The Complete Guide to the CoinDeal Exchange

• History
• Founders
• The CoinDeal Exchange
• User Registration
• Depositing and Withdrawing
• Trading
• Other Trading Options
• Fee Structure
• API Keys
• Mobile Applications
• Security
• Token Listing
• Customer Service
• Regulatory Compliance
• Referral
• Conclusion

CoinDeal is a top-rated cryptocurrency exchange based in Malta. The company was created by Verified Trading Solutions Ltd. in March 2018 and has grown to become one of the most sought-after exchanges in the world within a short period. The company focuses on being one of the frontline innovators in the crypto industry by setting a new course for globally licensed and legally compliant exchanges. CoinDeal offers a safe, fast, and user-friendly platform for its users. In addition, users can trade a wide range of crypto-to-fiat and crypto-to-crypto assets on the exchange.

The exchange is running a business that offers both existing and new customers access to an intuitive interface. CoinDeal also offers a combination of groundbreaking technical tools and features that help investors trade conveniently. The CoinDeal exchange has obtained the VQF and FinCEN licenses from Swiss and US regulators, respectively. This allows them to provide their services legally to users in the United States and other countries worldwide. On the other hand, there are countries in which CoinDeal cannot operate because of certain regulatory constraints.

Currently, CoinDeal has about 50 trading pairs listed on its platform. CoinMarketCap data also indicates that the exchange has a 24-hour trading volume of $8,272,291, placing it at the 100^th position in the global market.

History

At the moment, the company’s history is unknown as nothing can be found about it.

Founders

The brains behind the CoinDeal exchange are Adam Bicz, Kajetan Maćkowiak, and Alex Strześniewski. The trio has built an experienced team of crypto enthusiasts who have deep interests and knowledge of blockchain technology. Currently, Bicz serves as the CEO, whereas Maćkowiak and Strześniewski are the CMO and COO, respectively.

Adam Bicz

Bicz is a skilled programmer with an interest in blockchain and cryptocurrencies. He is also the chief programmer and head of the CoinDeal team. On top of all this, Adam is the creator and a major stakeholder in other projects, including the Paycoiner, CodeArena, and BuyCoinNow payment gateways.

His wealth of experience was obtained by working in many tech companies and projects such as:

• Replays.pl: Founder and Programmer. August 2003 to January 2010 (six years, six months).
• AD & VISION: March 2008 to January 2011 (two years, eleven months).
• FunEnglish LLC: December 2010 to April 2012 (one year, five months).
• eu (+Englishtests) Mobile App: Co-Founder. December 2010 to April 2013 (two years, five months).
• Lingly: Co-Founder and Head of IT. February 2014 to July 2014 (six Months).
• Funmedia SP: IT Project Manager. April 2012 to September 2016 (four years, six months).
• CodeArena: Co-Founder. July 2014 to Present.
• com: CEO. December 2016 to Present.
• Verified Solutions: Co-Founder and Chief Technical Officer. May 2017 to Present.
• BuyCoinNow: Co-Founder. June 2017 to Present.
• CoinDeal: CEO and Co-Founder. January 2018 to Present.

Kajetan Maćkowiak

Maćkowiak is an expert in sales, marketing strategy, business development, management, and investments. He has vast experience in the crypto space and is a co-founder and investor in various IT projects, including Paycoiner and BuyCoinNow. Kajetan's major role in CoinDeal is promotion and marketing.

His other professional experiences include:

