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CoinDeal has originated from years of experience in the cryptoworld. One of our best assets is theoretical knowledge combined with practical experience in trading. Our long-lasting interest in cryptocurrencies and blockchain kept us up-to-date with the way cryptocurrency markets were developing. Our disappointment with the quality of the process prompted us to team up and create a new exchange. An exchange that we ourselves would like to use. An exchange that will meet needs of even the most demanding customers.
WHO ARE YOU? WHERE ARE YOU BASED?
The company behind CoinDeal is Verified Trading Solutions Ltd. based in Cyprus. You can check our company here. Why Cyprus? It’s an European Union member with crypto-friendly legislation. But even though it’s crypto-friendly, Cyprus doesn’t have banks that are ready to enter crypto world.
We decided to establish our company in Cyprus as a temporary solution - our final goal is to get licensed by FINMA (a financial regulator) in Switzerland. We created the company VTS Swiss GmbH (located in Huenenberg) and established it in Switzerland for this purpose. You can check it here and here. This company is not carrying out any operations right now, currently focusing on legal work to get licensed in Switzerland. We will keep you informed about the steps of this process - it might take up to two years. We decided to choose Switzerland because cryptocurrencies are accepted there as means of payment, the law is prepared and financial regulators are willing to control and accept companies like ours. Even though we need to wait this long to get verified by them, we will use our office in Switzerland for some of our operations, such as storing cold wallet keys in deposits or securing company funds in Swiss Banks (but not user funds - we need to obtain a license in order to do that).
Are we developing our exchange market in Cyprus? Only partially. We have 3 offices in 3 different countries: Cyprus, Switzerland and Poland. Poland is a great country for software development - there are plenty of talented IT Specialists there, such as programmers, project managers, scrum masters, testers and many other professionals. Our office in Poland is placed in the heart of the beautiful city of Wrocław - the historical market square.
You may wonder if you can trust a completely new company. Yes, we are new, but we are by no means newbies. We are very experienced in the crypto world - CoinDeal is currently cooperating with:
Verified Solutions Ltd. located in England (a country which has very crypto-friendly law too). This company developing BitcoinAPI- a payment gateway for many cryptocurrencies, and BuyCoinNow.Com - a website where you can buy bitcoins with credit card. CoinDeal is cooperating with both of these very closely. The company has a similar name to ours, which can be confusing, but different co-founders (at least partially) and is not involved directly in developing our exchange market. The company, however, cooperates with us by licensing crypto-solutions, such as accepting payments or performing payouts, but without the access to private keys or any funds of the customers.
Software houses from Poland like MFIT-Group developing computer graphics, frontend and software solutions, experienced in cryptocurrencies and trading solutions.
Many law firms from Switzerland, Cyprus and Poland (at least two per each country).
Companies such as Jumio, ISignthis Ltd, and many other, responsible for Anti Money Laundering (AML) and Know Your Customer (KYC) processes as required by the law.