|Founded||June 1, 2016|
|Brief||Hong Kong has traditionally been one of the most popular destinations for centralized cryptocurrency trading platform, mainly due to the state’s relatively relaxed stance on crypto regulation.|
|Last updated:||Tuesday, October 29, 2019 3:00:03PM UTC|
|Volume 24 hours, USD:||1 415 915 760|
|Volume 7 days, USD:||9 067 464 743|
|Volume 30 days, USD:||26 539 445 003|
General Bit-Z facts, technical details and general information about Bit-Z exchange
Hong Kong has traditionally been one of the most popular destinations for centralized cryptocurrency trading platform, mainly due to the state’s relatively relaxed stance on crypto regulation. Although being not even three full years old, Bit-Z has already branched out into ten countries of Asia, including Japan and South Korea, and beyond, in such countries as Denmark, Russia, and France.
Founded in 2016, Bit-Z represents a cohort of Hong Kong-based cryptocurrency exchanges from the Top 20 on CoinMarketCap. To be more precise, the daily trading volume of over $600 thousand and the monthly one of more than $21 million allowed Bit-Z to get a well-deserved 16th spot in the CoinMarketCap rankings, and as high as the fourth place, according to Tokeninsight.
The exchange gets financial backing from two big Chinese venture capital firms: Cyahhill Capital and Plum Ventures, which explains the decent liquidity, required to support 140 listed currencies that make 205 trading pairs. In addition to cryptocurrencies, Bit-Z also provides users with access to fiat trading, with BTC/USD being the most popular pair. According to the platform’s own estimation, Bit-Z accommodated over 1.7 million registered users.
In order to ensure the safety of all user data, the platform employs the multi-layer security architecture and works in close cooperation with Knowsec, the renowned risk control company. When it comes to the protection of traders’ assets, Bit-Z makes sure to utilize cold wallets and state-of-the-art authentication service.
To ensure the seamlessness of trading experience, Bit-Z incorporates a top-notch engine with a capacity to carry out up to 50 thousand transactions per second. This exchange has a rather unusual fee structure, which doesn’t feature the standard withdrawal fee of 0.0005 BTC. Instead, Bit-Z imposes a separate fee on each given coin. For instance, the fee for withdrawing Litecoin amount to 0.01 LTC while taking out DOGE will require 20 of these coins. Deposits, on the other hand, are made on a no-fee basis. Keep in mind that users are allowed to make deposits only in cryptocurrencies. The taker and maker fees are a flat 0.1% of the transacted amount, which is a good deal lower than that of competitors.
Apart from the usual spot trading, Bit-Z affords users to engage in other kinds of trading activities, namely margin and over-the-counter trading, with the latter being available with the following cryptocurrencies: BTC, LTC, EOS, ETH, USDT, and DKKT. Bit-Z is also in preparation for the launch of a perpetual contract trading, which bears certain similarities with the conventional futures trading.
|Bit-Z volume change 24 hours||-21.71%|