Industry
How BTSE Creates Additional Value for Cryptocurrency Users with Earn Feature
Bitcoinist | Feb 26, 2021 | 10:22
The new BTSE Earn feature is undoubtedly the right step in the right direction for both users and exchange owners. With the new BTSE Earn, crypto-asset holders can earn interest on their assets. There is a range of Earn products the preferred assets of users. The new Earn feature on the BTSE cryptocurrency exchange will allow users to earn yield from their crypto assets.
The implication is that you can earn interest on your idle assets on the BTSE exchange without trading your assets. It is a new approach in the crypto space and certainly a welcome development for platform users. With the new BTSE Earn feature, the ecosystem caters to both traders and savers. Currently, there are flexible and fixed-term deposits available for crypto-assets like ETH, BTC, and some popular stablecoins. In the near future, BTSE is likely to release additional currencies for its teeming platform users.
Before we go further to explore the benefits of the BTSE Earn feature to asset owners, let’s understand the BTSE ecosystem.
The BTSE Cryptocurrency Exchange
BTSE exchange was co-founded in 2018 by Jonathan Leong, the CEO, and Brian Wong, the Chief Product Officer. Other team members include Joshua Soh (Chief Operating Officer) and Yew Chong Quak (Chief Technical Officer). Together, they created the BTSE ecosystem that offers a one-stop service to crypto traders worldwide. BTSE is the first exchange to introduce Monero (MXR) futures.
The platform witnesses more than $10 million volume worth of transactions as a result of the BTC/USD trading pair. Although the platform has had a low trading volume compared to Binance and Coinbase, it has maintained a low spread of 0.01%. Some of the top features of BTSE include:
- Near-Zero Downtime with its real-time hot upgrades.
- More than one million order requests per second, utilizing an institutional-grade matching engine.
- 99.9 % of all the funds are in cold storage, maintained with BTSE’s top security and unlimited daily withdrawals.
BTSE introduces institutional-grade crypto trading to the cryptocurrency industry. It acts as a go-between for the traditional financial system and digital assets of tomorrow. It is a platform that traders develop for both traders and savers. Some of the services provided by BTSE include asset management, OTC, lending, Defi, exchange, etc.
How Traders and Savers will Benefit from BTSE Earn Feature
Crypto asset traders and savers stand to gain a lot from the BTSE Earn. The flexible option that BTSE Earn introduces will allow users to unstake whenever they feel like it. Also, it will enable traders to earn interest on their idle assets. However, locked asset deposits mandate that tokens be staked for an extended period. The extended time for staked tokens offers a higher annual percentage yield (APY).
Users are not required to pay any deposit fee, and there is no minimum benchmark for deposits. The compatible cryptos include USD-pegged stablecoin Tether, USD Coin (USDC) and True USD (TUSD), and BTC and ETH. Users start to earn interest with BTSE Earn on their staked assets once they have determined the time period
Conclusion
The BTSE Earn feature will certainly attract more users to the platform and increase liquidity. This is a welcome development, but BTSE needs to incorporate additional features to compete favorably in the crypto exchange market.
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