ABCC is a cryptocurrency exchange. Full review: registering an account and logging into the site, depositing and withdrawing a deposit, trading on an exchange platform, commissions
ABCC is a relatively new cryptocurrency exchange that bills itself as a “world-class user-centric exchange”. The focus is on helping investors identify valuable blockchain assets, ensuring secure online trading, and providing professional trading services.
Official site: abcc.com
The exchange has its own AT token, which gives the right to a share of the site’s profits, like a share, and also uses a new model of “trade mining” that is becoming more and more popular on many exchanges.
ABCC founder Calvin Cheng is a tech and media tycoon who has worked with co-founders who have successful track records in financial services, management consulting, and internet firms.
|Stock exchange||ABCC Exchange|
|Year of foundation||2018|
|Operating company||AlphaBit Corporation|
|Top Product Manager||Zhang Lei|
|Investors||Funcity Capitali, Dream Seeker Capital, BlockOrigin|
|Fiat money||Yes (KYC)|
|Input and output||Cryptocurrency|
|Minimum deposit amount||0|
|Minimum withdrawal amount||0.002 BTC; 0.02 ETH; 10 USDT, etc.|
|Account protection||Google Authenticator; email; Telegram; SMS|
|Number of trading pairs||138|
|Markets||BTC, ETH, USTD, TRX|
|Cryptocurrencies||Bitcoin, Ethereum, XRP, Ethereum Classic,EOS, Dash, 0x, Basic Attention Token,BitTorrent, Cosmos, Beam, Grin, Litecoin, Storj, Qtum and others|
|Internal token||ABCC Token (AT)|
|Trade volume||$67 906 853|
|Types of orders||limit; market; stop limit|
|Competitors||Binance, Exmo, Localbitcoins, Bitmex, Gate, BitMax, Bibox, BitForex, Kucoin, etc.|
Features of the exchange
Exchange ABCC provides or plans to provide its clients in the future with the following features:
✅ Crypto trading. A significant number of cryptocurrencies are presented on the platform, which allows you to trade at a convenient time.
✅ Margin trading. When trading on ABCC margin, you can use leverage to allocate assets more efficiently and flexibly.
✅ Trade in contracts. Part of the service plan for this exchange is futures, options, investment portfolios and other asset-backed securities.
✅ Over-the-counter services (OTC). Interaction with trading partners including influencers, companies, businesses, hedge funds and other traditional financial institutions.
The user interface is intuitive and has an uncluttered design. The trade section has a detailed dashboard. There are charts for different periods of time – 1, 2, 4, 6, 12 hours, as well as daily and weekly. Another interesting function allows you to link your Telegram to receive real-time trading information about market trends.
Official website of the ABCC exchange
On the main page of the official website of the ABCC exchange, a good Russian translation is immediately evident, clearly different from the machine one. Therefore, it is quite possible to use the Russian version, which is a rarity for Chinese crypto exchanges, however, not all pages have been translated. The main page contains information about the listing of new tokens, the most popular and unpopular trading pairs.
Consider the main sections of the ABCC website:
The “Exchange” tab provides an interface for buying and selling cryptocurrency. Orders are created in the left column, in the center you can see the price chart, and on the right – the history of the last orders.
The Fiat Money Trading tab allows you to buy Bitcoin or Ethereum for real money from a VISA / Maestro card. For this, the cardholder must verify it, and the state must support the work with the Simplex payment system.
The AT section provides information about the mining of the token of the same name and its advantages, including:
✅ Distribution of 80% of all trading commissions of the site between AT holders (this does not take into account orders executed via the API or using the referral program).
✅ The opportunity to participate in the airdrop.
✅ Voting for the listing of a particular token is available only for token holders.
On the “Listing” tab, a form opens, through which you can offer your token for listing. You will have to answer several dozen questions for the application to be considered by the ABCC exchange.
Section HIVE – IEO platform on which the primary sale of tokens of promising blockchain projects is carried out. You can also apply for participation if you are the owner of a new project.
The “Referral program” tab informs you that you can earn up to 70% of the commissions of invited users (the exact figure depends on the volume of their trades and the total number of referrals). Payments are made once a week. An increase in the number of people invited leads to an increase in the referral level, which affects the reward.
To create an ABCC account, click on the corresponding button in the upper right corner of the home page to enter the registration page.
Enter your email address and password. The password must be at least 8 characters long: a combination of numbers, uppercase and lowercase letters. Make sure you read the terms of the agreement, check the box to confirm it. Click “Register”. To check security, drag the slider to the desired position.
An email with a confirmation code will be sent to the e-mail address. Follow the instructions in the email to activate your account. After that, you can log in to the ABCC website and start trading. It should be noted that if you enter your login and password incorrectly five times, your account will be frozen for 24 hours.
To enter your account, enter your email, password and 2FA code (optional):
Immediately after authorization, it is recommended to enable two-factor authentication by using the Google Authenticator application or receiving codes in the form of SMS to the specified phone number.
How to get verified
For traders without verification, a daily withdrawal limit is set: 10,000 USD. To increase the amount, you will need to go through an account verification.
- Find your profile in the lower right corner, hover over it with the mouse and in the menu that opens, select the item that goes to the account verification page (KYC).
- Provide a location. You can search for a city or region just by entering the first few characters.
- Enter your ID and name, upload a photo of your passport or ID card page. Click the Verify button.
Then wait for the information to be processed. If everything is fine, then usually one day is enough.
