Coincorner Exchange Review 2024: Features, Fees, and Security Overview

In this article, I will discuss the CoinCorner Exchange, a relatively simple exchange for novice and advanced cryptocurrency users.

Due to its straightforward interface, CoinCorner users can purchase, exchange, and hold a variety of cryptocurrencies.

With a guarantee of security and easy operation, it is also a great option for people who are new to crypto trading.

What is Coincorner?

Coin Corner is an exchange and wallet provider that allows users to buy, sell, and store Bitcoin.

Coin Corner was established in 2014 and is incorporated in the Isle of Man with the great aim of facilitating entry into the coconut market, making it fast and easy for both novices and seasoned practitioners.

CoinCorner has numerous bitcoin services, such as selling bitcoins for bank wire, selling bitcoins for credit cards, and many others, and providing a secure place for the safekeeping of currencies.

CoinCorner is quite popular as it says that customers are supported adequately, and it requires compliance with the rigid rules, making it a reliable site for Bitcoin transactions.

Coincorner Exchange Overview

How to Sign Up on Coincorner Exchange?

Coincorner’s registration is simple and follows the below steps :

Website Search: Search for Coincorner’s website by heading to www.coincorner.com in your web browser.

Register an Account: After reaching the homepage, locate the ‘Sign Up’ icon, which usually is at the right corner of the homepage, and click it.

Create an Account: You must submit your full name and email address and create a secure password. Passwords should be created in a manner that is difficult to guess.

Email Confirmation: After that, CoinCorner will send a confirmation email to the email address you used to sign up. Confirm your email address by going to your inbox and clicking the link in the email you received.

KYC Verification Process: You will be instructed to complete the identity verification KYC process by the rules. There are examples that include submitting an address proof such as a utility bill or a bank statement along with other identification documents like a license or passport.

Set up an Authenticator App (2FA): For enhanced security, set up an authenticator app (Google Authenticator, for example) that makes 2FA work.

Funding Your Coincorner Account: After confirmation, you can proceed to fund your Coincorner account, which can be done through credit card or bank transfers.

Begin Trading: Once you have deposited funds, you can trade, hold, or purchase Bitcoin on the platform.

Telegram Bot

For the convenience of your work, they have developed a smart assistant – a Telegram chatbot, to make the exchange even easier. Now exchange currencies any minute, anywhere, anytime.

Referral Program

Introduce your buddies to Coin Corner and get rewarded with a bonus for every successful exchange they make. So simple, right?

How it works:

How Many Types of Trading Options Available & Services

Cryptocurrency Trading: Coins Corner trading platform facilitates buying, selling, sending, receiving, and storing of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP).

Fiat-To-Crypto: As a user of Coins Corner, you can buy cryptocurrencies with British pounds, euros, and USD dollars.

Recurring Buys: You may also set up regular purchases of Bitcoin with a view to reaching a specific amount of your holdings over a period of time.

The Bolt Card: A contactless Bitcoin debit card that allows for easy spending of Bitcoin just like a regular bank card is called a Bolt Card.

Global Transfers: Transfers of funds from the UK to several countries and vice versa are called Global Transfers.

24/7 Support: Coins Corner clients have dedicated support personnel with an availability guarantee of 24 hours daily.

Telegram Bot: The clients can also use the voice-activated intelligent assistant bot on Telegram, which would further ease the exchange processes.

Is Coincorner Safe?

Yes, CoinCorner is generally viewed as safe. It has existed since 2014 and is registered in the Isle of Man, which has a good supervisory system for financial activities.

Its assets are kept safe with cold storage and multi-signature wallets. Besides, it has a good image and a broad customer base.

But, like with any other exchange, you should also ensure that you have strong security measures on your side, such as using two-factor authentication and establishing a secure network connection.

Are you interested in learning more about securing your account while using CoinCorner or other cryptocurrency exchanges?

Coincorner Exchange Features

User-Friendly Interface

The CoinCorner platform has been built in an easy-to-use way, making it appropriate for new and old traders.

Supported Cryptocurrencies

The platform allows users to trade Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Ripple (XRP).

Fiat-to-Crypto Payments

Users can buy cryptocurrencies with the help of GBP, EUR, and USD.

Recurring Buys

Purchase Bitcoin from recurring dates and increase your accumulation.

The Bolt Card

A payment debit card that is linked to your Bitcoin account allows you to make purchases without any hassle.

Security Measures

The firm places assets in cold storage and multi-signature wallets. It has partnered with Chainalysis to comply with AML and CFT regulations.

24/7 Support

A help center and a support team are available at all times.

Telegram Bot

An innovative assistant that makes using the exchange even easier can be found on telegram.

No Limits on Withdrawals

The users on the platform have no withdrawal limits on their funds available.

Low Fees

Exchange cryptocurrencies and pay only 0.1% in fees.

