Coindeal Review

Coindeal
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Overview

CoinDeal is a young cryptocurrency exchange that offers comfortable conditions and favorable rates for traders, access to more than 50 currency pairs.

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Details

BrokerCoindeal
Website URLcoindeal.com
Founded2018 year
HeadquartersVilla Malitah, Mediterranean street, The Village, St. Julians STJ 1870, Malta
Support TypesFeedback form on the site
LanguagesEnglish, German, Polish, etc.
Trading PlatformTradingView
Minimum 1st Deposit300 EUR
BonusUp to 20%
Free Demo Account No
Commissions Yes
Commission InfoFrom 0.2% to 0.3% for makers and from 0.3% to 0.4% for takers
Account TypesStandard
Deposit MethodsEpay, Payeer, Skrill
Withdrawal MethodsEpay, Payeer, Skrill
Number of Assets40
Account CurrencyEUR, USD, Cryptocurrency, GBP, PLN, KRW
US Traders Allowed No
Overall Score8.9/10

Full Review


CoinDeal is a young cryptocurrency exchange that appeared on the market in 2018. As indicated on the website, the platform is one of the most powerful among competitors and offers access to more than 50 currency pairs.

In our review, we will analyse in detail the possibilities implemented by the project and find out if Coindeal is a scam and fraudsters or a reliable exchange for trading digital assets.

 

Why Coindeal?

Coindeal is a fairly young company that appeared on the Internet less than one year ago. Interface of the main website coindeal.com has been translated into 6 languages, which indicates a focus on the international market. The company’s headquarters is registered in Malta, from where the project activities are regulated.

Coindeal – is it a scam? Reviews

Coindeal company provides clients with favourable and comfortable conditions for cooperation. Thus, the users are provided with an access to trade 40 types of cryptocurrencies, including the most popular ones, such as Ethereum, Bitcoin and Litecoin, along with many fiat currencies: euro (EUR), US dollar (USD), British pound sterling (GBP), Polish zloty (PLN) and Korean won (KRW). A clear advantage is that the company’s website provides information on the founders. The platform features the advanced SSL standard. Client accounts are protected by multi-level verification, which provides a high level of protection against hacking. The exchange has its own token called SDL. Token holders have certain advantages:

  • Fees reduction to 0%. The more tokens in the user’s account, the less fees it will pay. If there are more than 150 000 CDL on the account, the fee is equal to 0%.
  • Earnings by voting. Token holders are entitled to vote on the cryptocurrency, which will be added next to the exchange (how to make money on cryptocurrency?). Those users who have 100 CDL on their account can receive a reward. The more actively the client votes, the more tokens he/she will receive to the account.
  • Increased fee in the affiliate program.

coindeal.com advantages

Two types of accounts are available to users.

  • Basic account is an account that is suitable for experienced traders. It is characterized by a higher fee. The clients have access to an open chat and a standard message queue, as well as a public channel in Telegram.
  • Pro account is suitable for professionals who want to gain access to the advanced functionality of the project. There are lower fees, as well as a private chat and personal channel in Telegram. Clients receive faster verification and get an individual approach to the required functions. Cost of the account is USD 19 per month.

coindeal.com account types

The Coindeal trading platform itself is provided with a simple and intuitive interface. The website coindeal.com is more suitable for experienced users, since there are practically no training materials for beginners, except for the section containing answers to the most popular questions. Experienced traders will be able to deal with the main functionality of the project in 15-20 minutes after registration.

COINDEAL cryptocurrency trading platform

The following functionality is presented on the website:

  • trading history;
  • a blotter of orders;
  • charts;
  • analytics in the last 24 hours;
  • purchase and sale form;
  • stop loss function.

Thus, a mobile application has been developed for traders to have a constant access to the trading platform. Thus, users can access the website anytime and anywhere. There are versions available both for iOS and Android.

coindeal.com mobile application

The main advantages of the platform are as follows:

  • own token;
  • low trading fees;
  • stable operation of the platform;
  • large trading volume;
  • mobile app;
  • simple and intuitive interface;
  • stop loss function;
  • cold storage of funds;
  • ongoing technical support.

 

How to exchange cryptocurrency on the platform coindeal.com?

To exchange cryptocurrency, you first need to go to the trading platform coindeal.com and perform several actions:

  • choose a trading pair;
  • fill in the form, indicating the number of coins to buy or sell;
  • click on the «Buy» or «Sell» button.

How to exchange cryptocurrency on the platform coindeal.com

 

Verification on the Coindeal platform

The user must pass verification after registration. First, the client should confirm his/her profile by indicating the following information:

  • account type;
  • name and surname;
  • residence region;
  • telephone number.

The client will receive a code at the indicated phone number. Then he/she will need to connect a two-factor verification and start the process of confirming data. You should download several documents to confirm your identity:

  • scans of both sides of the identification card;
  • a photo where the client holds an ID card in his/her hand;
  • photo with the current date and signature.

