Topic: Coinfloor UK (Read 16770 times)
why deposits under 500 pounds go through poland?
Coinfloor opened new trading markets in EUR, USD and PLN.
http://blog.coinfloor.co.uk/post/101258757411/coinfloors-high-liquidity-markets-are-officially-open
The liquidity does look good during daytime and it seems the fees and have gone down significantly: https://www.coinfloor.co.uk/fees
Quote from: Coinfloor Blog
- The order books for GBP, EUR, PLN and USD are live and available for trading.
- You can make deposits to our dedicated GBP, EUR, PLN and USD denominated accounts.
- You can register 3 more sets of fiat withdrawal details, one per currency, to avoid FX charge or take advantage of SEPA payments in EUR or local transfers in PLN.
- You can take advantage of our markets increased liquidity!
http://blog.coinfloor.co.uk/post/101258757411/coinfloors-high-liquidity-markets-are-officially-open
The liquidity does look good during daytime and it seems the fees and have gone down significantly: https://www.coinfloor.co.uk/fees
I visited the Coinfloor office yesterday. Coinfloor is quite an open business, and anyone can make an appointment to be shown around.
Their premises are in a courtyard building just off Chancery Lane in London. It's a respectable part of town for this type of business, and is less than 100 meters from the London Silver Vaults. As a small business, they only have part of the building, and they share a common entrance with other small businesses.
Most of their development and administration is done from a workspace upstairs. It's an open area, full of chairs, tables and computers. The computers are all laptops (MacBooks, I think), and I was surprised that not even the main developer had a big monitor attached.
I met the founder and CEO Mark Lamb, co-founder Amadeo Pellicce, technical lead and chief developer Obi Nwosu, and three other staff including their support person. Coinfloor's accountant was also there, tapping away at a computer. It seemed like a comfortably busy but non-chaotic workplace. It was fairly austere too - there was no extravagant furniture and no executive "goofing-off" toys. Just places to work.
I spent some time talking to Mark Lamb, and he clarified some points which have been raised from time to time in this forum. James McCarthy (nefario) was involved with the company in the early days, but is no longer working for them, having parted on amicable terms. The UK "Faster Payments" service is no longer operating, having been forced to close by the policies of the UK clearing banks. For now, payments in and out take place through a GBP-denominated account at a Polish trading bank.
Obviously it wasn't possible for me as a visitor to "look through the books" or look over their shoulders as they worked, but I came away with a positive impression and confident that I was seeing a professional operation.
I hope this account of my visit is interesting or useful to people. If anyone wants to arrange a visit to Coinfloor, you can do it through a link on the following page:
http://support.coinfloor.co.uk/hc/en-us/articles/202484946-Where-is-Coinfloor-located-
Their premises are in a courtyard building just off Chancery Lane in London. It's a respectable part of town for this type of business, and is less than 100 meters from the London Silver Vaults. As a small business, they only have part of the building, and they share a common entrance with other small businesses.
Most of their development and administration is done from a workspace upstairs. It's an open area, full of chairs, tables and computers. The computers are all laptops (MacBooks, I think), and I was surprised that not even the main developer had a big monitor attached.
I met the founder and CEO Mark Lamb, co-founder Amadeo Pellicce, technical lead and chief developer Obi Nwosu, and three other staff including their support person. Coinfloor's accountant was also there, tapping away at a computer. It seemed like a comfortably busy but non-chaotic workplace. It was fairly austere too - there was no extravagant furniture and no executive "goofing-off" toys. Just places to work.
I spent some time talking to Mark Lamb, and he clarified some points which have been raised from time to time in this forum. James McCarthy (nefario) was involved with the company in the early days, but is no longer working for them, having parted on amicable terms. The UK "Faster Payments" service is no longer operating, having been forced to close by the policies of the UK clearing banks. For now, payments in and out take place through a GBP-denominated account at a Polish trading bank.
Obviously it wasn't possible for me as a visitor to "look through the books" or look over their shoulders as they worked, but I came away with a positive impression and confident that I was seeing a professional operation.
I hope this account of my visit is interesting or useful to people. If anyone wants to arrange a visit to Coinfloor, you can do it through a link on the following page:
http://support.coinfloor.co.uk/hc/en-us/articles/202484946-Where-is-Coinfloor-located-
Very good of you - thanks for sharing brother. I always need a bit of assurance too before doing business - Good idea to go visit their offices
I might also arrange when next in London - would be interesting to see how a BTC exchange business is ran.
Credit where credit is due! I know Mark, Amadeo and Obi have done have worked tirelessly on behalf of the UK Bitcoin community, doing a lot of legislative, compliance, regulatory, security etc behind the scenes.
In fact the Coinfloor team would be excellent people to approach for any UK enterprise (existing or start-up) for advise/chat.
