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FCoin

FCoin

China-based FCoin – a new crypto exchange launched in May that takes a novel revenue model – has come under the spotlight after its trading volumes appear to have almost immediately surpassed some of the largest exchanges.
Founded: 05.2018
Type: Centralized
Country: China
About exchange
While the platform's trading data is currently not visible on more notable third party sites such as CoinMarketCap, a similar service in China indicates that FCoin saw over $5.6 billion in trading volume over the last 24 hours – more than the sum of the top-10 platforms on CoinMarketCap. Seemingly contributing to that spiking volume is the service's new business model, called "trans-fee mining," which is seen as controversial by the Chinese cryptocurrency media and has also been criticized by Binance, one of the world's largest exchanges. Founded by Zhang Jian, the former chief technology officer of Huobi, FCoin touts a new business model that effectively turns cryptocurrency trading into mining, since it provides a means to obtain FT tokens issued by FCoin. According to the platform's white paper, the total amount of FT is capped at 10 billion, 51 percent of which will be allocated to the public and 49 percent will be held by FCoin and its investors.
Top volume
BTC/USDT
Top increase
DSCOIN/ETH
166.67%
Supported languages
Russia
United Kingdom
United States
Trading volumes on the exchange
Distribution of volumes by pairs
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