BTSE, a bitcoin and cryptocurrency derivatives exchange, today unveiled an upgrade to its multi-currency order book with new perks of trading pairs, fairer pricing, and savings on fees. The multi-currency BTSE cryptocurrency trading platform order book is fully inclusive of crypto assets, fiat currencies, and stablecoins.
“By having everything in one place, we want to create a liquidity haven for the digital asset trades where regardless of the popularity of their trading pair, every trader can see the same liquidity and experience fairer pricing,” said Jonathan Leong, CEO of BTSE.
The upgrade will permit users to freely switch between quote currencies and trade all available trading pairs on the BTSE exchange, meaning users no longer have to pick a base currency upon sign-up.
Traders will also be able to save on trading fees by side-stepping multiple transactions. If a user wants to buy LTC with ETH, they can now do it directly in a single transaction using one orderbook, as opposed to paying double to sell ETH for USD, and again to buy LTC on a separate order book.
No longer tied to just one currency, users can now trade crypto to crypto, crypto to fiat, and crypto to stablecoin on the same order book, resulting in immensely heightened liquidity across the exchange.
For example, a BTSE user holding Monero (XMR) can now trade with all supported currencies on the platform, from Bitcoin to Euro, USD, or Singapore Dollar, all while seeing the same liquidity.
By combining the buy and sell orders for all trading pairs of each main market, BTSE has reduced its number of order books to five – BTC, LTC, USDt, XMR, and ETH – with plans to add more altcoins in the coming month.