The world’s first zero-trading-fee cryptocurrency exchange is aiming to provide a platform for its users that’s open, frictionless, and participatory.
Amid the rising interest with cryptocurrencies and the blockchain, delivering a service to a fast-growing cryptocurrency trading community may seem easier said than done. Yet, for Singapore-based ABCC (AlphaBit CryptoCurrency) exchange it is pitching itself apart from others with the intention of delivering a service that users want.[1]
Launched last month, ABCC is the brainchild of Calvin Cheng, a Singaporean entrepreneur and a former parliamentarian. Now, turning his attention to the cryptocurrency market, Cheng, and the 20 core members of the team, is hoping to promote the benefits of the industry that will attract more people to it. This is one of the reasons why ABCC was launched. Not only that, but as the blockchain and cryptocurrency assets are projected to play an important role in the future of advanced economies, the launch of a zero-fee-trading exchange will be an asset to newbie and veteran users who will have a frictionless experience when trading digital currencies.
“One of the big reasons for this is that we want to promote the mass adoption of crypto trading, which would be extremely beneficial to the financial industry in the world,” Cheng said. “Because the mass adoption of cryptocurrency will give access of investment to a broader base of the companies.”
Typically, with other cryptocurrency exchanges a fee is involved regardless of whether a person makes or takes a trade. These can vary between 0.1 percent and 0.5 percent. In order to succeed in this space, particularly as a cryptocurrency exchange, it needs to have a unique selling point to make itself appealing to potential users. One such point with ABCC is the fact that it provides free trading to its
