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P2PB2B Exchange Review. The Next Generation of Crypto Exchanges or a Scam?

  • Vera Thornpike
    Exchanges Guide

    All you need to know about the P2PB2B - Estonian crypto exchange platform


P2PB2B Exchange Review. The Next Generation of Crypto Exchanges or a Scam?
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Contents

P2PB2B is an Estonian cryptocurrency exchange that can be used by individual customers only, but has a few benefits for ICOs, too. It features an open API for startups and provides the opportunity to get a free listing within 5 minutes. The multi cryptocurrency exchange platform has managed to attract a worldwide audience and reach an enormous daily turnover. How it can be useful for the average user and token creators, and is the game worth the candle?

About P2PB2B

Established in 2014, the Estonia-based P2PB2B exchange platform has quickly become popular around the world. It enables users to sell and buy cryptocurrency online. Its main currencies are BTC, ETH, and USD. What makes it appealing is the absence of trading fees and the fact that it has got a free listing of any business application’s API.

Today, P2PB2B supports 42 trading pairs with the following most popular combinations: BTC/USD, BCH/ETH, BCH/USD, DASH/BTC, BCH/BTC, LTC/BTC, DASH/USD, ETC/BTC, DASH/ETH, LTC/USD.


P2PB2B website interface
P2PB2B crypto exchange interface

At the moment of writing this article, the exchange platform had a daily turnover of $31.38 mln and was the 47th exchange platform in the world by the volume of trading per 24 hours. In the last week, the overall trading turnover was $80.76 mln or 12,609.76 BTC, the monthly turnover — $148.77 mln or 23,228.17 BTC.

Generally, P2PB2B reviews are positive: users are satisfied with the speed of processing and fee policy. But can P2PB2B be called an ideal place for traders?

Exchange Features

When it comes to P2PB2B, it seems to be a bare-bones solution: the platform cannot boast out-of-the-box functions, but it does what’s said on the label. P2PB2B is a reliable, quick and convenient cryptocurrency exchange platform — isn’t this the primary requirement from traders?

To make the trading process more efficient, the exchange provides:

  • current cryptocurrency rates;

  • infographics;

  • news;

  • transaction history;

  • cryptocurrency descriptions.

When you need a simple and reliable cryptocurrency exchange platform, this is just the ticket.

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Main Advantages

Limit your appetites: P2PB2B won’t spoil you rotten with such features as signals, detailed personalized statistics, or crypto funds (analog of bank deposits). However, you can reap benefits from:

  1. Exceptional processing speed: servers process up to 10,000 trades every second and support up to 1,000,000 TCP connections.

  2. Decent safety. Over 95% of users’ assets are stored on cold wallets. Hacking is detected and blocked by an advanced Firewall.

  3. A well-developed affiliate program allows adding to your profit. The referral program is topped off by the referral game: every season, the most active traders can win a generous amount of altcoins.

  4. 24/7 customer support is available for all users. Assistants speak English, Chinese (Mandarin), Japanese, Russian, Indonesian, Spanish, and German.

  5. Recently, ATB coin was added, which delighted many traders.

It should be noted that P2PB2B’s single-page website is simplicity itself: it features everything you need and nothing you don’t. Navigation is a no-brainer, and newcomers will easily figure out what is what.

Bonuses

As previously  mentioned, P2PB2B organizes contests: the most active users can gain points and win free tokens. The P2PB2B team went further and introduced ‘the Battle of Bitcoin forks’ for token creators.

What is it made for? Since the launch of Bitcoin, many developers tried to improve it and fix issues. In April 2018, there were 69 Bitcoin forks in total, but only 10 of them were present on exchanges. P2PB2B decided to help the best forks make their way to the market. The crypto community will decide which project is the best – winners get listed on P2PB2B.

Traders with at least 0.003 BTC / 0.05 ETH / 25 USD on their account are allowed to vote. How is it organized?

