Bitrue Coin and Exchange
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An editor at Coincrop
23 Sept 2022 | 21 min read
itrue is a cryptocurrency exchange and a digital asset management service. It's among the Ripple-endorsed sites suggested for bitcoin trading platforms and XRP transactions. Bitrue is a one-stop shop where consumers may buy, trade, hold, and withdraw cryptocurrencies and blockchain-supported digital currencies using their accounts. Bitrue is a full trading platform that specializes in transaction efficiency.
Bitrue is also one of the first cryptocurrency exchange platforms to offer loans backed by cryptocurrency and blockchain technology. It's a unique platform for bitcoin enthusiasts. Bitrue builds trust and confidence in users by providing this exchange platform. Traditionally, cryptocurrency exchanges have spread their services across numerous apps, but Bitrue combines all functionality into a single platform.
Bitrue is a cryptocurrency exchange that provides extensive trading features such as charting, stop-loss trades, and leveraged margin and futures trade. Bitrue also has an insurance system against hacking for customers' security.
Bitrue offers traders the ability to trade nearly 200 different cryptocurrencies at market rates with low exchange charges. Bitrue might not be the largest crypto exchange platform available, however its wide range of accepted cryptocurrencies and comprehensive trading and investing make it a great option for many cryptocurrency traders.
What Is the History of Bitrue?
Bitrue was established in 2018 by a group of blockchain experts in Singapore to provide comprehensive financial services for cryptocurrencies. It was created as an alternative to Bitcoin trading and among the first platforms to offer XRP.
After the Securities and Exchange Commission, a US government oversight body responsible for regulating the financial markets and protecting investors (SEC), began an investigation into Ripple Labs, the firm that created XRP.
SEC charges Ripple Labs for violating US securities legislation and the case is still ongoing. However, some Exchange platforms have discontinued XRP coin but Bitrue remained to provide it and became the preferred platform for XRP traders.
The platform has experienced substantial growth since. In March 2020, the platform had acquired enough prominence to place 64th in the CoinMarketCap ranking. At that time, its 24-hour daily trading volume was $218 million. There was nearly a 500 percent rise in April 2021; on that month, the transaction placed 70th on CoinMarketCap and exchanging for more than $1.2 billion dollars worth of cryptocurrency are done through the platform.
Although Bitrue is secure now, it was previously hacked. The corporation compensated the users so that they would not suffer losses, but this should be warning sign that you might want to store your assets on another exchange platform.
What Is Bitrue Coin?
Bitrue's native coin is called BTR. It's a currency that efficiently powers its operations and helps the company achieve its goal of delivering comprehensive financial solutions worldwide.
BTR is an ERC-20 token, which means it relies on the Ethereum blockchain.
The BTR token is an essential part of Bitrue's services, from providing interest rate boosts to customers’ accounts to helping the company grow. You can use BTR (Bitrue Coin) to trade a variety of cryptocurrencies on Bitrue, with new pairs added all the time.
If users pay their trading costs on the Bitrue platform with BTR (Bitrue Coin) the charge will be lowered by 20%. Having BTR boosts the rate of return users get on the bulk of their assets. They frequently provide possibilities where you may invest your Bitrue Coin to engage in mining and earn huge APYs, occasionally up to 80% or more! Owners of Bitrue Coin can now make critical decisions about the future of the Bitrue platform. Bitrue holds both Bitrue Coin and XRP for insurance reasons
Users may get a 20% discount on the trading fee if they pay with Bitrue Coin (BTR) on the Bitrue platform. The rate of return that users obtain on the majority of their assets is increased by having BTR. They frequently offer opportunities to invest your Bitrue Coin in mining and earn large APYs, sometimes up to 80% or more! Bitrue holds both BTR and XRP for security reasons
Bitrue coin is a digital asset that can be used to purchase goods and services. Bitrue coin can be bought and sold on exchanges and can also be used to make payments for goods and services. Bitrue coin is based on the blockchain technology and utilizes cryptography to secure transactions. Bitrue coin has a limited supply and is not subject to inflation. Bitrue coin can be used to purchase goods and services anonymously and can also be used to make payments for goods and services. Bitrue coin is a decentralized currency and is not subject to government or financial institution control.
What Are the Benefits and Uses of Bitrue Coin?
• Bitrue coin can be used to purchase goods and services.
• Bitrue coin can be bought and sold on exchanges.
• Bitrue coin is based on blockchain technology.
• Bitrue coin has a limited supply.
• Bitrue coin is not subject to inflation.
• Bitrue coin can be used to make anonymous payments.
• Bitrue coin is a decentralized currency.
• Bitrue coin is not subject to government or financial institution control.
Borrowing From Bitrue?
Bitrue is a blockchain-based digital lending service that utilizes cryptocurrency. In 2019, the creators of Bitrue introduced P2P loans. Online loans are accessible to everyone and have shown exceptional rates of adoption, with borrowed amounts climbing into the tens of millions of dollars.
Your cryptocurrency wallet will display the money you borrow on the website. Consider this a crypto-backed wire transfer rather than a regular bank transfer.
The exchange offers digital borrowing, which is the most popular service. This enables a variety of transaction ways and makes borrowing cryptocurrency simple with multiple payment options.
Customers who use the service frequently get interest payments as rewards. The rate of return might be around 15%.
P2P lending systems offer substantial benefits to borrowers, including loss coverage and the ability to keep their funds. In addition, P2P lending will enable users to obtain additional market exposure and recover their complete security if they return the loan.
