The internet is tumbling steadily closer to the new phenomenon dubbed Web 3.0, and with cryptocurrencies, decentralized finance, and NFTs becoming ever more popular and sought-after, a good crypto exchange is becoming more and more essential.
There are many great ones out there, vying for the number 1 spot in the crypto market, and Bitrue is one of the most popular with a 24-hour trading volume of over $2 billion. Over 500 trading pairs are available, and the platform also now includes many great DeFi features.
What is Bitrue?
Due to higher gas fees, traditionally centralized exchanges are beginning to lose customers to decentralized platforms where they can remain anonymous and save a ton of money to boot, however, both models have their benefits.
Bitrue is something of a hybrid. A reliable, easy-to-use centralized currency exchange has been built upon to allow for many DeFi features such as farming, staking, investing, and even loaning. Using these features, users can earn a steady stream of passive income from their investments.
Founded in 2018, the platform was originally intended to be a place for buying, selling, and trading crypto, but has slowly evolved over the years to the model it operates on today.
To support businesses on Bitrue, allow voting rights for listings, and supply money for loans, Bitrue created the BTR coin. This is the native coin for Bitrue, and it can be farmed, staked, sold, and used to vote on proposals and investments.
Save on Transaction Fees
Bitrue has some of the lowest transaction fees of any crypto exchange, which is one of the reasons it has gained so much attention. Exchange fees go as low as 0.098%, but, of course, the price depends on the coins you are swapping.
To save even more money, you can use the native BTR coin to pay for your transaction fees. This will give you a whopping 20% discount, meaning you can exchange currencies with fees as low as 0.0686%. Using this model encourages users to buy and spend BTR, strengthening the ecosystem and supplying funds for loans and investors.
As a crypto exchange, Bitrue is fairly solid as it and offers one of the largest selections of coin pairings of any other exchange. With low transaction fees that can be made even lower when paying with BTR, everyone benefits from using Bitrue. The decentralized model allows more money to go back to investors and to provide loans for projects.
It’s also a great step for the platform to begin to allow staking and farming, something a lot of other exchanges are beginning to do now. However, while many other exchanges are now offering a full range of DeFi features, Bitrue is only just beginning on this path. It looks set to change rapidly over the next few months though, so make sure you keep your eyes open for more developments.