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CoinDeal Review - is it scam or safe?

CoinDeal Review - is coindeal.com scam or good cryptocurrency exchange?

RATING: 2.2 / 4 REVIEWS CoinDeal

RECOMMENDED BITCOIN BROKERS


Trading accounts and conditions

 

Account type Leverage Fees
Standard 1:1

0.3% maker, 0.4% taker

 

 

CoinDeal is a new Cyprus-based cryptocurrency exchange that offers trading in Bitcoin, Litecoin, Bitcoin Cash, Ether, Dash and Quantum. The Bitcoin can be traded against the Euro, while the other cryptocurrencies can only be traded against the Bitcoin.

 

CoinDeal advantages

 

- Company. CoinDeal is owned by Verified Trading Solutions Limited, the company that owns another bitcoin exchange – BuyCoinNow that has been around for a while and has a decent reputation.

 

- Attractive Fees. CoinDeal offers very attractive trading fees of 0.3% for market maker and 0.4% for market taker, on all pairs. The deposits in all currencies, including the EUR, are free. The withdrawal fee for BTC is 0.0008 BTC, while the other cryptocurrencies are with a 0.01 of the respective coin. The withdrawal fee for euro is EUR 9, no matter the size of the withdrawal.

 

- High withdrawal limits. Withdrawal for unverified clients is impossible. Private clients have a high daily withdrawal limit of 100 BTC, while the corporate clients have no limit.

 

- Good Security. CoinDeal stores 90% of all funds in cold offline storage and keeps the company funds in a Swiss bank. The client funds are stored in a Danish bank. Additionally, the company has tight security standards and systems that do not allow unauthorized access, or in case of such, it is noticed immediately.

 

- Several Order types. CoinDeal offers two types of orders – market and stop loss. The latter is not yet available, as the system is still in beta mode.

 

- Countries. CoinDeal says it is available globally, except to US citizens and residents.

 

- Nice Platform. CoinDeal has a nice trading platform, which has some charts and charting tools, an order book and a recent orders list. Many of the cryptocurrency exchanges, particularly the ones offering the simple buy and sell option, do not bother with a proper trading platform.

 

- More currencies to be added. CoinDeal says it will expand its coin offering (and calls on users to vote on which to offer) and will add more fiat currencies as well.

 

 

 

CoinDeal disadvantages

 

- Still in Beta. CoinDeal is so new, that its platform is still in Beta mode. Normally this means that there may be some bugs and not all features may be fully functional. For example, the stop loss order type is not yet activated.

 

- Low Liquidity. CoinDeal does not have much of liquidity yet, as it is still quite new.

 

- No info on deposit methods. We could not find information about the fiat currency deposits, but most likely the only available method is by bank transfer.

 

>> See crypto exchanges accepting credit cards <<

 

- No Anonymity. CoinDeal does not allow anonymous trading on its platform. Users need to provide their full name, address, a copy of an ID document, an ID selfie, a current photo with a signature and a proof of residence.

 

- No Mobile app. CoinDeal does not have mobile trading application (yet), but says it is working on developing it. Now clients can trade through the mobile-supported web platform.

 

- No Leverage. CoinDeal does not offer leveraged trading, similarly to most cryptocurrency exchanges. The investors who are more interested in speculating on the prices, rather than owning the coins, should rather sign up with a regulated forex broker that offers leveraged trading on CFDs with cryptocurrencies as an underlying asset.

 

 >> See our list of regulated bitcoin forex brokers <<

 

Conclusion

 

CoinDeal is still very new and in beta testing mode, but in our opinion looks promising. The fees are quite attractive and so is the overall feel and interface of the site and the platform.

 

What we don’t like is that we could not find out how we can make deposits and withdrawals, without having to sign up and go through the verification procedure, which we are not keen on.

 

Yet the information on other aspects of its activities provided by CoinDeal is exhaustive enough.

 

 

 

Latest news about CoinDeal
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Traders` reviews for CoinDeal

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Summary

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CoinDeal

Dear Forexbrokerz Team,

We would be very thankful if you could update your news about us. Some of the information you provided is very old or even false. We explain, why this review is unfair:

Our cryptocurrency exchange is already one year old and has many engaged traders; lately, we celebrated our 300.000 user. We proved, just in a few months, that we are becoming one of the largest crypto exchanges globally. So we are definitely not in beta version anymore.
We are among top-100 cryptocurrency exchanges on CoinMarketCap’s based on trading volume. We have a very high level of security; we recently moved our headquarters to Malta and obtained the MDIA safety certificate. We keep very high AML & KYC standards, you can read more about it here: https://coindeal.com/security

CoinDeal is already famous for a large number of crypto pairs with fiat currencies and soon plans to introduce new ones. Currently, there are over 44 crypto markets and the fiduciary currencies include Dollars, Euro, Pounds, Polish Zloty and Rubles or Korean Won.
We have launched Premium accounts for more demanding traders. The users with Premium have access to features such as lower maker und taker fees, private chat and ticket line, public and private Telegram channel, fast track verification and customer support priority. Soon we will present more attractive options.

We organize many interesting actions for our users like for example SegWit promotion: All users that transact BTC onto their exchange wallet using a Bech32 (SegWit Native) address will gain access to 50% lower fees when withdrawing bitcoin from the platform.

All information, which you need to correct provided data you can get it under this link: https://coindeal.com/fees

We hope you will give your users more accurate news about CoinDeal. Please contact us, if you have any questions - we will provide you with all the information that you may need. Thank you for your understanding.

We wish you a very nice day!

Kind regards,
CoinDeal Team

CoinDeal 04/09/2019

I don't think that coindeal is a scam

Well, it's been a while since CoinDeal has started it's activity and i don't think that they are scam. They are on the market for a while, and i i've been using CoinDeal since the beginning of 2018 - i've never had any problem with verifications. Maybe such issues were related to the fact that it is still very young company. I have to say, that right now it's really reliable

MartinMystery 03/28/2019

In my opinion Coindeal is a SCAM

Why do I think they are a SCAM?

Well several days ago I requested a withdrawal. After a few days I didn't received anything so I contacted them. And now Coindeal comes up with some vage excuse that there are some errors on my verified account. They want me to pay $300 to fix this error which I didn't make. After I would have paid the $300 they say it will be refunded to my account. I think this is very suspicious. I didn't make any error so I'm not going to pay them because I believe I will loose the $300 also.

And when you visit their site and start a chat. You will chat with a robot called John. When you submit a support ticket you don't get any response.

Conclussion: If it acts like a scam, if it looks like a SCAM if it smells like a SCAM... It probably is a SCAM

A.J. van Hemert 02/28/2019

Coindeal is a terrible exchange

I've worked a couple of months now with Coindeal exchange and the platform is very instable. Many errors, deposits/withdrawals take far too long, almost daily empty hot wallets, fake volumes which they create themselves on daily basis and so on. My advice, don't trade at Coindeal!!

frleader 11/03/2018
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