By Shelly Melancon (Switzerland)
IDCM Review
The International Digital Currency Markets, IDCM, is a cryptocurrency exchange part of the IDCG, or International Digital Currency Group. IDCM appears to have been launched in April 2018, at the same time as its stablecoin, the Virtual Hong Kong Dollar (VHKD). The VHKD is tethered to the Hong Kong Dollar (HKD) in a 1:1 ratio and is accessible for trading on this digital asset market. According to an IDCM exchange review, they also provide mining via trading options with a 100 percent rebate transaction charge. On this mining site, it appears that revenue is distributed through dividends.
The IDCM website is available in eight languages, including English. Furthermore, it appears that they service the crypto world through 55+ active markets. Furthermore, they allow trading access to a variety of digital assets or cryptocurrencies. Bitcoin (BTC), Tether (USDT), Ethereum, and the Virtual Hong Kong Dollar (VHKD) are the most often traded currencies (ETH). They appear to accept both USD and HKD deposits.
IDCM also sponsors the “IDCM Alliance,” an alliance of cryptocurrency exchanges that makes it simple and inexpensive to create a crypto exchange and offers ongoing support. It appears to come with pooled liquidity and a slew of other advantages. Although it is unknown how broad this alliance is, IDCM appears to support at least 12 other cryptocurrency exchanges from nothing less than six other countries.
| Exchange Name | IDCM |
| Language | English |
| Min Deposit | 5 USDT |
| Deposit Fees | Free. Small Deposit Fees Apply |
| Fiat Deposit | Yes |
| Security | High |
| Easy To Use | Yes |
| Taker Fee | 0.2% |
| Make Fee | 0.2% |
| Official Site | https://idcm.io |
| Customer Support | Available At Ticket & Live Chat |
| Support | 24/7 |
About IDCM
Idcm.io advertises itself as a crypto trading platform and proponent of the concept of ‘alliance exchange,’ offering services such as fiat and crypto trading, project incubation, alliance exchange partnerships, and STO/IEO fundraising management. It is supposedly licensed through affiliated partners by the Bangko Sentral Pilipinas (BSP) and the Australian Transaction Reports and Analysis Centre (ATRC).
IDCM alliance exchanges can be found all over the world. So far, alliance branches have been created in South Korea, Singapore, the Philippines, Japan, Vietnam, Estonia, Dubai, and Taiwan. There are plans to open more branches in the future, namely IDCM Canada, IDCM UAE, IDCM UK, IDCM New Zealand, Russia, Abu Dhabi, Azerbaijan, Malta, New York, and Hawaii.
How do I register in the IDCM exchange?
Signing up for IDCM Exchange is a breeze. Go to the site and click the signup button. Fill out the registration form with accurate information such as your email address, phone number, password, and so on. After you’ve entered all of your information, you’ll receive an email with a verification link. Check your URL to complete the verification process. The following fundamental components are available on the main website:
- Trading in fiat cryptocurrencies (only USD and HKD can be deposited/withdrawn).
- Trading – the main trading page.
- IT – details regarding the proprietary token.
- IDCM Alliance – details on how to join the alliance.
The navigating process is fairly simple: you have all of the relevant information at your disposal. You can begin making deposits and trading as soon as you register.
Do you want to trade on the go? IDCM has a mobile app that is compatible with Android and IOS. You can be download the app from the official website.
How do I deposit IDCM Exchange?
Once your account has been verified, go to the upper right-hand side of your screen and tap the ‘deposit’ button. Choose the currency you wish to deposit, and you will be given the wallet information to which you must send the funds.
How do I trade on the IDCM exchange?
After funding your account, you can begin day trading at IDCM. You will be directed to the main trading section if you click on the ‘trade’ button at the top of the screen. You must now choose the trading pair with which you wish to trade. Finally, input the amount you would like to buy, choose between a ‘market order’ or a ‘limit order,’ and afterward place your trade.
How do I make a withdrawal from IDCM Exchange?
It is relatively simple to withdraw monies from a swipe. Go to the “withdraw” window, choose the asset you want to withdraw, and fill out all required fields. It is important to note that you will not be able to withdraw currencies unless you have secured your account with 2-Factor-Authenticator and whitelisted addresses.
IDCM trading fees
This trading platform does not charge separate fees for takers and makers. Instead, their fee plan is a “flat fee model,” and their flat-charge model is 0.20 percent. This is consistent with the previous global industry average trading fee (about 0.25 percent); however, compared to most newer exchanges, which only charge 0.10% or 0.15%, this trading fee is a bit excessive.
