What is Bitrue Coin (BTR) | What is Bitrue Coin | What is BTR coin
What is BTR about?
BTR is a so called platform token. It has been issued by a crypto exchange named “Bitrue”. Initially an ERC-20 token, it’ll be moved onto the XRP ledger eventually. BTR is structured in a way which grants holders certain benefits (more on that later) on Bitrue’s platform. There will be a maximum of 1,000,000,000 tokens which are split across various share- and stakeholders. The public offering ended on 6th June 2019. Tokens are expected to be free to trade on 30th June.
Bitrue is one of the many crypto exchanges from Singapore.
Singapore is together with Hong Kong the country in Asia where most crypto exchanges are from. There’s a fair share. But different from many other exchanges, Bitrue has HQs in both Taiwan and Singapore, and local offices also in US and Europe.
The team running Bitrue consists of “senior management team from Capital One”, and the CEO is a profile within the cryptocurrency industry: Curis Wang.
Bitrue’s CEO – Curis Wang
Bitrue supports trading in a decent number of cryptos. You can trade all of the biggest ones here and even many of the smaller altcoins.
Apart from spot trading, Bitrue is also the first exchange that launched an “interest-earn program”, supporting over 10 cryptos and with annual percentage rate of up to 15%. Bitrue was also the first exchange to launch crypto-backed loan services.
Liquidity
With respect to trading volume, Bitrue has a good standing. At the date of the last update of this review (21 March 2020, right in the middle of the crisis with COVID-19), Bitrue had a 24 hour trading volume of USD 218 million, placing it on place no. 64 in the world in terms of 24 hour trading volume according to Coinmarketcap’s list. USD 218 million in 24 hour trading volume is definitely decent, but compared to the big dragons on the crypto exchange scene, there’s of course some room for improvement still.
Mobile Support
Like most other exchanges, Bitrue also offers its trading platform as a mobile application. You can download it on App Store or to your Android without any effort at all. So, if you prefer to do your cryptocurrency trading on the go instead of at your desktop, don’t worry. Bitrue has got you covered.
US-investors
Bitrue does not list USA as a “prohibited country” or anything similar. So our belief is that US-investors may trade at this exchange. This belief is further supported by the fact that Bitrue also has offices in USA (also in Canada, Japan and Taiwan). US-investors should however do themselves the favour of forming their own opinion on any issues arising from their residency or citizenship.
Bitrue Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the trading views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at Bitrue:
Bitrue Fees
Bitrue Trading fees
This exchange doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. Their flat fee model is 0.098%. This far lower than both the global industry average (arguably 0.25%) and the domestic industry average.
The domestic industry average in Singapore for taker fees and maker fees for all Singaporean cryptocurrency exchanges listed in our Exchange List are as follows:
Taker fee industry average in Singapore: 0.29%
Maker fee industry average in Singapore: 0.21%
Bitrue’s 0.098% taker and maker fee is substantially below the above domestic averages.
Bitrue Withdrawal fees
This trading platform charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This fee is slightly below the global industry average (0.000812 BTC) and is thereby also a nice consumer-friendly feature of this trading platform.
Deposit Methods
At this exchange, you can deposit through credit cards if you deposit USD or EUR. According to info to us here at Cryptowisser, the platform is currently working on enabling credit card deposits for six other fiat currencies as well. Wire transfer deposits are however not possible.
Credit card deposits can be particularly helpful for newer crypto investors. As fiat currency deposits are at all possible here, this exchange qualifies as an “entry-level exchange”.
Bitrue Security
Bitrue states on their website that they have an “exceptional uptime record with decentralized structure and anti-DDOS protection system”.
How and Where to Buy Bitrue Coin (BTR)?
BTR has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin, ETH, USDT from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy BTR
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)…
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
Next step - Transfer your cryptos to an Altcoin Exchange
Since BTR is an altcoin we need to transfer our coins to an exchange that BTR can be traded. Below is a list of exchanges that offers to trade BTR in various market pairs, head to their websites and register for an account.
Once finished you will then need to make a BTC/ETH/USDT deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase BTR from the exchange.
Exchange: Bitrue, and OceanEx
Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once BTR gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
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