BTCC Review: Best Exchange for Crypto Futures Trading
By:C, FionaBTCC is a registered exchange with crypto licences in US, Canada, and Europe. Over the past 11 years, BTCC has provided safe trading services with top-notch technology through the ups and downs of many market cycles.
The crypto space is growing at a rapid rate as more people start investing their money and finding all of the benefits it brings to the table. This means not only that new investors are pouring in but also that old investors continue to look for new ways to improve their investment strategies.
When it comes to strategies, futures have become one of the most popular and powerful tools at the disposal of crypto traders. By allowing you to gain more exposure to your favorite assets, the allure of crypto futures is too strong to resist.
If you are looking to learn about BTCC, chances are that you are interested in trading cryptocurrency futures. If this is the case, let us tell you all about what BTCC is, what it offers, and if it may be the right fit for you.
About BTCC
BTCC (“BTC & Crypto”) is a popular cryptocurrency futures exchange founded in June of 2011, making it one of the oldest platforms in the space.
Born from the mission to make crypto trading fair and reliable, the exchange focuses on being as user-friendly and transparent as possible.
So far, BTCC has reached over 1 million monthly active users with a consistent 24-hour volume of more than $5 billion.
Over the past couple of years, the exchange has been consistently improving the quality of its platform while also adding new features. Most users who choose the platform do so because of its liquidity, reliability, ease of use, and security.
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BTCC Services
BTCC does not stand out from the competition when it comes to services as these are quite limited in terms of the offering.
However, those services covered by the exchange are done so in an exceptional way. Most crypto traders have found buggy and overly-complicated interfaces when using features in crypto platforms that seek to do it all… Well, this doesn’t happen with BTCC.
Let’s take a look at what BTCC has to offer.
Futures Trading
The exchange limits itself to providing solutions to investors looking to acquire, sell, and trade cryptocurrency Futures. This means that services like staking, pool mining, spot trading, and many others are not available.
However, BTCC offers a variety of Futures trading options that are sure to bring flexibility to crypto Futures traders.
Daily Futures, Quarterly Futures, and Perpetual Futures are all available to BTCC users. These can be used in conjunction with leverage or without it, with support for Market/limit/SLTP orders.
- BTCC offer leverage as high as 150x for daily futures contracts.
- BTCC’s huge varieties of futures suit the trading habits and goals of beginners and experienced traders.
- Coin-margined futures. Users can trade futures using USDT or cryptos like BTC, ETH, and XRP.
- Large liquidity. Large orders of up to 300 BTC can be executed at the top price levels.
Buy Crypto
BTCC offers its users the opportunity to buy cryptocurrency using Fiat currencies. This is done in partnership with providers like MoonPay, providing more flexibility.
The minimum amount for buying crypto is 200 USDT and doing so is as easy as providing your payment information in any other service.
Convert Crypto
While BTCC is not a crypto-to-crypto exchange, the platform allows its users to easily convert one cryptocurrency into another.
This process is as easy as buying or depositing cryptocurrency if you don’t have any balance, followed by choosing which currencies will be used for the conversion and the corresponding amount.
The cryptocurrency will be converted instantly with no hassle at all.
Supported Trading Pairs
BTCC offers a selection of highly liquid cryptocurrency trading pairs. We recommend you check the latest information here as the list of supported cryptocurrencies can change at any moment.
Supported Fiat Currencies
When it comes to supported Fiat currencies, you will find a similar limitation. It is important to note that this has to do with the platform’s compliance with regulatory requirements in several locations.
BTCC supports USD and other major currencies. Users can buy cryptocurrencies with their credit/debit card on BTCC.
Users can only deposit USDT, XRP, USDC, ETH, BTC, ADA, and LTC to the platform. However, users can convert their crypto to USDT to trade USDT-margined futures and BTC, ETH, XRP to trade coin-margined futures.
BTCC Fees
As with every crypto platform, BTCC requires its users to pay fees in order to sustain its operations. In the case of BTCC, the fee structure is extremely transparent and easy to understand.
Users will incur fees when withdrawing crypto and trading, with deposits being free. You will also be expected to pay fees when buying cryptocurrency, but these will depend on the provider you choose to use.
Withdraw fees vary for every supported cryptocurrency, just like the minimum withdrawal. These fees will be charged in the same cryptocurrency you are withdrawing and will be as follows:
- Bitcoin (BTC): 0.0004
- Ethereum (ETH): 0.005
- Litecoin (LTC): 0
- Ripple (XRP): 2
- USDT: Depends on the network but will be between 2 and 20.
As usual, we recommend you check the latest information as to which cryptocurrencies can be withdrawn and the fees associated with it will vary over time.
Now, trading fees in BTCC will depend on what your “VIP” level is. Your level will be determined by the total net value of all of your assets in the platform, with each level offering you an increasingly high discount on fees. There are 7 levels, with the lowest resulting in fees of 0.06% and the highest in fees of 0.03%.
Finally, we have the crypto conversion fees, which are super straightforward. If you convert USDT to any other cryptocurrency, you will be charged 0.1% in fees. If the conversion is the other way around, no fees are charged.
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BTCC Academy
It is becoming a tradition for crypto platforms to offer educational resources to their users and BTCC is no different.
The platform has implemented a specific tool for this purpose, naming it BTCC Academy. This space allows crypto enthusiasts of all levels to improve their knowledge of the crypto and trading spaces.
The Academy is full of useful guides and information categorized by levels, topics, and more, making it easier for anyone to access. Unlike similar tools, BTCC Academy is not limited to services offered by BTCC, which is a reflection of the platform’s mission.
BTCC Review: Is BTCC Safe?
Despite having been around for more than most crypto platforms out there, BTCC has never suffered from a security breach. This means that no data has been leaked, cryptocurrency stolen, or services disrupted as a result of malicious actors.
A record of 11 years without such an incident should be a testament to the security BTCC has implemented.
The platform offers its users with security features we have come to expect from such services, including but not limited to 2-factor authentication, email verification, identity verification, and much more.
This, in addition to measures taken by the company to secure its critical infrastructure in the back, makes BTCC one of the safest cryptocurrency exchanges in the space.
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BTCC Review: Conclusion
BTCC has remained a powerhouse of the crypto space for a reason: It does what it does exceptionally well. The platform might be limited when it comes to features and services but this shouldn’t be a problem for those looking for a streamlined and exceptionally well-made experience.
What this means is that BTCC is a solid option for anyone looking to continue or start their crypto futures journey. However, if you are looking for a traditional spot trading platform, crypto loans, staking, or more varied services, it is not the right fit for you.
BTCC will be launching new products soon, you can keep an eye out for these on their Announcements page.
BTCC have a lot of ongoing campaigns. Users can participate to earn bonuses that can be used to cover their trading fees. There is also a Mission Centre where users can earn reward points by completing missions at each level. The points can be converted to withdrawable USDT.
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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.
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