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deepcoin crypto exchange

Deepcoin crypto exchange review and features

  • 6 March 2022
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Deepcoin crypto Exchange is a Singapore-registered exchange that opened on November 11, 2018.

While the Deepcoin crypto exchange also offers spot trading (i.e. regular trading), it is primarily a futures exchange. This means that they focus on derivatives crypto trading. A derivative is an instrument whose price is based on the value of another asset (usually stocks, bonds, commodities, etc.). Accordingly, in the world of cryptocurrencies, derivatives derive their value from the prices of certain cryptocurrencies. You can participate in derivatives trading associated with several different cryptos here.

Deepcoin crypto exchange liquidity

As of the date of first writing this review (June 22, 2021), the 24-hour trading volume was $538.1 million according to Coinmarketcap. The stock market experienced a dramatic decline over the next quarter. On the date of the last update of this review (December 2, 2021) the trading volume was 362 million USD.

Deepcoin crypto exchange Referral program

Deepcoin crypto exchange has set up a referral program for its users through which existing users can refer new users and then earn a commission from the referred users’ trades. The referring user gets 45% of all trading fees generated by the referred user. This means if you (User A) refer a friend (User B) and User B starts trading on the platform, you will receive 45% of User B’s trading fees – forever.

Leveraged Trading

For its cryptocurrency derivatives products, the Deepcoin crypto Exchange allows you to trade with leverage. This means that you can take a higher risk of the price of a given cryptocurrency going up or down without actually holding the required amount of assets. You do this by “leveraging” your trade. Simply put, this means that you borrow from the exchange to bet more. You can get up to 125x leverage on futures (BTC/USD) here.

However, leveraged trades are risky. For example, let’s say you have 100 USD in your trading account and bet that amount on BTC going long (i.e. increasing in value). If BTC then gains 10% in value, you would have earned $10. When you used 100x leverage, your initial $100 position becomes a $10,000 position, so you earn an additional $1,000 instead ($990 more than if you hadn’t leveraged your trade). However, the more leverage you use, the smaller the gap to your liquidation price.

This means if the price of BTC moves in the opposite direction (going down in this example), it only needs to go down by a very small percentage for you to lose the entire $100 you started with. Again, the more leverage you use, the smaller the opposite price movement must be for you to lose your investment. As you might imagine, the balance between risk and reward in leveraged deals is quite finely tuned (there are no risk-free rewards).

Deepcoin crypto exchange Mobile support

Most crypto traders find that desktop offers the best conditions for their trading. The computer has a larger screen, and larger screens can simultaneously display more important information on which most traders base their trading decisions. The trading chart will also be easier to view. However, not all crypto investors and traders need desktops for their crypto trading. Some prefer to do their crypto trading through their mobile phones. If you are one of these traders, you will be pleased to know that the Deepcoin crypto exchange’s trading platform is also mobile compatible. You can download it on both AppStore and Google Play.

Deepcoin crypto exchange trading view

Each trading platform has a trading view. Trading View is the part of the exchange’s website where you can see the price chart of a specific cryptocurrency and its current price. There are also usually buy and sell boxes where you can place orders on the relevant cryptos, and on most platforms, you can also view the order history (i.e. previous transactions on the relevant cryptos). All in one view on your desktop. Of course, there are also variations on what we have now described. This is the trading view on Deepcoin crypto exchange (obviously on a very bad day for Bitcoin):

It is up to you – and only you – to decide if the trading view above is right for you. Finally, there are usually many different ways you can change the settings to customize the trading view to your very own preferences.

Deepcoin US investors

Why do not many exchanges allow US citizens to open accounts with them? The answer has only three letters. S, E, and C (the Securities Exchange Commission). The reason the Securities and Exchange Commission is so frightened is that the United States does not allow foreign companies to apply to American investors unless those foreign companies are also registered in the United States (with the SEC). If foreign companies still court US investors, the SEC can sue them. There are many examples of the SEC suing crypto exchanges, one of which was when it sued EtherDelta for operating an unregistered exchange. Another example was when they sued Bitfinex, claiming stablecoin Tether (USDT) was misleading investors. More cases will likely follow.

Deepcoin crypto Exchange does not allow US investors on its exchange. So if you’re from the US and want to do crypto trading, you’ll have to look elsewhere. Luckily for you, if you go to the exchange list and use our exchange filters, you can sort exchanges based on whether or not they accept US investors.

Deepcoin Exchange Fees

Deepcoin exchange trading fees

Each time you place an order, the exchange will charge you a transaction fee. The trading fee is usually a percentage of the value of the trade order. A distinction is usually made between takers and makers on stock exchanges. Takers are those who “take” an available order from the order book. Makers are those who add orders to the order book, thereby creating liquidity on the platform.

At Deepcoin crypto exchange, standard trading fees are 0.10% for takers and 0.09% for makers. Both 0.10% of taker fees and 0.09% of maker fees are well below the global industry average for centralized exchanges. The industry average has historically been around 0.20-0.25%, but we are now seeing new industry averages around 0.10%-0.15%. According to the latest empirical study on the subject, the industry-standard taker fees were 0.215% and the industry-standard maker fees were 0.162% (for spot trading).

Consequently, Deepcoin Exchange’s fees are well below these two industry averages.

Deepcoin Exchange Withdrawal Fees

Withdrawal fees are usually fixed and different from crypto to crypto. When you withdraw BTC, you pay a small amount of BTC for the withdrawal. When you withdraw ETH, you pay ETH. The last time we conducted an empirical study of BTC withdrawal fees in the crypto exchange market, we found that the average BTC withdrawal fee was 0.00059 BTC per BTC withdrawal.

We could not find any information about the withdrawal fees of this exchange. This is a risk for you as an investor and trader. If an exchange doesn’t list a fee, there’s a higher risk that that fee will be high. As soon as we receive information about Deepcoin crypto exchange withdrawal fees, we will update this review and post it here.

Deepcoin Deposit Methods

To trade here, you must first have cryptocurrency. The only asset class you can deposit at the Deepcoin crypto exchange is cryptocurrency. However, if you really like Deepcoin Exchange but don’t have cryptos yet, you can easily open an account with an exchange that has “Fiat-On-Ramps” (an exchange where you can regularly deposit cash), buy crypto there, and then transmit it from such exchange to this exchange. Use our exchange filters to easily see which platforms allow bank transfers or credit card deposits.

What features does the Deepcoin trading platform offer?
  • The application has some decent reviews on Google Play.
  • Cash Market – Deepcoin offers approximately 100 different digital assets for trading on their cash exchange.
  • In their derivatives market, users can find permanent USDT contracts and permanent reverse contracts.
  • Deepcoin claims to have a robust third-generation transaction system.

They launched their K-Line Quick Trading feature, which means to enable one-click K-line trading, making it quicker and more efficient to handle and execute orders. This feature gives users the option to place and edit trades directly on the chart without the need to toggle between the order pages.

The platform also allows users to complete various business operations on the Kline efficiently. This includes setting leverage, setting Take Profit or Stop Loss (TP/SL) prices, and adjusting orders. With Deepcoin, users have access to at least 3 TP/SL modes that can help with risk control and profit management. First is the ability to set a TP/SL for the full amount of the position. Alternatively, a user can also set a TP/SL with a partial amount of position margin. Additionally, a user can also set a conditional TP/SL which would allow them to set a trigger price which essentially triggers the position to be closed at a specific price.

Spot Market

What is unique about this feature is that users can set take profit and stop-loss points at any time on open positions and pending orders, for greater flexibility when it comes to risk control. Furthermore, the Deepcoin crypto exchange also makes it possible for users to effectively set up to 50 take profit and stop-loss orders for the same position, with different margin amounts and at different prices. Limit orders include this, meaning a user may better prepare to manage risk at any stage of their investment cycle.

Provides the ability to order up to 20 positions with split leverage or merge leverage up to 125x, and set up to 50 TP/SL positions on each position. Effectively, users can hold multiple positions with different leverages in the same coin. Setting a split position allows the user to choose and adjust the leverage at multiple entry points independently. Users can also add margin to the position and even merge the separate ones as they wish.

Other features include Deepcoin double price settlement, trailing stop, etc.

What is a Deepcoin token (DC token)?

The DC token is described as an ecological token. It is an ERC-20 token that runs on the Ethereum Blockchain. DC is said to have a hard cap and never have a public subscription. DC Token does not focus on burning tokens after releasing a large amount of supply on the market, but supposedly associates the unlocking of tokens on the public market with the price of the token and it is said that each round of unlocking can add 1% to the total supply. The Deepcoin crypto exchange also introduced the concept of DC Points whereby corresponding holders, based on the proportion of DC Points they hold, are rewarded with DC Tokens that are purchased on secondary spot markets. DC token data is now not tracked on the Coinmarketcap website.

Conclusion

According to the Deepcoin crypto exchange, they offer support in multiple languages, including English, Chinese, Japanese, Russian, and Portuguese. The platform provides Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and other digital assets. They are also known for their derivatives trading services. There is not much information about Deepcoin on review sites like TrustPilot for example, so it is always advisable to do your research before using any trading platform.


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