One thing that traders hate is trading fees, and they truly have a right to be mad about it. Fees can eat up a good portion of a trader’s profit, especially for day traders who make many transactions a day. The usual transaction fee varies from platform to platform. For example, Bittrex has a 0.25% trading fee while Binance has a 0.1% trading fee. These percentages may not seem like a lot but can eat away a significant portion of your earnings as a crypto trader.
The issue of high fees is for everyone. ABCC is offering an exchange platform that will resolve this issue. Founded by the media magnate and the former member of Singaporean parliament Calvin Cheng, the platform fully utilizes the core tenets of blockchain. Therefore, it is transparent, secure, and participatory.
ABCC follows a new model that allows the traders to get back up to 80% of their trading fees. The decision to follow such a model stems from the platform’s desire to provide a transparent trading platform. The platform will not hamper economic activities and provides an open, supportive system that the users can depend upon. ABCC believes that excessive trading fees hampers and resists peer-to-peer transactions and that is why, they have decided not to adopt such a system.
ABCC also has one of the lowest withdrawal fees in the market, just 0.0008 BTC. The platform uses a robust security system to ensure the security of an investor’s money. The security system is comprised of a microservice framework of more than 30 distributed trading and asset systems. The trading system is kept entirely separate from the asset system, and audit and risk control measures are taken to ensure the safety of investments.
The ABCC exchange boasts a very simple and intuitive UI that puts everything in front of the users. All the required information that a trader might need is available on the main screen, along with charts, famous pairs, and other useful information.
After logging in, you will see the dashboard shown in the image below.
The ABCC exchange is very easy to use, and there are no hidden fees. You may be wondering how the exchange generates profit then. The platform’s revenue will be generated from the 20% remaining trading fees, API users, and other value-added services within the system. You can easily signup on the platform. However, without completing the KYC verification, your account will have a withdrawal limit of 2BTC in 24 hrs.
The exchange currently supports more than 20 cryptocurrency trading pairs against BTC, ETH, and USDT. You can view hourly, daily or weekly charts to get a better understanding of the platform.
BTC Trading Pairs
To make your account secure and safe from unauthorized access, you should always make sure that you choose a secure password. Moreover, every time you access the exchange, make sure that the link is abcc.com, there have been cases where users are baited into phishing scams. Turning on two-factor authentication is also a good move.
ABCC Token (AT)
The latest development is the launch of the AT token, which is based on the Ethereum blockchain (ERC-20 compliant). The token will mainly benefit users – ABCC will reward them for loyalty. A fixed supply of 210 million tokens, without any future offerings, will be generated, whereas the release is scheduled for July 9, 2018. All users can mine AT from 12pm July 12, 2018 (UTC+8).
Members that hold the AT tokens will have access to a wide range of benefits, including:
- Using AT tokens for various services and products on the platform. Members can purchase digital assets, pay trading fees, and gain access to premium services.
- Using AT tokens, members can participate in various activities and campaigns on ABCC, and the platform will reward members that meet certain criteria.
- Members can use AT tokens to participate in community development, propose suggestions to the ABCC team, and other uses.
The following are some of the latest features of the ABCC platform, let’s discuss them one by one:
Trade to Mine (ToM)
ABCC is drawing inspiration from the Bitcoin mining model, and the distribution of tokens will be carried out via a Trade to Mine mechanism. This is a “Trade Contribution + Simultaneous Release” mechanism that will be used to issue the AT tokens. What will happen is that within the timeframe of every block, users of the exchange will receive AT tokens proportionate to the trading fees that they contribute to the total trading fees collected by the ABCC platform, during the duration of that block.
AT Release and Trading
The AT mining rules will follow a half-life decay pattern, where there will be 6 time periods of 120-days half-life in total. During each half-life period, a new block will be created after every six hours, and a similar amount of AT tokens will be generated for every block within the same half-life period. Approximately, one block will release 87,500 AT tokens after every six hours in the first 120 days after the mining starts. The AT tokens will begin trading on the platform two or three weeks after the mining starts. The delay is necessary to avoid manipulation and to stabilize the price.
ABCC still has a long way to go, but the planned update to be launched on July 2018 may provide the platform with the boost it needs. In order to ensure growth, the platform is also hiring 2,000 genesis miners, who will be given individual rights to mine AT tokens when the mining starts. As always, the key factor for the exchange to succeed among the big giants is the amount of liquidity it offers and its UI/UX.
To learn more about the exchange, you can access the following links:
Website | Whitepaper | Telegram