Launched in March 2018, CoinDeal represents a centralized cryptocurrency exchange platform headquartered in St. Julians, Malta. It was created with the goal to change the way cryptocurrency marketplaces and communities develop and satisfy the needs of the most demanding customers.
The platform offers 20+ cryptocurrencies including the most popular ones like Bitcoin, Ethereum, or Litecoin, which make up 23+ cryptocurrency pairs in total. It accepts citizens and residents of some US states including Idaho, Illinois, Indiana, and Montana. However, it does not operate throughout all of the states due to legal restrictions. The exchange has a mobile version that can be downloaded from Google Play, App Store, or APK. However, to be able to use the application, users need to create an account within the web version first.
Being concerned about protecting customers' sensitive information and funds from theft, CoinDeal has taken a number of important measures to adhere to the highest security standards. First, the whole system was built using a microservices-based architecture. Second, complex password requirements, KYC verification, and mandatory 2FA were implemented. To complete an advanced level of verification it is necessary to talk via a video chat with a person from the support team and provide documents confirming your income and the source of funds you deposit to the exchange.
In addition to proper identification and supervision of all transactions, the company implements such security measures as advanced SSL, Cloudflare's security features, and real-time auditing. Also, withdrawals are only processed after email confirmation. Besides, the company has a bank account used exclusively for receiving clients’ funds.
Moreover, to prevent unauthorized access to users’ accounts from unusual IP addresses, a confirmation via a temporary code sent by email was implemented. Finally, the details of the bank account holder must always match the details of the CoinDeal account holder for successful fiat deposits.
24/7 professional support, modern interface, one-click trading, a preview of transactions, quick and easy registration, referral program, AML and KYC policies, credit card payments for Bitcoin, the CoinDeal wallet, CDL token, and the OTC market are some of the important features that the platform offers.
CoinDeal Token or CDL is an ERC-20 utility token fueling the project with a maximum supply limited to 50,000,000 coins. It is used to reduce fees, get voting rewards, stake, and trade. Users holding 150,000 CDL can reduce their trading fees down to 0.05%. Staking over 150,000 CDL will result in a 0% maker fee and a 0.025% taker fee.
Clients can choose between two types of accounts, basic and premium (VIP), depending on their needs. A premium account provides its holder with access to a number of benefits, such as priority treatment by the support team, faster verification, a private chat, lower fees, and a private channel on Telegram. Besides, OTC facilitating the purchase of bitcoins is only available for VIP account holders or those with at least 20,000 CDL tokens in their wallets.
The exchange gives users an opportunity to deposit bitcoins via direct transfer from any digital wallet, buy it without transferring fLats, or buy it with USD, EUR, GBP, or PLN via a credit card. The list of fiat currencies that users can deposit and withdraw via bank transfer includes PLN, USD, EUR, GBP, and CHF. Withdrawals are also available by Neteller.
The platform offers free deposits, but charges a commission for cryptocurrency withdrawals, the amount of which is determined by the token. For example, one will pay 0.000375 BTC for withdrawing Bitcoin, 0.015 ETH for Ethereum, and 0.02 LTC for Litecoin.
As for trading commissions, they depend on the type of account. With the basic account, makers are charged 0.29%, while takers pay 0.39%. VIP makers pay 0.20%, and takers are charged 0.30%. Transaction fees can also be reduced in several ways. Thus, by purchasing CoinDeal tokens, users can reduce commissions to 0.05%. The more tokens they have in their wallets, the less they will pay. Fees can also be reduced by acquiring a VIP status.
Users who have not made any transaction for 6 months, and are storing at least some funds on their accounts, are charged an inactivity fee of $9 per month.
CoinDeal earning opportunities
The CoinDeal exchange is not only a platform for trading but also a place to increase capital. One of the easiest options to earn money is locking CoinDeal tokens in your wallet. Rewards depend on how much and how long you stake. The participants need to lock at least 1,000 CDL tokens for 72 hours to get a reward which can be paid in one of 3 coins: CDL, BTC, or USDT. Staking CDL enables earning up to 8% per year. After 72 hours, users can get 30 CDL and unlock their coins at any time. The annual minimum award rate for CDL is 3% while BTC and USDT will bring 1%. The maximum staking time equals 1 year.
Other ways to earn additional tokens include special promotions and competitions, voting, and the referral program. Users can participate in the development of CoinDeal by deciding which new cryptocurrencies to add to the exchange. To be able to vote they must be verified users with at least 100 CDL tokens in their wallets. For each vote, the participants receive some CDL tokens. Those who invite their friends to trade on CoinDeal, earn 20% of the transaction fees paid by their first-level referrals and 4% of fees paid by their second-level partners as a reward.
CoinDeal’s team and partners
The team behind the project is a bunch of cryptocurrency and blockchain enthusiasts skilled in sales, management, business development, marketing strategy, and investments. Kajetan Maćkowiak, an experienced businessman, is the founder of CoinDeal. In addition, he is the CEO and founder of Praise Group. Adam Bicz is the CEO, chief programmer, and head of the team responsible for CoinDeal’s security. He is also the creator of BuyCoinNow, the platform’s partner service that allows buying BTC online with a credit card.
In addition, CoinDeal joined forces with GamerHash to promote blockchain solutions and expand its services. The company is also a member of the Crypto Valley Association.