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2016-03-23

In the modern world, Internet technologies are becoming increasingly popular. First of all, this concerns cryptocurrency, especially Bitcoin. Financial analysts confidently claim that Bitcoin will soon become a global currency that will have no boundaries: the cryptocurrency is easy to use and is not controlled by government agencies. In the famous Silicon Valley (USA), billions of dollars are invested in the development of bitcoin exchanges, and the largest trading networks are attracted.

One of the online platforms that specialize in exchanging fiat currencies (dollars, rubles, etc.) for bitcoin online is VTS-e. This exchange was founded in 2011. It developed so rapidly that in just a few years the service became one of the largest cryptocurrency exchangers in the world: in terms of volumes of exchanging dollars for bitcoin, VTS ranks third, and in terms of exchanging rubles for bitcoin – first place. Transactions worth more than 10 thousand bitcoins are carried out here per day.

Some financial online publications say that VTS uses the services of third-party banks, one of which is located in the Czech Republic. The company is registered in Bulgaria, and the head office is located on the island of Cyprus. The founders of the company are programmers from Russia. It is worth noting that the exchange website does not contain information about the registration of the company, and the legal jurisdiction is not indicated either.

The position of the Russian authorities in relation to WEX (VTS-e)

The official position of the Russian authorities on military-technical cooperation (and on bitcoin in principle) has not been defined. Officials have not yet made a clear decision. However, in January 2020, Roskomnadzor blacklisted the VTS-e exchange The basis was a somewhat dubious decision of the Nevyanovsky City Court (Sverdlovsk Region). However, no one officially prohibited the exchange from operating. Since no one canceled the mirror, after 3 hours the exchange again became accessible from Russian IP addresses on the .nz domain. Therefore, any user can easily exchange btc-e for banks or rubles.

What to expect?

The accounts of the BTS-E exchange on social networks are full of information that technical work is underway on the site and within 5-10 days the exchange will work again. However, most “experienced” traders are sure that this is just a “duck”. Experienced users are advised not to store earned funds on third-party resources . It is better to do this on your own computer or on other electronic media.

What outcome can we expect in this story? Hard to tell. Perhaps, as a result of such situations, the popularity of cryptocurrencies will decrease significantly. However , it has been noted that after the liquidation of some resources over the past few years, interest in Bitcoin and its alternative units has only increased .

On my own behalf, I would like to add that the arrest by the US authorities of Alexander Vinnik , who has already been officially announced as the administrator of the BTS-E exchange , does not bring anything good. All of you, my dear readers, know well that the US Department of Justice is far from being a court of some district in an unknown area in the vast CIS. These guys won't just let go. Moreover, the statement by the American authorities refers to the laundering of funds belonging to criminal syndicates and terrorist organizations through BTC-E. Knowing the “ fascination ” of the United States with threats to national security, the attitude towards every ruble, dollar or other currency in user accounts will be, at a minimum, very biased and, unfortunately, traders will most likely not be able to return their funds .

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Published: July 29, 2020 at 12:14 pm

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Main features of WEX

Trading through the MT 4 terminal

BTS-e provides its clients with the opportunity to carry out trading operations using the MT 4 terminal. This feature is the main advantage of the exchange, since MT 4 is one of the most popular and effective platforms for automatic trading.

What capabilities does the terminal provide? With its help, trading operations are carried out, programs for automatic trading are created and used, and market dynamics are analyzed.

Trading using PAM accounts

You can also trade on the exchange using PAM accounts. This makes it much easier to make money from cryptocurrency rate fluctuations. If the client does not have time to track the exchange rate, read analytical articles and understand the features of trading, then he can use the strategy of one of the experienced traders (providers).

This is also beneficial for the provider: he will be able to earn money not only from bitcoin trading, but also from his experience and knowledge. To do this, the trader must open an offer, indicating the amount of the offer and the reward.

Internal codes: transfer of funds without commission

The internal BTC-e code allows exchange clients to transfer their funds (both in fiat currency - dollars, rubles, euros, and in cryptocurrency) to other exchanger accounts or receive funds from third-party users. You can also send money to other services (if there is a need to exchange bitcoin for any electronic currency, or you can use our electronic money exchanger). In this case, no commission is charged.

