Comparison of Bit vs Abcc [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Bit vs Abcc comparison!

Your expert: Alejandro Borja

bit

Bit

  • Threenvest valuation: 3,8/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

abcc

Abcc

  • Threenvest valuation: 3,6/5
  • US legal: No
  • Security: High 4,5/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

0.07%/0.04%

Earns

Yes

Customer service

3/5
0,10%

Fees

Yes

Earns

3/5

Customer service


Recommended for

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold

Yes
No

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

3.6 – Reasonable fees but higher for certain advanced trading options.
4.0 – Reasonable and low trading fees across various services.

Level

0.07%/0.04%
0,10%

Brief explanation

Bit.com offers a competitive fee structure that’s attractive for both casual and serious traders. The exchange charges a 0.06% fee for takers and a 0.04% fee for makers, which is below the industry average. This low fee schedule is beneficial for high-volume traders as it allows them to maximize their profits on each trade. Additionally, Bit.com does not charge any deposit fees for cryptocurrencies, though there are fees associated with fiat withdrawals and deposits, which vary depending on the payment method and the currency involved. Overall, this fee arrangement supports an active trading environment at a reduced cost.
ABCC Exchange implements a highly competitive fee structure, charging a uniform 0.10% trading fee for both makers and takers. This rate is significantly lower than the global industry average, which typically hovers around 0.25%. Such a fee model is advantageous for traders of all volumes, from small-scale to high-frequency traders, as it simplifies cost calculations and maximizes potential returns on each transaction. The clear and transparent fee policy at ABCC ensures that users are not subjected to variable rates or hidden charges, making it easier for traders to plan their trading strategies effectively.

Bit

bit
Read bit review
  • Security Methods: Bit.com employs advanced security protocols including multi-factor authentication, cold storage of assets, and continuous system monitoring, ensuring a high level of protection for user funds and personal data.
  • Reputation and Reviews: Since its inception, Bit.com has quickly built a strong reputation for reliability and professionalism within the crypto community. The positive reviews and testimonials from seasoned traders underline its credibility and trusted status in the market.
  • Trading Volume and Liquidity: Bit.com is known for its high trading volume and liquidity, which is crucial for executing large trades without significant price slippage. This makes it an ideal platform for institutional investors and professional traders who require quick order execution.
  • Transparency: The exchange is transparent about its fee structure, trading processes, and the security measures it implements. This openness is essential for building trust with users and is a core reason why many choose to trade on Bit.com.
  • Withdrawal and Deposit Policies: Bit.com offers clear and user-friendly policies regarding withdrawals and deposits. These policies are designed to provide convenience while also ensuring the security of transactions, which significantly enhances user trust and satisfaction with the platform.
  • Pros
  • Advanced trading features integrated.
  • High liquidity ensures efficient execution.
  • Competitive fee structure for traders.
  • Cons
  • Complex interface, steep learning curve.
  • No fiat currency support available.

Read bit review

Abcc

abcc
Read bit review
  • Security Methods: ABCC employs robust security protocols, including multi-factor authentication, cold storage of assets, and encrypted systems to ensure the safety of user funds and data. These high-level security measures mitigate risks of hacking and unauthorized access, making it a secure platform for trading digital assets.
  • Trading Volume and Liquidity: The exchange boasts a substantial trading volume and liquidity, which is indicative of a healthy trading environment. High liquidity ensures that trades can be executed quickly and at desired prices, which is beneficial for all types of traders looking to capitalize on market movements.22
  • Reputation and Reviews: ABCC has built a strong reputation within the crypto community for its reliable and efficient service. Positive reviews from users across various platforms highlight the exchange’s user-friendly interface, technical capabilities, and its commitment to providing a secure trading experience.
  • Transparency: The exchange is known for its transparent practices, particularly in terms of fee structure and trading operations. ABCC provides clear information on all transactions and charges, allowing traders to make informed decisions without worrying about hidden fees.
  • Customer Service: ABCC places a significant emphasis on customer support with a comprehensive service that addresses user queries and issues promptly. This dedication to assisting users not only builds trust but also ensures that traders can use the platform with confidence, knowing that help is readily available.
  • Pros
  • Advanced technical trading features.
  • Wide range of cryptocurrency pairs.
  • Competitive and diverse fee structure.
  • Cons
  • Complex fee structure, confusing.
  • Customer support needs improvement.

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Product selection

Native token

No
No

Earns

Yes
Yes

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Unknown
ABCC Digital Asset Exchange

