ABCC.com Crypto-exchanging Service Review

What is ABCC?

This exchange operates without a full-fledged license, placing it among temporarily exempt entities. The gray legal area in which it operates raises concerns about the safety of clients’ crypto assets, just like the SwiftTrading.live with its suspicious operations. Despite this, the firm is highly regarded as one of Singapore’s premier cryptocurrency service providers. Our review of ABCC will present all the pros and cons of transacting with this exchange and offer guidance on actions to take if you suspect any illicit behavior.

Legal Ambguility With ABCC Exchange

ABCC, operated by Alphabit Consulting Pte Ltd, does not hold a cryptocurrency exchange license in Singapore. However, it operates under a special exemption from the Monetary Authority of Singapore (MAS) license, as permitted by the Singaporean PS Act. Despite this exemption, a regulation introduced in January 2022 restricts the company from serving the Singaporean domestic market.

ABCC has a history of altering its legal identity, including changes in its name, address, and business nature, all of which are traceable through the UEN register. The exchange operates in a unique legal circumstance, functioning without a direct license yet allowed to operate with minimal restrictions.

From the perspective of a thorough and candid ABCC review, the financial security of our readers is paramount. Given that ABCC is not fully regulated, we advise caution. Additionally, the lack of visibility of the exchange’s volume data on CoinMarketCap further raises concerns about its credibility and safety.

ABCC Widespread Online Presence

Today’s leading cryptocurrency services, including this one, heavily invest in online marketing. They maintain a strong presence on social media platforms, with active accounts on Facebook, Instagram, X, and Weibo. Their professional profiles can also be found on LinkedIn.

The company effectively uses Reddit as a platform for announcements and discussions. They also engage their audience through YouTube and Spotify by hosting a range of podcasts and webinars. Additionally, Telegram serves as one of their key communication channels. This extensive online engagement plays a crucial role in attracting and retaining a steady stream of new clients.

Exploring the User Base of ABCC Exchange

The domain abcc.com, established since 1996, only transformed into the cryptocurrency exchange we recognize in 2020. Verification of this can be done through WhoIs, but our investigation delved deeper into the source of its web traffic. We found that the primary users hail from such countries

• Brazil
• United States
• Australia
• Japan
• Spain

It’s important to note that the longevity of a website doesn’t necessarily equate to its reliability. There are instances, such as with JP Crypto, where companies acquire older domains to appear more established.

While we refrain from making direct accusations, it’s apparent that ABCC operates with questionable legal support. For any concerns or suspicions regarding misconduct, our team of experts is available for consultation.

ABCC’s Trading Tools

The ABCC platform is straightforward and operates entirely online, eliminating the need for any separate downloads. However, it lacks sophisticated analysis tools, falling short of the standards set by other currently available options. To compensate, ABCC provides an API for users requiring more advanced features.

Market data on the platform is sourced from TradingView. Despite this, there have been noticeable issues with the candlestick charts, suggesting potential discrepancies.

Such glitches could be indicative of data manipulation, a tactic used by unscrupulous firms to disadvantage their clients financially. While there’s no definitive evidence that ABCC engages in such practices, it’s advisable to remain vigilant.

ABCC Account Features and VIP Levels

Creating an account on ABCC allows immediate access to its trading platform. However, it’s important to note that this is not a trial account; it doesn’t provide any virtual currency for practice trading.

ABCC offers a VIP tier system for high-volume traders. The tiers start from VIP1, which requires a minimum trading volume of $10,000 over 30 days, and go up to VIP6, which demands a trading volume exceeding $50,000,000. Despite the high thresholds for these tiers, VIP6 members benefit from a substantial 85% reduction in trading fees.

What Fees To Expect

Fees on the ABCC platform differ based on the trading method chosen by clients. For those trading directly through the ABCC platform, a fee of 0.1% of the transaction volume is charged as Maker and Taker fees for each side of the transaction. In contrast, API users benefit from lower fees, with only 0.05% of the transaction volume per side being charged. The exchange rates for different assets range from 0.02% to 0.3%.

ABCC exclusively uses USDT as the base currency, and thus, all account deposits must be made in cryptocurrencies. Importantly, these deposits do not attract any fees.

On the other hand, withdrawal fees are applicable but are not explicitly listed on the website. These fees vary based on the nature of the account, whether personal or corporate, and full details are provided only after the completion of the Know Your Customer (KYC) operation.

Ambigious Withdrawal Terms of ABCC

Withdrawals to ABCC can be initiated from the client dashboard and are available in both cryptocurrency and FIAT assets. However, information on other withdrawal conditions, such as minimum trading volume or specific withdrawal fee structure, is not available as it is only available after KYC verification.

This situation emphasizes the advantages of choosing a fully regulated exchange over an ABCC. Licensed and regulated organizations are legally obliged to offer transparent and clearly defined withdrawal terms, but ABCC currently lacks this practice.

Are You Becoming a Scam Victim? Get Our Help!

Despite its high reputation and history of no serious breaches or data leaks, this exchange operates without a license. A noticeable disadvantage of working with them is the unclear withdrawal policy, which immediately raises doubts among users.

If you have any problems with payments, our legal experts are at your service around the clock. Use our chat to schedule a free consultation at a time convenient for you.