ABCC cryptocurrency exchange review: prospects and recommendations for use

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The development of the crypto industry in 2022 is undergoing serious tests.

The market drawdown that began late last year brought a lot of problems to investors and traders, especially those who bought assets at the peak.

On the other hand, the number of ICOs and new projects directly or indirectly related to cryptocurrencies continues to grow.

Crypto exchange ABCC , which is the subject of today's review and one of the most successful projects of the year.

What is the ABCC crypto exchange?

Behind the original abbreviation lies a more than prosaic name - AlphaBit CryptoCurrensy Exchange.

The site began its work on April 9, 2022 at the instigation of Calvin Cheng , an entrepreneur and multimillionaire from Singapore.

In the past, Cheng was a member of the Singapore Parliament, which partly explains the fact that the site very quickly went through all the bureaucratic procedures and entered the market.

It is much more difficult to explain the fact that the platform entered the TOP 15 in the world in just 6 months.

Most likely, the founder’s entrepreneurial experience and his ability to place the right people in key positions worked here.

The official version explaining the high popularity of the project is the genuine interest in it from respected people in the industry:

• Zheng Lei is the CEO of blockchain projects such as Yee and Yee Call;
• Forest Chen is a well-known Asian entrepreneur who pays close attention to new blockchain projects, noticed that his investments turn out to be successful regardless of the market situation;
• Cheng Weixing is another well-known entrepreneur in crypto circles, a venture investor and a member of the Forbes list.

The founder of the company himself explains the success of the brainchild as follows: “The administrators and employees of the project pay maximum attention to ensuring that every client is satisfied with the work of the platform.

Moreover, every day we test new and new solutions that set us apart from our competitors and give us no options in choosing a platform for crypto trading.”

To what extent all of the above is true we will find out from the review.

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Bets on the outcome of the event

A prediction market is a tool that allows you to make a forecast of the likelihood of a certain event or parameter value.

For example, the US presidential elections are scheduled for this year. The prediction market allows users to place bets on candidates in the 2022 presidential race.

Customers of the site can bet on victory or defeat of Bernie Sanders (BERNIE), Donald Trump (Trump 2020), Joe Biden (BIDEN), Mike Bloomberg (BLOOMBERG), Pete Buttigieg (PETE) and Elizabeth Warren (WARREN).

For example:

The rate of each futures depends on the confidence of the exchange community in the victory of one or another election participant. For example, Trump 2022 is currently trading at $0.618. This means that 61.8% of FTX users expect the incumbent to be re-elected. If this happens, the price of the contract will rise to $1, and the others will become worthless. At the same time, it is possible to open long and short positions.

Futures contracts that expire to set values ​​once the final outcome is confirmed are currently available for trading in the market.

Registration on the ABCC exchange

The procedure is typical for the vast majority of Internet resources, so it should not cause difficulties even for a novice user.

On the main page of the site there are corresponding links, clicking on which opens the authorization or registration menu, respectively.

After filling out the form and marking your agreement with the project’s work policy, we expect a verification letter and a link to confirm registration to the specified mailing address.

All key functions are accompanied by the need to solve an original captcha, which is a puzzle.

When logging in for the first time, we suggest protecting your account as much as possible by activating two-factor authentication.

The ABCC crypto exchange pays a lot of attention to security, both from the developers and from the client side.

Force majeure, which occurs every now and then with various exchanges, has significantly undermined the faith of large clients in the reliability of centralized platforms. After all, it is large traders who generate not only high daily turnovers, but also create liquidity of key assets with their orders. Therefore, it makes sense to listen to the recommendations of the ABCC trading platform and take maximum measures to protect the account from the user side.

Despite the fact that there have been no confirmed cases of theft of coins from customer accounts for the ABCC exchange, such incidents occur quite often, including with famous platforms.

Therefore, the basic account of a new client is limited to a daily withdrawal limit of 2 BTC.

As we can see, from the message attached to the account, verification will expand the possibilities for work by 100 times, that is, the limit will be 200BTC per day, which is a very impressive figure and allows large traders to use the ABCC crypto exchange in the process of arbitrage with cryptocurrencies.

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Support and social tabs

News is regularly posted on the ABCC exchange website. When planning to trade, it makes sense to look at publications in order to refrain from transactions with coins that are temporarily unable to be withdrawn.

The Help section is very detailed, with instructions and illustrations. All common questions and problems are addressed. If the answer is not found, you can write to technical support:

You can also use a quick search in the Database, only the request must be entered in English.

Groups with live users are actively developing on the social networks Reddit, Twitter, Facebook and Telegram. Participants enthusiastically discuss the prospects of the ABCC exchange and the AT token. It is believed that due to limited emissions, the AT rate will only increase in the long term.

