CoinCorner
 | |
| Founded | June 2014 |
|---|---|
| Headquarters | Douglas, Isle of Man |
| Founder(s) |
Daniel Scott Phil Collins Charlie Woolnough David Brown |
| Area served | UK and Europe |
| Website | www.coincorner.com |
CoinCorner is a universal bitcoin solutions provider, based in the Isle of Man.[1]
Overview
CoinCorner launched as the first bitcoin exchange on the Isle of Man.[2] Users can purchase bitcoins a number of ways, including via bank transfer, credit card and debit card.[3]
CoinCorner is focused on security and keeps over 90% of customer funds in cold storage as well as offering two-stage authentication to all users.[4]
Products and Services
- Exchange
- eWallet
- Mobile wallet (for Android, iOS and Windows Phone)
- Payment gateway
- Point of sale application
Transactions
- Buy/sell bitcoins
- Send/receive bitcoins
Fees
- There are no fees for depositing, withdrawing or storing bitcoins.
- There is a 1% fee for buying and selling bitcoins.
The complete list of fees are available on the website.
Merchant Tools
- Payment buttons
- Payment pages
- Payouts
- API available
History
The development of the platform began in May 2014.
CoinCorner was founded on 18 June 2014.
In July 2014, the exchange went live for trading.
CoinCorner launched Phase 2 in September 2014, which included:
- Public/Private APIs
- Mobile Cloud Wallets for iOS and Android.
- Point of Sale App and Terminal
- Merchant Gateway for Ecommerce
- Company Billing
In October 2014, CoinCorner announced that customers could deposit via credit card and debit card.[5]
In January 2015, CoinCorner moved to offices in Douglas, in the centre of the Isle of Man’s business district.
The Company received an undisclosed amount of funding from a private investor.
The Isle of Man introduced regulations for digital currency businesses on 1 April 2015,[6] and CoinCorner became the first cryptocurrency exchange in the world to fall under the Proceeds of Crime Act 2008 on the Isle of Man.
Bitcoin and the Isle of Man
The Isle of Man has welcomed bitcoin-related businesses,[7] with Head of e-commerce for the Isle of Man, Peter Greenhill, telling Business Insider, "The aim is to be the most attractive place in the world for cryptocurrency companies to work from."[8]
The Isle of Man Government amended the Proceeds of Crime Act 2008, introducing regulations to cover bitcoin companies, including exchanges, operating on the island from 1 April 2015. They believe that "A combination of regulation and encouragement can not only reverse bitcoin's reputation, but also push it towards the mainstream."[9] These businesses must now comply with the Isle of Man’s anti-money laundering (AML) laws.
References
- ↑ "FAQs", CoinCorner.
- ↑ "CoinCorner Launches as Isle of Man's First Cryptocurrency Exchange", CoinDesk.
- ↑ "All About CoinCorner Bitcoin Exchange", CoinCorner.
- ↑ "FAQs", CoinCorner.
- ↑ "CoinCorner Now Accepts Debit and Credit Cards for Bitcoin Purchases", CoinDesk.
- ↑ "Isle of Man Introduces Regulation for Bitcoin Businesses", CoinDesk.
- ↑ "Isle of Man Welcomes Digital Currency Exchanges 'No License Required'", CoinDesk.
- ↑ "Here's the Isle of Man's plan to become a Bitcoin paradise", Business Insider.
- ↑ "Bitcoin Island: cleaning up the crypto currency", BBC.