BTCC, or BTC China. one of the longest running and top three cryptocurrency exchanges in China has announced the relaunch of services after being closed for over nine-months following the govt. crackdown operations on cryptocurrencies. It also revealed plans to launch its own token in future.
From now on, users will earn “reward points” for completing various actions. These reward points will be “fully convertible to BTCC tokens,” which can then be traded. The release explains:
“Referring users and many other activities will also provide you with opportunities 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!”
Vice President of the Exchange Aaron Choi said that the relaunch of the exchange would feature a system to reward clients with points that would eventually be fully converted to BTCC tokens.
He 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”.
Some of the features of the new BTCC Exchange include new trading pairs (BTC, ETH, BCH, LTC/USD, ETH, BCH, LTC/BTC, etc.), enhanced liquidity as well as supposedly quicker deposits and withdrawals. Tighter bid-offer spreads are also being offered to enhance the trading experience.
Like all Chinese exchanges, BTCC has faced significant hurdles over the past year as local authorities crack down on the virtual currency industry. The exchange relocated its headquarters to Hong Kong in September 2017, with CEO Bobby Lee remaining hopeful the landscape will eventually change.
Garnering a worldwide user base is currently the preoccupation of many Chinese operators, with Huobi announcing the opening of a dedicated London office last week — which it will use to target European markets.
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