BTSE Token wallet

What is BTSE Token (BTSE)?

The house token of the BTSE exchange has a practical job rather than a technical one. Holding a BTSE balance lowers trading fees on the platform and opens access to certain products and promotions there. Nothing about the token accrues, rebases or changes balance on its own; what you hold stays as it is until you move it.

Two homes, one ticker

The detail that matters for a holder is that BTSE exists on two very different networks. It was first issued on Liquid, the Bitcoin sidechain, and later as an ERC-20 token on Ethereum. The two are separate assets with the same name and symbol. A Liquid BTSE does not belong at an Ethereum address, and the reverse is equally true. The ERC-20 version is the one that sits at an ordinary Ethereum address: there is no token account to open, but every transfer out is paid for in ETH, so the wallet needs a little ETH next to the token or the transaction will not go through.

Supported networks in Tangem (1): Ethereum.

Since the same ticker lives on two chains, the useful habit is to look at where a transfer is going before it is signed. The Tangem app lists the BTSE balance under its network and states which network the outgoing transaction uses, so you read it on the screen before the card signs. When withdrawing from the exchange to the card, pick the ERC-20 option; when sending back, the deposit address on the exchange must also be the Ethereum one. Keeping the on-chain part of your BTSE in Tangem then comes down to a single Ethereum address you control, with the network named on every send.