AMA Recap on BTCC Latest App
Dan: Hi everyone, my name is Dan and I’m the Chief Research Officer of BTCC. I worked in finance before I got into the crypto world in 2013. Thanks for everyone to take part in this AMA session. We hope we will provide a better experience for all of the users around the world. Let’s begin the AMA session!
Q1. With multiple fee structures (minimum deposit, trading fees, withdrawal fees), how does BTCC plan to attract users in today competitive market? From @Ajzizou
Dan: Let me first explain the current fees structure of BTCC.
- First, we have the 100 USDT minimum deposit, and zero deposit fee.
- Second, we promote our weekly contract which charge zero fee for open a position and 0.06% fee for closing a position. Our weekly contract fee is considered to be competitive in the market.
More detail on our fee: https://www.btcc.com/en-US/fees
- We charge 5 USDT for USDT withdrawal fee.
Our low trading fee has always been the main driver to BTCC’s competitive advantage. We are confident that our referral program and the upcoming BTCC 9th Anniversary will be able to attract users across the globe.
Q2. What is the technology that BTCC used to increase security and ensure the security of user assets? From @Pabloescobardon
Dan: As seen from the internet, BTCC has never experiencing any hack or security breaches since the exchange launched 9 years ago. BTCC will continue to put security as the top priority for our future operation. We are currently employing multiple encryption protocols (DES, AES, RSA), and we based on the SSL communication protocol to ensure communication security. We also use the encryption technology for our app protection as well as employing several data encryption algorithm such as MD5 and SHA1 to make sure data base for user’s password are safe. We also have a very strict rule for internal data and financial auditing guidance which add an extra layer of security.
Q3. What unique features is BTCC endowed with in order to facilitate the user’s work, and what bonuses and rewards are there in BTCC? Is customer identification required in the BTCC app or not? In some third-party applications, this procedure is required, which is not very convenient! From @bitboys
Dan: 1. Compared to other exchanges, the trading product of BTCC is much more user-friendly and we provide a fairer environment for users. The BTCC team has a very rich background in traditional finance. For an undeveloped market such as cryptocurrency derivative, we are able to provide a much fairer and smooth experience to our customer.
2. Our trading fee is very low and we provide unparalleled depth for user to trade which has always been our competitive advantage.
3. One of the advantages for KYC is that it could help keep money laundering and financial crime under surveillance. Therefore, the larger the quota, the higher the KYC level that need to be performed. However, user can still trade without KYC, but the withdrawal amount will be limited. For more information please contact our online customer service.
Q4. Now that the Apps is launched, do you consider the BTCC ecosystem complete? If not, what’s still missing. From @Algojal
Dan: BTCC has been growing steadily since we launched 9 years ago. I think that the missing piece from our ecosystem after we launch the app is the internationalization of our derivative product. At the moment, we have already made a huge step, and there are more users joining our platform than we have expected. We will continue to improve and promote the internationalization of our product.
Q5. Any plans for external third-party audits to verify the amount of crypto you have vs what customers balances show is accurate on app? From @Putramalu66
Dan: Any amount that have shown on the app by users who deposit, make profit by trading and bonus from the campaign are all real amount. At the moment, we are cooperating with some well-known third-party auditors in China on auditing transaction data and asset display. If we see a better third-party auditor, we will consider them for future cooperation.
Q6. Where is the liquidity on the BTCC exchange currently coming from? Does it come from within the new app? From @Jungsin70
Dan: Since BTCC was launched 9 years ago, we have many big whales (holder of more than 10000 BTC) cooperating with us to provide “unparallel depth” to make sure all transaction will be 100% completed on time. Everyone can try this unparallel experience by trading on our demo.
Q7. Is BTCC exchange provides any insurance feature where if exchange were hacked/ suffered from security breach, then, user’s fund will be recovered? From @sam_cryptotrader
Dan: Regarding hack and other security breach, BTCC never fail to resist malicious attack, and as our technology matured. We are looking to become the world safest cryptocurrency exchange. (BTCC has never get hacked since it launched 9 years ago)
Right now, BTCC was working on insurance fund, if there is a hack occur in the future, we are confident that user’s fund will not be affected.
Admin: Thank you Dan for your informative sharing on BTCC App and everyone that involved. We will have 9th Anniversary celebration on next month. Stay tuned for our 9th Anniversary campaign!
