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ABCC Trading Competiting from 5th to 12th December 2018 with USDT 4,500 in Total Prizes

Exclusive Interview With The ABCC Crypto Exchange

ABCC, a cryptocurrency exchange with tens of millions of US dollars in daily volume and full refunds for all transaction fees paid via ABCC Token (AT), is launching a trading competition from 5-12 December 2018. USDT 4,500 of rewards will be given to the traders with the highest returns during the competition week. The trader with the highest return will get USDT 2,000, the trader with the second highest return will get USDT 1,000, the traders with the third to tenth will share USDT 1,000, and those ranked 11th to 20th will share USDT 500. This competition is an excellent opportunity for cryptocurrency traders to sharpen their trading skills and win money at the same time.

The return is calculated with the equation (holdings at end of competition – (holdings at beginning + deposits + AT awards)) / (holdings at beginning + deposits). Basically, this equation ensures the return is equivalent to the trader’s actual skill, by excluding AT transaction fee refunds. There are some rules as well. Users must have holdings of at least USDT 100 at the beginning of the competition, traders must be fully know your customer (KYC) verified and enable 2-FA via SMS, cheating will be monitored and will be grounds for disqualification, and users are not allowed to withdraw any money from ABCC during the competition or they will be disqualified.

In other ABCC news, ABCC Pro has added 160+ trading indicators to their chart analysis software. This includes the full spectrum of technical analysis parameters, such as Bollinger Bands, RSI, MACD, and volatility. This gives pro traders the information they need to make educated trades. If someone were to go through all 160 trading parameters on ABCC Pro and research each one thoroughly, and then test out each indicator, they would become an expert cryptocurrency trader.

Beyond this, ABCC Pro has added stop loss/limit functionality, which automatically executes a trade when the price of a cryptocurrency drops to a certain level, to prevent unacceptable losses, or automatically executes a trade when a cryptocurrency rises to a certain level, to lock-in profits.

Perhaps traders who fully utilize the 160+ trading indicators and stop loss/limit functionality will have the best chance at winning the trading competition.

 

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ABCC Launches Bitcoin Options Trading

ABCC, a cryptocurrency exchange with trading volume in excess of USD 10 million per day, will soon launch Bitcoin options trading. This new feature will allow traders to bet on whether the price of Bitcoin will rise or fall during a day. Currently, options trading on ABCC is in beta testing but should be made available to the public within about a week.

Call and put options are available, where call means that a trader is betting Bitcoin’s price will be higher at the end of a contract than at the beginning, and put means the trader is betting that Bitcoin’s price will be lower at the end of a contract than at the beginning. Contracts start and expire each day at 16:00 UTC, and there will be USDT and ABCC Token (AT) trading pairs for Bitcoin.

When a call option expires, and the bet is successful, the seller will deliver 1 USDT or 1 AT to the buyer for each contract. An example of how this would work is two traders, A and B, who each hold 100 AT and no contracts. If A and B agree on a contract price of 0.4 AT, then A pays 40 AT for 100 contracts, and B earns 40 AT for the 100 contracts. Essentially, the options markets on ABCC are powered by traders making peer-to-peer deals. The contract price determines the leverage.

If the call is successful, meaning Bitcoin’s price increases, then A will be paid 100 AT, leaving A with total profits of 60 AT. Since B has to pay out 100 AT, they will incur losses of 60 AT. A lower contract price means A earns more and B loses more, if the call is successful.

In the scenario where the buyer loses a bet, the seller of the contract keeps the profit from selling the contracts. The put option works about the same, the difference being it is successful if Bitcoin declines, the opposite of a call.

Major cryptocurrency derivatives exchanges like BitMEX have 100x leverage on short and long positions, but ABCC exceeds that since price of contracts is accurate to 0.0001 AT or USDT. At the minimum possible contract price, A would pay 0.01 AT for 100 contracts but would earn 100 AT if the bet is successful. This means the maximum leverage on ABCC is 10,000x, which equates to 1,000,000% profits. This creates exciting possibilities for traders who take risky bets and succeed.

Further, the exchange can offer this 10,000x leverage safely since options trading is peer to peer, and ABCC itself is not the one lending money or contracts for these trades. It merely takes a 0.5% fee. Additionally, contract sellers must lock the appropriate amount of AT or USDT in escrow, to ensure buyers will be paid.

