Sep 23, 2021
BTR Coin Cryptocurrency
Information on the crypto from Bitrue
The BTR coin is an interesting investment opportunity. It has a few unique features that make it stand out from the crowd and is worth looking into if you’re interested in diversifying your portfolio of cryptocurrencies.
What is a BTR coin?
BTR coin is a native digital asset of Bitrue crypto exchange. This exchange is based in Singapore, but they also have offices in the US and the second headquarters in Taiwan.
Bitrue as a crypto exchange was launched in 2018 by a group of crypto enthusiasts. It has been supporting over 10 major digital coins, as well as the popular altcoins. Bitrue also broke the record by being the first exchange to ever provide crypto-backed loans.
BTR coin was initially offered in 2019 as an ERC-20 token but has been gradually moving to the XRP ledger. Only 1 billion BTR coins will ever be traded amongst stakeholders and shareholders.
What about exchange platforms for tokens?
With over 2000 crypto assets available for trade, it’s hard to tell which ones will probably thrive sustainably. However, this changes for platform tokens like BTR coin. BTR coin is backed by an already existent crypto exchange- Bitrue. And, just like any other successful crypto exchange, Bitrue has a proven business model that’s already working.
Shareholders are set to benefit the most from a native token. Price discovery is one such benefit, which grows proportionally as the exchange. Basically, as the exchange grows, the liquidity also increases, which is a plus for the market participants. This, in turn, pushes for a reduction in trading fees and an introduction of voting for listings. These are some of the perks that BTR coin holders enjoy. This domino effect cycle has already been witnessed with BNB, a token coin offered by the Binance crypto exchange.
As the BTR coin gradually moves to the XRP ledger, one clear thing is that Bitrue will be a first-mover exchange. Since XRP was designed for mainly payments, it is highly scalable and provides the cheapest transaction rates, and is also one of the fastest digital assets to transact. This is why its liquidity is ever-growing. Currently, Bitrue has 48 XRP pairs listed, and the latter is now a base currency.
Judging from Coinmarketcap, XRP is steadily growing and has a big community. This makes Bitrue’s bet on XRP a less risky venture.
With BTR coin, the most notable advantage to the users is the discount on trading fees. There is also a vote for new coins, as well as better rates for deposits-earned interests. These higher interests are financed as part of Bitrue’s marketing strategy to widen their customer base. In addition, Bitrue buys back BTR with 20% of their quarterly profits.
The benefits of Bitrue exchange and owning BTR coins
Trading BTR comes with several benefits. These include:
• Lower Bitrue trading fees
Unlike other exchanges that charge takers and makers differently, Bitrue charges both the takers and makers the same fee, with a flat fee model. The model charges 0.098%, which is by far lower than the 0.25% industry average, both domestically and globally.
• Lower withdrawal fees
Again, Bitrue makes it possible for traders holders to withdraw at a much cheaper rate. This is because the withdrawal fee is currently 0.0005BTC on withdrawing BTC, compared to the average global charge of 0.000812 BTC. This makes Bitrue a consumer-oriented crypto exchange.
• Ease of depositing
If you are a new investor in crypto, Bitrue will be a good fit for you because you can deposit via a credit card. You can deposit in any of the most powerful currencies, i.e., USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN USD, and EUR. The availability of these fiat currency deposits (through credit/debit cards) makes it an ideal choice for crypto-investment beginners.
• Higher interest rates for investors
As stated earlier, Bitrue offers an interest on all BTR bought and held for a given amount of time. Notably, the interest rate is higher than any other similar offer in the market today.
Challenges/risks of owning BTR coin and trading on Bitrue
Bitrue is not without a blemish. Here are a few unattractive aspects:
• No support for wire transfers or direct bank deposits
Right now, BTR is a crypto exchange that supports only crypto-to-crypto and credit card transactions. This might be a challenge for BTR people who want to hold BTR coins but need them for day-to-day transactions outside of the exchange.
• Safety concerns
Although Bitrue boasts an exceptional uptime record for a decentralized structure, experts believe the website might have vulnerabilities that hackers can exploit. BTR users are advised to be cautious and act wisely around Bitrue’s platform.
• Issues with XRP
Since BTR is heavily focused and based on XRP, any severe issues with XRP might reflect on BTR and could even result in a 100% loss severity. Although these things are improbable to happen, BTR users should be cautious about BTR and XRP linked news.
