Tired of watching exchange fees slowly eat away at your funds while you make trades? If so, maybe it’s time to join the revolution.
Where’s Your Money Going?
Nobody likes paying fees. You don’t like it. We don’t like it. Even superstar NFL cornerback Richard Sherman doesn’t like it. The four-time Pro Bowler once explained:
Every time you make a trade, there’s fee. Skimming off the top. A lot of people don’t realize until you make 10 transactions in a day. You’re like ‘Why am I $200, $300, $400 less? They charge you out the yin-yang, and it limits what you thought you’d be able to do. You don’t want to do that many transactions because you’ll get hit over the head.
He’s got a point.
You may not realize it, but the San Francisco-based cryptocurrency marketplace Coinbase charges US customers 1.49 percent for both payments from and payouts to their on-site USD wallet. Likewise, all trades on popular exchange Bittrex have a 0.25% commission, while Binance records a 0.1% trading fee. While that may not seem like a lot at a glance, those fees can really start to add up — eating away at your hard-earned funds.
Fortunately, there’s one new exchange already changing the game.
No Fees, Maximum Security
ABCC is a cryptocurrency exchange founded by media magnate and former member of Singaporean parliament Calvin Cheng. It fully embraces the core tenants and philosophy of blockchain — meaning it is open, transparent, seamless, and participatory.
The exchange is firmly focused on facilitating investment by helping individuals identify valuable blockchain assets while offering them a secure online platform on which to trade them. Additionally, it aims to provide professional trading services.
Perhaps most important, however, is the fact that ABCC is entirely free to use!
According to the company, the decision to accept a fee-less transaction model stems from its desire to provide a seamless platform which does not hamper economic activities. In its opinion, fees serve to partially obstruct peer-to-peer financial transactions and thus have not been adopted by ABCC.
As such, ABCC offers commission-free trading on any and all amount of tokens, while claiming to be the first zero-trading-fee exchange in the world. Additionally, it has a lower withdrawal fee (0.0008 BTC) than many mainstream exchanges.
Unlike other exchanges like Binance and Kucoin, ABCC has not and will not issue its own token.
ABCC also boasts a robust security system, which features a microservice framework of more than 30 distributed trading and asset systems. This framework is capable of conducting small-scale dynamic expansion, while also supporting trading on the largest scale. Additionally, the trading system is kept entirely separate from the asset system, while subject to source audits and risk controls to ensure the safety of all assets.
Super Friday Jackpot
Interested in zero-fee trading on ABCC? Head on over to the exchange’s official website to get started.
Additionally, the exchange is currently running a weekly promotion in which cryptocurrency-savvy investors may put their speculative knowledge to the test. Participants may guess the price of ETH at 2 pm on Friday, and whoever guesses the closest will win 0.01BTC. To learn more and make your guess, follow the simple instructions here.
What do you think of trading fees? Do you prefer zero-fee trading? Let us know in the comments below!
Images courtesy of Shutterstock, Wikimedia Commons
