UPDATE 17 March 2020: This exchange is currently only open through its apps. The web service is down following what seems to be a DDoS attack. The exchange has released the following message on its website:
We will monitor the situation and let you know if anything changes with its web service.
To find a reliable exchange where you can start an account, just use our Exchange Filters and we'll help you find the right platform for you.
What is ABCC?
ABCC is headquartered in Singapore. It has been active since 2018.
Team & Ownership
ABCC Exchange was established by a famous technology and media magnate by the name of Calvin Cheng. It has several institutional investors backing the exchange, including, but not limited to, Funcity Capital, Dream Seeker Capital and BlockOrigin Capital.
The exchange clearly presents the team behind the exchange on its website. This is always comforting, as it at least makes it less likely that the team behind the platform will take of with your funds. ABCC also has an extensive number of supported cryptocurrencies.
The following are the main advantages of the exchange as highlighted by the exchange on the exchange’s website:
The exchange does not explicitly state that US-investors are prohibited from trading. Accordingly, we do believe (but we do not guarantee) that US-investors can trade here.
ABCC Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at ABCC:
ABCC Trading fees
The most important lesson to learn when it comes to picking the best cryptocurrency exchange site is that you must always check the fees. Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. ABCC doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”.
ABCC’s flat trading fee is 0.10%. This is a competitive fee, especially considering that the global industry average is arguably around 0.25%.
ABCC Withdrawal fees
When it comes to withdrawal fees, ABCC charges 0.0005 BTC when you withdraw BTC. This is marginally lower with the global industry average of BTC 0.00053 as per our Q3 2021 Empirical Fee Study report. Accordingly, neither the trading fees nor the withdrawal fees should deter anyone from trading at ABCC.
ABCC does not accept any deposits of fiat currency. This means that new cryptocurrency investors (i.e., investors without any previous holdings of cryptocurrencies) can’t trade here. In order to purchase your first cryptocurrencies, you need a so called entry-level exchange, which is an exchange accepting deposits of fiat currency. Find one by using our Exchange List!