IDCM withdrawal fees
When you withdraw BTC from IDCM, you will be charged a withdrawal fee of 0.0005 BTC. This is less than the industry average. There is no other crypto exchange in China with such a low BTC withdrawal fee.
Overall, this exchange’s trading and withdrawal fees are fairly competitive on an international and national scale.
Limits on Transactions and Liquidity
The trading restrictions are not mentioned on the website or other third-party sources: it is up to the users to determine. However, deposit and withdrawal limits are determined by the currency. For example, the platform requires a minimum deposit of $500/5,000 HKD / 0.01 BTC / 10 XRP, which is inconvenient for users who conduct minor transactions. Withdrawal limits are roughly the same as deposit limits, indicating that IDCM is the place to be for high rollers.
It should be emphasized, however, that IDCM assures strong asset liquidity: the volume of transactions occurring in the alliance is approximately five times that of the platform itself.
Exchange Features
IDCM is very competitive due to a large number of unique features and oddities. First, IDCM is the world’s first exchange platform to adopt a consensus mechanism: functioning as super-nodes, alliances constitute the cryptocurrency trading platform. Transactions conducted outside of the platform provide additional liquidity to the alliance. The volume of exchange can be five times that of trading.
Second, IDCM offers a wide range of high-quality financial services. It delivers real-time market information, recommends profitable trading tactics, and provides other marketing services. Traders can set price alerts so that if the price surpasses 10% of the present rate, the buyer and seller are both alerted.
Third, IDCM is an excellent DApp platform for eCommerce projects, trading product developers, game developers, and social media developers. The unique development platform DAICO is a one-of-a-kind solution for high projects. The IDC (IT) token will also be used on the platform: it may be used to divide earnings and access some services.
Please keep in mind that additional cryptocurrency exchanges are welcome to join the alliance, but only the most dependable and high-quality projects will be permitted to merge. Those who participate will have access to IDCM’s resources, technologies, and the exchange platform. Every website featured will be protected by law in the country it represents: The exchange platform has well-developed legal protection algorithms. The decision to accept new exchanges is based on the outcomes of voting protocols.
Main Advantages
Because of the numerous perks accessible, the Chinese crypto exchange attracts both Chinese and international users:
The platform’s excellent performance and speed is a crucial benefit. IDCM is supported by an alliance that can handle up to 1,400,000 orders per second. Furthermore, because of the high liquidity, user orders are filled swiftly.
AI security systems and Multichannel distributional memory complement military-grade encryption technology. SSL encryption protects users’ personal and payment information. Decentralization and super-nodes enable a quick consensus method, which improves transaction efficiency and enables users to engage in platform management.
Blockchain technology guarantees data integrity, transparency in transactions and permits independent audits. IDCM makes every effort to maintain liquidity. Because it is organized as an alliance, it has widespread support and is backed by powerful investors.
Because of the low entry barriers, the alliance is rapidly expanding. There are only two requirements for an exchange platform to join IDCM: 1) Purchase a domain name; 2) Pay the IDCM alliance charge. The organization continues to support its partners in every way it can. As a result, the quantity of available trading coins is likely to increase soon.
Online customer service
IDCM offers good customer service 24 hours a day, seven days a week. Following the standards of C2C trading platforms, IDCM allows users three hours to upload payment proof into the system. If the digital currency is not released within three hours, the IDCM operations staff will complete the transaction. IDCM crypto exchange offers quick asset transfers and round-the-clock online support to ensure a simple operation and a smooth transaction.
Users can reach the assistants 24 hours a day, seven days a week via email support@idcm.io or by phone. Their customer service representatives are fluent in numerous languages, including Chinese, English, Vietnamese, French, Korean, Dutch, and Japanese.
Apart from that, the knowledge library contains a wealth of useful material for users. The FAQ area contains a few guides on account security, trading, deposits, and withdrawals. There is also a complete set of the API documentation for developers. Please don’t hesitate to reach out to their customer support if you have any questions. A multilingual community service platform with millions of members has been built for many languages.
IDCM crypto exchange has a wealth of thorough operating instruction materials in the help center, letting you become transaction proficient in no time.
Diverse transaction
Despite China’s stringent crypto legislation, the industry offers a diverse range of crypto exchange platforms, and the number of useful crypto-related websites continues to grow. IDCM, despite being a relatively new exchange platform, has rapidly become a welcoming location for traders. They have carefully picked only high-quality currencies and multi-currency options to ensure dependable transactions.
Users compliment the company’s excellent liquidity and performance. IDCM now offers 22 currencies and 38 trading pairings. The daily trading volume has surpassed $204 million, with BTC/USD transactions alone valuing 11850,309 BTC.