It will also be necessary to confirm the address of residence. You should keep in mind that all photos must be of high quality, and all details must be clearly visible. The maximum image size is 8 MB.

 

Deposit and withdrawal

To replenish a trade balance, you must do the following:

  • go to the «Wallets» page;
  • choose currencies to replenish the balance;
  • select the «Deposit» option;
  • copy the address and paste it into the payment system.

Withdrawal

To withdraw the funds from the account, you must do some simple steps:

  • go to the «Wallets» page;
  • choose currencies to withdraw the funds;
  • select the «Deposit» option;
  • submit the withdrawal address, comment and the amount of coins

To replenish and withdraw fiats, it is necessary to perform almost the same actions as for cryptocurrency. The only difference is that replenishment is made through payment systems:

  • Skrill;
  • Epay;
  • Payeer.

Cryptoexchange commission

There are trading fees for users. Thus, the owners should pay:

  • basic — 0,3% for a maker and 0,4% for a taker;
  • premium — 0,25% for a maker and 0,35% for a taker;
  • VIP — 0,2% for a maker and 0,3% for a taker.

coindeal.com cryptoexchange commission

There are also special tariffs provided for token owners:

  • ≥ 2500 CDL — 0,25% for makers and 0,3% for takers;
  • ≥ 5000 CDL — 0,2,% for makers and 0,25% for takers;
  • ≥ 10 000 CDL — 0,15% for makers and 0,2% for takers;
  • ≥ 15 000 CDL — 0,1% for makers and 0,15% for takers;
  • ≥ 25 000 CDL — 0,05% for makers and 0,07% for takers;
  • ≥ 50 000 CDL — 0,04% for makers and 0,06% for takers;
  • ≥ 75 000 CDL — 0,03% for makers and 0,05% for takers;
  • ≥ 150 000 CDL — 0,0% for makers and 0,025% for takers.

Commission for users with COINDEAL token

Withdrawal commission

If a fee is charged for depositing funds depending on the payment system (3% on an average), then established fees are foreseen for withdrawal of earnings. The average withdrawal fee amounts to 9 USD/ EUR/GBP/PLN or 12,000 KRW.

Limits

The website also sets limits for fiat:

  • USD — up to 10 000 dollars per transaction;
  • EUR — from 300 up to 10 000 euro per transaction;
  • GBP — from £ 300 for Skrill and up to £ 10,000 per transaction, regardless of the payment method;
  • PLN — from 300 up to 10 000 zloty per transaction.

Withdrawal limits

  • unverified account – trading is not possible;
  • verified account (private) – 100 BTC per day;
  • verified account (corporate) – no restrictions.

 

Coindeal bonuses

Various bonuses and promotions appear from time to time on the company’s website coindeal.com, but there are currently no active bonuses.

Affiliate program

An affiliate program has been developed for active traders who want to receive passive income. Each verified client receives a special link that can be used to attract new members. The company pays a 20% reward of the system fee.

coindeal.com affiliate program

The users also can go to the VIP-club as part of an affiliate program. You need to collect 100 referrals for this purpose. The following options are available for VIP members:

  • 20% of the user fee + 20% of 20% fee of the 2nd level referrals;
  • reduced trading fee – 0.2% for makers and 0.3% for takers;
  • individual specialist support;
  • special-purpose «Newsletter» with all planned promotions and changes on the website.

 

Complaints against Coindeal

Although the company has been on the market for almost two years, there are few feedbacks on the Internet, especially from the CIS countries users. In general, the company has a positive reputation. The clients note availability of fiats, their own token. The users indicate the difficulty of passing verification as disadvantages.

If we find complaints about Coindeal, we will post it on social media. Follow us to be well informed:

 

Coindeal cryptoexchange regulation

Due to the fact that a financial sector is one of the most popular among scammers, it is important to carefully check the availability of a license, as well as relevant documentation on the official website of the project. Let’s consider in more detail how the company is regulated.

Regulator of coindeal.com

On the official company’s website, you can find information that the legal entity is regulated by the Swiss Financial Services Standards Association. Coindeal is also at the final stage of obtaining a license from MFSA (Malta). The company is also listed in FinCen since May 2019, under the registration number 31000146609933.

Documents from the website coindeal.com:

  • Read «Privacy policy» on the cryptoexchange website (view);
  • Read «Rules and conditions» on the Coindeal cryptoexchange website (view).

Terms and conditions

«Terms and conditions» is the main document presented on the official website of the exchange. It contains the basic rules of trade, as well as responsibilities of organizers and customers. Each user must familiarize himself/herself with this agreement before starting cooperation. Let’s consider some clauses in more detail. The agreement indicates that the organizer may require additional documentation, information or explanations during a verification process, as well as refuse to verify a user due to insufficient reliability, incomplete data or documents or due to results of the AML/CFT (anti-money laundering and combating the financing of terrorism) risk assessment.

Duration of a verification procedure of the provided data, as well as the duration of the AML/CFT risk assessment, depends on the current capabilities of the service provider and third parties, therefore, the organizer does not guarantee and is not responsible for the duration of such actions or their positive result. After a failed verification attempt, the service provider may refuse to re-verify the same client.

coindeal.com verification

The service provider shall be entitled to refuse processing the user’s transaction, as well as to freeze deposits and withdrawals of the client in response to a request from government authorities or in order to ensure compliance with transaction limits established and published on the website. The organizer also reserves the right to refuse making or revoking any purchase, sale or exchange of cryptocurrency at its discretion, even after the funds have been withdrawn from the user’s account in the following situations:

  • the supplier suspects that the transaction may involve money laundering, terrorist financing, fraud, or any other criminal offense;
  • in response to a subpoena or other order of government agencies or bodies;
  • if the service provider reasonably suspects that the transaction is caused by an error;
  • the transaction was completed in violation of the regulations or other term and conditions governing the use of services published on the website;
  • when the transaction is made by a resident of the country from the current list of countries with a limited access to services published on the website.

In such cases, the organizer shall not be obliged to restore the transaction at the same price or under the same conditions as in the case of cancellation.

COINDEAL cryptocurrency exchange rules

The service provider shall be entitled to get additional rights if it suspects that the transaction ordered by the user or any other client’s activity on the website may be related to the commission of a crime, money laundering, terrorist financing, violation of the regulations. Organizer’s legal provisions:

  • terminate validity of the user account;
  • refuse or terminate a transaction;
  • the right to recall the executed transaction;
  • conducting additional user verification by requesting the submission of relevant documents or information.

coindeal.com organizer's legal provisions

The company shall be entitled to block the right to make transactions, as well as deposit or withdraw cryptocurrencies of the client and funds, if:

  • legal requirements oblige the service provider to do it;
  • this is justified by an AML/CFT risk assessment;
  • the user has not fulfilled his/her obligation to provide additional, unambiguous documentation or information as requested by the service provider under regulations;
  • the user’s country of stay, country of citizenship or country of residence is on the list of countries excluded from the provision of services, according to the information published on the website.

coindeal.com trading rules

The service provider can terminate the contract with a client by sending a notice of the service contract termination with a 30-day notice to the user’s email address. In case of the service contract termination by any of the parties, the trader shall be obliged to withdraw all funds or cryptocurrencies available on the account. If it is not possible to do this within 10 days, the organizer shall be entitled to return funds under the regulations.

Terms of cancellation of the contract with COINDEAL

The organizer shall not be liable for:

  • losses incurred by the user as a result of effectively executed transactions;
  • the consequences related to loss or provision of login data to the third parties by the user;
  • incorrect data entry by the user when replenishing or withdrawing funds or cryptocurrencies;
  • the consequences of events that are not dependent on the service provider, i.e. software errors, interruptions in access to the Internet, power outages, hacker attacks, etc.;
  • removal of data entered by the client into the service provider’s system from the systems outside the organizer’s control.

Terms and conditions Coindeal

The Company does not make any statements or representations that access to the website or services in any part of it or any materials contained therein will be uninterrupted, timely or error-free. To the maximum extent permitted by applicable law, the service provider, in particular, excludes all implied warranties regarding availability of a service, its suitability for a particular purpose and its integrity.

Responsibility of the organizer COINDEAL

Coindeal support service

You can contact a support service using the feedback form. You can also find a section containing answers to frequently asked questions.

coindeal.com support service

 

Is Coindeal a scam?

Coindeal is a young platform providing users with the ability to trade cryptocurrency. The project entered the financial market less than two years ago. The company focuses on the international market, as evidenced by the multilingual interface of the official website. The main office is registered in Malta, wherefrom the company is regulated. The platform is trying to provide users with the most comfortable, and most significantly, favourable conditions for trading. Thus, clients gain access to trade in more than 40 types of cryptocurrencies, as well as 7 fiats. The exchange has its own token, which gives owners the opportunity to receive various benefits. There are two types of accounts for the clients – basic account and premium account, as well as access to the VIP club.

An affiliate program has been developed for active users wanting to earn extra money. Thus, the clients can receive up to 20% of the referrals’ fee. A mobile application has been developed for the traders to have constant access to the trading platform. Both Android and iOS versions are available.

Despite the fact that the company entered the market almost two years ago, there are few feedbacks from users from the CIS countries on the Internet. The company generally has a positive reputation, although there are comments from users. Having studied in detail the possibilities implemented by the project, can we conclude that Coindeal is a scam and scammers? No, as the company successfully provides its services and operates based on the legislative framework.

 

Summary

Coindeal is an exchange that entered the market in 2018. The company has become one of the most powerful in the market and has gained popularity among users around the world in less than two years. The platform provides users with comfortable conditions for trading and favourable rates. However, trading itself is a rather risky process. Beginner traders often assess incorrectly their capabilities, as well as possible losses. That is why, you should carefully study the relevant documentation on the website before registering. The project currently looks good among competitors. If you were or are a client of the company, provide your feedback about the service on our website to form an independent rating of cryptocurrency exchanges.

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