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Office: 63 Chulia Street, OCBC Centre East, #15-01, Singapore, 049514
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Business Hours: Mon. - Fri. (11.00-19.00)
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CoinDeal

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Malta

Founded in

2018 (8 Years)

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Last online: No recent activity

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OVERALL SCORE
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--/40
Reviews
25/60
2 reviews

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OVERALL SCORE
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25/60
2 reviews

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Markets.com

Markets.com

(326 reviews)

foundedInUnited States

2008

(18 years)

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This company is currently Unproved.

Please be cautious of the potential risks!

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

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Get to know CoinDeal

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Company Information

Get to know CoinDeal

Founded in 2018, CoinDeal was a cryptocurrency exchange that aimed to provide a secure, fast, and user-friendly platform for trading a wide range of cryptocurrencies and fiat pairs. The company emphasized security, implementing advanced measures and user-voted cryptocurrency additions to build a community-driven trading environment. After five years of operation, citing a decline in the crypto market, the collapse of major industry players, regulatory pressures, and high costs, CoinDeal announced its decision to cease all activities and permanently close the platform on February 29th, 2024.

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  • Crypto ExchangePRIMARY

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Maryam Garba

Maryam Garba

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Great

Overall Thought

CoinDeal.com's extensive offering of over 40 cryptocurrency pairs, combined with support for popular fiat currencies, makes it a versatile platform for crypto enthusiasts. The inclusion of major cryptocurrencies like Ethereum, Bitcoin, and Litecoin, along with various fiat options, provides users with ample trading choices. This diverse range of pairs and currencies helps cater to the needs of traders and investors with different preferences. CoinDeal's approach to pairing cryptocurrencies with both traditional and emerging fiat currencies reflects their commitment to facilitating seamless trading across global markets.

Aug 29, 2023
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Summarization

CoinDeal Crypto Exchange Review: A Comprehensive Guide

Overview and General Information

CoinDeal, established in 2018 [1], is a cryptocurrency exchange operating under Maltese regulations [3]. This means it's subject to the legal framework and oversight of the Maltese financial authorities. Its location in Malta offers access to a relatively progressive regulatory environment for blockchain and cryptocurrency businesses. It's crucial to understand that regulatory landscapes for cryptocurrency are constantly evolving, and compliance is paramount for a legitimate exchange. CoinDeal claims to hold multiple international licenses [1] and meets the requirements of the VFA Class 4, possessing the Maltese VFA license [3]. This signifies a level of regulatory compliance, but independent verification of these claims is always recommended before engaging with the platform.

Products and Services Offered by CoinDeal Crypto Exchange

CoinDeal primarily functions as a cryptocurrency exchange, allowing users to buy and sell a wide range of cryptocurrencies. The platform boasts over 50 currency pairs [1][3], offering considerable diversity for traders. Supported cryptocurrencies include popular options like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), as well as FIAT currencies such as Euro (EUR), US Dollar (USD), British Pound (GBP), Polish Zloty (PLN), and Swiss Franc (CHF) [3]. This multi-currency support caters to a broader user base and facilitates smoother trading experiences for individuals across different regions. Beyond standard exchange functions, CoinDeal offers unique features. Notably, the platform allows users to actively participate in its development by voting on new cryptocurrencies to be listed [1][3]. This community-driven approach fosters engagement and reflects the exchange's interest in adapting to market trends and user preferences. CoinDeal also has its own token, CDL, which is distributed to users and planned for use in various trading pairs, such as CDL/EUR and CDL/USDT [3]. The utility and long-term value of the CDL token should be evaluated carefully by potential investors.

Product Features and Conditions

CoinDeal's platform prioritizes user experience with several key features: * **Real-time Data Updates:** The app provides real-time market data, including current prices, highest bids, lowest asks, and the latest trades [1]. This real-time information is crucial for informed trading decisions. * **User Wallets:** Users have access to clear displays of their wallet balances, showing holdings in various cryptocurrencies and their equivalent value in US dollars [1]. This provides a straightforward overview of the user's portfolio. * **Transaction Capabilities:** The platform allows users to execute trades efficiently, making bids or purchases in their chosen currencies and easily reviewing the market value and wallet information [1]. The simplicity of the transaction process is a key design element.

Contact Channels and Customer Support

While CoinDeal's website might not explicitly list a dedicated phone number or physical branch locations [1], users can typically reach the support team via email or through the mobile application. The lack of readily available phone support might be a drawback for some users who prefer immediate assistance. The absence of detailed information regarding service hours or specific support quality metrics prevents a full assessment of their responsiveness. However, the platform highlights its commitment to security with features like multi-level 2FA verification and SSL standard security integrated with Cloudflare functionality [3]. These security features are crucial for protecting user accounts and assets.

Pros and Cons of CoinDeal Crypto Exchange

Pros

* **User-Friendly Interface:** The mobile app, in particular, is designed for ease of use, allowing users to quickly access and understand real-time exchange rates and market information [1]. A simple and intuitive interface can significantly improve the trading experience. * **Robust Security Measures:** CoinDeal emphasizes security, incorporating multi-level 2FA verification and storing 90% of user funds in cold wallets protected by Multisignature [3]. This approach minimizes the risk of unauthorized access and theft. * **International Availability:** The exchange operates in 13 US states and meets various international regulatory standards [3], indicating a commitment to compliance and broadening its market reach.

Cons

* **Limited Customer Support Information:** The lack of detailed information on customer support channels and service hours represents a significant shortcoming. Clear and readily accessible support is essential for addressing user issues promptly. * **Past Regulatory Issues:** CoinDeal has faced past regulatory scrutiny, including involvement in a fraudulent investment scheme that raised substantial funds from unregistered securities [5]. This raises concerns about the platform's historical compliance and overall reputation.

Summary of CoinDeal Crypto Exchange Review

CoinDeal is most suitable for cryptocurrency traders who prioritize user-friendliness and robust security. Its international availability and stated compliance with various regulations can be attractive to users seeking a seemingly established platform. [1][3] However, the platform’s past regulatory issues should not be overlooked. While CoinDeal offers a competitive set of features, users must conduct thorough due diligence before engaging in any trading activities. The ease of use and claimed security measures are positive aspects, but the lack of transparent customer support and past regulatory issues necessitate a cautious approach. It’s highly advisable to compare CoinDeal to other exchanges and thoroughly assess its risks before investing.

Frequently Asked Questions about CoinDeal Crypto Exchange

**Q: What are the security measures in place?** A: CoinDeal employs SSL standard security with Cloudflare functionality, multi-level 2FA verification, and stores 90% of user funds in cold wallets protected by Multisignature [3]. These measures aim to safeguard user assets from various threats. **Q: What cryptocurrencies does CoinDeal support?** A: CoinDeal supports a range of popular cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and many others. It also supports various FIAT currencies. The exact list is best checked directly on their platform for the most up-to-date information. **Q: How user-friendly is the platform?** A: CoinDeal is generally considered user-friendly, especially its mobile app, designed for quick access to market information and efficient trading. **Q: What are the fees associated with using CoinDeal?** A: The fee structure for CoinDeal is not explicitly stated in the provided references. It is recommended to check their official website for the most current and complete fee information. **Q: Is CoinDeal regulated?** A: CoinDeal operates under Maltese regulations and claims to hold several international licenses. However, independent verification of these claims is advised.

Bullet Points Summary:

* **Pros:** User-friendly interface, robust security measures (2FA, cold storage), international availability. * **Cons:** Limited customer support information, past regulatory issues, lack of transparency on fee structure. * **Best For:** Traders prioritizing ease of use and security, but willing to accept a lack of readily available customer support and a need for independent verification of regulatory compliance. * **Recommendation:** Conduct thorough research before using the platform.

References

  1. https://www.holdapp.com/projects/coindeal
  2. https://discuss.codecademy.com/t/faq-learn-html-tables-spanning-columns/267353
  3. https://coinranking.com/exchange/iUXfH9Fg-+coindeal
  4. https://www.w3schools.com/jsref/prop_tabledata_colspan.asp
  5. https://www.sec.gov/newsroom/press-releases/2023-2
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