CoinDeal is a Maltese cryptocurrency exchange (registered office being Villa Malitah Mediterranean Street, The Village St. Julians STJ 1870 Malta). The exchange launched in March 2018 but has already popularity in the global market. As of 18 February 2021, however, the CoinDeal exchange registered its headquarters in Saint Vincent and the Grenadines instead, due to upcoming regulatory changes in Europe.
There is plenty of information on the company behind this exchange (CoinDeal Limited). There is also plenty of information (including pictures) on the founders still running the exchange: Adam Bicz and Kajetan Maćkowiak. The extensive information on the company running the exchange and the people in charge of the exchange does – in our opinion – provide some extra level of comfort. CoinDeal is also one of the very few cryptocurrency exchanges that provide sponsorship to a sports team – namely Wolverhampton Wanderers. We applaud this as we think that when cryptocurrency exchanges take on promotions like this, it also helps to promote cryptocurrency adoption among the general public.
CoinDeal offers trading in 20+ cryptocurrencies. This is more than its domestic competitor MBAEX offers. You can trade all of the biggest cryptocurrencies here and a few smaller as well, and the exchange keeps on adding cryptocurrencies all the time.
With respect to the 24 hour trading volume, on the date of first writing this review (6 November 2018), CoinDeal’s volume was USD 30 million. This placed CoinDeal in the top 50 of all the world’s cryptocurrency exchanges according to Coinmarketcap's list of the exchanges in the world with the highest 24 hour trading volumes. On the date of last updating this review (21 March 2020, right in the middle of the crisis with COVID-19), the 24 hour trading volume was substantially lower – USD 7.8 million – placing CoinDeal on place no. 142 on the list.
On 7 November 2019, the exchange announced that they will now be open to US-investors from the following states: Indiana, Idaho, Kansas, Montana, New Hampshire, New Jersey, Pennsylvania, Tennessee, Texas, Virginia, Wisconsin and Wyoming. CoinDeal’s ambition is to actively pursue all necessary licenses required in order for the exchange to be available in over 40 states in the U.S. before the end of 2020.
CoinDeal Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the trading views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at CoinDeal:
CoinDeal Trading fees
This trading platform’s trading fees for takers are 0.39%. This fee is slightly above both the global industry average and the domestic industry average. The global industry average is arguably around 0.25%. One should consider whether CoinDeal has a strong offering to investors in other respects that outweighs the disadvantage of this somewhat higher trading fee.
One consolation for traders is that the maker fees are 0.29% (i.e. 10 decimal percentage points discount compared to the taker fees). And also, if you’re willing to buy and stake 150,000 or more of the exchange’s own token – the CDL token – you will only have to pay 0.025% in taker fees and nothing at all in maker fees. Today, on 2 July 2019, the exchange is giving away a number of CDL-tokens so if this exchange is interesting to you and you want to make use of the low trading fee offer, now might be the time to act.
CoinDeal Withdrawal fees
Withdrawal fees vary a lot between exchanges. Most exchanges have a fixed fee that varies between cryptocurrencies. However, there are also exchanges that have percentage based withdrawal fees. The latter meaning that you pay e.g. 0.20% of your withdrawn amount in withdrawal fees.
CoinDeal charges you 0.0008 BTC when you withdraw BTC for address beginning with 1 and 3. This is an acceptable fee and there are many higher fees out there. Even more competitive, however, is CoinDeal's BTC-wihtdrawal fee for BTC-addresses beginning with BC1 (Native Segwite, BECH32). For these addresses, CoinDeal only charges 0.0004 BTC per BTC-withdrawal. Seeing as the industry average is around 0.0006 BTC per BTC-withdrawal, this is a very competitive fee.
At CoinDeal, you could previously deposit through both wire transfer and credit cards. This was especially helpful for newer crypto investors.
However, in an email sent to its users on 25 November 2020, the platform announced that they will no longer offer fiat currency deposits and withdrawals. The platform has not announced the reason to why they will cancel their fiat options, but we assume it has to do with new regulatory requirements that the platform must meet but can't or doesn't want to meet.