Fcoin

Fcoin Exchange Review

Centralized

Fcoin Overview

  • FCoin exchange, a Chinese platform which launched in May 2018, bases its appeal on its unique business proposition, “the first autonomous community-based trading platform”, and claimed transparency. Its founder and CEO Zhang Jian has a lot of experience in the field as he has been involved in the sector since its beginning, and has worked on creating China’s first multi-signature wallet and Bitcoin exchange, Huobi. The F in FCoin stands for “future”, reflecting Zhang’s mission in bringing something new to the table in the sector. The exchange saw a very impressive market cap in its infancy due to the hype that it has created, however later on the autonomous business proposition that it prides itself on has given way for suspicions of intentionally shaking up and clogging the Ethereum network in order to gain traders’ attention, due to its decentralized and ICO-like nature.

    FCoin works on a system called “transaction mining”, in which the users are reimbursed their transaction fees through the exchange’s native token. The transaction fee of the exchange is %0.10, which is well below the global industry average rounding up around %0.25. There aren’t any recorded withdrawal fees on the platform. The fee is paid in BTC and ETH, and then the users are fully reimbursed in FCoin’s native token, which suggests an ICO-like system. Due to this feature, the platform does not allow for deposits of fiat currency, meaning that new crypto-currency investors would need an entry-level exchange in order to use this platform. The exchange also provides other features, such as giving its users the right “to participate in business decisions”. Also, the platform does not follow a reward-based system. FCoin’s website is pretty basic and allows for interface languages in English and Mandarin. It also has a mobile app for those who prefer to trade on the go, which can be downloaded on the App Store and on to Android phones. The interface languages on the mobile app are the same and offer practicality.

    Fcoin Exchange Review, Trading Fees, Deposit and Markets

    • 24h Trading Volume

      341.919 BTC

      • Fcoin Total Trading Pairs

        68

        • Fcoin Margin Trading

          Yes

          • Fcoin Deposit Fees

            N/A

            • Fcoin Trading Fees

              0.1%

              • Fcoin Fiat Deposit

                No

                • Accepted Payment Methods

                  N/A

                  • Fcoin Native Token

                    Yes

                    • Native Token Smart Contract

                      N/A

                      • Fcoin Trading Markets
                        • Fcoin Stablecoins Trading

                          Fcoin Markets Data

                          Market Price Volume (24h) Change (24h) Last update
                          ADA/USDT ₮ 0.06036 ADA 1,517,767.4

