BTCC Exchange Review 2024

The NFT Unicorn btcc-exchange-sponsored-cover BTCC Exchange Review 2024 Crypto News

BTCC is a cryptocurrency exchange launched in June 2011. Often regarded as one of the earliest crypto exchanges, the platform has existed since Bitcoin (BTC) traded below $30. Over the past decade, the exchange has established its presence in different countries across the globe.

BTCC enables users to buy, sell, and trade crypto assets like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and more. The platform also supports the trading and storing of fungible and non-fungible tokens.

Today, BTCC boasts over one million registered users. The company’s official website also reveals the exchange handles $75 billion in crypto trading volume within 24 hours.

That said, this BTCC guide explains how to get started with the crypto exchange. This article also explains some of the platform’s features, including its futures trading.

Here’s a quick outline to ease your navigation through the guide:

    • How to Register on BTCC
    • How to Deposit and Withdraw on BTCC
    • BTCC Futures Trading
    • BTCC Futures Copy Trading
    • BTCC Security Review
    • Five Reasons to Choose BTCC
    • BTCC NFT Marketplace
    • Frequently Asked Questions (FAQs)
    • Conclusion

How to Register on BTCC

Creating an account is the first step towards using the BTCC platform. The registration process is straightforward and only takes a few minutes. We will explain how to create an account using the exchange’s web version.

Step 1: To get started, go to the official BTCC website. On the top right corner of the page, you’ll find the “Register” option, as shown in the image below. Click on it to kickstart the registration process. This simple step sets the foundation for your crypto trading adventure on BTCC.

Register now and get started with a 10 USDT coupon!

Step 2: Next, you must provide a valid email address and create a strong or unique password for your account. To complete the registration process, you must retrieve the confirmation code in the email and input it on the platform.

There is also a verification process involving dragging a slider. This additional step aims to authenticate your account and boost its overall security.

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Step 3: After initial registration, you must undergo a Know Your Customer (KYC) to access BTCC’s full suite of products. It involves confirming your resident country, submitting a photo of your identity document, adding your mobile number, and taking a selfie. These actions aim to contribute to the overall security architecture of your BTCC account.

Users can implement security measures like two-factor authentication (2FA) to protect their accounts from hackers.

How to Deposit and Withdraw on BTCC

After account creation and protection, you can begin crypto trading activities on your BTCC account. The platform offers several deposit methods, such as bank transfer, cryptocurrency, debit card, and credit card. This article will focus on crypto deposits and withdrawals on BTCC.

How to Deposit on BTCC

Choosing the right cryptocurrency is the first step to deposit into a BTCC account. Selecting the wrong crypto asset or underlying network can cause permanent asset loss. Here is a quick walkthrough of the depositing process:

Step 1: After logging in, navigate to the top right side of the page and select “Assets,” as shown in the image below.

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Step 2: From the drop-down menu, click on “Deposit.”

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Step 3: Select the cryptocurrency you wish to deposit and the preferred blockchain network for the asset. In the example below, we selected USDT as the preferred crypto and the Ethereum network (ERC20) as the underlying blockchain. Copy the wallet address (a combination of random letters and numbers) assigned to your account.

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Always ensure you select the right assets and network before initiating the transfer.

Step 4: Enter the wallet address, amount, and underlying network in the withdrawal page of the separate crypto exchange or crypto wallet holding the asset. Binance, another crypto exchange, will be used as an example of the different platforms from which the crypto asset would be sent.

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Step 5: The cryptocurrency will be transferred to the BTCC account in minutes, depending on the network’s speed. Remember to buy your crypto from reliable sources to avoid being phished.

How to Withdraw on BTCC

Here’s a simple step-by-step process to withdraw:

Step 1: Navigate to the top right of your dashboard and select “Asset.”

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Step 2: Like the depositing process, select the crypto asset and the underlying network you want to use for the withdrawal. Then, paste the wallet address and input the withdrawal amount before submitting your request.

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Step 3: Wait for the withdrawn assets to be sent to the wallet address provided. Depending on the blockchain, this process takes a few seconds to several minutes for transactions to be confirmed.

