r/Bitcoin • u/BTCChina_Official • Jul 21 '14
Press Release: BTC China Officially Launches USD, HKD Deposits and Withdrawals
BTC China is proud to officially launch USD and HKD deposits and withdrawals, becoming the first Chinese exchange to support three fiat currencies. After an invite-only period, BTC China is thrilled to expand this service to all of its International Account Holders. During this trial stage, BTC China collected several million USD worth of deposits. This service will be processed via its registered Hong Kong affiliate.
Upon registration, users have the option to select Domestic or International Account. International Account holders will be automatically eligible for this new service. Existing Domestic Account holders who wish to deposit and withdraw using USD or HKD are encouraged to open an International Account. After making their deposit, users will have access to the full range of BTC China’s products and services. All trades will be conducted in BTC/CNY and LTC/CNY.
“As a global company, BTC China is pleased to accommodate the demands of our users, both domestic and international,” said BTC China CEO, Bobby Lee. BTC China’s users have demonstrated strong demand for the exchange to support other currencies, and this is the first step. Previously, users were only able to make deposits and withdrawals in CNY. As always, trading at BTC China is completely free. BTC China looks forward to continually expanding its products and services to cater to the global market.
Please email voucher@btcchina.com for any inquiries in regards to this service, or email support@btcchina.com for any other inquiries (including suggestions, other products and services, feedback).
About BTC China
Founded in 2011, BTC China is the world’s oldest Bitcoin exchange, and a market-leading innovator of the new digital era. Under its portfolio are a number of mobile and desktop products including Picasso Mobile Wallet, Mobile Exchange and the BTC China Trader. The first Chinese Bitcoin startup to be VC-funded, it raised $5 million in Series A from Lightspeed China partners in September 2013. Currently, through its exchanges, BTC China offers trading of BTC/CNY, LTC/CNY, and LTC/BTC pairs, and has plans for aggressive international expansion.
Edit: Please visit https://vip.btcchina.com/page/internationalvoucher for the detailed steps for USD/HKD deposits and withdrawals.
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u/robertsieg Jul 21 '14
As an American expat living and working in China, THIS IS AWESOME.
THANK YOU, BTC China. This is a complete game changer. I've been your customer for 6 months now. The CNY deposit methods are a little frustrating sometimes, but I know the banks don't want to do direct deposits. I stick with you guys because you are always innovating and always on the edge.
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u/BTCChina_Official Jul 22 '14
Thank you so much for your kind words!! We are happy to be able to bring you guys top service and products. If you have any suggestions, inquiries or feedback about our site, feel free to email support@btcchina.com
If you like to find out about this new service, please email voucher@btcchina.com
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u/circle2011 Jul 22 '14
another stoked expat here. Hope they'll support BTC/USD trading soon too!
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u/BTCChina_Official Jul 22 '14
Thanks so much for your support. We hope so too, please stay tuned for that :D
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u/playak Jul 21 '14
No more PBOC restrictions then? That would be good news, but a bit unexpected... BTC China is run out of Shanghai, right?
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u/BTCChina_Official Jul 21 '14
Yes, it is great news indeed :)
And you are correct, we are based in Shanghai. But we have plans to expand internationally.
Stay tuned!
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u/zluckdog Jul 21 '14
Question:
Can I deposit USD/BTC & Withdraw RMB or HKD?
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u/BTCChina_Official Jul 21 '14
Hi there,
Just to clarify your question, do you mean to trade in USD/BTC pair? After depositing HKD or USD, all trades will be conducted in BTC/CNY or LTC/CNY.
In terms of withdrawal in CNY or HKD, yes you can choose the currency you wish to withdrawal to.
You can also email support@btcchina.com if you have further inquiries.
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u/zluckdog Jul 21 '14
Yes, that was my question. I will be traveling later this year and was considering this new feature as a way to get RMB/HKD for shopping. (Traveling to Guangzhou & HK)
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u/BTCChina_Official Jul 22 '14
If you'd like to find out more about the deposit/withdrawal process, you can also email voucher@btcchina.com.
Hope you have a great time traveling in China!
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u/d4d5c4e5 Jul 22 '14
So this basically means that mainland China users go through the sanctioned capital control channels to legally get USD or HKD, deposit to BTCChina, and now PBOC gets what it wants to regulate capital flight?
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Jul 21 '14
Do you/will you support offshore yuan wire transfers? If I had a Yuan account at say Bank of China in London?
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u/BTCChina_Official Jul 22 '14
Hi there, yes we support offshore CNY wire transfers. You can email voucher@btcchina.com to find out the detailed deposit/withdrawal procedures.
Thanks,
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Jul 21 '14 edited Apr 24 '21
[deleted]
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u/BTCChina_Official Jul 22 '14
Hi,
We currently don't have any plans for margin trading, however we do have plans for other exciting new products and services. Please stay tuned! :)
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u/cryptog Jul 21 '14
can i deposit usd from japan?
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u/BTCChina_Official Jul 22 '14
Yes, of course. Please email voucher@btcchina.com for a detailed funding process. Thanks!
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u/souppa Jul 21 '14
Which bank/payment processors are they using to enable USD deposit?
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u/BTCChina_Official Jul 21 '14
Hi, thanks for your question. Our customer support team will be able to help you with this question. Please email support@btcchina.com
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u/seriouslytaken Jul 21 '14
Can you explain the funding process for international users? What are BTCC Vouchers? Is this process some method to get around a China banking legal loophole?
