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Coindeal Review – Is Coindeal Scam Or Legit?

Coindeal Exchange Rating
Conclusion
Read our Coindeal review and learn why we recommend this exchange for online trading and why it is not a scam, learn all you need to know in this Coindeal review before you sign up with the exchange.
Account Types
8.9
Trading Speed
9.3
Customer Service
9.1
Safety
9.2
9.1

Coindeal Review

Coindeal logo

Coindeal is a cryptocurrency exchange platform that facilitates transactions in seven fiat currencies, and crypto trading in 40+ currencies. This Coindeal review focuses on a user-friendly exchange site that accepts bank transfers and credit cards.

Adam Bicz, Kajetan Mackowiak, and Alex Strzesniewski founded the company in March 2018. Since its inception, the exchange has grown tremendously in popularity. However, its aim is to spread blockchain technology to all industries around the world.

Coindeal claims to use advanced security mechanisms such as KYC verification, IP Whitelisting, 2FA authentication, and SSL and Cloudflare security features. They often use the IP Whitelisting system to provide additional benefits to users.

Coindeal has reasonable maker-taker fees of 0.3 percent and 0.4 percent, respectively. Customer service is now available 24 hours a day, seven days a week in various languages, to customers worldwide. The exchange has registered with FinCEN in the United States. It has received a VQF license from Swiss authorities. The platform has also applied for a license in Malta.

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CoinDeal has launched its token, CDL Token. It is available on both desktop and mobile via the CoinDeal Card.

CoinDeal’s owners did extensive research before launching their trading site, both technologically and strategically. Before launching the crypto exchange, the project BuyCoinNow was launched. This project let’s you buy bitcoin with credit cards. They also launched PayCoiner, which allows you to accept cryptocurrency deposits and withdrawals.

Exchange platformCoindeal
Websitecoindeal.com
Variety crypto  40
Account neededYes
VerificationMandatory
Verification levels2
Trading PlatformWeb-based, Mobile Application
Payment MethodBank account, Debit/Credit card, ACH transfer, Wire transfer, Crypto Conversion
Customer SupportEmail, Twitter, Phone, Telegram

What is Coindeal?

CoinDeal is a cryptocurrency exchange headquartered in Malta that began operations in March 2018. Regardless of its recent arrival in the industry, the platform has achieved “spectacular success in the global market.” According to the exchange, it aims to broaden blockchain technology “not only in the financial system but also in other industry branches worldwide.” CoinDeal is an entry-level exchange that supports over 40 cryptocurrency pairs and seven fiat currencies. The CoinDeal team takes pride in the platform’s security, transparency, and innovative nature. Even though it is new, CoinDeal has rapidly risen to become one of the best cryptocurrency platforms.

Coindeal website

Kajetan Makowiak, Adam Bicz, and Alex Strzeniewski are the key managers behind CoinDeal. They are all industry veterans; having worked on a variety of marketing and brand projects. Transparency is extremely important to CoinDeal. As a result, a lot of information about the team can be found on their website online. This allows for the establishment of a certain degree of trust between the team and CoinDeal users.

Since the exchange seeks to extend blockchain into new markets, they are eager to host events and various other initiatives to maximize engagement. One example is the Blockchain Summit, which they hold in London. They also sponsor the sports team of Wolverhampton Wanderers FC; fulfilling their pledge to support the cryptocurrency industry in other markets.

CoinDeal charges takers 0.3 percent and makers 0.4 percent in trading fees. These are not especially low fees when compared to other cryptocurrency platforms. They are, however, not big enough to be a constraint to users. Fiat deposits can be made via bank transfers and credit cards, making the platform accessible to new cryptocurrency investors. In terms of security, CoinDeal employs a high level of SSL encryption and the two-factor authentication (2FA) system. To guarantee maximum security, withdrawals require email confirmation, and funds are deposited in “cold wallets secured by Multisignature.”

CoinDeal is fairly easy to use. It has a mobile app in addition to its well-designed website. The app can be downloaded from their website. The website includes translations in various languages, including English, Chinese, German, and Korean. It is present on various social media platforms and offers customer service 24 hours a day, seven days a week. The platform is fully operational 24 hours a day. The platform also enables businesses to have different accounts. The website design is both sophisticated and simple, making it easy for users to navigate.

CoinDeal has also taken measures to increase accessibility for users all over the world. CoinDeal is now accessible in 13 states as of this writing, thanks to measures taken to comply with clear legal criteria. The team is also working to obtain a Maltese VFA license. Overall, this demonstrates that the CoinDeal team is working hard to grow the exchange.

Coindeal Trading Services

CoinDeal allows you to trade in over 20 different cryptocurrencies. This is more than its domestic rival MBAEX offers. You can trade all of the major cryptocurrencies and a few minor ones on this platform, and the exchange is constantly adding new cryptocurrencies.

Coindeal Fees

The trading fees for takers on this trading platform is 0.39 percent. This fee is marginally higher than both the global and domestic industry averages. The global industry average is likely to be about 0.25 percent. But, consider that CoinDeal has a solid offering to investors that outweigh the downside of this slightly higher trading fee.