I will continue using them as my default exchange in support - and hope more UK Bitcoiners give them a try
Their UK bank 'Capital Account' have stopped all Bitcoin business, so no more UK Faster Payments 
Customers are still able to deposit via Faster Payments until next Wednesday the 24th of September,
Faster Payments withdrawals will be processed until Friday the 10th of October.
Capital Treasury Services, the Isle of Man based regulated financial institution offering clearing services to Coinfloor and other Bitcoin companies, has been compelled to withdraw support for cryptocurrency businesses.
They emailed customers and I expect that they'll put it up on their blog soon as well: http://blog.coinfloor.co.uk
Customers are still able to deposit via Faster Payments until next Wednesday the 24th of September,
Faster Payments withdrawals will be processed until Friday the 10th of October.
Capital Treasury Services, the Isle of Man based regulated financial institution offering clearing services to Coinfloor and other Bitcoin companies, has been compelled to withdraw support for cryptocurrency businesses.
They emailed customers and I expect that they'll put it up on their blog soon as well: http://blog.coinfloor.co.uk
Thanks for your inputs - I too have been trading and continue trading with them - it's a shame about their Faster Payments no longer being allowed (I found that it never got credited same day for me, but the following morning in most instances)
I now send via a standard bank wire over to their Polish affiliate banking partner (PKO) the process so far takes 4 days on average.
Most trades I've completed on their site are within 1% of Bitstamp - so are very competitive. BTC withdrawals are generally slower than Bitstamp, for me it normally takes around 6Hrs from request and if requested after 6PM are completed the following morning.
Their UK bank 'Capital Account' have stopped all Bitcoin business, so no more UK Faster Payments
Customers are still able to deposit via Faster Payments until next Wednesday the 24th of September,
Faster Payments withdrawals will be processed until Friday the 10th of October.
Capital Treasury Services, the Isle of Man based regulated financial institution offering clearing services to Coinfloor and other Bitcoin companies, has been compelled to withdraw support for cryptocurrency businesses.
They emailed customers and I expect that they'll put it up on their blog soon as well: http://blog.coinfloor.co.uk
Customers are still able to deposit via Faster Payments until next Wednesday the 24th of September,
Faster Payments withdrawals will be processed until Friday the 10th of October.
Capital Treasury Services, the Isle of Man based regulated financial institution offering clearing services to Coinfloor and other Bitcoin companies, has been compelled to withdraw support for cryptocurrency businesses.
They emailed customers and I expect that they'll put it up on their blog soon as well: http://blog.coinfloor.co.uk
My second CoinFloor GBP deposit, BTC purchase & withdrawal yesterday, again all went very smoothly.
Also today they announced:
New Deposit Options
We have received strong feedback regarding our minimum Sterling deposit amount of £500 for Faster Payments, which prevented new users from making small "test deposits" to Capital Account. We are glad that our customers are cautious with their money and want their exchanges to prove trustworthiness before engaging with them on a more day-to-day basis. Today we are removing the £500 minimum amount, to accept "test deposits" and support this approach.
All deposits of £500 and above remain free from charge. For deposits below £500 we are instituting a £10 processing fee which is incurred by us and our treasury services provider for processing smaller payments. For deposits of £500 and above we will continue to cover the processing costs for our customers.
Also today they announced:
New Deposit Options
We have received strong feedback regarding our minimum Sterling deposit amount of £500 for Faster Payments, which prevented new users from making small "test deposits" to Capital Account. We are glad that our customers are cautious with their money and want their exchanges to prove trustworthiness before engaging with them on a more day-to-day basis. Today we are removing the £500 minimum amount, to accept "test deposits" and support this approach.
All deposits of £500 and above remain free from charge. For deposits below £500 we are instituting a £10 processing fee which is incurred by us and our treasury services provider for processing smaller payments. For deposits of £500 and above we will continue to cover the processing costs for our customers.
Am I right in thinking that the fee that coinfloor charges to do faster payments means you'd be just as well off doing a bitstamp wire?
Nope, no fees so long as you send 500 GBP plus, which is their minimum in any case:
https://www.coinfloor.co.uk/deposit
I'm going to send them my first GBP deposit and try them out, BitStamp have been making me a bit nervous recently.
They notified me that it's been credited, approx four hours from being sent, I wasn't expecting it until tomorrow morning as it was sent after their midday cut off time for a same day credit, so all very good there, now placed some bids.
Edit: Bids filled and I requested a BTC withdrawal which was processed the next morning so looks like no hot wallet which is a good thing imo, price and fees were fine - I shall be using them again.
They notified me that it's been credited, approx four hours from being sent, I wasn't expecting it until tomorrow morning as it was sent after their midday cut off time for a same day credit, so all very good there, now placed some bids.
Edit: Bids filled and I requested a BTC withdrawal which was processed the next morning so looks like no hot wallet which is a good thing imo, price and fees were fine - I shall be using them again.