  1. The first stage lasts one week, and only 8 coins pass to the next round. Coins that make it to the play-off receive listing on the platform for one month.

  2. Eight coins are divided into pairs and participate in matches. Each match lasts 24 hours. Only 2 finalists pass to the final.

  3. The final stage lasts for 5 days. The winner is chosen by voting and gets a free listing on the exchange.

Following this process, the companies behind Bitcoin forks will be able to promote their token.

Referral Program

P2PB2B offers a great referral program that’s topped off by Referral Games. Users who recommend this platform to their friends are paid a certain percent from their transactions. It is calculated in the currency of the trading commission and paid once a month.

In November-December 2018, the platform will organize the next season of Referral Games (every user is free to participate). To become a participant, you should register on https://p2pb2b.io, get the Referral Link, and invite friends through it. The more friends join the platform, the more coins you get. There’s one condition: a player should perform at least one transaction once a day, be that an order, deposit or withdrawal. Each transaction brings one point.

The actions of referred friends matter, as well. Thus, when a friend deposits money on his account or goes through KYC procedure, you get 5 or 10 points correspondingly. As soon as the number of referred friends reaches 10, a trader can get a 50% commission rate until the end of the game.

5 traders with the highest amount of points will win. The 1 mln token winners’ pot will be divided in the following way:

  • 1 place – 250,000 tokens.

  • 2 place – 125,000 tokens.

  • 3place – 50,000 tokens.

  • 4 place– 40,000 tokens.

  • 5 place – 35,000 tokens.

Every season, the type of coin for reward is changed. This time, the E-Dinar coin is playing in the season.

How P2PB2B referral games are organized
P2PB2B referral games explained shortly

Exchange Trade Volume

P2PB2B is in the Top-50 world exchange platform ranking due to the fact that its daily exchange volume is $31.38 mln (4,899.74 BTC). In a week, the exchange trade rate rises to $80.76 mln (12,609.76 BT); in a month, to $148.77 mln or 23,228.17 BTC.

Daily turnover on P2PB2B
The daily turnover on P2PB2B: 14 USD pairs

How to Use P2PB2B

The platform is very easy in use. First, you need to register — this process takes a couple of minutes and requires minimal personal information. Then you should make a deposit and start trading. Exchange transactions are performed in the form of orders. You can be a maker and place your sell/buy order, or be a taker and accept someone’s order — this transaction will be instant.

Purchasing Cryptocurrency

In order to purchase cryptocurrency, you need to make a USD deposit on your account. This can be done by a wire transfer, or with a debit/credit card. Go to the personal Account → Deposit. Choose a payment method and confirm the transaction. As a rule, money is deposited instantly.

As soon as you have money transferred on your account, you should go to the Trade section and place or select the existing Buy order. As soon as it’s accepted by someone, you’ll have the coins transferred on your account.

Click “+” to buy cryptocurrency
To buy crypto, choose the cryptocurrency and click “+”

On P2PB2B, users can buy vouchers (alphanumeric redeemable code) that can serve to transfer coins between Accounts. To buy a voucher, go to the Codes section on the upper left corner of the interface. Select the desired cryptocurrency from the list and specify the amount of the voucher. Then click the Create button. After that, the code should appear in My Code section.

Trading Pairs

At the moment, P2PB2B offers 42 trading pairs. The most popular are LTC/BTC. BTC/USD, BCH/ETH, BCH/USD, DASH/BTC, DASH/ETH, ETC/BTC. It cannot be called an extensive choice, but the most demanded coins are covered.  

Trade Fees

Good news: P2PB2B does not charge any trading fees. Exchanging cryptocurrency is totally free. However, deposit and withdrawal are charged. The platform accepts deposits in USD only: the fee is 4% (min 10 USD, max 100 USD). 0.2% fee is charged in addition to the purchased deposit.

