Those who have been around the crypto-community for a really long time may recall the name BTCC. For those who do not, it is the oldest Bitcoin exchange in the world. Formerly known as BTC China, BTCC has been around since 2011! BTCC is all set to return as an improved and upgraded platform. The company has announced a new platform to be launched in June.
BTCC was among the three biggest cryptocurrency exchanges in China but had to move out of the country and relocate to Hong Kong and London following the Chinese government’s cryptocurrency crackdown last year. The exchange has since been acquired by a Hong Kong based blockchain investment fund - this acquisition helps BTCC get back into the mix with a bigger financial backing. The company announced their new platform saying:
“In June, we’ll launch the much anticipated, new BTCC Exchange platform. Some of the key areas we have focused on are: enhanced liquidity, faster deposits and withdrawals, and small bid-offer spreads. In terms of technical developments, our exchange will utilize a multi-tier, multi-clustered system with an optimized, high-speed memory trading engine. So, you can make the trades you want on a cutting-edge system.”
This new and improved cryptocurrency exchange that BTCC is going to launch will support BTC, ETH, BCH, LTC/USD, and LTC/BTC trading to start with. A few other currencies will also be present but they haven’t been named yet. The exchange has promised to add more trading pairs over the months to follow. Moreover, for the first three months, the new and improved BTCC promises to charge no trading fees as well!
This new platform will also provide offline cold storage services - which will help protect the consumers cryptocurrencies in an even secure manner. Offline cold storage services are getting quite popular especially after reports of Xapo’s $10 Billion cryptocurrency storage came to light. Moreover, the likes of Coinbase have also begun to focus in this direction. BTCC too wants to provide their users with this secure form of storage.
Highlighting their past performance, BTCC commented that theirs has been a very secure platform and even after being the oldest cryptocurrency exchange - their security hasn’t ever been breached. The company said:
“BTCC's exchange is backed by seven years of operational experience and has been optimized to include offline cold storage and SSL encrypted traffic to protect your digital assets. We take security very seriously and are proud of the fact that we have never been compromised.”
Interestingly, BTCC is also looking forward to adding a points-based system on to their platform. These points would be rewarded to users on identity verification, making deposits - and on referring new members to the platform. These points will carry some award value and would be an incentive for users to use the platform as well as promote it.
With the wealth of experience that BTCC has in running a crypto exchange, this new and improved platform is indeed expected to attract a number of investors. Moreover, the incentive of zero trading fees for three months is quite attractive as well and would help BTCC gain several initial traders.