For funds that you’re not actively trading, it’s highly recommended that you seek out some form of storage where you hold your private keys – the gold standard is undoubtedly the almighty hardware wallet, which ensures that these are never transmitted to an online device. Granted, however, hardware wallets are better suited to mid-to-long-term storage setups, as they can be somewhat cumbersome to use for day-to-day spending.
Software wallets are not as inherently secure, but they’re the perfect medium for funds that need to be quickly spendable – whether to make purchases, pay for your share of a bill in BTC, or to send funds back onto an exchange to seize a trading opportunity that has just opened up.
For BTSE traders, it’s hard to top Blockstream Green. In fact, the two platforms are perfectly complementary – both offer support for Liquid Bitcoin and Liquid USDt, meaning that these can be seamlessly moved from BTSE to Blockstream Green (or vice versa). As traders who have attempted to move funds between wallets and exchanges can attest to, Bitcoin’s confirmation times can make it difficult to reliably execute a time-sensitive transfer.
This is just one of the reasons why we joined the Liquid Network as a launch member: the sidechain offers a tremendous extension to the Bitcoin protocol, and in pegging each L-BTC to a regular bitcoin, the two can be interchanged and traded against each other. For those requiring stablecoins (a welcome relief from the unending volatility of native cryptocurrencies), USDt provides a safe haven asset in which to store value acquired (or lost!) in trading.
Units on the Liquid Network are not constrained by the limitations on the main chain – where a proof-of-work algorithm and difficulty adjustments dictate that a block is found every ten minutes, the signatory model used by Liquid means that a block is generated every minute. And while a transaction is only considered final, in many cases, after six blocks (or an hour) on Bitcoin, it only takes two blocks to achieve the same on Liquid.
What this means for you is that, in the space of two minutes, your funds can be moved from Blockstream Green to BTSE, and are ready to be traded. The launch of the wallet marks the first step towards providing users of all kinds – from HODLers to traders – with a gateway into the next generation of blockchain usability.
With Blockstream Green, users are empowered with the means to store their USDt and L-BTC (not to mention, other Issued Assets) non-custodially. We’re incredibly bullish on the Liquid Network and are thrilled to see the infrastructure surrounding it steadily evolving.
Our aim is to create a platform that offers users the most enjoyable trading experience. If you have any feedback, please reach out to us at firstname.lastname@example.org or on Twitter @BTSE_Official.
Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.