Allcoin Exchange Review

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.