Decoin is a centralized cryptocurrency exchange and trading platform founded in Seychelles in 2017. Decoin crypto exchange offered a whole range of features that make participation and crypto trading more profitable for its users. The platform was based on a Proof-of-Stake blockchain system that supports high transaction speeds at an affordable cost. Also, Decoin was one of the exchanges providing copy trading.
Decoin cryptocurrency exchange claimed to be taking every measure to prevent fraud. As a result, it was fully compliant with KYC and AML regulations for the trading of digital assets. Users had to verify their identities to use the platform's services.
Decoin did not have explicit prohibitions against users from any jurisdiction. However, users can form their own opinions on the permissibility of their trading at the Decoin crypto exchange after reviewing their local authority's laws and regulations. Decoin’s web application was available in desktop and mobile formats.
However, as of February 2023, the Decoin exchange's website is down as well as there's no info about the Decoin trade volume or other statistics.
Markets
Decoin offered both spot and margin trading. Spot trading offered users quick settlements of their crypto trades. Trades under this product were conducted with the available balances without any leverage. On the other hand, margin trading allowed users to trade with x3 leverage.
Decoin supported crypto-to-crypto pairs. Decoin trading pairs included more than 180 markets. Most of the pairs were traded against USDT and some against BTC.
Decoin crypto exchange has a native token called the Decoin Token (DTEP). DTEP appeared about a year before the launch of the exchange. The main purpose of DTEP was to serve as a decentralized investment vehicle. It facilitated the reward system, ensuring that all the network participants benefit from the exchange's growth. DTEP holders also enjoyed discounts on trading fees. Decoin crypto price is available on the live chart here.
Additionally, the exchange featured its own on-ramp solution, allowing users to make quick purchases of crypto and fiat. However, the platform did not offer crypto withdrawals.
Decoin cryptocurrency exchange also offered copy trading, which allowed users to follow expert traders to maximize their gains. The expert traders selling their positions received a percentage of the profits, which incentivized them to share their knowledge and trades with the rest of the community.
Decoin exchange fees followed a dynamic model. For most pairs, the fee depended on the 30-day Decoin volume and the amount of DTEP stored in the trader's account. The final Decoin crypto fee was calculated by a combination of factors. The fee for users on the highest tier, trading over 1000 BTC and having 50,000 on DTEP, was 0.035%/0.04%. Those on the lowest tier, who traded less than 50 BTC and 0 DTEP, payed a 0.15% fee. However, some pairs had fixed trading fees. In most cases, the fee was 1% for general users and 0.5% for DTEP holders. The platform did not charge any fee on crypto deposits, and withdrawal fees vary across various cryptocurrencies.
Other Services
Decoin also offered an arbitrage bot. The bot is an in-house development, which allowed users to profit from crypto arbitrage. Users did not need any special knowledge or competence to use the product. The Decoin arbitrage bot was available on a subscription basis. Users in higher tiers enjoyed a higher share of profits, ranging from 80% to 90%.
About the Company
Decoin crypto exchange was founded in November 2017. It is headquartered in Tallinn, Harjumaa, Estonia. The project’s first priority was the Decoin cryptocurrency. A key component of the company's newly formed future economy was the token. The first ICO for Decoin was held in June 2018, and subsequent rounds concluded in October 2018. The Decoin website, which at the time exclusively fulfilled this function, hosted the ICO.
Decoin cryptocurrency exchange was finally launched in April 2019. It had few features at the beginning. However, it was already offering some interesting options, such as the arbitrage bot. In June 2019, the platform began spreading its revenues to Decoin token holders, making it the first exchange to share its revenue with users. It also launched crypto banking cards, which allowed users to spend their digital tokens in regular shops. Six months later, Decoin set up its fiat-to-crypto bridges.
At first, the Decoin was launched on its own PoS blockchain. However, in November 2022, the team moved the project onto Binance Smart Chain (BSC).
At the time of writing, no cases of Decoin hacks had been reported. The founders claim that 97% of the platform's assets were stored in a cold wallet, with the remaining 3% insured against any loss.
There is little information available about the Decoin team. The CEO of the company, Shay Perry, is an allegedly experienced Forex trader.
However, as mentioned before, as of February 2023, the Decoin crypto exchange is inactive. There's no reliable information regarding the reason for its inactivity.
