Category: Reviews

The MetaMask wallet has 10 million MAU (Monthly active users). MetaMask is a trusted and secure crypto wallet that comes as a mobile app and a browser extension. It’s a digital wallet that can easily be integrated with different blockchain-based applications. Read on for our MetaMask review to learn about the key attributes of this cryptocurrency wallet and how it rapidly became the world-leading noncustodial wallet.

But before we go further with our ultimate review, let’s briefly look into various cryptocurrency wallets that exist in the cryptoverse.

MetaMask Defined

MetaMask wallet is one of the most widely used web-based Ethereum wallets. MetaMask serves as a bridge between your standard browser and the Ethereum blockchain. It was created by ConSenSys in 2016 and has raised over $250m, with a current valuation of $3.2bn.

MetaMask comes as a browser extension and mobile app that lets you access the Ethereum blockchain from the comfort of your web browser. It provides an essential utility for blockchain newcomers, token traders, crypto gamers, and developers. MetaMask equips you with everything you need to manage your digital assets, i.e., a key vault, secure login, token wallet, and token exchange.

MetaMask provides the simplest yet most secure way to connect to blockchain-based applications, enabling you to stay in control when interacting on the new decentralized web. It’s an Ethereum digital wallet that simplifies access to decentralized applications (dApps), including crypto exchanges, gaming platforms, and staking opportunities.

MetaMask is supported by Google Chrome, Firefox, Edge, and Brave browsers. It allows you to manage ETH-based tokens like ERC-721 and ERC-20 and digital assets from Binance Smart Chain and other blockchains. MetaMask provides flexibility to switch between other networks and the convenience of connecting multiple wallets.

dApps

Decentralized applications (dApps) are digital applications or programs that exist and run on a blockchain or peer-to-peer (P2P) computer network instead of a single computer. Most common dApps run on the Ethereum blockchain. Decentralized apps run on an agreement between two people encrypted in a computer code known as a smart contract.

Unlike DeFi, which is mainly designed for financial activities, dApps are built for various purposes, i.e., gaming, education, gambling, etc. 

MetaMask integrates with a variety of dApps built on the Ethereum blockchain. Examples of common dApps are: 

• Uniswap (Exchange)  
• Axie Infinity (Games) 
• Uniswap V3 (DeFi)
• OpenSea (Marketplace)
• ShibaSwap (DeFi) 

DeFi 

DeFi stands for decentralized finance and enables you to carry out regular financial activities on the blockchain without the centralization of banking institutions. MetaMask provides unrivaled access to DeFi without compromising security, operational efficiency, or compliance requirements. The most common DeFi apps built on the Ethereum blockchain are MetaMask Swap, Sushi, Hex, and AAVE.

MetaMask Swap 

MetaMask Swap allows users to swap tokens directly from their wallets. Swap combines data from multiple decentralized exchange aggregators, professional market makers, and individual DEXs. 

The MetaMask Swap feature enables any Web3 or DeFi user to easily access the tokens they need for the sites they use. By integrating data from the largest liquidity sources in the ecosystem — including Uniswap, AirSwap, 0x API, 1inch.exchange, Paraswap, Totle, and dex.ag — MetaMask Swap lets users access all decentralized liquidity sources from one place.

Sushi 

Sushiswap is a decentralized exchange built on the Ethereum network. You can use Sushi Swap to trade one cryptocurrency for another directly — it can’t be used to trade fiat for crypto or vice versa. 

Hex 

HEX is just a single smart contract (“App”) on the Ethereum ecosystem. It’s the first certificate of deposit on the blockchain and follows the ERC20 standard making it compatible with many wallets and exchanges. You have to pay a fee to the Ethereum network every time you send HEX.

AAVE 

AAVE is a decentralized finance (DeFi) protocol built on the Ethereum network that lets people lend and borrow cryptocurrency without having to go through a centralized intermediary. When lending, they earn interest; when borrowing, they pay interest.

How to Setup MetaMask?

Setting up MetaMask is pretty straightforward and similar to downloading a Chrome extension. Follow the steps described below to install MetaMask.

• Go to MetaMask’s official website www.MetaMask.io 
• Click on the download button. MetaMask presents you with the four browsers it supports. Google Chrome, Firefox, Brave, and Edge. It also has an Ios and Android app.

• A MetaMask icon will appear on the browser. Install the MetaMask extension on your browser and proceed. Click on get started to move to the next step.

• If you already have a MetaMask account, enter your seed phrase, and if you are a new user, click on create a wallet to move to the next stage. A seed phrase is a series of words generated by your cryptocurrency wallet that give you access to the crypto associated with that wallet.

• Create your secondary password for your MetaMask wallet.

• MetaMasks gives you some orientation on securing your Seed recovery phrase. It’s essential to keep this secret and never share it with anyone. Write it down somewhere because you will need to re-enter it in the next step to confirm it. 
• After you confirm your seed phrase, you are all done. Congrats! 
• To customize your MetaMask wallet and view your public key, click the three dots on the left-hand side of your wallet and select account details.

How to Use MetaMask?

Now that you have installed and set up your MetaMask wallet let’s explore what you can do with it. You can use MetaMask wallet to:

• Buy and store your ETH and custom tokens (i.e., ERC tokens).
• Send and receive transactions between standard Ethereum addresses, such as those owned by individuals and merchants.
• Access dApps and pay for your transactions.
• Store your collectibles and non-fungible tokens (NFTs).
• Swap or exchange your ETH tokens on decentralized exchanges like Uniswap. 

Buying Ethereum or ERC – 20 Tokens With MetaMask 

The process of buying Ethereum is straightforward – all you need to do is click on the Buy button in your wallet. You have the option of buying Ethereum with ” Wyre ” and ” Transak “or depositing Ether into your new wallet by direct deposit.

Sending Ethereum or ERC -20 Tokens With MetaMask 

To send Ether and ERC-20 tokens, click “Send” enter the address where you want to send and the amount. Then confirm the transaction by clicking “Accept.” 

Swapping Ethereum or ERC – 20 Tokens With MetaMask 

To Swap one Eth-based token for another in MetaMask, click ” Swap, “then choose your token from the drop-down menu below. You can add a custom token if you don’t find the one you’re looking for. 

Storing Your Collectibles and Non-Fungible Tokens (NFT)

You can buy and store any non-fungible token in your MetaMask wallet. Once you connect your MetaMask, all you need to do is purchase any NFT art or collectible, and it’ll automatically move into your wallet under the “collectibles” tab. 

MetaMask makes it extremely easy to swap your collection, show it to friends, or sell directly from the app on your phone. 

You can easily access Open Sea, a Decentralized App built on the Ethereum blockchain, and the largest market for NFTs from your MetaMask wallet. 

Connecting and Accessing dApps With MetaMask

One of the unique attributes of MetaMask is its ability to connect its users to a host of Decentralized Applications. MetaMask serves as a bridge between your web browser and dApps. Go to Settings and select Connections to link or connect a dApp to your MetaMask wallet. Choose an Existing dApp from the drop-down menu or add a new one in the Taskbar, and click Connect. 

Components 

To get the best out of your MetaMask wallet, combine it with a good hardware wallet. 

MetaMask and Hardware Wallets 

MetaMask is a hot wallet connected to the Internet, which means it’s vulnerable to online attacks. The most trusted and secure means of storing crypto assets offline in hardware wallets. Some of the best hardware wallets include the Ledger Nano X, as well as the Trezor Model T. MetaMask supports some of the most widely used hardware wallets, so, for maximum protection, it’s best to combine your MetaMask wallet with a hardware wallet.

How to Combine Your Meta Mask With Ledger Nano X?

To set up a Ledger Nano X hardware wallet, visit their official website and follow the instructions. Then, Install the Ledger Live Application.  

Step #1: Connect Your Ledger to Your Computer

Your first step is to plug your Ledger device into your computer, ensure it powers on, and then input the pin you choose when setting up your Ledger device.

Step #2: Select the Ethereum Application

Ledger hardware wallet supports a host of cryptocurrencies. To connect your MetaMask wallet, you need to open the Ethereum application on your Ledger Nano.

Step #3: Make Sure Contract Data Is Turned On

Once the Ethereum application is open, press the right side button, locate the “Settings” option, and press down on both buttons to open the menu. Then select “Contract Data” and click on “Yes.” Once you set up your Ledger device for the first time, you won’t have to do it again each time you want to use it with MetaMask.

Your Ledger is now ready!

Step #4: Open MetaMask

Since you have already installed MetaMask, you need to open up your browser and click on the MetaMask icon to interact with the application.

Step #5: Connect MetaMask to Your Ledger

Click on “Connect Hardware Wallet,” click on Ledger to select it, and click CONNECT. Next, you will be shown a list of ETH addresses. If this is the first time you set up a wallet, simply select the first address, then click CONNECT.

You have now connected your Ledger to MetaMask!

MetaMask Security 

MetaMask is considerably safe among hot wallets, and there have been no major hacks on it. However, while it doesn’t store your sensitive data, the web browser does, and most hacks occur through social engineering schemes and phishing.

Remember to NEVER give out your seed phrase to anybody; otherwise, you risk losing all your crypto holdings and beware of hackers posing as an authoritative body and asking for your seed phrase.

Also, remember to use only one tab at a time and keep the wallet locked when not using it. 

MetaMask is relatively safe, but MetaMask is often merged with a hardware wallet like the Ledger Nano X and the Trezor Model T to ensure security. 

MetaMask Fees 

MetaMask extension is free to download and install; however, default gas fees are applied for every transaction conducted on it. A gas fee refers to the transaction fee on the Ethereum blockchain that users pay to get their transactions validated or completed.

MetaMask recently released its swap function, enabling users to swap Ether for a range of ERC-20 tokens for a service fee between 0.3% and 0.875%. 

