Let’s be honest: finding a good crypto exchange isn’t easy. The market is full of platforms promising the best features and security, but not all of them deliver. In recent years, the BTSE platform has brought extensive features, advanced trading tools, and strong security measures to the market (as often presented in this exchange), and […]
The post BTSE Crypto Exchange Review (2024): Is It Right and Safe for You? appeared first on Coindoo.
Let’s be honest: finding a good crypto exchange isn’t easy. The market is full of platforms promising the best features and security, but not all of them deliver.
In recent years, the BTSE platform has brought extensive features, advanced trading tools, and strong security measures to the market (as often presented in this exchange), and it stands out as a top choice for traders. But is it really that good?
In this review, we’ll examine BTSE’s offerings, from its security, customer support, and executing trades to understanding its fee structure. Everything you need to know as a beginner or advanced trader is right here.
-----Cryptonews AD----->>> <<<-----Cryptonews AD-----
The BTSE platform (short for “Buy, Trade, Sell, Earn”) is a leading digital asset exchange founded in 2018 that makes trading cryptocurrencies easy and safe. It’s trusted by big institutions, regular traders, and beginners alike, standing out for its user-friendly approach. The BTSE offices are located in Taipei, Singapore, Dubai, and other places.
BTSE leads the pack with advanced trading tools that set new standards in the crypto market.
What sets BTSE apart is its focus on global impact, as BTSE clients can trade over 150 cryptocurrencies and 50 perpetual futures contracts, with a massive monthly trading volume surpassing $30 billion.
They offer easy ways to deposit and withdraw both fiat and crypto, along with personalized trading services and solutions for businesses. Businesses can also use BTSE’s technology under their own brand, enhancing liquidity and more.
The BTSE crypto trading platforms envision a future where digital currencies are vital in finance everywhere. Their mission is to make crypto-based financial services widely used and trusted by institutions yet easy for everyone to understand and use.
BTSE Exchange is backed by BTSE Group, a global company focused on blockchain technology. Moreover, the BTSE founders developed the BTSE crypto trading platform with three main areas in mind: Exchange, Payments, and Infrastructure Development.
BTSE was co-founded by Jonathan Leong, who also serves as a chairman. He has over 20 years of experience in creating high-performance systems. For the past 6 years, he has successfully combined his tech expertise with business opportunities. A programmer since he was 15, Jonathan believes cryptocurrency will revolutionize business, living, and leisure. You can learn more about him in his interview on Blockworks Macro’s YouTube show “Untold Stories.”
The current BTSE CEO, Henry Liu, used to be a merchant banker and switched to blockchain in 2016. Now, he leads the company’s strategy and business development.
Jeff Mei serves as COO of digital asset exchange BTSE, where he leads global expansion and strategic operations. Jeff has a proven track record of driving growth and development in both the blockchain and traditional finance industries. During his time at Huobi Global, the COO, Jeff Mei, headed go-to-market strategies in international markets.
BTSE Exchange offers a rich set of features tailored to enhance their user’s crypto trading experience. The most important of them that must be mentioned here are:
When it comes to keeping users’ investments safe, BTSE takes security very seriously. They use strong measures to protect users’ assets and give them peace of mind.
BTSE platform is known for its top-notch security standards in the world of cryptocurrency exchange. They use advanced technology and strict protocols to safeguard users’ accounts and transactions from potential threats.
Unlike many other exchanges that rely on outside companies, BTSE runs its own technology and infrastructure. This self-operated system allows it to control security measures and reduce risks from external sources tightly.
Moreover, BTSE’s platform is designed to handle high trading volumes with minimal disruptions. Their infrastructure can process over 1 million order requests per second, ensuring smooth trading even during peak times.
Users’ funds are stored in cold wallets, completely offline and disconnected from the internet. More precisely, BTSE keeps >95% of user assets in cold storage, protecting them from hackers and online attacks.
