Deepcoin Cryptocurrency Exchange Review : Pros & Cons

About Deepcoin

Deepcoin is a Singapore-based centralized exchange (CEX) offering spot trading, derivatives, wealth management, DeFi investment, and other comprehensive financial services. It is reportedly registered in the Republic of Seychelles with a company number of 206025. Deepcoin claims to have obtained three major authoritative regulatory licenses, including the United States NFA, the United States MSB, and the Canadian MSB. The crypto derivatives trading platform is primarily aimed at the Asian market. It offers a handful of innovative products like Super Saving, Lucky Money, and Options FX.

Information Table

How To Register At Deepcoin Exchange ?

To register on Deepcoin, click Register Now button at the top of the page. You can also start creating an account directly through the form on the main page.

You only need to enter your e-mail and come up with a password. If there is a referral code, it is also entered at this stage. Password requirements: at least 8 characters, numbers, upper and lower case.

Click ” Create Account ” then go to your email to verify it. Enter the code you received and registration is complete. You can start replenishing your account.

How To Verify Your Deepcoin Cryptocurrency Account ?

There is no mandatory verification at Deepcoin, but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal limit of FREE. In the future, depending on the actions of regulatory authorities, conditions may change.

For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the Deepcoin, Revolut platforms.

How To Buy Crypto Or Deposit Crypto At Deepcoin Crypto Exchange?

There are two main options for topping up your balance on Kraken. Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.

Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.

After that, you will need to select a payment channel: each of them has conditions. You can choose between Simplex, Mercuryo, Banxa and Moonpay. Click ” Buy ” next to the appropriate option.

Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.

Second Method

You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:

• Go to the “Deposit” section from the “Assets” menu.

• From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
• The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
• You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.

How To Withdraw Crypto Asset From Deepcoin Exchange ?

Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.

Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.

How To Secure Your Deepcoin Account ?

Also remember to go to the Security tab and activate two-factor authentication using the Google Authenticator app – this is the most reliable way to prevent unauthorized access to your account.

Lowest Fees in the Industry

Fees are yet another hot topic that you’ll find discussed and mentioned in various user Deepcoin reviews, all around the internet. And with good reason, too – depending on the fees present on the exchange, your potential profit margins can vary, significantly.

Fees are also one of the most competitive aspects for the exchanges themselves, too. All crypto exchange platforms aim to provide their users with better fees than their competitors, while also managing their operation costs and profits, as well.

Deepcoin Fees

Deepcoin offers a commission rate of 0.10% for both takers and makers in its Spot trading market. However, as of September 2022, all spot trading at Deepcoin Exchange was free.

Deepcoin Team

Features Of Deepcoin Crypto Exchange

Available At Android & IOS Store

Deepcoin Cryptocurrency Exchange exchange application available on both world famous mobile store google play store and iOS store . You Can download App and start trading .

Fortified Risk Control Systems

Dual-price liquidation protection mechanism to protect highly leveraged traders from incurring significant losses.

Complicated Situation With US Investors

Now, this is one of more-complex issues that relate to Deepcoin. In order to understand it thoroughly, though, you’ll need to first understand both sides of the deal. All of the financial service-offering institutions that operate in the US have to follow strict guidelines (among which KYC is included, by the way), and are monitored closely by the SEC – Securities and Exchange Commission. This, however, also extends to off-shore exchange platforms.

Customer Support

Proper customer support is probably one of the most underrated features, when it comes to crypto, in general. For the longest time, customer support, as a concept, was non-existent within the space, simply due to one, single factor – decentralization. However, with crypto becoming more and more popular, many centralized exchanges start offering live support, too.

Select & Trade On Chart

Deepcoin’s exclusive innovation that provides you with the option to place trades and edit them directly on the chart without switching back and forth between the order page. When the market changes rapidly, you can select the spot right on the chart and place an order within seconds.

Complete Position Management

With this powerful function, you can complete various trading operations on the K-line intuitively and efficiently, including setting leverage, setting TP/SL prices, and adjusting your orders. When the market changes rapidly, you can select the spot right on the chart and place an order within seconds.

Robust 3rd Gen. Transaction Matching System

Ensures that all core operations are completed within a 10th of a second.

Smarter Trading Tools

Deepcoin offers independently developed and exclusive functions such as K-Line Quick Trading, dual-price liquidation, trailing stop, and more functionality that enables traders to make smarter investment decisions.

Flexible to Your Strategy

With the ability to order up to 20 positions with split leverages or merge leverage up to 125x, and set up to 50 TP/SL positions on every position, they can meet the risk appetite of traders at all levels.

Decent Security Measures

Whenever you’re looking into anything-crypto, security is the name of the game. The Deepcoin exchange shouldn’t be any different – whether it’s an exchange, a wallet, or some sort of a dApp, if the platform lacks security, it’s fundamentally way too risky to be used, in general. While this is not a concept that’s discussed among user Deepcoin reviews all that often, I’m happy to tell you – Deepcoin does, for a fact, employ time-tested security measures.

Partial Fiat-Crypto Support

Fiat money (USD, EUR, etc.) support is one of the most important features of any high-end, reliable cryptocurrency exchange that isn’t a DeFi project (in other words, that’s not a DEX). I would go as far as to say that it’s pretty obvious why that’s the case, too. With crypto slowly becoming truly mainstream, more and more people are looking to get themselves some coins or tokens. Naturally, whether you’d want to acquire DC Coins, or any of the top-performing cryptocurrencies out there, you’d always prefer to do so with fiat money.

Deepcoin Conclusion

In a world where there are seemingly countless numbers of crypto exchanges available to be accessed, checked out, and used, picking out the best option for yourself can become a really interesting challenge, pretty fast. However, every once in a while, you might come across exchange platforms that offer some truly interesting and unique benefits.

The vast majority of user Deepcoin reviews will tell you that this particular exchange is definitely unique! Being focused on derivatives trading, Deepcoin still allows users to trade cryptos the traditional way (Spot market). That said, if you’d like to trade derivatives, you’ll be able to access up to 125x leverage – that’s notable!