BTCC Futures Trading

BTCC exchange offers two kinds of trading: spot trading and futures trading. Spot trading involves buying or selling a cryptocurrency at its current market value. Futures trading, on the other hand, is a type of derivatives trading in which traders bet on the future price of a crypto asset. Futures trading enables users to speculate on a coin’s value without owning the asset.

This guide will extensively discuss BTCC’s futures trading. The exchange offers over 300 assets in its futures trading market, allowing traders to trade digital assets like BTC with up to 225x leverage. Additionally, the platform offers tokenized futures, including gold, silver, and US stocks, providing diverse trading opportunities for users.

To use the BTCC futures trading functionality, users must register, verify, secure, and fund their accounts. The next step is to start trading. Here, we will focus on trading BTC. Below is a breakdown of how to trade futures on BTCC:

Step 1: Navigate to the Trading section on the BTCC platform. On the mobile app, the trading section is located in the lower part of the home page, as shown in the image below:

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Step 2: Select the type of crypto futures to trade. The exchange offers over 300 coins and trading pairs, as stated earlier. For this guide, we will choose the BTC/USDT trading pair as shown in the image below:

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Step 3: Choose the order types for the trade. These are accessible through the Market Order, Limit Order, and SL/TP Order on the main trading page.

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Market Order: This involves buying or selling a cryptocurrency at the best available price at the current time.

Limit Order: This refers to buying or selling a cryptocurrency at a price the trader sets. A buy order is executed when the limit price is attained or lower, and a sell order is executed when it is reached or higher.

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SL/TP Order: SL means stop loss. TP means take profit. Traders use this feature to show how much they are willing to risk while trading. By setting a stop-loss, the trader indicates the lowest price the traded asset or pair will attain before being automatically withdrawn to reduce losses. Conversely, the take-profit feature involves setting a fixed peak price the asset will reach before being withdrawn, thus locking in profits for the trader.

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Step 4: Choose the preferred leverage. Traders use this feature to increase the quantity of their trading assets while depositing smaller amounts. The aim is to lock in as much profits as possible in cases where market volatility is favourable. BTCC allows BTC traders to trade with up to 225x leverage.

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Step 5: Choose the quantity of crypto to trade in the provided field, as shown below.

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Step 6: Select Open Long or Open Short to execute the trade.

A long position involves trading a cryptocurrency, hoping its value will rise. It capitalizes on the idea of buying low and selling high. On the other hand, a short position entails selling a cryptocurrency to reacquire it at a lower price.

Check out BTC futures now with up to 225x leverage on BTCC.

BTCC Futures Copy Trading

Copy trading is a feature that allows beginner traders to copy part or all of the trading actions of experienced traders. BTCC offers this feature in its Futures market. The feature is accessible on the crypto exchange’s mobile and web versions. Users access the copy trading functionality from the Futures section on the web version, as shown in the image below.

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Once opened, users can choose to copy their desired pro trader. As shown in the image below, the portfolios of these experienced traders are displayed to guide each user’s decision.

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BTCC Security Review

Before investing in a crypto project, users must verify the exchange’s security strength. This is due to the rise in incidents of hackers exploiting crypto projects to steal millions of dollars worth of users’ assets.

Bearing this in mind, BTCC brands itself as an exchange committed to providing users with the highest level of security in the industry, enabling them to trade crypto easily and conveniently. In fact, the crypto exchange prides its badge as a firm that has never experienced a security breach since its debut. It is possible because of the cohort of security features implemented on the platform.

To ensure its customers’ safety, BTCC adopts various security measures, such as segregated 1:1 storage of user funds. It involves storing users’ assets on a one-to-one basis. With this mechanism, BTC will be stored if users deposit BTC; USDT will be stored if users deposit USDT. Users’ funds and company assets are entirely segregated from each other.

The platform stores customer’s assets in a multi-signature cold wallet for enhanced security. A cold wallet is an offline digital wallet with no internet or smart contract interaction, reducing the risk of online threats from malicious actors.

