When: Tuesday, December 20th 2022
Time: 09:00 UTC
Where: InsurAce’s Telegram group https://t.me/InsurAce_Protocol
Host: Dan (@vagrantcrypto)
Speaker: Arvan Halim, Partnerships & Community at Bitrue
Topic: Bitrue introduction, features, Bitrue x InsurAce (what has been done so far), Bitrue Roadmap
Dan:
Please welcome Arvan (@arvanhal23) from the Bitrue Partnerships & Community team who is joining us today!
Arvan:
Hello, InsurAce community! My name is Arvan from Partnerships & Community at Bitrue! Much appreciation to Dan, Jaclyn and the InsurAce team for hosting the AMA. Thanks for having me! I really appreciate it!
We also prepared an Airdrop for the InsurAce Community! So stay tuned and pay attention to the AMA, fellow INSUR supporters!
Dan:
Thanks for the introduction @arvanhal23! Let’s get the AMA started!
Please introduce what Bitrue is in short.
Arvan:
Bitrue is a leading CEX operating since 2018 with a goal intending to provide a trading platform that is simpler, faster, and safer to all crypto investors. Bitrue offers users secure, stable, and efficient financial services regardless of their geographical location or economic status. We pride ourselves on the wide variety of available assets and choices we readily offer, including support for over 1,000 altcoins, almost 2,000 pairs, 100+ Futures options, 200+ leverage tokens, and more.We also support a Yield Farming Hub, which allows investors to earn high returns with a simple setup by staking their crypto assets. Not to forget Power Piggy, our most popular feature for generating a steady stream of passive income. Check out more about Bitrue and sign up on our website: https://www.bitrue.com/user/register?cn=400027
Dan:
Thank you for the introduction to Bitrue! Could you briefly introduce the Bitrue Team?
Arvan:
Bitrue’s team, our team is started by executives from the technology industry who developed a passion for blockchain. Bitrue is now an international team of experts in security, cryptography, finance, and other fields and is spread across offices in the US, Europe, and Asia. Our support staff are available 24/7 to assist with any queries.
Dan:
Wonderful! I see that Bitrue has many passionate people working for it. What are some of the significant milestones Bitrue has achieved to date?
Arvan:
Good question! We have been active through bearish and bullish markets for 4 years and have grown substantially with over 500K Twitter followers,
over 9 million registered users,
2 million monthly active users,
more than 1,000 tokens listed,
trading volumes of 2 billion in spot and 3 billion in futures.
We will keep moving forward over the next several years and welcome more users, projects and partners!
Dan:
Awesome milestones! I hope that Bitrue can reach more goals and major milestones!
And your popular features, as you mentioned previously – Yield Farming and Power Piggy, can you explain more about them and what’s the benefit for the community?
Arvan:
The Yield Farming on Bitrue usually has a higher APY on Bitrue Yield Farming than other staking platforms! All users are eligible to participate in the existing hundreds of Yield Farming pools with up to 200% APY. If whales or HODLers want high returns, it is essential to invest onhttp://www.bitrue.com/yield-farming to get high APYs, easier access, and heightened security compared to other exchanges.The Power Piggy is flexible staking. We have more than 130 Power Piggy opportunities that offer up to 100% APY. This includes flexible staking and lockups for stablecoins (like USDT, USDC, DAI, and BUSD), GameFi tokens (like GMT, SLP, and AXS), DeFi tokens (like SUN, CAKE, and AAVE), MainNet tokens (like ETH, XRP, ADA, and ICP), and Meme coins (like VINU, DOGE, and SHIB).We are on our way to including more high-quality assets in alignment with our staking roadmap, and we welcome eligible quality projects like InsurAce to join us!
Dan:
Why did you decide to list and work together with InsurAce? Can you explain?
Arvan:
That would be really something to tell you! One word: Quality!We have a research team that analyzes quality projects, and InsurAce has shown that they are a project with lots of potential. InsurAce is a decentralized protocol that aims to offer reliable insurance services. The protocol provides decentralized finance (DeFi) assets with flexible and reliable coverage. InsurAce has also established multiple partnerships and investors! The community, the team, coin reviews on CoinMarketCap (CMC) and CoinGecko, and the audit all showed us that this was a project we really wanted to get involved with.
We really hope that we can grow together with InsurAce and bring out the best for the community!
Dan:
Can you explain to our community what they can expect from the listing, will there be any campaigns going on for INSUR?
