Bitrue Review: Digital Assets Exchange With Some Unique Tools
Whether you are a veteran in the crypto space or a newcomer, looking for an escape from archaic financial institutions and their tiny interest rates – or just want some new ways to invest, Bitrue should be on your radar.
Bitrue aims to break down the barrier between decentralized (DeFi) and centralized finance (CeFi) pioneering a new way for investors to use their crypto and also get the most out of their digital asset holdings.
Bitrue caters to investors, but it also provides a platform where many firms can list tokens and interact with their community. The exchange is currently one of the top exchanges for the XRP token having almost 15% of total trade volume in XRP, just second behind Binance.
No matter how you look at it, DeFi is a hot place to be. Let’s take a look at Bitrue – and what it can do for you.
Founded in 2018, Bitrue has dedicated itself to providing consumers an easy way to manage their assets and create a passive income through a wide variety of tools that can be easily customized to your needs. Whether you are a day-trader, need institutional investors, or a long-term holder, Bitrue probably has the right tools for you.
The exchange is a leader in crypto investment with Power Piggy (Staking / Passive Income ) at the forefront, alongside DeFi, CeFi hybrid lending mechanism which combines the best features of both technologies, all for the benefit of the investors.
In addition, Bitrue has a complete set of trading tools that is market-ready with competitive transaction fees. The exchange supports features such as spot trading, an over-the-counter fiat onramp and offramp, perpetual contracts, margin trades, and especially credit card purchases.
The exchange hosts a large community of more than 1.5 million members that is still growing at a rate of 320% YoY and is actively trading as well. It is a one-stop-shop for wealth management and financial startups.
CeFi – DeFi Hybrid Model
It is often thought DeFi would be a step up from CeFi, and it is rightfully so thanks to the revolutionary innovation of blockchain-based lending. But for Bitrue, “It’s not about the technology, it’s about how to offer the best financial product for you”.
As both technologies excel in their respective ways, they still contain different drawbacks that may drive users away.
For DeFi, as it is still relatively new, some blockchains were not built to handle the traffic load, and encounter performance issues that hinder transaction speeds and create higher transaction fees. Furthermore, up to 70% of crypto in the market are still not DeFi ready.
In some ways, CeFi is a much simpler model, where investors borrow and lend from a centralized liquidity pool. The system can be more efficient, resulting in lower fees with a substantially higher average yield.
This simple model could be replicated for nearly any token, creating higher liquidity and a wider consumer base. However, this sacrifices the transparency between investors and their assets and forces users to trust the exchange to manage their cryptos, a common problem exhibited by banks and other ordinary financial institutions.
The Bitrue Solution
Bitrue believes these technologies should not be in competition, but rather complement each other via technological coalescence. By shifting from a CeFi model to a hybrid between it and DeFi, it allows Bitrue loans to retain all the characteristics of CeFi while providing an extra layer of transparency.
The hybrid system will allow lenders to request a loan on the exchange. Bitrue will forward this request to a lender, and if the offer matches the needs of the lender, cryptos will move the borrower’s assets into a collateral wallet which will act as a safeguard in the case they fail to pay their interest.
Bitrue will invoke the collateral funds to pay the lenders. Then the funds will be transferred from lender to borrower. There is also an additional layer of transparency where the borrower’s collateral wallet will be publicly viewable to all lenders – which is great for anyone who loves transparency.
Once a member of a San Francisco based blockchain incubator, Curis Wang, turned into an entrepreneur and now CEO of Bitrue. He recognized the potential of cryptos and blockchain technology in the modern economy and the flaws in traditional financial institutions.
Bitrue and its DeFi – CeFi hybrid is one of many answers that Wang and his team of crypto enthusiasts have come up with to create an equal society, where everybody deserves a chance to achieve financial success.
With a background in blockchain development, Wang teamed up with many of his old colleagues in the cybersecurity field to lay the foundation of what is to become of Bitrue with its pioneering financial services.
When it comes to crypto investment, one of the most important things that Bitrue provides to its customers is choice. Investors have the freedom to choose how they would like to invest their crypto and how to earn from their investments.
The two options that consumers can choose from are flexible and lock-up investments.
When it comes to flexible investment, Bitrue’s Power Piggy investment model was one of the first to pioneer this feature which has now become a standard for many large and small exchanges.
Investing in Power Piggy is an easy experience. Unlike the experience you have at the local bank, Bitrue guarantees a substantially higher interest rate than what common financial institutions would offer.
The minimum APR of 5.3% and can top 10.3%, investors could pick a token of their choice out of the list of 11 trusted cryptos and receive interest payout the next day. Your APR could be increased further if BTR, the native token is held in your portfolio.
An alternate way of crypto investment in Bitrue is through a lock-up account where the tokens will be held for a predetermined amount of time that is often around 30 days. The coins will be locked and could not be used for any purpose.
In return, investors get a boost in interest rate, much higher in comparison to the flexible account, even with the BTR token boost. The highest achievable interest one could get in a locked account is 13% on USDT.
In the case of flexible investments, there is a community-wide cap on how many tokens can be sold in a day and it is only available twice a day. This model creates a competitive environment where investors will often race each other to buy off tokens.
For lock-up investments, since the payout is so large, the cap will only open for a limited time, usually every three weeks. If you miss the cap, you have to wait until the next one to invest.
Whether a user chooses flexible or lock-up investment, they should be able to create a reliable source of passive income with Bitrue.
Like most exchanges, Bitrue also has its own native token, BTR. But unlike other generic exchanges, BTR token presents a great asset management tool that is also integrated with Power Piggy, bringing investors multiple layers of benefits.
Once an investor has BTR, they are eligible for bonus interest whenever they decide to purchase more BTR, and up to 20% interest could be earned.
The benefits do not stop there, upon the already competitive flat 0.098 trading fee, investors could get a further 40% discount if they decide to settle the fees using BTR, and in crypto, every token makes a difference.
Additionally, BTR holders are given exclusive Power Piggy VIP caps which allow them to bypass the daily set cap and invest whenever they want instead of competing with other investors to spend their daily caps.
Furthermore, by holding BTR with a value of 20% or higher than the total value of every token in Power Piggy, the interest rate will increase to the highest degree. For lock-up investments, for a limited period, BTR holders will have a personal cap at their disposal.
BTR also provides a great way for investors to mobilize their idle crypto assets. With the recently introduced dusting feature, these spare tokens could be converted into BTR and allow users to enjoy the benefits initially mentioned before.
Bitrue and its features have empowered the investors, giving them back the control of their finances which were once buried in the archaic banking system.
Giving users choices on how they would like to profit from token investments in lock-up and Power Piggy, providing much-needed transparency and trust through the new hybrid lending system all make Bitrue worth a look.
DeFi is probably going to be the next major financial innovation – and Bitrue has an innovative platform that leverages these new ideas for investors of all sizes. You don’t have to be a Bitcoin millionaire to take advantage of a very competitive lending market – and create passive income.
If you want to learn more about Bitrue, or sign up for an account, please click right here to visit its website. Bitrue is a lot more than a crypto exchange – it is a great way to create an income from your tokens!
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