ABCC Review
Exchanges are an essential aspect of the bitcoin ecosystem; they are a must. With hundreds of crypto exchanges existing in the crypto market today, competition is only increasing. However, not all of these interactions are the same. They do, in fact, differ and provide several distinctive features. So, what exactly does ABCC crypto exchange have to offer you? Dive right into this ABCC Exchange review to learn everything there is to know about this relatively new exchange on the crypto marketplace.
Calvin Cheng, a well-known technology and media entrepreneur founded the ABCC Exchange. The exchange is backed by many institutional investors, including, but not limited to, Dream Seeker Capital, Funcity Capital, and BlockOrigin Capital.
On its website, the exchange explicitly displays the team behind the exchange. This is usually reassuring, as it reduces the chance that the platform’s developers would steal your money. ABCC also supports a large variety of coins.
The following are the key benefits of the exchange, as stated on the exchange’s website:
- Reliability
- High Liquidity
- Security
- Multiple Investment
| Exchange platform | ABCC |
| Website | abcc.com |
| Variety crypto | 36 |
| Account needed | Yes |
| Verification | Mandatory |
| Verification levels | 2 |
| Trading Platform | Web-based |
| Customer Support | Email, Twitter, Phone |
What is ABCC Exchange?
ABCC, a lesser-known exchange, was launched mid-2018 and has steadily built a thriving exchange. The exchange has proven to be a worthy competitor for many established players, providing users with a suite of appealing features on a convenient and accessible platform. They also provided a recent update to their token (AT), that instituted a revenue distribution program, closely related to Kucoin’s KCS. In addition, signing up with ABCC is simple and straightforward. No KYC is necessary to begin trading. For many users, this is a huge benefit; for others, it is a regulatory concern.
ABCC has one of the industry’s top exchange websites, and its exchange platform is simple to access and utilize. They also provide “ABCC Cloud”, an exchange platform launch package that includes a trade matching engine, off-the-shelf exchange, and all operations necessary to launch an exchange firm. We would not be shocked if several of the generic exchanges – DragonEx, Bibox, ZB, and so on – used this identical service to debut.
ABCC’s performance numbers are strong, with significant volume that does not appear to be faked and a large number of available assets to trade; Most assets have justification for being listed on the exchange platform, by accumulating volume, as opposed to exchange platforms that charge pitiable and exorbitant listing fees, only for their trading pairs to fade away due to a deficiency of volume eventually.
Although there is no leverage trading available on ABCC, the exchange features a mobile app and an appealing revenue sharing structure for holders of its AT token.
Its social representation is also outstanding. It has a structured Telegram channel with great debates, regular tournaments and promotions, for users to partake in. All of these are also publicized on Twitter and Reddit. One thing ABCC has to improve is its staff: as of now, the exchange does not disclose, on their site, any fact about their staff. But, after some research, we were able to discover workers of the exchange on LinkedIn. While they appear to be qualified and successful entrepreneurs, ABCC’s only reference to its personnel is on its “About” page. CEO Calvin Cheng, an established and seasoned Blockchain and Bitcoin entrepreneur, is mentioned there.
This Team situation is quite similar to the scenario at Binance, in which there is a single figurehead, and all other members are purposefully remaining in the shadows. Yet, the exchange is controlled by more than one individual, and its users need to know who is looking after their assets. Similarly, ABCC has instilled faith in us by collaborating with Singapore authorities and applying for licenses in Gibraltar and Malta, but this may imply that the current KYC free status (at least for the top tier) will not endure long. Furthermore, several security features, such as whitelisting withdrawal addresses, manually authorizing new IP addresses, or a “cool down” time following a password change or login, are missing from this platform; this leads us to be skeptical of the exchange’s capacity to protect customer funds.
ABCC Trading View
Various exchanges offer distinct trading views. There is no such thing as “this is the best trading view”; you should decide which trading view is suitable for you. What all trading views have in common is that they all display the order book, or at least a portion of the order book, order history, and a price chart of the selected cryptocurrency. They usually have “buy” and “sell” boxes as well. Before you pick an exchange, look at the trading perspective to ensure that it seems suitable to you.
