By
Mayowa Adebajo
March 1st, 2024
Good news for the cryptocurrency community: a new exchange developed by BTCC is said to enter the game in June. The platform will provide faster transactions and enhanced security.
The world’s oldest Chinese Bitcoin exchange BTCC has revealed its plans to launch an upgraded new exchange platform in June.
BTCC is launching a new exchange in June that will introduce a #reward #point system, allowing you to spend across the whole BTCC ecosystem. That includes the @BTCC_Pool and @BTCCmobi wallet! https://t.co/qLUALyl8eV#like and #retweet to enter our draw to #win 1000 bits pic.twitter.com/OJa9Goe6d0
— BTCC (@YourBTCC) May 26, 2018
According to the company’s official blog post, at launch the new platform will provide support for such currencies as Bitcoin, Ethereum, Bitcoin cash and Litecoin. The company also promises to regularly introduce new trading pairs with a view to meet the requirements of their clients.
Moreover, the new BTCC exchange will provide zero trading fees during the first three months after the launch.
BTCC team explains that the new exchange will stand out for better liquidity that will allow small bid-offer spreads and less time consuming confirmation deposits and withdrawals. The features of this trading platform are said to become available to users from all corners of the world.
The company considers their new platform to be a cutting-edge system that will provide its users with practically unlimited opportunities in trading.
Speaking about technical aspect, it is necessary to mention that the new system will utilize a multi-tier, multi-clustered system with an optimized, high-speed memory trading engine as it is reported in the company’s blog.
The team is proud to have been operating their exchange for seven years already and takes security issues quite seriously. “We take security very seriously and are proud of the fact that we have never been compromised”, wrote team.
Bearing this idea in mind, BTCC team has taken a decision to add offline cold storage and SSL encrypted traffic to their new platform.
So, the updated exchange platform will offer its clients services of offline cold storage as this way of storing digital assets is viewed as the most reliable and secure at the current moment while online hot wallets can’t boast such reliability, especially after a number of well-known hacks at different exchanges.
One of such example that took place in January but is still widely discussed is $530 million theft of NEM tokens from Japanese exchange Coincheck. BTCC does not want such a story to happen once again. That’s why they’ve chosen cold storage as the most appropriate variant to offer.
BTCC will also provide users of their new platform with a chance to earn points. These points will be awarded for them for verifying, depositing, referring users and many other activities. Customers will benefit from using their points received as an award across the entire BTCC ecosystem that also includes BTCC Pool and Mobi wallet.
BTCC, that was previously known as BTC China, was the world’s first cryptocurrency exchange and was founded in 2011. Nevertheless, the negative attitude of Chinese authorities to the national cryptocurrency industry enforced the exchange to stop its operations in China in September 2017.
Quite soon the exchange relocated its base of operations to Hong Kong and London and later was acquired by a Hong Kong blockchain investment fund.
At the moment, as it is informed by CoinMarketCap, BTCC is ranked as the 28th world’s largest exchange according to 24 hour trading volumes.