MetaMask Alternatives 

MetaMask is the most widely used software wallet with over 21 million registered users. There are other alternatives to MetaMask which are equally popular amongst crypto traders, such as:

• Coinbase 
• Trust Wallet 
• My Ether Wallet  

Conclusion 

Our ultimate MetaMask wallet review revealed why it’s the most widely used software wallet out there. It’s very easy for beginners to navigate and allows users to interact with smart contracts and in-demand Decentralized Apps, all from the comfort of your favorite web browser.

MetaMask is an Ethereum based wallet, and the Ethereum blockchain is an essential component of Web 3. With over 21 million active users monthly, it’s the world’s leading noncustodial crypto wallet and a big driver of the Web 3 future, a decentralized internet experience for everyone.  MetaMask also gives you control over your holdings, eliminating the need for government and Big tech.

MetaMask is open-source software constantly updated by a global network of developers and its strong community.

Kyber Network is a multi-chain crypto trading and liquidity hub that connects liquidity from different sources to enable trades at the best rates. As a decentralized protocol, Kyber Network facilitates cryptocurrency exchanges without KYC or a middleman and enables on-chain transactions that are entirely transparent and verifiable.

KyberSwap, the network’s flagship product, is a next-gen DEX aggregator that enables users to swap, earn, and seamlessly participate in DeFi on each of the 13 supported chains. As a DEX aggregator, KyberSwap sources liquidity not only from its own pools but also from over 70 DEXs across its supported networks and is equipped with yield optimization protocols to ensure the best rates and returns. 

This Kyber Network review will look into the Kyber Network, its services, products, trading fees, etc., and assess the KNC tokens’ long-term adoption potential and use cases.

What Is Kyber Network?

Kyber Network’s goal is to make Decentralized Finance accessible, cheap, fast, and secure for all users.

A pioneer in the DeFi space, Kyber Network launched in 2017 under Vitalik Buterin’s mentorship with a successful ICO raising $52 million. Kyber Network has evolved to a project committed to making DeFi easy and accessible for all – including KyberSwap, the most advanced DEX & Aggregator in DeFi, KyberDAO, the governance community at the forefront of DeFi, and Kyber Ventures, Kyber’s investment arm supporting Web3 founders to build the future of decentralized technologies.

Over the past 5 years, Kyber Network has been driven by innovation and dedication to become one of the top DEXs in the DeFi space. Their core product, KyberSwap, is a next-gen DEX aggregator providing the best rates for traders and maximizing returns for liquidity providers in DeFi.

As a decentralized exchange, KyberSwap connects traders to liquidity pools rather than an order book. The protocol’s smart contracts provide liquidity and enable users to complete transactions without intermediaries.

Currently deployed on 13 chains, including Ethereum, Polygon, BNB, Avalanche, Fantom, Cronos, Arbitrum, BitTorrent, Velas, Aurora, Oasis, and Optimism, KyberSwap aggregates liquidity from over 70 DEXs to give users the best rates possible for their swaps.

For liquidity providers, KyberSwap has a suite of capital-efficient protocols designed to optimize rewards. KyberSwap Classic’s Dynamic Market Maker protocol (DMM) is DeFi’s first market maker protocol that dynamically adjusts LP fees based on market conditions, while KyberSwap Elastic is a tick-based AMM with industry-leading liquidity protocols and concentrated liquidity, customizable fee tiers, reinvestment curve and other advanced features specially designed to give LPs the flexibility and tools to take earning strategies to the next level without compromising on security. Liquidity providers can add liquidity to KyberSwap pools and earn fees and incentive rewards.

To date, KyberSwap powers 100+ integrated projects and has facilitated over US $11 billion in transactions for thousands of users since its inception. 

Despite its similarities with other exchanges, Kyber provides a unique platform to users enabling them to easily trade one token for another through a liquidity pool by combining several cryptocurrencies.

What Makes KyberSwap Unique?

The introduction of decentralized exchanges bridged shortcomings in centralized systems’ operations, such as increased expenses and taxes, sluggish transaction rates, indiscriminate wallet locking, increased exposure to insecurity, etc.

However, decentralized exchanges also have vulnerabilities, including significant expenses for trade modifications in order books and lack of liquidity, a key component in the DeFi ecosystem. Kyber Network Crystal introduces the KNC and develops liquidity pools by collecting liquidity from various digital tokens.

The Network makes the liquidity pools always available to investors. As a result, investors who don’t have booking orders can trade directly from their wallets. However, traders will maintain custody of their tokens throughout the process. 

KyberSwap facilitates swapping cryptocurrencies at the lowest possible cost for each protocol transaction.

Kyber Network is also compatible with other protocols and is called a developer-friendly project by the crypto community. The protocol that wishes to connect with KNC must operate on a blockchain-powered by smart contracts.

Several companies, DApps, and wallets have already integrated the Kyber platform into their projects or businesses, such as InstaDApp,  MetaMask, SetProtocol, bZx, AAVE, Coinbase, etc. According to the Kyber Network website, the project has already received over 100 integrations.

Kyber Network Features

The Kyber Network is not just a decentralized cryptocurrency exchange but also a digital asset transfer platform. It facilitates the exchange process by allowing users to transmit tokens and receive any token they choose. Let’s have a closer look at its features.

KyberSwap

The KyberSwap mechanism enables the instant swapping of cryptocurrencies without using order books, deposits, or wrapping. The exchange constantly routes queries via numerous centralized exchanges and liquidity pools to get the best price. Clients can optimize their swaps for either the lowest gas prices or the highest returns. Variable slippage tolerance and critical pre-trade information such as minimum returns and predicted USD value are also available.

Kyber Developer

This developer-friendly mechanism provides developers with the tools and documentation to integrate new apps, wallets, exchanges, and platform enhancements into the DeFi ecosystem.

Kyber Network Fees

KyberSwap Fees

Unlike some DEXs, KyberSwap does not charge any aggregator, management, or platform fees. Liquidity providers earn 90% of their fees, while the remaining 10% goes to the KyberDAO for governance rewards. These rewards are paid out in KNC and are distributed to KNC holders who stake and vote on governance proposals based on the proportion of their stake.

Kyber Network doesn’t charge any withdrawal fees, which makes it a highly competitive offering. However, it should be noted that there are also exchanges that pay the network fees for the traders’ advantage, i.e., their withdrawal fees are 0. On the other hand, the network fees are rather insubstantial; therefore, charging the network fees solely is also a trader-friendly fee arrangement.

Buying & Storing KNC

You can buy KNC tokens through various cryptocurrency exchanges, such as Coinbase, Binance, etc. The former is headquartered in the United States, while the latter is an offshore exchange. There’s a spread in the trading volume of the digital asset at these exchanges, which indicates that KNC’s liquidity has no dependence and concentration on a single exchange. Moreover, every exchange book gives you high liquidity. For example, the Binance BTC/KNC books are diverse and have a high turnover resulting in faster order execution.

KNC is an ERC20 token that can be stored in any Ethereum-compatible wallet, including MyEtherWallet, MetaMask, and CoinStats Wallet.

KyberSwap Team

The team has an experienced and skilled advisory board comprising Vitalik Buterin, the Ethereum founder.

The protocol’s testnet became operational in August 2017. The Network’s initial coin offering (ICO) raised $60 million, the equivalent of 200,000 ETH, in September 2017.

The mainnet was launched in February 2018 and was only accessible to whitelisted users. In March 2018, the KyberSwap platform launched the mainnet as a public beta. The network volume increased by over 500% by the end of the second quarter of 2019.

Kyber Network (KNC) Token

KNC is the Kyber Network’s native token, released in 2017. The KNC price during the Initial Coin Offering (ICO) was $1 per token. Only 61% of the 226 million KNC raised for the ICO were sold, and the remaining share was split 50/50 between the founders/advisors and the company. The lockup term for this control is one year, while the vesting period is two years.

At the time of writing, the total supply of KNC was 223 million, with over 102 million tokens in circulation and a market capitalization of $116.5 million, as per the data available on CoinStats.

The token effectively supports the Network by connecting liquidity seekers and liquidity providers.

KNC is also the Kyber Networkecosystem’s governance token. Token holders can stake KNC tokens on KyberDAO to vote on platform updates, boost their value, and improve adoption rates. This will also increase the project’s functionality and value. The tokens are staked in cycles called “epochs,” which are measured in Ethereum block timings and have a time span of two weeks. Holders are entitled to a portion of the fees generated by the protocol’s liquidity pools.

KNC is also a deflationary token, i.e., a percentage of the token generated by fees is burned to decrease the cryptocurrency’s total supply. Deflation has a beneficial effect on the asset’s economic flow.

Note: Currently, the KNC supply is fixed until the KyberDAO votes to burn or mint more.

The protocol burned its first 1 million KNCs in May 2019 and the second 1 million KNCs in August 2019. While the first burning occurred 15 months after the launch, the second one was only after three months following the first, demonstrating the protocol’s rapid growth and acceptance.

Frequently Asked Questions

What Is the Kyber Network Crystal Token?

KNC has several applications as the blockchain’s native token, such as staking for passive income rewards, platform governance, etc.

Is the Kyber Network Safe?

As Kyber Network is a non-custodial, decentralized exchange, users need to link their wallets to begin trading while preserving anonymity and complete control of their crypto assets.

Kyber Network’s codebase has been audited by top audit firms Chainanalysis and Hacken and is available for public record.

Conclusion

Kyber Network aims to become a leader in the DeFi community for facilitating reserve liquidity through its functionality and operations. It offers liquidity by aggregating liquidity from several sources and is powered purely by code, a distributed network of software users, and the Ethereum blockchain. 

To reach its goal, the Kyber Network provides a protocol for decentralized exchange, an application programming interface (API) for token swaps, and the KNC cryptocurrency. The Network’s growth trajectory is strong, notably through quick token trades.

The protocol will increase trading volume, and KNC token demand as the Network’s utility in DeFi grows.

We hope our Kyber Network review has been helpful for your crypto trading!

