Coindeal Review – Exchange Guide
Cryptocurrency exchanges have increased in notoriety over the previous years, keeping up with the request that was created by the flood in crypto market prices. As these platforms allow users to exchange coins between them, it is fundamental that they execute the best safety efforts to protect their users from noxious variables. But not all exchanges make each and every stride conceivable to ensure their users. Taking into account the consistently rising number of fruitful hacks that objective crypto exchanges, it is basic these days that trading platforms take security with the most extreme of reality. One case of such an exchange is CoinDeal.
What is CoinDeal?
CoinDeal is a crypto exchange platform propelled in March 2018 with its tasks in Cyprus, which offers trading for the best coins and tokens in the crypto world. Along these lines, users can make protected and quick crypto-to-crypto and fiat-to-crypto trading. Its services apply to 20 markets and 18 coins including Bitcoin, Litecoin, Bitcoin Cash, Ether, Dash, and Quantum.
CoinDeal is under the responsibility for Trading Solutions Limited, which likewise possesses another bitcoin exchange – BuyCoinNow, which has been dynamic in the crypto space for quite a while and is considered to be a respectable supplier.
The team behind the project consists of experienced crypto aficionados that have been dynamic in the blockchain and cryptocurrency industry for quite a long time. The main center is involved the Adam Bicz, Filip Dzierzak, and Kjetan Mackowiak trio.
Bicz and Maćkowiak likewise grew together BuyCoinNow.com, a cryptocurrency exchange where users can without much of a stretch buy Bitcoin with the lowest expense and PayCoiner.com, a payment supplier that acknowledges cryptographic forms of money.
Bicz has involvement in programming and has already worked in Dubai, Mackowiak is a specialist in marketing and business, and Dzierzak handles finances, and IT is important.
The team does know the low down about cryptos, as well as have top to bottom knowledge about the real issues that happen on cryptocurrency exchanges and trading platforms. They are exceptionally focused on security; in this manner, they built up a crypto exchange that featured the highest innovative norms intended for security.
CoinDeal features extremely appealing trading fees of 0.3% for market producer and 0.4% for market taker, which is applicable for all sets. The deposits are acknowledged in the majority of the recorded monetary forms, including EUR. The withdrawal charge for BTC is 0.0008 BTC, and, for the rest, 0.01 is required for each corresponding coin. The withdrawal charge for euro is 9 EUR, paying little mind to the sum that is withdrawn.
Deposits are free for all cryptographic forms of money (BTC, BCH, ETH, LTC, DASH, QTM) and additionally fiat monetary standards (EUR).
CoinDeal’s makers have put a significant spotlight on the platform’s security. Their main need was to build up a cryptocurrency exchange platform that has just the best innovations in security, considering that hacks focused towards crypto exchanges are increasing constantly.
To guarantee that the user’s funds are secure, each account utilizes a Two Factor Authentication process. Likewise, every chilly wallet’s key is kept in Swiss banks deposits. CoinDeal keeps 90% of all funds offline in cool stockpiling. The customer funds are kept in a Danish bank.
Both the platform and the user funds are anchored, the framework implementing a microservices engineering. This implies unapproved access to modules isn’t allowed, or in case of such, it is promptly recognized.
A few Order Types
CoinDeal has available for its brokers two kinds of requests: market and stop misfortune.
CoinDeal’s services are available all around, aside from natives and inhabitants from the US.
Simple to Use Platform
CoinDeal has a user-accommodating trading platform, featuring different useful graphs and monitoring devices, along with a request book and an ongoing requests list. Numerous cryptocurrency exchanges generally offer a straightforward buy and offer alternative, without having any extra trading instruments.
CoinDeal has seen that numerous crypto exchangers don’t offer support for fiat-to-crypto trading, so they chose to offer its users the likelihood to exchange from fiat with the crypto-coin of their decision.
This simplifies the trading procedure for those that don’t have crypto holdings. They won’t have to buy or exchange bitcoin and different digital forms of money to perform exchanges on CoinDeal; they can essentially deposit their Euros to buy cryptos. As of now, the main fiat money available on the platform is Euro, but different monetary forms will be included soon.
Users that invite their companions to make an account on CoinDeal will get up to 20% of their trading expense. At first, for the first three months of CoinDeal’s running, the reward was raised to half. But in the wake of taking notification of the solicitations its users made, CoinDeal reported that the half rate will be available for a longer timeframe.
The users can influence which digital forms of money will be included the platform through a voting framework. In the first voting session, the users chose different digital forms of money, and they were included the following two weeks. The coins included were: Ripple, Nano, ByteCoin, Verge, and Lisk.
Later on, CoinDeal likewise included: Deep Onion, DraftCoin, FuturoCoin, Infinity Economics and StrongHands, which can be exchanged with committed wallets.
They offer support for the local SegWit address. CoinDeal empowers deposits on Bech32 addresses. They intend on contributing to Bitcoin’s (BTC’s) Lightning network, because they endeavor to make transactions snappier and more secure for its users.
CoinDeal plans to be completely operational 24 hours per day, 7 days seven days, so their customers can profit by 100% uptime.
CoinDeal gives users a chance to verify the adjust of their exchange whenever they wish. They can check their wallet to ensure they discard the important funds for supporting withdrawals, or different transactions.
CoinDeal will offer its services to corporate users too. For this, they have two different kinds of CoinDeal accounts available, including individual and business accounts.
CoinDeal has a support team which is prepared to answer the majority of its customer’s inquiries and help them with whatever issues they may have. They will answer any inquiries and will offer support all day, every day.
The platform expects to include two new dialects for its brokers, Polish and Russian.
CoinDeal says that it will include more crypto coins in a matter of seconds (and urges users to vote on which ones they need to be made available on the platform); they will likewise include more fiat monetary forms.
Another dashboard will be propelled for trading, a mobile rendition of their app and an API for users.
Trading accounts and conditions
CoinDeal is another Cyprus-based cryptocurrency exchange that offers trading in Bitcoin, Litecoin, Bitcoin Cash, Ether, Dash and Quantum. The Bitcoin can be exchanged against the Euro, while alternate digital forms of money must be exchanged against the Bitcoin.
CoinDeal is possessed by Verified Trading Solutions Limited, the company that claims another bitcoin exchange – BuyCoinNow that has been around for some time and has a decent notoriety.
CoinDeal offers exceptionally appealing trading fees of 0.3% for market creator and 0.4% for market taker, on all sets. The deposits in all monetary standards, including the EUR, are free. The withdrawal expense for BTC is 0.0008 BTC, while alternate digital forms of money are with a 0.01 of the individual coin. The withdrawal expense for euro is EUR 9, regardless of the span of the withdrawal.
High withdrawal limits
Withdrawal for unverified customers is outlandish. Private customers have a high every day withdrawal farthest point of 100 BTC, while the corporate customers have no restriction.
CoinDeal stores 90% of all funds in cool offline stockpiling and stays with the funds in a Swiss bank. The customer funds are stored in a Danish bank. Moreover, the company has tight security guidelines and frameworks that don’t allow unapproved get to, or in case of such, it is seen quickly.
Several Order composes
CoinDeal offers two kinds of requests – market and stop misfortune. The last isn’t yet available, as the framework is still in beta mode.
CoinDeal says it is available all inclusive, but to US subjects and inhabitants.
CoinDeal has a pleasant trading platform, which has a few outlines and charting devices, a request book and an ongoing requests list. A large number of the cryptocurrency exchanges, especially the ones offering the basic buy and offer alternative, don’t waste time with a legitimate trading platform.
More monetary forms to be included
CoinDeal says it will extend its coin offering (and approaches users to vote on which to offer) and will include more fiat monetary standards also.
Still in Beta
CoinDeal is new to the point, that its platform is still in Beta mode. Regularly this implies there might be a few bugs and not all features might be completely useful. For instance, the stop misfortune arrange type isn’t yet actuated.
CoinDeal does not have a lot of liquidity yet, as it is still very new.
No info on deposit methods
We couldn’t find information about the fiat cash deposits, but in all probability the main available method is by bank exchange.
CoinDeal does not allow unknown trading on its platform. Users need to give their full name, address, a duplicate of an ID record, an ID selfie, a present photo with a mark and a proof of habitation.
No Mobile app
CoinDeal does not have mobile trading application (yet), but rather says it is working on developing it. Presently customers can exchange through the mobile-supported web platform.
CoinDeal does not offer utilized trading, also to most cryptocurrency exchanges. The investors who are more interested in speculating on the prices, as opposed to owning the coins, should somewhat join with a managed forex handle that offers utilized trading on CFDs with cryptographic forms of money as an underlying resource.
CoinDeal is still new and in beta testing mode, but in our opinion looks promising. The fees are very appealing as is the general feel and interface of the site and the platform.
What we don’t care for is that we couldn’t find out how we can influence deposits and withdrawals, without having to sign to up and go through the verification method, which we are not enthused about.
However the information on different parts of its exercises given by CoinDeal is sufficiently thorough.