Am I right in thinking that the fee that coinfloor charges to do faster payments means you'd be just as well off doing a bitstamp wire?
I'm not going to question peoples regrettable past experience with this "nefario" character - but Coinfloor is starting to look like the real deal to me. They not only have a (major) UK bank on board, but they have just appointed Adam Knight as Executive Chairman. Some of his past experience/credentials are listed here.
I opened an account with Coinfloor when they started up - and then didn't use it. I may now start - my trust being put in much more than just one man.
I opened an account with Coinfloor when they started up - and then didn't use it. I may now start - my trust being put in much more than just one man.
Same here bro - I have contacted Co-founder/Coinfloor Support team - they always respond in a timely manner and they also share our concerns regarding liquidity, security, stability, etc - compared to the other major European Exchanges.
It's still early days and I'm sure they will continually evolve the site, it's the only way to remain competitive!
They definitely need to implement automated BTC withdrawals (cheers btw to funsponge for testing!) I did pick up on that, manually processing withdrawals 1-3times/day is inadequate. They could follow the Bitstamp model and just manually process "Large" BTC withdrawals.
Great to see their margin over Bstamp has decreased significantly over the past week (+7% to +1%), although Daily trading Volume still very low <50BTC/day, that said it is growing and gotta respect them for that.
Definitely one for UK Bitcoiners to keep on radar
Affiliate banking partner; Lloyds Group, "Capital Account"
If any of you guys have accounts here, like me could you test out my trading app I developed for coinfloor?
If you don't want to sign in, tho perfectly safe. It allows for easy access to current Ticker data and Orderbook.
https://play.google.com/store/apps/details?id=uk.jgriffsta.bitcoinconnect
If you do use the app could you leave some feedback, my first App I spend a significant amount of time making. (Still learning!)
If you don't want to sign in, tho perfectly safe. It allows for easy access to current Ticker data and Orderbook.
https://play.google.com/store/apps/details?id=uk.jgriffsta.bitcoinconnect
If you do use the app could you leave some feedback, my first App I spend a significant amount of time making. (Still learning!)
I'm not going to question peoples regrettable past experience with this "nefario" character - but Coinfloor is starting to look like the real deal to me. They not only have a (major) UK bank on board, but they have just appointed Adam Knight as Executive Chairman. Some of his past experience/credentials are listed here.
I opened an account with Coinfloor when they started up - and then didn't use it. I may now start - my trust being put in much more than just one man.
I opened an account with Coinfloor when they started up - and then didn't use it. I may now start - my trust being put in much more than just one man.
hey guys, Coinfloor advertises/advertised that they are "provably solvent":
http://blog.coinfloor.co.uk/post/82980052547/coinfloors-first-provable-solvency-report
http://blog.coinfloor.co.uk/post/89187240631/provable-solvency-report-3-june-2014
What do you think about this?
Anybody analised this in detail?
When I try to download their old solvency check file from their blog:
https://s3-eu-west-1.amazonaws.com/provablesolvency/solvency_20140416.txt
.. I get an AccessDenied xml file!
Their blog doesn't have any comments enabled, they seem to have one-way communication.
Did any of you lately successfully deposited:
Do you think is safe to use Coinfloor just for few days - just to convert my GBP to BTC in the cheapest and fastest way?
I want to use it as they now have a real UK (which is fast) and no fees for deposit and no fees for trading!
Also, I don't loose money while exchanging from GBP to EUR and/or USD.
PS: What i get when trying to download https://s3-eu-west-1.amazonaws.com/provablesolvency/solvency_20140416.txt
Access Denied
55B8CB3198DF0934
D9AFmzpAoMKwcQOfKgqY+cHMDRLUenVq9HdKnnSz0xT1jPzjtPfOuaDA9vlE4kTP
http://blog.coinfloor.co.uk/post/82980052547/coinfloors-first-provable-solvency-report
http://blog.coinfloor.co.uk/post/89187240631/provable-solvency-report-3-june-2014
What do you think about this?
Anybody analised this in detail?
When I try to download their old solvency check file from their blog:
https://s3-eu-west-1.amazonaws.com/provablesolvency/solvency_20140416.txt
.. I get an AccessDenied xml file!
Their blog doesn't have any comments enabled, they seem to have one-way communication.
Did any of you lately successfully deposited:
- GBP to CoinFloor,
- exchanged it to BTC and
- withdraw BTC to your own private address ?
Do you think is safe to use Coinfloor just for few days - just to convert my GBP to BTC in the cheapest and fastest way?
I want to use it as they now have a real UK (which is fast) and no fees for deposit and no fees for trading!
Also, I don't loose money while exchanging from GBP to EUR and/or USD.
