Dcoin Exchange Review
A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of Dcoin Exchange consists of four parts: general information, fees, deposit methods and security.
Dcoin Exchange is a quite new cryptocurrency exchange from Switzerland. The only other Swiss exchanges we list in our Cryptocurrency Exchange List are Lykke Exchange, Exrates and Vaultoro. But we do see more and more exchanges moving to Switzerland, primarily for tax purposes.
The team behind the Dcoin Exchange apparently, according to information on its website, consists of people from prominent tech companies such as Google, Baidu, 360 and “other world renowned IT companies”.
The Dcoin Exchange launched in May 2018 so has only been around for a little bit less than two year. In spite of that, Dcoin Exchange has incredibly trading volumes. On the date of first writing this review, 28 June 2019, Dcoin Exchange had a 24 hour trading volume of USD 1.294 billion. This made it the exchange in the world with the 21st highest 24 hour trading volume. On the date of last updating this review (16 March 2020, right in the middle of the crisis with COVID-19), the trading volume was roughly the same (USD 1.23 billion), but the relative place on Coinmarketcap’s list of exchanges based on 24 hour trading volumes was now place no 29. Needless to say, you don’t have to worry about liquidity if you trade at this platform.
Dcoin Exchange promotes three advantages with its trading platform (other than a deep orderbook): security, efficiancy and intuitive and helpful user experience. Within the area of user experience, they also mention that they do have 24/7 customer support. The latter is extremely helpful, especially considering that this exchange – like many other exchanges – have traders that reside in different time zones.
Dcoin Exchange offers leveraged trading on its trading platform. This means that you can receive a higher exposure towards a certain cryptocurrency’s price increase or decrease, without having the assets necessary. You do this by “leveraging” your trade, which in simple terms essentially means that you borrow from the exchange to bet more.
For instance, let’s say that you have 10,000 USD on your trading account and bet 100 USD on BTC going long (i.e., increasing in value). You do so with 100x leverage. If BTC then increases in value with 10%, if you had only bet 100 USD, you would have earned 10 USD. As you bet 100 USD with 100x leverage, you have instead earned an additional 1,000 USD (990 USD more than if you had not leveraged your deal). On the other hand, if BTC decreases in value with 10%, you have lost 1,000 USD (990 USD more than if you had not leveraged your deal). So, as you might imagine, the balance between risk and reward in leveraged deals is quite fine-tuned (there are no risk free profits).
As many other exchanges, Dcoin Exchange does not accept US-investors on its platform. If you’re from the US and you’re looking for the trading platform that is just right for you, don’t worry. Use our Exchange Finder to find an appropriate exchange accepting US-investors.
Dcoin Exchange 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 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. This is the trading view at Dcoin Exchange:
Dcoin Exchange is also available as an application in your phone. This can be helpful for any investors interested in trading when “on the go”. Research shows that a vast majority of all cryptocurrency trades are executed through desktops. But, if you’re a mobile-kind-of-person, the Dcoin application might make you happy! Trading platform is available through mobile use on both iPhones and Androids.
Dcoin Exchange Fees
Dcoin Exchange Trading fees
Trading fees are naturally very important. Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Many exchanges charge what we call taker fees, from the takers, and what we call maker fees, from the makers. The takers are the people who “take” orders from the order book. This means that they remove order options from the order book and thereby remove liquidity. Makers are the ones who put the orders on the order book in the first place.
The main alternative to this is to simply charge “flat” fees. Flat fees mean that the exchange charges the taker and the maker the same fee. At this exchange, they don’t divide between takers and makers, but they charge flat fees: 0.20% of the order value.
0.20% is in line with the current industry average. Industry average has for a long time been 0.25%, but we are currently seeing a shift towards lower fees. Many exchanges now charge e.g. 0.10% or 0.15% instead. Maybe Dcoin Exchange will follow that example as well, but for now the fees are sitting at 0.20% per trade.
Dcoin Exchange Withdrawal fees
Withdrawal fees are normally a fixed amount that varies from cryptocurrency to cryptocurrency. There are however also a number of exchanges that charges a certain percentage of the withdrawn amount as the withdrawal fee.
This exchange charges the customary fixed withdrawal fee. To be specific, Dcoin Exchange charges 0.001 BTC when you withdraw BTC. This is in line with, or actually slightly above, the global industry average BTC-withdrawal fee. The global industry average BTC-withdrawal fee is 0.000812 BTC per BTC-withdrawal.
All in all, Dcoin Exchange’s fees are in line with the industry averages.
This exchange does not accept any other deposit method than cryptocurrencies, so new crypto investors are restricted from trading here. If you are a new crypto investor and you wish to start trading at this exchange, you will have to purchase cryptos from another exchange first and then – as a second step – deposit them here. Don’t worry though, you can find a so called “entry-level exchange” simply by using our Exchange Finder tool.
Dcoin Exchange Security
We run all the exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/). The score in such test is one of many indicators of the exchange’s security. Dcoin Exchange received a D-score in this test. Don’t be overly alarmed though, as D is actually quite standard. Surprisingly enough, F is the Mozilla Observatory-score received by the majority of all exchanges in our Exchange List.
Finally, the exchange reviewed above has a large number of cryptos you can buy and sell. If that is an important factor for you in your choice of exchange, you could also check out the following exchanges: