BTCC (formerly BTC China) is one of the oldest Chinese exchanges, in operation since June of 2011–so nearly on their fifth anniversary! They tested out a number of different fee structures–from a small fee on both ends, to a maker-taker system, to a system that seems to be popular among Chinese exchanges: no fees. BTCC works with Litecoin as well as Bitcoin, and runs a number of side-operations, including a mining pool.
- Pure 0% fees, for buying and selling, making and taking
- 0.38% fee on bank withdrawals
- Good volume thanks to the 0% fees, like Huobi–BTCC regularly does over 100,000 BTC/day in just BTC/CNY.
- LTC/CNY commonly between 50-100k/day.
- Based in Pudong, a Special Economic Zone inside of Shanghai.
- 0% fees make trading a zero-sum, rather than a negative-sum, game.
- Decent legitimacy, apparent acceptance by Chinese government. Bobby Lee is still alive, after all.
- One of the three largest names in Chinese BTC.
- It’s in China
- Not sure how hard it is to deposit from the US, but I imagine you can just scoot Bitcoins to them.
- Withdrawals will also need to be in BTC, I imagine, if you’re not Chinese
- Gotta learn CNY-USD conversions.
Arbitrary BTC China Review Ratings:
Ease of Use: 7/10
Trading Utility: 7/10
Customer Service: 6/10
Would I recommend it to my mother? No.