ABCC is a fast-growing digital assets exchange founded in April 2018 in Singapore. ABCC’s main aim is to provide secure and professional trading services. The company’s advisors and investors are listed on the website, and owner Calvin Chen is a technology magnate with a proven record in the business world. In this ABCC exchange review, we will explain everything you need to know before deciding to open an account on this platform.
Creating an account on ABCC is pretty simple. The users only need to enter their email address and password. Once you have confirmed your email, your account is fully active and ready to use.
ABCC follows KYC compliance and accounts need to be verified for withdrawals higher than 2 BTC. You will be asked to enter your location, name and an ID or passport number and photo. The verification process usually takes one business day, depending on the number of the applications.
To deposit funds to your account, you should go to Asset Management and click ‘Deposits’. Currently, there are more than 70 cryptocurrencies available for deposit, Bitcoin, Stellar, Tether, Tron, Lisk, are just some of them.
After you choose a preferred currency, the wallet address will show up. You can then, either enter the address into your wallet, or you can scan the QR code into your mobile crypto wallet. To confirm the transaction, go to Asset Management, and click ‘History’. There are no deposit fees.
Withdrawing is as simple as depositing funds, and you will find the withdrawal option, just under the deposit option. Select the currency you want to withdraw, enter the withdrawal address and amount, and click ‘Submit’. You will receive an email verification, and after reading it carefully, click ‘Confirm Withdrawal’. To check your withdrawal status, go to ‘History’. As we mentioned before, non-verified users can withdraw up to 2 BTC within 24h, while verified users can withdraw up to 200 BTC. To withdraw more than 200 BTC, you need to contact customer support for assistance.
ABCC is developing fast, adding new features constantly. At the moment of writing this ABCC exchange review, there are different services available: cryptocurrency exchange, fiat trading, digital asset trading – ABCC Cloud, and recently added – options trading.
To trade with cryptocurrencies, go to ‘Exchange’, and you will see the trading pairs in Bitcoin, Ethereum and Tether, as ABCC uses these three as their base currencies. After choosing the pair, you will see a page with the current price, 24h trading volume, order form, list of orders and a chart. ABCC charges 0.1% of trading fees for each transaction.
Fiat trading allows you to buy Bitcoin and Ethereum with fiat money. Currently, only EUR and USD are available, and each payment must be a minimum of 50 USD/EUR and a maximum of 20,000 USD/EUR, including a 5% trading fee. The fee is shown in the section below. For this action, you need to enter your personal information, billing address, credit card information, and verify your identity and contact information. You will receive the credit 20-30 minutes after the verification process is complete.
Options trading allows users to earn money by speculating if the Bitcoin price is going up or down, while ABCC Cloud is a SaaS platform developed in order to help their partners build their own digital asset exchanges.
The exchange has created their native token called ABCC token (AT). Members holding AT tokens can enjoy certain privileges, such as participating in different campaigns, where for example, they can gain some of the trading commissions collected by the exchange.
Privacy and Security
ABCC is putting effort into providing a secure platform for its users. The platform has 2-factor authentication available, email or phone authentication, and as an extra security measure, if the password is entered incorrectly 5 times, the account will be frozen for the next 24 hours. To avoid phishing attacks, the exchange strongly suggests checking carefully the URL address during the login process, to make sure you are entering the official website.
ABCC is a secure trading platform with multiple protection with over 5 layers separating trading actions from assets.
The platform has an extensive FAQ page, divided into 5 sections: new user FAQ, deposits and withdrawals, transaction guide, security guidelines, and about new listings. However, if you don’t find a suitable answer to your query, you can always contact the support team via an online form, or send an email to email@example.com.
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ABCC Exchange Review Summary
ABCC is a new exchange platform, but it has gained the confidence of its users with their unique approach to taking an active role in helping investors identify the value of decentralized technology assets.
They are offering a user-friendly interface that’s suitable for beginners, and their knowledge base covers all the things you need to know to start trading on the platform.
Fiat trading is limited to USD/EUR and BTC/ETH, and cryptocurrencies can be purchased only with Visa and MasterCard credit cards. The fees for fiat trading are relatively high. On the other hand, setting up an account is quite fast and easy, cryptocurrency trading fees are minimal, with a growing list of features such as Options trading, ABCC Cloud, Fiat trading and AT tokens.
Disclaimer: Buy For Bitcoin does not provide any warranties towards the accuracy of the statements in the above ABCC exchange review. Any content on this site should not be relied upon as advice or construed as providing recommendations of any kind. It is your responsibility to perform your own research of the platform. Trading and investing in cryptocurrencies involves considerable risk of loss and is not suitable for every investor.