BTCC to launch new exchange

The prominent Hong Kong cryptocurrency exchange BTCC is planning to open a new platform, as reported by several press sources citing the official announcement. The new establishment will be upgraded in comparison to the old trading desk, as the management of BTCC assures.

This BTCC Exchange will allow to trade Bitcoin, Ethereum, Bitcoin Cash and Litecoin, the list may become expanded, as the announcement contains hints about new trading pairs in the future. The serious advantage of the first three months will be the total lack of fees for trading.

Journalists speculate that the mentioned new security measures were connected with the hack of Coincheck - the leadership of BTCC does not want this to repeat with their platform. The theft of vast amounts of NEM funds has been made from the hot wallets, while BTCC promises cold storage. The difference between the two is that cold storages are keeping the cryptocurrency funds offline.

BTCC has been affected by the Chinese crypto exchange ban: it had to move operations to Hong Kong and Great Britain. The prohibition has been implemented last year which has seriously reshaped the cryptocurrency market of China.