CoinCorner Trading Fees

This platform does not apply fees in the same manner as other platforms do. Most exchanges charge a trading fee, a fraction of the amount being traded.

All trades involve a fee; for instance, if one trades at 1,000 and the fee is at 0.1% for both makers and takers, then one pays a fee of 1 dollar.

However, for CoinCorner transactions, there is a fixed fee model which applies to transactions of less than Euros 300 more than 1 euro 300, the fee becomes 1.00%. For more details, please see the below picture.

CoinCorner Withdrawal Fees

Yet another fee that is worth being aware of before you decide which exchange to trade at is the withdrawal fee.

The withdrawal fee is most of the time a flat rate (no matter the number of cryptocurrency units that are being withdrawn) and differs from one cryptocurrency to another.

It is arguable that the average global industry withdrawal fee when a person withdraws BTC is about 0.0008 bitcoin, although we see more and more changes that have started charging 0.0005 BTC per withdrawal. Hence, we expect 0.0005 BTC to be the new average in the future.

According to what we understand, all that is applicable to the username when attempting to withdraw the bitcoins from CoinCorner is a single network fee. These are the fees that the miners charge for confirming transactions. It is fair/competitive to only charge network fees.

Restricted Countries and Regions

Here’s a table listing some of the countries and regions where CoinCorner Exchange services are available:

• United Kingdom
• Isle of Man
• Australia
• New Zealand
• United States
• Canada
• European Union
• Brazil
• South Africa
• India
• China
• Japan
• South Korea
• Singapore
• Hong Kong
• Russia
• Middle East

Security and Regulation

The first thing that should be remembered regarding CoinCorner’s security and regulation which this website provides services:

Regulatory Compliance

CoinCorner is established in the Isle of Man jurisdiction, which is regarded with a robust regulatory structure to operate financial businesses, for example | Pros & Cons – CoinJournal. They have an AML and CFT policy in place.

Security Measures

Multi-signature wallets, along with cold storage, are utilized by CoinCorner to secure the assets of the users. It also engages Chainalysis for compliance purposes and conducts audits by Hacken independently to maintain high information technology security standards.

Certifications

In terms of assets, CoinCorner has implemented ISO certifications, such as ISO 27001:2013, to prove that its information security management system is effective.

Virtual Asset Service Provider (VASP)

Another jurisdiction link of CoinCorner is that it is registered VASP in the Czech Republic jurisdiction.

Coincorner Mobile Application

The mobile app is delivered by CoinCorner as a handy tool that lets customers purchase, market, and administer their cryptocurrencies when traveling or on the go.

The app has useful functions, for example, making it possible to purchase currencies such as Bitcoin using a debit card or making a bank transfer, providing arrangements for routine purchases, monitoring one’s portfolio, and checking transaction history.

It also supports instant Bitcoin payments and receipts through Lightning Network.

The application is user-friendly; hence even a first time user can manage their way through the interface,. With the app at hand, buying or selling your bitcoin in a secured manner has never been that simple.

Customer Service

Any trading platform needs to have good customer support services, which are vital. To assist its users, CoinCorner has a help center with articles that address common concerns such as the verification process, account funding, and security.

Although much of the material is written, the customer service department has also added some videos on how to use the Bolt Card and other topics, such as purchasing Bitcoin.

For customers who require more help, CoinCorner provides assistance through a support ticket system, which is based on emails, and a support Twitter account.

Nonetheless, considering that the support team works from 9 am to 5.30 pm (GMT) and there are no call centers or live chat options, getting a response can take much longer than accounts on platforms like Bitfinex which has over 24\7 support.

CoinCorner Exchange Alternatives

Binance

Binance is often regarded as one of the largest and most frequented exchanges worldwide with a variety of cryptocurrencies, low trading fees and great features for traders.

Coinbase

Coinbase is well known for its simple and easy-to-use interface, hence making it an ideal trading platform for beginners who also want a safe means to buy, sell, and hold cryptocurrencies.

Kraken

Supports spot, futures, and staking all on its own and claims to have strong security and decent fee structures.

Gemini

A US-based licensed exchange that is well known for its security and ease of operation for both novices and professionals.

KuCoin

KuCoin is most famous among seasoned traders, providing various coins, low fees, and other ways of trading like margin trading and futures.

Conclusion

CoinCorner is an exchange that mostly targets UK and European users. This makes it a suitable platform for beginners as it is simple and easy to use.

The amount of digital currencies on this platform is sufficient enough to provide decent diversity for any beginner. I also found a mobile application for this platform which I guess would be handy for a number of users.

The interface is simple and intuitive; however, it lacks some advanced trading options that are common for larger exchanges, but the simplicity and the great customer support centers should be enough to attract many users.

But if you want to trade with lower costs and a greater variety of trading options, look for platforms like Binance or Kraken.