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New Fiat Pairs And Tokens: The BTCC Relaunch

Chinese cryptocurrency exchange BTCC recently announced that it is relaunching its exchange business with a plan to issue new tokens.

The trading platform announced on its website and social media that it is now up and running with new pairs including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin cash (BCH), all of which can be traded with the US Dollar. The move has been welcomed by the investors, given the need for more fiat trading pairs in the market.

The renewed exchange service will offer zero trading fee for the first three months of operation. The statement issued on July 2nd, 2018 read,

“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.”

Now headquartered in Hong Kong, BTCC said in a statement that it is introducing a point-reward system through which traders can earn points by signing up, referring other users, completing verification, and continuing trading. These ‘points’, according to the company’s revival plan, can be fully converted into BTCC’s own tokens which will be further tradable on its platform.

The statement, regarding the point system, mentioned, “Referring users and many other activities will also provide you with the opportunity to earn points. All reward points are fully convertible to BTCC tokens upon release. Our reward point system will give you tangible benefits that you can use across the whole BTCC ecosystem.”

The company’s relaunch comes nearly a year after it suspended its operations in September 2017 owing to the ban imposed by the Chinese central bank, People’s Bank of China, and the overall restricted regulatory environment. Though BTCC attempted to resume after shifting its headquarters to Hong Kong, it had to suspend the operations regarding its crypto-to-crypto platform DAX too, in December.

The digital exchange platform boasts of new fiat trading pairs, quicker deposits and withdrawal times, cold offline storage and SSL encrypted traffic as some of their latest features. Ensuring better protection of the clients’ digital assets, the company said, “We take security very seriously and are proud of the fact that we have never been compromised.”

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