You’re also welcome to visit our CoinStats blog to discover a broader perspective on decentralized finance and how it seeks to empower people. 

Investment Advice Disclaimer:  The information contained on this website is provided to you solely for informational purposes and does not constitute a recommendation by CoinStats to buy, sell, or hold any securities, financial product, or instrument mentioned in the content, nor does it constitute investment advice, financial advice, trading advice, or any other type of advice.

As a cryptocurrency trader, you were undoubtedly faced with the dilemma of having to choose an exchange to suit your investment needs among a staggering number of cryptocurrency exchanges out there.

To help you pick the right trading platform that suits your needs, CoinStats regularly reviews leading platforms like Binance, Coinbase, or Kraken and relatively small but reliable platforms like the Bibox exchange and presents their advantages and drawbacks.

Bibox is a decentralized cryptocurrency exchange platform for trading cryptocurrencies and earning on crypto. Bibox offers users decentralized financial (DeFi) services through its intuitive and user-friendly platform integrated with different AI-based modules. It has impressive liquidity pools for various assets and other advanced trading features.

Bibox exchange was launched in 2017 in Singapore and has recently announced its intention to open Bibox Europe.

Our Bibox exchange review will take you through one of the most popular decentralized crypto exchanges, discuss the Bibox platform’s services and products, pros and cons, trading fees, security, etc., and demonstrate how to start trading on the platform to maximize profits.

What Is Bibox?

The Bibox decentralized exchange is a Singapore-based cryptocurrency exchange founded in 2017 by an experienced team comprised of Bitcoin enthusiasts, entrepreneurs, professional traders, investors, etc. Bibox has offices in the US, Canada, Switzerland, Japan, Estonia, etc., and has announced its intention to open Bibox Europe.

Bibox is the first AI-enhanced crypto exchange platform and reports an average trading volume of $200 million daily. However, there are times when Bibox trading volumes aren’t backed with actual liquidity, raising accusations of the platform’s wash trading in the crypto world.

Bibox supports over 90 crypto assets and 200 trading pairs. In addition to major cryptocurrencies, such as BTC, ETH, USDT, etc., Bibox lets its users trade a wide range of lesser-known altcoins. The exchange also has its own native Bibox token BIX, through which traders get up to a 50% discount on trading fees.

Bibox allows users to perform crypto swaps and trades and earn through crypto-backed loans and digital mining. The platform has an intuitive user interface with advanced features such as an order book, trading history, and customizable charts for crafting a seamless user experience.

This Bibox exchange review has explored the exchange’s key features and services to help you decide if Bibox exchange is a suitable platform for you.

Bibox History

The Bibox exchange was founded by a group of Chinese crypto experts and blockchain developers. The project was launched in 2017, at the peak of ICO popularity, and managed to bring together top specialists from Binance, OKCoin, and Huobi exchanges. Today the platform has offices in Canada, the US, Singapore, Japan, Switzerland, etc.

The Bibox exchange team members include founder, crypto entrepreneur, and investor Aries Wang, Meilun Li, product manager at Bibox, and director of operations Guojie Liu.

In the Whitepaper, the developers promised to make the exchange different from competitors by offering innovative tools and ensuring it could simultaneously serve up to 10 million people.

As a decentralized cryptocurrency exchange, Bibox isn’t regulated by any centralized authority.

Bibox claims to comply with the local regulations and laws of the geographic regions where it operates.

How Does Bibox Work?

As mentioned, Bibox has an intuitive interface with features like an order book, trading history, and adjustable charts. Bibox supports margin trading, stop-limit orders, leverage trading, etc., and offers automated trading bots. Moreover, the platform provides a high transaction speed (<1 second) and is assessed as objectively convenient for trading.

Investors appreciate the exchange for various investment solutions for stable passive income. In addition, the Bibox exchange provides such services as detailed training and operative technical support via e-mail, a cloud, grid and copy trading, a network for swapping altcoins, the Bibox Lab, etc.

The Bibox affiliate referral program allows users to earn 20% -50% of the exchange’s net income from the invited participant.

Is Bibox Regulated?

Like other decentralized exchanges, Bibox is self-regulated and has a less stringent verification process. Users don’t have to go through KYC verification and can start trading right away.

Bibox Technology LTD is registered in Estonia. The user agreement states that the platform operates within the framework of the countries’ laws where it operates. The company has operations centers in the US, South Korea, Canada, Singapore, Switzerland, Japan, etc.

Bibox Key Features

Bibox is a user-friendly and feature-rich cryptocurrency exchange with high-security features and a wide range of supported coins and trading pairs, suitable for both newbies and experienced crypto traders.

However, the platform doesn’t support fiat currencies, so traders must acquire their cryptocurrency from another platform before using the Bibox exchange.

Bibox key features are:

• Intuitive interface
• AI-run algorithms for a better crypto trading experience
• Support of a wide range of cryptocurrencies
• The Bibox native token – BIX
• Zero deposit fees 
• Low transaction fee (0.1%) compared to other cryptocurrency exchanges. 
• High-security level.

Bibox Token

Bibox has issued its own native BIX token in compliance with the ERC-20 standard. Initially, the developers planned to issue 500 million crypto coins, but later the amount was limited to 270 million. The token is designed to attract investments and develop the exchange platform’s functionality.

 The BIX token has the following use cases:

• Trading Fee Discount: Bibox token holders enjoy discounts and reduced trading fees on the Bibox platform.
• Voting Rights: Token holders can vote on the Bibox exchange development issues.
• BIX Incentive Reward: The Bibox exchange buys back and regularly burns a certain amount of BIX.
• Treasure Box Program: The program ensures that BIX token holders who lock their tokens receive an incentive.
• Bibox Orbit: Bibox Orbit is the exchange’s IEO launchpad. BIX token holders can participate in the Bibox Orbit to buy into listed projects.

 Mobile App

Traders can use both the official desktop and mobile apps for iOS and Android. The mobile applications are as user-friendly and attractively designed as the website. They provide seamless navigation and are designed for users trading on the go.

Desktop Application

The Bibox exchange desktop application has an intuitive trading interface with extensive settings, different indicators, and charts to meet any trader’s demands. The functional screen can be customized, and key zones can be configured.

Registration

Anyone can register on the Bibox platform without any location restrictions. The registration process is standard – you must provide your e-mail address, create a password, and verify your e-mail through the link sent to you. 

Trading on Bibox

After registering a Bibox account, traders get access to financial transactions and can place several order types such as Limit Order, Stop Profit/Loss, DPL, Iceberg Order, Followorder, and Advanced limit order.

To make transactions with your Bibox trading account, you must select a trading pair in the upper left corner, choose the order type and enter the number of coins you want to purchase or sell. Once the details are specified, you can click on the “Buy” or “Sell” button.

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Deposit and Withdrawal Methods

The Bibox deposits and withdrawals can only be made in the form of crypto assets, as the exchange doesn’t support fiat money on the platform.

Depositing currency to the platform comes with zero fees.

You must log in to your Bibox account, select the Deposit/ Withdrawal button, enter the amount of currency to be deposited or withdrawn, and confirm the transaction.

There is a withdrawal limit on the number of crypto assets, and the limit can be increased after undergoing a verification process.

Bibox Trading Fees

Bibox fees are quite competitive compared to other crypto exchange platforms. The trading fee for takers is 0.20%, and the fee for makers is 0.075%.

Bibox fees also gradually decrease as the client gains new levels. Low trading fees can be further reduced if trading with the native BIX token. Bibox provides a 50% trading fee discount during the first year, which is reduced to 25% the following year. 

Regarding Bibox withdrawal fees, the exchange charges a withdrawal fee, i.e., network transaction fee, which varies depending on the cryptocurrency you’re withdrawing.

Bibox Services and Products

The Bibox exchange platform provides the following trading options:

• Spot Trading
• Margin Trading
• C2C Trading
• Swap USDT
• Coin Swap.

What sets Bibox apart from other crypto exchanges is the constant improvements and various products/services implementations.

Bibox implements services focused on helping traders to perform all operations on the same platform, including:

• Fixed Investments: For investors seeking to buy and hold assets for long periods and not affected by the market fluctuations in the short term.
• DeFi Mining: For users wanting to gain profits by mining for the platform and offering computer power.
• Swap for Crypto Assets: Users can swap their crypto assets and get high returns.
• Bibox Labs: To foster innovation and creativity in kids by focusing on robotics and STEM learning through Playful learning.

Bibox Earning Opportunities

The Bibox exchange platform provides several earning options, including:  

• Current Financing: It allows users to gain profit by holding assets. Current financing has a 7-day cycle, counting from the date interest is credited. As soon as the term expires, the client manually withdraws the profit; otherwise, the funds will go to the investment fund account.
• Land/Earn: It allows Bibox users to borrow the tokens available on the account to gain interest.
• Computing Power Lease: This section provides offers users can accept to earn commissions.

Bibox Security Features

So, is Bibox safe?

Bibox exchange hasn’t registered any hacking incidents due to the latest security measures on the platform. To protect client accounts, Bibox implements such security protocols as SSL encryption technology, multi-factor authentication, and Google’s 2-Step verification. Moreover, Bibox claims to store most user funds offline in cold storage wallets.

The user is immediately prompted to enable two-factor authentication (Google Authentication or SMS authentication) and set up an anti-phishing code.

We highly recommend using a reliable crypto portfolio tracker like CoinStats, to manage all your crypto assets across several exchanges and wallets from a single platform.

Customer Support

Bibox has a reputation for prompt and efficient customer support, available in English, Chinese, and Korean. There are several ways to contact the Bibox support team:

• Feedback form (ticket)
• E-mail
• WeChat
• Telegram.

Bibox also has official pages on social media, including Facebook, Twitter, Reddit, Weibo, LinkedIn, etc. All the links are provided on the Bibox website.