Account verification on the ABCC crypto exchange

Completing it not only expands your trading opportunities, but also helps you defend your account in any controversial issues.

You must start the procedure in your personal account, in the “Check” .

The first stage of verification will be to select your country of residence.

In accordance with the selected country, a form opens for filling out personal information and the corresponding format of documents verifying it.

Next, you need to photograph the document unfolded and again, but holding it next to your face, so that you can make out what is written in the document and compare the photo.

Note ! The latter requirement has been introduced into the identity verification process recently, and more and more sites are working with this algorithm. This is due to the fact that the management of the platforms realized the need to work closely with governments and international legislation. It was his articles on combating money laundering and the financing of terrorism that became the reason for the introduction of a clause on monitoring the compliance of the person with the documents. In the past, there have been cases where verification was carried out using stolen or counterfeit documents.

If any of the verification components fails the test, the support will definitely indicate this and carry out the procedure immediately after the necessary changes are made.

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How traders' funds are protected

ABCC developers have implemented security systems to protect users’ transactions and cryptocurrency on the site. The exchange uses a micro service framework consisting of more than 30 distributed (and isolated from each other) trading and asset storage systems. The site conducts regular security audits, and also has risk control systems responsible for the security of cryptocurrency in user wallets.

To further protect their wallets, traders can activate two-factor authentication (2FA) - a code can be received via SMS or email.

ABCC Security Issues

Some of them were mentioned in passing at the beginning of the review.

Let's look at them in more detail:

• Two-factor authentication via a mobile device is used by all serious companies to identify clients. As an alternative, you can use SMS confirmation;
• Segregated storage of assets . The fact of storing the bulk of cryptocurrency outside of crypto exchange accounts is not news; many companies do this. This method is effective when attempting to hack or interfere with the operation of internal accounts. ABCC went further and divided all assets into 30 storage facilities that were in no way connected with each other. Even if one of them is hacked, clients will not suffer losses, since the exchange undertakes to compensate them;
• Constant checks of security algorithms . A group of employees from the platform testing department conducts constant checks of various security sectors, including creating local force majeure for certain structures.

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Personal Area

So, after registration, at the top right of the screen you will see the following sections: “My Capital”, “Orders”, “Account”. Let's look at each of them in detail.

"My capital"

This section contains:

• “Balance” - account information;
• “Mining Rewards” - information about received rewards;
• “Deposits” - tab for replenishing the balance;
• “Withdrawal” – tab for withdrawing funds;
• “History” - detailed statistical information about the trader.

"Orders"

Here are located:

• “Open order”;
• "Order History";
• "Trading History".

There is no need to decrypt these tabs. We think everything is clear here.

"Account"

Account sections:

• “Account” - change settings, enable notifications, account verification;
• “Invite friends” - your affiliate link, information about referrals;
• “Verification”—account verification;
• "Sign Out".

Account replenishment and withdrawal of funds

Like any cryptocurrency exchange, ABCC is a multi-currency storage facility for all coins and tokens traded on the site.

In total, there are 58 assets in circulation here, including both TOP coins by capitalization and promising newcomers to the industry.

At the time of writing, the daily turnover was about $38,000,000.

ABCC does not support fiat funds, as the Australian government is extremely strict in regulating the flow of fiat money, especially foreign ones.

Completing the licensing procedure could take a very long time, given that the legislative framework of the country of registration of the ABCC crypto exchange is not prepared for such procedures.

At the time of registration, the system generates wallet addresses for all assets present on the site.

To replenish a specific wallet, go to the “My Capital” , then to “Balances” .

Here, by default, the total account balance is displayed, expressed in BTC.

Please note that there are no other assets. They are hidden because their balance is zero.

Uncheck the box next to “Hide low balance” and all available assets will be displayed.

Opposite each asset there is a standard menu - deposit/withdrawal/exchange. By selecting the appropriate link, we go to the asset movement page.

Replenishment occurs by transferring an asset from any wallet.

The minimum replenishment amount is not regulated, but it should not be less than the network commission at a particular moment. It is best to deposit funds in large quantities, then the transfer fee will be less noticeable for the overall balance.

Withdrawing funds from ABCC

The procedure is the reverse of replenishment. The corresponding window displays the current balance and a form to fill out.

Please note that for withdrawals you can use the account linking function to protect yourself from viruses that replace the receiving address in the clipboard.

The minimum withdrawal amount is displayed at the bottom of the withdrawal page for a specific asset.

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Reviews of work Abcc.com

Reading reviews from clients who have already traded on the site, it is worth noting the safety and efficiency of the work. It is interesting that some note that previously there were more than 150 trading pairs, but now there are about 120 left. You can also see what many define as a strong point - the presence of their own applications for IOS and Android. Among the things that are very attractive about the platform are the following:

1. regular airdrops;
2. trading competitions;
3. deposit bonuses;
4. traders' battles.

