In this review, we’re examining BTSE, a digital asset exchange platform that pays special attention to the global impact of cryptocurrencies. More specifically, we’ll see how BTSE crypto trading works, what kind of services it offers, how secure it is, how responsive its customer support is, and who its potential users are. On the way, we’ll give you some tips on how to register on the platform and share a list of its pros and cons to give you a clear overview of the exchange’s strengths and weaknesses.
About BTSE
Founded in 2018, there are now BTSE offices worldwide in Taipei, Singapore, Dubai, and other locations, employing ~300 employees and exploring the benefits of the global crypto market.
On BTSE, users can trade over 150 cryptocurrencies and 50 perpetual futures contracts, with a monthly trading volume exceeding $30 billion. Likewise, the BTSE platform lets users deposit and withdraw fiat and cryptocurrencies, along with trading services and B2B solutions tailored specifically to enterprise BTSE clients.
The BTSE vision is set on a future in which digital currencies are integral to global finance. Consequently, the BTSE team seeks to bring crypto-based finance to the mainstream and make it as accessible and easy to use as possible.
The platform received the “Best Crypto Trading Technology” award by Entrepreneur Middle East, which underscored its commitment to technological advancements in the industry. The platform falls under the broader umbrella of the BTSE Group, a global company centered on three core business pillars of exchange, payments, and infrastructure development.
Those who can benefit from the BTSE crypto trading platform include:
- Traders looking for a platform to trade spot and futures with no minimum investments;
- Corporate clients interested in buying or selling crypto in bulk, or building their own crypto offerings through white-label exchanges, wallets, cards, trading bots, and more
BTSE Founders and Leadership Team
BTSE CEO Henry Liu
Henry Liu, the current BTSE CEO, started as a merchant banker before switching to blockchain in 2016. He now leads the company’s strategy and business development.
BTSE COO Jeff Mei
Jeff Mei, the COO of BTSE, manages global expansion and strategic operations. With a track record in both blockchain and traditional finance (TradFi), Mei previously led go-to-market strategies in international markets.
BTSE Token
The BTSE token is the native BTSE cryptocurrency built on the Liquid sidechain.
The token is designed to enrich the trading experience on BTSE and its ecosystem, as it plays a crucial role in improving various aspects of the user experience.
BTSE also stands out as the inaugural exchange token built on Liquid. This brings several notable benefits. Namely, Liquid enhances privacy by obscuring transaction amounts and asset types, providing a higher level of confidentiality. It also ensures swift transactions, with blocks generated every minute and confirmations completed within three minutes.
Additionally, Liquid’s inter-exchange settlement capabilities facilitate efficient fund transfers between member exchanges.
Services Provided by BTSE
BTSE has a number of products and services available to individual traders. They include:
- Spot trading;
- Futures trading;
- Crypto-fiat conversion;
- All-In-One Order Book;
- BTSE Earn;
- BTSE Card;
- Mobile app.
Let’s explore each of them in more detail.
1. Spot Trading
BTSE has a spot trading feature that allows users to buy and sell cryptocurrencies at real-time market prices. The spot trading platform is integrated with TradingView, so users will have direct access to the latest price data for over 150 assets.
2. Futures Trading
Traders on BTSE can dive into futures trading and speculate on the future price movements of a range of cryptocurrencies. The platform provides a variety of futures contracts, including those for Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and more, with leverage options of up to 100x. While most contracts are perpetual futures, BTSE also offers time-dated futures for major cryptocurrencies like Bitcoin and Ethereum.
3. Crypto-Fiat Conversion
BTSE comes with crypto-to-crypto exchange services, but it also allows users to convert supported cryptocurrencies directly into fiat currencies and vice versa. With the convert feature, users can effortlessly choose the assets they want to exchange and complete the conversion instantly. There are also no conversion fees.
4. All-In-One Order Book
BTSE’ All-in-One Order Book lets you list your trading pairs in a single dashboard, simplifying the selection process and enhancing user convenience. The All-in-One Order Book also increases variety by providing better support for lesser-known trading pairs, stablecoins, and fiat currencies.
By combining all trading pairs of a currency, BTSE boosts liquidity, provides higher fill rates, and aims for fairer pricing, especially for less commonly used trading pairs. This creates more opportunities for traders, including increased arbitrage possibilities. Additionally, it reduces fees, as traders can convert to more currencies directly instead of executing multiple trades.
5. BTSE Earn
BTSE Earn feature lets users generate passive income by locking in their digital assets. That is, users can choose from a variety of fixed and flexible interest-generating products based on their trading goals and preferences.
The two key methods for generating income are lending and staking. The former involves fixed-term deposits with guaranteed interest from BTSE’s capital pool, while the latter involves flexible-term deposits with variable rates and compounding interest.
6. BTSE Card
The BTSE Card, designed for cryptocurrency traders, allows users to use their digital assets for real-world purchases in 210 countries. Available in USD or Euro (EUR) denominations, the card can be topped up with BTC, ETH, USDT, USDC, and USD/EUR. When topping up, cryptocurrency balances on BTSE are directly converted to USD or EUR at the prevailing exchange rate on the BTSE platform.
The BTSE Card is offered in two versions — VISA and Mastercard — and can be used anywhere these major credit cards are accepted. Additionally, the BTSE Card is compatible with Apple Pay and Google Pay.
7. Trading App
BTSE has a mobile app available on Android and iOS. Like the desktop platform, the app allows users to trade over 150 cryptocurrencies with instant deposits via credit/debit card or bank transfer. Users can also trade Bitcoin perpetual futures with up to 100x leverage, utilizing BTSE’s multi-asset margin and settlement function to maximize their capital efficiency.
In addition, the app comes with BTSE’s curated staking products so that users can earn up to 26% APY on select assets and 9% on USDT on the go.
Enterprise Products Offered by BTSE
In addition to the retail products discussed above, the BTSE crypto trading platform offers several enterprise products as well. They include:
- Exchange Software;
- Wallets;
- BTSEPay Merchant Solutions.
Let’s explore each of them in more detail.
1. Exchange Software
BTSE exchange software can help startups launch their own digital asset exchanges within seven days. The API offers an all-in-one order book that combines data for all trading pairs, ensuring the best prices and enhanced liquidity. Likewise, it allows BTSE clients to customize their user interfaces and differentiate their brands to create a unique trading experience for their users.
Further, BTSE promises a safe, secure platform with no risk of downtime and software that supports high-frequency trading capable of processing over 1 million order requests per second.
2. Wallets
BTSE Wallets provide comprehensive digital currency solutions designed for versatility and security. The wallet services offer complete financial flexibility, including global banking options, instant conversions, and on-platform transfers. With turnkey wallet services, seamless integration, and advanced security features, BTSE founders promise user assets are managed efficiently and securely.
The wallet features also include unique addresses and multi-signature cold storage, ensuring privacy protection and safeguarding assets.
3. BTSEPay Merchant Solutions
BTSEPay API offers a cryptocurrency gateway, allowing merchants to effortlessly accept online cryptocurrency payments. It facilitates the integration of digital asset custody, ensuring smooth and efficient payment processing. Likewise, merchants can generate temporary wallet addresses for customer payments, enhancing security and simplicity in transactions.
Supported by BTSE, a global top 20 crypto exchange, BTSEPay API provides robust infrastructure and reliability. With multi-currency support, merchants can accept payments in 12 different cryptocurrencies and potentially benefit by converting crypto into various fiat currencies.
BTSE Fees
BTSE maintains a transparent fee structure across its services, including spot trading, futures trading, and other transactions. Users can view the detailed fees and limits schedule on the BTSE fee page, but a few words on the structure are not amiss.
Convert Crypto Fees
As mentioned, BTSE has a conversion functionality that allows users to exchange crypto and fiat currencies at no cost.
Spot Trading Fees
BTSE’s spot trading fees are deducted from the currency users receive during a trade. However, discounts are available based on the user’s VIP level, which is determined by monthly trading volume and BTSE Token balance. Naturally, higher VIP levels mean lower fees.
Additionally, market makers benefit from special discounts based on their contribution to the exchange’s total volume, with high-volume market makers potentially earning rebates.
Futures Trading Fees
Futures trading fees apply when users open or close their futures contract positions. They are subtracted from the user’s margin balance and calculated based on the Notional Value of the positions, i.e., the Mark Price (in USDT) multiplied by the Position Size (in crypto units). At the end, they are deducted from the user’s margin balance.
For instance, to use an example provided by BTSE on its fee page, if a user relies on 1 BTC worth of margin to open a 10 BTC position with 10X leverage, and the Mark Price stands at $29,400 USDT, the Notional Value becomes:
$29,400 [USDT] x 10 [BTC] = $294,000
Like spot trading, discounts are available for active traders according to their VIP level, and market makers enjoy reduced rates with higher trading volumes.
Deposit and Withdrawal Fees
Deposit and withdrawal fees have different structures for fiat and cryptocurrencies.
Non-USD SWIFT deposits under $100 USD come with a $3 USD fee. Non-USD fiat deposits and withdrawals, however, may also be subject to additional charges, such as bank fees, remittance fees, or transfer fees, which may or may not apply depending on the respective servicing banks that BTSE clients are using.
BTSE charges no fees for crypto deposits. Withdrawal fees vary depending on the cryptocurrency, and withdrawal limits are determined based on the user’s KYC Identity Verification level.
How to Get Started With BTSE
To trade on BTSE, you need to open an account. Creating an account is straightforward and comes down to providing an email address and coming up with a password, as well as completing a know-your-customer (KYC) verification. The KYC time will vary from user to user, so you might have to wait a day or two to start exploring the exchange and using it to its full potential.
To register on BTSE, follow these simple steps:
First, head over to the BTSE homepage and click on the Register button in the upper right corner (as shown below):
Next, you will be redirected to a new page where you can provide your email and come up with a username and password, as well as provide a referral code if you have one. Alternatively, you can use your Apple or Google accounts to sign in:
Once you’ve provided all the necessary info, check the box next to “I have read and agree to BTSE’s Terms of Use and Provision of Services” and click on the green register button:
Then, you will be redirected to a new page where you will have to enter a verification code sent to your email inbox. Simply paste the code in the designated field and click Verify:
Once you’ve pasted the code and clicked Verify, you’ll be able to explore the BTSE platform.
Is BTSE Safe?
While BTSE is not a regulated exchange, it prioritizes user investment safety, employing robust user protection measures and protocols to shield user accounts and transactions from potential threats. At the time of writing (July 2024), it has a score of 70/100 on CertiK, the leading security-focused ranking platform.
Instead of relying on third-party services to cybersecurity levels, BTSE operates its own technology and infrastructure. This in-house model allows the team to maintain tighter control over security measures and minimizes external risks.
Moreover, to safeguard user funds, BTSE stores 99.9% of assets in cold wallets, which are completely offline and thus safe from hackers and online attacks. Additionally, the platform maintains a substantial insurance fund to cover users in case of security breaches.
Moreover, BTSE implements two key security features: Two-Factor Authentication (2FA) and Know Your Customer (KYC) verification:
- Two-Factor Authentication (2FA) adds an extra layer of security by requiring a second verification code for login and critical account actions, significantly reducing the risk of unauthorized access;
- Know Your Customer (KYC) Verification helps prevent fraud and money laundering by verifying each user’s identity.
BTSE Pros and Cons
Pros
- Easy to use: BTSE has a fairly straightforward and user-friendly interface;
- Various withdrawal options: Users have crypto and fiat withdrawals at their disposal;
- Wide selection of cryptocurrencies and futures contracts: There are over 150 cryptocurrencies and over 50 futures contracts available on BTSE;
- No minimum investments: There are no minimum deposits on the platform;
- Mobile apps: BTSE has an iOS and Android app for trading on the go.