How to replenish, withdraw funds
To deposit funds into your ABCC Exchange account, go to the My Funds page at the top right. Select the coin you want to add to your balance, for example BTC. Click the Deposit button next to it.
You will see the wallet address. You can copy it using the button of the same name. Next, on the platform from which you are withdrawing money, insert the address in the “Withdrawal address” field and indicate the withdrawal amount. Go back to the official ABCC website, go to your finances again, there you can track your progress.
For example, Bitcoin address:
Click “Asset Management” – “Withdrawals”, go to the funds management page. Select the coins to withdraw, click the Withdraw button. Enter the address and withdrawal amount. Press the confirm button. ABCC will send a confirmation email to the address you used to register. Log in to your email, read the email and click the withdrawal confirmation button.
Go back to the ABCC home page, click History to track the status of your withdrawals.
If the account is not verified: no more than 10,000 USDT (or equivalent) daily.
If the account is verified: no more than 1,000,000 USDT (or equivalent) daily.
To buy or sell cryptocurrency, go to the “Market” section. The trading terminal is divided into several areas:
✅ On the left: the area for choosing a cryptocurrency pair. Markets: BTC, ETH, USDT, TRX. Below is the order filling form.
✅ By middle: open and closed orders of other traders.
✅ On the left: the chart, below it – the trading history, open orders, information on stop-limit orders.
Like other crypto exchanges, ABCC can be traded using limit or market orders:
- Limit Order serves for self-setting of the purchase / sale price. Then you need to wait until the market price of the asset reaches the price you set. The price specified in a limit order indicates the highest price the buyer is willing to buy or the lowest price the seller is willing to sell.
- When you place a market order, you buy or sell at the current market price. Just enter the total amount you want to buy or sell.
- Stop limit order. We indicate two prices in it: the stop price – at which the order is activated and the price-limit – at which it will be executed in full or in part.
For example, when the ATOM / USDT quote reaches the stop-limit mark of 4.1 USDT, a limit buy order at 4.0 USDT will open.
Fiat money trading
ABCC has partnered with Simplex to make credit card payments possible. The purchase is easy. Before moving on to trading fiat money on ABCC, you need to go through KYC or enable SMS authentication (for account security). Also, make sure Simplex services are available in your area. In addition, you must have a Visa or Mastercard.
- Click OTC (Fiat Money Trading) on the top bar.
- Select the cryptocurrency for the purchase, the purchase amount and the currency in which the payment will be made. The payment amount and the corresponding transaction fee will be calculated automatically (each payment from 50 to 20,000 USD / EUR, including transaction fees). Confirm the information to go to Simplex. A payment ID will be generated. It must be saved in order to track the payment status later. You will then be redirected from ABCC to the Simplex system.
- Confirm the payment amount, transaction fee and total payment amount. Enter your personal details and billing address. Click Continue.
- Enter your card details to complete your purchase. You may be asked to go through additional verification to complete your purchase.
Upon successful completion of the operation, you will be redirected back to ABCC. The purchase usually takes 10-30 minutes.
Simplex charges 5% of the payment amount as a transaction fee (a minimum fee of 10 USD / EUR will be charged if the payment is below 200 USD / EUR). The daily limit for the purchase of cryptocurrency is $ 20,000, and the monthly limit is $ 50,000 (or an amount in another currency, but equivalent to this one).
So far, you can only buy BTC and ETH, and only for USD or EURO. Both debit and credit cards are supported. It is worth noting that a payment can be declined for various reasons – related to the bank, geographic location, risks, etc.
You can check the status of the transaction on the Simplex Payment Status page. In case of problems, you need to contact the support service.
ABCC charges 0.1% of the volume of each trade. BTC, ETH and USDT are used as base currencies, and they also charge trading fees.
There are no commissions for replenishment; on withdrawal depends on blockchain network retentions.
ABCC Token (AT)
Crypto token ABCC (AT) is an ERC-20 ethereal token from the ABCC exchange. The fixed total supply is 210,000,000 tokens. Their holders have unique advantages. AT is released through trade mining (Trade-to-Mine scheme) + simultaneous release. This means that 50% of tokens are issued through trading, and the remaining 50% are issued in parallel with them.
Those who own AT can use it to enjoy various products and services on ABCC, including the ability to pay transaction fees or buy other cryptoassets with it. Token holders also get cost-effective access to the platform’s premium services. According to the developers, they have nothing against sharing the profits with users, and they themselves plan to receive income from the API and other additional services.
Advantages and disadvantages
Pros of cryptocurrency exchange ABCC ✅
✅ Rewards – token holders can receive additional income.
✅ New and convenient Trade-to-Mine system.
✅ A solid selection of coins for trading.
✅ Convenient interface, functionality.
✅ Easy to use even for beginners.
❌ The site is new, so there may be flaws and vulnerabilities.
❌ Fiat money cannot be traded in the usual way, only by purchasing through Simplex.
Cryptocurrency exchange ABCC is especially proud to provide a user-focused and intuitive platform. It makes it easy to trade cryptocurrencies and includes step-by-step instructions for everything from creating an account to making trades. The introduction of their own AT token provides people with a good incentive to work with the site and make money on it.
The ABCC exchange platform is really user-friendly and offers a good selection of trading pairs along with detailed tools and charts for making buy or sell decisions. Safety also plays a significant role. The developers call it a “paramount issue”, so the security architecture includes two-factor authentication, multisignature, hot and cold wallet separation. All this makes the crypto exchange a promising project, as evidenced by the stable value of the token.