• Acapulco Wroclaw Basketball Club: Founder and CEO. July 2005 to December 2008 (three years, six months).
• Stamford Plaza Double Bays: Marketing and Event Assistant Manager. December 2006 to June 2007. (seven months).
• Golf24 Group Ltd.: Marketing and Event Manager. 2006 – 2009. (three years).
• ACTIVEO Ltd.: Co-Founder and Business Development Director. 2010 – 2012. (two years).
• Sprzedajemy.pl: Director of Sales and Marketing. 2012 – 2013 (one year).
• Narzedzia24.pl: Co-Founder and Business Development Director. December 2013 to September 2015. (one year, ten months).
• The World Games 2017 Wroclaw: Marketing and Sponsoring Coordinator. October 2015 to July 2017 (one year, ten months).
• Sendingo Sp: Co-Founder. November 2016 to Present.
• MoreFromIT.com: Co-Founder. December 2016 to Present.
• Verified Solutions: Co-Founder. June 2017 to Present.
• Blockchain House: Co-Founder. October 2017 to Present.
• Gwardia Wrocław: July 2019 to Present.
• CoinDeal: Co-Founder and Chief Marketing Officer. January 2018 to Present.

Alex Strześniewski

Strześniewski is responsible for executing decisions in the company. He oversees the day-to-day running of the exchange and finds the most beneficial partnerships for CoinDeal. Alex was also a blockchain and cryptocurrency consultant for private investors.

Other industry experiences acquired by Alex Strześniewski are:

• Radio Kolor: Music Producer. September 2011 to April 2014 (two years, eight months).
• Impact Media: Deputy Director and Head of Audio. April 2014 to February 2018 (three years, ten months).
• FMCG Company: Blockchain Consultant. February 2018 to September 2018. (eight months).
• SideChain Podcast: Creator and Host. October 2019 to Present.
• CoinDeal: Co-Founder and Chief Operating Officer. September 2018 to Present.

The Coin Deal Exchange

CoinDeal is a Malta-based cryptocurrency exchange launched in 2018. Since then, the exchange has become remarkably popular in the crypto space irrespective of its relatively new presence.

The company’s goal is to create an innovative technology that functions in the financial sector as well as other industries worldwide. The Coindeal exchange also offers about 50 cryptocurrency and fiat trading pairs, making it ideal for even amateur traders.

CoinDeal takes pride in its ability to innovate, as well as its transparency, and security. The exchange was co-founded by Adam Bicz, Kajetan Maćkowiak, and Alex Strześniewski, who are experienced in the crypto space, having worked for other established brands and projects. Due to a strong belief in transparency, a wealth of information about the founders can be found on the website and the Internet. CoinDeal’s culture of transparency creates a high level of trust between the platform and its users.

One thing that stands out on this exchange is its high-end security features such as IP Whitelisting, SSL protection, Cloudflare security, cold storage, Two-Factor Authentication, and KYC verification. These tools are deployed to ensure that users can conduct transactions on the website without fear of malicious attacks.

The exchange also offers reasonable maker and taker fees. In addition to this, CoinDeal has a customer support team that works tirelessly to ensure that it caters to every user's needs. To bridge every communication gap, CoinDeal supports eight languages, including English, German, Polish, Spanish, Chinese, Russian, Korean, and Vietnamese.

The CoinDeal exchange is registered with FinCEN and has obtained the VQF license, meaning that it is properly regulated. The exchange owns the CDL Token, which is traded on the platform and other exchanges. The CoinDeal exchange also allows private developers to list their tokens on the website. This is done via a voting system, meaning that every listed cryptocurrency has to be approved by the users through a voting process. An affiliate program is also set up to reward users for referring prospects to the website. Here, users stand a chance of earning about 20% to 50% commission when they refer people to the trading.

In summary, the key features of CoinDeal include:

• Multiple Trading Assets: CoinDeal consistently lists new cryptocurrencies based on users’ feedback.
• Native SegWit Address Support: In a bid to stand out against other exchanges, CoinDeal allows users to deposit funds using the Bech32 address. The exchange is a major contributor in the lightning Bitcoin network, which ensures that transactions are faster and safer.
• Fully Operational: The platform is always active, and users are sure of accessing their funds anytime. Also, CoinDeal ensures that its users are always updated with current profitable market opportunities.
• Extreme Transparency: Users worry less about a lack of funds for payouts because the exchange secures funds by having a contribution in cryptocurrencies. In addition to this, users can check the overall balance of the exchange whenever they wish.
• Real-Time Auditing: The exchange runs frequent checks to ensure that there is proper accountability. This reduces the risk of double funds as well as fraudulent activities.
• Corporate Accounts: Companies can open corporate accounts and enjoy the unique features and benefits these provide.
• 24/7 Customer Support: CoinDeal has a team of professionals who are willing to answer customers’ enquiries.

CoinDeal Trading Interface

The basic trading interface on the exchange comprises a black background and a simple trading chart located in the centre. The chart features basic tools, which helps users to change their trading time frame and chart type. Users can see the order execution panel on the left-hand side of the chart. This is where traders input their trade parameters before executing. In addition to this, users can view the current market price, the 24-hour high and low prices, and the average daily trading volume of digital assets.

On the top left corner, a user can avail himself of the Choose Market drop-down menu to select the cryptocurrency pair he wishes to trade. The market history window can be found on the right-hand side of the chart. Here, users can predict the possible market sentiment by viewing the recent trades taken by other investors. The order book is also located directly below the trading chart. Further, the exchange’s trading interface offers open orders and order history panels, which traders can use to their advantage to monitor trades as well as document closed trades.

Clicking on the Basic/Pro button at the top-right corner of the screen takes the trader to an advanced Trading View interface. Here, users can avail themselves of advanced trading tools, thereby making market analysis to become a walk in the park.

The timeframe tool on this interface is also more sophisticated as traders have more options to explore. Another outstanding feature here is the indicator tool, which helps traders to discover the direction of the market in no time. Like the basic interface, the Trading View interface also has an order execution panel, order book, and market history. This section also shows the information of the digital asset right above the chart.

User Registration

The registration process on CoinDeal is simple and straightforward. Like every other exchange, prospect traders must register on CoinDeal before they are allowed to conduct trading activities on the platform. The CoinDeal exchange also uses this as an avenue to collect and verify customers’ information. With this, they can monitor traders’ activities and check fraudulent transactions.

To sign up on the exchange, users must visit the official CoinDeal website. On the home page, they can find the Register Now button on the top-right corner of the page, and clicking on it initiates the registration process.

The next page presents the user with three data fields, and he is required to input his email address, password, and country of issued ID. The password must contain at least eight characters, including a minimum of one special character, uppercase and lowercase letters and one digit. Next, he has to check three boxes to agree to the terms of use, receive marketing information, and accept the terms of the risk disclosure document. After that, he has to pass the captcha test before finally clicking on Create Account.

The exchange will send an activation link to the user via email, which he must click to continue with the registration process.

Clicking the link will take the user to a login page. He will be asked to input his email and password. Then, he must click on the Log In button to move to the next phase.

The user will be taken to a new page where he will have to choose the account type he wishes to trade next. Here, he can choose either a personal account or a corporate account. After that, the user must complete four data fields, including his first name, last name, country code, and phone number. Upon completion, the user must click on the Submit button to continue.

An activation code will be sent to the user’s mobile number to verify its legitimacy. Once he receives it, he must input it in the data field provided and click on Submit to continue.

Next up is the Two-Factor Authentication page. Here, the user will have to download the Google Authenticator app and input the code provided, or scan the QR code. Then, he is required to input the OTP generated on the Google Authenticator app and click on the Submit button to proceed to the next step.

The user will be taken to the next page, where he will be asked to give some additional information about himself. There are sixteen mandatory data fields on this page, including the user's address, date of birth, and identity document details. Upon completion, the user must check a box to confirm that he provided the exchange with the correct information. When all the fields are completed, the user must finally click on Submit to complete the registration process.

The exchange also offers a Corporate Account option for investors who wish to trade with their business names and funds. To create a corporate account, the user must select the corporate account option at the beginning of the registration process. Then, they can proceed to input the company's information and the representative's personal information.

Users must also note that they cannot open a personal and corporate account using one ID.

CoinDeal Identity Verification and KYC Levels

In line with the new KYC and AML guidelines, CoinDeal created a three-level verification process for all its customers. Therefore, every user must verify his identity before he is allowed to trade on the exchange. As the trader keeps climbing the verification ladder, he will unlock more benefits and possibilities on the CoinDeal exchange.

