CoinCorner Experience 2021: The Crypto Exchange Test
10 Stars
Faster, nicer, better: CoinCorner, like many other crypto exchanges, is also making the case for convenience when it comes to buying and selling bitcoin and the like.
But is the platform really that convenient? How secure is the site? How does CoinCorner prevent fraud? And what offers does it entice users with?
For a good rating, CoinCorner has to convince us in many respects. We test customer service, offers, fee model and more, so you can decide whether CoinCorner is worth it for you.
Read all about our CoinCorner experience now.
Our recommendation: Buy cryptos with eToro
Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades
CoinCorner advantages and disadvantages
On the CoinCorner Exchange, you can buy cryptocurrencies such as bitcoin with euros, for example, using your credit card. You can transfer your cryptos to your own wallet or manage them conveniently on the platform. You can protect your account with a 2FA.
If you have any problems, CoinCorner Support offers you the option of contacting a member of staff directly via live chat. Unfortunately, the exchange is only available in English.
CoinCorner is not a broker and does not offer any financial instruments. Did you intend to trade CFDs with CoinCorner? Then you are in the wrong place. In this case, we refer you directly to the best Bitcoin exchanges and brokers.
What is CoinCorner?
Is CoinCorner a broker or exchange? CoinCorner is a crypto exchange where you can buy and sell currencies like Bitcoin. As a crypto exchange, CoinCorner does not offer CFDs, Forex and other financial instruments, but focuses exclusively on direct trading.
The Isle of Men-based company had 150,000 users at the end of 2018. Its offering is available in more than 45 countries.
In the near future, CoinCorner plans to come up with its own Visa debit card, which will enable customers to pay with bitcoin in online trading. For a long time, the CoinCorner Exchange exclusively listed Bitcoin in its offer, but only recently it was expanded by three Altcoins, so that one can now additionally trade with the following currencies: Bitcoin, Ethereum, Ripple and Litecoin.
It can be very convenient to simply manage the crypto coins you have just bought on CoinCorner. However, it is safer to store them in your own Bitcoin wallet. The inactivity fee, which CoinCorner charges under two conditions, also speaks in favour of your own wallet:
First, your account must not have been used for two full years.
Secondly, the fee is charged until there are no more funds on the account.
So if you transfer your cryptocurrencies to your own wallet, you are immune from the fee.
However, if you invest in one of the three altcoins offered (Ripple, Litecoin, Ethereum), you can only hold your currencies on the CoinCorner wallet - unfortunately, sending and receiving these currencies is not possible with CoinCorner. If you buy Bitcoin here instead, you can also transfer them freely.
CoinCorner Review - the offer
On CoinCorner you can buy, manage and sell cryptocurrencies. Four different coins are available for this purpose. Euro and GBP are accepted as means of payment, and there are many payment options on CoinCorner. Since CoinCorner is not a cryptocurrency broker, financial instruments such as CFDs, forex or stock options are not available here.
Bitcoin (BTC) | Ripple (XRP) |
|---|
Our recommendation: Buy cryptos with eToro
Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades
Buy cryptocurrencies at CoinCorner
At this point, we will guide you in simple steps from your first CoinCorner registration to your investment.
Step 1: CoinCorner registration
In order to use the exchange for buying and selling cryptocurrencies, you will of course need a CoinCorner login. To do this, you need to enter your first and last name, your place of residence and an email address. Also choose a secure password.
After a few clicks you are already registered on the site. Use the link in the confirmation e-mail to activate your account. After your first login, you can increase the security of your account under "Settings" by activating the two-factor authentication there.
Step 2: Verification
Before you can verify yourself, you must first transfer money to your profile. 100 pounds sterling (about 116 euros) are required at CoinCorner to start the verification process. How much you still have to transfer is shown in a bar in the sidebar at the top left (red marker in the screenshot).
Of course, the money is not gone, but is freely available for your investments after your verification. Depositing is done via the very present main menu, you can't possibly miss it.
In order to verify you, CoinCorner Exchange requires two official documents and a selfie of you with your ID clearly visible. Just follow the instructions to get your account activated for buying and selling Bitcoin & Co. from CoinCorner.
Step 3: Buy Bitcoin
Now you can buy Bitcoin or any other cryptocurrency with CoinCorner. To do so, click on Buy/Sell in the main menu (marked red for you in our screenshot) behind Bitcoin and follow the instructions that CoinCorner will then give you.
