Huobi has added another branded service to its collection with the launch of BitYes.com, a USD-based platform for trading bitcoin and litecoin.
The China-based bitcoin exchange company launched BitYes at its first anniversary celebration at Beijing’s Shangri-La Hotel last Saturday.
BitYes will feature 24/7 English customer support available through multiple channels including Twitter, Facebook and Reddit, with a VIP system providing additional services to ‘high-value’ users.
It has a 0.2% standard trading fee, 0% BTC and LTC deposit/withdrawal fees, a 1% fiat currency deposit fee, 2% Egopay withdrawal fee, or 0.1% fee for withdrawal to bank card.
Marketing to new customers
Huobi is offering special introductory deals: the first 1,000 users may trade free for 30 days, as well as the first $1,000 depositors.
BitYes is aimed squarely at international customers, but it is registered to Bit International Financial Services Ltd, a Hong Kong-registered subsidiary of Huobi. The company says this will produce both better service and a more secure legal environment.
BitYes has also collaborated closely with leading law firms to ensure regulatory compliance across different jurisdictions.
Growing product mix
Huobi’s product family has grown markedly over the past couple of months with a series of launches and acquisitions, many offering something completely separate to the original and comparatively straightforward exchange business.
Each new product appears to appeal to a wider variety of digital currency traders and reduce the company’s dependence on the mainland Chinese market, with its regulatory uncertainty. All new services have been launched simultaneously with English and Chinese versions.
These include BitVC, also part of the Hong-Kong subsidiary, a non-fiat exchange offering margin and futures trading, Yubibao interest-bearing wallets, the multi-signature Quickwallet, the Qukuai/Blockinfo block explorer, mining-linked investment products and an upcoming P2P lending platform.
Quickwallet provides users with the ability to make instant-confirmation deposits from their personal wallet to the exchange. This product will also be integrated with BitYes to provide the same functionality.
A recent cryptographic audit of Huobi’s acconts showed it held 103% of claimed bitcoin reserves. It also claims a perfect security record over its one year of operation and, like rivals OKCoin and Huobi, have found a way to operate within a Chinese regulatory framework that once threatened to stifle the country’s nascent bitcoin industry.
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