Conclusion

The Bibox cryptocurrency exchange offers a rich suite of cryptocurrencies, tokens, and several advanced trading options, such as leveraged trading, margin trading, etc. The platform stands out from other decentralized exchanges with excellent usability, rich functionality, a large section of training guides, no minimum deposit, low trading fees, etc.

Bibox offers several investment options and advanced features such as automated bots, copy trading, and decentralized management, making it one of the leading platforms with advanced trading mechanisms and simple platform functionality.

As a cryptocurrency trader, you were undoubtedly faced with the dilemma of choosing an exchange to suit your investment needs among a staggering number of trading platforms in the cryptocurrency market.

CoinStats regularly reviews leading platforms like Binance, Coinbase, or Kraken, relatively small but reliable crypto exchanges like the Bibox exchange, and a relatively new derivatives exchange like BTSE and presents their advantages and drawbacks to help you pick the right trading platform for buying, selling, and trading digital assets.

BTSE is a derivatives exchange that offers a rich suite of digital assets, spot and derivatives trading, NFT and exchange white labels, over-the-counter (OTC) trading, and a viable fiat to cryptocurrency conversion.

Our BTSE review will discuss the platform’s services and features, advantages and disadvantages, trading fees, security, etc., and demonstrate how to start trading on the platform to maximize profits.

What Is BTSE Exchange?

BTSE exchange is a relatively new platform registered in the British Virgin Islands. It has been active since September 2018. The platform is a licensed entity formed by two registered companies, BTSE Commercial Brokers LLC (814684) and BTSE Payment Service Providers LLC (814678). Based in Dubai, BTSE is licensed by the Department of Economic Development, Government of Dubai, and operates under regulations set by the Central Bank of the United Arab Emirates.

The BTSE team comprises Jonathan Leong, co-founder / Chief Executive Officer; Brian Wong, co-founder / Chief Product Officer; Yew Chong Quack, Chief Technical Officer; and Joshua Soh, Chief Operating Officer.

BTSE stands for Bitcoin Trading and Securities Exchange and is described as a multi-currency digital assets exchange and derivatives platform that innovates and delivers a one-stop solution bridging the gap between traditional fiat markets and the crypto world.
The BTSE exchange offers spot and futures markets and a viable fiat to cryptocurrency conversion. It supports nine different fiat currencies and fiat/crypto pairs, including not only standard trading pairs for the US dollar and Euro but also the Japanese Yen, Swiss Frank, Hong Kong dollar, etc. The platform supports advanced trading options like spot trading, leveraged trading, the perpetual contract option, OTC trading, etc., and multi-asset collateral and settlement for derivatives trading.

Additionally, BTSE offers an all-in-one order book for deep liquidity, credit card top-ups for quick account funding, low conversion fees, and up to 12.5% APY for USDT deposits.

BTSE is the first exchange to offer Web3 wallet support for both MetaMask and Phantom wallet extensions enabling users to make easy deposits and withdrawals of Ethereum and Solana.

The platform offers lucrative incentives like deposit bonuses and referral programs, and the Testnet trading platform that enables novices to test the exchange’s features using fake money.

BTSE exchange currently generates over $1.5 billion in daily trading volume on BTC and ETH futures. The trading platform securely stores over 99% of customers’ funds in cold wallets.

The exchange was rated 7/10 on the CoinGecko security scale and ranked 56 safety-wise out of 518 exchanges.

How to Start Trading?

Trading on the BTSE platform is relatively intuitive and straightforward. Follow this quick tutorial to begin trading right away:

Step #1: Registration

The BTSE exchange requires platform users to provide a valid email address or a mobile number and create a solid password to create a BTSE account. After submitting the form, check your email inbox for the registration confirmation and click the verification link.

Users wishing to upgrade their account and benefit from several advantages such as lower fees and larger withdrawal limits must undergo the Know Your Customer (KYC) procedure and verify their identity through ID confirmation and proof of residential address via a utility bill, credit card bill, bank statement, or mobile phone bill issued within the last 3 months.

Users wishing to trade fiat currencies must also perform identity verification.

Note: If you have a referrer, click “Referral Code” and fill it in.

Step #2: Deposit Funds

To start trading, users must deposit funds, like on any other trading platform. The BTSE exchange supports a wide range of deposit options, including:

Crypto Deposits

Users with experience in crypto trading can link their existing crypto wallets to the BTSE exchange and deposit their digital currency to begin trading.

Fiat Currency Deposits

You can also deposit fiat currency into your account through a wire transfer, a credit/debit card, etc.

NOTE: The BTSE platform requires ID verification for credit card deposits and additional proof of address for bank transfers and fiat withdrawals.

Step #3: Start Trading

To buy or sell digital currencies, you must go to TRADING and select the digital currency. Then you must choose the Buy/Sell method under “MARKET / LIMIT / INDEX.”

NOTE: BTSE exchange provides a user-friendly TradingView for monitoring price movements.

TIP: If you don’t find the token you need within the fiat pairs, check if it has an available pair with Bitcoin.

Spot Trading

• Click on “Spot” under “Trade” on the top navigation bar
• Search and enter the pair you want to trade
• Select Buy or Sell and choose your Order type
• Set buying/selling prices and buying/selling amount (or exchange total). Then click on “Buy Order”/”Sell Order” to submit your order
• View your order in “Open Orders” at the bottom of the page.

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Trading Options

BTSE exchange offers several trading options to cryptocurrency traders, including:

Spot Trading

The BTSE exchange spot trading feature offers 11 markets, 5 are standard trading pairs, and the other 6 are indexes. Since an index represents the performance of a group of digital assets, you’ll not be buying any actual underlying asset but rather the average performance of the group of assets.

Pairs like BTC/USD, USDT/USD, and ETH/USD are included in the standard offer, while BTC, ETH, LTC, and XMR are in the index offer, along with the BTSE 5 and BNC-BTSE (BBCX) composite indexes.

Here are the spot trading limits sizes:

• BTC: min 0.002 – max 2000
• USDT: min 10 – max 100,000
• ETH: min 0.05 – max 5000
• LTC: min 0.05 – max 5000
• XMR: min 0.05 – max 1000
• BTSE token: min 1 – max 25.

BTSE Futures Exchange

BTSE offers an extensive futures exchange, with over 20 futures contracts, such as BTC, ETH, LTC,  XMR, USDT, and BBCX.

Futures contracts also have an expiration range, and some offer a perpetual contract option, meaning a contract with no expiration date.

Following the industry standard, some futures can be traded up to 100x leverage, or a 1% initial margin, which brings us to the next order of business.

Leveraged Trading

Leveraged trading on the BTSE futures exchange can go up to 100x on some trading pairs, i.e., you need a margin of only 1% to make 100x larger orders.

NOTE: Margin trading is extremely risky. User funds can be lost if the trader bets on the wrong outcome. However, it can also grant massive returns if the bet is right, making it a high-risk/high-reward trading method.

OTC Trading

BTSE operates a 24/7 OTC (Over The Counter) desk at no additional cost. OTC trading enables prominent players in the crypto community to sell or purchase large amounts of digital currency, which is impossible on a regular trading platform because the crypto market value is affected by large trades.

Furthermore, the order book might be too thin to execute the relevant trade.

Trading Fees

BTSE Exchange uses different fee structures for its spot and futures trading platforms. For spot trading, BTSE uses the maker/taker fee model, which charges takers more than market makers. For accounts trading <100 BTC per month, maker fees are 0.05%, while taker fees are 0.1%. Moreover, the platform determines the account VIP level based on a one-month rolling window of trading volume, which is recalculated daily. Higher volume accounts benefit from a trading fee reduction of up to 80% on maker fees and 70% on taker fees.

Specific trading conditions are set according to a user’s trading volume (calculated in Bitcoin) and VIP level.

Trading volume in another currency is converted into Bitcoin-equivalent volume using the spot exchange rate.

It also offers a direct conversion tool between USDC, TUSD, and USD, charging just 0.3% to convert these stablecoins to fiat.

BTSE exchange doesn’t charge deposit fees.

Deposits and Withdrawals

BTSE platform enables you to make a deposit via SWIFT remittance. You get your transaction number and bank information under “Login” > “WALLETS” and can view all SWIFT remittance fee types on the platform’s site.

To withdraw fiat currency, go to SWIFT Remittance Log-in and “WALLETS,” and click on “Withdraw” under the fiat currency field. Enter the amount you want to withdraw and choose the bank account to which you want your currency to be withdrawn.

Similarly, to withdraw digital currencies, simply click “Withdraw” under the digital currency window, enter the amount, and choose the account you want your currency to be withdrawn to.

The BTSE withdrawal fees vary depending on the withdrawal currency and typically stand at the industry average. The minimum withdrawal amount also differs depending on the token.

For example, the Tether USD coin minimum withdrawal amount stands at 10 USDT, and its withdrawal fee is 5 USDT, with no minimum deposit or deposit fee.

Bitcoin traders, on the other hand, get different terms. The minimum withdrawal for BTC is 0.002 (equivalent to approximately $40 at the current rate), and the deposit fee is 0.0005 BTC (roughly $10).

NOTE: The crypto market is volatile, and the fees listed in digital currency have no solid dollar equivalent and are subject to change due to that volatility.

The deposit and withdrawal conditions are different for crypto traders wishing to withdraw in fiat. For example, the minimum withdrawal and deposit amounts for USD are $1,000, and the fee is 0.1% off the relevant trade. No deposit fee is charged. Fiat currency deposits may be charged a bank fee, payable to the bank, not to BTSE.

BTSE Token

The BTSE token is the exchange’s native token powers the BTSE ecosystem. It grants holders extra advantages and serves as the exchange’s base currency. The BTSE token is the first exchange token built on Liquid, a Bitcoin sidechain-based settlement network for traders and exchanges. The BTSE token reduces holders’ trading fees and is used as a payment method for buying BTSE exchange products and services. Additionally, the BTSE token allows users to save 60% on exchange fees.