                          ₮ 0.0020

                          3.43%

                          2020-02-06 12:37:19
                          AE/ETH Ξ 0.003587 AE 0

                          Ξ 0.0

                          0.00%

                          2020-01-20 10:53:11
                          AE/USDT ₮ 0.2048 AE 0

                          ₮ 0.0

                          0.00%

                          2020-02-02 01:49:43
                          AIDOC/ETH Ξ 0.00002493 AIDOC 54,932.0

                          Ξ 0.0

                          0.00%

                          2020-02-06 12:34:06
                          ANDC/USDT ₮ 0.006000 ANDC 372.75

                          ₮ 0.0047

                          361.54%

                          2020-02-06 11:41:23
                          BBGC/USDT ₮ 0.00002700 BBGC 110.00

                          ₮ -0.0000050

                          -15.62%

                          2020-02-06 10:36:28
                          BNB/USDT ₮ 19.11 BNB 0.2400

                          ₮ 0.91

                          5.00%

                          2020-02-06 12:36:34
                          BSV/USDT ₮ 304.32 BSV 4,668.42

                          ₮ 17.86

                          6.23%

                          2020-02-06 12:37:47
                          BTC/PAX PAX 9,722.70 Ƀ 7.01

                          PAX 285.90

                          3.03%

                          2020-02-06 12:14:19
                          BTC/TUSD TUSD 11,900.0 Ƀ 0

                          TUSD 0.0

                          0.00%

                          2020-01-31 11:08:34
                          BTC/USDC USDC 8,602.90 Ƀ 0

                          USDC 0.0

                          0.00%

                          2020-01-21 10:27:34
                          BTC/USDT ₮ 10,378.7 Ƀ 347.70

                          ₮ -997.80

                          -8.77%

                          2020-09-04 08:34:57
                          BTM/USDT ₮ 0.1200 BTM 0

                          ₮ 0.0

                          0.00%

                          2020-02-04 01:48:58
                          DASH/USDT ₮ 122.20 DASH 671.44

                          ₮ -0.30

                          -0.24%

                          2020-02-06 12:34:42
                          DOGE/USDT ₮ 0.001840 DOGE 0

                          ₮ 0.0

                          0.00%

                          2020-02-05 03:24:33
                          DPN/ETH Ξ 0.00000119 DPN 31,250.5

                          Ξ 0.0

                          0.00%

                          2020-02-06 12:34:26
                          DPN/USDT ₮ 0.0002271 DPN 29,317.0

                          ₮ 0.000037

                          19.67%

                          2020-02-06 12:34:27
                          DRINK/USDT ₮ 0.6236 DRINK 1,629.00

                          ₮ 0.00010

                          0.02%

                          2020-02-06 12:18:04
                          EOS/BTC Ƀ 0.0004748 EOS 31,418.4

                          Ƀ 0.0000048

                          1.02%

                          2020-02-06 12:36:51
                          EOS/ETH Ξ 0.02178 EOS 51,641.5

                          Ξ -0.00086

                          -3.80%

                          2020-02-06 12:37:18
                          EOS/PAX PAX 0.001000 EOS 18,380.4

                          PAX -4.53

                          -99.98%

                          2020-02-06 05:14:28
                          EOS/USDC USDC 0.002000 EOS 0

                          USDC 0.0

                          0.00%

                          2020-01-31 03:03:43
                          EOS/USDT ₮ 4.64 EOS 1,311,707.3

                          ₮ 0.19

                          4.30%

                          2020-02-06 12:37:37
                          ETC/USDT ₮ 12.62 ETC 130,867.6

                          ₮ 0.61

                          5.10%

                          2020-02-06 12:37:07
                          ETH/BTC Ƀ 0.02180 Ξ 6,539.36

                          Ƀ 0.0010

                          4.96%

                          2020-02-06 12:37:30
                          ETH/PAX PAX 211.26 Ξ 1,168.12

                          PAX 14.65

                          7.45%

                          2020-02-06 12:14:38
                          ETH/USDC USDC 184.15 Ξ 0

                          USDC 0.0

                          0.00%

                          2020-01-30 23:51:53
                          ETH/USDT ₮ 212.94 Ξ 40,502.0

                          ₮ 16.59

                          8.45%

                          2020-02-06 12:37:31
                          FMEX/USDT ₮ 0.06310 FMEX 2,485,881.0

                          ₮ 0.0012

                          1.94%

                          2020-02-06 12:36:22
                          FTK/USDT ₮ 0.03320 FTK 7,124,817.7

                          ₮ 0.0021

                          6.75%

                          2020-02-06 12:36:41
                          ICX/ETH Ξ 0.0001014 ICX 3.02

                          Ξ 1.0e-7

                          0.10%

                          2020-02-06 09:44:00
                          ICX/USDT ₮ 0.1035 ICX 1.52

                          ₮ 0.00040

                          0.39%

                          2020-02-05 13:48:37
                          INT/ETH Ξ 0.00003400 INT 0

                          Ξ 0.0

                          0.00%

                          2020-01-06 15:01:01
                          IONC/ETH Ξ 0.00009726 IONC 1,943,579.6

                          Ξ 0.0000024

                          2.51%

                          2020-02-06 12:26:31
                          JCB/USDT ₮ 0.00004900 JCB 0

                          ₮ 0.0

                          0.00%

                          2020-01-31 17:38:18
                          KAN/ETH Ξ 0.00001176 KAN 7,855,249.0

                          Ξ -5.5e-7

                          -4.47%

                          2020-02-06 12:37:40
                          LINK/USDT ₮ 2.84 LINK 1.00

                          ₮ 1.72

                          153.12%

