IDCM is a relatively young exchange but has become popular in the cryptocurrency market. However, IDCM is not yet well known in global. Therefore, today, I would like to introduce to you what IDCM is and instructions for registering an account on this exchange!
What is IDCM?
IDCM is a Bitcoin exchange established in April 2018. This exchange is based in the Republic of Seychelles. The country is known as a haven for cryptocurrencies with a friendly tax system and laws.
IDCM stands for International Digital Currency Markets – owned by IDCG Group.
Types of fees on IDCM
IDCM charges 0.1% on each exchange.
Like many other exchanges, IDCM does not charge a fee to top up. However, the difference is that if you deposit directly USD or HKD (Hong Kong Dollar), users will be charged 2%. The minimum deposit amount in USD is 500 USD. That is, if deposited 500 USD, you will be charged 10 USD deposit. This is similar to HKD.
IDCM charges a withdrawal fee for each coin. You can check the withdrawal fee here: https://www.idcm.io/help/rate
Advantages of IDCM
- IDCM has issued a native coin called IDCM Token (IT). Holder IT will be reduced transaction fees and receive other incentives of the exchange.
- The exchange supports many trading platforms such as C2C, stock exchange.
IDCM supports cryptocurrency trading with fiat money. - Refer friends program receive double commission up to 30% of transaction fees.
- The founding team gathers many individuals who have worked at the top corporations. Including NASA, McKinsey, Google, IBM, Goldman Sachs, Tencent, ….
- IDCM receives capital support from eight wealthy investment funds. Especially with the presence of Soros Quantum Fund and Goldman Sachs.
Disadvantages of IDCM
- According to Observatory by Mozilla, IDCM’s security score is F. This proves that IDCM’s security ability is not really outstanding and stable.
- The exchange has been involved in many scam allegations, fraudulent user money, using fake ICO projects to “monetize” customers.
- Not support Margin Trading yet.
- User experience is not very good. Website frequently jerks, lag, … Moreover, the page loading speed is also extremely slow and the link is often broken.
Introduction of IDCM Token (IT)
Like Binance or Huobi, IDCM also issued a native coin called IDCM Token (IT). IT is the token of an exchange union formed by multiple exchanges, which is also used throughout the IDCM ecosystem and the IDC alliance.
Holder IT is the owner of all the rights across the IDCG ecosystem. You will enjoy revenue sharing services, accelerated mining through trading, financial management benefits, and decentralized applications.
The most practical benefit that users can get when using IT is reduced transaction fees. Specifically, after calculating the cost, the transaction fee will be converted into IT by IDCM, with equivalent value in real time.
To turn on the transaction fee reduction feature, from your account, select “Basic information”, then click on the “Discount function” button as shown below.
Instruction to register an account on IDCM
First, you go HERE to register an account on IDCM.
Then, enter your email address and create a new password for your account. Note, you should set a password of at least 12 characters.
You continue to click “Send code” to IDCM send verification codes to your email address.
You will then be asked to create a 5-digit pin code for extra security.
Completing the steps above is already able to trade on IDCM.
However, to be safe, I recommend that you still verify your KYC identity and turn on 2FA security as instructed below.
Conclude
In general, preferential policies and low transaction fees are two prominent criteria in IDCM. Moreover, the user experience on IDCM is weak. Not only that, IDCM also caught many allegations of user fraud and got an F in the Mozilla security test.
Therefore, IDCM has not completed the infrastructure as well as optimizing the experience for users 100%.
Hope the above will help you better understand IDCM and choose for yourself the right place to send the right belief.