How to Use Liquid Bitcoin on BTSE

Updated: Dec 6, 2019


Bitcoin is the undisputed king of the cryptocurrency industry, boasting over 157 billion dollars in market cap and 22 billion dollars in trading volume at the time of writing. On the immutability, censorship-resistance and decentralization fronts, no competitor even comes close.


On the 11th of October, 2018, sidechain-based settlement network Liquid was launched to enable fast, confidential and secure transfers pegged to the Bitcoin blockchain. BTSE now allows you to take advantage of all the benefits that this new technology brings to the industry.


BTSE treats both L-BTC and Liquid USDt exactly as it would BTC/USDt, but with the additional advantage of fast transactions, confirmation time, and finality. If it’s fast settlement or privacy you require, Liquid Bitcoin is an option worth considering.


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*Wallet balances shown in the image are not real funds. They are from the BTSE testnet. Try it out!


Wallets


In order to view your BTC wallet, click on the Wallets tab on the top of the exchange’s interface. You are then able to view all of your wallets. These include your spot fiat currencies and cryptocurrencies, such as BTC, as well as your individual trading product wallets.


Withdraw/Deposit BTC Using the Liquid Network


You can withdraw your BTC from your spot wallet to wallets with Liquid integration – a popular offering is Blockstream Green. First, transfer your BTC to your spot wallet, and from there, you can withdraw your desired amount of BTC from the exchange and into your wallet of choice.

In order to withdraw your BTC, click Withdraw, then select Liquid below the field Blockchain to send on. Finally, enter the L-BTC address that you want to send your Liquid Bitcoin to.


Note: The address you enter must be a Liquid Bitcoin address. Otherwise, you may be at risk of losing the funds you’re sending. We strongly recommend you copy-paste addresses instead of attempting to enter them by hand. It is also wise to double-check that the L-BTC address you entered matches your desired withdrawal address. BTSE is not responsible for any lost funds.

To deposit L-BTC, first, click on Deposit next to your BTC spot wallet balance. Then, click on the dropdown menu next to Blockchain to send on and select Liquid. Finally, use the Liquid Bitcoin address provided in order to deposit Liquid Bitcoin from your wallet to your BTSE account.


Remember: as with withdrawals, make sure you only send Liquid Bitcoin to this specific wallet. Failing to do so could result in the complete loss of your funds.


Trade Liquid Bitcoin on BTSE


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