ABCC Trading fees
ABCC charges a flat cost of 0.1 percent in trading costs for every transaction, regardless of whether you are the buyer or seller. The trading fee is always denominated in the base currency. There are no deposit fees. On the Fees page, you can find an up-to-date table explaining the withdrawal limit amount and withdrawal fees for each listed currency. These are determined by the blockchain fees of the respective coin, not on fees levied by ABCC.
ABCC Withdrawal fees
ABCC levies 0.0008 BTC in withdrawal fees when you withdraw BTC. This corresponds with the global average industry fees (arguably 0.0008 BTC). As a result, neither the trading nor withdrawal fees should discourage anyone from trading cryptocurrencies at ABCC.
Withdrawal Limit
Withdrawals are subject to the same concerns on the general nature of transferring cryptocurrency, so make sure you send the coins to the correct wallet address. When utilizing ABCC, there is a withdrawal restriction. Those who have not confirmed their accounts are only permitted to withdraw up to 2 BTC or its equivalent within 24 hours. Those who have undergone verification may withdraw up to 200 BTC or its equivalent within 24 hours. If you require a larger withdrawal limit, you can contact ABCC to assess your circumstances on an individual basis.
Deposit Methods
ABCC does not quite accept fiat money deposits. This implies that novice cryptocurrency investors (those with no prior cryptocurrency ownership) cannot trade here. To buy your debut cryptocurrencies, you will need to use an entry-level exchange that accepts fiat money deposits.
Remember that all cryptocurrency transfers are final, so if you unintentionally send the coins to the wrong wallet, ABCC will be unable to help you, and those coins will be gone. Furthermore, because you may only transfer coins to their specified wallets, the address for depositing Ethereum will be different from the address for depositing Bitcoin.
What Cryptocurrencies Does ABCC Offer?
ABCC’s basic currencies are BTC, ETH, and USDT; they hope to list AT in the future. The fees page has a complete list of cryptocurrencies that you may buy and sell using ABCC. As of the time of writing, the exchange supports approximately 50 coins. There were 39 crypto pairs, with Bitcoin as the base currency, 38 with Ethereum, and 16 with USDT.
Types of Trading on ABCC
The ABCC exchange offers, and plans to offer in the future, a variety of features to its users, including:
Crypto trading – There are many cryptocurrencies listed on the website that you may trade at your leisure.
Contract trading — Futures, investment portfolios, options, and other asset-backed securities predicated on cryptocurrencies are also included in the service plan of this exchange.
Margin trading – ABCC provides you with the leverage you need to accomplish a more flexible and efficient asset allocation.
Over-the-counter (OTC) services — It provides over-the-counter block trading services with trading partners that include hedge funds, ultra-high net worth individuals, mining companies, family offices, and many other traditional financial institutions.
Earn and double your rewards — To obtain AT, one must engage in trading activity with any pair. Users will reportedly generate 0.1 percent of the transaction fee when trading. Then, every six hours, crypto miners get declarative AT based on their trading fees as a percentage of the overall fees received by ABCC. The Mining Referral Program is another opportunity to earn and double your earnings.
ABCC User Interface
ABCC provides a straightforward, to-the-point, and easy-to-navigate website with all the information its users need. It is also downloadable on Ios and android. Their Google Play app has received positive feedback, with over a thousand comments from users.
ABCC API
To register and verify an account, go to the website’s Register page, enter your email address, and agree to the Customer Agreement. KYC is also required for the exchange; this includes a valid passport, ID page and a photo of your passport cover, Drivers’ license or national ID card, and a photo of the client holding a passport and paper on which ABCC, date, and signature is handwritten.
KYC completion is done as soon as possible. However, one can follow this up with the administrator of their Telegram group. Without KYC, one may withdraw up to 2 BTC and trade to mine. ABCC clearly states that KYC users from the United States, Singapore, and China are not permitted to participate in AT trading, owing to policy restrictions.
ABCC Account Signup
Creating an ABCC account is a simple process. Go over to the top right corner of the home page and click “Register.” You will be prompted to input your email address and password. Then, confirm your password before accepting the Customer Agreement. Your password must be at least eight characters long and contain digits as well as uppercase and lowercase letters. For security reasons, you should not be using the same password for several platforms.
After entering your information and clicking “Register Now,” you will be asked to move a slider to confirm your activity. ABCC will send you a confirmation or verification email at this point. Navigate to your email account, locate the message, and then follow the steps to activate the account. It is as effortless as clicking “Verify Email.” Your account is now completely activated, and you may access it whenever you want.
