The cryptocurrency market is relatively new but its gospel of offering vast potential gains and investment opportunities has reached the corners of the world. What we now have are investors and traders venturing into the market to make huge returns. But to be able to do that, the need for a crypto exchange platform such as the Decoin exchange becomes vital.
We’ll be making the Decoin exchange review. This review is as honest as it gets and we’ll be evaluating the basic features, products, services, and all-around operations of the exchange platform.
As a new trader coming into the crypto market, it is important that you choose a decent exchange platform if you desire to be a very successful trader. This is because a decent exchange fosters the growth and development of traders by offering decent trading services, and necessary support needed in the crypto market.
As you may expect, there are always bad eggs in an industry and this also applies to the crypto industry. In the crypto industry, not all exchanges are decent enough to cater to the needs of traders while some are even outright scams trying to rip investors off their money.
To be able to then separate these exchanges from decent ones, the need to evaluate the basic features of exchanges becomes necessary. To this end, we will be evaluating the basic features of one of the prominent crypto exchanges in the market; the Decoin exchange.
|Security||Hot and Cold Wallet, Two-Factor Authentication, DDoS attacks Protection|
|Withdrawal Fee||0.0002 BTC|
|Trading platform||Web-based platform and Mobile App|
|Payment method||Crypto transfer|
|Trading assets||Ethereum, Litecoin, Bitcoin, Ripple, Litecoin, Monero, and lots more|
The Decoin exchange platform was founded in 2017 having been licensed and registered under the authority of the Republic of Seychelles. The crypto exchange platform registers as DTEP Technologies Ltd and operates with registration number 222712.
Decoin is also fully regulated and licensed within the European Union after securing the necessary operating licenses and documentation from the Estonian authorities.
The Decoin exchange platform was developed and built by a team of financial experts, experienced traders, and fintech professionals which is led by Nadav Moshe (CTO and founder). Decoin aims at offering one of the most innovative and transparent Pro social Trading to investors and traders all over the world.
The exchange platform also aims at providing the best security features to traders and investors which has seen it integrate the latest and advanced security protocols within its security system. The Decoin exchange offers a straightforward and simple user-interface for newbie traders and more advanced features for experienced traders.
As expected of a crypto exchange platform, Decoin allows its customers to buy, sell and store various digital coins such as USDT, ETH, OMG, BTC, NEO, ADA XRP, and many more. Furthermore, to offer smooth and excellent trading services to traders, Decoin offers its services in 6 different languages to eliminate the problem of the language barrier.
Looking at the Decoin exchange platform from a distance, it seems decent enough to cater to the trading needs and requirements of many traders in the crypto market. However, let’s have a closer look into its features and benefits to see if Decoin is truly decent as it portrays itself.
Products and Services offered by Decoin
- D-TEP Credit Card
The Decoin exchange platform offers its clients the D-TEP credit card to tackle the challenge of investors not being able to spend digital coins. The credit card allows crypto enthusiasts and investors to use their crypto assets to offset bills and normal spending.
The Decoin exchange is among the very first exchanges to come up with this initiative allowing investors to spend their digital currency anywhere and at any time. The goal is to allow all its customers to enjoy and fully benefit from the profits they have earned and accumulated during their trades.
Furthermore, cardholders are entitled to various rebates and other incentives and discounts at entertainment arenas, specific stores, and outlets
- D-TEP Token
The Decoin exchange platform similar to many modern exchanges developed its utility token known as D-TEP. The token was created using the Pos consensus algorithm which is built on a separate and independently Blockchain network.
For clients holding the D-TEP token, Decoin offers a staking percentage of 6.2% annually. Apart from that, coin holders also qualify for a discount on trading fees and are also eligible to receive the D-TEP Credit Card. The maximum supply for the D-TEP Token is set at 140 million.
Decoin is looking out for its clients and hoping to create an enabling crypto atmosphere for traders and investors irrespective of their trading experience developed a pro-social trading platform known as Dtrade.
The Dtrade trading platform serves as an avenue for all traders to come together and trade with experienced traders, learning their best trading techniques both live and online. Dtrade is primarily aimed at newbie investors to give them a quick start in the crypto market by learning and copy various trading skills from experienced traders
These newbie investors also have the opportunity to showcase their improved skills and put them to scrutiny to better improve such skills. With this social trading, investors get to choose who they follow and how much they want to learn. As for experienced traders, they get to learn more exposure and meet new audiences they can also learn from.
