Coinfloor to migrate customers to CoinCorner to further British Bitcoin adoption

Today we are excited to announce that CoinCorner and Coinfloor have agreed to have Coinfloor’s customers migrate to the CoinCorner platform to help further British Bitcoin adoption.

In this move, Coinfloor customers will migrate seamlessly over to CoinCorner, one of the longest-running British Bitcoin exchanges with a pedigree as long as ours. This means that all our customers can continue on their Bitcoin journey with the same low fees, while also having access to a broad range of new features, with many more on the way. The Coinfloor and CoinCorner teams will be working together to ensure a smooth transition for customers.

Why did we choose to migrate our customer to CoinCorner? That’s easy. They share our values in relation to Bitcoin, consistent customer education, and safe Bitcoin custody (for an example, see their recent and innovative “Hoffline” Bitcoin custody announcement). But furthermore, they not only have features that match our own such as their Auto Buy and Bitcoin buying services, they also have a number of additional features our customers will benefit from such as, free and fast Bitcoin Lightning payments, and Bitcoin Cashback via their online shopping cashback partners, with more exciting features launching in the coming months.

If you want to learn more about CoinCorner, click here.

CoinCorner is based in the Isle of Man (not the UK mainland) and is registered with the Isle of Man Financial Services Authority under the Designated Business Act 2015 (not the Financial Conduct Authority). As is the case with Coinfloor and other cryptoasset service providers, CoinCorner is not covered by the Financial Ombudsman Service nor subject to protection under the Financial Services Compensation Scheme.

Coinfloor CEO, Obi Nwosu, said, “CoinCorner and Coinfloor have always stood for the same principles: the growth and support of the Bitcoin technology, philosophy and community; focus on helping customers as our highest priority; and providing safe and simple ways to buy Bitcoin. Above all, we are both focused on making Bitcoin simple, secure and reliable for our users.

“Coinfloor is proud of setting new standards in the industry, including our commitment to education for our customers and making the entire process safe yet intuitive. Now it’s time to take these principles further with CoinCorner.”

CoinCorner CEO, Danny Scott, said, “We’re very excited to welcome Coinfloor customers to CoinCorner – our visions for Bitcoin have always been strongly aligned, so it makes sense we continue supporting Coinfloor customers on their Bitcoin journey.

Customers will now have access to our wide range of offerings, including Lightning payments, Bitcoin cashback, and many more features coming soon, such as debit cards and payments accounts.”

As a Coinfloor customer what does this mean for you?

As of 4th October 2021, the date of this announcement, you will have a month to either smoothly migrate your account, contract, and balances to CoinCorner (also known as “novation”) or close your Coinfloor account and withdraw all available balances after fees:

  1. Migrate (novate) your account over to CoinCorner, so you can immediately start using their services and continue on your Bitcoin journey. Your balances and account details held on Coinfloor will be automatically transferred to CoinCorner. Importantly, Coinfloor customers who migrate to CoinCorner will have their current trading fees honored or have similar fees to their current ones. (There are no fees associated with this option).
  2. Withdraw your balances and close your account. (Coinfloor withdrawal fees will apply).

Please note, if an option is not selected before 4th November 2021, your account and balances will be automatically migrated (novated) to CoinCorner where you can continue to buy bitcoin, withdraw, and manage your funds.

To migrate to CoinCorner or close your account, please log into your Coinfloor account.