BTCNEXT: Basic Guide for Beginners from Platinum Q DAO Engineering team

Crypto traders can win big, surfing on top of huge price movements here. But it's hard to find a reputable exchange and it's even harder to find a reliable stablecoin. BTCNEXT delivers on both fronts - it's easy to use and secure, while it also offers USDQ, a fully decentralized stablecoin, that's highly reliable. It doesn't matter whether you need to hedge for a couple of hours or a full month, USDQ is decentralized and algorithm-driven, which eliminates any risk coming from "legacy finance". In addition, the exchange offers good fees (0.010% for all transactions). We've peeked inside to see how it works. Read on to learn more about this innovative exchange.

BTCNEXT is an easy-to-use and reliable cryptocurrency exchange, catering to both professional and newcomer traders. It's headquartered in Saint Vincent and the Grenadines. The exchange offers highly competitive fees and quality customer support. BTCNEXT leverages a broad-based team of experts in finance, trading, blockchain, and security, continuously working on new features and capabilities.\n

Security has always been the top priority for the team. SSL-based solutions deliver the utmost protection for customer data. All of the servers, utilized by the exchange, are located in duly certified data centers featuring the latest protection layers against digital and physical attacks. The team has been able to deliver both convenience of use, as well as the highest reliability and security.

Main Features at BTCNEXT

At BTCNEXT, users will find all of the standard features, offered by crypto exchanges. Meanwhile, identity checks go through relatively fast. Here, traders can work with a multitude of cryptocurrencies. Users can deposit Bitcoin into their exchange wallet and immediately start trading cryptocurrencies.

The exchange has everything traders need to analyze price movements and make educated judgments. They will find the wealth of easily accessible data with real-time market feed, advanced types of charts, historical records, and reports. There's also an easy-to-connect API, ready to enable automated trading.

BTCNEXT stands out for the professional approach to develop their qualified team is taking. Constantly improving underlying solutions and customer-facing functionalities, the team brings stability and reliability. All of the transactions are processed fast, which is particularly important in the dynamic crypto markets.

Each transaction is protected with SSL technology, on par with bank-grade security, eliminating any concern about security.

Opening an account at BTCNEXT

It's pretty easy to sign up with BTCNEXT. All you have to do is specify your email address. You'll receive an email, requesting you to confirm registration. Once you do, you can start trading.

You'll need to go through a quick identity check before you can withdraw funds. This is necessary to prevent use by citizens, registered in excluded jurisdictions. The customer service ensures that all identity checks are done as fast as possible. However, whenever a new user hasn't heard from the team for some time, they can reach out in Telegram and find out about the process status.

BTCNEXT enables 2FA authentication to prevent any unauthorized access to accounts. Users will need to install Google Authenticator app to the smartphone and set up 2FA function in the settings.

Trading at BTCNEXT

After you log in, click the "Exchange" button in the top menu. This will open the trading screen.

Figure 1

On the left, you'll see the trading pair currently opened. Click on it (action 1 on the picture) and choose your basis currency (action 2) and then choose the trading pair you want to see (action 3).

Figure 2

Figure 3

In the bottom right corner, pick the order type you want to open.

Figure 4

The platform offers a multitude of technical indicators (the wheel icon above the chart) that can help traders make balanced calls in their work.

Figure 5

What is USDQ?

USDQ is a fully decentralized stablecoin that trades on BTCNEXT. It's used as an opposing currency for trading pairs here. It's pegged 1:1 to USD, acting as a substitute for US dollar.

USDQ leverages neural networks and sophisticated stabilization mechanisms in order to assure long-term stability. It's a part of the two-coin ecosystem with USDQ being a stablecoin and Q DAO acting as an internal governance token. A great example of real use for blockchain in finance, USDQ enables Bitcoin collateralization for fully decentralized margin trading. At BTCNEXT, USDQ can be purchased and sold as easily as any other cryptocurrency. Users can use the coin to hedge against undesired price movements in short, medium and long term.\n \n

The biggest benefit of USDQ is that it's fully on the blockchain, which eliminates any "counterparty" risk and brings long-term stability. USDQ is great to hedging, long-term saving and diversifying trading portfolios.

What are the fees payable at BTCNEXT?

BTCNEXT has some of the best fees on the market. It charges 0.010% as a trading fee for both buy and sell transactions. In addition, the exchange offers lucrative conditions for VIP clients (customers with deposits >$50K). Those clients will enjoy special fees for deposit/withdrawal transactions throughout the first 6 months of use.

Is it safe to trade at BTCNEXT?

The exchange in registered in Saint Vincent and the Grenadines which is one of the major offshore locations. Currently, this jurisdiction doesn't have any regulations for cryptocurrency projects and exchanges, which means that BTCNEXT operates in a "gray area" of the economy. However, this is the case for virtually all crypto exchanges since almost all territories are only starting to develop regulations. Being a popular offshore jurisdiction, Saint Vincent and the Grenadines might be among the first to pass favorable cryptocurrency regulations.

BTCNEXT enables trading for citizens of countries around the world. However, Chinese and US citizens should understand that they are using the exchange at their own risk during to restrictive regulations, implemented by these countries. Notably, China has banned all crypto exchange and ICOs, prohibiting any transactions with crypto.

Being registered in an offshore location, BTCNEXT is a convenient option for Chinese citizens. The customer support service has a strong Chinese sub-team, always ready to answer all and any questions customers might face.

The development team says that they are working on the OTC component which will be launched in the coming months. OTC would enable trading parties to connect directly, paying via cards, PayPal, bank transfers and other methods. OTC is mainly for large-scale transactions which go outside standard exchange channels.

Bottom Line

BTCNEXT is a great choice for those traders who open and close lots of short-term trades, speculating on lower-timeframe opportunities. There are 3 reasons for that. First, the exchange uses USDQ, which is a fully decentralized stablecoin, facing no risks that swarm around "Tethers". Second, the fees are low. Third, big-rollers win from super-tasty bonuses. All in all, the number of trading pairs is pretty good. And, on top of that, traders can connect to an API service, automating lots of their routine operations, which is always good. BTCNEXT partners with the Q DAO ecosystem’s stable coins, including KRWQ. KRWQ is a fully decentralized stable coin backed by Bitcoin (as well as other top 10 currencies in the future) and pegged to Korean Won (KRW). Korean traders will fall in love with the new stablecoin, which allows them to store funds in KRW while continuing holding a crypto token. There is no need to have an exit into fiats anymore. The ability to continuously operate within the crypto industry may be the spur that the crypto community needs for the next big move in the mass adoption across the globe.
Additionally, Q DAO family includes a wide array of stable coins with pegs to other fiat-based currencies such as the JPY (JPYQ), USD (USDQ), SGD (SGDQ), HKD (HKDQ), CNY (CNYQ), RUB (RUBQ). All of them are under the Q DAO brand.

Make sure that you reach out to the project team in Telegram or Facebook. Learn more about the team at LinkedIn.

Anton Dzyatkovski

Anton Dzyatkovski

CEO of Platinum