Arvan:
We are actually going to list INSUR on Bitrue soon! We hope to strengthen the partnership and cooperation between InsurAce and us down the road.
Deposit for INSUR on Bitrue is already available and we actually have a Deposit to Earn campaign going on, so while you’re at it come join the campaign! https://forms.gle/f7SqCYmvzYsQgGqA8
Dan:
Given the recent FTX collapse, what has Bitrue done to reassure its users and ensure the safety of assets on the exchange?
Arvan:
At Bitrue, we prioritize the safety and security of our user assets. Being one of the world’s leading cryptocurrency exchanges, we have dedicated time and resources into ensuring that our platform is safe and secure for everyone. With the recent collapse of rival exchange FTX and numerous hackings in cryptocurrency, safety has become a paramount issue for the cryptocurrency community around the world. We therefore felt that it is important that we highlight how Bitrue protects your funds and how you can keep your funds safe.
Safety and Security of Funds
Cryptocurrency exchanges typically store user funds on hot or cold wallets. Hot wallets are linked to the web with the intent of liquidity as they have the benefit of facilitating fast trades. In contrast, cold wallets are held offline thereby protecting the wallet from unauthorized access, cyber hacks, and other vulnerabilities that a system connected to the internet is susceptible to. Most cryptocurrency exchanges offer an easy and simple wallet solution to buy and sell cryptocurrencies.
At Bitrue, only a small portion of our funds are held in hot wallets for liquidity purposes while the rest are held in multiple cold wallets for secure storage. This ensures that the majority of our funds will not be easily compromised in the unlikely event of a hacking incident.
Further to that, our exchange has also established a fully transparent insurance fund that can be accessed by users publicly. With the establishment of an insurance fund pool, wallets are now multisig and contain within them are a number of assets that exceed the value of the coins that remain within our hot wallets at any given time. The insurance fund is intended as a 1:1 collateral used to reimburse users in the unlikely event of a hacking incident.
Lastly, Bitrue remains a conservative asset focused on providing the best products and services for our users. As an exchange, we do not participate in risky investments or take out loans hedged against our own token. We will not do anything with the assets of our users unless they ask us to. All user resources are kept safe and secure.We also have already release our statement to address the issue here:
And Binance covering our insurance funds on Binance Feed as prove that we are committed to the safety and security of our users:
:https://www.binance.com/en/feed/post/49683
Dan:
Here’s hoping that Bitrue and InsurAce will grow together! Can you please share links to your community so we can get involved?
Arvan:
Definitely, would be more than glad to share! To learn more about Bitrue, we recommend you check out our following links, don’t forget to support and drop a follow to stay updated about what is happening on Bitrue!
Bitrue Homepage – http://www.bitrue.com
Register on Bitrue – https://www.bitrue.com/user/register?cn=400027
Twitter – https://twitter.com/BitrueOfficial
Telegram Community – https.me/BitrueOfficial
Telegram Announcement – https://t.me/Bitrue_official
Reddit – http://www.reddit.com/r/BitrueOfficial
Medium – https://bitrue.medium.com
Also, I am going to host an AMA session for InsurAce later on the 22nd December on Bitrue’s Telegram group, stay tuned and come join the AMA session!
Dan:
Thank you for sharing! And we are on to the last questions, about Bitrue’s expansion plans, what is next for Bitrue?- how do you see Bitrue in the next 5 years?
Arvan:
Bitrue is definitely expanding and we look forward to serving other countries that are outside our list at the moment. With steady growth within our headquarters and international team, we are building strong foundations internally and externally.Within the next 5 years, confidently saying with the current average growth that we are having in the platform, becoming one of the Top 10 Biggest Exchanges by volume will be a realistic target for Bitrue.
Dan:
Cheers and good luck to Bitrue! Are there anything else that you would like to add?
Arvan:
As mentioned earlier, we have a Deposit to Earn campaign for the InsurAce community! So while you’re at it, come and join the campaign! Don’t forget to follow the steps on the form, complete the form, and earn $INSUR Tokens! https://forms.gle/f7SqCYmvzYsQgGqA8
Also, we are having a giveaway for the AMA. Don’t forget to complete the form and choose the correct answer to be eligible to participate! If you miss the answer, scroll up and be sure to read the AMA 😉 https://forms.gle/wxdyaAXuFhbgjUFj7 And if you are interested in being our partner, we can offer special commission rewards. For more information, you can check http://www.bitrue.com/act/kol .
