Since it is becoming increasingly obvious that Non-Chinese Bitcoin exchanges barely have a future, trad000rs must consider moving their valued BTC/LTC to one of the two leading Chinese exchanges. Despite all the FUD that has been spread since late 2013, Huobi and Okcoin have constantly been making progress what finally led to their dominant position in Bitcoin trading.
On the contrary, it seems like BTC-e and Bitstamp might be sharing the fate of Mt.Gox one day. Shrinking volume and the growing use of trading bots are just two huge red flags pointing to a bitter end ahead.
We all have been through this once! And we all know the signs!
to help you make a decision here, please note the following 5 damn good reasons to go Chinese.
#1 Trading with the market maker
By now, it is out of any question that Chinese exchanges are the ONE and ONLY market makers in Bitcoin trading. Everybody denying that simple fact, is a fool.
#2 Trading volume
Just another very obvious fact. The trading volume of Chinese Bitcoin exchanges has been constantly increasing ever since.. resulting in the recent situation where approximately* 80-90%(!!!) of all Bitcoins are traded on Huobi and Okcoin.
While such massive rise is very impressing on the one side, it is a huge matter of concern on the other. No volume = No fees = No profit. It's easy as that. As far as most Western exchanges are concerned! There are NO FEES on Huobi, nor Okcoin.
Needless to say that high volume does also play a major role for trad000rs. It implicates high liquidity leading to better trading opportunities.
*While I did calculate those figures for myself once, bitcoinity does give the best overview of that huge gap unfolding, BUT it only tracks Huobi >>>
http://bitcoinity.org/markets/list?currency=ALL&span=3dTaking into account that the trading volume on OKcoin is even exceeding the one on Huobi, you can easily do the math yourself. Both together cover close to 90% of Bitcoins traded every day. And it is still increasing on a daily basis.
#3 Trading with leverage
IMFAO this is one of the most interesting features you will find on Huobi. You can borrow CNY or BTC from other trad000rs/institutions in relation to the amount deposited resulting into a 1:3 leverage. This is a very healthy ratio giving you the opportunity to cash in trice. Interest rates around 0.1-0.3% per day are very reasonable as well.
#4 Trading API
Hands down, I have been trading on almost any possible exchange despite OKcoin. The trading experience and handling of Huobi's trading API is simply great, easy to use and waaaaay more advanced than all the other crap. The technical edge compared to Stamp or BTC-e is massive!
#5 Customer Service
Also great on Huobi. There is ALWAYS someone you can chat with if you ahve any questions or problems. Just use google translate to get those Chinese signs. They do understand everything just fine!
Fock me. That must be enough...
Bottom line, I highly recommend moving your funds to Huobi. You gonna love it!
Check it out and give it a try.
https://www.huobi.com/?lang=enAll The Best