You are already in possession of your first digital coins. That was really fast!
Our recommendation: Buy cryptos with eToro
Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades
CoinCorner Fees & Charges
The CoinCorner fee list can be summarised quickly. CoinCorner charges fees for selling and buying, as well as an inactivity fee if applicable. Transactions may also be subject to fees for the selected payment method.
The minimum amount for transactions at CoinCorner is only 5 euros. Customers can invest a maximum of 50,000 euros per day. When buying bitcoin, there is a fee of 1 per cent of the purchased coins. The same fee applies to sales. There are also limits for sales: the minimum amount for sales is 5 euros, the maximum amount is 50,000 (per day).
The exchange does not charge a fee for sending and receiving bitcoin via your CoinCorner account.
Fee type | costs |
|---|---|
Purchase fees | 1 percent |
Sales charges | 1 percent |
Transaction fees | For credit card payments: 2.5 percent. |
Inactivity fee | after 24 months of inactivity: around 10 euros / month |
A fee of 2.5 per cent is charged for credit card payments of up to 2,000 euros. In contrast, SEPA bank transfers are completely free of charge. Transfers are also possible with Neteller - but these are more expensive than the other payment methods available to you for CoinCorner, with a fee of 3.2 percent.
CoinCorner does not charge any other fees, such as account or custody fees. When paying, you may incur further costs at your bank. If in doubt, ask your bank about this.
While transfers within the eurozone are usually free of charge, additional fees may apply for transfers made from outside Europe.
CoinCorner payment methods
CoinCorner offers a small selection of different payment methods from which you can choose the one that suits you best: These include classic SEPA transfers via your bank account, credit card payments with Visa and Mastercard, as well as the online payment service provider Neteller.
Unfortunately, PayPal is not one of the payment options offered.
If you are looking for a broker that accepts PayPal, you should take a closer look at our Exchanges Comparison test winner eToro. eToro offers an excellent CoinCorner alternative for buying and trading Bitcoin and many other cryptocurrencies.
Payment method | yes/no |
|---|---|
Credit cards | yes |
Paypal | no |
Instant bank transfer | no |
Skrill | no |
Neteller | yes |
Paysafecard | no |
Bank Transfer | yes |
Other | no |
Our recommendation: Buy cryptos with eToro
Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades
CoinCorner licence and security
Security naturally plays a special role in the selection of the best exchanges and brokers. However, buyers of cryptocurrencies are particularly challenged in this regard. The fact that you manage your currencies yourself is one of the basic principles in the world of the new, digital money.
In return, no financial service provider earns money from managing them, even if you transfer your Bitcoin from Europe to Asia, South America or Africa.
Preventing CoinCorner fraud: take precautions yourself
The new freedom comes at a clearly stated price in precisely this respect. You have to choose a wallet on your own and take precautions to guarantee the security of your coins. Depending on the type of investor, different wallets may be right for you.
If you want to interact with your currencies regularly, a digital wallet is the right choice.
Then you should also consider buying a hardware wallet.
If you want to hold them for a long time, a paper wallet might be right for you.
When choosing a wallet, you should definitely not go for providers that are not yet firmly established in the scene. The same applies to the selection of the exchange through which you want to buy or sell your cryptocurrencies. Because cases of fraud are not uncommon in the crypto world.
If you are lured to unpopular sites with outstanding promises of bonuses, you should become suspicious.
CoinCorner Login: Use two-factor authentication
But even if you choose an established exchange, you should remain cautious. Because if your account is ever compromised, your funds will probably be irrevocably lost. That's why you should choose a secure password and make use of the two-factor authentication (2Fa) that CoinCorner offers you.
With 2Fa, the security of your account is significantly increased, because attackers no longer need only your email address and password to break into your account, but also access to your mobile phone.
CoinCorner also recommends using the CoinCorner app and activating the notifications. This way you will be notified when there is a login attempt for which you are not responsible. In addition, you should make sure that you are on the right page before each CoinCorner login.
Phishing sites often look exactly like the real thing and are used to get your login details. We have summarised the scams in the crypto world and how you can effectively protect yourself from scammers in an article for you.
