If you're doing research about BTC and altcoin trading platforms, you may have come across Allcoin. It is in fact the first listed digital asset or crypto currency exchange platform, operating since 2014.
Allcoin Background
Allcoin.com is an exchange or trading platform ranked 40 globally when it comes to trading volume 24 hours a day. Trading usually involves BTC or Bitcoin, Ether and Allcoin' own equity coin, Qtum, against the USD.
With its headquarters in Vancouver, Canada, the trading platform was first listed in 2013 on the Canadian Securities Exchange and every year afterwards under the stock code CK. The beta version of the Allcoin Exchange was launched online back in February 2016.
Allcoin is popular with pairs BTC/USD, Qtum/BTC, GAME/BTC (or game credits to BTC) and DWC/BTC.
Qtum, in case you're not familiar with it, is a separate company and works like an equity token. The partnership with Qtum allowed Allcoin to start offering and accepting Qtum Equity Tokens in June 2017.
Trading All Coins
Using a tier system for customer account verification, Allcoin has various restrictions for the lower tiers and plenty of advantages for the higher tier clients.
Clients are required to register using their mobile number for the first tier. In this level, clients are not allowed to deposit and withdraw in USD. The highest tier on the other hand allows up to $100,000 deposits and withdrawals per day.
Clients can choose from a USD account or a CNY-based account. One user can have only one account with their chosen currency.
Allcoin intends to become a cryptocurrency market where traders can buy and sell all kinds of digital coins. This is why Qtum and other not so popular cryptocurrencies can be traded in the site.
The trading platform is straightforward and in principle, it works like other cryptocurrency exchanges. The difference is in buying and selling in trading pairs. This is not a typical feature in other markets.
With the Allcoin and Qtum partnership, the site can now issue Qtum Equity Tokens. Other popular trading pairs are BTC/USD and GAME/BTC.
80% of the trading volume is the BTC/USD pair. GAME or game credits on the other hand is crypto payment for the gaming industry. GAME is an easy solution for mobile game developers to pay their gamers fast, with no charge-backs or fraudulent cancellations.
Why Allcoin
Being listed in the Canadian Securities Exchange is a huge advantage for Allcoin. This makes them the first ever crypto exchange that is publicly listed and a registered money service company in Canada.
Compared to other trading platforms, Allcoin has lower trading fees. The additional tools such as the charts and indicators in the pro section of the platform are useful especially for relatively new crypto traders.
A downside so to speak is that the funding and withdrawal method is limited to Visa and MasterCard debit/credit cards and bank transfers. So far, Allcoin has yet to offer and accept e-wallets and other online payment methods.
Allcoin accepts clients and provides its services in most countries. There are only a few exceptions, but it includes the US. With the cryptocurrency situation unclear in the US and the fact that they have rather strict financial regulations, many platforms exclude the country's traders in the process.
Canada on the other hand, may not have specific regulation for the cryptocurrencies, but the CSA or Canadian Securities Administration declared that the digital currency is subject to local securities laws.
Allcoin trading volume and popularity of course, cannot be overlooked. At the top 30 - 40 standing worldwide, the platform isn't a slouch when it comes to 24 trading volume.
As explained earlier, the trading pairs is unique to Allcoin with the BTC/USD most popular. Buying and selling newly launched and not so popular altcoins is also one of the platform's advantages.
If you decide to trade on Allcoin exchange, please register using our referral link: https://www.allcoin.com/Account/RegisterByPhoneNumber/?InviteCode=MTQ2OTk4MDgwMDEzMDEwOA==