Attention! It is necessary to make sure that the BTC code is not known to anyone except the person to whose account the funds will be transferred. Otherwise, you may become a victim of scammers. If an attacker receives the codes, the exchange will not be able to liquidate the transaction or return funds stolen from the account.

To create a BTC code, you must do the following:

log into your profile on the exchange;
click on the “finance” button;
select currency;
press the “withdraw” button;
select a BTC code from the pop-up list (or create a new one).

You can withdraw from 1 cent (kopeck) or from 1 cryptocurrency coin.

To top up your BTS account, you need to follow this algorithm:

log in to your profile;
click the “finance” button;
enter the BTC code and click on the Redeem button.

The money will be instantly credited to the user's account.

Ability to work on Android

To earn more money, you need to constantly monitor the exchange rate and not miss the opportunity to profitably sell or purchase currency. But sitting at a computer 24 hours a day is simply impossible! And here phones or tablet computers with the Android operating system come to the rescue. By installing a special application on his mobile phone, the client will be able to view exchange chats, stay in touch with partners and friends and be aware of everything that is happening at the auction.

The following programs are recommended for working with VTS-e on Android:

BTC-e.com Trader Client (fast, stylish and convenient program, which includes all currency pairs of the service);
BTC-e client (using this application, clients conduct trading operations);
BTC-e Assist (this program allows you to trade on BTC-e, receive notifications, view chat and news and register multiple accounts).

All programs have a Russian interface.

The BTC-e exchange closed by the US authorities is preparing to restart on September 1

The BTC-e exchange, which was closed by US authorities in early August, is preparing to restart. Exchange representatives reported this on the BitcoinTalk forum. According to them, at the moment “the process of transferring digital resources to an investment company is underway,” its name has not been disclosed. According to updated information, the restart is scheduled for September 1.

The company claims that the FBI seized all its servers, but they were encrypted and all information was retained by BTC-e representatives until the moment the exchange fell. There is also a hint about the political reasons for closing the exchange:

We want to notify all users that there are political reasons for closing our service and pressure from the United States.

BTC-e confirms that 55% of funds in tokens are available for withdrawal, and a team of lawyers is working on gaining access to fiat currencies. The remaining 45% of funds in user accounts are converted into tokens, which can be “sold on the market or wait until we buy them from you at par.”

All coins received before August 1, 2020 will be credited to your account.

There will be tokens for each coin, and free trading will open for them. Bitcoin Cash tokens will be credited to Bitcoin holders on a 1:1 basis. The amount of payments to users will depend on the exchange rate on the date of conversion, but this date has not yet been determined.

In addition, to withdraw funds, you will need to undergo verification, which involves two levels. The first level does not require verification, but has a limit and limitation for some payment systems. At the second level there will be access to all payment systems and an increased limit. It will be possible to verify several accounts that were on the exchange at one time.

Access to trading will be provided without verification.

The investment company is currently training employees. It is planned that verification will take place within 24 hours, unless there is an abnormally large influx of applicants. An express verification option will be available.

As for funds from MT4, according to BTC-e, they “have been credited to user accounts, the closing date of positions is 07/25/2017.”

Further clarifications about the launch of the exchange and the return of funds are expected from August 30 on a daily basis.

Let us recall that on August 3, the BTC-e exchange announced the seizure of its fiat accounts. On August 9, the company published the first version of its plan to return funds to affected investors, and on August 14 it came out with a new plan.

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The material was prepared by the editors of the website “Mining Cryptocurrency”, consisting of: Editor-in-Chief - Anton Sizov, Journalists - Igor Losev, Vitaly Voronov, Dmitry Markov, Elena Karpina. We provide the most up-to-date information about the cryptocurrency market, mining and blockchain technology.

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BTC-eCryptocurrency exchangesRegulation and legislation

What is an order

All exchange transactions on the BTS-e exchange are carried out on the basis of orders. These are documents that confirm the user’s desire to conduct an exchange operation. The order stipulates the conditions under which trading must be carried out and indicates the type and number of title units.

