Highlights From TrueUSD x Bitrue’s “Ask Me Anything” Session on Twitter Spaces
29th November 2022 — Recently, Bitrue was invited by TrueUSD for a Twitter Spaces AMA session. Hosting the AMA session, is Cristian, the Community Manager of TrueUSD. Andreas Chianata from Operations & Partnerships at Bitrue as the guest speaker for the session will be answering questions surrounding Bitrue.
Without further ado, let’s dive into the Q&As from the session below:
C: Please briefly introduce Bitrue.
A: Bitrue is a leading CEX operating since 2018 with a goal intending to provide a trading platform that is simpler, faster, and safer to all crypto investors. Bitrue offers users secure, stable, and efficient financial services regardless of their geographical location or economic status. We pride ourselves on the wide variety of available assets and choices we readily offer, including support for over 1,000 altcoins, almost 2,000 pairs, 100+ Futures options, 200+ leverage tokens, and more.
We also support a Yield Farming Hub, which allows investors to earn high returns with a simple setup by staking their crypto assets. Not to forget Power Piggy, our most popular feature for generating a steady stream of passive income. Check out more about Bitrue and sign up on our website.
The Bitrue team was started by executives from the technology industry who developed a passion for blockchain. Bitrue is now an international team of experts in security, cryptography, finance, and other fields and is spread across offices in the US, Europe, and Asia. Our support staff is available 24/7 to assist with any queries.
C: Wonderful! I see that Bitrue has many passionate people working for it. What are some of the significant milestones Bitrue has achieved to date?
A: Good question!
We have been active through bearish and bullish markets for 4 years and have grown substantially with over 600K Twitter followers, over 9 million registered users, 2 million monthly active users, more than 1,000 tokens listed, trading volumes of 2 billion in spot and 3 billion in futures.
We will keep moving forward over the next several years and welcome more users, projects, and partners!
C: Awesome milestones! I hope that Bitrue can reach more goals and major milestones!
And your popular features, as you mentioned previously — Yield Farming and Power Piggy, can you explain more about them and what’s the benefit for the community?
A: The Yield Farming on Bitrue usually has a higher APY on Bitrue Yield Farming than other staking platforms!
All users are eligible to participate in the existing hundreds of Yield Farming pools with up to 200% APY. If whales or HODLers want high returns, it is essential to invest on www.bitrue.com/yield-farming to get high APYs, easier access, and heightened security compared to other exchanges.
The Power Piggy is flexible staking. We have more than 130 Power Piggy opportunities that offer up to 100% APY. This includes flexible staking and lockups for stablecoins (like USDT, USDC, DAI, and BUSD), GameFi tokens (like GMT, SLP, and AXS), DeFi tokens (like SUN, CAKE, and AAVE), MainNet tokens (like ETH, XRP, ADA, and ICP), and Meme coins (like VINU, DOGE, and SHIB).
We are on our way to including more high-quality assets in alignment with our staking roadmap, and we welcome eligible quality projects like TUSD to join us!
C: We can see that $TUSD has been listed on Bitrue. Why did you decide to work together with TrueUSD? Can you explain?
That would be something to tell you!
A: One word, Quality!
We have a research team that analyzes quality projects, and TUSD has shown that they are a project with lots of potential. TUSD has shown great performance in maintaining security in the stablecoin industry. TUSD has also established multiple partnerships and investors! The community, the team, coin reviews on CoinMarketCap (CMC)/ CoinGecko, and the audit all showed us that this is a project we really wanted to get involved with.
As a centralized exchange, we also maintain healthy partnerships with many projects and we definitely would love to see big growth in our partners as well. We see the growth of our partners align with our growth as an exchange, which is why we always show our support for our partners and the communities including TrueUSD. Hence, we have enabled Staking programs for $TUSD in our exchange and also opened the TRC20 Chain for $TUSD. Do check it out!
C: Here’s hoping that Bitrue and TUSD will grow together! Amazing support Bitrue has shown for TUSD Community so far, especially with the staking programs.
We also saw that Bitrue has its own tokens, $BTR and $BMAX. What are the use cases for the $BTR and $BMAX tokens?
A: That is an interesting question. We, as part of Bitrue, have put a lot of effort into $BTR and $BMAX. Bitrue is undoubtedly a growing Centralized exchange that uses $BTR as our native token to incentivize users coming to our platform. $BTR serves a lot of use cases in the platform, such as trading fee deductions, cash deposits by projects, voting for listings, wealth management programs, and loan programs.