As for withdrawal fees, they depend on the type of cryptocurrency you use:

-0.0012 BTC;

-0.01 ETH;

-USD: 4% (min 10 USD, max 100 USD);

-0 ATB + 0.1% (min 10 ATB, max 1000 ATB);

-0.03 BCC;

-10 BNB;

-0.1% (min 0.1 BTG, max 10 BTG);

-15000 CHE;

-20 CRBT;

-200 DOGE;

-20 ECHT;

-0.01 ETC;

-0.01 LTC;

-200 QUiNT;

-20 TUSD.

The platform may also charge a Storage fee for storing cryptocurrency until assets are reclaimed. The exact amount of fee can be checked in the Fee Schedule page. This commission is charged on a daily basis.

Transaction Limits & Liquidity

P2PB2B has the following limits.

Minimum withdrawal: BTC - 0.002 BTC, ETH - 0.02 ETH, USD - USD15

As for maximum withdrawal limits, it depends on the type of account.

  1. New accounts (without KYC): Newly created accounts have a $0 (or equivalent) withdrawal limit.

  2. Basic accounts: Basic accounts can currently withdraw $500 (or equivalent) per 24 hours.

  3. Enhanced Accounts: $100,000 (or equivalent) per day. Two-factor verification is required.

Setting up a Trade Account

Since P2PB2B is a simple, intuitive platform, setting up an account is as easy as 1-2-3. Here’s what you need to do.

Creating an Account

Creating an account on P2PB2B is quite easy. Open the https://p2pb2b.io/register page. In the window you’ll need to specify:

  • your e-mail address;

  • password and password confirmation;

  • captcha.

Now confirm that you agree with conditions and click Sign up. An activation email will be sent to you. If you don’t see the letter, check the Spam folder. Click the link inside the email and you’re ready.

Registration on P2PB2B
Step-by-step explanation of registration on P2PB2B

If you have forgotten your password, you’ll need to go through the procedure of recovery, which might be quite complicated. In fact, users are allowed to generate a PIN-code for password recovery, but if you forget that too, you’ll have no choice but to contact customer support. Write [email protected] from your email address, explain the problem, specify your latest actions and deposits on the account, and provide screenshots, if possible.

Security

Like its analogs, P2PB2B provides the whole gamut of security measures for its customers. First, users’ payment and personal information is encrypted; the website features an SSL certificate. Secondly, 98% of users’ assets are protected by cold storage. Thirdly, the platform leverages WAF that detects and prevents hacking. There were no reports of hacking or any fraudulent activity on P2PB2B: this website has an unsullied reputation.

To top it off, the platform has two-factor authentication technology, which eliminates the risk of stealing funds from users’ accounts. They can activate 2-step authentication and use SMS codes to verify their personality. If you lose the code or key to two-factor authentication, you’ll need to provide KYC data, your account login, and the information about the latest currency deposits and withdrawals.

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Please note that P2PB2B practices KYC (Know Your Customer): that means your personal information will be required to perform transactions and withdrawals. You CANNOT withdraw money until the KYC procedure is finished. When your identity is verified, you will be able to make a withdrawal request within 24 hours.

Like some other exchange platforms, P2PB2B can suspend or terminate a user’s account if it’s suspected to be used for illegal purposes. For example, users’ accounts can be blocked for performing transactions connected with:

  • drugs and other narcotic substances;

  • weapons and explosives of any type;

  • pyramids, Ponzi and other schemes;

  • goods under trade embargo;

  • body parts or human remains;

  • protected animals or protected plants;

  • other purchases in the darknet.

Therefore, all transactions are tracked. Some clients can find this moment unacceptable.  

Adding Payment Methods

Payment method management is performed in the user’s personal account. As soon as you open it, you should proceed to Payments. There, you should click Add new and specify your bank credentials, or debit/credit card information.

If you want to join with a bank account, note that P2PB2B supports only the advcash wallet. You will need to register at https://wallet.advcash.com/register and get a wallet.

Register your plastic card on advcash wallet to make payments on 2PB2B
To add a plastic card to payment methods, you’ll need to use advcash wallet

Depositing/Sending Cryptocurrency

For making a deposit, click Balance → Deposit. Click “+” next to the coin you want to buy. You will be able to place an order, or be a taker and accept one of the orders from the list.

Alternatively, you can go to the main page. Open the Trade section and select the desired cryptocurrency by double-clicking on it in the list of coins:

Choose the cryptocurrency from the list
The list of available cryptocurrencies on 2PB2B

You’ll see the forms of selling and buying cryptocurrency. Whenever the typed sum exceeds the limits of your budget, you’ll see the notification in red letters:

You’ll be notified when the fund limit is exceeded
The transaction shouldn’t exceed your budget limits

As soon as you place your order, you’ll be able to track it in “My Orders” section.

Please note that rates are not fixed: P2PB2B users are free to set up their own rates. Besides, the administration does not handle the orders — P2PB2B doesn’t approve/control the placed orders. They appear in the list of orders automatically, so you will have to wait until someone accepts your order. If that doesn’t happen while other orders are being processed, don’t despair. You can cancel the current open Order and submit a new one with a more agreeable price. Keep in mind that you can only cancel orders that haven’t been accepted yet. As soon as your Order is accepted, the transaction becomes irreversible.

Another pitfall is ‘partial acceptance of Order’. Your Order can be divided into separate payments. For example, you can issue 200 coins and get 40 coins first, and the rest a bit later. This issue cannot be called convenient, but it adds to your chances of having the Order accepted.

Customer Support

Many users praise the platform for responsive and helpful customer support. It is available on 24/7 basis without holidays and breaks. Customers can contact the assistants via email and receive the answer to their question within a few minutes. P2PB2B team does its best to help customers solve their problems and keeps improving the service.

At the moment, P2PB2B customer support is offered in seven languages: English, Chinese (Mandarin), Japanese, Russian, Indonesian, Spanish, and German.

Conclusion

After 4 years of work, P2PB2B has made a proper reboot and attracted even more customers from all over the world. This is a simple platform for profitable trading that is devoid of extra features. Decent customer support, the absence of transaction fees, and ultimate convenience make this project ideal for beginners. As for professionals, they may lack some functions, such as in-depth analytics, trading signals, and forecasts.

Another thing the platform lacks is a mobile trading app. P2PB2B is not up to scratch for traders wishing to work on the go. However, when the team manages to address these shortfalls, things may take off.

Please do not mistake the p2p Android application for P2PB2B — there are no official Android or iOS compatible versions!

This is NOT an official P2PB2B app
P2PB2B does NOT have an Android app — this software is not related to the platform

In order to make a final decision, compare the advantages and disadvantages of P2PB2B:

Pros

Cons

Low fees. 0% fee for BTC and ETH deposit. 0.2% fee for trading coins.

Fixed withdrawal fees, which is expensive for minor withdrawals. The fee is defined by the type of coin processed.

Top-notch customer support on 24/7 basis. Users can contact the assistants via email. Seven languages are supported (English, Chinese (Mandarin), Japanese, Russian, Indonesian, Spanish, and German).

KYC procedure and tracking of user’s transactions. P2PB2B does NOT allow for anonymous transactions and can freeze your account for actions rendered illegal.

Exceptional security. SSL encryption and strong WAF guarantee protection against hacking. Over 95% of users’ cryptocurrency is stored on cold wallets, which prevents hacking, data breaches and malware.

A relatively small amount of trading pairs. While competitors offer hundreds or 1000+ coins for transaction, P2PB2B has only 42 trading pairs.

Intuitive interface: the exchange platform is easy to use; it features only the necessary functions. Even beginners will master navigation quickly. For the token to enter the exchange, it should have value and liquidity, and its code must be error-free and public.

The absence of a mobile application is a serious drawback that may cost P2PB2B millions of users. The team has never mentioned that they will launch a mobile app for Android and iOS.

The exchange platform gives starters the chance to get listed — the worthiest project can promote their tokens and enter the market totally for free.

No corporate accounts are available, which means the current withdrawal and transaction limits can be too harsh for users.

 

There’s no margin/leverage trading.

P2PB2B can be recommended for starters who need to learn the basics of trading. They don’t have to do anything except for placing their order or taking the current ones. The administrators do not control the orders, which is why users have a chance to set up agreeable transaction rates. Therefore, you can enjoy the freedom of trading coupled with convenience and decent customer support. In order to stay competitive, P2PB2B needs to add new cryptocurrency and features for professional traders. Without advanced trading features and mobile applications, the platform is doomed to become just another exchange out of hundreds similar platforms.

Cover image via u.today
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IDCM: The Next Contender to be an Exchange Leader?

  • Vera Thornpike
    Exchanges Guide

    Our team continues researching exchange platforms, and today we’ll review IDCM. In this IDCM exchange review, we’ll take a closer look at its outstanding features


IDCM: The Next Contender to be an Exchange Leader?
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Contents

The market offers a wide selection of cryptocurrency exchange platforms, and despite China’s strict policy regarding crypto, the number of worthy crypto-related websites continues rising. Being a new exchange platform, IDCM has quickly become a comfortable place for traders. Will it live up to your expectations? This ultimate guide is here for you to decide.

About IDCM

This is a Chinese cryptocurrency exchange with a minor selection of trading pairs. IDCM was established in Hong Kong in April 2018: within half a year, it became one of the Top-20 cryptocurrency exchanges by daily turnover. What’s the secret of such success? The Chinese blockchain-based project was founded by Wall Street top-dogs: the team behind it consists of blockchain pioneers, independent financial directors, and other key people in the financial sphere.  

The IDCM alliance was organized by representatives of Deutsche Bank, UBS, ASX, and Accenture Blockchain’s team. It is being managed by former and current employees of NASA, McKinsey & Co., Google, Goldman Sachs, Tencent, IBM, Huawei, and KPMG. With so many talented contributors and rich investments, the platform was destined to thrive from the very start.


IDCM main page
IDCM exchange main page screenshot

Great liquidity and exceptional performance are praised by users. At the moment, IDCM supports 22 currencies and 38 trading pairs. The daily trading volume has exceeded $204 mln with BTC/USD exchange alone worth 11850,309 BTC.

What makes it special is its large trading volume and very quick processing of transactions. Although the number of trading pairs is far from outstanding, the exchange platform enlists the most reliable tokens only. IDCM boasts rock-solid protection of transactions and clients’ information. The system of alliances makes this platform resilient and super-fast.

Exchange Features

What makes IDCM very competitive is a large set of exclusive features and peculiarities.

First, IDCM is the first exchange platform in the world to use consensus mechanism: serving as super-nodes, alliances form the trading platform for the cryptocurrency. The alliance accumulates additional liquidity from transactions made outside the platform. The exchange volume can be five times higher than the trading volume.

Secondly, IDCM provides a whole gamut of top-notch financial services. It provides real-time information about the market, suggests beneficial trading strategies, and renders other marketing services. Traders are free to set price alerts: if the price exceeds 10% of the current rate, both buyer and seller are notified.

Thirdly, IDCM provides a great DApp platform for developers of games, trading products, eCommerce projects, and social media. DAICO, the proprietary development platform, is a specific solution for high-quality projects. IDC (IT) token will be used on the platform, as well: it may serve to distribute profits and get access to certain services.

What makes IDCM so special?
Key features of IDCM exchange platform

Please note that other cryptocurrency exchanges can join the alliance, but only the most reliable and quality projects are allowed to merge. Those that join will have access to IDCM’s technologies, resources and the exchange platform itself. Every website that gets enlisted will be legally protected in the country it represents: IDCM has well-developed algorithms of juridical protection. The decision about accepting new exchanges depends on the results of voting protocols.

Main Advantages

The Chinese cryptocurrency exchange appeals to both Chinese and international users due to a wide range of benefits available:

  • One key advantage of the platform is its exceptional performance and speed. The alliance standing behind IDCM is able of processing up to 1,400,000 orders per seconds. Besides, due to a high liquidity, users’ orders are taken quickly.

  • Military-grade encryption technology is topped off by multichannel distributional memory and AI security systems. Users’ personal and payment information is protected by SSL encryption.

  • Decentralization and super-nodes allow for a fast consensus mechanism which boosts transaction efficiency and allows users to participate in platform management.

  • Blockchain technology ensures data integrity, makes transactions transparent and allows for independent audit.

  • IDCM does its best to sustain liquidity. Since it’s organized as an alliance, it has a great support being backed up by strong investors.

The alliance continues growing quickly due to low entry barriers. If an exchange platform wants to join IDCM, there are only two things to do: 1) Get a domain name; 2) Pay the IDCM alliance fee. The company keeps supporting its partners by all means possible. Probably, due to this fact, the number of available trading coins can be expanded soon.

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Bonuses

Although newcomers aren’t offered any special bonuses, IDCM provides a generous referral reward: users can get a 30% trading commission discount for inviting their friends. To be more specific, you get 20% of the trading free that your own friends generate and 10% more from commission fees made by friends that sign up through them. If they get caught in fraudulent activities, you won’t get a reward.

Additionally, traders can test the new ToM (Trade-to-Mine) mechanism and get IT token dividends. That means the transaction fees are converted in IT coin and sent back to users. The more transactions you perform, the higher your benefit.

Exchange Trade Volume

At the moment of writing this article, the daily trading volume has exceeded $204 mln with BTC/USD exchange alone worth 11850,309 BTC. According to coinmarketcap.com, IDCM is on 13th place in top-20 crypto exchange platforms by the trading volume.

Trading statistics shows BTC and USDT are in demand
The most demanded trading pairs and currencies on IDCM

How to Use IDCM?

On the main website, you can see basic sections:

  1. Fiat – fiat cryptocurrency trading (only USD and HKD can be deposited/withdrawn).

  2. Trading –main trading page.

  3. IT – information about the proprietary token.

  4. IDCM ALLIANCE – information about joining the alliance.

  5. News about cryptocurrency.

The process of navigation is quite simple: you have all necessary information at your fingertips. As soon as you register, you can start making deposits and trade.

Want to trade on the go? IDCM offers a mobile application that’s compatible with iOS and Android. It can be downloaded on the official website.

IDCM mobile app
IDCM mobile application interface

Purchasing Cryptocurrency

Proceed to the Exchange section. You will see the following categories:

  1. Choice of the trading pair.

  2. Trading pair rates.

  3. Graphical information about the chosen trading pair.

  4. Open Buy orders.

  5. Open Sell orders.

  6. History of transactions.

  7. History of user’s trading.

  8. Sell/buy order form.

  9. Buy cryptocurrency.

To start a transaction, you need to select a trading pair and fill in the Buy form.

 ‘Buy’ cryptocurrency form
How to buy cryptocurrency on the IDCM exchange?

You can select the type of order:

  • Limit order – You choose the price.

  • Market order – The default market price is set.

Now set the price and the number of coins you need and click Buy. As soon as someone takes your order, you’ll get the coins.  

Sell Cryptocurrency

To place your order, fill in the Sell form. To have your order processed faster, place a bigger price, but make it more competitive. If you can’t wait and need an instant exchange, go to the list of Buy orders and take the one that suits your requirements.

 ‘Sell’ cryptocurrency form
‘Sell’ cryptocurrency form on IDCM

Trading Pairs

IDCM features 40+ coins. The most demanded trading pairs are BTC/USD, BTC/ETH, ETH/USD, BCH/USD, EOS/USD, NEO/USD, XRP/USD. This is not a large number of trading pairs, but the basic ones are covered and orders are accepted quite quickly.

Trading Coins

IDCM works with the most popular cryptocurrencies, including Bitcoin, Ethereum, Neo, Bitcoin Cash, Litecoin, Ripple, and others. It accepts USD and HKD as the fiat currency. Aside from it, the IT token is used as the reward for transactions.

One of outstanding coins on IDCM is VHKD (Virtual Hong Kong Dollar). This is a digital currency that’s bound to the Hong Kong Dollar (HKD). In comparison with USDT, which is not completely centralized, VHKD is more confidential and convenient in use.

Trade Fees

Another thing that attracts users is flat fee policy: users only pay agreeable 0.1% transaction fee (both makers and takers are charged 0.1%). Deposits in USD and HKD are charged 0.3% fee, while deposit in cryptocurrency is totally free. That makes IDCM’s commission the second lowest trading fee on Chinese cryptocurrency exchanges. The withdrawal fee is 0.0005 Bitcoin: no exchange platform can boast such a low withdrawal rate. Withdrawal fees for other currencies depend on the type of token. As for C2C Trading, IDCM has %0.25 fee for order placer and zero fees for an order taker.

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Transaction Limits & Liquidity

Neither website nor any third-party sources mention the trading limits: it is up to users to decide. But as for deposit and withdrawal limits, they depend on the currency. For example, the platform has a minimum $500/ 5,000 HKD / 0.01 BTC / 10 XRP deposit, which isn’t agreeable for users who make minor transactions. Withdrawal limits are pretty much the same as deposit, which means IDCM is the place for those who play big.

However, it should be noted that IDCM ensures a high liquidity of assets: the volume of transactions taking place in the alliance is five times higher than on the platform itself.

Setting up Trade Account

The interface of IDCM can be a bit confusing right from the start, but customers get used to it quickly: all sections and tabs can be accessed in a couple of clicks, and trade management is intuitive. Let’s observe step-by-step navigation on the website.

Creating an Account

To create an account, click the Sign-Up button in the upper right corner of the page. You’ll need to fill in the registration form:

  1. Email address (Gmail is highly recommended – it’s considered to have the best protection against hacking).

  2. Password.

  3. Click Get code. You will receive a letter on your email. Copy the code from the letter and paste it in the registration form.

  4. If you have a referral number, paste it in the form.

Now click Sign up. Congratulations — you’ve joined the ranks of IDCM users!

IDCM Registration form
The registration form on the IDCM exchange platform

Security

IDCM features basic security features, such as SSL encryption and firewall. But don’t forget your security is in your hands: there’s a handful of ways for account protection.

Before you rush to make a deposit, set up the account safety. Proceed to account settings (click on your Profile sign on the upper right corner of homepage). IDCM offers such protection measures as password and PIN code (those are generated upon signing up), 2-factor authentication, and verification.

Don’t forget your PIN
PIN code is the basic means of account protection

It is highly recommended to use 2fa from Google. How to set it up? Go to Security settings in IDCM and select 2fa. Download 2fa application on your mobile phone (both Android and iOS compatible versions are available). Open the app, press + on the upper right corner and click ‘Scan QR-code’ (it will be shown in IDCM). As soon as scanning is completed, the app will display a line with a 6-digit code: paste this code in the Google authentication code panel on IDCM and press Enable Google authentication. If your smartphone doesn’t recognize the QR-code, try to add brightness on your screen, or scan it with a third-party application.

 Setting 2fa from Google
How to set up 2fa protection by Google?

