BTCC is one of the oldest cryptocurrency exchange in the market. The broker is situated and operational in China. However, BTCChina no longer serves Chinese traders but it’s subsidiaries BTCC DAX and BTCC USD are running the show. The broker claims to offer crypto to crypto and crypto to fiat trading. Also, other services like Bitcoin Mint, Mobile BTC Wallets, and others. All the services and other subsidiaries are accessed with a single BTCC account. Additionally, the broker BTCC provides one of the largest crypto mining pools in the world. However, we have identified several problems of BTCC and they are presented in this BTCC review.
The broker claims to have higher security and reputation in the market. The broker was established in 2011. And has a good track record. The popular cryptos like BTC, ETH, ETC and BCC are traded. The broker BTCC keeps all the cryptos in the cold storage for security. The broker provides a large trading volume and has deep liquidity. Deep liquidity is directly proportional to safer trading. The broker supports fiat currency trade against cryptos. It also accepts payments via bank wire transfers and credit cards. Competitive trading fees are charges by BTCC. They are 0.1% to 0.2%. Most of the crypto brokers charges around 0.20%. However, the market maker is not charged. The withdrawal fees at BTCC are relatively low. And it gives additional advantages to BTCC. There are two different trading platforms are provided by BTCC to facilitate Crypto to Crypto and Fiat to Crypto trading. These are equipped with technical indicators, charts, add ons. It also provides a mobile-based platform. The broker also provides BTC Minting facility and Mobile Digital Wallet.
The disadvantages of BTCC are as follows. Like most of the crypto broker, the BTCC is also unregulated. And it is a major problem. In times of scam, no one will be held guilty. Limited financial instruments are provided in the product portfolio. As a matter of fact, the broker fails to provide marginal trading. It means no leverages are provided. That in return provide no profits. The BTCC does not provide anonymous trading.
Is BTCC scam or legit?
The BTCC is an offshore crypto broker that provides its services without license and regulation. Margin trade is missing and limited instruments are present in the product portfolio. Anonymous trading is not supported by BTCC. Therefore BTCC is a potential scam cryptocurrency broker.