Formerly Top Three Crypto Exchange BTCC Relaunches, Plans to Issue Native Token

Published at: July 2, 2018

BTCC, formerly known as BTC China, has relaunched its crypto trading platform and revealed plans to issue its own native token, according a company announcement Monday, July 2.

The rehauled crypto exchange is now live, offering trading for Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC) against the U.S. dollar, as well as crypto-to-crypto pairings.

The new site advertises a points-based system for users, who will earn points that will later be redeemable for a new, native BTCC token, whose release date remains unspecified.

For a limited promotional timespan, BTCC points will be earned through completing site registration and verification, as well as making a first deposit and trade. They will then be awarded for user referrals, and other activities.

BTCC has also announced a zero-fee trading regime that will last for the first three months after relaunch. This distinguishes BTCC’s new points system from that of rival crypto exchanges, some of whom have recently introduced a new so-called “trans-fee mining” revenue model, in which users receive 100 percent of their trading fees back in native exchange crypto tokens.

As Cointelegraph has reported, due to the popularity of trans-fee mining, both Singapore-based CoinBene and Hong Kong-based Bit-Z temporarily shot to the top of Coinmarketcap crypto exchange listings by volumes last week, although both have now been outpaced by stalwart rivals.

BTC China was founded in 2011 and was formerly one of the top three crypto exchanges in China, before a domestic regulatory ban on ICOs and rumors of an imminent crypto exchange crackdown prompted it to announce its closure in Sep. 2017.

This year, BTCC has been focusing on two further ventures alongside its trading platform - these being its international BTCC Mining Pool and Mobi wallet software. In January, the company was acquired by a Hong Kong-based blockchain investment fund to facilitate its rebranding and further expansion.

Tags
Bitcoin
Cryptocurrency Exchange
Tokens
Btcc
Related Posts
Platform offers win-win for professional traders and new investors
A social crypto trading platform connects professional traders with new investors — creating a win-win situation. Learning about cryptocurrencies can be a steep learning curve, and according to Tycoon, mastering the art of trading well is also difficult and time consuming. The platform aims to improve accessibility into this flourishing space through the use of API technology — meaning that a trader who is starting out can connect to a more experienced professional and copy their moves in real time. Tycoon says this approach can help newcomers accelerate their educational journey, all while potentially making the process much more rewarding …
Bitcoin / March 26, 2021
OKEx Announced The Listing of Compound DeFi Protocol's COMP Token
Cryptocurrency exchange OKEx have just listed Compound’s COMP token for trade. COMP is the native token of Compound — a DeFi protocol that allows its users to earn interest on deposits or lend cryptocurrencies. Lending and borrowing on Compound are managed through a decentralized peer-to-peer blockchain-based protocol. After its 2017 launch, the platform grew to reach the top spot among all the DeFi services based on the total value of assets locked, according to DeFi Pulse. According to the same source, there are currently nearly $628 million currently locked in the ecosystem. As Cointelegraph recently reported, COMP has suffered heavy …
Bitcoin / June 29, 2020
JPMorgan’s Blockchain Offshoot Kadena Gets First Ever Token Listing
Bittrex Global, one of the world’s most popular platforms for trading cryptocurrencies, is about to become the first crypto exchange to list a token by JPMorgan’s blockchain spin-off Kadena. Kadena token (KDA), is finally getting its first official listing on June 25. While token deposits on KDA wallets on Bittrex are available immediately, the trading is set to open on June 26 at 10:00 a.m. EST. At the initial launch, KDA will be trading against two cryptocurrencies — Bitcoin (BTC) and major USD stablecoin, Tether (USDT). Trading on Bittrex Global isn’t available in the U.S. and some sanctioned countries By …
Blockchain / June 25, 2020
Binance Chain Launches, Firm Expects to Execute Mainnet Swap on April 23
Binance has launched its mainnet Binance Chain and expects to execute the swap of its native token Binance Coin (BNB) on April 23, according to an announcement on April 18. The major crypto exchange first revealed its plans to launch its own blockchain in December 2018, intending to build a basis for issuing new cryptocurrencies and initial coin offering tokens. According to the announcement, Binance is producing blocks with consensus from the genesis block as of today, with its native coin BNB planned to be issued in the genesis block. Binance Chain Explorer and Web Wallet will be available to …
Blockchain / April 18, 2019
The Name’s Bond, Token Bond: Why 2019 Could Be Its Year
An established digital asset exchange has announced it is holding a summit in Singapore to explore new opportunities in the marketplace – creating a platform where crypto enthusiasts can detect industry trends and debate what the future holds after a volatile year. Bibox, an exchange enhanced by artificial intelligence (AI,) is hosting a summit on Nov 29, and hopes the event will give investors an insight into the strategic changes that lie ahead in 2019. The company says that token bonds are likely to take center stage at the day-long conference, amid questions over whether they could become a new, …
Blockchain / Nov. 27, 2018