abcc

Abcc Review 2024

Our veredict

ABCC, a cryptocurrency exchange, presents a mix of strengths and potential areas for improvement that could affect a beginner’s experience in the crypto market. The exchange stands out for its advanced technical features, offering a competitive trading environment with multiple options for various cryptocurrency transactions. It supports a robust suite of trading pairs, ensuring that users have access to a wide range of cryptocurrencies, which is a significant advantage for those looking to diversify their portfolios.
However, ABCC also faces challenges, particularly in the areas of customer support and fee structure. The exchange has been noted for its complex and potentially confusing fee system, which might be a deterrent for newcomers who prefer straightforward pricing. Additionally, customer feedback suggests improvements are needed in the support department to enhance user experience and provide timely assistance for trading issues. Overall, while ABCC offers a technologically rich platform for cryptocurrency trading, the nuances of its service offerings and support mechanisms may require careful consideration by new users to ensure it meets their trading needs and comfort levels.

Pros

Cons

abcc

Investing risks losing your money

3,6

Threenvest Score

Fees

0,10%

U.S Legal

No

With the confidence of Threenvest

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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To better understand our editorial guidelines and the investment methodology that supports our ratings, you can explore the information in our editorial policy.

About ABCC Exchange

Introduction ABCC Exchange, a relatively lesser-known yet efficiently operated cryptocurrency trading platform, was founded in mid-2018. It distinguishes itself by offering an accessible and feature-rich environment for trading a wide array of cryptocurrencies.

What is ABCC? ABCC stands as a digital asset exchange aimed primarily at active traders. It focuses on providing low-cost trading with a transparent fee structure and a variety of digital currencies paired mainly with USDT and USDC. The exchange does not cater to passive income features like staking, setting it apart for users interested solely in trading activities.

Background and History Established in 2018 and headquartered in Singapore, ABCC has carved a niche in the crypto exchange world by emphasizing a user-centric trading experience and competitive fees. The platform offers a unique “trade-to-mine” model, which rewards users with its proprietary AT token, further incentivizing active trading on the platform.

Founders The ABCC Exchange was co-founded by Calvin Cheng, a renowned figure in technology and media. His vision was supported by a team with diverse expertise in finance, tech, and consulting, which helped propel ABCC as a reputable platform within the competitive space of cryptocurrency exchanges.

Interesting Facts
  • ABCC was one of the early adopters of the “trade-to-mine” model, rewarding users with tokens that offer a share in the exchange’s profits.
  • Despite its lower profile compared to industry giants, ABCC has maintained a strong performance record with significant trading volumes and a broad selection of tradable cryptocurrencies.
  • The platform’s focus on maintaining low trading fees significantly undercuts the global average, making it an attractive option for traders looking to maximize their returns.

Why Choose Abcc?

Competitive Trading Fees: One of the standout features of ABCC is its low fee structure. Trading at just 0.10%, these fees are significantly lower than the global average, making it an economically wise choice for traders looking to maximize their returns. This can make a substantial difference in overall profitability, especially for high-volume traders​​.
User-Centric Trading Experience: ABCC provides a platform that is both intuitive and feature-rich, making it accessible for newcomers while still robust enough for seasoned traders. The availability of a mobile app ensures that trading can be done on the go, offering full functionality that mirrors the desktop experience. This user-friendly approach is complemented by the absence of a mandatory KYC process for initial trading levels, offering privacy and convenience​​.
Exclusive AT Token Benefits: The unique aspect of ABCC is its AT token, which not only allows users to reduce trading fees further but also participates in the exchange’s profit-sharing model. This “trade-to-mine” feature offers an additional financial incentive for traders, aligning the interests of the exchange with its users. By holding AT tokens, users gain a stake in the platform’s success, which can be particularly appealing to those who trade frequently​​.

