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Sakete, Benin Republic
10 level
208 reviews
580 karma

Review on Coindeal by Temitope Babatunde

Coindeal Exchange, One Of The Very Few That Makes Their Team Known.

Coindeal exchange came into Crypto market in 2018 and it has a team lead by Kajetan Mackowiak. The exchange is a member of VQF which a Swiss organization that is responsible for quality assurance for companies that are into financial services. It's headquarter is in Switzerland but was legally registered in Malta.

The exchange avail the users the opportunity of dealing in various types of coins, by supporting so many of them and also allow fiat deposit and trading of fiat directly with crypto which makes it very good for new comers in the market. At least the following fiat currencies are available, EUR, USD, GBP, CHF, KRW, PLN and RUB.

To make the exchange available to many from many countries the website is translated into many languages like English, Chinese, Korean, German , Russian, Polish etc. The overview of the site is well arranged making it easier for newbies. Even some states from USA can use the exchange. The interface also is attractive. It has introduced SegWit to make the transfer of bitcoin faster.

Various forms of trading are available like spot trading, margin trading it even has OTC. It has a native token called CDL, which entitled the holders to some benefits on the exchange.

In terms of fees, there is no deposit fees at the exchange level but banks do charge certain fees for fiat deposit. During trading transactions makers pay 0.3 percent while takers pay 0.4 percent. When withdrawing the fees depends on which type of coin one is withdrawing.

The exchange security is assuring it has nothing to hide that is why it reveals the identities of its team members. It use sophisticated level of SSL it also uses Cloud flare. To access your account you need 2FA, the cold wallet they are using has multisignature. Even Observatory Mozilla website gave it B, which is very rear in that category. To further strengthen the assurance it makes it compulsory for all it users to carry out deep KYC in accordance with the governmental regulations.

The customer support service is available 24/7.

Pros & cons

  • It accepts deposit of fiat currencies.
  • Very transparent, one of the few exchange that makes their team known.
  • Majority of its fund are stored in cold wallet to prevent against hacking it.
  • The website is in different languages.
  • Availability of API documentation for advanced users.
  • The exchange want as many as possible to know about cryptocurrencies, that is why it use to sponsor programs outside crypto arena like football.
  • Holding their native gives holders some benefits.
  • The fee for transactions are a little bit higher than what is obtainable in the market, for example maker will pay 0.3 percent while taker pays 0.4 percent.
  • There is compulsory Know Your Customers (KYC)