To verify an account, the user must go to the drop-down menu bearing his name and click on Profile. This action takes the trader to the profile and verification page. Next, he must click on the Start Verification button to initiate the Level 1 verification process.

Personal Account Verification

Tier 1 (Starter): This grants the user access to the basic tools on the exchange. Here, the user is asked to go through national identity verification and provide CoinDeal with information regarding his residential address. The CoinDeal exchange will also demand a video verification to confirm that the uploaded ID is real. When a user completes this level, he can deposit, withdraw, and trade crypto assets only. On top of that, he can make unlimited crypto deposits. However, his daily and monthly crypto withdrawal limits will be set at $1,000 and $20,000, respectively.

Tier 2 (Intermediate): To advance to this level, the trader is expected to fill out an AML questionnaire uploaded on the platform. He will also be asked to submit some documents, including a utility bill and a bank statement issued under his name and address. The user must be certain that the information on the uploaded documents corresponds with the ones on his profile. Likewise, the documents submitted by the user must not be older than three months. Upon completion of this level, the trader can deposit, withdraw, and trade fiat assets. Also, his funding limits will be increased.

Tier 3 (Advanced): CoinDeal created this level with its most active traders in mind. Users on this level can avail themselves of the unlimited potentials and benefits of trading on the CoinDeal exchange. Here, the user has to contact the support team for video verification. In addition to this, he is required to provide details about his source of funds and proof of income.

Below is a table that summarises the various benefits enjoyed on each verification level:

Corporate Account Verification

This verification process is a bit different. Before choosing to trade with a corporate account, the trader must make sure that he can provide the necessary documents needed by the platform. To verify a corporate account, the investor must upload documents including the company’s shareholder statement, names of shareholders, proof of address and identity verification documents of the company’s representatives, and proof of the company's address.

It is worth noting that the documents mentioned above must have an issuance date and should be less than three months old. Plus, documents written in the supported languages of the exchange will be accepted.

How to Ensure a Smooth Verification Process

To have a hassle-free verification process, users must abide by the following rules:

• The user must always use an appropriate legal document issued by the authorities in his country
• Users need to scan both sides of their ID card
• Users must ensure that they send only clear images to CoinDeal
• Images must be in .png, .jpg and .jpeg formats
• The user’s face is the most important part of the video verification; therefore, he must make sure that it is not obscured in any way

Depositing and Withdrawing

Before trading on the exchange, users must deposit into their CoinDeal account. CoinDeal offers an array of deposit and withdrawal options. Investors are allowed to deposit with fiats and cryptocurrencies. These options are pretty straightforward, and don’t take much time. This section will shed more light on the various deposit and withdrawal processes on CoinDeal:

Fiat Deposit

The processes involved in making deposits with Euro, British Pound, Polish Zloty, and Swiss Franc slightly differs from that of the US Dollar.

To make USD deposits, the trader must click on the Wallets button at the top-right corner of his screen. Next, he must input the amount and click on Deposit. He will be taken to the page of the payment intermediary. CoinDeal uses Epay as the intermediary for USD deposits, and any user who wants to use this method must have an Epay account. Then, the user will be asked to log in to his Epay account to confirm his payment.

To deposit other fiat currencies on the exchange, the user must click on the Wallets button at the top-right corner of the interface. Next, he should select the currency he wishes to deposit by clicking on the Plus icon close to the appropriate wallet. On the next page, the trader will be presented with the transaction information. This includes their CoinDeal account number, their SWIFT code, recipient’s name, recipient’s title, and wire transfer title. To ensure a hitch-free transfer, users must make sure that these details are keyed in correctly. CoinDeal takes about one-to-three working days to confirm transactions.

It is worth noting that the trader’s bank account information must tally with the information submitted to CoinDeal. If the information does not correspond, CoinDeal will cancel the transaction and revert the funds to the user’s bank account within 30 days.

