Follow These Seven Steps to Become a Seasoned Trader on BTSE
By completing tasks in our new Gleam campaign, you will explore the diverse features of BTSE Exchange and acquire new tools to expand your horizons in crypto trading.
At BTSE, we want all of our users to trade on our exchange with confidence. We developed a clean interface and intuitive user experience, presenting a simplified process for asset conversion to make it hassle-free. Even so, crypto trading has a steep learning curve, so we have also developed a series of how-tos to show you the ropes. Whether you’re just starting out with crypto or seeking new options for your trading strategy, there’s something for you here.
To provide extra incentive for our users to try out BTSE’s functionality, we’re sweetening the deal by offering a prize pool. All you have to do is complete each step in a Gleam campaign, which links up with our exchange’s diverse features. The goal? To give you the basic knowledge that you will build upon to become an expert crypto trader.
#1. Start with Digital Asset Transfer: Deposit Cryptocurrency
Before you continue this section, make sure that you have already clicked “Create Wallet” to generate your unique BTSE wallet address if you don’t already have one.
For those who already own crypto assets, you can transfer them over to your BTSE Wallet as part of your trading reserves. To do this, follow these steps:
● In your non-BTSE wallet, select the currency you want to transfer to BTSE.
● Enter the amount you want to transfer.
● Select the correct blockchain.
● Paste your BTSE wallet address into the “Withdrawal Address” field.
Double-check your information, then confirm the transfer.
Important note: If you select the wrong currency and blockchain, you may lose your assets permanently. It is crucial to ensure this information is correct.
To access our guide on depositing cryptocurrencies to your BTSE wallet, click here.
#2. Become a Crypto Trader: Perform a Spot Trade
Now that you have assets loaded into your BTSE wallet, you’re ready to begin trading.
Spot trades are purchases or sales of an asset for instant delivery at a specified time, including immediately. They are the simplest form of trades that you can perform on BTSE. Here’s how to do it:
● Click the Spot tab
● Select a market, such as BTC/USD
● Select an Order Type — Limit Order, Market Order, or Index Order
● Enter your order price and size
● Double-check your information, then click “Buy” or “Sell” to finalize your order
To read our guide on spot trading on BTSE Exchange, click here.
#3. Continue on By Verifying Your Identity: KYC
To keep everything above board, we ensure every user undergoes an authentication process. This is known as KYC, or “know your customer,” and is an essential first step when you sign up to use any legitimate exchange.
Individuals must provide a photo ID, select one of the following:
● Driver’s License
● Any government issued ID
Also provide a proof of address, select one of the following:
● Bank statement
● Utility bill
● Credit card bill
This begins on our Identity Verification page, where you will be prompted to upload photos or scans of each document. After we receive the files, processing takes 1–2 business days.
Our full KYC guide can be found here.
#4. The Cash Must Flow: Deposit Fiat
Once your account is verified, the next step is to make a deposit so you have capital to begin trading. One option is to load your wallet with some fiat. You can do this by charging a credit card or initiating a SWIFT/SEPA bank account transfer, or by filling out a bank remittance form.
Here is the full process for using a credit card or authorizing a SWIFT transfer:
● Go to Wallets
● Click “Deposit”
● Type in the amount you want to transfer to your wallet
● Choose a payment method — credit card, SWIFT or SEPA
● Check the remittance details
● Submit the request!
In any scenario, you’ll be provided with a transaction number, which will be a reference point in case you require assistance.
To read our full guide for depositing fiat currencies into your BTSE Wallet, click here.
#5. Hand to Hand: Perform an OTC Trade
OTC trading, or over-the-counter trading, is the exchange of assets between two parties without passing through an exchange. Available 24 hours a day, 7 days a week, BTSE OTC trading is convenient, fast, and carries no slippage, meaning the price that is quoted for you is final.
To perform an OTC trade, follow these steps:
● Visit the OTC Quote page
● Select the Buy or Sell tab
● Select the cryptocurrency for your quote
● Choose a settlement currency
● Enter the intended size of your trade
● Press “Get Buy Quote” or “Get Sell Quote”
● Select “Accept Buy” or “Reject”
The tokens that can be bought and sold OTC are BTSE, USDT, TUSD, USDC, BTC, ETH, LTC, and XRP.
To comb through our full guide on OTC trading, click here.
#6: Engage Financial Complexity with Ease: Purchase a Futures Contract
Put simply, futures are a type of financial contract that obligates a buyer to purchase an asset or a seller to sell an asset on a predetermined date, at a predetermined price.
This is one of the features on the BTSE Exchange, where you will also be able to utilize leverage to control a large value in your contract by putting forth a small amount of capital, in turn multiplying your gains.
Follow these steps to purchase a futures contract:
● Visit the Futures page
● Select your Order Type
● Enter the order price and size
● Double-check your information, then select “Buy” to finalize your order
Important note: Trading with leverage carries risk. The biggest risk is that, like profits, losses are also amplified.
To learn more from our full guide to trading futures, click here.
#7: Flexible and Fixed Income: Use the Earn Function
There is a way to earn stable income from crypto, much like you would from interest paid out to you for your bank deposits. BTSE’s Earn function makes this possible by providing rewards in fixed intervals. This is particularly beneficial to users who seek a low-risk option for passive income.
Here’s how to utilize BTSE’s Earn function:
● Visit the Earn page
● Select the plan that suits your goals, such as 7% APY for USDT deposits
● Enter the amount you want to deposit
● For fixed deposit products, you will need to select the number of days to lock in your deposit
● Read and agree to the terms and conditions
● Click “Start Earning”
To read more about earning interest in our full guide for flexible and fixed deposit products, click here.
Prize Pool Details
To give our community a little extra incentive to take part in our Gleam campaign and develop the skills to become an expert trader, we’re offering a prize pool of $1500 in $BTSE tokens. Here’s the breakdown for the prizes:
● 250 $BTSE x 1 winner
● 150 $BTSE x 1 winner
● 100 $BTSE x 1 winner
● 50 $BTSE x 20 winners
Go ahead and try out all the tasks in our Gleam campaign! By following our guides and stepping through each process, you’ll be taking the first step to become a seasoned crypto trader. Good luck!