BTSE Token

Halal Rating :
Comfortable
Last Price $0.60 Last updated:
Rank 1563
1D Change 0.00 %
Market Cap $2.62m
Circulating supply 4,354,711
Maximum supply None

Crypto Overview

Categories
  • Centralized Exchange (CEX) Token

Overview

BTSE Token is the native utility token of the BTSE cryptocurrency exchange platform. It was created to enhance the functionality and user experience of the BTSE ecosystem.

Purpose and Utility

The primary stated purposes of BTSE Token include: reducing trading fees on the BTSE exchange, providing governance rights for platform decisions, and serving as collateral for certain platform features. Users who hold BTSE tokens can receive discounts on trading fees and access premium features on the exchange.

Business Model Analysis

The business model appears straightforward and transparent. The token's utility is primarily centered around the BTSE exchange ecosystem, which operates as a standard cryptocurrency exchange. The platform does not inherently involve prohibited activities like gambling or interest-based lending.

Adoption and Usage

The token is actively used within the BTSE exchange ecosystem, primarily for its fee reduction utility. While trading volume and adoption metrics are relatively modest compared to larger exchange tokens, this does not impact its Sharia compliance assessment.

Development Activity

BTSE regularly updates its platform and services, showing active development and maintenance of the ecosystem in which the token operates.

Token Distribution

The token distribution appears relatively standard for an exchange token, with allocations for the team, platform development, and public circulation. While specific vesting details are not widely published, this alone does not raise significant concerns from a Sharia compliance perspective.

Crypto Impact

To assign a comfort level investing in BTSE Token from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to BTSE Token.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

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Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.

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