The Dtrade trading platform is very easy to use, intuitive, innovative, and above all Social.
- Referral program
Asides from trading, the Decoin exchange platform offers a decent opportunity for its customers to make extra earnings through its referral program. However, the primary goal of this referral program is to expand and build the Decoin crypto community across the continent.
For investors interested in participating in the referral program, they get to earn a referral percentage between 36% and 70% when they refer their family or friends to join the Decoin community.
Upon registration, each customer is assigned a referral link to use in inviting more traders and investors. Clients’ can then share these links on various social media platforms such as Twitter, Facebook, Instagram, and so on with the proposal of inviting friends.
A successful invitation sees the referee earn a referral bonus after the referred must have successfully registered. Also, additional bonuses are earned every time the referred completes an order or from the transaction fee. If the referred purchases less than 5000 D-TEP, the referee earns a referral bonus of 35%. On the other hand, If the referred purchases more than 5000 D-TEP, the referee earns a referral bonus of 70%.
The referral bonus to be earned is unlimited, hence clients can invite as many friends as possible. All referral bonus to be earned is deposited into clients’ crypto wallet in the same digital coin as the referred traded-in.
Safety and security are of topmost concern and priority to investors and traders in the crypto market. This has become so, as a result of the frequent hacks and cyberattacks that have transpired seeing many investors lose their investment funds as well as getting their personal data leaked.
Now, traders and investors are more conscious about their security and safety, not willing to compromise security for any other additional benefits or trading features. To this end, investors seek to make a trading partner out of exchanges that can guarantee and assure them the safety of their funds and personal information.
The Decoin exchange platform does well in providing adequate security and safety to its clients’ investments and personal sensitive data. The exchange platform also integrates some powerful technologies within its security system to protect itself against hacks.
The Decoin exchange platform in ensuring the overall safety of clients’ digital assets and data, has established some security protocols which include;
- Frequent change of IP address to prevent the website from being hijacked
- Employment and of additional server security procedures and precautions
- Limited access to an account from a certain IP address
- Constant synchronization of databases with fully encrypted backups compressed into achieves
- Proper documentation and analysis of login data to easily detect uncommon activities.
Apart from these protocols, Decoin offers more profound security measures to guarantee the safety of its clients and these include the use of;
Hot and Cold Wallets
The Decoin exchange platform stores about 97% of its client’s crypto assets in cold wallets located in offline locations. This is to ensure that in the situation where the exchange is hacked, clients’ funds are still secured offline.
On the other hand, the remaining 3% of the crypto asset is stored in hot wallets to ensure the smooth running of the exchange platform, ensuring traders and investors execute trades and request withdrawals. These 3% crypto assets are well ensured by the exchange platform in case of hacks. So clients are guaranteed to get back their investments in case it happens.
The management also constantly scrutinize the wallet, platform, and the entire ecosystem to enhance security and reduce risks of cyber attacks
Two-factor authentication (2FA)
Two-Factor Authentication is also an added security measure integrated with the Decoin security system offering an extra layer of security. The 2FA generally protects client’s withdrawals, logins, password reset, API keys generation.
With 2FA offering additional security, clients are protected against unauthorized third parties’ login even when their login credentials get compromised. This is possible as a 6-digit code is sent to every customer upon carrying out the above activities.
The Decoin exchange platform makes available Twilio and Google Authentication for clients who want to activate the 2FA.
DDoS attacks Protection
Considering how frequent DDOS attacks have been in the crypto market, Decoin has upped its game protecting its server bases against Distributed Denial of Service attacks. The management ensures that the overall trading operation is not interrupted nor halted by these attacks.
Very important feature traders and investors evaluate before choosing an exchange platform is the trading platform offered. This is because many investors believe that the trading platform is the most vital component of exchange and the reason is not far-fetched.
The trading platform is basically the software algorithm that controls and governs the entire trading activities of an exchange platform which includes trade execution, analysis of trade, use of various indicators and tools, and so on. What this translates to is that a bad trading platform equates to a bad trading experience which can also lead to loss of investments. And this is what many investors want to avoid hence the careful evaluation of trading platforms.
