BTC-e Launches Multi-currency Accounts

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BTC-e Launches Multi-currency Accounts

Cryptocurrency exchange BTC-e launched extra features on its advanced exchange protocols, introducing what it calls ‘Multi-Currency MetaTrader’ accounts through the MetaTrader 4 (MT4) terminal.

The improvement makes it possible for consumers to have several accounts with the MT4, which will facilitate trading in bitcoin, litecoin and namecoin. Usual fiat currencies that are popular with BTC-e such as euro, pound, Russian Ruble and yuan remain supported.

All holders of MT4 accounts will access benefits same as those for US dollar accounts, provided they set one of the currencies mentioned above as the ‘base asset’ to be used in denoting account balance, earnings and other figures, thebitcoinnews reported.

Before the developments, account holders needed to convert amounts in the currencies supported by BTC-e into US dollars before moving them to MT4, a process that’s subject to conversion fees.

From now on, users may deposit, exchange and withdraw money in the defined base asset currencies and be charged minimal fees for the transactions.

They have the option of setting their favorite fiat or virtual currency as the base asset. The provision for unlimited account means that users don’t have to stay confined to one.

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The virtual currency exchange says users can create MT4 accounts by going to the ‘MetaTrader’ tab, which is available on their BTC-e individual profiles and then clicking a preferred currency.

MetaTrader 4, which was developed by MetaQuotes Software, is among the world’s most dominant players in online forex trading. Users acquire a client application, which they install on their desktops. Server-end resources are provided by the third-party player, which is BTC-e in this case.

MT4 is aimed at expert forex traders and provides them with sophisticated analytical tools and live streaming charts features.

According to Coindesk, BTC-e made MetaTrader 4 available for use in November last year. The exchange has versions that are compatible to mobile devices on Operating Systems such as Android and iOS.

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To contact the reporter of this story; Deepak Tiwari at deepak@forexminute.com

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Deepak Tiwari, a law graduate, has been working as a journalist for six years now. He currently writes on Bitcoin, economic, and Forex related news at ForexMinute, the brand new financial news portal which is making waves among Forex traders around the globe for the innumerable Forex resources it offers for readers, traders and brokers. His other specialties include writing on law & governance, finance, internet marketing, careers, politics, international relations & diplomacy, etc.