In addition to safeguarding users’ assets, BTCC has established a set of money laundering preventive (AML/CFT) measures. Bad actors capitalize on cryptocurrency transactions’ private and anonymous nature to launder illicit funds. To combat this, BTCC demands users verify their identities using the identity verification process before depositing and withdrawing crypto assets. Admittedly, the measure may seem inconvenient to some users. But, its advantage outweighs its demerit.

Another security measure taken by BTCC is ensuring secure communication and login in the platform through encrypted networks. The platform uses SSL encryption to protect users’ personal data. Also, all sensitive account information is encrypted at the data and system levels, and access is monitored strictly.

BTCC’s security further strengthens users’ security through two-factor authentication (2FA). Users can set up this verification method using their phone, email, or Google Authenticator. For enhanced protection, the BTCC web version includes a login history section that allows users to see when and where they logged in.

It is worth noting that the platform locks users’ accounts if they enter the wrong password several times while logging in. An email or SMS notification is sent to the customer when this happens to protect the account from hackers.

There is also a penetration test whereby the platform’s team of experts seeks to strictly implement internal and external system audits to ensure BTCC is free from hackers.

Furthermore, BTCC has not issued any tokens under its name and is completely self-funded. The exchange said they did not invest or participate in any staking or DeFi project. Therefore, the sale of tokens or extreme market conditions will not affect the firm’s financial situation. Users may withdraw their assets at any time.

Why Choose BTCC?

BTCC is known as the longest-running exchange in the world. Since its inception, the platform has weathered the ups and downs of numerous bull and bear markets without a single hack accident report, making it one of the most trusted exchanges in operation.

The firm aims to cater to the needs and demands of both novice and seasoned traders with its solutions. Here are five reasons to use the exchange:

Available Cryptocurrencies on the Exchange

As a leading crypto exchange, BTCC offers over 300 cryptocurrencies on its platform, enabling investors to diversify their digital portfolios and explore various investment opportunities in the digital currency market. The platform also features access to newer but equally promising alternatives, such as Litecoin (LTC) and Ripple (XRP).

The selection of tradable coins is expected to grow as BTCC is constantly dedicated to innovation and accepting new but promising digital currencies to make itself accessible to a broad range of traders.

Ease of Use

When selecting a good crypto exchange, ease of use is a significant factor to consider. The BTCC app offers an intuitive and user-friendly interface suitable for both a beginner and a seasoned trader, making trading on the platform streamlined and straightforward. It includes functions like price alerts and real-time market data, enhancing the trading experience. Security measures such as two-factor authentication and cold storage for funds are also implemented in the app.

The platform has a capable charting system and displays data like a cryptocurrency’s 24-hour price change, 24-hour low/high, and daily volume. These features make it easy to use and accessible to the vast majority.

Reputable Customer Service

BTCC enjoys a good reputation in terms of customer service. The exchange provides support to the users through live chat and email on its website. It has official profiles on various social media platforms, including X (formerly Twitter), LinkedIn, Instagram, YouTube, and Facebook. The website also offers a section with blogs, news, and support centers for users seeking assistance.

When users experience problems or have complaints while using the crypto exchange, they can get timely customer support via email and live chat. BTCC offers 24/7 online customer service.

BTCC Trading Features and Tools

BTCC offers a wide range of trading services, including spot trading, futures trading, and margin trading. It provides high-leverage options for various trading pairs, making it suitable for different types of traders.

Welcome Bonus and a Variety of Fun Campaigns

BTCC currently offers different campaigns. Investors can participate in these campaigns to win exciting rewards. For example, new users can earn rewards up to 10,055 USDT by completing relevant missions such as registration, identity verification, making first deposits, and cumulative futures trading volume. Existing users can earn up to  1,255 USDT per referral when they invite their friends to join BTCC.

BWTC 2024 Campaign

BTCC hosts the BTCC World Trading Competition (BWTC) 2024 campaign. Through the campaign, the exchange allows the most active users to compete for rewards from a total prize pool of 10 million USDT. The exchange partitions this competition into Individual trading, Copy trading, and Referral.

