The Origins of Coinfloor
Coinfloor claim to be the UK’s number 1 and longest standing bitcoin exchange. Founded in 2012, they focus on trust, reliability, and security. In essence, they want to provide a safe and accessible place for bitcoin exchange. Their commercial director (Mark Lamb) was one of the UK’s first Bitcoin brokers, and at one stage he personally handled over 10% of the UK bitcoin volume. Coinfloor has attracted funding from various venture capitalists and a number of private investors.
Buying Bitcoin through Coinfloor
All users need to register for an account by providing personal details and registering their mobile phone number with an authy app or registering with yubikey. This is done to ensure two-factor authentication can be implemented. Identification documents must also be provided. UK residents typically have their accounts verified within 24 hours, whilst for those outside of the UK, it can take between 1-10 days. Once the verification process is complete, trading can begin. There are different options to purchase bitcoins; Express Buy and Coinfloor market. Both types of purchase require a bank transfer to the seller which can be done with funds already deposited to the user’s Coinfloor account.
Features and Benefits
- Coinfloor operates a 100% cold storage policy.
- They provide two-factor authentication at all times.
- Coinfloor Exchange Ticker, Order Book and a list of transactions are available via API with no authentication required. HTTP and WebSockets APIs are available and optimized for low latency connections.