CoinDeal vs BitBay – Basic information

Bitbay

The BitBay cryptocurrency stock exchange initially belonged to BitBay sp. z.o.o, a Polish company established in 2014 in Krakow, but for legal reasons it was transferred to Malta. Currently, the BitBay exchange belongs to a company registered in Estonia – Pinewood Estonia OU and operates under an Estonian license. The owner of BitBay is Paweł Sobków, and the company itself currently employs over 200 people. BitBay currently has over 400 thousand active users, who perform over 1200 transactions per minute. At present, the total turnover of bitcoin on this cryptocurrencies exchange is over half a million Bitcoins. It is also worth noting that this is one of the few exchanges on the market that allows you to trade in the Polish currency Zloty (PLN)

Register on Bitbay.net

CoinDeal

CoinDeal is a cryptographic currency exchange based in Malta, which was launched in March 2018. The platform has gained “spectacular popularity on the global market”, regardless of its fresh presence in the industry. The Exchange claims that its goal is to develop blockhouse technology “not only in the financial system, but also in other industries around the world”. CoinDeal supports over 40 cryptographic currency pairs as well as fiat currencies, making the platform an ideal exchange for beginners. The team behind CoinDeal prides itself on the transparency, security and innovative character of the platform.

Although it is a relatively new platform, CoinDeal quickly advanced to become one of the best platforms for cryptocurrencies trading. The team behind CoinDeal is made up of co-founders: Kajetan Mackowiak, Adam Bicz and Filip Dzierzak. They all have experience in the industry and have worked on various other brands and marketing projects. CoinDeal attaches great importance to transparency, so a lot of information about the co-founders can be found both on their website and on the Internet. This ensures a high level of trust between the team and CoinDeal users.

CoinDeal vs Bitbay – Deposit and Withdrawal

BitBay

For the benefit and convenience of its customers, BitBay has made available several methods of depositing and withdrawing funds. You can deposit or withdraw funds in currencies such as Bitcoin, Ethereum, Litecoin, Fox, Monero, Bitcoin Cash or Dash. Alternatively, you can also fund or withdraw funds in currencies such as Euro, US Dollar and Polish Zloty. Transfer methods include: cryptographic wallets, bank transfers, credit/debit cards, Polish Post, Express DotPay or Zabka chain stores. Withdrawals can also be made via BitPay direct debit in any ATM accepting MasterCard card.

CoinDeal

At CoinDeal, FIAT currency deposits can be made both by bank transfers and credit cards, making the use of the platform easy and practical for new investors in the cryptocurrencies industry. The Exchange also offers the possibility of making deposits and withdrawals with Bitcoin.

CoinDeal vs BitBay – Fees

BitBay CoinDeal
Fees for making a deposit:
Bank transfer – Free of charge
Cryptocurrencies = Free of charge
Express DotPay, 2%.
Polish Post Office – 2%.
Zabka Express Market – 2%.
 

Fees for making a deposit:
Bank Transfer – Free of charge
Cryptocurrencies – Free of charge
Mistertango – Free of charge
Skrill – PLN Free of charge, other currencies 3%.
Epay – Free

 

In the case of withdrawals, the applicable fees are as follows:
Bitcoin – 0,00045 BTC
Bitcoin Cash – 0,0006 BCC
Bitcoin Gold – 0.0008 BTG
Ethereum – 0,00126 ETH
Litecoin- 0,005 LTC
Lisk – 0.2 LSK
Dash – 0.001 DASH
Game – 0.005 GAME
Bank transfer (PLN) – 4 PLN
Express transfer (PLN) – 10 PLN
Withdrawal of funds from an ATM via SMS – PLN 20
In the case of withdrawals, the applicable fees are as follows:
Bank transfer – 9EUR, 9GBP, 9USD, 9PLN
Bitcoin – 0.0004BTC for nativ Segwit or 0. 0008BTC for addresses starting with 1 or 3
Bitcoin Cash – 0.009BCC
Ethereum – 0.02 ETH
Litecoin – 0.07 LTC
Dash – 0.01DASH
QTUM – 0.02
RIPPLE – 1 XRP
Mistertango – 9EUR
Skrill – 1% + 9PLN, 9EUR, 9GBP, 9USD
Epay – 9USD, 9 GBP
BitBay Transaction Fees are turnover-dependent and range from 0.25% to 0.43% TAKER and 0.17% to 0.3% MAKER. CoinDeal’s transaction fees vary depending on the type of BASIC or PREMIUM account.The MAKER fee is 0.25% for a premium account and 0.3% for a BASIC account. TAKER 0.35% for a PREMIUM account and 0.45% for a BASIC account.

BitBay vs CoinDeal – Customer Services

The BitBay website is available in English and Polish. To ensure customers have access to technical support whenever they need it, BitBay has made telephone support available 7 days a week from 8am to 8pm. Alternatively, if you have frequently asked questions, you can refer to our technical support team to check out their extensive FAQ section.

CoinDeal is quite easily accessible because it has a mobile app that can be downloaded from their website. The website contains various language translations such as Chinese, English, German and Korean, but not only. The stock exchange is present on many social networking platforms and provides 24-hour customer service. The platform is 24/7/365 and allows companies to have separate accounts on the platform.

BitBay vs CoinDeal – Security

BitPay takes security very seriously. All transactions on the website are processed via secure HTTPS connections. In addition, all transfers must be authorized by BitBay employees. Other security measures adopted by BitBay include hidden password, two-factor authentication and cold wallets. In short, BitBay’s security is at the highest level.

When it comes to security, CoinDeal uses a very advanced level of SSL, along with Cloudflare security features. As with many other cryptocurrency exchanges, a two-component authentication system (2FA) is used. Withdrawals require confirmation via email to ensure maximum security and funds are stored in “cold wallets protected by an electronic signature”.

CoinDeal vs BitBay – Pros and cons

BitBay CoinDeal
Advantages:
– Handling withdrawals from ATMs
– Tight security
– Easy to use platform
– Good customer service
– Support for euro, US dollars and Polish zloty
Advantages:
– Friendly interface
– Multiple FIAT currency support
– Support of a large amount of cryptovalute
– Customer service 24/7
– Multi-language support
– Good security
Disadvantages:

– Some services limited to Polish residents
– Limited cryptocurrencies scope

Disadvantages:

– Quite high fees for the payment of funds
– Relatively young platform

Summary

Summarizing the two exchanges, we can see that there are not many differences between them. Both exchanges offer a wide range of deposit and withdrawal methods, good security, customer service and support for all major FIAT currencies and crypto-currency. Looking at the tables above we can see that BitBay offers much better conditions when it comes to commissions for withdrawing our funds, so I use this exchange as a basic exchange myself, and I can recommend it to anyone with a clear conscience. A very useful feature you won’t find in CoinDeal is the possibility to have an ATM card, which allows us to make payments in shops and withdraw money from ATMs directly from our Bitcoins.

Travon Temple
Witold Adruszczak CEO of the Bitcoin-Squad.com project for 3 years associated with the crypto industry. This year we have decided on an international project. Our goal is to build Bitcoin awareness in the world. Education and support for people with no experience in the new industry which are cryptocurrencies. If you need more support please write in the comment. For all I always try to answer questions under the articles.