ABOUT: Coinfloor was launched early 2013, with its headquarter located in the United Kingdom. The platform markets itself as the “world’s safest exchange” with the “most liquid Pound Sterling to Bitcoin order book”. Starting with April 16, 2014, CoinFloor has been publishing a monthly Provable Solvency Report.
Coinfloor offers its users only one cryptocurrency to trade in. Besides Bitcoin, there are no altcoins that can be traded on the platform. There are, however, multiple fiat currencies against which Bitcoin can be traded. It is he UK’s biggest bitcoin exchange. Coinfloor is one of the safest exchanges around. They haven’t experienced a major hack yet. CoinFloor currently offers private and corporate accounts. Regardless of which account type one opts for, there’s no way around the two-factor authentication process required by the operator.
Private clients can buy and sell bitcoins through the CoinFloor OTC market. Retail clients can make large purchases and sales too, though they have to request a quote for such trades beforehand.
PLATFORM: After the logging screen users will encounter a simple platform that is both easy to navigate and use. Of course this is boosted by the fact has little functions that needed to be fitted in, which is therefore an advantage in this case. It has also been made responsive, so it will run optimally on mobile platforms.
This simplicity and the fact that the platform design is responsive, means that CoinFloor will indeed run optimally on mobile too.
Upon logging in for the first time it will be immediately become clear that there is no way around two factor authentication. There are not many exchanges that require this by default, but it certainly helps raising the security standard for user accounts.
FREE DEMO ACCOUNT: There is no free demo account.
WITHDRAWAL: Opening a CoinFloor account and using the storage service is free. Deposits-wise, bitcoin deposits carry no fees whatsoever, while withdrawals are charged a nominal amount, to cover mining fees. The minimum deposit in bitcoins is 0.0050. In every supported fiat currency, the minimum is 1,000 units. On GBP, the fee on a GBP 1,000 deposit is 5.00 GBPs. On a EUR deposit, there’s a EUR 1.5 fee, on 1,000 PLN there are no associated fees, while on 1,000 USDs, the fee is $10. Withdrawal fees apply to all these currencies too. A CoinFloor percentage fee is calculated as well, ranging from 0.34% to 0.38%.
CUSTOMER SUPPORT: CoinFloor customer support can only be reached through a ZenDesk “Submit a Request” form. Users can leave a ticket requesting support. These will be addresses during business hours on weekdays only, with an expected response time of 24 hours.
Coinfloor offers a relatively extensive FAQ despite the fact that the exchange only has a limited set of available features. It even includes some generic information on Bitcoin. The only drawback is that a disclaimer on the risks involved with trading cryptocurrencies could not be found. Especially live (chat or phone) support would be a welcome addition in this area.
They said about CoinFloor
* Coinfloor is a good exchange. They helped me to learn about the trading. it is a good platform to initiate the trading.
* I love the coinfloor exchange based on their quality support. They got enough liquidity and coins for a trader to profit from the trading. The customer support is average yet solve the issues as earliest as possible. They need to add more coins and introduce more tools for trading.