Institutional-Grade Exchange BTSE Launched its own Token!
When Andreas Antonopoulos, renown speaker and author of Mastering Bitcoin was asked about what things that the Bitcoin industry does need back in 2019, surprisingly, his answer was more exchanges, continued wallet development, usable ATMs, and education systems.
We saw today that it is true, more and better exchanges are wanted. Even new exchanges that just launched last year was able to grabbed significant volume, one of them is BTSE.
Introducing BTSE
BTSE was launched in 2019 by a group of traders and IT experts. It supports spot and futures trading and was designed to support both individual traders and institutional investors.
Multicurrency and an All-in-one Order Book
An outstanding feature of BTSE among other exchanges is its “all-in-one order book”. It’s my first time to see an order book fully inclusive of crypto, fiat, and stablecoins at BTSE. The advantage is you can freely switch quote currencies from all available currencies on the exchange. You can directly trade an asset for the currency you want to settle in wherein other exchanges requires another step of converting to your account’s base currency first. As more more assets will be added to BTSE, this will become even more convenient, it will help save more time and profit in coping with the volatility of cryptocurrencies.
Another benefit of BTSE’s “All-in-one order book” is it combines the liquidity of all trading pairs on the same order book, resulting in much higher liquidity even for low volume trading pairs.
Currenty, BTSE supports the following currencies:
Crypto: BTC, ETH, LTC, XMR, BTSE
Fiat: USD,CAD,CNY,EUR,HKD,JPY, SGD, AUD, GBP, AED
Stablecoins: USDT, TUSD, USDC, DC
High performance — the secret sauce to achieve more liquidity
In a recent interview by Stacking Ventures, BTSE CEO said that liquidity is the key driver behind an exchange, And In order to achieve high liquidity and attract volume, a system needs to be built to support high frequency trading.
BTSE is just like that, it supports 1 Million+ order requests per second and most upgrades can take effect without needing a downtime. Just recently, we saw how significant these features are. Sudden downtime on major cryptocurrency exchanges can cause cancelled trades, and can cause the market to panic, some losing significant amount of money.
Security and Privacy
BTSE exchange is highly secure, 99.9% of all their funds are in cold storage. Users can also generate a new deposit address once the old was used.
Another advantage of using BTSE is it supports confidential transactions. This is made possible by building on top of Liquid Network, a Bitcoin sidechain developed by Blockstream where token type and amount are blinded.
The BTSE Token
We can see that most successful crypto exchanges have their own token. Binance having its BNB token overtook Poloniex in just less than a year. Bitfinex launched its LEO token recently to cope, and BTSE is also joining the ranks.
BTSE token was the first token launched on Liquid Network. The public sale on March 5th 2020 sold 1 million tokens, sold-out in just 4 hours.
BTSE token total supply is capped at 200 millions tokens, 5 million of which will be tradeable within the first six months.
Aside from being tradeable, users holding the BTSE token will be able to use it to access features such as reduced trading fees(60% off) , increased limits, and higher benchmark bonuses (e.g. Referral bonus up to 40%, BTSE’s Pro-Trader Program).
Looking forward, The token will also grant the ability to participate in upcoming staking programs, preferred payment for services offered by the platform( access to events , listings, advanced trading functions), and asset management services.
BTSE will also conduct constant buy backs and BTSE token burns to increase scarcity while increasing demand as BTSE user base grow and more services utilizing BTSE token are offered.
What’s Next for BTSE?
BTSE also plans to offer a BTSE debit card, non-crypto derivatives CFDs, advanced order types, a social interaction platform, copy trading, options and OTC RFQ.
Our goal isn’t to be just an exchange. We are building a suite of financial services designed to connect digital assets with the traditional finance landscape.
- BTSE CEO, Jonathan Leong on an interview by Stacking Ventures
If this article made you interested on BTSE, you can check out their website: https://www.btse.com/
Want to use BTSE without losing money?
You can try their tesnet: https://testnet.btse.io
