Comparison of Wazirx vs Abcc [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Wazirx vs Abcc comparison!

Your expert: Alejandro Borja

wazirx

Wazirx

  • Threenvest valuation: 3,9/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

abcc

Abcc

  • Threenvest valuation: 3,6/5
  • US legal: No
  • Security: High 4,5/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

0,20%

Earns

No

Customer service

4/5
0,10%

Fees

Yes

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold

Yes
No

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with additional rewards for using the native token.
4.0 – Reasonable and low trading fees across various services.

Level

0,20%
0,10%

Brief explanation

WazirX structures its commissions to be competitive within the cryptocurrency exchange market, particularly appealing to Indian traders. The platform charges a flat fee of 0.2% per transaction, which applies to both makers and takers. This straightforward, no-tier fee structure makes it easy for users to understand exactly what they will pay per trade, without any hidden complexities. Additionally, deposit fees are free for cryptocurrencies, but there may be small charges for fiat transactions depending on the method used, and withdrawal fees vary by cryptocurrency, reflecting network fees rather than platform charges.
ABCC Exchange implements a highly competitive fee structure, charging a uniform 0.10% trading fee for both makers and takers. This rate is significantly lower than the global industry average, which typically hovers around 0.25%. Such a fee model is advantageous for traders of all volumes, from small-scale to high-frequency traders, as it simplifies cost calculations and maximizes potential returns on each transaction. The clear and transparent fee policy at ABCC ensures that users are not subjected to variable rates or hidden charges, making it easier for traders to plan their trading strategies effectively.

Wazirx

wazirx
Read wazirx review
  • Year founded: WazirX was established in 2017, quickly becoming a key player in the Indian cryptocurrency space, demonstrating robust growth and longevity in a highly volatile market.
  • Security methods: WazirX employs a comprehensive set of security measures, including two-factor authentication (2FA) and regular security audits, ensuring a secure trading environment for its users.
  • Volume managed and trading volume and liquidity: Since its acquisition by Binance, WazirX has seen substantial increases in its trading volumes, benefiting from Binance’s high liquidity pools which enhance trading efficiency and price stability on the platform.
  • Reputation and Reviews: The platform is well-regarded in the Indian cryptocurrency community, known for its user-friendly interface and reliability. Its strategic partnership with Binance further boosts its credibility among users.
  • Customer service: WazirX offers a dedicated support team and has a comprehensive FAQ and support section that addresses common issues and guides new users through the trading process, contributing to a supportive user experience.
  • Pros
  • Supports numerous cryptocurrencies.
  • User-friendly interface.
  • INR deposits and withdrawals.
  • Cons
  • Occasional technical glitches.
  • Slow customer support.

Read wazirx review

Abcc

abcc
Read wazirx review
  • Security Methods: ABCC employs robust security protocols, including multi-factor authentication, cold storage of assets, and encrypted systems to ensure the safety of user funds and data. These high-level security measures mitigate risks of hacking and unauthorized access, making it a secure platform for trading digital assets.
  • Trading Volume and Liquidity: The exchange boasts a substantial trading volume and liquidity, which is indicative of a healthy trading environment. High liquidity ensures that trades can be executed quickly and at desired prices, which is beneficial for all types of traders looking to capitalize on market movements.22
  • Reputation and Reviews: ABCC has built a strong reputation within the crypto community for its reliable and efficient service. Positive reviews from users across various platforms highlight the exchange’s user-friendly interface, technical capabilities, and its commitment to providing a secure trading experience.
  • Transparency: The exchange is known for its transparent practices, particularly in terms of fee structure and trading operations. ABCC provides clear information on all transactions and charges, allowing traders to make informed decisions without worrying about hidden fees.
  • Customer Service: ABCC places a significant emphasis on customer support with a comprehensive service that addresses user queries and issues promptly. This dedication to assisting users not only builds trust but also ensures that traders can use the platform with confidence, knowing that help is readily available.
  • Pros
  • Advanced technical trading features.
  • Wide range of cryptocurrency pairs.
  • Competitive and diverse fee structure.
  • Cons
  • Complex fee structure, confusing.
  • Customer support needs improvement.

