BTC China Lowers Commission Fees

Journalist:
February 22, 2014
BTC China Bitcoin Exchange

BTC China is open for business and is offering lower trade commissions starting 24 February 2014.

From their website:

Starting at 12 noon (China time) on February 24, 2014, BTC China will lower the trading commission fee from 0.3% to 0.1% for all users.

For market-makers who place limit orders that add to market liquidity, they will be exempt from the trading commission, and will additionally get a 0.1% market-maker rebate!

Sign of Change

In an exclusive interview with CryptocoinsNews two weeks ago, Bobby Lee outlined the positive changes for China based exchanges. The current announcement is effectively BTC China swinging open its doors and saying: “Open for business!”

This is good news for Bitcoin, considering the masses of liquidity and sheer volume of trade BTC China brought to the Bitcoin market before the PBoC reigned in exuberance in November.

Popular opinion has it that BTC China could be the best candidate to take over the lead from Mt.Gox – along with its customers and market share. Additionally, many feel that BTC China, although having it’s own customer account validation process, does not have anybody in the West looking over it’s shoulder at customer’s private data, nor a stick big enough to demand that the Chinese exchange divulge personal information or transaction details.

In his recent CCN interview, Bobby Lee had the following to say:

It appears to us that the reason there was a hard government crackdown with a one punch, two punch in December is because they thought there was too much volatility. The government has a right to think it is too volatile.

We need a few months for the dust to settle, so the Chinese consumers regain confidence. There is demand for Bitcoin in China. Bitcoin’s features remain, it hasn’t become less scarce, less decentralised or less a store of value.

Hang dai, Mr Lee, Hang dai.

Last modified (UTC): February 22, 2014 20:09

Venzen Khaosan @venzen

Market analyst and Open source developer with a keen interest in blockchain technology, consensus mechanisms and the decentralizing effect. He has found a solution to the PKI mechanism. Email me to discuss.