US investors permitted
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 IDCM consists of four parts: general information, fees, deposit methods and security.
IDCM is a Chinese cryptocurrency exchange with a smaller selection of trading pairs. One of many other exchanges from China that you might be interested in (if this exchange is not to your liking) is BTCTrade.im.
IDCM launched in April 2018. In spite of being such a relatively new exchange, IDCM has great liquidity in its order book. In fact, IDCM is almost always one of the top 20 cryptocurrency exchanges every day with respect to trading volume. At the date of writing this review (19 September 2018), IDCM had a 24-hour trading volume of USD 74 million, putting it in place 18 in the list of cryptocurrency exchanges with highest trading volume. USD 74 million was on 19 September 2018 only 6.7% of Binance’s trading volume (Binance was number one this day), but it’s still impressive.
To our understanding, the exchange allows US-investors to trade here. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.
IDCM Trading fees
At this trading platform, they don’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. Their flat fee model is 0.10%. This is below both the industry average and it is also the second lowest trading fee level among all cryptocurrency exchanges from China (only AEX charges lower trading fees – 0.05%).
Good work, IDCM!
IDCM Withdrawal fees
The exchange charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This fee is below the global industry average. No other cryptocurrency exchange in China has a BTC-withdrawal fee that is this low.
All in all, the trading fees and withdrawal fees at this exchange are very competitive from both an international and national perspective.
Here, they offer wire transfer as a deposit method, but you can’t deposit via credit card. If you for any reason must deposit via credit card, you should use the Exchange Finder to find out which cryptocurrency exchanges that allow credit card deposits.
The security score of this coin exchange is 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.
If you have concluded that this is the exchange for you, congratulations! Go for it. But if not, find the best cryptocurrency exchange site for you by using our revolutionary matching tool.