Coinfloor is one of the major players in the UK cryptocurrency space. The company allows relatively easy access to Bitcoin, with trading directly against GBP. This makes them a rival to CryptoMate, although a few specifics of their trading conditions make them not that beginner friendly.
Covered by The Financial Times, The Independent and CNBC, the London-based CoinFloor is apparently the first publicly auditable bitcoin exchange. It has teamed up with a FCA-regulated trading firm to be able to handle bulk bitcoin orders and it has thus become the biggest bitcoin-to-GBP exchange. Safety is apparently the top priority at CoinFloor: two-factor authentication is a default requirement for all those who decide to register with the exchange.
Trading instruments (cryptocurrencies)
Coinfloor offers trading (fiat) currencies against a few coins. The main volume and liquidity is concentrated in Bitcoin trading against the British pound. The full list of trading instruments includes XBT/GBP, XBT/EUR, XBT/USD, BCH/GBP, ETH/GBP, ETC/GBP, XRP/GBP, LTC/GBP.
Minimum initial deposit
Coinfloor has set a minimum fiat currency deposit of GBP/EUR/USD 1000. This is very unusual for a crypto-exchange, as a lot of people prefer to try things out with a smaller investment. Additionally a 0.0050 XBT minimum level is applied for blockchain transfers
As you may know we mostly cover forex brokers (some of which do offer cryptocurrency CFDs). That being said the entry-bar for most of them is $100, as demanded by HYCM.
Trading on leverage is not supported by Coinfloor. While this may feel like a hindrance to some, keep in mind cryptocurrencies are pretty volatile as is. If you really want to gear-up you can try trading at another exchange, like Kraken.
Alternatively the forex brokers who support Bitcoin CFDs, like easyMarkets can be an option, if you are only looking to speculate. That being said, you will only be trading a financial derivative and not own the actual coins. This is the key specific, but there are a few others which we have described here.
While CoinFloor claims to be offering 0% fees for trading, there are fees when making a deposit and withdrawal. The charges, measured in different currencies are very unusual. The starting level in Euros is €1.5, while in dollar terms the minimum is $10. Above anything else, this is strange.
Coinfloor is a UK-based cryptocurrency exchange. While the company is one of the longest-running London-based players in the market there are a lot of user complaints surrounding it. They cover all the areas you can imagine. Additionally volume and liquidity in the non-GBP pairs is allegedly low. That being said, security at this company is top-tier.
|Rank||Site||Margin trading||Fiat||Safety||API||Referral||Location||Languages||Buy with||User Vote||Score|
|1||A||San Francisco, USA||EN||bank transfer, card|
|3||A||No||Hong Kong||EN||EUR, USD|
|4||No||A||Europe||EN, CZ, SK||USD, EUR|
|5||A||No||San Francisco, California, United States||EN||USD, EUR, JPY, CAD|