One of the former “Big Three” Chinese giant’s, BTCC, has announced the launch of its new upgraded cryptocurrency exchange on Monday, with a new set of legitimate standards that will offer reorganized and improved cold storage, SSL Encryption, good returns with enhanced liquidity, faster deposits and withdrawals, tighter bid-offer spreads, and zero trading fees for the first three months. It also publicized its plans of introducing a new token in the near future.
At first, the platform will support the following cryptocurrencies – bitcoin cash (BCH), bitcoin core (BTC), etherium (ETH), and litecoin (LTC), as well as trading pairs like LTC/USD and LTC/BTC. Other currency options will be added regularly to meet the needs of users in a more reliable structure.
The company also noted that, “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.”
Aaron Choi, Vice President of the BTCC Exchange, stated,“A soft launch has already been made and we decided to go ahead with the BTCC points system that will be fully convertible to BTCC tokens. We wanted to give something back to the community which has supported us through a rather difficult period. Initially, we started trading with just bitcoin/USD pairs and eventually added ethereum, litecoin and bitcoin cash. We will be adding further coins according to what our customers tell us although these will probably be Top 10 anyway”.
BTCC, previously BTC China, was the world’s first crypto exchange and the second largest in position by bitcoin trading volume but had to close its doors in September 2017 due to Chinese authoritiesabolition of the domestic cryptocurrency sector, followed by an ICO ban and trading cryptocurrencies with the national fiat, the Yuan. However, it moved its operations to Hong Kong and London, tried to maintain a crypto-to-crypto platform called DAX, but that offering was also suspended in December.
BTCC was acquired by a Hong Kong-based blockchain investment fund in January 2018 with a focus in shifting on the international market and also diversifying its business to three main areas: the exchange, a mining pool which is still controlling 2% of the bitcoin core hash rate, and its crypto “Mobi” wallet.