BTSE is a centralized multi-currency trading platform that bridges the gap between fiat and digital assets’ markets. The company was founded in August 2018 and is headquartered in Dubai. It aims to introduce innovative digital assets to the traditional finance sector.
BTSE provides its participants with the following features: all-in-one order book, strict security protocols, multiple payment methods, insurance fund, cold storage for 99% of all assets, no withdrawal limits, and powerful trading engine that can execute over one million order requests per second. The platform supports 5 languages: English, Chinese, Japanese, Korean, and Turkish. BTSE mobile application provides a full range of services and is available for IOS and Android.
BTSE offers such services as exchanging, OTC desk, lending services, futures trading, referral program, academy, and a debit card. BTSE combines all fiat, crypto, and stablecoin pairs in one order book, which also allows users to trade in their native currencies.
Leveraged trading provides two possibilities: futures without expiry dates (perpetuals) and futures with expiry dates (non-perpetuals). The maximum possible leverage equals to 100x. With this service, users get no slippage with the possibility to conduct transactions as big as 100,000 USD. Moreover, BTSE allows businesses to leverage their API to facilitate usage and increase speed.
For traders who want to sell or buy a large amount of a certain cryptocurrency, the BTSE platform suggests OTC trading. Its real-time OTC RFQ (Request for Quote) provides improved navigation, 24/7 OTC quotes, order execution in any currency or combination of currencies supported by BTSE, and a minimum order value of 1 USD.
With BTSE’s referral program, users earn not only 20% commissions of their friends’ trading fees, but also 10% of their friends’ referral earnings. BTSE Academy provides beginner’s guides, articles, and comprehensive tutorials on various trading tools and services.
Users who subscribe to BTSE Elite plan get a free BTSE Debit Card, which allows withdrawing about 2,000 EUR daily and spend up to 100,000 EUR a month. At the time of writing, you can load it with 9 fiat currencies and 5 stablecoins directly from your BTSE account. The main advantages of the card are the possibility to spend your money anywhere in the world without the need for a bank account, withdrawals at over 1 million ATMs worldwide, and cashback in BTC.
The native token of the platform is BTSE. It was designed to magnify user experience within the BTSE ecosystem. It is a utility token running on Liquid, a Bitcoin sidechain-based settlement network for exchanges. Liquid increases users’ confidentiality by blinding transaction amounts and asset types, makes transactions faster as liquid blocks are produced every minute and accelerates moving funds between member exchanges by its inter-exchange settlement.
BTSE token supports BTSE’s trading platform and services. It can be used for trading, spending, saving, earning, and storing. Investors can trade the token on the exchanges’ spot market or use it as margin collateral on futures trades. With BTSE token, users can pay for platform services and advanced trading functions. Also, the token holders can save up to 60% on their trading fees. BTSE Pro Traders program gives additional benefits to its participants as they can earn while trading, increase the referral bonus up to 40%, profit from taking part in different campaigns and contests, increase their limits, and participate in BTSE’s asset management. For storing the assets, BTSE wallet is proposed.
On September 7, 2020, BTSE introduced the wrapped BTSE token. It is an ERC20 token that uses a custodian model to implement tokenization of the BTSE token on Ethereum and allows users to participate in DeFi. The Wrapped token is mined, and the equivalent number of BTSE token is held in custody at a 1:1 ratio. After BTSE token backing withdrawn, the equivalent wrapped BTSE tokens are burnt.
BTSE Fees and Deposit methods
Deposits to the platform are possible in either cryptocurrencies or fiat currencies, which include USD, EUR, GBP, SGD, CAD, CNY, HKD, JPY, and AED. Fiat deposits can be made via SWIFT, FPS, or SEPA bank transfers. Due to the fiat deposit service BTSE refers to entry-level exchanges, which allow newbies to start trading without possessing digital assets.
Digital currency deposits are free and have no minimum. Withdrawal fees and minimum sum are different for each token. Fiat deposits over 100 USD are free. As for the commission for withdrawing fiat currency, it is charged by servicing banks and makes 0.1% or at least 25 USD for SWIFT payments and 0.9% for FPS ones with a 100 USD minimum withdrawal amount.
SEPA payments and internal transfers are free. Spot trading fees are based on a 30-day trading volume and start from 0.10% for makers and 0.20% for takers. Futures trading fees are determined by users’ trading volumes, BTSE token holdings, or their level in the Market Maker Program and start from 0.06% for takers and -0.01% for makers.
BTSE Team and Partners
BTSE founding team consists of experienced crypto enthusiasts. Jonathan Leong is BTSE CEO, chief coder, and co-founder with over 20 years of experience in coding, developing mission-critical systems, and building high-performance platforms. Brian Wong is the CPO and co-founder of the platform with more than 10 years’ experience in trading and financial technology. Joshua Soh, Chief Operating Officer, was previously General Manager for IBM Global Technology Services. Yew Chong Quak, Chief Technology Officer, has experience in software development and building networks.
BTSE has gained quite a lot of strategic partners so far. It has partnered with the popular trading platform Bookmap for premium visual liquidity addons, integrated MetaMask, and WalletConnect. The use of MetaMask wallets allows deposits and instant withdrawals of digital assets including ERC-20 and Bitcoin. The integration of WalletConnect into BTSE was essential for providing access to mobile users. Another partner is LEND at Hodl Hodl, a global P2P Bitcoin-backed non-custodial lending platform. All stablecoins used for loans there are available at the BTSE exchange. BTSE also collaborates with Brave New Coin (BNC), a digital asset trading and data startup, to launch a DeFi Index as a perpetual swap contract. Other partners include BalancerLabs and SushiSwap.