Introduction
BTCC is a cryptocurrency exchange founded in 2011. Under the slogan “Exchange for a better future,” BTCC focuses on “making crypto trading reliable & accessible to everyone.” To achieve this vision, BTCC is developing responsible crypto products, and creating user-friendly app interfaces, in an endeavor to uplift the industry’s standard for quality trading.
Table of contents
BTCC Exchange Overview
Having served the crypto community for over a decade, BTCC currently boasts a 24-hour trading volume of $8.31 billion and open interest of $4.72 billion in 24 hours. As of 2024, BTCC Exchange’s app has recorded over 5 million downloads since its initial launch in 2011.
BTCC is one of the very few exchanges in the market that focuses extensively on futures trading and provides high leverage options for investors. Over 300 USDT-margined perpetual trading pairs are available for users to trade, including many popular altcoins and meme-coins. Spot trading has also recently been made available on the platform to accommodate beginner users who might not be familiar with futures trading.
BTCC Exchange Details
| Website | https://www.btcc.com/en-US |
| Number of supported coins/tokens | 300+ |
| Supported Languages | 14 (English, Spanish, French, Korean, Japanese included) |
| Trading Modes | Futures, Spot |
| Leverage | 1x to 225x for futures |
| Available on mobile | Yes |
| HQ Location | Lithuania |
| Year founded | 2011 |
Platform Interface
The BTCC exchange platform is easy on the eye with its black text on white background colors. The drop-down tabs help the user easily toggle between the options. The platform is not congested with advertisements, carousel posts, and banners which overwhelm new users. The platform has a perfect blend that helps new users find footing while at the same time, pro-traders get through the process in the nick of time.
Key Features and Functions
Design & Usability
The BTCC exchange’s design is simple and user-friendly. The icons, widgets, and drop-downs have been strategically placed to give users a smooth experience. It further has the pertinent information such as the 24-hour trading volume, price change, etc., needed to take a position.
Markets
The market drop-down has two options; Futures and Spot Trading zone. It also has an option “ Add to Favorites”. This feature allows users to handpick the cryptocurrencies they are interested in and monitor their fluctuations. Moreover, the platform enables users to filter the tokens on various parameters including, Meme, SOL ecosystem, Web 3, and Metaverse.
Spot Trading
The Spot trading page gives all the needed tools and information for users to gauge the market. The user has the option to use different time frames, indicators, etc. The order book on the right gives users an idea of the direction of the market movement.
Futures Trading
The BTCC exchange offers leverage of up to 225x to maximize the user’s investment. Moreover, as trading on futures is a risky business, the platform offers a demo trading mode for users to practice trading in a risk-free environment. This allows users to pseudo-trade and get exposed to market conditions without losing funds.
In addition to having all the tools for technical analysis for trading, the platform also allows traders to set a limit to the price movement or let it be open for the best bid price. Furthermore, traders have the option of manually setting the “Take Profit” and “Stop Loss” on positions.
Copy Trading
Futures trading features a Copy Trading option that allows users to copy the strategies used by some successful traders. This gives the trader a better chance of making a profit as these strategies are tried and tested by experienced traders. The platform allows the user to filter the leader based on P&L (Profit and Loss) and other parameters. Additionally, the platform is enriched with a copy trading guide for new traders.
The platform not only caters to new traders but also to expert traders. As such, it has a “Become a Leader” button which allows experienced traders to share their strategies on the platform. By offering their expertise and allowing novice traders to copy their strategies, experienced traders are rewarded with parts of their follower’s profit. Furthermore, they could scale up their earnings by gaining followers on the platform. Copy trading campaigns are also offered from time to time, where both followers and lead traders could amplify their profits by participating and meeting certain requirements.
Supported Cryptocurrencies
The BTCC platform supports more than 300 cryptocurrencies.
Security and Transparency
Since the initiation of BTCC exchange in 2011, it has been reported of no fraudulent activity.