What distinguishes it is its high trading volume and lightning-fast transaction processing. Even though the quantity of trading pairings is far from impressive, the exchange platform only lists the most trustworthy tokens. IDCM promises unrivaled transaction and client information security. The alliance system enhances this platform’s resilience and speed.
Security
IDCM includes fundamental security elements such as SSL encryption and a firewall. But don’t forget that your cybersecurity is in your hands: there are a few ways to protect your account.
Go to account settings before you hurry to make a deposit and set up the account safely. IDCM provides security mechanisms such as a password and PIN code (created upon registration), two-factor authentication, and verification. IDCM employs multiple signatures, multi-level firewalls, and separate hot and cold wallets to reduce user asset risks in all dimensions.
It is strongly advised to use Google’s 2fa. How do you do it? In IDCM, go to Security settings and pick 2fa. Install the 2FA app on your mobile device (both iOS and Android compatible versions are available). Open the app, press the + button in the top right corner, and select ‘Scan QR-code. As soon as the scanning is finished, the app will display a 6-digit code: Copy and paste this code into IDCM’s Google authentication code panel, then click Enable Google authentication. If your phone does not read the QR-code, try increasing the brightness of your screen or scanning it with a third-party app.
IDCM, unlike many other exchange platforms, does not need users to go through identity verification, although it may increase trust in your account and avoid hacking. The verification process can take several days to many weeks and requires this personal information:
- Passport/ID number (scan + selfie)
- Residence country
- The user’s full name.
Bonuses
Although no unique bonuses are offered to newbies, IDCM offers a large referral reward: customers can receive a 30% trading commission savings by referring their friends. To be more exact, you receive 20% of the trading fees generated by your friends, as well as 10% of the commission fees generated by friends that register through them. You will not receive a prize if they are detected engaging in fraudulent activity.
Traders can also test the new ToM (Trade-to-Mine) method and receive IT token dividends. That is, transaction fees are transformed into IT currencies and returned to users. The more transactions you complete, the greater your benefit.
Pros
- Exceptionally fast transaction processing
- The website provides an amazing user experience due to easy navigation, a mobile application, and a specific charge policy.
- IDCM’s transaction costs are among the lowest in both the Chinese and international cryptocurrency exchange platforms markets.
- It is one of the earliest exchange platforms to leverage Trade-to-mine technology, allowing users to earn IT tokens simply by making trades.
- IDCM is a few crypto exchanges that do not trace user transactions, such as what coins are spent on. Two-factor authentication improves personal security.
- Aside from being a trading platform, IDCM also acts as a trader’s consultant, providing information regarding token rates, alerting traders to price swings, and displaying relevant infographics. All of the material (core benefits, banners, information, announcement news, trading volume, partners, links, and social media) is completely customizable.
- IDCM ensures that all assets present have high liquidity and user orders are handled rapidly. If you specify an agreed Buy/Sell price, you may rest assured that your order will be processed immediately.
Cons
- The trading pairings available are limited: IDCM only accepts the most popular cryptocurrencies.
- Credit/debit card deposits are not accepted.
- The platform’s website interface is available in several different languages. Customer service is available in eight different languages. This means that IDCM is not equally accessible to people from different countries. The project’s global presence must be expanded.
- Relatively high withdrawal and deposit limits: IDCM is appropriate for committed traders who can afford to invest hundreds of dollars.
- Only HKD and USD are accepted as fiat currency for deposits.
- Margin trading is not permitted.
Conclusion
IDCM is a centralized crypto asset exchange platform based in China. It has offices in several countries. This platform has 80 Spot trading markets and 20 unconfirmed markets. This platform has no liquidity.
This platform does not accept fiat currency, although stable currencies such as USDT and USDC are extensively used. USD deposits are permitted with a 2% fee. Crypto deposits are completely free. In this platform, maker and taker fees are both 0.2%. This is a trading commission that is comparable to the typical market rate. The C2C transaction fee for an order is 0.25 percent. However, it is free for a taker.
The IDCM platform has earned the right to be dubbed one of the best crypto platforms in China and the world by providing its users with many trading opportunities and useful instruments. Its makers aim to stay ahead of the technological curve and use the greatest security procedures to keep clients safe. IDCM would be equally useful for both novice and experienced traders: rapid order processing and simple navigation make for an excellent user experience. The only significant disadvantage is the limited number of trade pairs available. However, because the IDCM alliance is allowed to join third-party exchange systems, the situation may improve. Many newcomers will undoubtedly seize this opportunity with both hands.
You shouldn’t pass up your chance either: rumors suggest that IDCM may discontinue regular registration of new members favoring complete registration via referral links.
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