Our recommendation: Buy cryptos with eToro
Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades
The CoinCorner App
Good apps that allow you to trade on the go round off the offer of every crypto exchange. Apps have the advantage, for example, that you can keep yourself up to date on the status of things by means of notifications you set up - no matter where you are.
And with just one touch of your smartphone, you can react to the current price rise or fall in good time.
With the CoinCorner app, you can access your account conveniently and from anywhere at any time, for example to manage your CoinCorner Bitcoin wallet, transfer coins or buy and sell. The little helper for mobile devices is available for both iOS and Android and supports smartphones, tablets and other handheld devices.
You can find the app in the Google App Store as well as in the Apple Store.
CoinCorner Customer Service, Contact & Support
A very important criterion when choosing the right exchange for you should be the customer service. In case of problems, it is good to know where you can turn to get fast and effective support.
CoinCorner's support therefore also plays a major role in our evaluation.
Right from the first glance at the site, it is noticeable that the service is also aimed at customers, but is only available in English. The FAQ ("Help Centre") is also not available. So if you don't speak English, you might be a bit lost here.
Contact way | yes/no |
|---|---|
phone | no |
no | |
Live chat | yes |
contact form | yes |
FAQs | yes |
We are also surprised that although CoinCorner Support advertises that it can also be reached via live chat, we cannot find the live chat anywhere, even after a long search.
Only after registering and looking three times do we discover the small pop-up in our account at the bottom right. It may be due to the author's poor eyesight or the somehow too bright and indifferent layout of the page that we only came across this after a good two hours.
In any case, when we finally discover the live chat, CoinCorner Support answers our questions immediately in a friendly and competent manner.
The FAQ also answers many of the questions that customers ask, and it's quick and uncomplicated. Here we find numerous instructions that make it easier for us to get started with the exchange, and we are informed transparently about the fee model via clear tables.
Alternatively, we can contact CoinCorner support via a form. There are no other ways to contact the support.
Conclusion - the CoinCorner review
Our CoinCorner review was a bit slow because we couldn't find some information right away. The good news: the information is there, the site communicates transparently, the customer service is available and answers reliably and quickly. That's how it should be.
Of course, our impression is somewhat clouded by the fact that CoinCorner is only available in English. This excludes many potential customers who do not speak English.
What we like very much is the possibility to not only buy bitcoin with CoinCorner, but also to receive as well as send it. This way, the CoinCorner app quickly becomes a good substitute for a Bitcoin wallet.
However, we strongly advise against keeping larger sums on the site for longer - it can be useful to pay for your drink at the next CCC with some bitcoin change, but should not replace the much more secure wallet. After all, if the exchange were to file for bankruptcy one day, you could lose your funds.
One clear shortcoming is that this functionality is limited to bitcoin. Not only is the range of coins that can be purchased here very limited, but the sending and receiving of coins only works for bitcoin. There must be good reasons for this, but we are still a little disappointed.
We are basically convinced of the support. A detailed FAQ gives us answers to many of our questions. In the live chat, we can talk directly with the customer support. A service that could be reached by phone would have been a nice extra, but because it is usually much easier via live chat, we are happy to settle for that.
If you mainly want to acquire Bitcoin and manage it practically, CoinCorner is a good service for this. If you want to invest in another cryptocurrency instead, such as IOTA, you'll have to look for CoinCorner alternatives.
Our CoinCorner rating: good platform, practical app.
Our recommendation: Buy cryptos with eToro
Incl. wallet
Buy and sell cryptocurrencies directly in the wallet
Paypal, credit card and instant bank transfer
Regulated provider
Real cryptos or CFD trades
FAQ
The provider is a crypto exchange where cryptocurrencies can be bought and sold.
In our test, CoinCorner was convincing. The diverse trading options and the excellent customer support attract many customers, most of whom are very satisfied with the provider.
The amount of your own investment should depend on your own liquidity, the chosen cryptocurrency and your own risk tolerance. In general, you should never invest money that you actually need elsewhere, as profits can never be guaranteed.
Here, too, the platform is convincing. Payouts are processed very quickly and are in your account within a few minutes to 2 working days, depending on the selected payout method.
You should always know what you are investing in. Cryptocurrencies are highly volatile, so you should first familiarise yourself with the selected coin in detail. If you have the necessary know-how, as well as the occasional bit of luck, then nothing stands in the way of early profits.