Cryptocurrency Deposit

To deposit tokens, the user should click on the Wallets button and the next page will show him the various deposit options available. Next, he has to select the cryptocurrency he wants to deposit by clicking the Plus icon. Then, he can scan the QR code or copy the wallet address to pay from his crypto wallet.

The CoinDeal exchange also offers an option of purchasing crypto with a credit or debit card. Here, the trader must input the fiat amount he wishes to purchase, and it will be converted to the cryptocurrency equivalent. After that, he should click on Buy With Credit Card. Next, he will be taken to the BuyCoinNow payment gateway, where he will be required to complete some data fields. The user must input his email address and the recipient's wallet address. Then, he needs to pass the captcha test and check a box to agree to the payment terms, after which he should click on Buy Bitcoins Now. On the next page, he must fill in his card details and billing address and click on Pay Now to complete the process.

The trader must have a BuyCoinNow account for the deposit process to be successful. If he hasn’t registered yet, he will be required to do so while making the deposit. CoinDeal approves token deposits within three hours.

Fiat Withdrawal

The fiat withdrawal process on the CoinDeal exchange is similar to the deposit process. The user must click on Wallets to be taken to the next window. Here, he can pick the currency he wishes to withdraw by clicking on the Minus icon. Next, he has to fill in his bank account details on the next page, including the amount, his first and last name, IBAN code, SWIFT code, description, and OTP. Then, he must click on Withdraw to proceed.

Cryptocurrency Withdrawal

To withdraw tokens on the exchange, the user should click on Wallets at the interface's top-right corner. He can select his chosen cryptocurrency by clicking on the Minus icon beside it. After that, he will be taken to the next page to fill in his details. For an investor to initiate a transaction on the CoinDeal exchange, he needs to input the token amount, recipient's wallet address, description, and one-time password. Next, he should click on Withdraw to proceed to the next phase. The platform will send a confirmation link to the user’s email. Once he clicks the link, CoinDeal will authorise the transaction. The CoinDeal team confirms token withdrawals within 30 minutes.

Trading

CoinDeal makes it mandatory for every trader to verify his or her identity before trading can begin. The CoinDeal exchange offers 50 cryptocurrency trading pairs, giving traders an array of options to increase their wealth. Plus, the trading interface is intuitive and provides the essential tools for traders to conduct analysis and make informed market decisions.

To trade on CoinDeal, the user has to log in to his account and click on the Markets button at the top corner of the interface. Next, he must click on the pair of his choice, which takes him to the trading window. He can then input the trade parameters in any of the buy or sell order execution panels, after which he can execute the trade. Traders must note that they can only execute market orders on the CoinDeal exchange.

Market Order

A market order is one that executes a trade instantly. With this order type, there is a guarantee that an investor’s order will be filled. However, there’s no guarantee on the execution price. In most cases, the order will be executed at, or close to, the bid or ask price. Therefore, investors must bear in mind that the last-traded price may not be the price at which an order will be filled. For instance, if a trader uses the market order type to buy 50 BTC, CoinDeal will execute the trade at whatever price the digital asset is trading at when the order is filled.

Other Trading Options

Although spot trading is the major trading option on the exchange, CoinDeal also offers other unique options, giving investors more money-making opportunities. Other options that traders can explore are listed and explained below.

Staking

CoinDeal created this opportunity for CDL token holders interested in generating more wealth through staking. Investors can avail themselves of this option to store tokens by blocking coins in their wallet for a given period to earn some interest. Here, traders will earn commissions depending on their investment amount and the duration of staking. Therefore, the larger the amount, and the longer the length of time, the higher the returns. If an investor blocks his funds for as little as three days, he will be awarded a starter bonus of 30 CDL. CoinDeal pays out commissions in BTC, USDT, and CDL, depending on the user's choice. Also, earnings can be as high as 11% per annum.

Before a user is allowed to stake on the CoinDeal exchange, he must have a minimum of 1000 CDL in his wallet. If he has the required amount, he must block the funds for at least 72 hours. It is worth noting that the investor will have no access to the tokens within this period. After that, he can unblock the coins at any given time. Whenever the investor finally unblocks the coins, a crypto reward will be sent to his wallet instantly.

