Bitrue Exchange: Power Piggy, Crypto Loans, XRP Pairs
Bitrue is an exchange based in Singapore consisting of team members with a diverse background. To bring their exchange to the masses they have recruited people with mobile app, AI, and financial experience. You can access the exchange via iOS, Android, or the web. At the time of writing Bitrue is ranked 57th in volume on coinmarketcap.
Relative to other exchanges, Bitrue charges low fees and maintains zero fees for withdrawing XRP. Currently there is no bank-based fiat on ramp, but they compensate by providing rebates for credit card purchases. To my knowledge, Bitrue is the only exchange to provide this incentive.
Power Piggy
Aside from buying, selling, and storing your cryptos, you can earn passive income on your idle assets. By using the Power Piggy, users can now earn up to 15% interest on their digital assets. For those who are crypto skeptics you can earn 10.3% on your USD by lending it on Bitrue. This is great way for skeptics and agnostics to experiment with non legacy financial platforms. No exposure to volatility and you get a solid return.
To get started simply lock in your funds during the open period which occurs twice a day, 10:00 (UTC+8) and 22:00 (UTC+8). There is a daily cap and participation is done on a first-come-first-serve basis. Once your funds are locked in, you will earn interest until you decide to opt out. The dashboard gives a full overview of your Power Piggy’s total net worth and the interest you have received to date.
Bitrue Loans
On September 30th, Bitrue launched Bitrue Loans enabling users to take out loans using their digital assets as collateral. This tactic has been used by the wealthy in the legacy finance world to circumvent taxes and generate liquidity. They often used the liquidity to make more investments to optimize their returns. For example, by using their stocks as collateral they could get a loan to purchase a real estate investment. In the process they keep their stock exposure, avoid taxes, and purchase real estate. For the 1st time this service is now becoming available to the average retail investor.
48 XRP Pairs
Bitrue is committed to adding numerous XRP pairs. It was a good means to market their exchange and quickly build liquidity. It turned out to be a brilliant move with Bitrue now accounting for over 5% of the total XRP trading volume. Moreover, XRP allows people to make fast inter-exchange transactions at a low cost. To date they have the highest number of XRP pairs in the industry. For those interested in learning more, watch my comprehensive review video below. In this video I will show you how I leverage the benefits of the Power Piggy with my actual account.