Customer Support

Regarding cryptocurrency exchange assessment, customer support is an essential factor to consider. BTSE reviews often include the exchange’s poor customer service in their list of disadvantages. Moreover, some customers report it to be slow and unhelpful. The platform has no live chat, social media channels, or phone support to enable users to contact BTSE instantly and solve their problems without wasting time.

BTSE exchange provides a support desk with a help chatbot designed to answer only general concerns about using the platform.

To contact BTSE customer support, you must use the internal ticket system only. You’ll get a reply after several hours according to your query, which might not solve your problems.

Frequently Asked Questions

Is BTSE Exchange Available In the US?

While there is no direct restriction from the BTSE exchange, US customers might go against the Securities Exchange Commission (SEC) regulations while using the platform. Some other global restrictions include Belarus, Cuba, North Korea, Syria, Iran, Venezuela, Libya, Russia, and Yemen.

Is BTSE Exchange Safe?

BTSE hosts its own exchange and doesn’t rely on lax third-party security, which can lead to data breaches. It uses Google’s two-factor authentication system, preventing unauthorized people from accessing users’ accounts. 

BTSE Exchange claims user funds are stored in cold storage, accessible only via multiple keys. The exchange has been praised for bringing institutional-grade security to everyday investors.

Is BTSE Exchange Decentralized?

BTSE exchange is a Decentralized Finance (DeFi) platform that supports trading in fiat currencies and digital assets.

Conclusion

The BTSE crypto exchange is an all-in-one platform with top-notch security and a wide range of digital assets, trading pairs, and deposit methods. It offers high flexibility and liquidity to its traders. The exchange is beginner-friendly, enabling novices to quickly and efficiently buy, sell, convert, or invest on the platform. The BTSE platform also provides advanced trading features to experienced traders, including traditional spot markets and leveraged trading.

The introduction of a separate educational platform, the BTSE academy, has already gained massive popularity amongst cryptocurrency traders.

BTSE also provides some unique features compared to its competitors, such as access to verified merchants and the possibility of becoming verified merchants.  

We hope our BTSE exchange review has been helpful for your crypto trading!

It should, however, be kept in mind that cryptocurrencies are volatile, and nothing in this article is a piece of financial advice. 

PancakeSwap is a decentralized exchange that operates on the Binance Smart Chain, providing users with a fast, low-cost, and user-friendly platform for trading cryptocurrencies. In this article, we’ll be diving into some of the key aspects of PancakeSwap, including its safety measures, transaction fees, and investment potential.

Whether you’re a seasoned trader or new to the world of cryptocurrency, this article will provide valuable insights into what PancakeSwap is all about and whether it’s a platform worth considering. So let’s get started and explore what PancakeSwap has to offer.

What Is PancakeSwap?

PancakeSwap is a decentralized exchange that allows users to trade cryptocurrencies on the Binance Smart Chain. It works by utilizing liquidity pools, which are essentially collections of tokens that are locked into smart contracts. Users can trade tokens by swapping them in and out of these pools, with the value of the tokens being determined by a mathematical algorithm.

One of the key benefits of PancakeSwap is its user-friendly interface, which makes it easy for both novice and experienced traders to use. Additionally, transaction fees on PancakeSwap are generally lower than on other decentralized exchanges, thanks in part to the Binance Smart Chain’s fast and low-cost infrastructure.

In addition to trading, PancakeSwap also offers liquidity providers the ability to earn rewards through yield farming. Yield farming involves depositing tokens into liquidity pools and earning rewards in the form of additional tokens or transaction fees. This can be a lucrative way to earn passive income in the world of cryptocurrency, although it does come with some risks that investors should be aware of.

Overall, PancakeSwap offers a simple, low-cost, and user-friendly way to trade cryptocurrencies on the Binance Smart Chain, with the added potential for yield farming rewards.

PancakeSwap Fees

While PancakeSwap is known for its low transaction fees, there are still some costs associated with using the platform. When making a trade on PancakeSwap, users will be charged a trading fee of 0.25% of the transaction amount. Additionally, there are gas fees that must be paid in order to execute transactions on the Binance Smart Chain.

Compared to other decentralized exchanges, PancakeSwap’s fees are generally lower, especially when compared to Ethereum-based platforms. This is because the Binance Smart Chain has been designed to provide fast and low-cost transactions, making it an attractive option for traders who want to minimize fees.

To minimize fees when using PancakeSwap, there are several tips that traders can follow. One is to use limit orders instead of market orders, as this can help reduce the likelihood of slippage and minimize trading fees. Another tip is to avoid trading during times of high network congestion, as this can cause gas fees to spike.

Overall, while there are still fees associated with using PancakeSwap, they are generally lower than those of other decentralized exchanges, making it an attractive option for cost-conscious traders. By following some basic tips and strategies, traders can further minimize their fees when using the platform.

Is PancakeSwap a Safe Platform?

When it comes to trading cryptocurrencies, safety and security are of paramount importance. Fortunately, PancakeSwap has taken several measures to ensure that its platform is as safe and secure as possible. One of the key steps it has taken is to undergo regular audits by third-party security firms, which help to identify and address any vulnerabilities or potential security issues.

In addition to audits, PancakeSwap also operates a bug bounty program, which rewards users who identify and report any security vulnerabilities on the platform. This incentivizes users to help improve the platform’s security by identifying any weaknesses that could be exploited by malicious actors.

While PancakeSwap has generally been a safe platform, there have been some notable security incidents and vulnerabilities in the past. For example, in June 2021, PancakeSwap was the victim of a phishing attack that affected some users. However, the platform was quick to respond and take measures to mitigate the impact of the attack.

To stay safe when using PancakeSwap, there are several tips that traders can follow. These include using strong passwords and two-factor authentication, being cautious of phishing scams, and avoiding sharing personal information or private keys with others.

Overall, while no platform can guarantee 100% security, PancakeSwap has taken several measures to ensure that its platform is as safe and secure as possible. By following some basic security practices, users can help to minimize their risk and trade cryptocurrencies with confidence.

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Is PancakeSwap a Good Investment?

As with any investment, there are both potential benefits and risks associated with investing in PancakeSwap. One of the key benefits of investing in PancakeSwap is the potential for high returns. As a decentralized exchange, PancakeSwap allows users to earn rewards by providing liquidity to its various liquidity pools. Additionally, PancakeSwap’s native token, CAKE, has seen significant price increases in the past, which has led to substantial profits for early investors.

However, there are also risks associated with investing in PancakeSwap. One of the biggest risks is the volatility of cryptocurrency prices. Cryptocurrencies, including CAKE, are known for their high volatility, which can lead to significant price fluctuations and potential losses for investors. Additionally, there is always the risk of technical issues or security vulnerabilities that could impact the value of CAKE or the overall performance of the platform.

Despite these risks, many investors see PancakeSwap as a promising long-term investment. CAKE has shown strong growth potential in the past, and the platform’s popularity continues to grow as more users become interested in decentralized finance. Additionally, PancakeSwap has outperformed many other decentralized exchanges in terms of trading volume and liquidity, which suggests that it has a strong market position.

Overall, while investing in PancakeSwap does come with some risks, many investors see it as a promising long-term investment. By carefully considering the potential risks and benefits and staying up-to-date on market trends and performance, investors can make informed decisions about whether or not to invest in PancakeSwap.

PancakeSwap Key Features

PancakeSwap offers the following key features to its users:

• CAKE, PancakeSwap’s native token, is a BEP20 token built on BSC.
• Faster transactions and lower fees than other Ethereum-based Decentralised Finance (DeFi) platforms.
• It’s an Automated Market Maker, similar to ERC20-based platforms such as SushiSwap and Uniswap.
• It enables users to trade digital assets against a variety of liquidity pools while also collecting yields.
• It allows users to lend their digital assets to liquidity pools in exchange for liquidity tokens, which they can stake to gain even more digital assets.
• It lets users trade other BEP20 tokens in addition to using cryptocurrencies to add liquidity to exchange pools, enabling them to earn extra tokens.
• With CAKE, users can earn more tokens or other tokens based on the BSC, like DODO, UST, or LUNA, by using the native token in SYRUP liquidity pools.
• “Know Your Client” (KYC) and/or Anti-Money Laundering (AML) aren’t required.
• CertiK has audited and verified PancakeSwap to ensure its legitimacy and security.
• It features a 40 CAKE reward per block; however, 15 CAKE is burnt, making the effective value substantially lower.

Binance Bridge

To trade ERC-20 tokens on PancakeSwap, you must first wrap them on the Binance Bridge and convert them into BEP-20 assets. On the Binance Bridge, connect your digital wallet. The transaction must then be verified on the Ethereum network for some Ether known as gas fees.

While the high Ethereum gas fees may make this expensive, once you’ve wrapped and bridged your crypto assets to BSC, PancakeSwap’s low fees will save you a lot of trading expenses. After you’ve finished your transactions on PancakeSwap, just use Binance Bridge to transfer your BEP-20 assets back to ERC-20. As a result, you can use BSC to buy tokens like ApeCoin using this bridge.

PancakeSwap Exchange: Products and Services 

PancakeSwap has been holding on to the status of “largest DEX on the BSC chain” for so long because of its capacity to offer a wide range of financial products and services through a single interface. Most of this is feasible due to the hard work of its development team behind the scenes. PancakeSwap has extended its services from basic token swaps to an on-chain derivatives market in less than two years. 

The following is a list of its current services:

• Spot Trading
• Perpetual Futures Trading
• Yield Farming
• IFO – Initial Farm Offering
• Prediction Market
• Lottery
• Syrup Pools (Staking)
• NFTs

PancakeSwap Spot Trading

Spot trading on PancakeSwap is carried out by swapping assets in a liquidity pool via an automated market maker (AMM). AMM swaps are often done live, with the price defined by the ratio of assets in the pool; users have no decisive influence over the price at which they buy or sell assets.

