Btcsquare.net is, so far, the only exchange they have managed to learn nothing about – aside from what they care to admit on their own site. The entire web does not contain a mention of anyone working there, founding the exchange or even where it is registered – regulatory wise. A bit of further investigation reveals the domain was registered on March 2018, and it is also around that time that the various social accounts started popping up.
Btcsquare was heard of for the first time in 2018. Unfortunately, its country of origin is unknown to. The trading volume of BTCsquare is nothing to be compared to any of the exchanges we have seen before now. According to CoinGecko, Its 24 hour trading volume on November 12, 2019 was a little less than USD 1,930. This presents fears that the exchange may soon shut down.
How To Start With Btcsquare.net
To start trading with Btcsquare.net ,Indian residents first have to sign up for an account by following the steps below.
Step 1. Click on the “Login/Signup” link on the top right hand corner of the Btcsquare.net website.
Step 2. In the form, fill in your first name, last name, mobile number, email ID and password.
Step 3. If you have a referral code, enter the code while creating your account.
Step 4. Submit the form and wait for an activation email to be sent to you.
Step 5. Click on the “confirm email” link in the activation email.
Step 6. After your account is activated, you’ll be sent a 6 digit one time password (OTP), which you have to enter after logging into your Btcsquare.net account.
How does it work?
Btcsquare take supported cryptocurrency deposits on one side and bitcoin deposits on the other side of the trade, then they allow customers to exchange their cryptocurrencies. It’s easy, fast and free to open an account. Click Registration in the top of the page, fill out the form and log in, then you have to fund your account. Click Balances in the main menu and select a type of deposit you wish to make.
Btcsquare Trading Fees
The taker and the miner pay an equal fee, which is 0.10%. This is more than 50% better than the standard fees of 0.25%.
There is no known amount to be paid for withdrawing money from BTCsquare yet.
BTCsquare does not allow funding with fiat currency. That means only crypto is allowed. Your credit/debit card won’t be useful here, just as there would be no need to do a wire transfer.
The Mozilla Observatory site tells that Btcsquare has received an F score. Coupled with the fact that they have a low 24 hour trade, one has to be careful with the site.
Simply register or log in to your account. There you can see security panel with 2FA authenication. Simply click on it, download to your mobile device Google Authenticator app, click scan QR code and fill in your new generated code. After that, everytime you want to log in to your account or make withdrawal, you will be asked for this code from your mobile device.
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