Where it falls short

1. Support for Fiat Currency Deposits: Currently, ABCC does not accept fiat deposits, which can be a significant barrier for new entrants to the cryptocurrency market who do not already own crypto. By enabling fiat deposits, ABCC could attract a broader audience, including less tech-savvy users or those new to cryptocurrencies. Improvements could include integrating payment gateways that accept credit cards, bank transfers, and perhaps even digital wallets, providing a seamless bridge for users to transition from fiat to crypto easily.
2. Introduction of Passive Income Features: The lack of investment programs such as staking, savings accounts, or earning interest on crypto holdings puts ABCC at a disadvantage compared to competitors that offer these services. Introducing such features could not only retain existing users but also attract a new user base looking for more than just trading. Implementing staking or yield farming could provide users with the opportunity to earn passive income on their holdings, enhancing the overall value proposition of the exchange. This addition would also align with current trends in the crypto market where many users seek to maximize returns through various DeFi platforms.
Features Explanation
Minimum Trade
ABCC allows low minimum trades, making it accessible for beginners, though not the lowest in the market.
Trading and Transaction Fees
Fees are competitive but can be complex and confusing for new users.
Number of Cryptocurrencies
Offers a wide range of cryptocurrencies, suitable for diversified trading.
Crypto-to-Crypto Trading Pairs
Provides an extensive array of trading pairs, enhancing trading flexibility.
Website Transparency
Generally transparent about fees and policies, though some details may be hard to find.
Credit/Debit Card
Does not directly support credit/debit card transactions, limiting fiat access.
Storage Offering
Offers secure storage solutions, including cold storage options.
Staking and Rewards
Provides staking options but is less competitive compared to leading exchanges.
Mobile App and Desktop
Both mobile and desktop platforms are user-friendly and robust.
Customer Service
Customer service is available and responsive but could benefit from faster response times.
Deposit and Withdraw
Supports a range of deposit and withdrawal methods, though not as extensive as some competitors.

Investing risks losing your money

Xavier-tarraso-mascarell.jpg

EIP and Cryptocurrency Investor

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.

Fees

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.

Pros

Cons

ABCC Exchange employs a trading fee model that is both straightforward and highly competitive, making it an appealing choice for a diverse range of cryptocurrency traders. Here’s a deep dive into their commission structure and its implications for users.

Overview of Trading Commissions

ABCC Exchange charges a flat fee of 0.10% on trades, which is significantly lower than the industry average of approximately 0.25%. This flat rate applies uniformly to both takers and makers, eliminating any confusion and ensuring transparency. Such a fee structure is especially beneficial in a market where even a slight percentage difference can impact the profitability of high-frequency trading strategies.

Comparison with Industry Standards

When compared to other exchanges, ABCC’s fee rate positions it as one of the most cost-effective options available. For instance, many platforms have a tiered fee structure that adjusts based on the user’s 30-day trading volume or their balance of the native exchange token. While this can benefit highly active traders with lower rates, it often complicates the trading experience for new or less frequent traders who face higher costs.

Hidden Fees and Transparency

A crucial aspect of ABCC’s policy is the absence of hidden fees. Everything is upfront, which fosters trust and reliability—a significant factor when traders choose their preferred exchange. This transparency is vital in a market where hidden fees can often erode gains unexpectedly.

The Role of the AT Token in Reducing Fees

ABCC also offers a unique mechanism for reducing trading fees through the use of its AT token. Traders can pay their transaction fees with AT tokens, which grants them a discount, thereby lowering the effective trading cost even further. This utility not only adds intrinsic value to the AT token but also encourages its circulation and retention among the community.

The Impact of Fee Structure on Trading Behavior

The low fee structure incentivizes both high-volume trading and attracts smaller retail traders who might be dissuaded by higher costs. For high-frequency traders (HFTs), the minimal fee allows for aggressive short-term trading strategies without the burden of excessive overhead. Retail traders, on the other hand, can execute more transactions with a smaller capital outlay, making it easier to diversify their portfolios and manage risk.

Conclusion

In summary, ABCC’s commission structure stands out in the crypto exchange landscape for its clarity, competitiveness, and the added benefit offered by the AT token. It supports a variety of trading activities from day trading to scalping, offering advantages that can help both new entrants and seasoned traders optimize their trading results. The straightforward, low-cost fee approach, coupled with operational transparency and the opportunity to reduce fees further through the AT token, makes ABCC an attractive platform for users seeking to maximize their trading efficiency and profitability in the volatile crypto market.

Product selection

ABCC Exchange offers a comprehensive range of services and products geared towards active traders in the cryptocurrency market. The platform is particularly noted for its low trading fees and a variety of trading options, making it appealing to both experienced traders and newcomers. One of the standout features is the proprietary AT token, which allows users to participate in the trade-to-mine model, earning tokens that can be used for further trades or to reduce trading fees. This model not only enhances user engagement but also provides an opportunity for traders to benefit directly from the platform’s growth. Moreover, ABCC does not require KYC for initial trading levels, which streamlines the registration process and allows users to start trading quickly. This feature is coupled with a robust security framework to ensure the safety of user funds and information. The platform supports a multitude of cryptocurrencies and trading pairs, providing ample opportunities for users to diversify their trading strategies. Overall, ABCC Exchange’s services cater well to its target audience, prioritizing low fees, ease of use, and a range of trading functionalities.

Pros

Cons

ABCC Exchange offers a streamlined process for new users to sign up, buy cryptocurrencies, and understand the different account types, including a detailed guide on how to use the platform. Here’s a comprehensive breakdown of each step and component:

How to Sign Up on ABCC Exchange

  1. Visit the ABCC Website: Go to the ABCC official website.
  2. Register: Click on the ‘Sign Up’ button. You will need to provide an email address and create a password.
  3. Email Verification: A verification link will be sent to your email. Click on it to verify your account.

Opening An Account

  • After email verification, you can immediately start exploring the platform. However, for increased limits and functionalities, completing KYC verification is advised.
  • KYC Process: Provide necessary documentation (ID, proof of address) to remove any restrictions and enhance account security.

How to Buy Your First Cryptocurrency

  1. Deposit Funds: Initially, you can deposit cryptocurrencies directly if you already own some. Navigate to the ‘Deposit’ section, select your cryptocurrency, and transfer funds to the provided wallet address.
  2. Trading: Once your account is funded, go to the trading interface, select the desired trading pair, and execute your buy order using either a market or limit order.

Account Types

  • Basic Account: Allows trading without KYC but with lower withdrawal limits.
  • Verified Account: Requires completion of KYC. This account type offers higher withdrawal limits and access to a broader range of services.

How to Use ABCC?

  • Navigate through the platform to understand various functionalities such as trading pairs, order types, and market analysis tools.
  • Utilize customer support for any navigational help or trading queries.

Registration and KYC

  • KYC involves submitting identification documents and potentially a facial recognition step, depending on the region and expected trading volume.

Reminder

  • How to deposit money will be covered in the next section, focusing on different methods and fees associated.
This detailed guide is designed to help new users from registration to making their first trade, ensuring they can navigate the complexities of cryptocurrency trading on ABCC with ease.

Account opening

ABCC Exchange streamlines the onboarding process with a user-friendly interface that allows new users to register and start trading with minimal initial requirements. The platform does not require KYC verification for basic account functions, enabling users to trade immediately with a degree of anonymity. This feature is particularly appealing to those new to cryptocurrencies who wish to start trading quickly without navigating the complexities of detailed verification processes. However, for higher transaction limits and additional services, completing the KYC process will be necessary, ensuring compliance and enhancing account security.

Pros

Cons

ABCC Exchange offers a streamlined process for new users to sign up, buy cryptocurrencies, and understand the different account types, including a detailed guide on how to use the platform. Here’s a comprehensive breakdown of each step and component:

How to Sign Up on ABCC Exchange

  1. Visit the ABCC Website: Go to the ABCC official website.
  2. Register: Click on the ‘Sign Up’ button. You will need to provide an email address and create a password.
  3. Email Verification: A verification link will be sent to your email. Click on it to verify your account.

Opening An Account

  • After email verification, you can immediately start exploring the platform. However, for increased limits and functionalities, completing KYC verification is advised.
  • KYC Process: Provide necessary documentation (ID, proof of address) to remove any restrictions and enhance account security.

How to Buy Your First Cryptocurrency

  1. Deposit Funds: Initially, you can deposit cryptocurrencies directly if you already own some. Navigate to the ‘Deposit’ section, select your cryptocurrency, and transfer funds to the provided wallet address.
  2. Trading: Once your account is funded, go to the trading interface, select the desired trading pair, and execute your buy order using either a market or limit order.

Account Types

  • Basic Account: Allows trading without KYC but with lower withdrawal limits.
  • Verified Account: Requires completion of KYC. This account type offers higher withdrawal limits and access to a broader range of services.

How to Use ABCC?

  • Navigate through the platform to understand various functionalities such as trading pairs, order types, and market analysis tools.
  • Utilize customer support for any navigational help or trading queries.