Dan:
And that’s it for today! That’s a wrap for our AMA session. Once again, thank you, @arvanhal23 for joining us today! Do you have any final comments that you want to say to the community before we end the session?
Arvan:
Thanks for the opportunity! We really appreciate the chance to connect with you guys! Thank you for hosting the session as well, Dan! And for the community, ask away if you have any questions! I will try my best to answer them 🙂 Have a great day, and take care, everyone!
Dan:
The chat will be open for everyone now!
Community questions:
1. What is the process of opening and verifying an account with Bitrue?
Arvan:
Hello, you can register on Bitrue at https://www.bitrue.com/user/register?cn=400027
After registering, you can go ahead and do the KYC process in the user’s settings, in KYC process you have to fill in your basic information and providing some documents. Do note that you don’t have to do KYC in order to trade!
2. Can you tell me? What’s your main focus right now, are you focused on the community or market/Exchange or the products?
Arvan:
Hello, our main focus for now would be to bring the best asset for our users, and we also want to make sure that our user’s funds are safe on Bitrue!
3. Good AMA , By the way,. How does Bitrue provide a proof of reserves to users?
Arvan:
Hello, that is a good question, kudos to you!
We are currently on the progress of doing so, we Bitrue has been working closely with our partners to provide our audited proof-of-reserves. A third party will conduct this independent audit to ensure. Once it’s done, we are going to release an official statement!
Moving forward, We are committed to doing so annually to ensure that Bitrue can meet the strictest standards for all related responsibilities.
Bitrue has always placed customer safety and security at the core of our operational values. We are the first cryptocurrency exchange to establish an insurance fund with XRP- and BTR- denominated funds. You can check the article here 😉
https://bitrue.zendesk.com/hc/en-001/articles/360049715433-Bitrue-s-New-Insurance-Wallet-Is-Live
4. Love to see InsurAce on the Bitrue as indeed its one of the most well recognised exchanges on the market. I would like to ask if Bitrue community have any voting opportunity on with projects/coins are joining your platform ?
Arvan:
Hello, good question! We actually have a new weekly voting system to bring in quality projects to our platform! Check out our Twitter to gain more info about it!
Dan:
Alright, we’re running into the last few minutes. Thanks for answering these questions @arvanhal23
It’s looking like Bitrue and InsurAce will grow together!
Let’s wrap up with a last quick question…
Can you please share links to your community so we can get involved?
Arvan:
Sure thing Dan!
To learn more about Bitrue, we recommend you check out our following links, don’t forget to support and drop a follow to stay updated about what is happening on Bitrue!
Arvan, [20/12/2022 9:54 AM]
Bitrue Homepage – http://www.bitrue.com
Register on Bitrue – https://www.bitrue.com/user/register?cn=400027
Twitter – https://twitter.com/BitrueOfficial
Telegram Community – http://https.me/BitrueOfficial
Telegram Announcement – https://t.me/Bitrue_official
Reddit – http://www.reddit.com/r/BitrueOfficial
Medium – https://bitrue.medium.com
Also, I am going to host an AMA session for InsurAce later on the 22nd December on Bitrue’s Telegram group, stay tuned and come join Bitrue’s Telegram group to join the AMA session!
@vagrantcrypto looking forward to have an AMA session with you again Dan! 💪
Dan:
Yeah I’m excited to see what questions your community comes up with for me. Before we go, anything else you’d like to add?
I’m sure the community would like to hear about the AIRDROP that you teased us with earlier…
Arvan:
Oohh Airdrop, this is what you guys have been waiting for!
We are having a giveaway for the AMA. Don’t forget to complete the form and choose the correct answer to be eligible to participate! If you miss the answer, scroll up and be sure to read the AMA 😉
https://forms.gle/wxdyaAXuFhbgjUFj7
And as mentioned earlier, we have a Deposit to Earn campaign for the InsurAce community! It’s a combo with the AMA giveaway, so while you’re at it, come and join the campaign too! Don’t forget to follow the steps on the form, complete the form, and earn $INSUR Tokens!
https://forms.gle/f7SqCYmvzYsQgGqA8
Dan:
Love a cheeky airdrop. I’m sure everyone will appreciate more opportunities to earn with their INSUR.
Arvan:
Ohh and if you are interested in being our partner, we can offer special commission rewards. For more information, you can check http://www.bitrue.com/act/kol
Dan:
That’s a wrap for our AMA session. Once again, thank you, @arvanhal23 for joining us today!
Excited for the listing of $INSUR on Bitrue.
