh, Director of Operations (Equivalent to Deputy General Director)
Fundamental features of the BTSE for traders
Here are six important aspects of the BTSE Exchange that you should know:
1. 100+ tradable crypto assets
BTSE offers over 100 different cryptocurrencies including Bitcoin, Ethereum, Ripple,… As a result, traders can expose themselves to a wide range of cryptocurrencies and diversify their portfolios. Additionally, a wide variety of options also helps traders to experiment with various trading strategies.
2. Low fees
The fee structure of BTSE is affordable, and users who possess BTSE tokens can take advantage of additional discounts. This enables traders to cut expenses while still seizing market opportunities. There are no deposit fees, but a %0.15 withdrawal fee is charged in fiat currency.
3. Reduced fees for holding BTSE tokens
The exchange stipulates that traders must keep a minimum quantity of BTSE tokens in a wallet in order to receive additional discounts, which significantly decreases trading expenses for investors.
BTSE source: https://www.btse.com/vn/token/staking-benefits
4. Free cryptocurrency exchange transactions
Due to its fee-free cryptocurrency swapping policy, BTSE has become a more appealing option for traders wishing to quickly and cost-effectively switch between cryptocurrencies.
5. Advanced features and trading platform
BTSE provides progressed trading features such as margin trading, zero-fee swaps, futures,… Also, based on their level of experience and interface accessibility, traders can select from three distinct platforms.
6. Security
Many security measures have been implemented, including two-factor authentication (2FA), automatic backups to safeguard user data, and cold wallets to store cryptocurrency securely. These procedures are meant to guarantee that user funds remain secure while they are on the platform.
Advantages and disadvantages of the BTSE exchange
Benefits
- No deposit fees: One of the key benefits of utilizing BTSE is that traders can save money because there are no fees associated with deposits.
- Supports more than 100 cryptocurrencies: The exchange gives users more trading flexibility by promoting many cryptocurrencies.
- Advanced trading platform and premium services: Advanced features available on BTSE include futures, zero-fee swaps, margin trading,… Additionally, traders have a choice of three distinct platforms from which to select the one that best suits their needs and comfort level.
Drawbacks
- Withdrawal fee is %0.15 for fiat withdrawals: The fee for withdrawal fiat withdrawals of %0.15, which can be more expensive than other exchanges.
- Minimum deposit of $100: Due to BTSE’s $100 minimum deposit requirement for all users, traders must make sure they have adequate money before using the platform.
Generally, BTSE is a trustworthy and secure cryptocurrency exchange offering cutting-edge features and services that both novice and seasoned investors can access. The exchange also provides competitive fees and a variety of cryptocurrencies to trade.
How to buy BTSE cryptocurrency?
As we already know, BTSE is a legitimate, safe exchange for cryptocurrency derivatives. Here’s how it can assist you in purchasing BTSE tokens.
1. Download a Cryptocurrency Wallet. For example: Coinbase
Downloading a cryptocurrency wallet, like Coinbase, is the first step. This wallet will be used to store your BTSE tokens once they are purchased.
2. Create an account and log in
Create an account and log in once the application has been installed. You will be required to enter some personal information that the platform will examine and verify before moving on to the next steps.
3. Set up methods of payment
Next, configure a payment option so that BTSE can transfer your digital assets among themselves. This step requires entering bank information, credit card numbers, or other payment methods allowed on the platform. Once this section is finished, you can use Coinbase to purchase Ethereum (ETH) using fiat money.
4. Buy Ethereum
The next step is to buy Ethereum through Coinbase. From the list of available cryptocurrencies, select “Ethereum” and enter the desired purchase amount. You can transfer your Ethereum from Coinbase to the BTSE exchange once the transaction has been confirmed.
5. Buy BTSE
You can now purchase BTSE tokens after Ethereum has been sent to your BTSE wallet! Choose “convert” to accomplish this and transform your ETH into BTSE tokens. After the transaction is finished, you will possess the BTSE token, which you can use to trade derivatives on the platform.
How to trade on BTSE?
The BTSE Exchange is a reputable online trading platform that allows users to engage in leveraged trading.
Traders can access both perpetual contracts (futures contracts without an expiration date) and futures contracts with predetermined expiration dates on this exchange. Depending on the tool, the maximum leverage is 100 times.
In essence, leverage trading is a form of trading in which traders can multiply their trading volume by a larger than the amount they have invested. This indicates that the investor can use leveraged trading to invest less than the trade’s value and still turn a profit. For example, if you invest $100 and use 10x (10x) leverage on your trade, each increase or decrease will multiply the amount by 10 times.
BTSE exchange provides two different markets: spot market and futures market, each market offers its own unique features. Spot markets provide real-time prices meanwhile futures markets provide traders with predefined expiration dates, enabling them to plan in advance and make well-informed investment decisions. Furthermore, with a professional and user-friendly trading interface, the platform offers traders up-to-date market information and customization selections that can help them during their trading.
Deposit method
The following are several deposit options that traders can select from at BTSE:
- Bank transfers: This is one of the fastest ways to transfer money to a BTSE account. Depending on the nation you are transferring money from, funds can proceed straight from your bank account to your BTSE wallet in as little as one or two days.
Credit Cards: Traders may also fund their BTSE account with credit cards; however, this method may take up to 7 days for the money to arrive in your wallet. - Debit Cards: Similar to credit cards, traders can also deposit funds via debit cards. The money will be sent to your wallet within 1-2 days.
Is the BTSE legal?
Yes, BTSE is a legal exchange licensed by the Financial Services Commission (FSC) of the British Virgin Islands. The exchange additionally applies a number of security techniques to guarantee that user funds are always protected, including automated backups, two-factor authentication, cold wallets for the safe storage of cryptocurrency,… All of these characteristics combine to make BTSE a relatively safe and trustworthy platform for investors looking to buy, sell, or trade cryptocurrencies.
However, traders should always proceed with caution and keep an eye out for any suspicious activity that might indicate fraud or scams while trading.
Does BTSE require KYC?
Yes, before trading on the BTSE, all participants must go through KYC verification. By taking this precaution, user accounts are kept safe from any potential money laundering or financing of terrorism. Thus, the first step in using this exchange is to complete the KYC process, which requires providing personal data such as your full name, address, and identification documents.
Frequently asked questions
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Who founded the BTSE exchange?
BTSE was founded in 2018 by Jonathan Leong.
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Where is BTSE headquarters?
Currently, BTSE’s headquarters is based in the British Virgin Islands.
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How many different cryptocurrencies are there to trade on BTSE?
You can trade a total of 525 cryptocurrency pairs once you join BTSE.
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What is the transaction fee for the BTSE?
The spot trading fees on the BTSE are 0.2% for makers and 0.2% for takers. However, in futures trading, the taker fee is 0.04% and the maker fee is 0.01255%. Please be aware that these are only for regular users. In addition, the higher your membership level in BTSE, the lower the fees.
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What is the 24-hour BTSE trading volume?
The 24-hour trading volume on the BTSE is 4,066,051,923,146 KRW. Moreover, the daily trading volume indicates a change of 19.04% compared to the previous day.
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What is the trading volume of BTSE per week?
BTSE’s weekly trading volume is 23,355,788,207,206 KRW, with a total of 537,845 users. Also, the weekly trading volume on the BTSE indicates a shift of -8.40% from the previous week.
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What is the monthly trading volume of BTSE?
The trading volume of the BTSE is 106,262,726,693,557 KRW per month. Plus, the trading volume for this month has changed by -0.24% from the previous month.
>>> How to Create and Sign in BTSE Account
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