CoinFalcon Exchange Review, and Analysis
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There were less than 50 reliable cryptocurrency exchanges in 2012. Today, thousands of exchanges have been set up in different countries all over the world. