Btcsquare Review | Is It Safe or a Scam?

Is Btcsquare safe? Read in our detailed Btcsquare review

Btcsquare.net Review 2021 from Field Specialists

Today we will look at the next trading platform on our list - BTCSquare. It is included in the TOP-100 of the largest exchanges in terms of cryptocurrency trading volume. BTCSquare claims that it offers the lowest fees and no KYC. is it really so? We also have some other essential points to discuss.

Features of the Platform

BTCSquare is the world's leading digital asset trading platform focused on cryptocurrencies: Bitcoin, Ethereum, Dash, Litecoin, ZCash, etc. It was founded by blockchain enthusiasts and the core team is renowned technology companies.

BTCSquare is committed to providing blockchain users with secure and convenient investment channels. 

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Features:

   - Scalable HDM Wallet

   - Intelligent exchange services

   - Real-time accounting and transaction processing engine

Benefits:

   - Open and transparent market information

   - SEC audit system

   - Professional and meticulous customer service

   - Advanced technological architecture

   - Safe and stable trading environment

   - Low fees

   - Opening a deposit is free

The withdrawal fee is different for each coin. For more information, see the "Fees" section on the official website of the exchange. The daily withdrawal limit is 1 BTC. However, after passing the verification, the daily withdrawal limit will be raised to 50 BTC.


Sign In 

Go to the registration page, which is https://www.btcsquare.net/registration. Remember a risk warning, typical for most of the crypto exchanges. Read terms and conditions first. Scroll down and tick the boxes, agreeing to the risks. You also need to confirm that you are neither American to take part in the exchange process.

The registration form opens so that you can fill it out:

   - Specify Email - it is best to use email address or Google account, as it is considered the most reliable method;

   - Click further, and you will be sent an email with a confirmation code. Just copy it. Enter the code from the letter in the corresponding field.

   - Coming up with a password. It must be complex, containing upper and lower case letters, numbers, special characters, etc.

   - Repeat password

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Done! You are registered on the BTCSquare exchange. Then go to the exchange using your username and password.


Verification

Verification (identity verification) is required to prevent fraud and keep the community safe. Verification also adds an extra layer of security.

   - In addition, after passing the verification, you can withdraw up to 50 BTC per day.

   - To pass verification, click on the "Click to verify" button opposite the "Identity Verification" section.

   - To pass the verification, the system offers to download a mobile application - only with its help you can confirm your identity.

   - After loading the application, go to the account and click on "Identity Verification". The form of verification opens.

   - Select your gender, nationality, enter your first name, surname, select the type of document for verification, and enter its number. Next, you need to upload a passport photo and a selfie with a passport.

The verification process may take some time. Until your identity is verified, you can withdraw up to 1 BTC daily.


Deposit of Funds

There are two options to fund your account:

Option 1. If you have cryptocurrency in your digital wallet.

Then everything is simple:

   - Go to the "Deposit" section.

   - Select the required currency to enter

   - Click "generate a new address"

Further:

   - Copy the address of the digital wallet or read the QR code

   - Paste the copied address into the "Beneficiary's address" column where we want to transfer funds

After you have completed all the steps to transfer funds, wait for them to get to your wallet on the exchange.

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Option 2. If you don't have cryptocurrency

In this case, the algorithm for your actions is as follows:

Choose the cryptocurrency you want to have (e.g., Bitcoin or Ethereum). Create a digital wallet for it.

It may be a cold wallet, but it will need to be downloaded from the official website of the coin, installed and synchronized. Please note that such a wallet can be quite heavy and the synchronization process also takes some time.

There is also a web wallet. It is more convenient than a cold one, since it does not need to be installed and synchronized. However, since this is a regular website, it is easier to hack - in other words, the web wallet is not very reliable. 

Many coins have a mobile wallet - it is convenient as it is an application for your smartphone or PC. You can quickly and easily check balances and complete transactions.

There are hardware wallets - special USB drives, but they are not suitable for all coins.

There are many different digital wallets, and it is up to you which one to choose. 

Buy Cryptocurrency with Fiat Money

   - Enter fiat on the exchange (rubles, dollars, euros, and any other state currency).

   - In the trading section, create a trade order - for example, buy BTC for euros.

   - Wait for someone to execute your order.

   - Withdraw the purchased cryptocurrency from the exchange to the digital wallet you have created (in the Withdraw section, indicate the amount in the cryptocurrency that you want to withdraw and the address - either a created digital wallet, or directly to the BTCSquare exchange)

   - Wait for the specified number of coins to arrive in your digital wallet

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Withdrawal of Funds

Remember that you need to set up 2fa to withdraw funds. To withdraw funds from the exchange:

   - Click on the "Withdraw" section

   - Selecting the required currency to enter

   - Click "add new address" (or choose where to display if you have already added your wallet address)

Further:

   - We write the address of the wallet to which the coins will be transferred.

   - We indicate the number of coins for withdrawal.

   - Write code from 2fa.

   - Click "Submit."


Buy Cryptocurrency

To buy cryptocurrency, you need to follow 3 simple steps:

Step 1. Choose a trading pair

To do this, on the left side of the bidding page, select one of the proposed pairs.

Step 2. Select an order

A trade order on the BTCSquare exchange can be:

Limit price - you set the price for the coin, that is, the order with the price you set will be in open orders until the market price rises to its level and someone does not execute the order.

You can set a higher price if you are sure that the rate of the sold currency will rise. In this case, it is beneficial, since you can set the price and leave to go about your business and not follow the state of affairs on the market.

Market price - the market price is set by default. Most often, such orders are executed very quickly.

We select the order you need and proceed to the next step.

Step 3. Fill out the "Buy" form

Let's give an example of filling out a limit order:

We set the price of ETH in BTC, that is, how many Bitcoins we are willing to pay for 1 Ether.

We expose the number of coins (ETH) that we want to buy.

Click "Buy"

A trade order has been created - it remains to wait for its execution.

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Output

The BTCSquare trading platform is quite popular as it is considered one of the most reliable cryptocurrency exchanges on the market, as well as due to its large daily trading volume.

We recommend the BTCSquare platform for trading cryptocurrency for both beginners and experienced traders, since the interface is quite simple and intuitive (+ we have made detailed instructions for you on how to carry out basic operations on the exchange), and you can also choose the type of order, which is pretty good.

We remind you that it is better not to store your assets on the exchange, because no matter how protected the exchange is, there is no guarantee that it will not be hacked and your funds will not be stolen. Therefore, store your tokens on cold wallets (they are the most reliable) or on any other digital wallets - we talked about them just above.



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