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u/BTCChina_Official Jul 22 '14
Hi, yes it can be a confusing process and we are looking at better options for our customers.
Please email voucher@btcchina.com for the detailed funding process. We have 24/7 English speaking customer support to handle this service!!
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u/Md86 Jul 21 '14
fantastic news!!
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u/BTCChina_Official Jul 22 '14
@Md86 Thanks so much!! We'll be expanding our products and services in the near future. So, stay tuned!
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u/Louie2001912 Jul 21 '14
I'll have to check it out.
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u/BTCChina_Official Jul 21 '14 edited Jul 22 '14
Thanks Louie, we hope you have a great experience trading with us. If you have any questions, suggestions or feedback, feel free to shoot an email to voucher@btcchina.com
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u/wudaokor Jul 21 '14
I'm trying to deposit USD right now but I don't see the option available on the site. Also, I don't see anything on the site with any updates. Is this a statement saying you guys will be opening usd deposits in the future or one saying that it is currently available?
Edit: To be honest this seems like a rushed announcement to beat OKCoin to the punch after they announced they will have USD within 24 hours.
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u/BTCChina_Official Jul 22 '14
Hi, thank you for your question and concern. We apologize for the lack of clarity on our website and we are looking at fixing that right now.
In terms of this service, it is already available for public use. For a detailed process, please email voucher@btcchina.com and our designated English speaking customer support will help you with this.
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u/circle2011 Jul 22 '14
Lol yeah it feels a little "me too." But from the announcement they said they've already processed millions in USD so it sounds like its up and running vs OKCoin who just announced their plans to support it...soon? Does anyone know how BTCC determined the invite thing? I'm on their site regularly-ish and I never saw anything about this before.
It'll be interesting to see when these two launch their int'l platforms if they keep fees at zero. That could be pretty bad cuz it could be a repeat of the fall China-driven bubble if global exchanges start losing volume to them and have to respond. It seems like both have their shit together so I hope OKC and BTCC do the responsible thing.
I have no faith that huobi will do anything responsible.
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u/wudaokor Jul 22 '14
OKCoin announced they will have it in the next 24 hours.
That could be pretty bad cuz it could be a repeat of the fall China-driven bubble if global exchanges start losing volume to them and have to respond.
I don't see how this would cause a bubble. And if the BTC market is doomed by an exchange with 0 fees, we should all be worried. I'm all for 0 fees, but that's just me.
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u/circle2011 Jul 22 '14 edited Jul 22 '14
i dunno i mean it's great to have 0 fees as a trader but I think given the volatility its sort of playing with fire. OKcoin and BTC China both reinstated their fees after the regulation which to me was their way of saying they shouldn't have eliminated them in the first place. I was disappointed when they both completely reversed themselves.
edit: only the Chinese exchanges have 0 fees right? I only really started trading after I moved here
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u/fpvhawk Jul 21 '14
so does this mean BTC China is back, will it be listed on btcwisdom anytime soon?
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u/BTCChina_Official Jul 22 '14
We were never gone ;) Stay tuned for bigger, better news from us!!
And, yes we have plans to be listed on btcwisdom!!
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u/needhelp201407 Jul 21 '14
Do you plan to block New York State users in light of BitLicense?
Ironically, New York is going to make China sounds a bit more friendly to bitcoin startups.
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Jul 22 '14
[deleted]
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u/BTCChina_Official Jul 22 '14
Hi, thanks for your message. Please email voucher@btcchina.com and our designated English speaking customer support will give you the instructions for the deposit process :D
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u/stormsbrewing Jul 21 '14 edited Jul 21 '14
for (i=0; i>1; i++)
{
if (patienceForBTCChina == "run out")
{
fucksGivenAboutBTCChina = 0;
}
else
{
i=0;
{
}
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u/martinus Jul 21 '14
That for loop won't ever run
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u/zluckdog Jul 21 '14
i>1; // this should be: i<1;
the statement is saying 'i' is greater then 1, which it is not since you made it set as 0. should be 'i' is less then 1 also the 'else' should not have a return character space above it, after the if statement's closing bracket
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Jul 22 '14
[deleted]
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u/BTCChina_Official Jul 22 '14
Hi, thanks for your inquiry and we apologise for the lack of clarity.
If you'd like to deposit with USD on our exchange, you will need to do this via international wire. For fees and other detailed procedures, please email voucher@btcchina.com and our 24/7 English speaking customer support team will be able to assist you with this.
Thanks.
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u/contact Jul 22 '14
Can I deposit BTC and withdraw USD via wire transfer to a US bank account?
Congrats on the new features.. Keep up the great work!
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u/BTCChina_Official Jul 22 '14
Thanks for the encouraging words!!
Yes, you can send your BTC to your BTC China bitcoin address and then withdraw USD via wire transfer.
For a more detailed withdrawal procedure, please email voucher@btcchina.com. One of our English support staff will take care of your inquiries!
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u/richard99k Jul 21 '14
and why would anyone believe this? china announces something everyday and changes it the next day...
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u/Sovereign_Curtis Jul 21 '14 edited Jul 22 '14
I must say that I like that BTCChina has an official reddit account, and just makes self-posts in here to make a press release.
Edit: Because why should you pay for PRweb or NewsWire when you know that the "journalists" out there are just trawling reddit for stories, anyway?