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Product selection

Native token

Token WRX
No

Earns

No
Yes

NFT marketplace

Yes
No

Cripto/debit card

Yes
No

Company information

Full name

Zanmai Labs Private Limited
ABCC Digital Asset Exchange

Regulation

Not regulated
Not regulated

Year founded

2018
2018

Founder

Nischal Shetty
Calvin Cheng

Payment methods

Transfers

Yes
No

Mastercard

Yes
No

Wire transfer

Yes
No

Card

Yes
No

Comparative table

Wazirx FEATURES Abcc
WazirX allows users to begin trading with relatively small amounts, making it an accessible option for beginners and those looking to test the waters without significant initial investments.
Minimum Trade
ABCC allows low minimum trades, making it accessible for beginners, though not the lowest in the market.
WazirX charges a flat fee of 0.2% on all trades, which is competitive; however, a lack of fee tiering can deter high-volume traders who typically benefit from reduced rates in other exchanges.
Trading and Transaction Fees
Fees are competitive but can be complex and confusing for new users.
The platform supports a broad array of cryptocurrencies, providing users with ample opportunities to diversify their portfolios with both popular and less mainstream tokens.
Number of Cryptocurrencies
Offers a wide range of cryptocurrencies, suitable for diversified trading.
Offers a substantial number of trading pairs, which is beneficial for traders looking to capitalize on market movements across various cryptocurrencies.
Crypto-to-Crypto Trading Pairs
Provides an extensive array of trading pairs, enhancing trading flexibility.
Generally, WazirX maintains a transparent approach with visible fee structures and trading terms; however, improvements could be made in the visibility of wallet safety and fund security protocols.
Website Transparency
Generally transparent about fees and policies, though some details may be hard to find.
WazirX lacks an exchange card, limiting flexibility in utilizing crypto assets for everyday transactions and benefits.
Credit/Debit Card
Does not directly support credit/debit card transactions, limiting fiat access.
Provides robust storage options with an emphasis on security; includes both hot and cold wallet solutions to ensure the safety of user assets.
Storage Offering
Offers secure storage solutions, including cold storage options.
While WazirX offers staking options, the variety and rewards rates are less competitive when compared with larger platforms that specialize in staking and yield farming.
Staking and Rewards
Provides staking options but is less competitive compared to leading exchanges.
Both the mobile app and desktop platform are well-designed, offering intuitive navigation and comprehensive functionality that meets the needs of most traders.
Mobile App and Desktop
Both mobile and desktop platforms are user-friendly and robust.
The platform’s customer service is an area needing improvement, with reported delays in response times and issues with the effectiveness of the solutions provided.
Customer Service
Customer service is available and responsive but could benefit from faster response times.
Deposits and withdrawals are processed efficiently, especially for INR transactions. However, the platform could expand its support for additional fiat currencies to enhance user convenience further.
Deposit and Withdraw
Supports a range of deposit and withdrawal methods, though not as extensive as some competitors.

Key features

Analysis tools

Basic charting tools
Basic charting tools

Mobile APP

Yes
No

Security

High 4,6/5
High 4,5/5

Additional features

Staking, WazirX token (WRX) rewards, WazirX Earn, fiat on/off ramps
Spot trading, margin trading, staking, ABCC token (AT) rewards

Anonymity

No
No

Key points

Available cryptocurrencies

100+
50+

User-friendliness

WazirX provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.
ABCC provides a straightforward and easy-to-use platform, ideal for beginners. Its clean layout and helpful guides make the initial learning curve less steep, allowing new users to get up and running quickly with their trades.

Value for money

Provides good value for money with competitive fees and a wide range of supported cryptocurrencies, making it an affordable choice for Indian users.
Offers reasonable value for money with low trading fees and a variety of supported cryptocurrencies, though it may not have the lowest fees compared to some competitors.

Countries of operation

India, United States, Canada, United Kingdom, Australia
Singapore, China, South Korea, United Kingdom, United States

Best for

Ideal for Indian investors seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.
Suitable for both beginners and experienced traders who are looking for a straightforward platform with a variety of supported cryptocurrencies and low trading fees.

Base currencies available

INR, USDT
BTC, USDT, ETH

Account

Trading

WazirX is one of the largest exchanges in India, offering a wide range of cryptocurrencies and easy fiat integration. It has competitive fees and a user-friendly platform but has faced regulatory challenges.
ABCC provides an intuitive trading environment with numerous cryptocurrency options. It features competitive trading fees and a solid security framework. However, it lacks advanced trading tools which might be a drawback for professional traders.

Deposit and withdrawal

WazirX is one of the largest exchanges in India, offering a wide range of deposit methods. Withdrawals are processed quickly, with competitive fees.
ABCC supports a variety of deposit options such as bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed within 1-2 business days with low fees.

Account opening process

WazirX offers a straightforward and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient and typically takes less than a day to complete.
ABCC offers an easy and fast account opening process. Users need to provide personal details, verify their identity with documents, and the account is usually approved within one business day. It’s user-friendly and efficient.

KYC required?

Yes
No

Customer Service

WazirX offers extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, making it reliable for users in India.
ABCC offers customer support via email, live chat, and a help center. The response time is fast, and the support team is knowledgeable, although phone support is lacking.

Security

WazirX offers comprehensive security measures, including 2FA and cold storage. It is regulated by Indian authorities, ensuring high security for investors.
ABCC offers robust security features, including 2FA and cold storage for funds. However, it is not regulated by major financial authorities, which might be a drawback for users seeking high security.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As one of the experts reviewing WazirX, I recommend this platform for Indian users looking for a straightforward entry into the world of cryptocurrencies. Its integration with Binance enhances liquidity and provides a robust range of trading options, which is beneficial for both novice and experienced traders. However, be mindful of occasional technical issues and prepare for potential delays in customer service response times. Overall, WazirX stands as a solid choice, especially if you value an easy-to-navigate interface and a wide selection of crypto assets.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert reviewing cryptocurrency platforms, I find ABCC Exchange to be a solid choice for traders looking for a robust trading environment with a good variety of crypto options. However, I recommend potential users to familiarize themselves with its fee structure and customer service capabilities to ensure it meets their trading needs. While the platform excels in security and trading volume, enhancing transparency and simplifying its fee system could make it even more appealing to a broader audience.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

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