CoinDeal is a Maltese cryptocurrency exchange (registered office – Villa Malita, Mediterranean Street, St. Julian’s 1870 Malta). The exchange was launched in 2018 but has already gained popularity in the market. However, as of February 18, 2021, CoinDeal has registered its headquarters in Saint Vincent and the Grenadines due to upcoming regulatory changes in Europe.
There is a wealth of information available about the company behind this exchange (CoinDeal Limited). There is also a large amount of data (including photos) about the founders who still run the exchange: Adam Beach and Kajetan Machkoviak. A large array of information about the company that manages the market and its leaders, in our opinion, provides an additional level of comfort. CoinDeal is also one of the few cryptocurrency exchanges that sponsor a sports team, namely the Wolverhampton Wanderers team. We welcome this because we believe that when cryptocurrency exchanges hold similar promotions, it also helps to popularize the cryptocurrency among the general public.
Coindeal offers the ability to trade over 20 cryptocurrencies. It is already more than their local competitor – the MBAEX exchange. Here you can purchase all dominant cryptocurrencies, as well as several small ones. Also, the exchange is constantly adding new cryptocurrencies to the platform.
Liquidity
In terms of 24-hour trading volumes, Coindeal had a quantity of $ 30 million as of the date this review was first written (November 6, 2018). This placed Coindeal in the top 50 cryptocurrency exchanges worldwide. According to Coinmarketcap’s ranking of cryptocurrency exchanges with the highest trading volume within 24 hours in the world. As of the date of the last update of this review (March 21, 2020, during the COVID-19 crisis), the exchange’s trading volume in 24 hours dropped significantly – to $ 7.8 million, due to which Coindeal descended to 142nd place rating.
American investors
On November 7, 2019, the exchange announced that they will now be available to American investors from the following states: Indiana, Idaho, Kansas, Montana, New Hampshire, New Jersey, Pennsylvania, Tennessee, Texas, Virginia, Wisconsin, and Wyoming. Coindeal’s goal is to actively obtain all necessary licenses for the exchange to become available to more than 40 US states by the end of 2020.
Coindeal Trading Window
All exchanges have a different trading interface. Therefore, there is no such thing as the best trading window. It is up to you to determine which trading window suits you best. The common thing in the trading interface of all exchanges is that they all show an order book or at least a bit of it, a price chart with selected cryptocurrencies and history. They usually have bought and sold blocks as well. Before picking an exchange for yourself, familiarize yourself with its trading interface to decide if you are easy working with it.
Coindeal trading fees
The trading commission for takers on this platform is 0.39%. This commission rate is slightly higher than not only the global industry average but also the local commission rate. The industry average commission rate is approximately 0.25%. Therefore, one should consider whether the Coindeal exchange has a big offer for investors in other respects that can outweigh the disadvantage of this higher trading commission.
One consolation for traders is that trading commissions for makers are 0.29% (a discount of 0.10% is provided compared to taker commissions). And also, if you want to buy and put 150,000 or more units of the market’s token – the CDL token – you will only need to pay 0.025% as a taker commission, and if you are a maker in a transaction, then there are no commissions for you at all. Today, July 2, 2019, the exchange is opening away several CDL tokens, so if you are interested in this exchange and want to take advantage of the offer with a low trading commission, now is the time to act.
Coindeal withdrawal fees
Withdrawal fees that operate on exchanges can vary. Most markets set fixed prices, which vary depending on the cryptocurrency. Nevertheless, there are also exchanges, the size of the commission for the withdrawal of funds is set as a percentage. The latter means that you pay, for example, 0.20% of the amount you withdraw as a commission for withdrawing funds.
When withdrawing BTC, the CoinDeal exchange charges 0.0008 BTC for addresses starting with 1 and 3. It is an acceptable fee, as there are many higher fees. However, CoinDeal’s charges are even more competitive for BTC addresses starting with BC1 (Native Subscription, BECH32). For these addresses, CoinDeal only charges 0.0004 BTC for each BTC withdrawal. Because the industry commission for BTC withdrawal is about 0.0006 BTC, the commission of this exchange can be considered quite competitive.
Deposit Methods
At CoinDeal, you used to make a deposit using both bank transfers and credit cards. It was valuable for new crypto investors.
However, in an email sent to its users on November 25, 2020, the platform announced that it would no longer offer fiat currency deposits and withdrawals. The platform has not declared the cause why they will be dropping their fiat options, but we assume this is due to new regulatory requirements.
