The number of crypto marketplaces available overwhelms beginners. We provide a detailed review of the BTCC platform, its payment methods, supported assets and countries, fee structure, security, liquidity, and why it is suited for beginners in 2021.
BTCC is one of the oldest cryptocurrency exchange platforms in the world and has managed to remain in elite territory and keep pace with the wave of the cryptocurrency market. The BTCC exchange platform provides a seamless and rewarding experience for those who use it for cryptocurrency trading. BTCC does not have much currency support under today’s standards but it facilitates trade in the world’s two largest cryptocurrencies, Bitcoin and Ethereum as well as their most popular forks Bitcoin Cash and Ethereum. You can find out more about BTCC here.
How many cryptocurrencies are available to trade?
BTCC only supports a limited range of crypto assets on the platform. The supported assets are:
- Bitcoin Cash
There are also some altcoins supported by BTCC that are paired with Bitcoin and Ethereum. As the exchange is growing, it is planning on adding more crypto assets to its list. You can also trade the following crypto assets on the BTCC mobile app:
BTCC offers a simple trading system with an interactive graph to show you all the relevant information for making trades. It offers only a limited crypto-asset library but provides great liquidity and functionality.
What are the Payment Methods Supported by the Exchange?
BTCC offers a lot of versatility in this area and supports many kinds of payment methods such as:
- Bank Transfers: BTCC offers the facility of both adding and withdrawal funds using fiat currencies.
- Credit/Debit Cards: You can also use a debit/ credit card to add funds to your BTCC account.
- Crypto Wallets: BTCC also allows users to buy crypto assets directly using their existing crypto assets from a wallet. The supported cryptocurrencies for buying of assets are limited to major cryptocurrencies only.
BTCC charges a nominal fee as compared to its competitors.
- There is a 0.06% of daily settlement closing fee and a 0.6%-0.10% weekly settlement closing fee.
- BTCC charges a low fee of 0.1%-0.2% on trades.
- BTCC charges a closing fee for perpetual swap commissions ranging from 0.12%-0.20% and a Rollover fee of 0.20%-0.35%.
- BTCC also charges a withdrawal fee of 0.0015 using Bitcoin and a 0.30% (Minimum) on USD withdrawals.
- The mining pool fee is also nominal. 4% for Mining of Bitcoin Cash, Litecoin, and Super Bitcoin and only 1% for Bitcoin.
Comparing the average trading fees on BTCC, taker and manufacturer fees are well below the industry average. You can check the details about these on BTCC’s fee page.
Are my funds safe – What if the exchange gets hacked?
Yes, your funds are safe on BTCC. BTCC has been one of the top exchanges since 2011 and implements the best security for the protection of user assets. Some of the reasons that BTCC has been a trustworthy platform include:
- Secure History: BTCC has been in the game for a decade and has never been hacked. The exchange provides a simple but great experience backed up by security measures.
- Cold Storage: BTCC protects user assets by keeping their funds in cold storage to prevent hacks.
- 2FA: BTCC also offers Two-Factor Authentication for extra protection.
- Verification Process: BTCC implements a tough verification process that needs name, email, date of birth, country, signature, proof of address, electricity & water bill, and optional secondary verification via Google or SMS.
- Biometrics: The BTCC mobile app also allows additional protection of your account using fingerprint or face recognition.
Does it provide a smooth user interface?
BTCC is also one of the most lucrative platform exchanges and uses a simple interface for a hassle-free process. Both the exchange as well as the mobile application is very easy to use.
- The online exchange offers an interactive graph to indicate prices. You can also switch the style of the graph to display the information in lines, bars, areas, etc. There is a column on the right side for easy viewing of the order book and market trades and the bottom of the page shows your order history. You can view BTCC’s online exchange interface here.
- The mobile application is user-friendly and allows users to trade or add funds within a few clicks. You can also add a security layer using your device’s built-in facial or fingerprint scanner.
BTCC also has a specialized technical team that oversees the exchange and monitors the trading environment to ensure the best user experience that can be contacted via email or online form.
Order Types available on BTCC
- Market Order: An instant buy/sell order at the current best price.
- Pending Order: Allows users to add a specific value at which the order will be triggered. These expire after the validity period if the specified value is not reached.
- Limit Order: Allows users to set an order at a specific price above or below the current price for the trade to maximize profit or minimize loss.
- Stop Order: Allows users to place an order to buy or sell a crypto asset when it reaches a certain price.
You can find out more about all order types and how to place them on BTCC’s blog.
Does the exchange provide enough liquidity?
Yes, BTCC provides great liquidity for customers. Liquidity is the ease by which a crypto asset can be converted into another crypto asset or fiat currency without a major price effect. BTCC allows all orders to be taken up to 5000 BTC at best transaction prices. BTCC offers a low limit on transactions that can be initiated with 3 USDT (minimum) and also offers leverage of up to 150x on USDT contracts to ensure profitable trading pairs for both hodlers and day traders. BTCC also charges a low fee. This attracts many users to the exchange. BTCC also has a high trading volume and provides enough liquidity for users.
BTCC has been praised for its reliability, security, liquidity, and the additional services it provides to its users. BTCC is considered one of the best exchanges for trading popular digital coins such as BTC and ETH on the platform. The limited choice of crypto assets is important to note as the BTCC Exchange does not have a weakness. It specializes in creating a simple trading experience with few coins, which is desirable for a large number of users and great for beginners.