                          2020-02-05 16:30:46
                          LOOM/ETH Ξ 0.00002902 LOOM 0

                          Ξ 0.0

                          0.00%

                          2020-01-20 09:52:09
                          LTC/BTC Ƀ 0.007610 Ł 498.71

                          Ƀ 0.000050

                          0.66%

                          2020-02-06 12:36:51
                          LTC/ETH Ξ 0.3494 Ł 102.24

                          Ξ -0.016

                          -4.35%

                          2020-02-06 12:34:28
                          LTC/PAX PAX 71.01 Ł 0

                          PAX 0.0

                          0.00%

                          2020-02-03 02:00:53
                          LTC/USDC USDC 55.84 Ł 0

                          USDC 0.0

                          0.00%

                          2020-01-16 14:17:34
                          LTC/USDT ₮ 74.33 Ł 84,440.4

                          ₮ 2.87

                          4.02%

                          2020-02-06 12:37:32
                          MIOTA/USDT ₮ 0.3430 MIOTA 105,124.4

                          ₮ 0.013

                          3.88%

                          2020-02-06 12:37:14
                          OMG/ETH Ξ 0.007013 OMG 0

                          Ξ 0.0

                          0.00%

                          2020-02-05 05:36:02
                          OMG/USDT ₮ 1.14 OMG 0

                          ₮ 0.0

                          0.00%

                          2020-02-05 05:32:26
                          OSC/USDT ₮ 0.0005000 OSC 0

                          ₮ 0.0

                          0.00%

                          2020-02-04 15:49:02
                          PAX/USDT ₮ 1.00 PAX 49,890.2

                          ₮ 0.00040

                          0.04%

                          2020-02-06 12:37:23
                          QQBC/USDT ₮ 0.007300 QQBC 1,347,781.3

                          ₮ 0.0

                          0.00%

                          2020-02-06 12:36:32
                          RUFF/ETH Ξ 0.00004325 RUFF 0

                          Ξ 0.0

                          0.00%

                          2020-02-05 03:19:35
                          SMT/ETH Ξ 0.00002377 SMT 104,482.0

                          Ξ 1.2e-7

                          0.51%

                          2020-02-06 12:36:20
                          TRX/USDT ₮ 0.02086 TRX 5,822,889.1

                          ₮ 0.00096

                          4.82%

                          2020-02-06 12:37:22
                          TUSD/USDT ₮ 1.00 TUSD 20,264.0

                          ₮ -0.00050

                          -0.05%

                          2020-02-06 12:37:41
                          UENC/ETH Ξ 0.006000 UENC 0

                          Ξ 0.0

                          0.00%

                          2020-02-03 03:25:28
                          UENC/USDT ₮ 1.53 UENC 510,787.8

                          ₮ 0.10

                          7.19%

                          2020-02-06 12:36:54
                          USDC/USDT ₮ 1.00 USDC 25,386.5

                          ₮ -0.00090

                          -0.09%

                          2020-02-06 12:37:14
                          VNT/ETH Ξ 0.00001000 VNT 0

                          Ξ 0.0

                          0.00%

                          2020-02-02 10:40:38
                          XLM/USDT ₮ 0.07050 XLM 856,523.0

                          ₮ 0.0032

                          4.75%

                          2020-02-06 12:37:17
                          XRP/BTC Ƀ 0.00002896 XRP 42,570.0

                          Ƀ 1.0e-8

                          0.03%

                          2020-02-06 12:34:44
                          XRP/ETH Ξ 0.001328 XRP 231,190.0

                          Ξ -0.000062

                          -4.46%

                          2020-02-06 12:37:25
                          XRP/USDT ₮ 0.2826 XRP 6,183,290.0

                          ₮ 0.0095

                          3.48%

                          2020-02-06 12:37:30
                          ZEC/USDT ₮ 71.72 ZEC 2,040.19

                          ₮ 3.34

                          4.88%

                          2020-02-06 12:36:31
                          ZIL/ETH Ξ 0.00002100 ZIL 0

                          Ξ 0.0

                          0.00%

                          2020-01-17 12:05:08
                          ZIL/USDT ₮ 0.006420 ZIL 0

                          ₮ 0.0

                          0.00%

                          2020-02-04 12:43:57
                          ZIP/ETH Ξ 0.00000060 ZIP 0

                          Ξ 0.0

                          0.00%

                          2020-01-17 08:15:36
                          ZIP/USDT ₮ 0.0001970 ZIP 3,587,301.6

                          ₮ 0.000029

                          17.26%

                          2020-02-06 12:35:09
                          ZRX/ETH Ξ 0.001495 ZRX 0

                          Ξ 0.0

                          0.00%

                          2020-01-08 19:46:21
                          ZRX/USDT ₮ 0.2043 ZRX 8,591.52

                          ₮ -0.0010

                          -0.49%

                          2020-01-10 02:39:54

                          Fcoin Withdrawals

                          • Daily Withdrawal Limit

                            N/A

                            • Fcoin Withdrawal Fees

                              N/A

                              • Fcoin Withdrawal Fees Discount

                                0.05% discount for makers.

                                • Proof of Reserves

                                  N/A

                                  Fcoin Exchange Rating Analysis

                                  Last edit 28.11.2019

                                  • 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.

                                    Fcoin Exchange Additional Information

                                      • Fcoin Headquarters

                                        Hong Kong

                                        • Fcoin Establish Date

                                          2018