BTSE's Withdrawal Methods: Same Asset, Different Chain
The BTSE Exchange offers a wide range of withdrawal options for your digital currencies. Some assets, including Bitcoin and Tether, are issued using various protocols and thus have options for different withdrawal methods. Let’s take a quick look at how these function.
First, you’ll need to navigate to your wallets from the drop down menu in the top left hand corner of your screen.
This will take you to your wallets screen, where you will see “Withdraw” as one of the menu items. Notice once again there is a drop down menu available.
Upon clicking the arrow, you are shown a menu of every asset available for withdrawal from the platform.
Bitcoin can be dealt with and held on both the main Bitcoin blockchain, as well as through the Liquid Network sidechain. Liquid Bitcoin (L-BTC) is pegged 1:1 with Bitcoin locked up on the main chain. As such, BTSE offers two mechanisms of withdrawal here with a simple clickable toggle. Choosing “Bitcoin” will allow you to withdraw to any Bitcoin address (typically beginning with a 1, 3 or bc1). Clicking “Liquid” will allow you to withdraw to a Liquid-enabled wallet like Blockstream Green, and provide an L-BTC address (starting with a V).
When withdrawing USDt (Tether), you are also presented with a variety of options. Tether has been issued on Omni Layer (a token protocol built atop Bitcoin), as an ERC-20 token (the Ethereum-based token standard), and on Bitcoin’s Liquid Sidechain. By choosing each option you can withdraw Tether to an Omni Wallet, any Ethereum address, or any Liquid wallet address.
Learn more about the Liquid Network here.
Learn more about the Omni Layer.
Learn more about the the ERC-20 Token Standard.
If you have any feedback on this or any other topic, please feel free to reach out to us at any time at email@example.com or @BTSEcom on Twitter. We always love to hear from our amazing BTSE community.