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World’s Oldest Bitcoin Exchange BTCC to Launch New Platform: Introduce Suite of New Features

Reading Time: 2 minutes by on May 31, 2018 Altcoins, Business, Finance, News, Tech
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The world’s first bitcoin exchange has announced plans to launch an upgraded platform in June 2018, in addition to introducing trading pairs for several cryptocurrencies.

Zero Fee Trading

BTCC, the Hong Kong-based digital asset exchange, announced via an official statement on May 24, 2018, about plans to launch an upgrade. “BTCC Exchange” platform in June 2018, which aims to provide users with faster deposits, higher exchange liquidity, and small bid-offer spreads, in addition to being made available to a worldwide audience.

As stated, the launch shall initially support (BTC), ethereum (ETH), bitcoin cash (BCH) and litecoin (LTC) trading pairs, with the exchange adding that user demands shall be addressed in the upcoming months to accommodate additional trading pairs.

The exchange is seemingly withholding any personal benefits in the initial period, as users shall enjoy a zero-fee trading experience for the first three months after launch, i.e., until September 2018.

Salient Features of Upgraded Platform

The announcement claims that BTCC shall include offline cold storage wallets for users, in a bid to safe-keep their digital assets and prevent a massive cryptocurrency theft – as observed in the January 2018 $550 million NEM hack which was attributed to Coincheck’s usage of “hot wallets.”

The exchange added that security was one of the most serious considerations while planning the upgrade, and took pride in the fact that the platform has “never been compromised” in its seven-year history.

Speaking about its revamped technology, BTCC stated:

“In terms of technical developments, our exchange will utilize a multi-tier, multi-clustered system with an optimized, high-speed memory trading engine.”

Founded as BTC China in 2011, the exchange was the world’s first to offer commercial buying, selling, and trading of bitcoins. Unfortunately, the pioneering exchange shuttered its doors in China in 2017, after the country launched a crackdown of ICOs and outright banned digital asset handling for its citizens. Due to this, BTCC shifted its offices to Hong Kong and London.

Hong Kong has welcomed several cryptocurrency businesses over the years. Source: Mazar

The exchange has been regarded as one of China’s original “Big Three,” and was acquired by a  Hong Kong-based digital assets fund in 2018, which has now culminated into the firm’s revival.

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