One ray of hope for traders is that the maker fees are just 0.29 percent (i.e., ten decimal percentage points lower than taker fees). Furthermore, if you purchase and stake 150,000 or more of the exchange’s token – the CDL token – you will only have to pay 0.025 percent in taker fees and no maker fees at all.

All cryptocurrencies are free to transfer to CoinDeal. The deposit is free of charge at the crypto exchange. The cryptocurrency withdrawal fee amount can be found on the exchange’s price list.

CoinDeal has implemented a SegWit update, allowing BTC transactions to be quicker and cheaper. This reflects the company’s modern approach and concern for the customer.  Transaction fees for withdrawals from Bitcoin addresses starting with “BC1” is usually half the price.  The fee charged when withdrawing via fiat varies depending on the mode of payment chosen. The CoinDeal pricing list contains information on fees and buying limits.

Withdrawal and Deposit Fees

Withdrawal fees differ greatly between exchanges. Most exchanges charge a flat fee that varies by cryptocurrency. Some exchanges, however, charge percentage-based withdrawal fees. The latter implies that you pay withdrawal fees, such as 0.20 percent of your withdrawn amount.

When you withdraw BTC from addresses starting with 1 and 3, CoinDeal charges you 0.0008 BTC. This is a reasonable charge, and there are several higher rates out there. CoinDeal’s BTC-withdrawal fee for BTC-addresses starting with BC1 is competitive (Native Segwite, BECH32). CoinDeal charges just 0.0004 BTC per BTC withdrawal for these addresses. Given the industry average of about 0.0006 BTC per BTC-withdrawal, this is an extremely competitive fee.

You could previously deposit via wire transfer or credit card at CoinDeal. This was particularly helpful for newer cryptocurrency investors.

Coindeal API

CoinDeal offers the best options to its customers. It is possible to automate trading on the exchange thanks to an effective and refined API. The adaptable interface lets you choose whether a public or private key is only for trading or withdrawal. They guarantee fast and efficient API integration support and assistance. Their customer service is available 24 hours a day, seven days a week.

Coindeal Limits and Liquidity

CoinDeal’s 24-hour trading volume was $30,857,178 at the time this review was written. According to Coinmarketcap’s list of the world’s exchanges with the largest 24-hour trading volumes, CoinDeal is in the top 20 of all cryptocurrencies exchanges.

Coindeal Key Features

  • Native SegWit address support: Unlike many other platforms, Coindeal supports deposits to the Bech32 address. The exchange helps to hasten the Bitcoin network and it does everything possible to make your resources safer and transactions faster.
  • A large number of cryptocurrencies: CoinDeal launches new cryptocurrencies regularly, based on community reviews.
  • 100% uptime: The platform service is available 24 hours a day, seven days a week. Users should also be certain that their money will be available to them at all times. Furthermore, the exchange keeps users up to date on the latest deals the market has to offer.
  • Total transparency: There is no need to be concerned about a shortage of funds to make payments. Coindeal secures the payouts by welcoming cryptocurrency contributions. You can also check the balance of your account on the cryptocurrency trading platform at any time.
  • Real-time auditing: Coindeal performs time checks to ensure that every coin is in the correct place, with no risk of double funds.
  • Corporate accounts: They have separate accounts for private and corporate users.
  • 24/7 Support: CoinDeal offers professional support 24 hours a day, seven days a week, and is always available to answer your questions.

Currencies Available on Coindeal

CoinDeal supports Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dash, Ripple, Monero, Tron, Quantum, Nano, Verge, Bytecoin, Lisk, Futurocoin, Dogecoin, EOS, BitcoinToken, DraftCoin, Experience Points, and other coins.

The list is long. We can see that CoinDeal has put together an intriguing mix of the most well-known cryptocurrencies and a few unknown newcomers to the market. Overall, we can trade in several pairs on this cryptocurrency exchange. New cryptocurrencies are typically added to the platform via a voting system in which users decide which currency appears in the offer first. It is a tried-and-true form of activity that loyal traders support because it allows them to shape the crypto exchange’s offer and have a significant impact on its development.

You should also know that you van trabsacrt with two stablecoins: Tether (USDT) and TrueUSD (TUSD). It is also noteworthy that the CoinDeal token (more information about the CoinDeal token can be found on their website), which might be a great investment opportunity.

Particularly noteworthy are bitcoin, fiat currencies, and other cryptocurrencies, which can be purchased with up to seven traditional currencies, including:

• American dollar (USD)

• Euro (EUR)

• Swiss franc (CHF)

• Russian rouble (RUB)

• Polish zloty (PLN)

• British pound (GBP)

• Korean won (KRW)

This is by far one of CoinDeal’s most significant advantages. The crypto exchange brings together users from all over the world, including Europe, Africa, South and North America, and Asia, thanks to its wide range of Fiat currencies.

Coindeal Interface

Coindeal has two trading UI variants, one for futures trading and one for spot trading. This is to be expected, as these are fairly generic user interfaces. Most trading platforms follow a similar logic to satisfy traders looking for something similar to Bitmex.

Coindeal’s spot trading section is straightforward, with a chart, open orders on one side, an order register, past trades, and an order book. Unfortunately, you will be dismayed in terms of customization, as the exchange does not allow you to modify the user interface in any way.

The color scheme is the only thing that the Futures UI has in common with the Spot UI. It has a far more polished look and a much better design overall. The trading interface for Coindeal’s Futures section is similar to Bitmex’s overall interface. This could imply that the exchange intends to provide an alternative for former Bitmex investors, as people may look for something similar elsewhere.

Even though the interface includes several customized tools for experienced traders, its simplicity makes it easy to use. You can trade with ease and choose from three order types: limit, market, or stop. Making deposits and withdrawals on the platform is as easy as clicking a button, and you can select an appropriate transfer method.

How Secure is Coindeal?

The level of security is one feature that distinguishes the CoinDeal exchange. The system forces the user to create a multi-level verification 2FA code during the registration process. Aside from the 2FA code, you will also need email confirmation for each withdrawal. Thus every login to the account from a different IP address is recorded, and the trader is alerted.

The CoinDeal website contains information on the security policy for personal data, incoming and outgoing payments, documents, and fund storage. As you can see, security is a top priority for the company. Furthermore, the platform has the highest SSL security standard and Cloudflare security functions. Also, 98 percent of bitcoins are stored on cold wallets which are offline and out of reach of computer systems.

Coindeal is licensed by FINCEN in the United States under the MSB registration number 31000146609933. It has also obtained a VQF license from FINMA in Switzerland under registration number 100610.

Furthermore, Coindeal applied for the MFSA License from Malta on 24 January 2020.

In terms of safety, Coindeal holds a separate bank account solely for accepting client funds in EURO. Coindeal claims that there is no risk of a hack on a user’s funds from either outside or within the exchange. The following steps are taken to ensure the safety of users’ funds:

  • The system is built on a microservices architecture. It is secured by the most sophisticated SSL standard which is integrated with Cloudflare security features.
  • Use IP Whitelist
  • A private key must be entered each time a user logs in.
  • The user has to enter the authorization data, which is limited to his knowledge, only for any action on Coindeal.
  • Phone and email confirmations for any deposit or withdrawal
  • AML/KYC verification process.
  • 2-Factor Authentication (2FA) set-up
  • Ninety percent of the user’s funds are kept in a multi-signature cold wallet.

Customer Support

Comments and online forums under the so-called exchange review are the best places to learn about active traders’ opinions on CoinDeal. Since its inception, CoinDeal has maintained a Facebook fan page where anyone can ask questions and learn about the viewpoints of other exchange users. CoinDeal is very active on social media, in general. The most up-to-date information is available by following the CoinDeal page on Telegram, YouTube, Reddit, or LinkedIn. It is especially important to keep an eye on CoinDeal’s YouTube channel, where it posts exciting tutorials.

Whenever CoinDeal organizes an airdrop or a contest, positive feedback from cryptocurrency exchange users appears. It is worth noting that, if your knowledge of CoinDeal is lacking or you encounter a problem, you can rely on the technical team for assistance. The exchange’s support is available 24 hours a day, seven days a week.

Affiliate Program

For active traders who want to earn passive income, an affiliate program has been created. Each verified client is given a unique link that they can use to recruit new members. The company pays a 20% bonus on the system fee.

As part of an affiliate program, users can also access the VIP club. For this reason, you must obtain 100 referrals. VIP members can choose from the following options:

  • 20% of the user fee + 20% of the 20% fee of the second level referrals
  • lower trading fees of 0.2 percent for makers and 0.3 percent for takers
  • individual specialist support
  • a special purpose newsletter containing information about all upcoming promotions and updates to the website.

Conclusion

Coindeal is a new exchange that debuted in 2018. In less than two years, the company has grown to be one of the most powerful in the industry, gaining popularity among users worldwide. The platform offers users convenient trading conditions as well as competitive rates.

However, trading is a high-risk activity. Beginner traders often overestimate their abilities and possible losses. As a result, before registering, you can carefully read the relevant documentation on the website. In comparison to other platforms, Coindeal is actually looking great.

Coindeal Exchange Rating
Conclusion
Read our Coindeal review and learn why we recommend this exchange for online trading and why it is not a scam, learn all you need to know in this Coindeal review before you sign up with the exchange.
Account Types
8.9
Trading Speed
9.3
Customer Service
9.1
Safety
9.2
9.1

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Shelly Melancon (Switzerland)

Shelly is a cryptocurrency enthusiast from Switzerland, she bought her first crypto in 2015 when it was way less popular then it is today and since 2017 she has been writing about cryptocurrency for online news portals. Shelly is the newest addition to the Tokenhell team, she writes mostly news and reviews related articles , stay tuned to her posts to stay up to date with the crypto world.

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