2021-2-26 13:22 |
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.
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:
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.
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
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.
Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.
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