Dan, Chief Research Officer of BTCC interviewed by Nvxia Blockchain
During the live broadcast session, BTCC CRO Dan introduced the history of BTCC and addressed the team’s commitment to crypto exchange industry.
The Host : Nvxia Chen, founder of Nvxia Blockchain
The Guest: Dan, CRO of BTCC
Hello everybody. Dan, Chief Research Officer of BTCC is invited today, let’s welcome him. As we all know, BTCC is the world’s longest-running crypto exchange. Before we start, let’s invite Dan to introduce himself and BTCC.
Dan: I’m Dan, CRO of BTCC, from Taiwan. I worked in finance before I got into the crypto world in 2013.
BTCC is a bridge that connects the traditional finance and the crypto field. Bitcoin has been created less than a decade. However, the successful model of international finance has been through the ordeal which lasted for decades. Therefore, we put the successful experience of international finance into the field of cryptocurrency, breaking the situation that users have no choice but to accept the unfair rules made by the crypto exchanges.
BTCC as the world’s longest-running crypto exchange for 8 years, we want to lead the cryptocurrency exchange industry to provide a more regulated and fairly investment environment.
The host: It will be a positive impact on the field if BTCC duplicates the successful experience of traditional finance into the crypto field. However, I would like to ask if BTCC equals BTC China?
Dan: BTCChina was founded in 2011, the first crypto exchange in China. After several years of hard work and growth, we are not only a crypto exchange that we provide integrates blockchain services, such as crypto wallets, payment services, and as well as mining pool. Therefore, we need an international brand to provide better services for users all over the world.
That’s why we rebranding our name from BTCChina to BTCC in 16th September 2015, and launch the domain of btcc.com.
The major medias like Coindesk also reported our rebranding event. Actually, BTCC is well adopted by the global market, even Forbes Magazine has interviewed with BTCC.
The host: Is it true that BTCC was acquired by a Hong Kong blockchain investment fund?
Dan: There had been a difficult time in the crypto field in China back to September 4th, 2017.
As for the outside world, BTCC has been acquired by a Hong Kong blockchain investment fund in January 2018. For us, who worked at BTCC, everything is unchanged. The BTCC logo, the engineers, the team, and assets remain unchanged. BTCC company upgrades to BTCC group, and establishes new offices in the United Kingdom and Hong Kong.
The host: What the relationship between BTCC and the co-founder of BTCChina, Linke Yang?
Dan: As I talked before, “BTCChina” is an old name, and rebrand as BTCC since 2015 to reach on a global scale. However, Linke Yang, the co-founder of BTCChina still maintains feelings about the abandoned name, and currently retained the BTCChina brand only.
However, He holds no retainer over BTCC’s team or assets in the company.
The host: So, what’s BTCC focus on now?
Dan: BTCC focuses on providing a fairly crypto contract trading platform. As the world’s longest-running crypto exchange runing for 8 years, BTCC always put the users at first place, providing better products and services.
You’ll see people talking about our new product — BTCC Perpetual Contract.
The host: Seems BTCC’s new product will soon be presented to the public. There are lots of crypto exchange in the market, what’s the advantages of BTCC over other crypto exchanges?
Dan: As mentioned, BTCC is going to duplicate the successful experience of traditional finance into the crypto field to solve the problems.
First, liquidity, BTCC provides top-end market depth to make sure the transaction will process with the best price for the users. Most of the crypto exchange lack of liquidity that large orders can only partially fulfill.
Second, Market fairness. BTCC index is weighted quotation of the Spot Price of 8 leading crypto exchanges, avoiding the users’ contract being forced-liquidated due to the market manipulation of one or two exchanges.
BTCC has always led the way in innovation as well. BTCC is the first to add spot delivery to its perpetual contract to help enable users to choose either cash or spot delivery. Besides CME, other crypto exchanges don’t have the ability for physical delivery of a position.
Zero clawback. Most of the contract platform has a full account clawback system that users will share the forced-liquidated loss. The rule is unfair that forces investors to bear the loss from others.
BTCC has top risk management team and tens of thousands of BTC are reserved as a risk insurance fund, covering the margin call loss.
In addition, we invest a lot in building a professional trading system to provide continuous services .
The host: These points answered my concern. I have another question that 100 times leverage sounds risky, will BTCC provides leverage trade?
BTCC offers 5x, 20x and 100x leverage. Higher leverage provides the efficiency of funds to investors, it makes the investment more flexible.
Making good use of leverage tools is advised. The account with an insufficient margin will be forced to close the order when the market fluctuates fiercely.
In comparison, the robot trading is forbidden in the BTCC platform. Every quote is reliable and allowed to be inspected. Market manipulations will not happen in BTCC by design.
The demo account is also equipped. It helps clients to familiarize themselves with the platform.
The host: Has BTCC ever planned to launch tokens? Since many exchanges have launched their platform tokens.
Dan: BTCC had launched tokens before but soon repurchased all in 2018 due to the market supervision and law regulations. Even though the bitcoin’s market value was gloomy at that time. BTCC, as a reliable crypto exchange insisted on repurchasing all the tokens, proves that BTCC puts clients’ benefits in the priority.
The host: What are the new prospects of BTCC?
Dan: BTCC closed its spot exchange and focus on perpetual contract products. The pain point for investors is that there isn’t any fair and credible contract trading platform on the market. BTCC strives for being an innovator and a pioneer to create a more fair and transparent crypto trading platform to clients.
The host: The last question is for the BTCC promotion event. Is it true that deposit 5,000 dollars get 5,000 dollars rewards? Are there any extra requirements?
Dan: When new clients deposit 5,000 dollars for the first time, they will get 5,000 dollars added into their account as rewards. However, a certain amount of trades needs to be completed by clients in order to claim the rewards.
Bitcoin rebate is another promotion. As long as clients deposit 2,000 dollars and complete 250 lots valid trades will get 0.025 bitcoin as rewards. It shows that BTCC has sufficient storage of bitcoins and the capacity to deliver physical bitcoins.
The host’s summary:
Today BTCC’s sharing is very sincere and has a high level of industry. BTCC is a real big brother of the crypto trading field, and its product is trust worthy. From the aspect of a normal crypto trading user, we all need a crypto exchange with liquidity and transparent market.
Read the original Chinese version: