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Allcoin Exchange ReviewCentralized
Allcoin is a crypto-asset exchange / digital asset exchange that seems to have been registered in Canada in 2013. Cascadia Consumer Electronics Corp. purchased the rights to the website and domain name (allcoin.com) in 2015. An Allcoin exchange review reveals that this was followed by the release of a beta version of the exchange in 2016. Cascadia Consumer Electronics Corp. is today known as the Cascadia Blockchain Group Corp. This comes after a name change in 2018.
An Allcoin exchange review reveals that this cryptocurrency exchange serves the crypto community via no less than 30 active markets. In addition, their website is available in both Chinese and English. This is great, but they seem to primarily cater to a portion of the Asian markets as certain parts of their website are only available in Chinese.
This cryptocurrency exchange seems to have its own platform token, namely ALLCOIN (Ticker symbol: ALC). It is an ERC20 token with a total supply of 1 billion tokens. It seems ALC tokens can be acquired via transaction fee mining and that extra ALC tokens can be earned by referring others to the platform. In addition, they seem to offer the opportunity to lock ALC tokens, something that makes it possible to mine a greater number of ALC tokens and/or to receive a greater bonus of ALC tokens.
They seem to offer an initial coin offering (ICO) section where blockchain projects can list their projects in order to obtain funding. It doesn’t seem very active, but makes for a nice addition to what they already offer.
One of Allcoin’s strongest points that makes them stand out is their trading fees for takes, which is claimed to be 0.00%. This is well below the global industry average, which rounds up around 0.25%. As low trading fees are very important and valuable for prospective cryptocurrency investors, this feature gives the exchange platform a major advantage against other platforms as it makes the platform incredibly appealing for those looking to trade or invest. The exchange allows for both fiat and cryptocurrency deposits, which is another strong point for Allcoin as it eliminates the need for certain users to use another platform to trade fiat currency into cryptocurrency, making it friendly towards new cryptocurrency investors. Fiat currencies can be deposited through bank transfers, credit cards or debit cards. Allcoin supports around 20 cryptocurrencies, which is definitely another strong suit.
Though Allcoin’s certain features make it user-friendly, such as the trading fee, it is not as accessible as some other platforms. You cannot use Allcoin in some countries in Africa, several countries in South America and the USA. Allcoin has a trustworthy background concerning security, since its parent company was the first publicly registered cryptocurrency exchange. This is definitely an advantage, however there is no detailed information on the security systems that the exchange uses concerning encryption, storage etc. Another issue that may arise is the fact that Canada does not have any specific regulation on cryptocurrency exchange yet, however it is planning on drafting legislation concerning ICOs. This makes the situation a bit unstable, as such regulation could be adapted for cryptocurrencies as well, which would hinder the platform’s stability. However, there is no certain information on the topic to date.
Allcoin Exchange Review, Trading Fees, Deposit and Markets
24h Trading Volume
Allcoin Total Trading Pairs
Allcoin Margin Trading
Allcoin Deposit Fees
Allcoin Trading Fees
Allcoin Fiat Deposit
Accepted Payment Methods
Crypto to Crypto Only
Allcoin Native Token
Native Token Smart Contract
Allcoin Trading Markets
Allcoin Stablecoins Trading
Daily Withdrawal Limit
Allcoin Withdrawal Fees
Allcoin Withdrawal Fees Discount
Proof of Reserves
Allcoin Exchange Rating Analysis
Last edit 28.11.2019
The Allcoin exchange, clearly an exchange targeting Chinese customers, claims it is based in Canada, and is owned by Cascadia Blockchain Group, a publicly listed company on the Canadian Securities Exchange. This fact, however, does not instill in us much confidence in the team's integrity: while they might be marketing the exchange for mostly Chinese crowds, English speakers will find that information about the exchange or its team is almost nonexistent online, and many people in the BitcoinTalk forums are accusing the exchange of not honoring their requested crypto withdrawals.
We cannot confirm these allegations, but from our research we believe Allcoin is faking their volume numbers - consistent reporting of upwards of $100M daily volume, a figure which suggests the exchange is rivaling Binance - is simply absurd. Due to this fact, we are losing trust in Allcoin, and would not be surprised if the exchange is actually selectively malicious - and not honoring withdrawals on purpose.
To conclude, from all the information available to us as English speakers, we believe users who are not well-versed in Chinese should stay away from Allcoin, if only due to their poor communication skills and shady atmosphere that surrounds the exchange.
Allcoin Exchange Additional Information
Allcoin Establish Date