Introduction

BTCC is a trailblazing virtual currency exchange which has been enabling transactions for people all over the world. In the context of the following BTCC review, we lay out the history behind the exchange, the services which it provides, and how it compares as a player in today’s marketplace for exchanges of cryptocurrencies. Whether new to the exchange scene or an inquisitive individual looking to the future, understanding how BTCC works can help better-informed decisions about how to sell, buy, or keep virtual currencies.

What Is BTCC?

BTCC is a cryptocurrency exchange website started back in 2011 by Bobby Lee, which makes it one of the oldest exchanges available today. Started initially in China, BTCC became popular for the fiat-to-crypto services it provided and was at the core of China’s initial adoption of the cryptocurrency. Through the passage of the years, the website transformed as per the regulations and then relocated the headquarters to Hong Kong.

Today, the exchange specializes exclusively in cryptocurrency futures trades and operates as BTCC Exchange Limited. While it does not offer fiat-traded pairs anymore, the platform gives the user base access to a full spectrum of crypto derivatives, with a focus specifically on contracts settled in USDT and levered trades.

Development and Regulatory History of BTCC

History of the BTCC

The history of the BTCC is the same as the bigger history of Chinese cryptocurrencies. Bitcoin initially became popular, and BTCC was one of the busier exchanges globally. Chinese regulatory crackdowns, though, that happened between 2017 and 2018 encouraged several local exchanges to transfer their operations elsewhere, shutting down shop.

BTCC restructured by taking its business outside the country and targeting the business of derivatives trading. The website witnessed a lot of transformation, such as rebranding and infrastructure improvement. It also tried registering itself in other jurisdictions that are better for cryptocurrencies to stay compliant and stable.

BTCC now operates regulated licenses in jurisdictions like the Seychelles and Lithuania. The licenses enable the exchange to serve international users while sticking to the minimum guidelines of compliance such as Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures.

Main Features of the BTCC Exchange

BTCC strives to provide a secure and convenient-to-use trading experience for futures traders. The following are the major features which define the platform as it exists today:

Crypto Futures Trading

BTCC trades perpetual and quarterly futures contracts. Clients can buy and sell contracts involving Bitcoin (BTC) and Ethereum (ETH) as well as a number of other altcoins. Each trade settles in Tether (USDT), which acts as a stable settlement reference point.

The traders have a choice of leveraging 5x to 100x, depending on the asset and the contract. The platform has both long and short positions, enabling the users to earn money in the increasing as well as decreasing market.

Stablecoin-Based Settlement

All the activity on BTCC gets settled through USDT, a popular stablecoin which gets pegged with the US dollar. That simplifies the calculations of profit and loss and mitigates the risks of holding certain volatile assets.

No Spot Trading

It does not offer classic spot trading as the majority of the competition. The platform is built specifically for futures contracts, which makes it a better fit for speculators and hedgers than buy-and-hold cryptocurrency investors.

Simple Interface

Despite its focus on derivatives, BTCC’s interface is straightforward and accessible even to newer traders. Users can monitor price movements, set stop losses, and manage leverage without having to navigate complex charts or menus.

Mobile Application

BTCC has a mobile app for trading, which can be utilized with iOS and Android devices. From the app, all full trading features, charts, deposit/withdrawals, and real-time notifications are accessible.

Security Measures

BTCC focuses strongly on platform security with two-factor authentication (2FA) for accounts, cold wallet storage of the bulk of user funds, and ongoing audits. Although it hasn’t had any significant hacks, it recommends strong passwords and the use of 2FA for extra security.

Supported Markets and Cryptocurrencies

BTCC trades futures contracts for a broad spectrum of cryptocurrencies, including:

These contracts are offered as permanent (never expire) or quarterly (fixed expiration) futures. There are all the standard trading pairs, which are all quoted against USDT, and all of the contracts have set margin, funding rates, and fee terms.

BTCC Fees and Charges

BTCC has a relatively simple fee structure compared to other exchanges. The following is a general description:

Trading Fees: There are flat 0.06% taker and maker fees on the bulk of futures contracts. That’s a reasonable fee, though not the lowest.

Deposit Fees: No free crypto deposit fees.

Withdrawal Fees: Withdrawal fees are determined by the asset as well as the network load. For example, the withdrawal of USDT via the TRC-20 network has lower withdrawal fees than the ERC-20 network.

There are also promotions and rewards for new users, such as deposit rewards and fee rebates, though these periodically change.

How to use BTCC

Getting started with BTCC is comparatively simple:

Create an Account

Members need to register via an email address or a cell number. Registration is validated via a verification code sent to the member.

KYC Verification

To unlock full trading features, users must complete identity verification. This includes submitting a government-issued ID and a selfie.

Deposit USDT

You can transfer funds to your USDT accounts via TRC-20, as well as ERC-20 networks. Fiat funding via BTCC currently isn’t offered.

Start Trading

After you fund, you can pick a futures contracts offering, your preferred leverage, and finish trades. Your open positions are found through the dashboard.

Withdraw Money

Users are free to withdraw the USDT at any time back into their own wallet, with low withdrawal requirements and network fees.

Community Presence and Support

Even though now the BTCC is not as popular as it was in the start, the exchange does have a modest online platform. There are formal social profiles on Twitter, Telegram, and YouTube, by which the platform releases their publication, announcements, as well as tutorial materials. The help center has FAQs and articles which cover general issues like KYC, deposits, and even regulations for trading. For personalized help, a facility of live chat is offered by BTCC, though the response speed relies on the number.

Comparator with other futures markets platforms

BTCC will have to contend with the likes of Binance Futures, Bybit, and Bitget. Compared to them, while the advantage of BTCC is that it is user-friendly and has a rich history, it lacks the copy trading, higher-level charting, and native token rewards possessed by others. BTCC could better align with the needs of traders that desire a seamless futures trading platform with the absence of other DeFi services or NFT exchanges.

Conclusion

BTCC is a classic crypto exchange that has made a name for itself as a contender in the futures arena. As a result, it has a long history, a robust set of users, and multi-contract capabilities, which make it a serious contender among traders focused entirely on levered crypto positions. Though perhaps not as flashy as newer exchanges, the comparative lack of frills and security-minded mindset have a lot of appeal to a thin segment of the marketplace. As always, participants need to have an understanding of the dangers of taking on and use appropriate risk management methods. BTCC provides you with the tools – you decide how you use them.