The daily turnover of Okcoin, a Bitcoin trading platform, soared from 30 million to 100 million yuan ($16.31 million) in five months since its debut in June this year, trailing the recent surge in Bitcoin market (report in Chinese).

Okcoin is a free service targeted at domestic Bitcoin market. To guarantee trading security, Okcoin adopted SSL protocol to prevent theft and tampering of user data. It also offers Bitcoin wallet service, depositing all Bitcoins in offline accounts. Okcoin opened 24 hour hotline to answer various questions of customers.

Xu Mingxing, founder of the company, disclosed that Okcoin currently has 100,000 registered users, most of whom are IT and financial elites. The company secured $1 million of angel investment from Tim Draper, partner of DFJ, and VenturesLab.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.