Registration and KYC

  • KYC involves submitting identification documents and potentially a facial recognition step, depending on the region and expected trading volume.

Reminder

  • How to deposit money will be covered in the next section, focusing on different methods and fees associated.
This detailed guide is designed to help new users from registration to making their first trade, ensuring they can navigate the complexities of cryptocurrency trading on ABCC with ease.

Security

ABCC Exchange prioritizes security, offering robust measures to protect users’ funds and personal information. The platform employs an array of security protocols, including multi-factor authentication, encryption of sensitive data, and cold storage of the majority of cryptocurrency assets to minimize risks associated with online wallets and potential cyber-attacks. Additionally, ABCC’s commitment to compliance with regulatory standards enhances its legitimacy and trustworthiness in the eyes of its users. These comprehensive security features ensure that ABCC is a safe platform for trading digital assets, maintaining high standards of protection against unauthorized access and other potential security breaches.

Pros

Cons

ABCC Exchange prioritizes robust security measures to maintain a safe trading environment. Here’s a comprehensive analysis of the security section of ABCC, answering key questions and detailing essential features.

Is ABCC Legit?

ABCC Exchange is indeed a legitimate platform, established in 2018 and based in Singapore, a jurisdiction known for its strict financial services regulations. The exchange complies with applicable laws and regulations, striving to provide a secure and compliant trading environment.

Regulation and Licensing

While specific details on licensing were not provided, ABCC’s operations in Singapore suggest adherence to local financial regulations and standards, which are among the strictest globally. This compliance supports the exchange’s credibility and reliability.

Is ABCC Safe?

ABCC employs several rigorous security measures to ensure user safety:
  • Cold Storage: The majority of user funds are stored in cold wallets, which are offline and thus less susceptible to hacking.
  • Two-Factor Authentication (2FA): This additional security layer requires users to verify their identity through two different methods before accessing their accounts or making transactions, significantly reducing the risk of unauthorized access.
  • Encryption: Advanced encryption technology protects sensitive data transmission and storage within the platform.

Security Methods

ABCC uses state-of-the-art security practices including:
  • SSL Encryption: To secure users’ data from interception during transmission.
  • Regular Security Audits: To identify and mitigate vulnerabilities.
  • IP Address Whitelisting: Allows transactions only from known IP addresses.
  • Withdrawal Address Whitelisting: Adds an extra layer of security by restricting withdrawals to pre-approved addresses.

Security History

To date, ABCC has maintained a strong security record with no significant breaches or loss of funds due to cyber-attacks. This track record reflects the effectiveness of its security measures and operational excellence.

Conclusion

ABCC’s comprehensive security measures and regulatory compliance establish it as a secure and reliable exchange for trading digital assets. By continuously updating and fortifying its security protocols, ABCC ensures that it remains a safe platform for its users, thereby sustaining trust and safety in its trading environment.

Customer service

ABCC provides a responsive customer service system designed to assist users with queries and issues related to their trading activities. The platform offers multiple channels for support, including email, live chat, and a comprehensive FAQ section that covers a broad range of topics. This multi-channel support ensures that users can access help in a manner that suits their preferences and receive timely responses to their inquiries. The customer satisfaction levels reported suggest that while ABCC generally meets the expectations of its users, there is room for improvement, particularly in areas such as response times during peak periods and the depth of troubleshooting information provided for complex issues. Overall, ABCC’s commitment to maintaining a functional and user-focused support system contributes positively to the user experience, making it a reliable platform for both novice and experienced traders.

