Akin to the many banks and finance companies with physical locations around the world, there has been a rise in the number of exchange companies serving the cryptocurrency market over the past year. Each one a bit different from there other, catering to different demographics, serving different assets, and geographical locations across the globe.
Today, we will look at CoinDeal, a newer exchange which opened last year and continues to build its brand in a meaningful way.
Below you will find a top-down look at CoinDeal, and all they have to offer users in the crypto market.
The company is established in Cyprus for the time being, with the goal of receiving a license to operate in Switzerland. To expedite this goal, the CoinDeal founders created the company VTS Swiss GmbH (located in Huenenberg) and have already established it in Switzerland for this purpose (link to registration). CoinDeal is also a member of the Bitcoin Association Switzerland, and a Crypto Valley member (also based in Switzerland).
CoinDeal has 3 offices in 3 different countries: Cyprus, Switzerland, and Poland. The Poland office is out of the city of Wroclaw and is used for IT purposes. Until the company can reach its goal of a Swiss license, CoinDeal operates under the company Verified Solutions Ltd. located in England, with a Cyprus financial license to initiate payments. Verified Solutions is also developing BitcoinAPI, a payment gateway for many cryptocurrencies, and BuyCoinNow.com, a website where you can buy bitcoins with a credit card. CoinDeal works with both companies closely, but they are not involved directly in developing its exchange market. As mentioned, CoinDeal works the entities for accepting payments or performing payouts.
Founders
The CoinDeal team is led by their 3 Polish founders, more about each can be found below:
- Adam Bicz, CEO – The brain of CoinDeal was the main creator of BuyCoinNow, CodeArena, BitcoinAPI, among others. Acting as the leader of the CoinDeal operation, Adam operates as the main programmer and head of the team responsible for maintaining the security and stability of the exchange.
- Kajetan Maćkowiak, CMO – Focused on the promotion and marketing of the entire enterprise, Kajetan directs a team of experienced marketing specialists.
- Filip Dzierżak, COO – Responsible for managing teams of specialists, active software development, promoting, and marketing.
Unique Security
Even though patiently waiting up to 2 years to become licensed in Switzerland, the Swiss office is currently being used for some security purposes. Storing cold wallet keys in Swiss bank deposit boxes and securing company funds in Swiss banks in facilitated through the Swiss company. User funds will have to wait to be stored in Swiss banks until a license is obtained. User funds, for now, are kept in a Danish bank.
Through its security standards, from private keys to payments, the CoinDeal team claims there is no way for hackers to steal money from the platform. It is also not possible for an insider to initiate a theft. For more details on CoinDeal’s unique security apparatus, check out their cryptocurrency security standards guidelines.
Exchange Features
The CoinDeal exchange is a full suite of tools to empower cryptocurrency users and traders. The company features an affiliate program, where up to 20% can be earned on referrals. The operation also features a community voting mechanism on which tokens should be supported on future listings. As of this date, the exchange has held 5 voting rounds, successfully implementing the desires of the CoinDeal user base. Finally, CoinDeal provides advanced users with a powerful API, which allows users to automate trading on the CoinDeal exchange platform.
Crypto-assets currently include:
BTC, BCH, LTC, ETH, DASH, QTUM, XRP, NANO, BCN, XVG, LSK, FTO, XIN, ONION, SHND, DFT, XP, X12, BTK, XMR, DOGE.
Fees
Trading – Fees for trading across all the assets on CoinDeal stand at 0.3% for the Maker Fee, and 0.4% for the Taker fee.
Deposit/Withdrawals – Depositing funds on to the exchange is free for all cryptocurrencies. GBP and USD deposits are free, and Euro deposits are free for transactions above 500 EUR, those below are charged a 10 EUR fee. There are minimal withdrawal fees are all crypto and fiat assets are charged at 9 EUR/GBP/USD.
CoinDeal also has a unique feature where if a user does not possess bitcoin for direct transfer, they can purchase it straight from CoinDeal at the time of deposit. The user is charged a 2% fee for this service.
Current Withdrawal limits:
- Unverified: trading not possible
- Verified: Private – 100 BTC per day
- Verified: Corporate – unlimited
CoinDeal intends in to be a major player within the crypto exchange market, evidenced even more by its partnership with Premier League football club Wolverhampton Wanderers FC. The English professional football club will be sporting the CoinDeal branding on their jerseys for the upcoming season. This is a unique high-level marketing partnership for CoinDeal which costs a pretty penny. The marketing deal aims to increase awareness of the CoinDeal service while showing a level of seriousness in their commitment to operating a top-grade exchange service.
The exchange has a lot going for it, from its founder’s experience to its commitment to steadfast security. CoinDeal is an exchange worth signing up an account at. CryptoNinjas will be following the operation as they proceed down their roadmap to Swiss regulation.
Discussion about this post