CoinCorner is a UK-based cryptocurrency exchange that allows new users to register for free and purchase Bitcoin. The exchange, which was founded in 2014, now has over 200,000 members and enjoys regulatory backing. CoinCorner follows the Isle of Man’s anti-money laundering and counter-terrorist financing regulations. However, the platform’s main focus is on Bitcoin.
Almost a decade ago, accessing bitcoin was not as easy as it is today. Most importantly, getting a trusted party was not easy to come by. So CoinCorner emerged to make bitcoin more accessible in a safe and trustworthy way. The platform has been around for quite a while. This means that it’s worth giving it a look.
CoinCorner was one of the first businesses in the UK to accept credit and debit cards for Bitcoin purchases in 2014. The platform announced EUR support in September 2015 and began rolling out its services across Europe. CoinCorner introduced GBP card withdrawals in September 2018. The company has since recorded several impressive feats.
Molly Spiers, head of Marketing and Communications at CoinCorner told Altcoin Buzz about the company,
Now let’s review the platform.
Newbies will find CoinCorner a simple and straightforward platform to use. You can make deposits with a SEPA, credit or debit card, Neteller, or bank transfer. It takes about ten minutes to get registered. The firm has a defined purpose, and its services revolve around purchasing, trading, and storing Bitcoin. Experienced crypto traders, on the other hand, are likely to be frustrated by a lack of currencies accessible to trade and some extra cost.
Generally, CoinCorner has a simple and easy interface. Unverified users can also deposit up to £251 and make one daily transaction. It is noteworthy to know that you’ll need verification before withdrawing. However, this is a straightforward procedure that you can complete by simply uploading images of your national ID card to the website.
Compared to other cryptocurrency exchanges, CoinCorner has a number of advantages. The platform is easy to navigate, and selecting particular crypto is simple. You can also pay in fiat currencies such as GBP and EUR with just a few clicks. The platform allows you to build a diverse investment portfolio using crypto-to-fiat.
Fees are built around a layered system when it comes to purchasing and selling crypto with CoinCorner. The lower the amount you trade, the lower the cost will be. If you purchase or sell more than 300 GBP/EUR, you should expect to pay a fee of up to 1%. One of CoinCorner’s bonus points is that there are no fees or limits on how much Bitcoin you can receive.
Pros and Cons for CoinCorner
In terms of security, CoinCorner allows you to use the Google Authenticator app to add two-factor authentication to your account. You can also activate account notifications in your preferences. This way, you’ll get an email after a successful or unsuccessful login or any transaction. As a result, you can keep track of the safety of your account.
CoinCorner is no doubt a stalwart of the bitcoin ecosystem. However, there are a few things to note while navigating.
- Requires little upfront investment.
- Account creation is simple and free.
- You can earn Bitcoin cashback with any of CoinCorner’s partner retailers.
- The interface is simple to use.
- The Isle of Man Financial Services Authority regulates the platform.
- They have a great debit card, The Bolt Card, linking your account to the Lightning Network for BTC payments
There are also a few disadvantages to using the platform.
- Some withdrawals and deposits come with high fees.
- Prolonged registration period
- Outside of the UK, the cost of bank deposits and withdrawals is high.
- It supports a limited number of cryptos.
How to Sign Up
As mentioned earlier, signing up for this platform is a pretty easy step and can be completed within ten minutes. For some people, that’s too much registration time. Here are the steps to take.
- Go to the CoinCorner website and click on “Register”.
- Submit details such as date of birth, name, email, mobile number, source of funds, etc.
- Confirm your email to activate your account.
- You might need to submit your ID for verification.
Details on the Mobile App
The CoinCorner wallet is embedded within the CoinCorner app, which is available for Android and iOS. This software includes all of the exchange’s services, such as sending and receiving, selling, storing, transferring, and buying Bitcoin.
It also provides a simple and quick way to send and receive Bitcoin from other users. Users can also use the QR code to send Bitcoins. The mobile app provides a lot of useful functions and ensures that the customer’s money is safe.
We can safely conclude that CoinCorner has some impressive features and a solid history behind it. However, we strongly advise you to carry out independent research before moving forward on any platform.
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