What is ViaBTC
ViaBTC is a cryptocurrency mining pool and exchange platform based in China. It was founded in 2016 by Haipo Yang, who had previously worked at the Chinese cryptocurrency exchange, Bitmain. ViaBTC offers mining services for several cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.
In addition to mining services, ViaBTC also operates a cryptocurrency exchange platform that allows users to trade various cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. The platform offers a range of trading pairs, as well as features such as margin trading and OTC trading.
Overall, ViaBTC is a well-known and reputable player in the cryptocurrency mining and exchange space, with a strong focus on Bitcoin and Bitcoin Cash.
The history of ViaBTC
ViaBTC was founded in June 2016 by Haipo Yang, a former employee of the Chinese cryptocurrency mining giant, Bitmain. Yang had previously worked on Bitmain’s Antpool mining pool, one of the largest mining pools in the world.
ViaBTC initially launched as a Bitcoin mining pool, but later added support for other cryptocurrencies such as Bitcoin Cash, Ethereum, and Litecoin. By the end of 2016, ViaBTC had become one of the largest mining pools for Bitcoin Cash, which had recently forked from the original Bitcoin blockchain.
In May 2017, ViaBTC launched its cryptocurrency exchange platform, which allowed users to trade various cryptocurrencies including Bitcoin, Ethereum, and Bitcoin Cash. The exchange quickly gained popularity in China, thanks in part to its low trading fees and support for margin trading.
In 2018, ViaBTC continued to expand its offerings, launching a mining contract service called “ViaBTC Cloud Mining”. The service allowed users to purchase hashpower and mine cryptocurrencies without having to manage their own mining hardware.
In 2019, ViaBTC became one of the first mining pools to support the Grin cryptocurrency, which uses the Mimblewimble privacy protocol. The company also launched a mobile app, making it easier for users to monitor their mining activities and trade cryptocurrencies on the go.
Today, ViaBTC remains a major player in the cryptocurrency mining and exchange space, with a focus on Bitcoin and Bitcoin Cash. The company continues to innovate and expand its offerings, with a commitment to providing reliable and secure services to its users.
How ViaBTC works
ViaBTC operates as a cryptocurrency mining pool and exchange platform. Here’s how each of these services works:
- Mining Pool: ViaBTC’s mining pool allows users to pool their computing power to mine cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. Users connect their mining hardware to ViaBTC’s pool servers and earn a share of the block rewards based on their contributed hashpower. ViaBTC charges a fee for mining on its pool, which varies depending on the cryptocurrency being mined.
- Cloud Mining: ViaBTC also offers cloud mining contracts, which allow users to purchase hashpower from the company’s mining facilities. ViaBTC manages the hardware and mining operations, and users receive payouts based on their purchased hashpower. The fees for cloud mining contracts depend on the specific contract and cryptocurrency being mined.
- Exchange: ViaBTC’s cryptocurrency exchange platform allows users to trade various cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. Users can buy and sell cryptocurrencies using a range of trading pairs, including fiat currency pairs. The exchange charges fees for trading and provides features such as margin trading, OTC trading, and an API for automated trading.
Overall, ViaBTC operates as a full-service cryptocurrency platform, providing users with mining, cloud mining, and trading services for a variety of cryptocurrencies. The company uses advanced security measures to protect users’ funds and employs a team of experts to ensure reliable and efficient operations.
Does ViaBTC charge a fee
Yes, ViaBTC charges fees for its services. Here’s a breakdown of the fees charged by ViaBTC for each of its services:
- Mining Pool: ViaBTC charges a fee for mining on its pool, which varies depending on the cryptocurrency being mined. For Bitcoin mining, the fee is currently 4%, while for Bitcoin Cash mining, the fee is 2.5%. The fees for mining other cryptocurrencies such as Ethereum and Litecoin are also variable and can change over time.
- Cloud Mining: ViaBTC charges fees for its cloud mining contracts, which allow users to purchase hashpower from the company’s mining facilities. The fees for cloud mining contracts depend on the specific contract and cryptocurrency being mined. For example, the fees for a Bitcoin cloud mining contract can range from 15% to 30% depending on the contract duration and hashpower purchased.
- Exchange: ViaBTC charges fees for trading on its cryptocurrency exchange platform. The trading fees are based on a user’s trading volume over the past 30 days and range from 0.1% to 0.2%. The exchange also charges withdrawal fees for moving cryptocurrencies off the platform, which also vary depending on the specific cryptocurrency.
Overall, while ViaBTC charges fees for its services, the fees are generally competitive with other cryptocurrency platforms and are used to cover the costs of maintaining the company’s mining and exchange operations.