$BTR is a deflationary token periodically burned through our buyback and burn program. So we will see $BTR’s supply gradually decrease. After that, as more people arrive at our platform and hold the tokens, the price will increase simultaneously.
While $BTR is sort of our project token, $BMAX, on the other hand, is something like our incentives token. $BMAX is a Bitrue reward token for staking and yield farming. It is backed by a pool of assets and a fixed token supply that will ensure the price stability of the token.
While Bitrue keeps expanding its ground and investing in some promising crypto projects, $BTR and $BMAX certainly will serve other purposes in the future. And the future for holders of both tokens will certainly be deemed rewarding.
C: Thank you for the explanation!
Can you also tell us about Bitrue’s plans for this year and what is coming up in the near term for Bitrue?
A: So currently, Bitrue has several campaigns that are running. It is crucial for you guys not to miss them.
One of them is, of course, our New Fan Tokens Listing! The World Cup kicked off a few days back. In conjunction, we are trying to provide our customers with trending and of course, high-quality fan tokens that can be not just promising but also interesting to hold. As for now, we already listed some Fan Tokens on our platform, but we are planning to bring in more!
Also, we have launched a new feature on our platform, which is COIN-M Futures trading. Along with its launch, we will have a campaign with many prizes. This campaign has a time limit, so we urge you to join immediately.
C: And about Bitrue’s expansion plans — how do you see Bitrue in the next 5 years?
A: Bitrue is definitely expanding and we look forward to serving other countries that are outside our list at the moment. With steady growth within our headquarters and international team, we are building strong foundations internally and externally.
Within the next 5 years, confidently saying with the current average growth that we are having in the platform, becoming one of the Top 10 Biggest Exchanges by volume will be a realistic target for Bitrue.
C: And we are on to the last question. How can TrueUSD community members start using Bitrue? And where can they find you?
A: For your information, It’s possible to use Bitrue to check the market trends with or without an account. But for trading, you can register here.
Also, as mentioned earlier, Bitrue has staking systems available and we have TUSD Staking enabled for both Yield Farming and Power Piggy! So while you’re at it, come and check it out!
And if you are interested in being our partner, we can offer special commission rewards. For more information, you can check here.
To learn more about Bitrue, we recommend you check out our following sites, don’t forget to support and drop a follow to stay updated about what is happening on Bitrue!
Bitrue Homepage — www.bitrue.com
Twitter — https://twitter.com/BitrueOfficial
Telegram Community — https.me/BitrueOfficial
Telegram Announcement — https://t.me/Bitrue_official
Reddit — www.reddit.com/r/BitrueOfficial
Medium — https://bitrue.medium.com
During the AMA session, Andreas also answered a couple of questions from the community. See below:
Q1. Problems such as shutdown, price fluctuation, and runaway have been existing in Crypto exchanges, even in the top ones. So how does @BitrueOfficial deal with such problems, and what’s your advice to choose a reliable exchange to avoid these risks? — @Angeljuli16
A: Good Question! Yes, this issue has been around for a long time, and now with all the recent crypto exchange issues many of the community are concerned about their investments and also having their assets controlled by Centralized Exchange.
To avoid such issues, we do regular reviews of our listed assets. As an exchange Bitrue has to be quick on catching up to the current news and incidents, once we identify a potential threat, we will immediately delist the asset. we are also careful not to list these kinds of risky assets in the first place, that’s why due diligence is a standard procedure in our exchange.
we have a dedicated team that monitors the current crypto market on a daily basis, ensuring that we will not miss any major crypto events possible that could potentially be harmful to our community.
Not limited to asset valuations, Bitrue also takes our users’ assets into account. Bitrue has been working closely with our partners to provide our audited proof-of-reserves. A third party will conduct this independent audit to ensure that we have ownership of all said assets. We are also the first Crypto Exchange to establish an insurance fund with XRP and BTR-denominated funds. Therefore, we have made public our insurance fund wallet addresses which can be seen by the public for the sake of transparency. This news was covered in Binance Feed as well.
Q2. Can you explain to us about utility & use cases of $BTR tokens in your ecosystem? What benefits do you offer investors for holding Your token in the long term? Will there any passive income models provide by the @BitrueOfficial platform through the staking & farming program? — @TonySta6879648
A: As I mentioned in the BTR topic talk earlier, $BTR serves a lot of use cases in the platform, starting from trading fee deductions, cash deposits by projects, voting for listings, wealth management programs, and loan programs. For the staking and farming program, users can stake their $BTR token to earn other tokens as long as the pools are available. You can find the available pools on the Yield Farming page, but let me remind you that the $BTR staking pool runs out real quick so make sure you are following Bitrue.