Regulation

Regulation not specified
Not regulated

Year founded

Unknown
2018

Founder

Unknown
Calvin Cheng

Payment methods

Transfers

No
No

Mastercard

No
No

Wire transfer

No
No

Card

No
No

Comparative table

Bit FEATURES Abcc
Allows small minimum trades, accessible for those looking to start with modest amounts.
Minimum Trade
ABCC allows low minimum trades, making it accessible for beginners, though not the lowest in the market.
Competitive fees across trading types, appealing to high-volume traders due to lower costs.
Trading and Transaction Fees
Fees are competitive but can be complex and confusing for new users.
Offers a decent variety of cryptocurrencies, though not as extensive as the largest platforms.
Number of Cryptocurrencies
Offers a wide range of cryptocurrencies, suitable for diversified trading.
Provides a wide range of crypto-to-crypto trading pairs, enabling diverse trading strategies.
Crypto-to-Crypto Trading Pairs
Provides an extensive array of trading pairs, enhancing trading flexibility.
The website provides clear and detailed information about fees, policies, and trading options.
Website Transparency
Generally transparent about fees and policies, though some details may be hard to find.
Bit.com lacks an exchange card, limiting additional spending flexibility and benefits for its users compared to some competitors that offer branded cards with rewards.
Credit/Debit Card
Does not directly support credit/debit card transactions, limiting fiat access.
High-level security storage solutions including cold storage options to protect user assets.
Storage Offering
Offers secure storage solutions, including cold storage options.
Offers staking options but with limited rewards compared to leading competitors.
Staking and Rewards
Provides staking options but is less competitive compared to leading exchanges.
Both mobile and desktop platforms are well-designed, offering full functionality and user-friendly interfaces.
Mobile App and Desktop
Both mobile and desktop platforms are user-friendly and robust.
Customer service is available, but response times can vary, impacting user experience during peak times.
Customer Service
Customer service is available and responsive but could benefit from faster response times.
Efficient processes for depositing and withdrawing funds, though improvements could be made in speed.
Deposit and Withdraw
Supports a range of deposit and withdrawal methods, though not as extensive as some competitors.

Key features

Analysis tools

Basic charting tools
Basic charting tools

Mobile APP

No
No

Security

High 4,6/5
High 4,5/5

Additional features

Spot trading, margin trading, lending services, OTC trading
Spot trading, margin trading, staking, ABCC token (AT) rewards

Anonymity

Yes
No

Key points

Available cryptocurrencies

30+
50+

User-friendliness

Bit offers a straightforward and intuitive platform that is easy for beginners to use. The interface is clean and provides essential features without overwhelming new users.
ABCC provides a straightforward and easy-to-use platform, ideal for beginners. Its clean layout and helpful guides make the initial learning curve less steep, allowing new users to get up and running quickly with their trades.

Value for money

Offers reasonable value for money with competitive fees and a straightforward trading experience, though it may lack some advanced features.
Offers reasonable value for money with low trading fees and a variety of supported cryptocurrencies, though it may not have the lowest fees compared to some competitors.

Countries of operation

United States, Canada, United Kingdom, Australia, Singapore
Singapore, China, South Korea, United Kingdom, United States

Best for

Great for beginners and experienced traders looking for a straightforward trading experience with competitive fees.
Suitable for both beginners and experienced traders who are looking for a straightforward platform with a variety of supported cryptocurrencies and low trading fees.

Base currencies available

JPY, USD, EUR, BTC
BTC, USDT, ETH

Account

Trading

BIT exchange offers robust security and a user-friendly interface. While it provides essential trading features, it lacks the advanced tools required by professional traders. The exchange also has moderate liquidity.
ABCC provides an intuitive trading environment with numerous cryptocurrency options. It features competitive trading fees and a solid security framework. However, it lacks advanced trading tools which might be a drawback for professional traders.

Deposit and withdrawal

BIT exchange supports multiple deposit options such as bank transfers and cryptocurrencies. Withdrawals are processed efficiently, usually within a day. Fees are minimal, enhancing accessibility.
ABCC supports a variety of deposit options such as bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed within 1-2 business days with low fees.

Account opening process

BIT exchange provides an easy account registration process. Users need to provide personal details and verify their identity. The account is usually approved within a day, ensuring quick access to trading.
ABCC offers an easy and fast account opening process. Users need to provide personal details, verify their identity with documents, and the account is usually approved within one business day. It’s user-friendly and efficient.

KYC required?

No
No

Customer Service

BIT offers customer support through email and live chat. The support team is knowledgeable and responsive, but the absence of phone support and limited availability can be a disadvantage.
ABCC offers customer support via email, live chat, and a help center. The response time is fast, and the support team is knowledgeable, although phone support is lacking.

Security

BIT offers strong security features, including 2FA and encryption. Despite its robust security measures, the platform lacks regulation from major financial authorities, which could be a concern for some users.
ABCC offers robust security features, including 2FA and cold storage for funds. However, it is not regulated by major financial authorities, which might be a drawback for users seeking high security.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert on our website, I recommend Bit.com for traders looking for a robust platform that excels in derivatives trading and offers high liquidity. Its advanced security and comprehensive trading tools make it a strong choice for experienced traders. However, new traders should be aware that the platform’s complexity and limited fiat support could pose initial hurdles. Overall, Bit.com is a standout exchange for those looking to leverage sophisticated trading strategies in the cryptocurrency market.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert reviewing cryptocurrency platforms, I find ABCC Exchange to be a solid choice for traders looking for a robust trading environment with a good variety of crypto options. However, I recommend potential users to familiarize themselves with its fee structure and customer service capabilities to ensure it meets their trading needs. While the platform excels in security and trading volume, enhancing transparency and simplifying its fee system could make it even more appealing to a broader audience.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

More comparatives Bit and Abcc