BTCC, formerly known as BTC China, has relaunched its crypto trading
platform and revealed plans to issue its own native token,
according a company announcement Monday, July 2.
The rehauled crypto exchange is now live, offering trading for
Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC) against the U.S. dollar, as well as
crypto-to-crypto pairings.
The new site advertises a points-based system for users, who
will earn points that will later be redeemable for a new, native
BTCC token, whose release date remains unspecified.
For a limited promotional timespan, BTCC points will be earned
through completing site registration and verification, as well as
making a first deposit and trade. They will then be awarded for
user referrals, and other activities.
BTCC has also announced a zero-fee trading regime that will last
for the first three months after relaunch. This distinguishes
BTCC’s new points system from that of rival crypto exchanges, some
of whom have recently introduced a new so-called
“trans-fee mining” revenue model, in which users receive 100
percent of their trading fees back in native exchange crypto
tokens.
As Cointelegraph has reported, due to the popularity
of trans-fee mining, both Singapore-based CoinBene and Hong
Kong-based Bit-Z temporarily shot to the top of Coinmarketcap
crypto exchange listings by volumes last week, although both have
now been outpaced by stalwart rivals.
BTC China was founded in 2011 and was formerly one of the top
three crypto exchanges in China, before a domestic regulatory
ban on ICOs and rumors of an imminent crypto
exchange crackdown prompted it to announce its closure in Sep. 2017.
This year, BTCC has been focusing on two further ventures
alongside its trading platform - these being its international BTCC
Mining Pool and Mobi wallet software. In
January, the company was acquired by a Hong Kong-based blockchain investment fund to
facilitate its rebranding and further expansion.