Bitexen cryptocurrency exchange is a centralized exchange built with the purpose of creating a global solution that meets all traders' needs. The project was launched by Bitexen Technology, headquartered in Istanbul, Turkey, on May 4, 2018.
The platform is built with the Turkish market in mind. Thus, the Bitexen crypto exchange only allows users with Turkish phone numbers to sign up. This is an important aspect of the KYC verification process employed by the exchange. Furthermore, uploading a government-issued identity card grants more access to the services provided by the exchange.
There are 3 major markets on the platform – TRY, USDT, and BTC. TRY, which stands for the Turkish Lira is the only approved fiat currency for deposits and withdrawals on the Bitexen cryptocurrency exchange. BTC and USDT pairs are tailor-made for crypto-to-crypto trades, while trades made with the TRY pairs are crypto-to-fiat trades. As of January 2023, there are over 55 Bitexen trading pairs. Some of the major currencies that can be traded on the platform include ETH, ADA, XRP, BCH, and more. It is expected that as the Bitexen volume increases, more coins will be added to the list of available assets. Overall, the Bitexen spot is built to accommodate all the trading needs of its users. The platform does not currently offer derivatives or futures trading.
The Exen Coin, or BTXN, is the native token of the Bitexen crypto exchange with a set of utility functions. It was launched in August 2018 with a maximum token supply capped at 15 million BTXN. All coins are distributed to users as rewards for registration and through various loyalty campaigns, including trade competitions. Holding BTXN grants its holders with discounts and refunds on Bitexen crypto fees paid on the exchange.
In terms of Bitexen exchange fees for trading, makers pay 0.15%, while takers are charged 0.25% per trade. However, users are eligible to receive a 10%-50% fee refund depending on the amount of BTXN they hold. For instance, users who hold 10 BTXN get a 10% refund while those who have 50 BTXN can enjoy a 40% refund of the commission they paid. Half of each transaction fee is used to repurchase and burn BTXN. This buyback process will continue until the number of BTXN coins in circulation is zero. The rest of the fees go to the Bitexen crypto exchange treasury.
Bitexen crypto price for deposits and withdrawals is determined by the currency and the blockchain in question. All fees from BTXN withdrawals are spent on the Ethereum network in quarterly buybacks. It is possible to deposit both cryptocurrencies and fiat money to the platform. Fiat transactions can be made through wire transfers and credit cards. To make depositing and withdrawing funds to the platform seamless, Bitexen has integrated its system with a number of Turkish banks.
Bitexen cryptocurrency exchange has a feature that allows converting cryptocurrency and Turkish Lira balances below the minimum order limits to BTXN.
Additionally, users can transfer funds from their Bitexen account over the network and to the wallets registered on the platform with the Internal Transfer feature. In this case, they do not have to wait for network confirmation and pay network fees.
The trading experience is also enhanced with the feature that allows users to make use of stop-orders and quick buy-and-sell options.
Furthermore, the platform has a referral program for its users. Users and their friends who register through the referral link get 1 BTXN each.
Lastly, the Bitexen crypto exchange provides a range of solutions for startups who wish to create digital tokens. Though when it comes to listing new coins, the exchange accepts only tokens of reasonably ambitious and competent projects. This is done after receiving approval from the community.
About the Company
Bitexen cryptocurrency exchange founders and developers are of Turkish origin. This team of brilliant engineers and bank professionals possess deep knowledge and experience in derivative instruments, payment systems, information security, business development, management, and more. Together, they combine these experiences and skills to build Bitexen.
Yahya Tugyan is the partner and CEO of Bitexen. Ebru Elmas Gurses, armed with years of finance, tax, accounting, and audit, is the CFO. He previously worked in transaction services and angel investment industries. Gizem Dinçer is responsible for customer service. He also works as a digital customer advisor at Enpara.com.
Other team members include Berkan Vatansever, an operational specialist, Ezgi Karasu, a team leader, Ertuğrul Avcı, a marketing manager, Ebrar Bayır, a quality control specialist, and Elif Ezgi Tarım, a social media and complaints management specialist at Bitexen.
As of January 2023, the 24-hour Bitexen trade volume ranges at around $41 million.