Coinfloor Review 2024

Our veredict

Coinfloor, a UK-based cryptocurrency exchange founded in 2013, has long been a prominent platform for trading Bitcoin and other cryptocurrencies. Known for its simplicity and robust security measures, Coinfloor offers features such as 100% cold storage, two-factor authentication, and a user-friendly interface, making it an attractive option for both beginners and experienced traders. The exchange supports several fiat currencies, including GBP, EUR, and USD, and offers various services tailored to corporate clients, including fiat accounts and OTC trading. However, it has a limited selection of cryptocurrencies and lacks a mobile app, which might be a downside for users seeking more versatility and on-the-go trading options​.
Despite its strengths, Coinfloor is not without its drawbacks. The platform’s trading fees are slightly above industry average at 0.30% per trade, and it imposes significant deposit and withdrawal fees, especially for international transfers. Additionally, the customer support has been criticized for being inadequate, with no live chat support available. Overall, Coinfloor is best suited for UK-based users who prioritize security and simplicity in their cryptocurrency trading experience but may not be ideal for those looking for a wide range of cryptocurrencies or lower fees​​.

Pros

Cons

3

Threenvest Score

Fees

0.30% per transaction

U.S Legal

No

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To better understand our editorial guidelines and the investment methodology that supports our ratings, you can explore the information in our editorial policy.

Why choose Coinfloor?

Choosing Coinfloor as your cryptocurrency exchange comes with several compelling advantages. First and foremost, its strong security infrastructure, including 100% cold storage and two-factor authentication, ensures that your assets are well-protected from potential threats. This makes Coinfloor one of the safest exchanges for both new and seasoned traders​.
Another significant benefit is its user-friendly interface, which simplifies the trading process for beginners. The platform is designed to be intuitive, allowing users to navigate through trading, depositing, and withdrawing with ease. Additionally, Coinfloor supports multiple fiat currencies, including GBP, EUR, and USD, facilitating smooth and straightforward transactions for users based in the UK and Europe​.
Moreover, Coinfloor offers a unique Autobuy service that enables users to automate their Bitcoin purchases. This feature is particularly advantageous for those looking to build their Bitcoin holdings steadily over time without the hassle of manually making transactions. By setting up regular purchases, users can take advantage of market fluctuations and potentially average out the cost of their investments​​.
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EIP and Cryptocurrency Investor

As a cryptocurrency expert, I highly recommend Coinfloor for its exceptional security and user-friendly interface. The platform’s strong security measures, including 100% cold storage and two-factor authentication, ensure that your assets are protected at all times. Moreover, its intuitive design makes it easy for beginners to navigate and trade confidently. The Autobuy feature is also a standout, allowing for automated Bitcoin purchases, which is perfect for building your portfolio over time. Overall, Coinfloor’s blend of security, simplicity, and innovative features makes it a great choice for both new and experienced traders.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

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Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.