Brief information about BTCC
Chinese Exchange BTCChina (BTCChina) is registered in Hong Kong, Kowloon and has been operating since 2011. The activity of the exchange was high until the fateful 2013, when in December the Chinese government at the legislative level banned the use of cryptocurrencies, as well as any transactions with them in the country. BTCC also fell under the sanctions. And, by the way, after China, Norway imposed a ban on digital currency and toughening up the use of cryptocurrencies in a number of developed countries swept like a snowball.
True, the “rest” of the BTCChina exchange was not long, and after a while it practically rose from the ashes like a Phoenix. Initially, the cryptocurrency exchange focused exclusively on the Chinese market, as evidenced not only by the name, but also by the presence of the language version of the site – Chinese. Interest in the exchange gradually began to wake up among English-speaking people, which gave impetus to the expansion and creation of a second language version of the site – English. As you can imagine, Russian is out of the question.
The BTCChina exchange is one of the most popular (if not the most popular) in China and this is due to the fact that it allows not only exchanging cryptocurrency in several markets at once, but also mining it. And this is only part of the opportunities that open up for the participant of this site.
Registration on the exchange
Registration on BTCChina is no different from a similar process on other exchanges. The only thing is that it is not advisable to use @mail when registering. The promised letter with the activation link did not arrive within 24 hours. We advise you to use @gmail, here the letter came, though not instantly, but it’s good that it came at all. Then everything is as usual – you need to follow the link, activate your account and join the number of users of the exchange.
Note that simple registration on the exchange will not be enough to carry out any operations. In any case, the user will have to go through the procedure for verifying his account and confirming his identity by providing BTCChina specialists with scans of personal documents.
It should be noted that the BTCC exchange is quite extensive and offers several markets at once for carrying out various types of operations. Let’s consider each site in more detail.
Spot CNY Exchange Market (BTCChina) is a platform that deals exclusively with the Chinese yuan. The exchange offers several services for clients, among which there are, for example, exchange operations. At the head of the currency pair is, of course, the Chinese yuan. In total, there are six currency pairs, which include CNY – BTC / CNY, LTC / CNY, ETH / CNY, ICO / CNY, BCC / CNY.
USD Exchange Account
On this site, work is in full swing on the exchange of cryptocurrency for the US dollar. For the convenience of conducting trading and exchange operations, the platform developers have implemented over 100 indicators that allow for more accurate market research. True, this luxury is presented in the advanced user terminal (Advance). For those at the Basic level, the transaction schedule is more simplified.
BTCC Pro – offers users to try margin trading in cryptocurrency pairs, which include USD. There is leverage, which to some extent increases the trader’s risks, but also makes it possible to work with a significant deposit, rather than actually being on the trader’s account. In short, BTCC Pro is suitable for those who have some experience in this field. The only thing is that the platform is presented in the Beta version.
This exchange carries out transactions with Ethereum Classic (ETC), Ethereum (ETC) and a new fork of Bitcoin – Bitcoin Cash (BCC). Trading is possible for such cryptocurrency pairs as ETC / BTC, ETH / BTC and BCC / BTC. The withdrawal of funds from this exchange is currently limited to 20 BTC per day, and therefore large players may feel some discomfort with the withdrawal of funds in case of a significant profit. These limits are unlikely to hinder small and medium speculators.
The BTCC cryptocurrency exchange offers users not only trading and exchange operations, but opens up wide opportunities for them. Let’s dwell on the additional services of the exchange:
Own blockchain within BTCC is also available, and is based on the BTCChina exchange. True, if you believe the opinions on the network, this technology is not particularly popular among the exchange participants.
Another possibility of the BTCChina exchange and involves pure mining in the form of pools, which can attract the attention of single miners due to guarantees for withdrawal of funds. Although the income does not promise to be high. However, it all depends on the experience and availability of the technical base of the miner. At the moment, there is an opportunity to mine Bitcoin and Litecoin.
Sale of physical BTCC coins to all interested parties. The coins are made of titanium and, by and large, can be of interest only to collectors. Nevertheless, such coins have a value by assigning a special digital key to each. That is to say – a digital currency in physical form.