CoinCorner: Bitcoin-Only Exchange

Description

CoinCorner is one of the UK’s leading bitcoin-only exchanges that enables you to sell and buy bitcoin with credit/debit card, bank transfer and SEPA. When you shop online, the CoinCorner browser extension notifies you if you can earn Bitcoin cashback on your purchases. Launched in 2014, it also supports dollar-cost averaging (DCA) to allow you to auto buy bitcoin regularly. CoinCorner is one of the few exchanges that have integrated the Lightning Network.

How to Register on CoinCorner

Before you can do anything on the exchange, you must first register and verify your account. You can register on CoinCorner website or CoinCorner app for Android or iOS devices. Your current residential address, mobile number, ID, and source of funds are all required for KYC. To complete your CoinCorner verification, you may also be required to upload a selfie. If your identity document and address information passes automatic checks, you will be able to access your account immediately.

CoinCorner Features and Benefits

• Buying and selling bitcoin instantly via the Lightning Network
• CoinCorner’s stacking accounts allow you to create sub-accounts within your own CoinCorner account to save in bitcoin for any purpose
• Variety of payment methods: debit card and credit card for transfers in EUR and GBP, SEPA, or bank transfer
• CoinCorner Bolt Card, a contactless Lightning payment card
• Option to auto-buy Bitcoin (dollar-cost averaging)
• CoinCorner Checkout for businesses to accept bitcoin payments
• You can buy gift cards with bitcoin from Bitrefill, directly from your CoinCorner account
• Recurring Lightning payments allows you to pay for bills, subscription services, or send regular payments to family and friends
• CoinCorner Cashback is a program that gives you bitcoin rewards for shopping with partner merchants

Buy Bitcoin Automatically

Setting up a DCA investment strategy is possible using the Bitcoin Auto Buy service from the CoinCorner platform. Just sign up for a free account, set your order amount to as little as 10 GBP, and choose how often you want to buy bitcoin. Auto buying bitcoin in little amounts regularly will help you save money in the long run and lessen the impact of short-term price changes.

CoinCorner’s automatic purchase service allows you to fund the account with a GBP bank transfer, which will be used to automatically purchase bitcoin once received in your account. A standing order in a bank account can also help eliminate all the processes of buying bitcoin that require personal manual intervention. It is enough to create a standing order using the bank details of the exchange and add a certificate of automatic purchase.

CoinCorner Stacking Accounts

This bitcoin stacking feature allow you to create subaccounts within your own CoinCorner account to save in bitcoin for a house, a holiday, a new car, etc. You can create as many Stacking Accounts as you like, and for each one, you can set a personalised stacking target. Furthermore, you can make a one-time deposit, or set up a recurring deposit.

CoinCorner Cashback

CoinCorner Cashback is a program offered by CoinCorner where you can earn cashback in bitcoin on your eligible purchases. When you make qualifying purchases with CoinCorner’s partner merchants, a percentage of the purchase amount is credited back to your CoinCorner account in the form of bitcoin. This allows you to accumulate bitcoin rewards as you shop.

CoinCorner Bolt Card

The Bolt card from CoinCorner is a physical NFC card that can be used to pay via bitcoin’s Lightning Network at any physical merchant or any online merchant accepting bitcoin lightning payments via a tap on your phone. You can also use the CoinCorner card to create tappable NFC-enabled bitcoin vouchers or gift cards that anybody can redeem with a lightning wallet on the phone.

How to Withdraw Funds from CoinCorner

You can withdraw funds from your accounts using bank withdrawal in GBP, bank withdrawal in EUR and bitcoin withdrawal to your own bitcoin wallet.

CoinCorner Fees and Deposits

The minimum deposit on CoinCorner exchange depends on the method of depositing your account:

Minimum deposits in bitcoin have no restrictions. There are also no restrictions on the maximum deposit amount for all currencies and deposit methods.

Find the full list of CoinCorner fees and limits here.

Is CoinCorner Legit?

CoinCorner is a legitimate bitcoin exchange and wallet provider that has been operating since 2014. It is a registered company in the Isle of Man and complies with the necessary regulations in its jurisdiction. CoinCorner has established a reputation as a trusted platform for buying, selling, investing, and saving bitcoin.

CoinCorner Supported Countries

CoinCorner, while popular in the UK for buying and selling Bitcoin, support other countries including Alderney, Australia, Brazil, Bulgaria, Cayman Islands, Curacao, Cyprus, Czech Republic, Denmark, El Salvador, Estonia, France, Germany, Greece, Guernsey, Hungary, Iceland, Ireland, Isle of Man, Italy, Jersey, Luxembourg, Malta, Mauritius, Monaco, New Zealand, Norway, Poland, Portugal, Romania, Singapore, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom, and Virgin Islands, British.

Is CoinCorner Any Good?

Based on our experience, CoinCorner proves to be a solid choice for Bitcoin purists looking for a Bitcoin only exchange. In addition, its singular focus on Bitcoin avoids overwhelming newcomers with a large selection of cryptocurrencies. The inclusion of features such as support for the Lightning Network and dollar-cost averaging allows you to make faster and cheaper transactions as well as accumulate Bitcoin on a regular basis.

CoinCorner offes convenient payment methods for users worldwide. While individuals in Europe can purchase Bitcoin via SEPA transfers, those in other countries have the option of using debit/credit cards and bank transfers.

However, it’s essential to acknowledge the drawbacks. The mandatory KYC verification and the custodial nature of CoinCorner’s wallet may not sit well with those who prioritize anonymity and complete control over their funds. If you are seeking privacy in your Bitcoin transactions or hesitant to relinquish control to a third-party custodian, these aspects could be significant deterrents.

When considering fees, my experience with CoinCorner suggests that while its trading fees are competitive, you need to be mindful of potential additional costs, such as deposit and withdrawal fees, especially for smaller transactions. These fees can add up and impact the overall profitability of trading or investing on the platform.

Despite these considerations, my experience with CoinCorner has been largely positive. We are also impressed with their unique features like a contactless Lightning payment card (Bolt Card), subaccounts for saving goals (stacking), and a cashback rewards program.

More Information

• CoinCorner supported countries