BTSE Launches Litecoin Spot Trading
We are excited to announce that starting today, we are offering spot trading support for Litecoin (LTC) on BTSE.com.
Litecoin is currently the fourth largest cryptocurrency by market capitalization, and its addition to BTSE opens up a new range of trading options for our users.
What makes spot trading on BTSE different?
Many exchanges struggle to offer true USD or fiat currency trading pairs because of significant regulatory and banking hurdles. A number of major exchanges has suffered catastrophic flash crashes as a result of low liquidity trading pairs being unable to fill unanticipated sell orders, forcing the price down artificially, and filling buy orders for a few lucky traders.
Recently, this technique was used to siphon funds from the Kraken exchange. When a hacker realized that the BTC-CAD order book was extremely thin, they dumped 1200 Bitcoin from a compromised wallet to their own buy orders, crashing the market down to 100$.
At BTSE however, we are able to provide frictionless trading pairs between fiat and cryptocurrencies, including EUR, USD, GBP, RMB, JPY, SGD, HKD, and MYR. Once launched, LTC trading pairs will be seamlessly integrated to support all of BTSE’s fiat and cryptocurrency trading pairs.
BTSE is the only exchange offering an all-in-one order book for spot trading. This allows for the simple aggregation of liquidity, giving BTSE traders a tighter range for a superior trading experience. This should provide confidence to traders who no longer have to worry about thin liquidity for less popular trading pairs.
How to Start Trading on BTSE
It's quick and simple - upon sign-up, you'll be able to pick your spot trading currency of choice and deposit fiat or cryptocurrencies into your account. And that's it; you're ready to get trading.
Litecoin is an open-source decentralized cryptocurrency aimed at a providing high-volume global payment rails. Forked from Bitcoin’s codebase in 2011, Litecoin’s 2.5 minute block confirmations, Scrypt Memory Hard PoW, and an 84 million coin supply often lead to it being described as a “silver to Bitcoins gold”, or alternatively as “a Bitcoin testnet”. The project was catalyzed by Charlie Lee and has recently begun experimenting with Mimblewimble sidechains. It was the first major cryptocurrency to implement SegWit in mid-2017.
BTSE is a multi-currency spot and futures trading platform custom-built and designed to bring efficiency and stability to the cryptocurrency trading landscape today.
Through a number of technical key innovations, BTSE tackles some of the areas traders value the most: BTSE’s next-generation matching engine runs purely in memory without the need for a database, enabling sub-millisecond transactions and significantly reducing the risk for system overloads. Horizontal scaling allows BTSE to upgrade with near-zero downtime. And the entire exchange is self-hosted – an impactful security advantage.
BTSE’s team is filled with elite institutional experience in finance, technology, ventures building, and the development of high volume trading systems. BTSE’s founding members come from backgrounds including Goldman Sachs, Cisco and IBM.
The platform is licensed by the Department of Economic Development via the Government of Dubai and is regulated through the Central bank of the United Arab Emirates, providing the exchange with strong banking relations.
Your Opinion Matters
Are you a trader on BTSE.com or interested in signing up? Do you have suggestions or requests for us? We love to hear your feedback so we can continuously improve our services. To get in touch, send an e-mail to firstname.lastname@example.org or send us a message at the official BTSE Twitter account: @BTSEcom.