PancakeSwap offers a solution to this problem by allowing users to pre-set orders using the limit order function on its interface. Unlike centralized exchanges, this does not imply matching one order against another. Instead, once the pre-set price objective is met, the AMM executes a swap on its liquidity pool.

However, remember that PancakeSwap doesn’t accept limit orders for tokens with a fee/tax on the ‘transfer’ of tokens. Open limit orders will stay open forever unless they are executed or canceled by users. Soon, a customizable expiration date functionality is planned.

Furthermore, as PancakeSwap is based on the BSC network, transaction speeds are substantially faster and less expensive than on Ethereum. When completing swaps on PancakeSwap, ensure to use the V2 swap, as the previous version (V1) is more prone to slippage, which results in financial loss.

PancakeSwap Yield Farming

Users can farm rewards in the form of CAKE tokens by supplying liquidity to PancakeSwap’s Liquidity Pools. PancakeSwap features several yield farms, which require you to stake two tokens to obtain the LP tokens associated with the specific farm. Each farm on PancakeSwap has its own yield rate and multiplier, so before supplying liquidity, ensure to know which farm you want to profit from. For example, the CAKE-BNB farm has a 40x multiplier, which means it earns 40 CAKE for every block produced.

PancakeSwap Syrup Pools (Staking)

Syrup Pools let users stake CAKE and gain rewards in the form of CAKE or other tokens. The CAKE Syrup Pool, for instance, allows users to choose between flexible and locked staking. The locked staking option offers a high APY but requires users to lock their tokens for a predetermined period. The flexible staking option provides a lower APY but lets users withdraw their tokens anytime.

PancakeSwap Prediction Market

PancakeSwap’s prediction market lets users earn tokens by correctly predicting the price movement of BNB-USD or CAKE-USD pairs. Users can bet on whether the price of BNB or CAKE will rise or fall in the next five minutes.

Results will be calculated, and rewards will be distributed based on the closing price at the end of the round.

PancakeSwap Lottery

Users can purchase lottery tickets for the PancakeSwap Lottery, and each ticket has a unique 6-digit combination. A random six-digit combination is generated at the end of each lottery session, which lasts between 12 – 36 hours.

Users must have tickets that match the winning combination from left to right to win. The closer your number is to the winning combination, the higher your payout.

PancakeSwap’s Perpetual Futures Trading

PancakeSwap has collaborated with ApolloX Finance to allow customers to trade perpetual futures contracts using its interface. The trading infrastructure is built with off-chain order-book matching and on-chain settlement, allowing for critical trading features such as different order types (such as limit orders, stop orders, and post-only orders) while preserving privacy and security of a DEX. I.e., it doesn’t require KYC or use intermediaries when engaging with smart contracts.

PancakeSwap Initial Farm Offerings (IFO)

Initial Farm Offering, or IFO, is a novel Initial Coin Offering (ICO) concept introduced by PancakeSwap. Users must create a “profile” on PancakeSwap to participate in an IFO. Users can then commit CAKE tokens to the IFO pool to buy the token. The number of iCAKE a user owns determines the amount of CAKE a user can commit. iCAKE is a numerical metric used to calculate the quantity of CAKE staked in the fixed-term CAKE staking pool as well as the overall staking duration of your current fixed-term staking position.

PancakeSwap’s NFTs and NFT Marketplace

PancakeSwap is staying ahead of the competition by launching its own NFT collections and allowing users to create personalized profiles on the exchange by linking them to an NFT. PancakeSwap also has its own NFT marketplace for trading white-listed NFT collections.

NFTs can be won through team trading games, where traders compete to see who has the greatest trading volume in a period, or via PancakeSwap airdrop events.

PancakeSwap Farming and Staking

PancakeSwap Liquidity pools are funded with users’ deposits, and in exchange for their contributions, users get Liquidity Provider (LP) tokens, also known as FLIP tokens. These LP tokens can be used to reclaim their share and a percentage of the trading fees.

PancakeSwap also allows users to farm CAKE and SYRUP tokens. Users can deposit their LP tokens on the farm to get rewarded with CAKE. CAKE tokens can then be staked to get SYRUP, which has extra utility as a governance token and can be used as tickets in different lotteries.

CAKE holders are given a fixed quantity of CAKE for each built block, and users can stake them to earn incentives. CAKE is distributed as BEP20 tokens to those offering liquidity to the network, and users may earn 170 percent APY by staking CAKE in the pool. Users need a Metamask wallet or a Binance Chain Wallet with both CAKE and (Binance Coin or BNB) to pay for gas on the exchange to stake CAKE.

Users can begin staking by following these steps:

• Go to the PancakeSwap website under “Finance” and click the “Connect” button in the upper righthand corner of the homepage.
• Users can choose “Connect” or “Binance Chain Wallet,” which will open the wallet.
• The user can choose “Pools” from the left-hand menu to see a list of active pools ready to accept a stake, such as the CAKE Pool.
• After identifying the pool, the user can click “Approve CAKE,” which will access the user’s wallet.
• The user can then click “Confirm” and wait for the transaction to be confirmed on the blockchain, which takes around 3 seconds.
• The pool’s format has changed, and the user can now select the “+” option on the CAKE Pool. Users may now input the amount they want to stake and click “Confirm.”
• The user’s wallet will appear, allowing them to verify the transaction details before clicking “Confirm,” which will take a few seconds to approve on the blockchain.
• Once completed, the user’s stake and CAKE balance will be updated. From here, the user may “Harvest” to claim their CAKE rewards or “Compound” to reinvest them by choosing the corresponding option offered.

PancakeSwap Deposits and Withdrawals

PancakeSwap platform exclusively accepts deposits and withdrawals from users who want to utilize PancakeSwap’s perpetual futures trading product. By depositing funds, you are granting the protocol permission to use your funds as collateral for any margin transactions you do. This collateral will be liquidated if you do not repay or close positions before certain critical price levels.

Currently, deposits are only accepted in USDT, BUSD, APX, or CAKE. To withdraw deposited funds, close any open trades and click the withdraw option under the assets tab.

PancakeSwap Supported Wallets

Users of PancakeSwap have a variety of wallet options to select from, including MetaMask, MathWallet, WalletConnect, TokenPocket, and Trust Wallet. MetaMask is an ERC-20 wallet that can also be configured to hold BEP-20 assets.

You can also choose from several other wallets in the crypto market that you can connect to PancakeSwap.

PancakeSwap Security

PancakeSwap is an open-source project that has undergone many security assessments by Certik, Peckshield, and SlowMist. The official documentation lists a total of 9 security audits.

PancakeSwap also follows standard practices in security by employing multi-signature for all contracts and setting a time-lock option for them. Furthermore, for maximum transparency, the majority of PancakeSwap’s code is publicly available, and all of their contracts are checked on BscScan.

Conclusion

In summary, PancakeSwap is a decentralized exchange running on the Binance Smart Chain. It offers a user-friendly interface, low transaction fees, and a variety of liquidity pools for users to earn rewards through yield farming. While there are risks associated with investing in PancakeSwap, including cryptocurrency price volatility and potential technical issues, many investors see it as a promising long-term investment due to the strong growth potential of its native token, CAKE, and the platform’s market position.

When it comes to safety, PancakeSwap has taken measures such as audits and bug bounties to ensure the platform’s security. By following best practices for staying safe when using PancakeSwap and minimizing fees, users can make the most of this decentralized exchange.

Overall, we encourage readers to try PancakeSwap for themselves and to stay informed about developments in the decentralized exchange space. With its user-friendly interface, low fees, and potential for high returns, PancakeSwap is a promising platform for anyone interested in decentralized finance.

Disclaimer: All information provided in or through the CoinStats Website is for informational and educational purposes only. It does not constitute a recommendation to enter into a particular transaction or investment strategy and should not be relied upon in making an investment decision. Any investment decision made by you is entirely at your own risk. In no event shall CoinStats be liable for any incurred losses. See our Disclaimer and Editorial Guidelines to learn more.

Kyber Network is a multi-chain crypto trading and liquidity hub that connects liquidity from different sources to enable trades at the best rates. As a decentralized protocol, Kyber Network facilitates cryptocurrency exchanges without KYC or a middleman and enables on-chain transactions that are entirely transparent and verifiable.

KyberSwap, the network’s flagship product, is a next-gen DEX aggregator that enables users to swap, earn, and seamlessly participate in DeFi on each of the 13 supported chains. As a DEX aggregator, KyberSwap sources liquidity not only from its own pools but also from over 70 DEXs across its supported networks and is equipped with yield optimization protocols to ensure the best rates and returns. 

This Kyber Network review will look into the Kyber Network, its services, products, trading fees, etc., and assess the KNC tokens’ long-term adoption potential and use cases.

Let’s get right to it!

What Is Kyber Network

Kyber Network’s goal is to make Decentralized Finance accessible, cheap, fast, and secure for all users.

A pioneer in the DeFi space, Kyber Network launched in 2017 under Vitalik Buterin’s mentorship with a successful ICO raising $52 million. Kyber Network has evolved to a project committed to making DeFi easy and accessible for all – including KyberSwap, the most advanced DEX & Aggregator in DeFi, KyberDAO, the governance community at the forefront of DeFi, and Kyber Ventures, Kyber’s investment arm supporting Web3 founders to build the future of decentralized technologies.

Over the past 5 years, Kyber Network has been driven by innovation and dedication to become one of the top DEXs in the DeFi space. Their core product, KyberSwap, is a next-gen DEX aggregator providing the best rates for traders and maximizing returns for liquidity providers in DeFi.

As a decentralized exchange, KyberSwap connects traders to liquidity pools rather than an order book. The protocol’s smart contracts provide liquidity and enable users to complete transactions without intermediaries.

Currently deployed on 13 chains, including Ethereum, Polygon, BNB, Avalanche, Fantom, Cronos, Arbitrum, BitTorrent, Velas, Aurora, Oasis, and Optimism, KyberSwap aggregates liquidity from over 70 DEXs to give users the best rates possible for their swaps.

For liquidity providers, KyberSwap has a suite of capital-efficient protocols designed to optimize rewards. KyberSwap Classic’s Dynamic Market Maker protocol (DMM) is DeFi’s first market maker protocol that dynamically adjusts LP fees based on market conditions, while KyberSwap Elastic is a tick-based AMM with industry-leading liquidity protocols and concentrated liquidity, customizable fee tiers, reinvestment curve and other advanced features specially designed to give LPs the flexibility and tools to take earning strategies to the next level without compromising on security. Liquidity providers can add liquidity to KyberSwap pools and earn fees and incentive rewards.

To date, KyberSwap powers 100+ integrated projects and has facilitated over US $11 billion in transactions for thousands of users since its inception. 

Despite its similarities with other exchanges, Kyber provides a unique platform to users enabling them to easily trade one token for another through a liquidity pool by combining several cryptocurrencies.

What Makes KyberSwap Unique

The introduction of decentralized exchanges bridged shortcomings in centralized systems’ operations, such as increased expenses and taxes, sluggish transaction rates, indiscriminate wallet locking, increased exposure to insecurity, etc.

However, decentralized exchanges also have vulnerabilities, including significant expenses for trade modifications in order books and lack of liquidity, a key component in the DeFi ecosystem. Kyber Network Crystal introduces the KNC and develops liquidity pools by collecting liquidity from various digital tokens.

The Network makes the liquidity pools always available to investors. As a result, investors who don’t have booking orders can trade directly from their wallets. However, traders will maintain custody of their tokens throughout the process. 

KyberSwap facilitates swapping cryptocurrencies at the lowest possible cost for each protocol transaction.

Kyber Network is also compatible with other protocols and is called a developer-friendly project by the crypto community. The protocol that wishes to connect with KNC must operate on a blockchain-powered by smart contracts.

Several companies, DApps, and wallets have already integrated the Kyber platform into their projects or businesses, such as InstaDApp,  MetaMask, SetProtocol, bZx, AAVE, Coinbase, etc. According to the Kyber Network website, the project has already received over 100 integrations.

Kyber Network Features

The Kyber Network is not just a decentralized cryptocurrency exchange but also a digital asset transfer platform. It facilitates the exchange process by allowing users to transmit tokens and receive any token they choose. Let’s have a closer look at its features.

KyberSwap

The KyberSwap mechanism enables the instant swapping of cryptocurrencies without using order books, deposits, or wrapping. The exchange constantly routes queries via numerous centralized exchanges and liquidity pools to get the best price. Clients can optimize their swaps for either the lowest gas prices or the highest returns. Variable slippage tolerance and critical pre-trade information such as minimum returns and predicted USD value are also available.

Kyber Developer

This developer-friendly mechanism provides developers with the tools and documentation to integrate new apps, wallets, exchanges, and platform enhancements into the DeFi ecosystem.

Kyber Network Fees

KyberSwap Fees

Unlike some DEXs, KyberSwap does not charge any aggregator, management, or platform fees. Liquidity providers earn 90% of their fees, while the remaining 10% goes to the KyberDAO for governance rewards. These rewards are paid out in KNC and are distributed to KNC holders who stake and vote on governance proposals based on the proportion of their stake.

Kyber Network doesn’t charge any withdrawal fees, which makes it a highly competitive offering. However, it should be noted that there are also exchanges that pay the network fees for the traders’ advantage, i.e., their withdrawal fees are 0. On the other hand, the network fees are rather insubstantial; therefore, charging the network fees solely is also a trader-friendly fee arrangement.

Buying & Storing KNC

You can buy KNC tokens through various cryptocurrency exchanges, such as Coinbase, Binance, etc. The former is headquartered in the United States, while the latter is an offshore exchange. There’s a spread in the trading volume of the digital asset at these exchanges, which indicates that KNC’s liquidity has no dependence and concentration on a single exchange. Moreover, every exchange book gives you high liquidity. For example, the Binance BTC/KNC books are diverse and have a high turnover resulting in faster order execution.

KNC is an ERC20 token that can be stored in any Ethereum-compatible wallet, including MyEtherWallet, MetaMask, and CoinStats Wallet.

KyberSwap Team

The team has an experienced and skilled advisory board comprising Vitalik Buterin, the Ethereum founder.

The protocol’s testnet became operational in August 2017. The Network’s initial coin offering (ICO) raised $60 million, the equivalent of 200,000 ETH, in September 2017.

The mainnet was launched in February 2018 and was only accessible to whitelisted users. In March 2018, the KyberSwap platform launched the mainnet as a public beta. The network volume increased by over 500% by the end of the second quarter of 2019.

Kyber Network (KNC) Token

KNC is the Kyber Network’s native token, released in 2017. The KNC price during the Initial Coin Offering (ICO) was $1 per token. Only 61% of the 226 million KNC raised for the ICO were sold, and the remaining share was split 50/50 between the founders/advisors and the company. The lockup term for this control is one year, while the vesting period is two years.

At the time of writing, the total supply of KNC was 223 million, with over 102 million tokens in circulation and a market capitalization of $116.5 million, as per the data available on CoinStats.

The token effectively supports the Network by connecting liquidity seekers and liquidity providers.

KNC is also the Kyber Networkecosystem’s governance token. Token holders can stake KNC tokens on KyberDAO to vote on platform updates, boost their value, and improve adoption rates. This will also increase the project’s functionality and value. The tokens are staked in cycles called “epochs,” which are measured in Ethereum block timings and have a time span of two weeks. Holders are entitled to a portion of the fees generated by the protocol’s liquidity pools.

KNC is also a deflationary token, i.e., a percentage of the token generated by fees is burned to decrease the cryptocurrency’s total supply. Deflation has a beneficial effect on the asset’s economic flow.

Note: Currently, the KNC supply is fixed until the KyberDAO votes to burn or mint more.

The protocol burned its first 1 million KNCs in May 2019 and the second 1 million KNCs in August 2019. While the first burning occurred 15 months after the launch, the second one was only after three months following the first, demonstrating the protocol’s rapid growth and acceptance.

Frequently Asked Questions

What Is the Kyber Network Crystal Token

KNC has several applications as the blockchain’s native token, such as staking for passive income rewards, platform governance, etc.

Is the Kyber Network Safe

As Kyber Network is a non-custodial, decentralized exchange, users need to link their wallets to begin trading while preserving anonymity and complete control of their crypto assets.

Kyber Network’s codebase has been audited by top audit firms Chainanalysis and Hacken and is available for public record.

Conclusion

Kyber Network aims to become a leader in the DeFi community for facilitating reserve liquidity through its functionality and operations. It offers liquidity by aggregating liquidity from several sources and is powered purely by code, a distributed network of software users, and the Ethereum blockchain. 

To reach its goal, the Kyber Network provides a protocol for decentralized exchange, an application programming interface (API) for token swaps, and the KNC cryptocurrency. The Network’s growth trajectory is strong, notably through quick token trades.

The protocol will increase trading volume, and KNC token demand as the Network’s utility in DeFi grows.

We hope our Kyber Network review has been helpful for your crypto trading!

You’re also welcome to visit our CoinStats blog to discover a broader perspective on decentralized finance and how it seeks to empower people. 

You can also read our articles, such as What Is DeFi, and explore our in-depth guides on various topics, such as What Is PanCakeSwap, What Is SushiSwap, Top 10 Metaverse NFT Projects, Best NFT Games, How to Buy Cryptocurrency and learn more about wallets and exchanges, portfolio trackers, etc.

Investment Advice Disclaimer:  The information contained on this website is provided to you solely for informational purposes and does not constitute a recommendation by CoinStats to buy, sell, or hold any securities, financial product, or instrument mentioned in the content, nor does it constitute investment advice, financial advice, trading advice, or any other type of advice.

As a cryptocurrency trader, you were undoubtedly faced with the dilemma of choosing an exchange to suit your investment needs among a staggering number of trading platforms in the cryptocurrency market.

CoinStats regularly reviews leading platforms like Binance, Coinbase, or Kraken, relatively small but reliable crypto exchanges like the Bibox exchange, and a relatively new derivatives exchange like BTSE and presents their advantages and drawbacks to help you pick the right trading platform for buying, selling, and trading digital assets.

BTSE is a derivatives exchange that offers a rich suite of digital assets, spot and derivatives trading, NFT and exchange white labels, over-the-counter (OTC) trading, and a viable fiat to cryptocurrency conversion.

Our BTSE review will discuss the platform’s services and features, advantages and disadvantages, trading fees, security, etc., and demonstrate how to start trading on the platform to maximize profits.

Let’s get right to it!

What Is BTSE Exchange

BTSE exchange is a relatively new platform registered in the British Virgin Islands. It has been active since September 2018. The platform is a licensed entity formed by two registered companies, BTSE Commercial Brokers LLC (814684) and BTSE Payment Service Providers LLC (814678). Based in Dubai, BTSE is licensed by the Department of Economic Development, Government of Dubai, and operates under regulations set by the Central Bank of the United Arab Emirates.

The BTSE team comprises Jonathan Leong, co-founder / Chief Executive Officer; Brian Wong, co-founder / Chief Product Officer; Yew Chong Quack, Chief Technical Officer; and Joshua Soh, Chief Operating Officer.

BTSE stands for Bitcoin Trading and Securities Exchange and is described as a multi-currency digital assets exchange and derivatives platform that innovates and delivers a one-stop solution bridging the gap between traditional fiat markets and the crypto world.
The BTSE exchange offers spot and futures markets and a viable fiat to cryptocurrency conversion. It supports nine different fiat currencies and fiat/crypto pairs, including not only standard trading pairs for the US dollar and Euro but also the Japanese Yen, Swiss Frank, Hong Kong dollar, etc. The platform supports advanced trading options like spot trading, leveraged trading, the perpetual contract option, OTC trading, etc., and multi-asset collateral and settlement for derivatives trading.

