CoinCorner wallet review
Isle of Man
- Overview
- Security
- User Experience
CoinCorner is more than a Bitcoin wallet, it incorporates exchange functions, and it allows users to top-up their account via bank transfer or credit card. The app has a good design and improved functionalities. Unfortunately, Coincorner does not provide support for United States users, the only fiat currency for the exchange is Euro.
Coincorner is fine for buying Bitcoin with Euro but that is about it. They do not support any other Cryptocurrencies and do not support other traditional currencies. The service is blocked to US customers.
Company / organization behind the wallets
CoinCorner LTD is registered in the Isle of Man and it is able to manage transactions using Euro. GBP are expected to be added to the platform. They were featured in all major Crypto websites with an overall positive feedback. Looking at their background, the company looks solid.
The company has been victim to a number of hacking attempts and have made 'updates' to security to thwart these attacks. One of the reasons that platforms like this fall victim to hacking attempts is that they keep all user data and funds centrally on one server. It is best to use Coincorner to buy Bitcoin and then transfer your funds to a more secure wallet.
Since Coincorner works with traditional currencies and banks you can expect an extensive identification verification process. The website of CoinCorner.com is pretty neat and modern looking. The navigation is easy and smooth.
Summary:
CoinCorner is a great option for EU to buy and sell Bitcoin. More advanced users may find the platform limiting though since they only support Bitcoin. Their security is not optimal but that allows them flexibility. It's a great place to buy Bitcoin but not optimal for long term storage.