Under the Individual trading competition, traders compete for a share of 1.4 million USDT in daily, weekly, and monthly rewards. Based on their ranking on the leaderboard, each user can earn a staggering 26,700 USDT monthly. Daily rewards are received within three business days, and weekly rewards are transferred in five working days. Winners receive the monthly rewards within ten business days.

To benefit from this profitable campaign, users must have a trading volume of approximately 5,000 USDT for the daily prize pool, 20,000 USDT for the weekly prize pool, and 40,000 USDT for the monthly prize pool.

Under the Copy trading competition, users can showcase their trading abilities as lead traders or follow top traders as copy traders for a share in a prize pool of 200,000 USDT. To qualify for the rewards, lead traders must have at least 500,000 USDT in assets under management (AUM) or a minimum of 10 copy traders. Copy traders must have a minimum copy trading volume of 200,000 USDT or at least 50 copy trades to be eligible for the rewards. Winners will receive the rewards within ten business days.

BTCC makes the third tier of the BWTC campaign simple for users unfamiliar with crypto trading activities. The Referral competition requires inviting friends to register a BTCC account and deposit a minimum of 200 USDT. Participants must have at least two valid referrals to qualify for a share in a prize pool of 65,000 USDT. Invited friends do not need to register for the BWTC 2024 campaign. Rewards are distributed within ten business days.

Aside from the BWTC 2024 campaign, BTCC runs a weekly giveaway to its followers on X (formerly Twitter). Follow BTCC on its official X handle to partake in this rewarding campaign.

Frequently Asked Questions (FAQs)

Is BTCC Safe?

Judging from the exchange’s record since 2011, BTCC has proven to be a safe crypto exchange. It has recorded no report of fraudulent activities involving the platform’s backend or users’ accounts. The crypto trading platform provides more safety to users by implementing compulsory know-your-customer (KYC) and anti-money laundering (AML) policies. It also offers added security measures like two-factor authentication (2FA) for actions like withdrawals.

Does BTCC Require KYC?

Yes. Users must complete the Know Your Customer (KYC) procedure before using BTCC products. This procedure entails submitting valid identification documents and a facial recognition scan. It is often completed within a few minutes. The advantage of this process is that it fortifies the exchange’s security and meets regulatory requirements.

Users who do not complete their KYC cannot make deposits as their accounts will have a lower daily withdrawal limit. Note that those who provide a valid ID without a facial recognition scan will also have a limited withdrawal capability.

Does BTCC Have a Mobile App?

Yes. BTCC has a mobile app for iOS and Android users. The mobile app is downloadable via the exchange’s homepage. The mobile app and web version are similar since both have the same features and functions.

Will I Pay Trading Fees on BTCC?

Yes. Like many other centralized exchanges, BTCC charges a fee for trading activities. These fees vary based on each user’s VIP level, which is unlocked based on the user’s available balance. The fee rates are outlined on the BTCC website.

Can I Access BTCC From the U.S.?

Yes, you can. BTCC’s website shows that it has acquired a crypto license from the United States Financial Crimes Enforcement Network (FinCEN), making the crypto exchange eligible to offer its services to U.S.-based investors.

Meanwhile, BTCC’s User Agreement document reveals that countries and entities sanctioned by the U.S. and other countries where it is licensed are prohibited from using its products.

BTCC vs. Binance: What’s the Difference?

BTCC and Binance are two separate cryptocurrency exchanges. BTCC is one of the oldest active Bitcoin trading platforms in the industry. It was launched in June 2011, while Binance started operations six years later, in July 2017.

They also have varying numbers of users and hold different rankings in the list of centralized exchanges. There are some variations in the products offered by both exchanges.

Overall, BTCC and Binance have similar features, enabling users to buy, sell, and trade digital assets. Users must weigh the functionalities and risks of both exchanges before deciding which to invest in.

Conclusion

BTCC prides itself on being one of the earliest crypto exchanges in the industry. With a switch in administration, BTCC has become an accessible cryptocurrency exchange worldwide. The platform also offers diverse crypto products designed with over a decade of experience in the crypto market. Despite these feats, it is vital to perform due diligence before using BTCC.

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Source: CryptoPotato