You can work not only with the exchange, where there are good rates for coins, fast exchange and many currency pairs with a loyal commission from the service itself, but also make a profit for saving branded tokens. If you look at “News”, you can see that the team is constantly working on updates, improving the technical capabilities of the site. As expected, the API was connected for functional ease of use, which has already received positive reviews. This policy in technical development indicates the confident position of the exchange and that it is constantly improving. The downside is the low liquidity of some working instruments. I wish that cooperation with Abcc.com will be productive, effective and profitable: that you will always find profitable rates, and that your profits will increase by maintaining the site’s token.

Author Ganesa K.

A professional investor with 5 years of experience working with various financial instruments, runs his own blog and advises investors. Own effective methods and information support for investments.

Trade and exchange

The trading process is no different from other platforms. moment.

The simplicity and uncluttered interface is noteworthy.

All key tools are available on one screen, making it easier and faster to work in volatile markets.

In the main menu, until recently, when you went to the “Exchange” , you went to the exchange, but now an additional “Pro BETA” tab has appeared.

This format of work is even more simplified and looks like options trading for advanced users.

Trading instruments are reduced to three main markets – BTC, ETH and USDT.

There is also a search by asset abbreviation, and the system will offer all options.

Actually, trading is carried out according to the classic Forex system, when the created order is first checked for compliance with the parameters with counter offers from other traders, and only if it is not fully or partially redeemed by them, it is placed as a new order in anticipation of a counter offer.

On the other hand, the trader can select one of the offers available in the market order book, then the transaction is carried out instantly.

Important ! ABCC management is open to suggestions and continually surveys users regarding what order formats they would like to see on the exchange. For this purpose, a separate section is allocated, where, in addition to current offers, account activity for all orders is displayed. If an inaccuracy is suddenly noted, the support will help establish the truth.

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List of tradable tokens

Popular cryptocurrencies and trading pairs with the highest turnover on the exchange:

ABCC token (AT)

Issuing your own asset, backed by an existing business, has become more of a rule among crypto exchanges in recent years.

ABCC were no exception and launched their own AT token along with their main activities.

The total emission volume was 210,000,000 AT tokens. The production is limited and should increase in price significantly in the future.

The peak value of the asset was $0.34, at the time of preparation of the material – a little over 18 cents.

Against the backdrop of the general decline of the market and an almost threefold decrease in trading volumes on the platform, the situation is more than adequate.

The main calculation of the developers is based on the fact that actively traded coins with a low price will become an alternative to key cryptocurrencies that have gone to new price heights. Users’ interest in the internal asset is fueled by the fact that mutual settlements within the system carried out in AT turn out to be noticeably cheaper than in other tokens.

Moreover, clients holding AT in internal exchange wallets receive payments from the fund.

Where ABCC allocates 80% of its trading fee revenues.

When launching the crypto exchange project, it was decided to waive the commission altogether. This attracted a large number of participants to the platform.

However, the release of AT and subsequent developments showed that without additional motivation, the token will not achieve much success.

The first major update introduced an exchange commission of 0.1% per transaction, as well as a completely new algorithm for generating Trade-to-mine coins.

It is an innovative solution that encourages active traders to be more active.

Thus, each transaction generates a certain amount of AT token, which the participants of the transaction receive in shares proportional to the activity.

These coins, as mentioned, receive the bulk of the exchange’s profits from commission fees on transactions.

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Money for holding under the AT Rewards program

To increase interest in their tokens, the exchange developers decided to share profits with coin holders. They allocate 80% of the commission to distribute dividends to everyone who leaves AT on their internal balance.

At the moment , for every 1000 AT the holder receives $1.93 in various cryptocurrencies (USDT, ETH, BTC).

Essentially, these are passive investments, and users often talk about this in reviews. The only point is that over time the amounts become smaller, but it is still an interesting way to make money with investments.

Although, if you are an active trader, you carry out a lot of transactions and receive AT for them, the balance will grow on its own.

ABCC Cloud cloud solution for creating crypto exchanges

Continuing the story about the innovations of the Australian cryptocurrency exchange ABCC, it is necessary to mention the recently launched ABCC Cloud service.

This project was developed as part of a program to strengthen the platform as a developer of blockchain technologies by investing in infrastructure components.

In fact, it offers a cloud-based solution that provides developers with the tools to create a full-fledged secure crypto exchange in just 1 day.

Partner companies whose interests include the need to create their own trading platforms can choose from 5 ready-made offers that differ in scale and number of add-ons, but have very good protection and functionality.

