BTSE BTSE Token

BTSE Token Use Cases

The BTSE Token is designed to enhance the user experience within the BTSE ecosystem. Here are some of its key use cases:

• Save: The BTSE Token allows users to save up to 60% on trading fees, depending on their token holdings and trading volume.
• Earn: Users can increase their referral bonus up to 40% based on their token holdings. Additionally, they can unlock bonuses during campaigns and contests, and enjoy increased limits and rebates on selected services.
• Spend: The BTSE Token can be used to purchase various products and services within the BTSE ecosystem, such as platform services, advanced trading functions, listing fees, and more.
• Trade: Users can trade the BTSE Token on BTSE's spot market and use it as collateral and margin on all their trades.
• Staking: By staking BTSE Tokens, users can enjoy benefits like 0% maker fees on all markets, with the potential to earn rebates at higher staking levels.
• Wrapped BTSE Token: The wrapped BTSE Token, an ERC20 token, allows users to participate in the DeFi ecosystem, enabling trading on decentralized exchanges like Uniswap and Sushiswap, lending, borrowing, and other decentralized applications.

Pros of BTSE Token

• Wide Range of Digital Assets: BTSE offers over 100 cryptocurrencies, providing users with a diverse portfolio management option.
• Robust Derivatives Tools: The platform includes spot and futures trading markets with advanced interfaces, catering to both beginners and experienced traders.
• Competitive Fees: BTSE has lower fees compared to leading exchanges, making it more cost-effective for traders.
• Strong Security Measures: The exchange provides insured protection for user funds, enhancing security.
• User-Friendly Mobile App: BTSE offers a convenient mobile app for trading on the go.
• Copy Trading Features: Users can benefit from copy trading, which allows them to follow and replicate the trades of experienced traders.
• Multiple Fiat On/Off Ramps: The platform supports trading in around 16 different fiat currencies, making it easier for users to buy and sell cryptocurrencies.
• Staking and Lending Services: BTSE provides staking and lending options, enabling users to earn passive income from their digital assets.

Cons of BTSE Token

• Limited Brand Recognition: BTSE has less brand recognition compared to major competitors.
• Fewer Crypto Assets: Although it offers over 100 cryptocurrencies, it has fewer assets available compared to larger platforms like Binance.
• Customer Support: The exchange lacks live chat integration, which can make customer support less responsive.
• US Users Not Supported: BTSE does not support users from the United States, limiting its accessibility.
• Below Average Customer Support: The platform's customer support system needs improvement to better serve its users.

Founders of BTSE Token

BTSE was founded in 2018 by Jonathan Leong, an established technology entrepreneur with more than 15 years of experience developing high-performance, mission-critical systems. Wong, another key figure, has a decorated background, having served in several financial institutions, including Goldman Sachs, and has built a successful high-speed trading product aimed at capturing inefficiencies in Asia financial markets.

Current Leadership

Today, BTSE is run by CEO Henry Liu and COO Jeff Mei. Liu worked in merchant banking and started his career in blockchain in 2016. Mei leads global expansion and strategic operations, with experience in driving growth and development in both the blockchain and traditional finance industries. Together, Liu and Mei continue to uphold BTSE's commitment to providing a secure and user-friendly platform for trading cryptocurrencies and bridging traditional finance with digital asset solutions.

Investors in BTSE Token

• Primary Investor: The primary investor in BTSE is a leading family office based in Hong Kong.
• Other Investors: The fundraising round also attracted investments from a range of other backers, including various family offices.

Key Points

• Fundraising Round: BTSE completed its Series A fundraising round, achieving a $400 million valuation.
• Total Raised: The round raised a total of $22 million.
• Investment Purpose: The investment is critical for BTSE's transformation into a comprehensive digital bank that encompasses both fiat and cryptocurrencies.

Halal Status of BTSE Token

No, BTSE Token is not halal because it is primarily associated with a cryptocurrency exchange that facilitates various financial activities, including those that may involve interest (riba) and excessive uncertainty (gharar), which are prohibited under Sharia law.

Key Considerations:

• Exchange Activities: Cryptocurrency exchanges often engage in activities that may not align with Sharia principles, such as trading derivatives and other financial instruments that involve interest or excessive uncertainty.
• Token Use Case: The primary use case of exchange tokens like BTSE Token is to pay for transaction fees on the exchange, which indirectly supports and promotes the exchange's activities, including those that may be haram.
• Sharia Compliance: For a cryptocurrency to be considered halal, it must adhere to Sharia principles, including the prohibition of interest (riba), clear and ethical business practices, and avoidance of activities considered haram, such as gambling and alcohol-related businesses.