Fcoin Exchange Review

  • 24h Trading Volume

    432726.294 BTC
  • Establish date

  • Headquater

    Hong Kong

Fcoin Exchange Review

  • Fcoin Fees Discount

    0.05% discount for makers.

  • Accepted Payment Method

    Crypto to Crypto only
  • Native Token

  • Margin Trading


Fcoin Exchange Score Analysis

FCoin, a Chinese-oriented, Hong-Kong-based exchange, has started operating in May 2018 (after a brief beta in April) and quickly shot up the volume ranks in all major exchange tracking sites – due to its innovative Transaction Mining mechanism. The way this works is: all users who are trading on the platform receive 100% of the fees they paid for a trade back in the form of Fcoin Token, or FT. This model, while essentially is no different than an ICO as Binance’s CZ pointed out, has created a sort of “hype” and false hope that the token price will continue to parabolically increase – in plain words, a sort scheme fueled by dreams of getting rich quick, green candles and insane volume numbers.
We personally believe most reported volume from FCoin to be faked, and whichever volume is not – probably is traded only to “mine” FT, and immediately try to dump it for USDT, notably for a much higher fee than in a standard trading pair.
English speakers are going to feel quite lost at the sight of the FCoin platform, with hard to understand sections and near-impossible 2FA activation – and a support section that doesn’t know how to handle languages other than Chinese.
While the exchange was never hacked, due to its short lifespan and the shady way they operate today (no one from the team is disclosing public information about themselves, including CEO Zhang Jian) we would assess the risk that this exchange will be involved in a bad situation to be quite significant, and would advise to not use such an experimental model – and at least wait a few months to see if transparency improves and the business model holds water.