BTCC Exchange Review
BTCC – Is It Good?
BTCC is one of the oldest cryptocurrency exchanges in the world and the oldest and largest in China. It used to be one of the largest in the world with a large mining pool and deep liquidity. However they encountered issues with the Chinese government and ended up being closed in late 2017. During early 2018 they were acquired by a Hong Kong investment fund that relaunched it in 2018.
So how good is BTCC? Is BTCC trustworthy? What are the differences between the exchange now and before it was closed? And, most importantly, how does it stack up against other platforms?
What Does BTCC provide?
Founded in 2011 (ages in the cryptocurrency world) BTCC used to be one of the largest cryptocurrency exchanges in the world. They traded more than most exchanges and were incredibly popular, especially in China. The problems started to arise with the Chinese government and its ICO ban in the country. BTCC since reopened as BTCC Korea.
BTCC is quite secure and has never had any hacking attempts, wither before or after its relaunch. It claims to keep 95% of its users’ funds in cold storage and its longevity adds to its credibility. They also have anti-DDoS attack security systems and state-of-the-art security protocols.
Although BTCC relaunched supporting only a few criptocurrencies, (Bitcoin, Litecoin, Ethereum and Bitcoin Cash) the support has grown to over 60 currencies including OmiseGo, Augur, Aragon, Teleomere Coin and many more, with more expected to come.
The exchange also offers great liquidity, claiming to be able to handle up to 5000 BTC at the same time. BTCC is also easy to top up, with them supporting Alipay, bank cards and USDT recharge, and your deposit is reflected immediately with no extra handling fee. Koreans can also fund their accounts using the South Korean Won.
The interface has graphics that allow to make a detailed technical analysis of your crypto and your possible investments.
In China BTCC didn’t have any licencing and wasn’t overseen by a government body. BTCC Korea presumably is under regulation of the South Korean government, since it’s impossible to operate in South Korea without a licence.
Supported Countries
BTCC supports most countries but their focus is mostly on their Asian market.
BTCC Rates and Buying Limits
BTCC trading fee is incredibly reasonable, even for a Chinese exchange:
BTCC fee: 0.1%
In addition to that they offer free cryptocurrency deposits and flexible minimum deposit and withdrawal amounts.
BTCC Pros
- Mobile Apps: With Android and iOs apps, you can easily use BTCC on the go.
- Low fees: With a 0.1% fee, BTCC is definitely below the industry average.
BTCC Cons
- Unproven subsidiary: Since its relaunch is fairly new, there hasn’t been a lot of information on its performance.
Go to BTCC
Is BTCC Good For Bitcoin?
BTCC used to be a large and trustworthy exchange. However since it relaunched in 2018 there hasn’t been a large amount of information of its Korean subsidiary which is yet to prove itself. We hope BTCC can be restored to its former glory although that will take time.
