BTCC Relaunches and Plans to Issue its Own Native Token
BTCC which was formally called BTC China has relaunched its cryptocurrency trading platform and has revealed that it’s going to issue its own token. The exchange which was formerly among to top best exchanges in China is now live offering trading options for Bitcoin, Ethereum, Bitcoin Cash and Litecoin which will all trade against the US dollars. More to that the exchange will also offer crypto-to-crypto pairings.
BTCC will reward all customers who will join the platform with points which will later be converted to the native BTCC token. However, the company did not specify the actual release date of the token. At the moment all points will be obtained through completion of the site registration and verification as well as completing the first trade deposit. More to that people can get the points through user referrals among other related activities.
Other benefits include zero-fee trading time which will last for a maximum of three months after the re-launch time. This is a clear distinction of BTCC’s point reward system from its rivals who have been using a system called ’trans-fee mining’ revenue platform where users get back 100% of their trading fees through native exchange tokens.
Trans-fee mining has become very popular since the system has been marketing exchanges well. A good example is Singapore based CoinBene and Bit-z of Hong Kong which at some point topped the coinmarketcap cryptocurrency exchange listings through volumes of trade last week even though they have been outpaced at the moment by the larger exchanges.
BTCC was founded in 2011 as BTC China was it was all through among the top three best cryptocurrency exchange in China before China banned ICOS and rumors that the government was planning a cryptocurrency exchange crackdown which led to the exchange to announce its closure in September 2017.
Before the relaunch BTCC had been focusing to two other ventures other than its trading platform. The other ventures include the company being an international BTCC mining pool as well as offering Mobi wallet software. The rebranding has been happening after the company was bought by a Hong Kong-based blockchain fund to facilitate its rebranding.