PS: What i get when trying to download https://s3-eu-west-1.amazonaws.com/provablesolvency/solvency_20140416.txt
Code:
AccessDeniedD9AFmzpAoMKwcQOfKgqY+cHMDRLUenVq9HdKnnSz0xT1jPzjtPfOuaDA9vlE4kTP
Could try coincorner.com who also have UK banking...
Please don't encourage or condone the scammers. 
hey guys, Coinfloor advertises/advertised that they are "provably solvent":
http://blog.coinfloor.co.uk/post/82980052547/coinfloors-first-provable-solvency-report
http://blog.coinfloor.co.uk/post/89187240631/provable-solvency-report-3-june-2014
What do you think about this?
Anybody analised this in detail?
When I try to download their old solvency check file from their blog:
https://s3-eu-west-1.amazonaws.com/provablesolvency/solvency_20140416.txt
.. I get an AccessDenied xml file!
Their blog doesn't have any comments enabled, they seem to have one-way communication.
Did any of you lately successfully deposited:
Do you think is safe to use Coinfloor just for few days - just to convert my GBP to BTC in the cheapest and fastest way?
I want to use it as they now have a real UK (which is fast) and no fees for deposit and no fees for trading!
Also, I don't loose money while exchanging from GBP to EUR and/or USD.
PS: What i get when trying to download https://s3-eu-west-1.amazonaws.com/provablesolvency/solvency_20140416.txt
Access Denied
55B8CB3198DF0934
D9AFmzpAoMKwcQOfKgqY+cHMDRLUenVq9HdKnnSz0xT1jPzjtPfOuaDA9vlE4kTP
http://blog.coinfloor.co.uk/post/82980052547/coinfloors-first-provable-solvency-report
http://blog.coinfloor.co.uk/post/89187240631/provable-solvency-report-3-june-2014
What do you think about this?
Anybody analised this in detail?
When I try to download their old solvency check file from their blog:
https://s3-eu-west-1.amazonaws.com/provablesolvency/solvency_20140416.txt
.. I get an AccessDenied xml file!
Their blog doesn't have any comments enabled, they seem to have one-way communication.
Did any of you lately successfully deposited:
- GBP to CoinFloor,
- exchanged it to BTC and
- withdraw BTC to your own private address ?
Do you think is safe to use Coinfloor just for few days - just to convert my GBP to BTC in the cheapest and fastest way?
I want to use it as they now have a real UK (which is fast) and no fees for deposit and no fees for trading!
Also, I don't loose money while exchanging from GBP to EUR and/or USD.
PS: What i get when trying to download https://s3-eu-west-1.amazonaws.com/provablesolvency/solvency_20140416.txt
Code:
AccessDeniedD9AFmzpAoMKwcQOfKgqY+cHMDRLUenVq9HdKnnSz0xT1jPzjtPfOuaDA9vlE4kTP
I'd be excited if there was no scammer tag........
Funny how the scammer reputation of the company's principals taints the company itself.
Oh wait - actually that makes sense.
_Still_ waiting for Nefario to disclose my holdings to each issuer. Well, not waiting exactly - I long ago concluded that he is unconcerned about the fact that his actions cost me dearly.
And people are thinking about trusting him with their hard-earned funds? Fools, money, and hastened losses...
Quote
Key Highlights
You can now deposit funds with Coinfloor from UK via local bank transfer (Faster Payments) for free.
We will process deposits daily at 2 PM on business days. Faster Payments will usually credit in your account the same day but may take up to 24 hours.
All you need to do is copy the new UK bank details including your new reference code from Coinfloor's Deposit page.
Minimum deposit amount for the Capital Account is £500. Deposits below £500 can be made to our PKO account in Poland. Withdrawals will still be sent out from PKO while we transition over to the new setup.
You can now deposit funds with Coinfloor from UK via local bank transfer (Faster Payments) for free.
We will process deposits daily at 2 PM on business days. Faster Payments will usually credit in your account the same day but may take up to 24 hours.
All you need to do is copy the new UK bank details including your new reference code from Coinfloor's Deposit page.
Minimum deposit amount for the Capital Account is £500. Deposits below £500 can be made to our PKO account in Poland. Withdrawals will still be sent out from PKO while we transition over to the new setup.
I'd be excited if there was no scammer tag........
Coinfloor is now accepting UK fast payments deposit - thru their UK bank The Royal Bank of Scotland.
trading is 0% fees currently.
trading is 0% fees currently.
Jolly good. They must've realised that was their main reason for existing.
Coinfloor is now accepting UK fast payments deposit - thru their UK bank The Royal Bank of Scotland.
trading is 0% fees currently.
trading is 0% fees currently.
I came across CoinFloor and was tempted by their "UK roots", having looked further into it I discovered they use a foreign bank account (which is what led me back to this thread). Needless to say, I will be staying with BitStamp\BTC-e. Shame.
Jump to: