Comparison of Phemex vs Abcc [ 2024 ]

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

Your expert: Alejandro Borja

Phemex

Your expert: Xavier Tarrasó

Abcc

Main points

Fees

0,10%

Earns

Customer service

3/5

0,10%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.1 – Low fees with a focus on derivatives trading.

4.0 – Reasonable and low trading fees across various services.

Level

0,10%

Brief explanation

Phemex implements a transparent and competitive commission structure, which is one of its standout features. The platform offers zero-fee spot trading for premium members, a unique model that encourages active trading and enhances affordability. For non-premium users, the fees remain competitive with the industry average. The fees for futures trading are also attractively low, with maker and taker fees structured to incentivize liquidity provision on the platform. This setup allows traders to manage their costs effectively, which is especially beneficial in a market where margins can be tight.

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.

Phemex

Robust Security Measures: Phemex employs comprehensive security protocols, including cold wallet storage, two-factor authentication, and advanced encryption technology to protect user assets and data.
High Trading Volume and Liquidity: With significant daily trading volumes, Phemex offers high liquidity, facilitating quick and efficient execution of trades without significant price slippage.
Transparent Withdrawal and Deposit Policies: Phemex provides clear and concise policies regarding withdrawals and deposits, ensuring users understand the terms of service and any associated fees clearly.
Strong Reputation and Positive Reviews: Since its launch, Phemex has built a strong reputation in the cryptocurrency community, supported by positive user reviews that praise its reliability, customer service, and platform stability.
Effective Customer Service: Phemex offers responsive and helpful customer support, ensuring that users' queries and issues are addressed promptly, which is crucial for maintaining trust and user satisfaction.

Abcc

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.

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Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

Phemex Financial Pte. Ltd.

ABCC Digital Asset Exchange

Regulation

Not regulated

Year founded

2019

2018

Founder

Jack Tao

Calvin Cheng

Payment methods

Transfers

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Phemex	FEATURES	Abcc
Phemex allows trading with relatively low minimums, making it accessible for beginners who wish to start small.	Minimum Trade	ABCC allows low minimum trades, making it accessible for beginners, though not the lowest in the market.
Offers competitive fees with several fee-free options for premium members, though slightly higher for regular users.	Trading and Transaction Fees	Fees are competitive but can be complex and confusing for new users.
Supports a wide range of cryptocurrencies, providing ample trading opportunities for users.	Number of Cryptocurrencies	Offers a wide range of cryptocurrencies, suitable for diversified trading.
Extensive selection of trading pairs, allowing users to diversify their trading strategies.	Crypto-to-Crypto Trading Pairs	Provides an extensive array of trading pairs, enhancing trading flexibility.
The website provides essential information, although some users may find details on fees and terms could be clearer.	Website Transparency	Generally transparent about fees and policies, though some details may be hard to find.
Phemex does not provide an exchange card for in-store purchases. It focuses on trading features and derivatives.	Credit/Debit Card	Does not directly support credit/debit card transactions, limiting fiat access.
Offers secure cold storage options, enhancing safety for user funds against potential cyber threats.	Storage Offering	Offers secure storage solutions, including cold storage options.
Provides staking options with competitive rewards, though options are more limited compared to specialized staking platforms.	Staking and Rewards	Provides staking options but is less competitive compared to leading exchanges.
Both the mobile app and desktop platform are highly user-friendly and robust, suitable for trading on the go.	Mobile App and Desktop	Both mobile and desktop platforms are user-friendly and robust.
Generally responsive customer service with multiple channels available, but some reports of delayed responses during peak times.	Customer Service	Customer service is available and responsive but could benefit from faster response times.
Offers multiple deposit and withdrawal methods, but some users have experienced delays and higher fees for certain methods.	Deposit and Withdraw	Supports a range of deposit and withdrawal methods, though not as extensive as some competitors.

Key features

Analysis tools

Advanced charting tools, technical analysis

Basic charting tools

Mobile APP

Security

High 4,9/5

High 4,5/5

Additional features

Margin trading, futures trading, staking, Phemex Earn

Spot trading, margin trading, staking, ABCC token (AT) rewards

Anonymity

Yes

Key points

Available cryptocurrencies

Primarily derivatives, few direct cryptocurrencies

50+

User-friendliness

Phemex provides a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.

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 good value for money with competitive fees and advanced trading features, suitable for both retail and institutional traders.

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

Global, including United States, Canada, United Kingdom, Australia, Germany

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

Best for

Suitable for both retail and institutional traders interested in derivatives trading with competitive fees and advanced features.

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

USD, BTC, USDT

BTC, USDT, ETH

Account

Trading

Phemex offers extensive trading options including spot, margin, and futures trading. It provides advanced tools suitable for experienced traders but might be overwhelming for beginners.

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

Phemex supports multiple deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low fees.

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

Phemex offers a seamless and fully digital account opening process. Users need to submit personal information and verify their identity. The process is quick and usually completed within a day.

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?

Yes

Customer Service

Phemex offers extensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance.

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

Phemex provides extensive security measures, including 2FA and cold storage. However, it is not regulated by major financial authorities, which might 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

As one of the experts reviewing cryptocurrency exchanges on our website, I find Phemex to be a highly compelling choice for traders. The platform impresses with its robust security features and a wide array of trading options, catering to both newcomers and seasoned traders. Personally, I appreciate the platform’s user-friendly interface and the fact that it offers high liquidity, which is crucial for executing trades swiftly and efficiently. I would recommend Phemex to anyone looking to dive into the world of cryptocurrency trading, especially those who value security and a diverse range of trading instruments.

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.