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UK Bitcoin Exchange Coinfloor Opens Registration, Incentivizes Early Adopters

Coinfloor is now accepting registrations from users looking to conduct GBP-to-BTC trading.

Mar 27, 2014 at 5:18 p.m. UTC
Updated Sep 11, 2021 at 10:35 a.m. UTC

UK-based bitcoin trading exchange Coinfloor launched its services on 27th March, meaning users are now able to register to trade pound sterling for bitcoin via the platform.

Coinfloor had originally aimed to start services on 5th November, but experienced delays due to technical problems.

— Coinfloor (@Coinfloor) March 27, 2014

Notably, the company has recognized the impact of the delay, and is offering an incentive program to those who submitted verification documents in November.

Coinfloor indicated these exchange users would each receive a 50% discount on trades made during the company's first 30 days of operation.

To be eligible, these users must also create an account on Coinfloor within the next five days.

Service improvements

In an email to Coinfloor customers, the company indicated that it has done extensive testing since November, upgrading its system to increase the reliability of its platform.

While it moved to assure early registrants that their data was safe, Coinfloor also indicated that due to this process, this group would need to repeat certain registration steps.

Read the email:

"Unfortunately this means that you will need to create a new account and submit verification documents again."

Verification, Coinfloor noted, could take up to one week.

About Coinfloor

Coinfloor indicates that it operates with a 100% cold storage policy. It also claims to provide the same security standards as the Bank of England, a prospect many customers are likely to appreciate given the recent issues reported by myriad bitcoin exchanges, including Bitcurex, Poloniex, and most notably, Mt. Gox.

Reads the Coinfloor website: "No bitcoin are ever stored on a server, ensuring that if an attacker had complete access to any of our online servers, our client bitcoin would not be compromised."

— Coinfloor (@Coinfloor) March 5, 2014

As of now, the exchange plans to stay bitcoin-only, though it has indicated it is monitoring other developments in digital currency.

For more information on Coinfloor, read our original launch coverage here.

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