How to get to know the cryptocurrency exchange that you can trust?

Recent developments on the Polish crypto market, when the stock markets established by the Poles decide to terminate their activities for various reasons, pose a number of questions for us. Which platforms should you trust? What situations do stock exchanges have to face? Is there an exchange that actually guarantees the security of our funds? And if so, how is it done and how to recognize it? And most importantly, does this exchange offer deposits and withdrawals in PLN?

This is a good moment to analyze the features and offers of stock exchanges available on the Polish market. Today we will check what the young CoinDeal stock market is under the collar. Does it meet all the procedures important for security and does it effectively protect against unpleasant situations that have recently occurred and affect the image of the entire industry badly?

Taking care of the highest quality security and satisfaction of its users is the goal of the Coindeal Stock Exchange. Let us then overthrow some stereotypes and answer the uncomfortable questions in this industry.

The stock market must have overt cold wallets

Often stock exchanges avoid this topic and provide information about their portfolios in public. Why? Knowing the portfolio address of a given exchange, the user is able to track the funds on it. Thus, verify whether the stock market boasting of its turnover really has such large funds. It is worth comparing the stocks of exchanges in order to assess whether the given platform is indeed solvent and whether it does not manipulate the position on the coinmarketcap.

The cold wallet address of the CoinDeal exchange has already been available some time ago (at the request of Polish traders) for anyone interested, including on their official Facebook page.

The stock market can not have anonymous users

The less demanding verification process, the more the stock market attracts cheaters and frauds. Many stock market users are unaware of the importance of proper verification. This can best be explained on the basis of the true story of CoinDeal's life.

CoinDeal co to jest? Jaką giełdę kryptowalut warto wybrać w 2019 roku?

"100,000 dollars have been stolen from me. And what will the stock market do with it now? "

CoinDeal had to deal with the case of taking over the coins by the fraudster. A user reported the theft of funds not on the stock exchange but in the wallet. They were not little money, because the equivalent of the funds was almost $ 100,000.

The thief did not waste any time and he immediately began to sell stolen funds on the stock exchange. Thanks to CoinDeal's prompt response, suspicious transactions were detected and the funds as well as the market itself were immediately blocked.

This user has been asked to prove the legal possession of the stolen funds. He sent a confirmation, which was also considered false. The amount of funds purchased was greater than the daily turnover of the exchange at which they were allegedly acquired.

Full verification allowed for the detection of this user, direct contact with him, clarification of the situation and recovery of stolen funds.

The stock exchange should require so-called two-factor authentication

It is in this way that I log into the crypt exchange, e-mail accounts, Facebook and our editorial Slack. I would recommend!

A responsible exchange should require two-factor authentication, known even from banks, e.g. by means of an SMS or Google Authenticator application. The important thing is that it is not enough to just confirm payments on the e-mail. Thanks to the introduction of this type of login, CoinDeal can say that no user has ever been robbed. All you need to do is to follow the opinions about exchanges that do not have this security to convince you that hacking users' accounts is an everyday reality.

Are there any attempts to falsify your identity?

Unfortunately, the CoinDeal exchange support is struggling every day with situations where the user tries to pass the verification process with counterfeit documents. There are even cases of giving false identities or creating accounts for elderly people who are not allowed to trade on the stock exchange. Of course, money is involved here. CoinDeal support, like a real detective office, checks all documents very carefully, and accounts are approved manually. If the agent is not convinced of the trustworthiness of a given user, a request is made for an additional step in verification, i.e. a video call.

Exchange support must be answered

If the stock market does not answer users' questions and has not announced a temporary delay in the forum, do not keep the funds there. The credibility of the stock exchange is best checked by asking for, for example, addresses of cold wallets for BTC. If we do not get any answer, let's withdraw funds. Unfortunately, such an exchange will not help us if we get stuck, if the payment or payment is lost, or in any other situation. It is not worth risking. Unfortunately, many exchanges do not write back and do not give any answers, and yet users entrust them with funds.

What about the deaths of people accepting transactions coming out of cold wallets?

Some stock exchanges use the so-called 2 in 2 system, this means that cold wallet transactions must be confirmed by two of the two authorized people. CoinDeal protects itself against the situation of unavailability of one of the partners using a 3-by-5 ​​system - all you need to do is accept three out of five authorized persons.

How does the exchange protect its funds against hackers?

98.6 percent Funds on CoinDealu are kept OFFLINE, which means they are out of reach of any computer systems. In the event of a catastrophic hacking, the company may lose a maximum of 1.4 percent. their means.

Development is behind development ...

CoinDeal - opinie, giełda kryptowalut PLN, bezpieczeństwo

CoinDeal also cares about the convenience of using the platform. The Stock Exchange gives Polish traders the option of deposits and withdrawals in PLN via a bank transfer and Skrill. In addition, it expands its offer with the new currency fiat, which is the Swiss franc. Users can now use 6 markets with fiat currencies, including: PLN, EUR, GBP, USD, RUB, KRW, and now also CHF, which will give the opportunity to trade in hand with bitcoin. In addition, the stock market recently introduced the possibility of paying out USD through a bank transfer.

In addition, the CoinDeal exchange has been granted VQF membership, which allows you to start operations in Switzerland as VTS Swiss. The company has had an office there for a long time and is one of the few crypt exchanges that can boast of the Swiss VQF license, which confirms its financial credibility.

Meet CoinDeal

You can find more information about CoinDeal on the official website , the Polish profile on Facebook , on Twitter , on YouTube and on the blog in the medium .



How to get to know the cryptocurrency exchange that you can trust?

Comments

  1. You know, I recently started to get involved in cryptocurrency and so far I can’t afford bitcoin. However, I am very attracted to the usdt cryptocurrency and therefore on the Switchere.com website I decided to buy usdt with gpay, which seemed to me a very convenient solution. On this exchanger, I found a lot of useful information, as well as the possibility of buying different types of cryptocurrencies at fairly competitive prices. I am sure this information will be useful to many cryptocurrency enthusiasts.

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