Business, Internet, Security

Chinese Bitcoin Trading Platform Gains USD5 Million Investment

BTC China, one of the largest Bitcoin virtual currency trading platforms in China, announced that the company has completed its first-round financing and gained total investments of USD5 million from Lightspeed China Partners and US-based Lightspeed Venture Partners.

According to statistics provided by Bitcoinity.org, over the past few weeks, BTC China's trading volume exceeded Mt. Gox and BitStamp, two other major Bitcoin trading platforms in the world, making it the largest Bitcoin trading platform worldwide. The daily trading volume of BTC China reached nearly 90,000 Bitcoins during peak times, representing daily trading values of over CNY200 million.

Born in 2009, Bitcoin is created basing on a set of complex algorithms. The original Bitcoin software by Satoshi Nakamoto was released under the MIT license. Bitcoin uses peer-to-peer technology to operate with no central authority and it can realize worldwide circulation via any computer that accesses the Internet.

During the past few years, Bitcoin has become the fastest growing virtual currency. In China, many Chinese Internet companies, including Baidu, accept payment with Bitcoin. In other countries, Bitcoin has gained wider acceptance and over 10,000 Internet vendors accept this virtual currency.

4 Comments

  1. China's government already practices a philosophy of "currency controls" so this investment is like investing in a brewery in a town for non-drinkers! How do they think the communists will look on bitcoin especially when the pyramid scheme are closed down and there is so much worry about alternative investments!!!

  2. Yup BTC is here to stay and the purpose is to override corrupt government institutions so I believe China is a bellwether for BTC growth.

  3. Besides this bitcoin exchange platform what are other top btc online exchanges and can you tell me how the chinese can use their chinese money to buy those?

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