BCC Exchange Review
A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of BCC Exchange consists of four parts: general information, fees, deposit methods and security.
WARNING TO ALL INVESTORS! BCC EXCHANGE HAS BEEN OUTED AS A PONZI SCHEME. PLEASE AVOID TRADING AT THIS EXCHANGE.
BCC Exchange is a so called “decentralized exchange”. Decentralized exchanges are becoming increasingly more popular. They are definitely gaining market shares against their centralized counterparts.
Using the Bitconnect Exchange platform, you can exchange BCC to Bitcoins directly with no central organization involved. How should you know if BCC Exchange is then the best cryptocurrency exchange site for you? Well, continue reading.
Decentralized exchanges do not require a third party to store your funds. Instead, you are always directly in control of your coins and you conduct transactions directly with whoever wants to buy or sell your coins. Decentralized exchanges normally does not require you to give out personal information either. This makes it possible to create an account and right away be able to start trading. The servers of decentralized exchanges are normally spread out leading to a lower risk of server downtime. However, decentralized exchanges as opposed to regular top crypto exchanges normally have an order book with lower liquidity than the regular top crypto exchanges.
BCC Exchange does not explicitly prohibit US-investors from trading on its exchange. In any event, all US-investors should still perform their own analysis of whether their home state imposes any legal obstacles to them trading at any of the top crypto exchanges that could be the best cryptocurrency exchange site for them.
BCC Exchange Fees
BCC Exchange’s fees consist of deposit fees, trading fees and withdrawal fees.
Deposit fees vary dependent upon how you deposit.
Trading fees are 0.25% flat, meaning that takers and makers both pay 0.25% of the total order value of the trade as a fee to BCC Exchange.
Withdrawal fees are fixed at 0.0004 BTC for BTC-withdrawals.
More on these fees below.
BCC Exchange Trading fees
This trading platform offers a flat trading fee of 0.25%. It does accordingly not care about whether you are a taker or a maker. For investors who prefer to pick-up existing orders from the order book, this might be an attractive trading fee model.
The trading platform’s fees of 0.25% flat are in line with industry average.
BCC Exchange Withdrawal fees
BCC Exchange charges a withdrawal fee amounting to 0.0004 BTC when you withdraw BTC. This fee is below the industry average and thus constitutes a competitive advantage against other top crypto exchanges in the market.
Exchanges usually have couple of important features that makes them easy to use for new joiners to the cryptocurrency market. However, BCC Exchange does not accept any other deposit method than cryptocurrencies, so new crypto investors are actually restricted from trading at the exchange. If you are a new crypto investor and you wish to start trading at the exchange, you will have to purchase cryptos from another exchange first and then deposit them at BCC Exchange.
BCC Exchange Security
BCC Exchange has a security score of F, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is below industry average when it comes to top crypto exchanges.
Finally, as mentioned above, this was a decentralized exchange. Decentralized exchanges are still a minority on the cryptocurrency exchange market, with the centralized exchanges still dominating the field (mostly due to better liquidity). In any event, if you’re looking for a decentralized exchange, you could also check out the following quite popular ones: