CoinCorner Review (formerly Coinfloor)

CoinCorner Review (formerly Coinfloor)

Robert McDougall 

June 21, 2022

Cryptocurrency

What is CoinCorner?

CoinCorner is a Bitcoin-focused crypto platform that allows users from all over the world to purchase, sell, send, receive, and hold BTC with ease. CoinCorner was established as an easy pathway for casual users to quickly and efficiently purchase and sell Bitcoin without facing massive hurdles. To that end, it has integrated several popular payment methods within its platform and has a hassle-free signup process and beginner-friendly layout, making it easy to get started.

CoinCorner was originally launched in 2014 with the name CoinFloor, but CoinCorner acquired it in 2021, and they have been going strong since then. CoinCorner is currently headquartered in the Isle of Man and has several offices around the world. Though its initial aim was to cater to users living within the UK, CoinCorner has come a long way and now supports users from many different countries. It does not, however support users from the US and other big jurisdictions like China or Canada.

  • Web Address: www.coincorner.com
  • Main Location: Isle of Man
  • Cryptocurrencies: BTC only
  • Fiat Currencies: GBP and EUR only
  • Mobile App: Available for Android and iOS devices
  • Withdrawal Fees: Varies depending on the selected withdrawal method
  • Payment Methods: Visa/Mastercard, Bank Wire, SEPA, and Neteller
  • Deposit Fees:  Crypto deposits are free. A fee will be charged for depositing assets through other available methods.
  • Trading Fees:  CoinCorner charges 1% on every trade

My Overall Thoughts on CoinCorner

If you’re looking for a platform that is focused on Bitcoin and can make almost everything related to it easier, better, and more convenient, then CoinCorner is one of the best platforms to choose. Users from more than 35 countries can benefit from CoinCorner’s super easy platform to buy and sell Bitcoin and even have the flexibility to access all of its features right from handheld devices through the mobile app. In my estimation, the following are the things that make CoinCorner a perfect choice for BTC users:

1) Buy and sell BTC with various payment methods: With CoinCorner, users can easily buy and sell their BTC assets instantly. The platform provides a number of payment methods to choose from, and you can also use CoinCorner as a wallet to hold your BTC.

2) The Bolt Card: The Bolt Card is like a debit card for BTC assets and can be used in transactions with various merchants. CoinCorner’s proprietary Bolt Card uses lightning payments to pay the merchants instantly and can be funded from any currency. The Bolt Card comes in a physical form, and users have to apply for it to claim one.

3) Autopurchasing of BTC: Another great option introduced by CoinCorner is that the platform allows their users to buy BTC automatically on a set schedule and time. In short, all you will actually have to do is sit back, relax, and watch your BTC portfolio grow.

The only thing I feel that CoinCorner should work on is expanding their list of supported countries and catering to users from other advanced areas. And of course, the idea of a BTC-only platform might turn some users off, so they could look into expanding to other crypto assets.

Key Features and Advantages of CoinCorner

One thing to keep in mind before opting for CoinCorner as your ultimate crypto exchange is that the platform focuses on a community with very specific needs. CoinCorner only supports BTC—it is the only cryptocurrency that you can buy, sell, send, receive, or hold on the platform. So if you’re looking forward to buying or selling a variety of crypto assets, CoinCorner might not be the right place for you.

If, however, you are solely interested in Bitcoin, there is no doubt that CoinCorner can serve you quite well. CoinCorner has made Bitcoin transactions incredibly easy for users, and a variety of other features offered by the platform are the cherry on top, including:

Negatives and Disadvantages of CoinCorner

While CoinCorner may have caught your attention with its optimal features and options, there are a few things that are holding the platform back, including:

  • BTC-only operations
  • Unavailability in the US and other major areas

What Services Does CoinCorner Offer?

CoinCorner’s services might not revolve around a lot of different crypto assets, but they do have some useful functions that are not only revolutionary but even futuristic. CoinCorner has also made it very easy to collect BTC payments, spend your crypto assets, buy them, sell them, or even send or receive them at your convenience. Users can also get cashback rewards through CoinCorner and save a great deal of money when shopping online. The beginner-friendly layout and autobuying options also bring even further possibilities for users to enjoy on the platform. 

To get a complete idea of all of CoinCorner’s functionalities and offerings, check out my explanation of their services below:

Buy and sell Bitcoin instantly and easily: CoinCorner allows their users to buy and sell Bitcoin almost instantly using a robust dashboard where they can access the buying and selling features. Customers have multiple payment options to choose from, making the platform a great choice worldwide.

Variety of payment methods:  Users can fund their accounts in a variety of ways, which allows them the freedom to choose a payment method with optimal usability, fees, and processing times. Each payment has its own fee structure and limits to keep in mind.

Send and receive BTC with ease: In addition to buying and selling Bitcoin, CoinCorner users can send and receive BTC quite conveniently. Pay anyone you want with BTC with the help of CoinCorner’s sending feature, or receive payment from anyone in the world through their receiving feature. The transaction usually finishes within a few minutes, making the whole process fast and smooth. The one-click paying and receiving option makes it especially easy and helps users avoid confusion in the process.

Innovative Bolt Card: The Bolt Card is another innovative feature introduced by CoinCorner to meet their users’ needs more efficiently. The Bolt Card is actually a physical card that can be used at various physical stores or through your phone in order to pay someone.

CoinCorner’s Bolt Card enables lightning-fast payments, allowing users to pay anyone within seconds. You won’t have to convert your fiat assets into BTC when paying someone, though you can also send BTC payments; it does not matter from which fiat currency the payment is funded. Users can also enter a monthly lucky draw to win BTC just by using their Bolt Card.

Mobile apps for Android and iOS: CoinCorner also has mobile applications available that allow their users to fulfill their crypto needs right from their handheld devices. CoinCorner's apps can be downloaded on Android or iOS devices from their respective stores.

The apps come with pretty much all of the features available to PC users. You can buy, sell, send, receive, and earn BTC or use the app as a wallet. These mobile applications save a lot of time and hassle for customers, as they can quickly access their funds with a single tap on their smartphones.

Simple, beginner-friendly platform: CoinCorner is a relatively simple and beginner-friendly platform, with no complicated features or functions that would be hard for crypto newbies to understand.

Users with no experience with Web 3.0 or crypto assets can easily get started with CoinCorner and start using their services. As CoinCorner focuses on a single crypto asset, Bitcoin, users won’t have to worry about understanding the other hundreds of cryptocurrencies.

Customers can get started with CoinCorner quite easily and quickly. You won’t have to go through videos or guides to understand how CoinCorner works, as pretty much everything is clearly defined and easy to use.

Autobuy Bitcoin: One unique feature introduced by CoinCorner allows users to autobuy Bitcoin at defined intervals without doing anything—literally.

Through this feature, you can easily grow your portfolio without the hassle of constantly making purchases. The automated process will save your time and energy, and you will have a bigger portfolio every single time you check it.

You simply have to initiate a standing order with your bank and create a schedule for autobuying BTC, then relax and watch your BTC holdings grow.

Get BTC cashback when shopping online: CoinCorner offers up to 40% BTC cashback to their users who shop with their partners. Users simply have to download an extension and CoinCorner provides cashback where possible.

The best thing is that CoinCorner supports cashback through hundreds of retailers and brands, including M&M’s, Boots, B&Q, size?, and many more that you can check out. Cashback is a great way to spend money and get something in return!

CoinCorner Checkout for business users: If you run a business and want to accept BTC payments from your buyers, users, or merchants, CoinCorner Checkout can help you out. CoinCorner Checkout is a feature specifically introduced for business owners who want to accept crypto assets as payments.

There are many benefits to using CoinCorner Checkout: the platform charges only a 1% processing fee on every transaction; there are no charge-backs with Bitcoin, eliminating the factor of fraud; and buyers from all over the world can use this payment method.

With a very easy and quick setup, the CoinCorner Checkout feature can be up and running for your business within minutes. 

Trusted and secured crypto platform: CoinCorner is a safe and secured crypto platform that has been in the industry for almost a decade now. The platform has been trusted by over 200,000 people from all over the world. 

With all its security features and account protection measures, CoinCorner provides its users peace of mind when using its financial services. If you have enabled all the protective measures, you won’t have to worry about losing your funds or private data, or being hacked by anyone. 

Great affiliate program: CoinCorner has an affiliate program that pays both the affiliate and the person being referred. You can earn £10 every time someone joins CoinCorner and spends £100 on the platform through your affiliate link.

There is no cap on the referrals—you can bring as many people as you want onto the platform. Earning through referrals can be a great side income if you have a large reach on social media and influence among the crypto community.

Things I Don’t Like about CoinCorner

CoinCorner has definitely introduced some of the most unique and beneficial features on the market in the crypto community. But on the other hand, there are a few things about the platform that should be taken into consideration before you sign up. My main concerns with CoinCorner are below:

BTC-only platform:  There are currently over 10,000 cryptocurrencies in use on the internet. Of course, more than half of them are useless and are based on memes or faulty concepts. But there are many assets, too, that hold value and can do great in the future. The thing is, CoinCorner only supports the godfather of those cryptocurrencies—Bitcoin—and no other assets. Bitcoin is the only asset that you can buy, sell, send, or receive on the platform, and it does not appear that CoinCorner currently has any plans to add additional crypto assets that would attract more users.

Not available in the US and other major areas: CoinCorner is available in about 40 countries, and the list mainly consists of countries in Europe. CoinCorner does not support users from the US, Canada, China, or other major areas where they might otherwise get a lot of attention and users. Of course, various regulations in those countries are probably to blame, but with some work on its compliance issues, CoinCorner could gain tons of potential users and expand into more countries. 

CoinCorner Fees

CoinCorner Deposit Fees

The CoinCorner deposit fees can be seen below:

  • Bank Transfer GBP (UK): Free
  • Bank Transfer GBP (International): 25 GBP
  • Bank Transfer EUR (SEPA): Free
  • Debit/Credit Card: 2.5% of the whole transaction
  • Neteller: 3.2% of the whole transaction
  • Bitcoin: Free
  • Bitcoin Lightning: Free

Keep in mind that every deposit method comes with its own limits and minimum deposit amounts. Make sure to consider this aspect before initiating a deposit.

CoinCorner Trading Fee

The trading fee or buying/selling fee at CoinCorner varies depending on the amount you’re trading. But a good rule of thumb is that the trading fee at CoinCorner is about 1% of the amount you’re trading.

CoinCorner Fiat Withdrawal Fee

 The CoinCorner fiat withdrawal fees can be seen below:

  • Bank Transfer GBP (UK): 1 GBP
  • Bank Transfer EUR (SEPA): 35 EUR
  • Debit/Credit Card: 0.80 GBP/1 EUR

Again, the minimum withdrawal amount varies depending on the withdrawal method.

CoinCorner Crypto Withdrawal Fee

The crypto withdrawal fee or BTC withdrawal fee at CoinCorner varies depending on the market conditions. It may be low at some points and high during others.

Pros and Cons of CoinCorner

Pros
  • Instant BTC buy and sell
  • Several payment methods available
  • Innovative Bolt Card
  • Great mobile applications
  • Send and receive BTC with ease
Cons
  • Not available in the US and some other countries
  • BTC-only platform

The Verdict

This platform, which was started with only the mission to make buying BTC easier, has now achieved great heights. And one of the best things about CoinCorner is that they’ve been expanding their services ever since. Between introducing more payment methods, integrating the autobuy option, launching the Bolt Card, and developing professional mobile apps, CoinCorner has established itself as a premier single-asset platform. Extra perks, like the ability to send and receive BTC, use CoinCorner Checkout for business purposes, or get up to 40% cashback while shopping online, add even more value. 

If CoinCorner introduced more crypto assets and supported users from more countries, it could see even greater success. CoinCorner is not available for US residents, so if you are from the US, you can read our article on the best cryptocurrency exchanges in the USA. There is also a quick comparison table below to help you with your decision.

Comparison Table of the Best Crypto Exchanges in the USA

eToro
MEXC Global
Pionex
Coinmama
Uphold
Crypto Exchange
Crypto Exchange
eToro
MEXC Global
Pionex
Coinmama
Uphold
Fiat Currencies
Fiat Currencies
USD
USD, TWD, AED, PHP, AUD, JPY, CAD, EUR & more
USD, TWD
USD, EUR, AUD, CAD, GBP, JPY
USD, GBP, EUR, CHF, AUD, JPY & 21 more
Cryptocurrencies
Cryptocurrencies
BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA & 75 more
MEXC, BTC, ETH, EOS, BCH, LTC & 1,520+ more
BTC, ETH, LTC, SOL, DOT, TRX & 120+ more
BTC, ETH, ETC, UNI, LINK, LTC, BCH, DOGE, MATIC, EOS, AAVE, COMP, OMG, YFI, WBTC
BTC, ETH, ADA, DOGE, COMP, DOT & 125+ more
Deposit Methods
Deposit Methods
PayPal, Debit card, Credit card, Wire transfer, Online banking
Visa/Mastercard, Bank Cards, Bank Transfer, Apple Pay, Google Pay, Cryptocurrency
Credit card, Cryptocurrency
Credit card, Debit card, Fedwire, Apple Pay, Google Pay
Bank Transfer (ACH), Bank Transfer (SEPA), Debit/Credit Card, Wire Transfer, Faster Payments Service, SWIFT, Cryptocurrency
Trading Fees
Trading Fees
1%
0.2% for spot, 0.02%/0.06% for futures
0.05%
2.93% - 3.90% (depending on loyalty level)
Fees included in the spread

eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. "Virtual currencies are highly volatile. Your capital is at risk."

Frequently Asked Questions

Is CoinCorner a legit crypto platform?

CoinCorner was first known as CoinFloor but was acquired by CoinCorner later on. But it definitely is a legit and safe platform for users who want to buy, sell, send, or receive BTC assets.

Can US users use CoinCorner?

No, users from the US cannot use the services of CoinCorner. The platform does not yet comply with the regulations and laws of the US and other major countries like Canada and China.

Is CoinCorner a beginner-friendly platform?

 It is really simple and easy to use CoinCorner. Every single feature available on the platform can be understood by an amateur. So yes, CoinCorner is a beginner-friendly platform.

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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