An additional benefit for the client is that he receives a finished product, which is constantly updated and supplemented without the need to delve into all the complexities and management features on his own.

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What is AT cryptocurrency used for?

There are several usage scenarios:

• within the framework of ToM, the commission is compensated with AT tokens;
• in the referral program AT are used to reward those who bring new clients. The affiliate program is 2-level, for your referrals you will receive 20% of their income as part of PoT, as well as 10% from those users attracted by your referrals. A reward is also given for attracted users, for example, if you manage to attract 50 new clients, the reward will be equal to 250 AT tokens, 10 tokens will be paid for each new client. Details on the size of the reward can be found on the website of the crypto exchange. Referred clients also receive bonuses; for them, the reward will be 10% of the coins mined as part of “mining”;
• As part of Airdrop, ABCC credits AT token holders with a certain amount, its value is calculated depending on how many exchange coins you hold in your account. In total, 80% of the income collected through commissions is allocated to Airdrop. The website has a counter for amounts already paid and the current amount;

• in the future, AT coins will allow access to special exchange services. For example, to closed paid services ABCC.

Voting for new assets

Another innovation that is being actively implemented by the most effective sites.

The process is that all incoming proposals from developers to introduce a new token into the exchange listing are assessed not by an internal commission and the team’s willingness to pay for the placement (as was the case before), but by allowing users to decide the fate of new tools themselves.

The voting process is set up in such a way that only accounts registered on the ABCC exchange can cast a vote (the first benefit is attracting new clients).

The conditions for an asset to be listed are a place from 1 to 3 in the general listing (the second benefit is that users of forums and communities learn about the new asset and exchange from voting advertisements and become clients of the platform).

Practice shows that this approach makes new assets more in demand, which increases the number of transactions on them, hence the profit of the exchange and holders of the internal token.

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How to get started on the platform

To register on the exchange you need to provide your email address and password. The project developers have prepared a guide that will help you create an account. Immediately after registration, you can start trading; the maximum amount when withdrawing money from your account is 2 bitcoins (or an equivalent amount in another currency) per day.

If you want to increase the limit amount, you need to carry out KYC verification by providing the necessary documents (for example, a passport). You can see how to do this in a special guide. After verification, the withdrawal threshold will be 200 bitcoins per 24 hours.

If you need to withdraw an amount of more than 200 bitcoins, users can contact the company's email

ABCC Affiliate Program

Due to the high competition for each client with a large number of crypto exchanges, it is stupid to miss even the least profitable method of attracting partners.

The ABCC cryptocurrency exchange's affiliate program is consistent with its innovative solutions.

Thus, partners are attracted in the standard way, through a referral link, but rewards are not accrued based on the volume made by the partner.

The reward formula has been worked out much better.

The partner generates trade turnover, from which he receives AT. The referred user also receives them.

For holding the token, both parties also receive a reward from part of the commission fee.

Thus, all participants in partnerships work with the platform with virtually no commission and with additional profit.

In addition, there are 2 partnership levels on ABCC.

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Exchange Features

ABCC Exchange provides or plans to provide its clients in the future with the following functions:

• Crypto trading. The platform offers a significant number of cryptocurrencies, which allows you to trade at a convenient time.
• Margin trading. When margin trading on ABCC, you can use leverage for a more efficient and flexible asset allocation.
• Trading contracts. Part of this exchange's service plan is futures, options, investment portfolios and other asset-backed securities.
• Over-the-counter (OTC) services. Interaction with trading partners, including influencers, companies, enterprises, hedge funds and other traditional financial institutions.

The user interface is intuitive and has an uncluttered design. The trading section has a detailed monitoring panel. There are schedules for different periods of time - 1, 2, 4, 6, 12 hours, as well as daily and weekly. Another interesting feature allows you to link your Telegram to receive real-time trading information about market trends.

Advantages and disadvantages

PROS:

• The presence of Russian translation of all main sections of the project;
• There are no geo-restrictions on working with the platform; residents of any corner of the planet can register, verify and work;
• Depositing funds into ABCC accounts is free of commission fees;
• Work is carried out only with cryptocurrency, which removes all the difficulties and restrictions regarding fiat funds;
• The platform is constantly being developed and updated. You can follow new achievements in the “News” section;
• Mobile applications with good user reviews;
• A non-standard approach to promoting the internal AT token;
• An innovative format for generating new crypto assets – trade-to-mine;
• Affiliate program based on your own decisions;
• High security and reliable reputation.

CONS:

• The need for verification. Although it is compliant with the requirements of the Australian authorities, it remains unclear to many crypto traders why decentralized currencies that guarantee the anonymity of all participants need to confirm the identity of the owner in order to fully circulate.

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Main characteristics