Additionally, BTSE offers an all-in-one order book for deep liquidity, credit card top-ups for quick account funding, low conversion fees, and up to 12.5% APY for USDT deposits.

BTSE is the first exchange to offer Web3 wallet support for both MetaMask and Phantom wallet extensions enabling users to make easy deposits and withdrawals of Ethereum and Solana.

The platform offers lucrative incentives like deposit bonuses and referral programs, and the Testnet trading platform that enables novices to test the exchange’s features using fake money.

BTSE exchange currently generates over $1.5 billion in daily trading volume on BTC and ETH futures. The trading platform securely stores over 99% of customers’ funds in cold wallets.

The exchange was rated 7/10 on the CoinGecko security scale and ranked 56 safety-wise out of 518 exchanges.

How to Start Trading

Trading on the BTSE platform is relatively intuitive and straightforward. Follow this quick tutorial to begin trading right away:

Step #1: Registration

The BTSE exchange requires platform users to provide a valid email address or a mobile number and create a solid password to create a BTSE account. After submitting the form, check your email inbox for the registration confirmation and click the verification link.

Users wishing to upgrade their account and benefit from several advantages such as lower fees and larger withdrawal limits must undergo the Know Your Customer (KYC) procedure and verify their identity through ID confirmation and proof of residential address via a utility bill, credit card bill, bank statement, or mobile phone bill issued within the last 3 months.

Users wishing to trade fiat currencies must also perform identity verification.

Note: If you have a referrer, click “Referral Code” and fill it in.

Step #2: Deposit Funds

To start trading, users must deposit funds, like on any other trading platform. The BTSE exchange supports a wide range of deposit options, including:

Crypto Deposits

Users with experience in crypto trading can link their existing crypto wallets to the BTSE exchange and deposit their digital currency to begin trading.

Fiat Currency Deposits

You can also deposit fiat currency into your account through a wire transfer, a credit/debit card, etc.

NOTE: The BTSE platform requires ID verification for credit card deposits and additional proof of address for bank transfers and fiat withdrawals.

Step #3: Start Trading

To buy or sell digital currencies, you must go to TRADING and select the digital currency. Then you must choose the Buy/Sell method under “MARKET / LIMIT / INDEX.”

NOTE: BTSE exchange provides a user-friendly TradingView for monitoring price movements.

TIP: If you don’t find the token you need within the fiat pairs, check if it has an available pair with Bitcoin.

Spot Trading

• Click on “Spot” under “Trade” on the top navigation bar
• Search and enter the pair you want to trade
• Select Buy or Sell and choose your Order type
• Set buying/selling prices and buying/selling amount (or exchange total). Then click on “Buy Order”/”Sell Order” to submit your order
• View your order in “Open Orders” at the bottom of the page.

Trading Options

BTSE exchange offers several trading options to cryptocurrency traders, including:

Spot Trading

The BTSE exchange spot trading feature offers 11 markets, 5 are standard trading pairs, and the other 6 are indexes. Since an index represents the performance of a group of digital assets, you’ll not be buying any actual underlying asset but rather the average performance of the group of assets.

Pairs like BTC/USD, USDT/USD, and ETH/USD are included in the standard offer, while BTC, ETH, LTC, and XMR are in the index offer, along with the BTSE 5 and BNC-BTSE (BBCX) composite indexes.

Here are the spot trading limits sizes:

• BTC: min 0.002 – max 2000
• USDT: min 10 – max 100,000
• ETH: min 0.05 – max 5000
• LTC: min 0.05 – max 5000
• XMR: min 0.05 – max 1000
• BTSE token: min 1 – max 25.

BTSE Futures Exchange

BTSE offers an extensive futures exchange, with over 20 futures contracts, such as BTC, ETH, LTC,  XMR, USDT, and BBCX.

Futures contracts also have an expiration range, and some offer a perpetual contract option, meaning a contract with no expiration date.

Following the industry standard, some futures can be traded up to 100x leverage, or a 1% initial margin, which brings us to the next order of business.

Leveraged Trading

Leveraged trading on the BTSE futures exchange can go up to 100x on some trading pairs, i.e., you need a margin of only 1% to make 100x larger orders.

NOTE: Margin trading is extremely risky. User funds can be lost if the trader bets on the wrong outcome. However, it can also grant massive returns if the bet is right, making it a high-risk/high-reward trading method.

OTC Trading

BTSE operates a 24/7 OTC (Over The Counter) desk at no additional cost. OTC trading enables prominent players in the crypto community to sell or purchase large amounts of digital currency, which is impossible on a regular trading platform because the crypto market value is affected by large trades.

Furthermore, the order book might be too thin to execute the relevant trade.

Trading Fees

BTSE Exchange uses different fee structures for its spot and futures trading platforms. For spot trading, BTSE uses the maker/taker fee model, which charges takers more than market makers. For accounts trading <100 BTC per month, maker fees are 0.05%, while taker fees are 0.1%. Moreover, the platform determines the account VIP level based on a one-month rolling window of trading volume, which is recalculated daily. Higher volume accounts benefit from a trading fee reduction of up to 80% on maker fees and 70% on taker fees.

Specific trading conditions are set according to a user’s trading volume (calculated in Bitcoin) and VIP level.

Trading volume in another currency is converted into Bitcoin-equivalent volume using the spot exchange rate.

It also offers a direct conversion tool between USDC, TUSD, and USD, charging just 0.3% to convert these stablecoins to fiat.

BTSE exchange doesn’t charge deposit fees.

Deposits and Withdrawals

BTSE platform enables you to make a deposit via SWIFT remittance. You get your transaction number and bank information under “Login” > “WALLETS” and can view all SWIFT remittance fee types on the platform’s site.

To withdraw fiat currency, go to SWIFT Remittance Log-in and “WALLETS,” and click on “Withdraw” under the fiat currency field. Enter the amount you want to withdraw and choose the bank account to which you want your currency to be withdrawn.

Similarly, to withdraw digital currencies, simply click “Withdraw” under the digital currency window, enter the amount, and choose the account you want your currency to be withdrawn to.

The BTSE withdrawal fees vary depending on the withdrawal currency and typically stand at the industry average. The minimum withdrawal amount also differs depending on the token.

For example, the Tether USD coin minimum withdrawal amount stands at 10 USDT, and its withdrawal fee is 5 USDT, with no minimum deposit or deposit fee.

Bitcoin traders, on the other hand, get different terms. The minimum withdrawal for BTC is 0.002 (equivalent to approximately $40 at the current rate), and the deposit fee is 0.0005 BTC (roughly $10).

NOTE: The crypto market is volatile, and the fees listed in digital currency have no solid dollar equivalent and are subject to change due to that volatility.

The deposit and withdrawal conditions are different for crypto traders wishing to withdraw in fiat. For example, the minimum withdrawal and deposit amounts for USD are $1,000, and the fee is 0.1% off the relevant trade. No deposit fee is charged. Fiat currency deposits may be charged a bank fee, payable to the bank, not to BTSE.

BTSE Token

The BTSE token is the exchange’s native token powers the BTSE ecosystem. It grants holders extra advantages and serves as the exchange’s base currency. The BTSE token is the first exchange token built on Liquid, a Bitcoin sidechain-based settlement network for traders and exchanges. The BTSE token reduces holders’ trading fees and is used as a payment method for buying BTSE exchange products and services. Additionally, the BTSE token allows users to save 60% on exchange fees.

Customer Support

Regarding cryptocurrency exchange assessment, customer support is an essential factor to consider. BTSE reviews often include the exchange’s poor customer service in their list of disadvantages. Moreover, some customers report it to be slow and unhelpful. The platform has no live chat, social media channels, or phone support to enable users to contact BTSE instantly and solve their problems without wasting time.

BTSE exchange provides a support desk with a help chatbot designed to answer only general concerns about using the platform.

To contact BTSE customer support, you must use the internal ticket system only. You’ll get a reply after several hours according to your query, which might not solve your problems.

Frequently Asked Questions

Is BTSE Exchange Available In the US

While there is no direct restriction from the BTSE exchange, US customers might go against the Securities Exchange Commission (SEC) regulations while using the platform. Some other global restrictions include Belarus, Cuba, North Korea, Syria, Iran, Venezuela, Libya, Russia, and Yemen.

Is BTSE Exchange Safe

BTSE hosts its own exchange and doesn’t rely on lax third-party security, which can lead to data breaches. It uses Google’s two-factor authentication system, preventing unauthorized people from accessing users’ accounts. 

BTSE Exchange claims user funds are stored in cold storage, accessible only via multiple keys. The exchange has been praised for bringing institutional-grade security to everyday investors.

Is BTSE Exchange Decentralized

BTSE exchange is a Decentralized Finance (DeFi) platform that supports trading in fiat currencies and digital assets.

Conclusion

The BTSE crypto exchange is an all-in-one platform with top-notch security and a wide range of digital assets, trading pairs, and deposit methods. It offers high flexibility and liquidity to its traders. The exchange is beginner-friendly, enabling novices to quickly and efficiently buy, sell, convert, or invest on the platform. The BTSE platform also provides advanced trading features to experienced traders, including traditional spot markets and leveraged trading.

The introduction of a separate educational platform, the BTSE academy, has already gained massive popularity amongst cryptocurrency traders.

BTSE also provides some unique features compared to its competitors, such as access to verified merchants and the possibility of becoming verified merchants.  

We hope our BTSE exchange review has been helpful for your crypto trading!

It should, however, be kept in mind that cryptocurrencies are volatile, and nothing in this article is a piece of financial advice. 

If you wish to learn more about cryptocurrencies, blockchain technology, and DeFi, you’re welcome to visit our blog and read articles like “What Is DeFi.” To learn how to manage your crypto portfolios, read our “Crypto Portfolio Trackers.”