Crypto Firm BTCC Relaunches Cryptocurrency Exchangebr>
Chinese bitcoin company BTCC has announced the re-launch of its crypto exchange platform with a plan to launch its own token in the future.
Founded in 2011 by Bobby Lee, BTCC was the world’s oldest bitcoin exchange until it shuttered its platform in September 2017 under pressure from Chinese authorities. It operates a major mining pool which mined almost $900 million in bitcoin last year. It moved its operations to Hong Kong and London before being bought out by a Hong Kong blockchain investment fund in January of this year. In May, the company announced its plans to launch an upgraded crypto exchange platform.
In its announcement on Monday, BTCC said that its revamped exchange will offer new trading pairs – BTC, ETH, BCH, LTC/USD, ETH, BCH, LTC/BTC, etc., new rewards point system, enhanced liquidity, quicker deposits and withdrawals, and tighter bid-offer spreads. The new exchange will regularly launch additional trading pairs based on user feedback.
The company is also introducing a system by which users can be rewarded with points by signing up, completing ID verification and trading. All reward points are fully convertible to BTCC tokens upon release, which will be tradeable on the platform. Users will instantly receive 1,000 reward points on sign up, another 3,000 on completing the verification process, yet another 3,000 on making the first deposit, and 5,000 points on completing the first trade.
“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,” said BTCC Exchange Vice President Aaron Choi. “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.”