Chinese cryptocurrency exchange BTCC has announced the official relaunch of its trading platform, while also suggesting that it will eventually offer its own token.
One of the world's longest-running digital exchanges, BTCC was originally launched in 2011 under the name BTC China. The company issued a statement on Monday, July 2, 2018, that a new program will be in play in which users will receive "reward points" for completing various tasks. These points can then be converted into BTCC tokens, which can be traded for a variety of cryptocurrencies.
The statement reads, "Referring users and many other activities will also provide you with the opportunity to earn points. All reward points are fully convertible to BTCC tokens upon release. Our reward point system will give you tangible benefits that you can use across the whole BTCC ecosystem."
BTCC is one of China's largest cryptocurrency exchanges. The platform offers support for most major assets including bitcoin (BTC), Ethereum ( ETH ), bitcoin cash ( BCH ) and Litecoin ( LTC ), all of which can be traded and paired with USD.
Executives are also offering perks to customers who get in the game early. For example, new customers will be exempt from both registration and transaction fees during their first three months of trading.
China's attitude toward cryptocurrency has not always been positive. The country instilled bans on both bitcoin and cryptocurrency-related websites during the first half of the year, and the regulatory environment has made things relatively difficult for exchanges and cryptocurrency businesses. BTCC was ultimately forced to suspend its operations last September due to new measures adopted by Chinese legislators that restricted commercializing cryptocurrencies.
BTCC later attempted to reposition itself in Hong Kong but was forced to give up control of its mining pool, trading platform and Mobi wallet to a Hong Kong investment firm in January 2018. Chinese regulation began to ease up in late May , however, which is around the time when BTCC initially announced that it was planning to reenter the crypto space.
Among the company's latest features are new crypto trading pairs and quicker deposit and withdrawal times. Representatives also spoke of the company's enhanced safety measures, stating, "BTCC's exchange is backed by seven years of operational experience, and has been optimized to include offline cold storage and SSL-encrypted traffic to protect your digital assets. We take security very seriously, and are proud of the fact that we have never been compromised."