- Users’ margins are segregated in a trust account, while users’ assets are stored in a multi-signature cold wallet for enhanced security
- Users’ assets are stored on a one-to-one basis on BTCC: Bitcoin will be stored if users deposit Bitcoin; Tether will be stored if users deposit Tether
- SSL encryption is used to protect user’s personal data
- BTCC requires users to verify their identity through identity verification (KYC) before depositing and withdrawing funds in fiat currency
- BTCC’s financial situation will not be altered by market conditions as it did not invest or participate in any staking or DeFi projects
- BTCC’s team of experts strictly implements internal and external system audits to ensure the network is penetration-proof
- Two-factor authentication (2FA)
- Too many incorrect logins lockout the account
KYC Procedure
The KYC process helps strengthen the user’s account security and compliance with regulations. Simultaneously, there is an option for anonymous users (non-KYC-ed) to trade, however, it comes with restriction. For instance, users who do not complete KYC on the platform cannot make fiat deposits and in addition they have a lower daily withdrawal limit for their account.
Overall, BTCC Exchange’s KYC procedure is simple and straightforward, as users only need to photograph their IDs using the app and should get results within minutes. To make the process even easier, BTCC’s website also provides a KYC guide with screenshots to help beginners.
Regulation
BTCC has a Crypto license issued by the Financial Crimes Enforcement Network (FinCEN) in the USA. It also has a license issued by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and a crypto license issued by the Registrar of Legal Entities of Lithuania. It further ranks among the top crypto exchanges by market volume on recognized media platforms.
Deposit/Withdrawal/Trading Fees
Users can deposit and withdraw with ease, however, they need to complete the KYC process. Users can deposit with the listed payment systems, including credit cards, debit cards, wire transfers, and even some cryptocurrencies. However, when it comes to withdrawals, it can only be withdrawn in cryptocurrency, which comes with a transaction fee.
Fees
The BTCC charges a fee for transactions, such as deposits and withdrawals, trading fees, and fees charged for using mining pools.
Accepted Payment Methods
Deposits can be made with fiat or crypto. Credit and Debit cards of Master and Visa are also accepted.
Achievements
- BTCC has taken pride in its 0 security incidents since its inception in 2011.
- BTCC was listed on Coingecko and CoinMarketCap
- Established in 2011, BTCC is now one of the world’s longest serving crypto exchanges
Pros and Cons
Pros
- The mobile app makes it easy to trade on the go
- Supports 300+ currencies
- Flexible leverage, up to 225x for certain cryptocurrencies
- User-friendly interface
- Multiple languages available
- Provides real-time information on cryptocurrency markets for users
- Free demo-trading mode
- Low transaction fees
Cons
- Requires KYC for fiat transactions
- High minimum deposit requirements for certain cryptocurrencies
- Futures-oriented design takes longer for beginners to get used to
Final Score
- Services offered: 4/5
- Cryptocurrency support: 4/5
- Fees: 4/5
- Security: 4/5
- Review Score: 4/5
Summary
Given the amount of scams and fraudulent activities happening in the industry, BTCC with no tarnish against its name for over 13 years is an outstanding achievement. As per the website, the user’s assets are stored in multi signature cold wallets, furthermore the platform has KYC. This reduces the chances of illegal activities.
However, on the flipside some traders would not be open to sharing their personal details for KYC, hence, this could be a drawback. The app is also tailored slightly towards more advanced traders and might not be as easy to navigate for people who are trading for the first time. To compensate for this, BTCC offers a free demo trading mode and new feature releases such as copy trading to make things easier for beginners.
New joiners can also receive up to 10,055 USDT worth of welcome gifts by completing missions such as the ones below:
Registering – 10 USDT
Completing KYC – 20 USDT
Making a first deposit – 10 USDT
FAQs
With a track of zero fraudulent activities, the exchange has no tarnish against its name. Hence, the platform is safe for trading.
Click on “Register” on the top right corner of the screen
You can create an account using an Email ID or Mobile Number
Users can pay with fiat, or the listed credit or debit cards on the exchange.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