Cons
- Geographically limited: The exchange is not available in a lot of regions, including the US and some countries in Europe;
- No non-fungible token (NFT) marketplace: The NFT audience is not negligible, and BTSE has no marketplace to accommodate it;
- No demo accounts: However, users can practice trading with virtual funds for free before committing to the platform by using BTSE’s testnet;
- Not regulated by a financial authority: The is not regulated by a financial authority such as The Financial Industry Regulatory Authority (FINRA).
BTSE Customer Support and Community Platforms
All information regarding BTSE, its offerings, and its trading modules is available on its official website and elsewhere, as well as on its blog and social media platforms.
The main BTSE community and support channels include:
- Website: For the most important information, registration, and customer support, visit the official BTSE website;
- Medium: While not often updated, the BTSE Medium page still contains some interesting past updates;
- Blog: On the BTSE blog, you can find regular educational posts to gain more insight into the cryptocurrency market.
BTSE social media platforms:
- Telegram and Discord: Join the BTSE community on Telegram and Discord to receive updates and discuss crypto with other BTSE users;
- Instagram and Facebook: Follow BTSE on Instagram and Facebook for the latest news, updates, and announcements;
- X (Twitter): Follow BTSE on X for additional notifications and updates;
- YouTube: Subscribe to the BTSE channel for video updates;
- LinkedIn: Be sure to follow BTSE on LinkedIn as well.
You can also follow BTSE CEO Henry Liu and COO Jeff Mei on Linkedin.
Conclusion
In conclusion, BTSE appears to be a reliable platform in the cryptocurrency market. It comes with high-leverage trading options, automated trading tools, fee-free crypto conversions, and solid safety measures such as cold wallets and security funds.
However, it still has some limitations, the most striking one being completely restricted access for US users. Likewise, the exchange is not regulated by any official financial authority, which might deter some users. There is, however, a robust KYC model, which prevents money laundering and fraudulent activities.
There are also no minimum deposits, and the platform is easy to get a hang of, so its ideal users are probably newcomers to the market.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about BTSE
What is BTSE?
BTSE is a digital asset exchange platform.
Does BTSE require KYC?
Yes, KYC is required when registering on BTSE, and it might take a couple of days for the user to be approved.
Can you Bitcoin on BTSE?
Yes, you can buy Bitcoin on BTSE.
Can you buy crypto over the counter on BTSE?
Yes, BTSE has an over-the-counter (OTC) crypto market.
What cryptocurrencies can you trade on BTSE?
You can trade over 150 cryptocurrencies on BTSE, including Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP).
Is the BTSE exchange safe?
Yes, BTSE is considered a secure exchange. It employs security measures such as two-factor authentication (2FA), know-your-customer (KYC), and security funds.
Is BTSE regulated?
No, BTSE is not currently regulated by any financial authority.
Is BTSE available in the US?
No, BTSE is not available in the US and some other countries, including Belarus, Canada, Cuba, Eritrea, Iran, North Korea, Syria, Singapore, Taiwan, Russia, and Venezuela.
Can you try BTSE for free?
No, BTSE does not have a demo account.
Can you use BTSE on mobile?
Yes, BTSE has a mobile app.
What are the trading fees like on BTSE?
BTSE has a specific trading fee structure for futures and spot trading as well as withdrawals and deposits. For specific information, visit the BTSE fee page.
When was BTSE founded?
BTSE was founded in 2018.
Where are BTSE offices located?
BTSE offices are located worldwide, in Taipei, Singapore, Dubai, and other locations.
Who is the BTSE CEO?
The current BTSE CEO is Henry Liu.
Who is Jeff Mei?
COO Jeff Mei is the current chief operating officer of BTSE.
Who is Henry Liu?
CEO Henry Liu is the current chief executive officer of BTSE.
Does BTSE require KYC for futures trading?
No, BTSE doesn’t require KYC for futures trading.
