Review on CoinCorner by Olugbenga Ajayi
The exchange is transparent and secure
The exchange was established in 2014 by Daniel Scott, Phil Collins, Charlie Woolnough and David Brown with the aim of providing a platform that can facilitate easy and speedy buying and selling of Bitcoin.
Since inception, Bitcoin has been the major asset on the platform although some altcoins were featured but the low demand for them likely made the to fade away. The exchange also support EUR and GBP but some investors complained of not finding it easy to withdraw the flat currencies.
The exchange does not have a fixed transaction fee except that all buying and selling of Bitcoin attract 1% of the traded amount. I think that can be too much in a situation where the traded amount is huge.
The exchange is very safe. It was able to avert several attempt to hack it. This could likely be because it uses cold storage to protect more than 90% of asset.
Pros
- The platform is attractive, easy to use and navigate
- It provides an easy way to buy, sell and store Bitcoin
- Transaction fee is fair
- Customer support is very good
- The platform is registered with the regulatory body in isle of man
- No KYC is required
- The website provide regular updates and necessary information
- The exchange is transparent as it provides necessary information about the team behind it
- It uses cold storage
Cons
- It is a single crypto exchange since it only support Bitcoin
- Although it supports flat currencies, it is complicated to withdraw these flat currencies
- Charges of 1% transaction fee can be too much if one is trading large sum