ABCC Account Verification
After you have activated your account, you should go ahead and verify it. Begin by logging in, then go to the top right corner of your screen and click the human figure, which symbolizes personal information. A drop-down option will appear, from which you should choose “Verification.” This will bring you to the webpage where you can confirm your account. It will initially ask you to input your location, and you will have the option of browsing through the list or inputing a few characters and seeing the matched options display.
You must now input your name and ID number, as well as submit a photo of your ID card or passport’s information page. In most cases, identity verification is completed in a single working day. However, if there is a large number of people validating their identities, it may take longer. While this is happening, your account’s verification page will notify you that it is happening.
ABCC Token (AT)
ABCC Token (AT) is the ABCC Digital Asset Exchange’s ERC-20 token. There is a fixed total quantity of about 210 million tokens, and AT holders are entitled to certain perks. AT is issued through Trade Contribution with Simultaneous Release. This implies that 50% of the tokens are issued due to trade contribution, with the remaining 50% released concurrently. Of the 50% for trade contributions, 40% goes to those who Trade-to-Mine (ToM), and 10% goes to those who traded before ABCC Token was issued. The 50% for simultaneous release has 10% for investors, 20% for the platform, and 20% for the team.
AT holders can use it to pay transaction fees and purchase other digital assets on ABCC. Token holders also have first dibs on the platform’s premium services. In addition, members with AT may take part in different campaigns and events on ABCC, with incentives for completing specific conditions. Members who own AT tokens, for example, will get 80% of the trading commissions collected by ABCC. AT token holders can also participate in activities such as interactions with ABCC, community development, and providing ideas to ABCC.
A Note to Investors
Since its inception in April 2018, the exchange has steadily advanced by providing its consumers high-quality services like different trading alternatives, incentive programs, and much more. In addition, the platform checks off a growing list of features, emphasizing safety as an essential component of an exchange and user experience and support. Furthermore, ABCC’s native token, AT token, is increasing rapidly.
IS ABCC Safe?
ABCC provides a variety of recommendations and features to assist secure client security. For example, they recommend that you constantly make sure you are on the correct website and never share your password. Furthermore, they caution you not to give personal information or send payments to anybody claiming to be an ABCC employee, as they will never approach you in this manner. ABCC also lists certain anti-phishing precautions that users should take, such as avoiding strange emails, strange attachments, and hazardous websites and never utilizing unfamiliar public networks.
ABCC also highly advises that supplementary authorization be obtained by cell phone or email. To activate one of these additional authorization methods, navigate to your “Account Page” from “Personal Information” in the upper-right corner of the page. Rows for email, phone, and password will appear below the daily withdrawal limit and your balance. To activate phone authentication, click the “Enable” to the right of “Phone”, input your country code, input your email address, sit tight for an authentication code via SMS, input it on the website, and hit “Submit.”
To activate email authentication, follow a similar method, beginning by tapping “clicking.” To log into your account, you must provide an email address different from the one you used to register. Please enter your email address, then sit tight for the authentication code to come before entering it on the page. Once a phone or email authentication is set up, you will have to authenticate your activities with a code when signing in, creating APIs, or performing other account security-related tasks.
Customer support
ABCC’s website and applications deliver all of the information to its consumers simply and exactly. It provides excellent service to its consumers, including rewards, information on mining, new listings, cryptocurrency prices, necessary announcements, and trading suggestions.
By providing five language alternatives, the exchange caters to a diverse and large clientele. Its news area, for example, gives thorough information about important announcements, future events, enhancement voucher issuance, and rewards distribution.
Conclusion
ABCC is a cryptocurrency exchange platform that takes pleasure in providing a user-friendly and straightforward interface. The exchange makes it simple to swap cryptocurrency and gives step-by-step instructions for everything from setting up an account to executing deals.
The site is quite user-friendly. It provides a decent range of trading pairs and excellent charts to help with buying and selling choices. With holders receiving a percentage of the platform’s income, the addition of the ABCC token gives a solid incentive for users to keep their native token. ABCC appears to have a great future ahead of it. It was started by Calvin Cheng, who has a solid track record in business, and it is wonderful to have some openness about the firm behind it.
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