How Do I Use Bitrue?
You can create a Bitrue profile for free using your email and passcode. Once you verify your email, you can add assets like cryptocurrency or fiat currency, and begin trading.
Customers are not required to provide any personal information when trading on Bitrue, however you may be required to present identification documents in order to withdraw cash or engage in certain platform activities. Authentication necessitates uploading a photo ID from your government and verifying your residence, this is part of general Know Your Customer (KYC) requirements.
Customers can buy cryptocurrencies from the website or a favorite app. You may select any digital currency you want to purchase after logging in to your Bitrue account. Bitrue allows you to purchase a variety of digital currencies as well as other blockchain-supported assets.
Bitrue customers can use their credit cards to purchase cryptocurrencies, which will be then sent to the customer's wallet within an hour. The fee for this service is 3.5 percent of the transaction amount or $10 (whichever is larger). So if you do a lot of transactions, you'll most likely end up paying 3.5 percent in fees.
Before you start trading any cryptocurrency assets, be sure to select the assets you want to sell and begin the trade from either your web browser or application. Also, keep in mind that exchange rates fluctuate, so it's important to double-check the trade pairings and crypto assets before proceeding. When trading on Bitrue, one of the most active markets is usually XRP.
Can I Earn Interest in Bitrue?
Bitrue's interest-earning plan supports a variety of popular cryptocurrencies and provides annual percentage rates of up to 15%. If you're new to staking, Bitrue recommends starting with Power Piggy. Also, Power Piggy funds have no lockup restrictions, so if you think it's a good time to sell your assets, you may do so at any time by withdrawing them from the Power Piggy and trading them on the platform.
If you invest in Power Piggy, you're getting a lot more than just access to over 100 currencies. You also get returns that rival those of their competitors. But it doesn't stop there! If you maintain a minimum of $500 in BTR, we'll give you an additional 3% return on investment. And if your total investment is at least $10,000 worth of BTR, your rate will go up by 20%. So the more you use Power Piggy, the more money you make!
Their Yield Farming program is ideal for if you're looking to make long-term investments - similar to Power Piggy in that your funds are locked away for a set period, but with increased returns.
How Secure Is Bitrue?
Bitrue offers the same basic security as other crypto exchange platforms: encrypted servers, whitelisting, and crypto assets held in offline wallets. Despite this, several of Bitrue's flaws have previously been exploited owing to its notoriety and unique characteristics. The company's excellent reputation and unique features contributed to its rebound.
After the platform was hacked in 2019, resulting in a loss of more than $4 million, the firm is attempting to raise its security and safety standards. The platform was shut down for a short time while authorities oversaw the concerned accounts. Bitrue has vowed to review its rules and improve its safety procedures as a result of this event. Although this is concerning, Bitrue has an insurance reserve and can compensate any losses promptly enough.
Bitrue has upgraded its security measures significantly. Access to the client portal has to go through specific security identity measures, as well as other securities, such as two-factor authentication, offline storage for crypto assets, profile lockouts, and emailed secure passcodes are all used across all Bitrue interactions. There is a specific number of insurance reserves set aside in the event of a possible Bitrue-induced catastrophe.
Bitrue Customer Support?
In addition to live chat, you have the option to contact us by email or through Telegram. You may get customer support on Twitter as well. To start an email ticket with customer service, fill out this form. A customer care agent will respond within 24 hours.
Bitrue's primary client assistance tool has a large help section, with several FAQs and explanations of how various Bitrue solutions operate. The website also includes several automated web pages and spaces for addressing any operational issues. Bitrue, like other cryptocurrency exchange platforms, is a self-service website with limited customer support options.
Bitrue has received positive comments from previous customers. Customers have previously complained about missed payments, disabled accounts, and late replies from the staff owing to the large number of users. Bitrue's dependability and simplicity of use are emphasized by the good comments, so it would appear that they have turned a corner?
Referral or Affiliate Programs
With Bitrue, affiliates can create and deliver custom referral invitations to their own contacts. In order for the referred contact to receive the reward, they must sign up for Bitrue using the special link provided by the affiliate. For every transaction made by a referred contact, the affiliate will earn a commission on the trading fees.
If an affiliate has a minimum of $10,000 in holdings, their commission will be increased to 50%. Once an associate has traded on numerous accepted currencies, they may earn up to a 50% reward!
Bitrue will credit your rewards within one day after you have completed the task. The amount can be given to you in a number of different digital currencies, and all you need to do is link your contact information to your profile!
To be eligible for rewards, you must add your mobile number and use the given special affiliate links or QR code. Bitrue will inspect new profiles for validity and remove any false or duplicate profiles without giving any reward. Further to this Bitrue maintains the right to change the reward conditions at any moment.
The Bitrue coin is a digital asset that has the potential to revolutionize how we interact with the digital world. With its unique ability to be exchanged between different platforms, it could become the standard currency for the internet. While there is still some way to go before this happens, the Bitrue coin is certainly a project worth watching.
Bitrue, although it has received some negative feedback in the past and been breached, offers a wide range of services that would be beneficial to moderate to expert cryptocurrency users who want to make more money and take advantage of new currencies. So if this sounds like you, Bitrue might be worth checking out.
Just remember to be vigilant about security and always withdraw your coins to a personal wallet.
JonathanAn editor at Coincrop
Jonathan is a Coincrop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely sailing.
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