To further ensure users’ safety, BTSE maintains a substantial insurance fund. This fund, worth millions of dollars, protects users in case of unexpected incidents like security breaches. It offers compensation and peace of mind to affected users.
BTSE also employs two important security features: Two-Factor Authentication (2FA) and Know Your Customer (KYC) verification.
2FA adds an extra layer of security by requiring a second verification code during login and critical account actions, significantly reducing the risk of unauthorized access.
KYC verification helps prevent fraud and money laundering by confirming a user’s identity. Completing KYC verification unlocks access to some of the platform’s features, such as fiat-to-crypto conversions and typically takes 1-2 days for approval.
The BTSE platform offers multiple payment methods, including bank transfers, credit/debit cards, and cryptocurrencies. This allows users to choose the most convenient option for depositing and withdrawing funds according to their preferences. Users have to pass KYC to access these features.
BTSE has a clear and competitive fee structure for all its services, including spot and futures trading. The BTSE website provides detailed information about the fees and limits, ensuring full transparency regarding the costs associated with their trades and transactions.
The BTSE platforms offers a conversion feature allowing users to exchange cryptocurrencies and fiat currencies without fees. The user-friendly interface ensures these transactions are processed instantly, making the trading experience seamless and efficient.
BTSE’s spot trading fees are taken from the currency received in a trade. Users can get discounts on these fees based on their VIP level, which depends on their monthly trading volume. Higher VIP levels mean lower fees. Market makers get special discounts, too, with attractive rates and possible rebates for high-volume trading.
BTSE charges futures trading fees when users open and close positions on futures contracts. These fees are based on the Notional Value of the positions, which is calculated as Mark Price [USDT] * Position Size [Crypto Units] and are deducted from the user’s margin balance. Active traders can enjoy discounts on these fees depending on their VIP level. Market makers also benefit from lower fees for higher trading volumes.
BTSE charges a $3 USD fee for non-USD SWIFT deposits under the equivalent of $100 USD. Additional fees for non-USD deposits and withdrawals, such as bank fees and transfer fees, are determined by the servicing banks, not BTSE.
As we already mentioned above, BTSE offers zero fees for crypto deposits and varying fees for withdrawals depending on the cryptocurrency. Withdrawal limits are set based on the user’s KYC Identity Verification level.
BTSE does not charge any fees for internal transfers (Send To) between accounts.
We tested BTSE’s customer support to see how well they assist users with trading inquiries, and here’s what we found:
The BTSE platform offers several ways to get help. Their website is a good first stop. It features a searchable knowledge base with articles and FAQs covering a range of topics, from account setup to troubleshooting technical issues. Users might be able to find the answers to their questions without contacting someone directly.
If they have a more specific question or run into a complex problem, there are a couple of ways to reach a support representative. The website has a contact form where they can detail their issue, and the BTSE team will respond via email or their preferred method. Alternatively, users can email the support address listed on the website directly.
For very urgent matters, social media might be an option for all BTSE clients. BTSE has official channels, such as Telegram and Discord, where they may offer dedicated support options to address quick questions.
In our test, we emailed support with a question about a specific trading feature. The response time was good, with a helpful reply arriving within 15 minutes. This suggests that BTSE prioritizes prompt communication with its users.
BTSE Crypto Exchange stands out as a reliable and innovative platform in the cryptocurrency market.
Its comprehensive feature set, including high-leverage options, automated trading tools, and fee-free crypto conversions, caters to both new and seasoned traders.
The exchange’s strong security measures, such as 99.9% cold storage and substantial insurance funds, provide users with peace of mind.
Despite some limitations, such as restricted access for US and Russian users and a smaller selection of cryptocurrencies, BTSE’s commitment to user experience, robust security, and advanced trading options make it a compelling choice for anyone looking to trade digital assets securely and efficiently.
The post BTSE Crypto Exchange Review (2024): Is It Right and Safe for You? appeared first on Coindoo.
Benson Toti
Benson Toti
Benson Toti