Coinfloor immediately halves cost of both one-off transactions and Autobuy, while Autobuy falls to 0% for customers after 12 months
LONDON – 11/08/2021: Coinfloor, the UK’s longest-running Bitcoin exchange, is slashing fees for its Bitcoin-buying services, and will reduce the cost of automated buying to 0% after 12 months of autobuying.
Coinfloor is immediately halving fees for both lump sum Singlebuy Bitcoin purchases and its Autobuy service, which enables users to set up regular, automated purchases via their bank account through Coinfloor App. From today, fees will fall to 0.99% per transaction for all customers. For Autobuy, this will reduce by 0.25% every three months until they hit zero where it will remain, as long as a user continues regularly stacking sats via the Autobuy service.
Here’s a quick look at the journey:
As well as benefiting customers directly through lower costs, the new fee structure is designed to encourage good investment behaviours in both new and existing Bitcoiners. By buying regularly-scheduled amounts, people can grow their investment in line with Bitcoin’s long-term value rather than worrying about the daily rise and fall in price.
Everyone is eligible for Coinfloor’s new low fees. From today, Autobuy customers will begin by paying the new low transaction rate of 0.99% for the first three months, with their fees also falling by a quarter every three months if they consistently use Autobuy.
The launch of this innovative, industry-low pricing structure follows the success of Coinfloor App, which removes the stress and complexity that has long been a hallmark of the Bitcoin signup process. Coinfloor App saw sign-ups surge in July as interest in Bitcoin continued to grow and customers looked for easy and intuitive ways to start investing.
“Removing fees for Autobuy is not just about making Bitcoin more affordable, it’s part of our ongoing responsibility to both new and experienced users,” said Coinfloor CEO Obi Nwosu. “We want to instill the right investment behaviours in every customer by making it easy for them to stack sats and iron out the daily fluctuations in Bitcoin’s price through dollar-cost averaging. Autobuy enables anyone to build their investment easily by scheduling regular purchases via standing order through Coinfloor App.”
“We hope the rest of the industry will take note of Coinfloor’s new fees, bringing the same low costs to customers and encouraging more people to adopt the smartest way to buy Bitcoin.”
Coinfloor is the UK’s longest established Bitcoin and cryptocurrency exchange. Founded with a focus on trust, security and reliability, our goal has always been to create a safe and accessible place to trade and invest in cryptocurrency such as Bitcoin. Coinfloor’s history goes back to 2013 when we experienced first hand the challenges of buying, selling and trading bitcoins in the UK, and wanted to build a business that solved this problem.