The maximum duration for staking is 12 months. Earnings are paid out once it elapses, and the investor can stake the funds again if he wishes. In addition to this, the percentage of commission earned differs, depending on the cryptocurrency chosen by the user. CoinDeal also makes it easy for prospects to calculate their earnings before staking.

In addition to all this, users need not worry about the current price of the token on the market. Even if the price declines rapidly, the user still receives the earnings calculated at the start. Finally, users do not pay any fees from the rewards they earn from staking.

OTC (Over The Counter Market)

This option is ideal for traders who wish to take large trading positions with the certainty that the transaction will not lead to a spike in the coin price, thereby exposing other traders to losses. OTC offers investors an opportunity to be in direct contact with CoinDeal rather than making an order and waiting for it to be filled. In essence, the price at which tokens will be bought or sold is determined by the exchange. These types of trades provide the user with more privacy, certainty, and liquidity. This trading option is designed only for the premium members or investors who hold over 20,000 CDL tokens. The CoinDeal exchange executes OTC trades within minutes and does not charge any fees for this service. Plus, the only pairs allowed for OTC trading are BTC/USD and BTC/EUR, and the prices are competitive.

Fee Structure

CoinDeal charges transaction fees for various activities carried out by traders on the exchange. These fees are competitive and in accordance with industry standards. We’ll shed more light on the different transaction fees on CoinDeal below:

Trading Fee

The exchange's standard trading fees are 0.39% and 0.29% for the takers and makers, respectively. When a user’s trade gets filled immediately at the market price, he is considered a taker, meaning that he will pay a fee ranging from 0.39% to 0.125%. On the other hand, when a trader’s order is not filled instantly, it will be placed on the order book. If another trader places a matching order, the first trader will be considered the maker and will pay a fee between 0.29% and 0.05%. As a trader’s level increases on the platform, his trading fees will keep reducing.

Also, when a trader’s order is partially filled, he will pay a taker fee for the matched portion. The CoinDeal exchange will move the remainder to the order book and treat it as a maker order when matched.

There is a fee structure mapped out for CDL holders and the table below gives a summary:

Deposit and Withdrawal Fees

The exchange charges a small fee for some deposit and withdrawal options. These fees differ depending on the currency and payment option. CoinDeal does not charge any deposit fees for cryptocurrencies; however, some fiat deposit options attract transaction fees.

The table below shows the various deposit and withdrawal options with the applicable fees:

To gain more insight, visit the fees and limits page on CoinDeal.

Listing Fee

Independent token owners have to pay a listing fee to add their cryptocurrencies to the exchange. Even with the listing fee, CoinDeal doesn’t accept all tokens in a bid to ensure that the functionality and vision of the crypto are not compromised. Before a token can be listed on the exchange, it must comply with the security guidelines of CoinDeal.

Vote Listing Fee

Currently, the exchange allows its customers to supply their suggestions on which tokens they wish to trade on the exchange. This voting program happens monthly, but the exchange charges a non-refundable fee of 0.2 BTC for a coin to be added to the voting process. This is a one-time fee and is imposed to prevent traders from spamming the website.

Inactivity Fee

When a trader has some amount of money in his balance and fails to log in for more than six months, he will be charged an inactivity fee. To prevent this, traders are advised to log in at least once every six months. The inactivity fee will never bring a trader’s balance to negative values. Also, this fee is charged at $9 per month, plus 0.79% of deposited funds. Before the fee is charged, the CoinDeal team will send an email a month in advance to notify the trader of the impending transaction.

Geographies Served

In compliance with international regulations and policies, the CoinDeal exchange does not open accounts or process transactions for residents and citizens of certain countries prohibited by these sanctions. CoinDeal bars users in these countries because of various criteria such as corruption, money laundering, and terrorism. The affected countries are:

Afghanistan, Barbados, Bahamas, Burundi, Botswana, Chad, Central African Republic, Cambodia, Congo, Democratic Republic of Congo, Eritrea, Equatorial Guinea, Ethiopia, Guinea, Guyana, Ghana, Guinea Bissau, Haiti, Iraq, Iran, Jamaica, North Korea, Lebanon, Laos, Libya, Mongolia, Myanmar, Mali, Nicaragua, Panama, Pakistan, Sri Lanka, South Sudan, Syria, Sudan, Somalia, Tunisia, Trinidad and Tobago, Turkmenistan, Uganda, Venezuela, Vanuatu, Yemen, and Zimbabwe.

API Keys

The CoinDeal exchange provides its customers with API keys that can be connected to applications. With the help of this tool, traders can deposit, withdraw, trade, monitor open trades, and check trading history. The exchange has developed different API keys to cover the various functions. However, the overall function of these keys is to give users a better trading experience.

To create an API key, the user should go to the drop-down menu bearing his or her name and click on Profile. Next, he should click on the API option on the sidebar. On the next page, the API window will be displayed, and he should simply click on the Create New Pair Of Keys button to create his API.

Mobile Applications

Like most prominent exchanges, CoinDeal has developed a mobile application to help investors trade easily. Since it was designed for mobility, the mobile application increases the functionality of the CoinDeal exchange. Plus, the app is every bit as efficient and user-friendly as the desktop application. CoinDeal’s mobile application runs on both iOS and Android devices. The features offered by the mobile application include:

• Platform security
• Simple sign-up process
• A plethora of trading pairs to choose from
• Multi-device support
• 24/7 customer support

Users can download the Android-based mobile app on Google Play Store. Currently, the app has an average rating of 4.0 out of 5 from 155 reviews. It has been downloaded over 10,000 times, and its last update was in April 2020.

There is also an iOS mobile app, which can be downloaded on Apple Store. The app is designed to be compatible with iPhone, iPad, and iPod touch interfaces. It also has a poor rating, although the review came from just one user.

Security

CoinDeal makes it a priority to keep its customers safe from malicious attacks. That’s why the exchange deploys the best security tools on its website. To date, the CoinDeal exchange has not experienced a single hack or breach. The security features on the website include:

Two-Factor Authentication

Every trader who wishes to log in or withdraw funds is required to pass through the 2FA process. Without 2FA, hackers and cybercriminals cannot have access to a trader’s account with stolen credentials. Since CoinDeal places strong focus on security, it is mandatory for users to set up the Two-Factor Authentication feature before they can trade on the exchange.

Cold Storage Wallet

Considering the fact that major exchanges manage large amounts of digital assets, it is essential to have a strong cold storage wallet. This wallet features private keys, which are generated offline. There is also a strong policy created to prevent unauthorised personnel from accessing the funds. To ensure the security of funds, the exchange keeps only about 5 – 10% of invested and traded funds in the system. The remainder is stored offline and can be accessed when the need arises. But traders can rest assured that CoinDeal makes sure there are enough funds in its hot wallet to quickly process deposits and withdrawals.

KYC/AML Verification Process

Many exchanges allow their customers to trade crypto before going through a verification process. However, traders on CoinDeal must go through full KYC/AML verification before they are allowed to perform transactions on the exchange. Currently, the company uses the services of Jumio – one of the best verification platforms in the crypto industry. Nonetheless, CoinDeal is looking to develop a better KYC/AML solution soon.

IP Whitelist

This is another outstanding security feature on the CoinDeal exchange. It is used to prevent unauthorised access to a user's account from an undesignated IP address. Therefore, anytime a trader attempts to log in to his account with a different IP address, this action will be disallowed. Then, the exchange will send a confirmation code to the user's email to confirm the login attempt. Once the user confirms it, CoinDeal adds the new IP address to the whitelist and connects it to the user’s account. This allows him to log in from the same IP address next time without hassle.

Listing On CoinDeal

The company allows private coin owners to list their tokens on the exchange. Firstly, the token owner will have to send a proposal to the CoinDeal exchange via email on add@coindeal.com. It will take a while for the application to be processed, after which the exchange will contact the owner if his coin is viable. Next, both parties will discuss the terms of the listing, and the coin will be put through a voting process. Here, traders on CoinDeal will be given an opportunity to decide whether the coin is worthy of being listed on the exchange. If the token scales through the voting stage, it will be listed on the website. However, if the users do not vote in its favour, CoinDeal will not list the token on the exchange.

Voting

The exchange introduced the voting process due to its resolve to run a user-inclusive and transparent platform. During the exchange’s early days, traders could only choose from the list of coins on the website. However, new rules were introduced at the start of 2020. To further meet the needs of its customers, the exchange now allows them to nominate the tokens that they would like to see in the voting market.

The first step is for users to nominate their desired coin, and this is usually done on Twitter. After two weeks, the nomination process closes, and CoinDeal will select the top-10 viable crypto projects and put them up for voting. When the voting begins, users will be entitled to vote for the cryptocurrency of their choice. Users are even awarded CDL token bonuses when they cast their votes. Upon conclusion of the voting process, the winning token will be listed on the website.

CoinDeal Token (CDL)

CDL is an internal token developed by CoinDeal to give its traders a better experience while trading on the exchange. It was launched in 2019 and has grown to become popular in the crypto space. The CoinDeal token runs on the EOS blockchain, thereby reducing transaction time and fees for traders. Currently, EOS can process over 3,000 transactions per second as against Ethereum blockchain, which can handle only 15 transactions per second. Other benefits of CDL include:

• Reduced trading fees
• Advanced trading features
• Social trading platform access
• Customer support priority
• Access to voting for new tokens
• Staking to further decrease trading fees

Customer Service

As mentioned earlier, the exchange places a high priority on its customers’ satisfaction. To this effect, the CoinDeal support team works ‘round the clock to answer customers' enquiries promptly. The team consists of professionals who are willing to help traders with a wide range of matters. There is also a detailed FAQ page designed to provide guidance for users. The FAQ page covers various topics, including account setup, deposit and withdrawal, security and technical issues. Another feature is the support ticket created to help customers send a direct message to the CoinDeal team. Plus, the exchange offers its live chat customer support in eight languages, including English, German, Polish, Spanish, Chinese, Russian, Korean, and Vietnamese.

Regulatory Compliance

CoinDeal is a well-regulated exchange; hence, it ensures that its customers adhere to all the policies of the platform. The exchange has a detailed Terms of Use Agreement, which every user must accept during the sign-up process. This agreement states the guidelines for every activity conducted on the exchange. Plus, the Privacy Policy states how the exchange will collect and store users’ data. It also enlightens the users on the conditions under which the exchange can access and share their data with third parties such as law enforcement agencies and financial institutions. The CoinDeal exchange has obtained the VQF, FinCEN, and MFSA licenses issued by regulatory bodies in Switzerland, the US, and Malta, respectively.

Referral

In addition to vying to become the most successful and intuitive exchange, the platform is also moving to create an expansive customer base. As a result, the CoinDeal exchange offers one of the most lucrative affiliate programs in the market. Here, affiliates can invite other people to trade on the exchange. As compensation, CoinDeal rewards them with 20% of their referrals’ trading fees.

Conclusion

CoinDeal is among the new players in the crypto industry; however, the exchange has become a force to be reckoned with. The exchange offers a user-friendly interface with advanced tools to help traders make informed market decisions. Also, users can avail themselves of the various trading options to build wealth. Plus, the mobile application boosts the prestige of the exchange by giving users the flexibility to trade on the go. Finally, transparency and user-inclusiveness have been the driving force of the exchange, making it one of the most desirable platforms out there for crypto investors.

Crypto investing is risky; therefore, investors are advised to do so at their own risk. Traders should never engage in a trade unless they understand the nature of the transaction as well as the risks involved. If an investor doesn’t understand these risks, it is recommended that he seeks the advice of a financial advisor. Also, gains made from trading may be subject to tax, depending on the investor’s country of residence.