Beyond this, ABCC will be releasing stop loss functionality on their regular cryptocurrency exchange by the end of November 2018, and will be revamping their website soon to provide a more optimal user experience.

 

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Exclusive Interview With The ABCC Crypto Exchange

BitcoinNews.com did an exclusive interview with the Head of Global Marketing and Communications for the ABCC crypto exchange. ABCC has USD 50-100 million of trading volume per day with 51 cryptos listed, and has been seeing month over month growth in trading volume since it launched in April 2018. ABCC offers crypto to crypto trading worldwide, and in the future aims to offer fiat to crypto trading, but for now has 3 stablecoins listed, which act as a fiat substitute.

The CEO of ABCC, Kevin Cheng, is a member of the Singapore Parliament, and other members of the ABCC team used to work for Binance, the #1 spot crypto exchange in the world. The Head of Global Marketing and Communications says “The reason why ABCC was established is the Co-Founders want to dive into the crypto ecosystem and build a really good platform that provides a great trading experience for the users. We see vast potential in the crypto market, and believe if we focus on providing good product and service, we will grow in the field.”

Originally, ABCC launched with zero trading fees but changed their strategy in July 2018 when they launched ABCC Token (AT). Now, ABCC utilizes transaction fee mining, where users are refunded their trading fees 100% with AT tokens. Another benefit of AT is 80% of the transaction fees collected from the crypto trading pairs are distributed to holders of AT tokens, which is around USD 5,000-100,000 per day. On average, 1,000 AT tokens produces a reward equivalent to USD 1.20 per day. Rewards for holding AT are disbursed with Bitcoin, Ethereum, or USDT.

Beyond these avenues of earning money by trading on ABCC, crypto projects often donate crypto to ABCC when they get listed, and ABCC airdrops most of this to users. The Head of Global Marketing and Communications for ABCC says “Basically our philosophy is we try to contribute instead of keeping it because 20% of the trading fee is already a large amount for us. We want to make sure the rest of it goes to users, and the users can benefit from trading with us.”

AT is an Ethereum ERC-20 token. There are 210 million AT tokens in circulation, 10X the supply of Bitcoin, and apparently, a relatively small amount compared to most other cryptos. The full supply of AT will be mined over 2 years, with a block halving every 120 days. The first block halving will be on 6 November 2018. There is 1 block every 4 hours, and the block reward is distributed to users of the platform proportional to their relative trading activity versus everyone else. Mining vouchers are available for purchase, and these vouchers increase mining power by 20%. Further, there is a referral program where users can boost their transaction fee mining rewards. Additionally, AT will be used for voting to list cryptos on ABCC.

ABCC is working on obtaining a bank account and a license from regulators for fiat trading. ABCC is based in Singapore but has another office in Malta, and there is potential for them to obtain a bank account in Malta and offer EUR trading in the future. The Head of Global Marketing and Communications for ABCC says “Regulatory compliance is what we think will differentiate ourselves from other exchanges in the future.”

ABCC launched ABCC Cloud in September 2018, where startup exchanges can integrate ABCC’s software and order book, making it easy for new exchanges to get the liquidity they need for optimal trading. This also increases the liquidity on ABCC itself. The Head of Global Marketing and Communications for ABCC says “We hope to reach out to a wider market and audience through our partners. We provide them with technology that saves them the hassles of building exchange technology so they can focus on other things.”

In the future ABCC will release a Pro version with trading views, stop losses, and stop limits to optimize the trading experience. Also, ABCC will be releasing a crypto wallet, and eventually will offer margin trading. Further, ABCC is considering launching options markets, where users can earn interest by holding crypto in their wallets. The Head of Global Marketing and Communications for ABCC says “We are trying to see how we can adequately introduce crypto to more people as well as teach them the concept of trading.”

Eventually, ABCC might try to launch a decentralized exchange, but needs to research that concept thoroughly before doing it, and wants to focus on optimizing their current trading software first. Also, ABCC will launch an API for scripting trades once trading is optimized.

On a final note, the Global Head of Marketing and Communications for ABCC says “Our Co-Founders are serial entrepreneurs, so even if trends are changing in the field we are very confident in our execution skills. That makes us different from others.”

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