Pros

Cons

Customer Service at ABCC Exchange: A Detailed Analysis

Customer Support Overview ABCC Exchange prioritizes customer support as a critical component of its service offerings. Recognizing the diverse needs of its global user base, the platform has established a multi-faceted customer support system designed to handle inquiries and issues efficiently. Reputation and Customer Feedback
  • General Sentiment: The general user feedback on ABCC’s customer service is positive, with many users appreciating the accessibility and helpfulness of the support team.
  • Areas of Praise: Particularly noted are the platform’s responsive communication and the ability to resolve common trading and account issues promptly.
  • Areas for Improvement: Some users have noted delays during peak times and a desire for more detailed support for complex issues, suggesting room for enhancement in service depth and response speed during high-demand periods.
Methods of Contact ABCC Exchange offers several avenues for users to seek support:
  • Live Chat: For immediate assistance, users can access live chat support directly through the platform, which is available 24/7.
  • Email Support: Users can send detailed inquiries or concerns to a dedicated support email, which is monitored continuously.
  • FAQ and Help Center: A robust FAQ section provides answers to common questions, allowing users to self-serve many basic issues and operational questions without needing direct contact.
Response Time
  • Live Chat: Typically, responses are almost immediate, making it the quickest option for support.
  • Email: Responses via email can vary but are generally expected within 24 to 48 hours. During periods of high demand, these response times may extend slightly.
Additional Support Considerations
  • Multi-Language Support: Considering ABCC’s global user base, offering support in multiple languages can significantly enhance user experience and accessibility.
  • Proactive Support: Implementing a more proactive support system through regular updates, and notifications can prevent common issues and reduce the volume of support requests.
  • Training and Resources: Enhancing the training of support staff to handle complex queries more effectively and expanding the educational resources available to users can help reduce the dependency on direct support.
Conclusion ABCC Exchange’s customer service is designed to be comprehensive and user-friendly, aiming to address the needs of a diverse and global audience. By continuing to evolve its support mechanisms and responding to user feedback, ABCC can maintain and enhance its reputation as a customer-centric platform in the competitive cryptocurrency exchange market.

Is abcc Right for You?

Abcc compared to other crypto exchanges

abcc

Threenvest score

3,6

Fees

US Legal

Security

High 4,5/5

Investing risks losing your money

bingx

Threenvest score

4,7

Fees

US Legal

Yes

Security

High 4,9/5

Investing risks losing your money

Crypto.com

crypto.com

Threenvest score

4,9

Fees

US Legal

Yes

Security

High 4,9/5

Investing risks losing your money

Available cryptocurrencies and countries available

FAQs

ABCC Exchange offers a diverse selection of cryptocurrencies, including major ones like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC), among others, totaling around 44 different digital assets.
Yes, ABCC may restrict users from countries that face regulatory challenges or international sanctions such as North Korea, Iran, Syria, and the United States, where specific state laws complicate cryptocurrency trading activities.
ABCC allows users to trade with basic limits without undergoing KYC verification. However, for higher transaction limits and additional services, completing the KYC process is necessary to ensure compliance and enhance account security.
No, ABCC does not currently support direct fiat currency deposits. Users need to deposit cryptocurrencies to trade on the platform.
ABCC charges a competitive flat trading fee of 0.10% for both makers and takers, which is below the global industry average.
To withdraw funds, go to the withdrawal section, select the cryptocurrency and amount, enter the withdrawal address, confirm the transaction details, and complete any required security verifications.
ABCC employs multiple security measures including cold storage of the majority of assets, SSL encryption, two-factor authentication, and regular security audits to protect user data and funds from unauthorized access and cyber threats.

Final opinion on Abcc

At Threenvest, our comprehensive review of ABCC Exchange reveals it as a platform that balances competitive trading features with an accessible user interface, making it a viable choice for both experienced traders and newcomers to the cryptocurrency market. One of ABCC’s standout features is its highly competitive fee structure, with a flat rate of 0.10% per transaction, which significantly undercuts the global average. This, along with the trade-to-mine model that rewards active traders with AT tokens, provides both cost efficiency and an opportunity to share in the platform’s profits. Additionally, the lack of a requirement for immediate KYC verification allows users quick entry into trading, enhancing user convenience and privacy.
However, the platform is not without its drawbacks, especially when compared to other exchanges that offer more extensive services. The absence of fiat currency support limits accessibility for those new to cryptocurrencies, potentially hindering ABCC’s appeal to a broader audience. Furthermore, the lack of investment and passive income features, such as staking or savings accounts, means that it may not cater to the needs of users looking for more than just trading capabilities. Overall, while ABCC Exchange showcases strong fundamentals in security and user experience, its appeal is somewhat specialized. For our clients at Threenvest seeking a straightforward, low-fee trading environment with basic functionalities, ABCC could be a fitting choice, but those requiring more diverse financial services may need to look elsewhere.

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.

Do not invest unless you are fully prepared to lose the entire amount of your investment. This is a high-risk activity, and you should not rely on any guarantees of protection if something goes wrong.

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Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.

Investing risks losing your money