As important as the trading platform is, it is not expected that all exchanges offer exactly the same trading platform. Hence, each exchange offers a trading platform that differs in some aspects when compared to other exchanges. Although, these differences are usually in terms of interface, customization, design, theme, and so on.
Nevertheless, irrespective of the differences, it is understood that a decent trading platform should provide smooth navigation, excellent trading services, and a user-friendly interface to promote a tremendous trading experience for traders and investors.
In offering a decent trading platform, the Decoin exchange platform performs well as it offers a remarkable trading platform to its customers across the globe. The exchange platform offers an intuitive and very simple web-based platform that adequately meets the trading needs of both experienced traders and newbie investors.
The trading platform is designed to offer simple and quick buying and selling of various digital coins which shares the exchange’s revenue to its entire coin holders. At first glance on the trading platform, the trading view consists of the basic elements you would imagine to find on a crypto platform. It consists of different price chats, an order book, sell and buy-boxes, order history, and so on.
Commissions and Fees
Buying and selling digital coins in the crypto market isn’t free. Exchanges charge various fees and commissions on various transactions performed by traders and investors in the market and these apply with the Decoin exchange.
The fee structure employed by the Decoin exchange platform is volume-based which implies that the more the trading volume transacted, the lower the trading fee, and the higher clients move up in rank.
On the Decoin exchange platform, a deposit of funds attracts no fees whatsoever but every trade execution and withdrawals have specific fees accompanying each activity.
- Trading Fee
On each trade executed, a trading fee is charged and is divided into the makers fee and takers fee on the Decoin exchange platform. The maximum trading fee charged on every trade executed is 0.15% of the total order value. However, this fee charged reduces exponentially as clients move up in rank.
Also for clients who hold the DTE token, they get to enjoy a discount of 50% on trading fees whenever the token is used to pay the trading fee. It is also worth mentioning that the 0.15% trading fee charged by Decoin is very low and highly competitive in the crypto market.
- Withdrawal Fee
The withdrawal fee charged by the Decoin exchange platform is also quite low when compared to the industry’s average. The exchange charges a specific withdrawal fee for each digital coin withdrawn from the exchange platform. For every Bitcoin withdrawal, a withdrawal fee of 0.002 BTC is charged. For Ethereum, a withdrawal fee of 0.02 ETH, and for D-TEP, a withdrawal fee of 20DTEP.
Withdrawal and Deposit
After successful registration with an exchange platform, the next step involves the deposit of initial investment capital. With this deposit, investors can then have access to trade their preferred coins and make decent returns from them.
Next to deposit is withdrawal, as investors and traders concern themselves more on this aspect. Every investor in the crypto market wants to be assured that their investments and profits can be requested at any time without unnecessary delay.
To this end, many exchanges provide various payment methods to traders so they can best choose the payment method that best suits their situations. However, the Decoin exchange does not offer the much-needed flexibility when it comes to deposit and withdrawal of funds.
The Deco in exchange offers just one payment method which is the crypto transfer for the deposit and withdrawals of funds. Even though it offers just one payment method, it is highly effective and prompt ensuring clients withdraw and deposit their funds instantaneously.
Although with this payment method, newbie investors find it a little bit difficult to deposit their initial fund as they need to make use of an entry-level exchange.
Another feature to consider on an exchange platform is the customer support provided. Customer support is crucial in that traders need all the assistance they can get during trades most especially when unforeseen circumstances arise.
To this end, investors must choose an exchange platform that is ready to go the extra mile on their behalf to ensure that they have a smooth trading experience. For the Decoin exchange platform, it offers customer support 24 hours a day and 7 days a week.
It offers online support through a ticketed system, email support, and an FAQ section is also provided to answer commonly asked questions. Most importantly, the exchange provides support in multiple languages to eliminate the language barrier.
It’s apparent that the Decoin exchange platform is highly impressive and can cater to the trading needs of most traders in the crypto market. The discount and rebates it offers its customers are one of the attractive features it possesses.
However, its greatest competitive advantage lies in the commissions and fees it offers investors across the globe. In summary, the Decoin exchange platform is definitely a decent exchange platform to partner with.