Unlike other exchange platforms, IDCM doesn’t oblige users to go through personality verification, but it may add trust to your account and prevent hacking. The process of verification takes from several days to several weeks and requires the following personal information:

  1. Country of residence.

  2. Passport/ID number (scan + selfie).

  3. User’s full name.

Adding Payment Methods

While IDCM accepts wire transfer for deposits, no plastic or credit cards are supported. You cannot add a payment method — the transfers to the exchange platform can be saved as patterns in your banking account.

Depositing/Sending Cryptocurrency

To deposit funds, go to your account and proceed to Assets section. The page with available coins for trading will be opened. Select the cryptocurrency and click the Deposit button on the opposite. The Deposit form will be opened. Copy the address of generated wallet. Paste it in the Receiver’s address in the payment system you use (exchange platform, cold wallet, etc).

BTC deposit
BTC deposit page on IDCM

To withdraw your funds, go to the Withdraw section and fill in the form:

  • The address of wallet where you send money to.

  • Amount of coins.

  • Amount of coins you receive without commission (calculated automatically).

Now press the Withdrawal Confirmation button.

Withdrawal is a quick 4-step procedure
A short IDCM withdrawal instruction

Customer Support

IDCM provides customers with a decent level of 24/7 customer support. Following the practices of C2C trading platforms, IDCM gives users three hours to upload the proof of payment in the system. If the digital currency isn’t released within three hours, IDCM operations team will help to have the transaction finished.

Users can contact the assistants around the clock via email [email protected] or by making a phone call. Their customer support speaks several languages: Chinese, Korean, Vietnamese, Japanese, English, French, and Dutch.

Aside from that, users can get a lot of essential information in the knowledge library. The FAQ section offers a few guides on securing account, trading, deposits, and withdrawal. There’s the full set of API documentation for developers, as well.  

Conclusion

Generally, IDCM’s advantages outweigh the minor drawbacks:

Pros

Cons

Incredibly fast transaction processing (the alliance can process up to 1,400,000 orders per second).

The choice of trading pairs isn’t large: IDCM works with the most widespread cryptocurrencies only.

The website provides exceptional user experience thanks to easy navigation, mobile application, and transparent fee policy.

Deposit via credit/debit cards isn’t possible.

IDCM’s transaction fees are among the lowest ones on both Chinese and international market of cryptocurrency exchange platforms.

The website interface is available on a few languages, customer support speaks 8 languages. It means that IDCM isn’t equally convenient for people from different regions. The project needs to expand its global presence.

This is one of the first exchange platforms that use Trade-to-mine technology: it means that users can earn IT tokens by simply performing transactions.

Relatively high deposit and withdrawal limits: IDCM is suitable for serious traders who can afford spending hundreds of bucks on investments.

IDCM is one of few cryptocurrency exchanges that does not track users’ transactions, e.g. what exactly coins are spent on. Personal security is boosted by 2-factor authentication.

Among fiat currencies, only USD and HKD are available for deposit.  

Aside from a trading platform, IDCM serves as trader’s personal consultant: it provides information about token rates, notifies about price fluctuations, and displays useful infographics. All the information (banners, announcement news, information, core advantages, partners, trading volume, social media, and links) is customizable.

Margin trading isn’t allowed.

IDCM ensures a high liquidity of all assets present, and users’ orders are processed quickly. Be assured: if you set up agreeable Buy/Sell price, your order will be taken instantly.

 

Providing its customers with a myriad of useful instruments and trading opportunities, IDCM platform has the right to be called one of the best cryptocurrency exchange platforms both in China and the world. Its creators strive to stay ahead of tech curve and leverage the best security practices for customers to be safe and sound. IDCM would be equally convenient for both starters and professional traders: fast order processing and convenient navigation make for brilliant user experience. The only serious drawback is a small choice of trading pairs. However, the situation can change to the better because IDCM alliance is free to join for third-party exchange services, and many starters will surely grab this opportunity with both hands.

You shouldn’t miss your opportunity as well: rumor has it that IDCM might cancel regular registration of new users and allow only for registration by referral links.

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