- Markets for spot and futures
- A wide range of pairs crypto/fiat
- Fiat currency deposits
- Trade interface with advanced features
- Multiple investment and earning opportunities
- Rapid transaction processing
- Verified merchants offer services
- Near-zero downtime
- Complete escrow services
- Futures with little liquidity
- Trading fees that are high
You faced the challenge of selecting the right exchange among the countless trading platforms available in cryptocurrency markets.
CoinStats reviews top platforms regularly BinanceCoinbase, Kraken or Coinbase are relatively reliable but small crypto exchanges, such as the Bibox exchangeThis is a relative new exchange for derivatives, such as BTSEIt outlines their strengths and weaknesses to make it easier for you to choose the best platform for trading digital assets.
BTSE, a digital derivatives exchange, offers a wide range of digital assets including spot and derivatives trading as well as NFT and white label trading. It also has an over-the-counter trading platform and a fiat-to-crypto conversion option.
Our BTSE review will discuss the platform’s services and features, advantages and disadvantages, trading fees, security, etc., and demonstrate how to start trading on the platform to maximize profits.
Let’s get right to it!
What’s the BTSE Exchange
BTSE Exchange is a fairly new platform that has been registered in British Virgin Islands. Since September 2018, it has been in operation. Two registered companies have created the platform, BTSE Commercial Brokers LLC (814684), as well as BTSE Payment Service Providers LLC (817878). BTSE operates according to regulations established by the Central Bank of the United Arab Emirates. It is based in Dubai.
Jonathan Leong is the co-founder / Chief executive officer; Brian Wong is co-founder / chief product officer; Yew Chhong Quack, Chief technical officer; and Joshua Soh is Chief operating Officer.
BTSE, which stands for Bitcoin Trading and Securities Exchange, is a digital asset exchange and platform for derivatives that offers multi-currency digital assets.
The BTSE market offers spot and futures trading and a reliable fiat currency to cryptocurrency exchange. The exchange supports nine fiat currencies as well as fiat/crypto pairings, which include standard trading pairs for Euro and USD, but also Japanese Yen and Swiss Frank and Hong Kong dollars. Advanced trading options such as spot trading and leveraged trading are supported. OTC trading is also available. Multi-asset collateral can be used to settle for derivatives trading.
BTSE provides an all-in one order book to provide liquidity, quick credit card funding and low conversion fees. USDT deposits can also be funded at 12.5% APY.
BTSE was the first to provide Web3 wallet support to both MetaMask wallet extensions and Phantom wallet extensions. This allows users to easily deposit and withdraw Ethereum and Solana.
The platform offers lucrative incentives like deposit bonuses and referral programs, and the Testnet trading platform that enables novices to test the exchange’s features using fake money.
BTSE’s exchange generates daily trade volume of over $1.5 million on BTC/ETH futures. The trading platform securely stores over 99% of customers’ funds in cold wallets.
This exchange received a rating of 7/10 from CoinGecko and was 56th in safety out 518 exchanges.
How to start trading
The BTSE platform makes trading easy and intuitive. This quick tutorial will show you how to trade on the BTSE platform.
Step 1. Register
To create a BTSE Account, users must provide a valid email or mobile number. You can verify the link by checking your email after you submit the form.
To upgrade your account, and receive several benefits such as lower fees or larger withdrawal limits, you must go through the Know Your Customer procedure. This involves ID verification and proof of residence via ID confirmation.
Customers who want to trade fiat currency must verify their identities.
Note: If you have a referrer, click “Referral Code” and fill it in.
Step 2: Deposit funds
Users must first deposit funds in order to trade. The BTSE Exchange supports a variety of deposit options including:
Crypto traders who have experience can connect their crypto wallets with the BTSE exchange to deposit digital currency and start trading.
Fiat Currency Deposits
Fiat currency can be deposited into your account via wire transfer or credit/debit cards.
NOTE: ID verification required by BTSE for credit card deposits. Also, additional proof of address is needed for bank transfers or withdrawals.
Step 3: Get started trading
Go to TRADING to purchase or sell digital currency. Then you must choose the Buy/Sell method under “MARKET / LIMIT / INDEX.”
Note: Users can monitor the price movements using TradingView on the BTSE exchange.
TIP: If you don’t find the token you need within the fiat pairs, check if it has an available pair with Bitcoin.
- Click on “Spot” under “Trade” on the top navigation bar
- Enter the desired pair and search for it
- Choose Buy or sell and select your order type
- You can set buying/selling price and selling amount (or total exchange value). Then click on “Buy Order”/”Sell Order” to submit your order
- View your order in “Open Orders” at the bottom of the page.
The BTSE Exchange offers many trading options for cryptocurrency traders.
The BTSE spot trading service offers eleven markets. 5 of these are standard trading pairs while 6 are indexes. Since an index represents the performance of a group of digital assets, you’ll not be buying any actual underlying asset but rather the average performance of the group of assets.
BTC/USD pairs, USDT/USD and ETH/USD pair are part of the standard offer. BTC, ETH and LTC are also included in the index offer along with the composite indexes BTSE 5 (BBCX), and BNC–BTSE (BBCX).
These are the sizes of spot trading limits:
- BTC: min 0.002 – max 2000
- USDT: min 10 – max 100,000
- ETH: min 0.05 – max 5000
- LTC: min 0.05 – max 5000
- XMR: min 0.05 – max 1000
- BTSE token: min 1 – max 25.
BTSE Futures Exchange
BTSE offers an extensive futures exchange, with over 20 futures contracts, such as BTC, ETH, LTC, XMR, USDT, and BBCX.
Futures contracts have an expiration time range and some also offer a perpetual option which is a contract that has no expiration date.
Some futures are allowed to trade up to 100x leverage or a 1% first margin. This is the industry standard.
The leveraged trading option on the BTSE Futures Exchange can be up to 100x for some trading pairs. You will need a margin to place 100x more orders.
Note: Margin trading can be extremely dangerous. Margin trading can result in the loss of user funds if the trader is wrong. However, it can also grant massive returns if the bet is right, making it a high-risk/high-reward trading method.
BTSE offers an OTC (Over The Counter), 24/7 desk for no extra cost. OTC trading allows prominent crypto traders to trade large quantities of cryptocurrency, something that is not possible on regular platforms. Large trades can affect the value of the crypto market.
The order book may not be sufficient to complete the trade.
Commissions for trading
BTSE Exchange has different fees for futures and spot trading platforms. BTSE employs the maker/taker model for spot trading. This charges market makers more than takers. For accounts trading <100 BTC per month, maker fees are 0.05%, while taker fees are 0.1%. The platform calculates VIP levels for accounts based on the trading volume over a 1-month period. It is then recalculated each day. Accounts with higher volumes are eligible for a reduction in trading fees of as much as 80% on maker fees and 70% on taker charges.
Specific trading conditions are set according to a user’s trading volume (calculated in Bitcoin) and VIP level.
Capital traded in another currency can be converted to Bitcoin equivalent volume by using the spot exchange rates.
The tool also allows you to quickly convert USDC to TUSD or USD. This conversion costs 0.3%.
BTSE exchange doesn’t charge deposit fees.
Deposits and withdrawals
Using the BTSE platform, you can make a SWIFT remittance deposit. You get your transaction number and bank information under “Login” > “WALLETS” and can view all SWIFT remittance fee types on the platform’s site.
To withdraw fiat currency, go to SWIFT Remittance Log-in and “WALLETS,” and click on “Withdraw” under the fiat currency field. You will need to enter the currency amount and the account where you wish to have it withdrawn.
Similarly, to withdraw digital currencies, simply click “Withdraw” under the digital currency window, enter the amount, and choose the account you want your currency to be withdrawn to.
The BTSE withdrawal fee varies depending on which withdrawal currency is used. However, they are usually the industry average. The token will also affect the minimum amount that can be withdrawn.
Tether USD Coin has a minimum withdrawal amount of 10 USDT. The withdrawal fee for this coin is 5 USDT. There are no deposit fees or minimum deposits.
Bitcoin traders have different terms. BTC users can withdraw as low as $0.002 and pay a deposit fee of 0.0005 BTC, roughly $10.
NOTE: Cryptocurrency is highly volatile. The fees in digital currency do not have a solid dollar equivalent. They are also subject to volatility.
Crypto traders who want to withdraw fiat currency can have different withdrawal and deposit requirements. To illustrate, $1,000 is the minimum amount that can be withdrawn and the deposit fee for USD trades. There is no deposit fee. Fiat currency deposits might be subject to a bank fee payable to the bank but not to BTSE.
The BTSE token is the exchange’s native token powers the BTSE ecosystem. It grants holders extra advantages and serves as the exchange’s base currency. Liquid, a Bitcoin sidechain settlement network that allows traders to settle their trades with exchanges, is used for the BTSE token. The BTSE token reduces holders’ trading fees and is used as a payment method for buying BTSE exchange products and services. Users can also save up to 60% on their exchange fees with the BTSE Token
Support for customers
When assessing cryptocurrency exchanges, it is important to take into account customer service. BTSE reviews often include the exchange’s poor customer service in their list of disadvantages. Customers also complain that the exchange’s customer service is slow and not helpful. It does not offer live chat or social media support. Users can contact BTSE immediately and get their problem solved without wasting any time.
BTSE exchange offers a support desk that includes a chatbot to help with general queries about the platform.
Only the internal ticket system can be used to reach BTSE customer care. You’ll get a reply after several hours according to your query, which might not solve your problems.
Most Frequently Asked Questions
Is BTSE Exchange a US-based Exchange?
Although there are no restrictions from the BTSE Exchange, US customers may be subject to Securities Exchange Commission regulations when using the platform. Belarus, Cuba (North Korea), Syria, Iran and Venezuela are some other countries that have placed restrictions on global trade.
Is BTSE Exchange Secure?
BTSE hosts its own exchange and doesn’t rely on lax third-party security, which can lead to data breaches. It uses Google’s two-factor authentication system, preventing unauthorized people from accessing users’ accounts.
BTSE Exchange says that user funds are kept in cold storage and can only be accessed via multiple keys. The exchange is praised for offering institutional-grade security to every day investors.
Is the BTSE Exchange decentralized?
BTSE Exchange is a Decentralized Finance platform (DeFi), which supports digital asset trading and fiat currency trades.
The BTSE cryptocurrency exchange offers an all-in one platform, with high security and a large range of digital assets and trading pairs. It also has deposit methods. The exchange offers traders high liquidity and flexibility. It is easy to use for beginners, making it possible for novices to buy, sell or convert on the exchange. Advanced trading options are also available on the BTSE platform for experienced traders. These include traditional spot markets as well as leveraged trading.
The success of the BTSE academy as an educational platform has been hugely popularized by cryptocurrency traders.
BTSE has some distinct features that set it apart from its competition, like access to verified Merchants and the chance to be verified Merchants.
Our BTSE Exchange Review was helpful in crypto trading.
However, it is important to remember that cryptocurrency prices can fluctuate and this article does not contain any financial advice.
If you wish to learn more about cryptocurrencies, blockchain technology, and DeFi, you’re welcome to visit our blog and read articles like “What is DeFi?.” To learn how to manage your crypto portfolios, read our “Crypto Portfolio Trackers.”