The Rise of Bitcoin Trading in China
Bitcoin trading has taken China, the world's second largest economy, by storm as Goldman Sachs reported that 80% of the industry trading volumes are in renminbi. After all, an increasing share of the Chinese middle class is pursuing alternative investments, apart from property and equities. According to Bobby Lee, CEO of the world's largest bitcoin exchange BTCChina, Chinese users who like to gamble enjoy the strong volatility in bitcoin prices. For many, buying low and selling high offers the opportunity to make quick profits. Chinese Bitcoin Trading. In addition, Lee also views the rise....
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BTC China has reinstated trading fees in an attempt to combat market manipulation. BTC China has, after 3 successful months, has decided to resume trading fees. For a few weeks now, because of 0% trading fees, BTC China has consistently been the highest volume BTC exchange. Trading fees will be 0.3%, the announcement reads: Dear BTC China valued customer: To stabilize the recent turbulent Bitcoin market and minimize potential market manipulation, BTC China will end the 0% trading fee promotion, effective immediately, and revert to the 0.3% trading fee. We deeply apologize for the sudden....
CoinDesk has created a new Bitcoin Price Index (BPI) based on the price and volume of bitcoins exchanged for Chinese yuan (CNY). The new Chinese yuan BPI is separate from the existing and widely referenced CoinDesk USD index, which CoinDesk will continue to maintain. The USD index and CNY index will complement each other by providing the most trusted bitcoin price in the two most commonly exchanged national currencies. Bitcoin's wild ride in China. The rise of bitcoin in China was a one of the big stories and catalysts in the latter half of 2013. Near the end of last year, CNY trading....
Major Chinese exchange BTC China just enabled Litecoin trading at an unbeatable 0% fee! BTC China's official announcement reads as follows: Dear Customers, We are very excited to introduce BTC China's new member - Litecoin! Bitcoin grew tremendously in 2013, while another virtual currency has also made considerable progress - Litecoin. It gradually gained recognition from the Bitcoin enthusiasts. By popular request, we have now added Litecoin trading to BTC China's trading platform. In addition, Litecoin trading will have 0% trading commission! As a responsible trading platform and a....
China's 'Big Three' bitcoin exchange businesses are taking new steps to "curb speculation" and "prevent volatility" in the nascent digital currency market. Announced this weekend, BTCC, Huobi and OKCoin – the country's largest bitcoin trading platforms by volume – jointly revealed their intention to end their years-long practice of offering no-fee bitcoin trades, introducing a 0.2% fixed-rate fee on all buy and sell orders for bitcoin and the alternative digital currency litecoin beginning 24th January. The announcement is the latest that finds China's major bitcoin trading platforms....
Exchange BTC China is introducing litecoin trading, effective immediately and with 0% commission. It will become the first widely-used exchange after BTC-e to trade the world's second most popular cryptocurrency. CEO of BTC China, Bobby Lee, announced the move this morning, saying "users have been clamouring for this for ages". Digital currency watchers will also note that BTC China's CEO, Bobby Lee, is the elder brother of litecoin inventor Charles Lee. BTC China's banner for the announcement also reads "Brothers Reunited". Lee acknowledged that his fraternal relationship with Charles was....