The order indicates its focus, volume, and amount of the insurance premium. Only if all these details are available, the order will be registered on the service.

Orders are valid until trading operations are carried out on them (except for those cases when traders withdraw the order).

You can submit an order from any device on which Internet Explorer (or any other Internet browser) is installed.

The trader can cancel (recall) or change those orders that have been registered, however, operations on them have not yet been performed. To do this, the user must enter the appropriate instructions using special interfaces.

Bitcoin exchange BTC-e

At the moment, the Bitcoin exchange VTS-e occupies a worthy place among the five largest platforms in the world specializing in cryptocurrency trading. Among Russian-language exchanges, VST-e is the largest. The exchange was created in mid-2011. Already in 2015, its daily turnover was about 12.5 thousand BTC. The main bank with which the trading platform cooperates is located in the Czech Republic. The exchange itself is registered in Bulgaria, and the company that manages it has placed its assets on the Cyprus market. At the same time, the founders of VTS-e are indeed programmers from Russia, who, by the way, at one point in their lives worked in Skolkovo. Trading bot "MetaTrader 4" belongs to BTS-e. The site has Russian, Chinese and English chats. Identity confirmation is not required during registration.

How trading is carried out on the VTS-e exchange

To begin a trading operation, the client must place an order indicating a specific currency value. The exchange must be completed within a certain period of time. If the transaction does not occur, the funds are returned to the user’s account (a commission is charged) or the cryptocurrency is sold at the rate that is currently offered.

To complete a transaction, confirmation from the service administration is required, which arrives within 60 minutes. During this time, significant exchange rate fluctuations may occur.

The BTC-e cryptocurrency exchange has changed its domain to WEX.nz and is already trading

The BTC-e cryptocurrency exchange, which closed in July, has relaunched on the WEX.nz domain and is already trading.

https://t.co/lNhIxs51dg let's go trade! subscribe to @WEXnz for future updates.
— BTC-E (@btcecom) September 15, 2020

The familiar design of the exchange website has undergone virtually no changes, only instead of the old logo, users are greeted with a new name.

“We thank the ex-BTC-E users for their patience. For our part, we spent a lot of effort and energy to create a new trading platform in the shortest possible time. Our platform will conduct its activities in accordance with AML/KYC laws and global practices in this area,” says WEX in a statement.

The administration of the exchange notes that it did not in any way come into contact with or take over the funds of the BTC-E Always Efficient LLP company.

In addition to the transferred balances, each user was awarded bonus crypto tokens in the amount of 61.79/38.21 (%), information on which is available at https://wex.nz/tokens. These tokens will be available for trading and use through wex-code.

It is also noted that for general safety, in the first 3-7 working days the site will operate in test mode in order to check the operation of all units. Daily limits will be set for withdrawal of funds (information about them is available in the account profile), and in the future they will be increased. At the end of the test period, the site will operate without restrictions.

According to WEX, the exchange has signed a cooperation agreement with a network of verified exchange services (agents), which will allow you to deposit and withdraw USD/EUR/RUR with minimal commissions in a convenient way in different parts of the world.

List of official partners currently working with WEX:

https://100monet.pro/
https://ultrachange.biz/
https://jojo.cash/
https://www.advcash.com/
https://perfectmoney.is/

List of WEX-code I/O options available through a network of agents/partners:

Webmoney
Yandex money
Qiwi

Amounts over 10,000 USD, as well as Sepa/Swift from 20,000 USD can be withdrawn using the VIP section https://wex.kayako.com

Banks:

Sberbank
Alfa Bank
Tinkov
Privat24

Cash:

Russia: Moscow, St. Petersburg, Yekaterinburg and other million-plus cities, as well as regional delivery
Ukraine: Kyiv, Kharkov, Odessa, Lviv + delivery
Belarus: Minsk + delivery
Kazakhstan
China
Thailand
Hong Kong
Macau
Europe

Also, about 20 exchangers are currently in the verification process.

In addition, WEX declares active work on the development of such areas as investments, trading, arbitration, consultations, mining, ICO, and exposing pyramids.

“We believe that blockchain will change the future, become an alternative to the current corrupt financial system and unite people around good economic goals,” the exchange added.

Rate this publication

The latest news on the cryptocurrency market and mining:

Cloud mining of Bitcoin in 2020 - how to choose a reliable and profitable service?

Kraken Report: Bitcoin on the verge of “great adoption”, BTC price will rise by 50-200%

Bitcoin enters mega bull phase with over 93% of BTC addresses showing profits

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The following two tabs change content below.

Author of the material
Latest news from the world of cryptocurrencies

Mining-Cryptocurrency.ru

News Mining-Cryptocurrency.ru (go to all news feed)

Cloud mining of Bitcoin in 2020 - how to choose a reliable and profitable service? — 08/14/2020
Kraken Report: Bitcoin is on the verge of “great adoption”, BTC price will rise by 50-200% - 08/14/2020
Bitcoin Enters Mega Bullish Phase, Over 93% of BTC Addresses Show Profit - 08/14/2020
Anatoly Aksakov commented on the adopted law on cryptocurrency in Russia - 08/14/2020
Platform for centralized management of the cryptocurrency mining process CoinFly - 08/14/2020

Cryptocurrency exchanges

Insurance (security) contribution

Exchange users pay insurance premiums. This is necessary in order to guarantee the fulfillment of obligations on orders that were placed by traders for the exchange of currencies. Clients transfer money to a VTS-e account, and the user independently sets the amount of the insurance premium.

The exchange will return the security deposit to the client if:

the user will cancel the submitted order (part of the funds for which the order has not yet begun is returned);
the order has expired and the interests of all participants in the exchange transaction have been satisfied (in this case, the insurance premium will be returned to the client in full).

About security

Bitcoin is a secure technology based on privacy and data encryption. The funds that the user deposited into his BTC account are safe: the money is saved in wallet files on the client’s personal computer. It must be remembered that these files must be hidden from unauthorized persons.

If the scammers managed to somehow gain access to the account, the client can use the functionality to confirm the withdrawal of funds via email. Once the functionality has been confirmed and its operation has been verified, transaction notifications will be sent to your email address. The exchange administration recommends using different passwords to enter your mailbox and BTS-e profile. It is also worth using the gmail.com email service, which provides two-factor authentication.

The service does not provide any information on its clients’ transactions to strangers. It happens that third parties demand that the support service suspend the admission of one of the users to participate in trading and make transactions, citing, for example, complaints against this user. However, demands made by strangers are not grounds for limiting the rights of the account owner.

About blocking Bitcoin exchanges

And while officials are discussing what to do with bitcoins, some Internet providers have already begun to block the exchanges on which they are traded. This happened after a decision by Roskomnadzor based on a very dubious decision of the Nevyanovsky City Court of the Sverdlovsk Region, which was later cancelled. But, alas, some exchanges, for example btc- e. com, are still not working, although there is no official ban on Bitcoin in Russia yet.

The main advantages of the VTS-e exchange

The fact that the popularity of the BTS-e exchange is growing every minute is not surprising, because the trading platform has undeniable advantages:

currency exchange transactions are carried out automatically (this is why clients can get the maximum benefit when concluding a transaction);
API available for all currencies;
cryptocurrency is deposited and withdrawn instantly;
money is withdrawn within three days;
the interface is available in both English and Russian;
the service supports various methods of replenishing your account (via bank transfer, through any payment system, cryptocurrency and even cash).

Russian-language exchanges

Russian-language cryptocurrency exchanges are those platforms that require an interface in Russian. It is important to understand that they can be located anywhere and not fall under Russian jurisdiction. Most Russian-language exchanges do not have the kind of turnover that the world's largest international exchanges can boast of, but they also have their advantages. Having an interface that is understandable for our user is one of them. Still, this will allow a novice trader to avoid a lot of mistakes in trading. The main essence of trading on a cryptocurrency exchange comes down to selling a currency at a higher price, having bought it cheaper some time before. When working with exchanges, you should pay attention to such important information components as “currency chart”, “transaction history”, “trading volume”, as well as “buy and sell orders”.