Getting Started with Abucoins.com Exchange
Abucoins.com is an exchange for trading cryptocurrency through the medium of fiat-crypto or cryptocurrency-cryptocurrency trading. With offices in both London and Dubai, it was founded on the principles of putting the customer’s needs first. The exchange has a user-friendly, two-level interface, (basic and advanced) both of which are easy to navigate
The first impression a visitor gets about the Abucoins exchange review when you visit the website is how well-structured the home page is laid out. All the initial information a person might need to get started on the crypto-exchange is plainly visible on the first page. Unlike other similar trading platforms, the exchange provides an innovative interface with various tools for technical analysis, and it also features various pricing charts. Other important trading elements on the platform is that it includes a trading history window, market depth, and an order book.
The trading platform conveniently presents the information you will need about registering and logging in a simple way. The initial details about the type of trading you can take part in on the exchange are immediately and clearly visible.
Abucoins Account Registration
With a user-friendly interface, the Abucoins Exchange Platform is easy to navigate. On the right upper corner on the website, there is a slider button that will enable you to switch from the basic to the advanced interface.
The registration process is not complicated. Once you are on the site, you will see the REGISTER/LOGIN button on the upper right corner of the homepage. Here are the steps to follow to register.
Click on the button marked “Register”
This will take you to the creating account page.
You will then see a field for your personal details i.e. Your valid email address and a unique password with the following:
You will then repeat your password
And then you click on the Terms/Privacy checkbox
The final step in the registration process is to click the “I am not a robot” button
After completing the registration process and you are logged in, you will be required to verify your account.
A word of caution, however, is that if you are not able to get your Abucoins account verified, that would mean a country/state restriction e.g. residents of New York and Washington state in the US. Also, most Asian and African countries are under the same restriction. You can contact support by clicking on the chat button on the lower right corner to find out whether your specific location is restricted or not.
You can still avoid the restriction by using a VPN (Virtual Private Network). This will hide the source of your IP Address, and enable you to proceed with the verification process. Here is how the VERIFICATION page looks like.
Abucoins.com Trading Platform
The Abucoins exchange trading platform accommodates various languages and a number of well-known cryptocurrencies. One of the altcoins available for trade now is XMR/BTC. But in the future, the exchange will host more than 30 trading pairs, and quite a number of fiat currencies like the USD, the EUR, and the PLN. This makes it easy for traders on the Abucoins API exchange to cash out their coins or use cash to buy cryptocurrencies.
Traders on the platform enjoy convenient payment methods because a number of fiat currencies are supported. In other words, you can easily use credit card payments or bank transfers to carry out your transactions on the exchange. Apart from Dotpay bank wire payments such as Mastercard and Visa are support on Abucoins exchange.
The trading platform is scalable, and you can use quite a number of other devices like tablets, smartphones to access your account. The use of Abucoins exchange is not limited to computers/PCs only.
In the midsection of your account’s page, you will see the option requiring you to verify your account. Before taking part in any transactions after registering your account, you MUST have it verified.
The Abucoins exchange has a two-tier verification process. First, you will need to create your account on the exchange. Secondly, having created the account, you will be required to establish or set up a 2-factor authentication.
- You will need to verify your bank account
- You will also verify your identity
The steps include: Your name, your email, your city, road, house NO:, state, your postal code, phone number, country, date of birth, document – ID/PASSPORT, the expiry date of your document, your selfie plus the images for your identity – both front and back,
Once you provide all the above details, you will wait for your verification. Some exchanges can take several days, weeks or even months to complete the process, but in Abucoins exchange, it takes just a day or two to get your account verified.
After having your account verified, you can now take part in real trading by having your withdrawal limit increased. However, to take part in any trade, you will need to deal in real money. Payments are made in real cash. The currencies used on the exchange are as follows:
Abucoins.com Monero XMR Trading Platform
- To trade Monero, go to the User Panel (Indicated below with the right-pointing arrow. You will see the price, amount, and the completed, order, date and delete order.
- Next, you will see the transaction history. Here the session expires, but you can click the ok button to proceed.
- Everything you do about your order has a corresponding price, amount, and date.
- There is also a daily withdrawal limit which you can do by withdrawing Monero or exchanging your Monero to withdraw Bitcoin
- And of course, there is the Maker fee which is 0.0%. Maker fee is charged, when your order is not completed immediately when it is in pending status and you are waiting for someone to buy it. If you set the price you need to wait for someone to sell it at the price that you have provided.
- And the Taker fee which is 0.1% will be charged when the transaction proceeds immediately because it is the same as or above the price you have provided.
- The user interface has options for both basic/advanced trading
- The exchange supports several fiat currencies such as the USD, EUR
- Accepts a number of payment options including wire transfers.
- The platform has advanced features
- It offers a wide selection of altcoins
- Like all platforms trading cryptocurrency, Abucoins exchange is not regulated.
- There is no cold storage for funds, so storage of client’s funds is not assured.
- Some trading pairs do not have enough volumes yet
- Offers only limited language versions, Polish and English
- Provides no margin trading