Comprehensive Review of Divicoins

These days, almost everyone has heard about cryptocurrencies. If you missed the train or are simply looking to change exchanges, our review of Divicoins will help you evaluate the platform from all angles and decide if it deserves your attention. We will analyze the trading conditions offered to clients and try to answer whether it’s safe to open an account on this platform.

Highlights

Key Trading Features

The trading conditions offered here are not very diverse. The exchange mainly provides the option to buy cryptocurrencies on the so-called spot market, meaning you can purchase crypto at the current market price. There are no options for margin trading or futures markets.

It’s also difficult to fully explore the trading conditions because Divicoins requires you to complete a verification before purchasing any cryptocurrency. This is likely due to the platform working with fiat currencies. If you were buying crypto with other crypto, the KYC requirements might be somewhat less stringent.

Overall, the range of services offered is quite narrow, and so are the trading conditions. The minimum lot sizes for cryptocurrencies are not specified anywhere. Again, they will likely become available only after completing verification.

A strange detail: during registration, we noticed that emails from support came from an address named Civicoins. Of course, this isn’t critical, but it raises questions — why did Divicoins suddenly become Civicoins? Was this intentional, or did someone set up the email with a typo?

Overview of Available Trading Instruments

Unfortunately, there isn’t much to be excited about regarding trading instruments either. The main page states that traders can buy Bitcoin, Ethereum, Tether, and Litecoin. And that seems to be the case — there are no other mentions of altcoin listings or available trading pairs.

For a top-tier exchange, this is far from impressive. First, there’s a lack of transparency. Second, why go through the hassle of registering an account on a semi-anonymous platform when you can use well-known, top-tier exchanges offering a wider range of assets? These platforms also clearly inform you in advance of what you can buy and at what price. On most top-tier platforms, spot prices are available without requiring registration.

Trading Platform Analysis

As mentioned, verification is required to access the Divcoins trading platform. However, we can already say that it’s not a classic trading terminal in the traditional sense. You will likely buy cryptocurrency through a personal account interface. You’ll need to fill out an order form, and once confirmed, the trade will be executed. There are no tools for technical or graphical analysis.

In general, Divicoins doesn’t seem designed for active traders but for those who want to make occasional purchases and hold their assets long-term. So, don’t expect advanced trading tools or a functional trading terminal here — it seems there won’t be any.

Additional Services

The lack of additional services is glaring. Essentially, there are none. As stated, you can only buy cryptocurrency here. You probably can’t even sell it. This is a far cry from top-tier platforms that offer clients entire ecosystems of additional services. Even staking would have been a welcome feature. It’s surprising that Divicoins entered the market with such a limited product offering.

Fee Structure

As you might expect, information about fees is not disclosed. But there will undoubtedly be fees since the platform needs to generate revenue somehow. Given that cryptocurrency purchases can be made via Visa and Mastercard, fees for these payment methods may vary. However, this is not made clear to customers in advance. You’ll likely find out only during the purchase process.

Is this convenient? Of course not. Is it fair to users? Doubtful. What if the fees here are even worse than on major cryptocurrency aggregators? We believe that all important costs should be disclosed upfront, allowing customers to make informed decisions.

Legitimacy of Divicoins

While some information about the project’s legitimacy is provided, it raises a few questions. In the footer, it’s stated that the exchange is Slovakian and operated by Limitless Technologies, with a registration number included. They also claim to be authorized to provide services related to digital currency.

1. However, there is no clear regulatory framework for cryptocurrencies in Slovakia yet. So, why did Divicoins limit itself to just registering the project instead of obtaining a license in a jurisdiction where digital assets are regulated by reputable authorities?
2. Divicoins is authorized to handle cryptocurrency transactions, but what about fiat? The issue is that digital asset operations and fiat transactions fall under different regulatory requirements. To be a fully-fledged financial provider, the exchange would likely need additional licenses.

Thus, the company does appear to operate within the legal framework — assuming we take at face value that the project is connected to the managing company, Limitless Technologies. However, this connection is not immediately apparent, not even by name.

Still, the exchange lacks a reliable and transparent approach. Furthermore, it isn’t listed in aggregator rankings like CoinMarketCap.

Cryptocurrency aggregators play a crucial role in ensuring transparency and trust for exchanges. They allow users to compare trading volumes, available assets, fees, and platform reputations. Exchanges that are not listed on these aggregators raise concerns, as users lose the ability to evaluate their reliability and liquidity against more established platforms.

Being featured on these sites helps exchanges build trust with potential clients. It provides visibility and confirmation of their legitimacy to a broader audience. However, Divicoins ignores all of this.

Company History

We had to dig into the Divicoins’ history ourselves, as no information about its start date is provided. Officially, the company was registered in 2023, although the project’s domain was registered back in 2022. How they operated without official registration is unclear. We suspect they weren’t really active until recently, as most updates on the platform are dated to autumn 2024, when the first mentions of this exchange appeared online. So, their actual time in operation is quite short.

Conclusion

If you still want to buy cryptocurrency through Divicoins, no one can stop you. But make sure their offerings are worth the risk. There might be more favorable trading conditions on well-known and reliable platforms. After all, you don’t have to opt for a relatively unknown project with minimal information about it.

Weighing the Pros and Cons

Common Questions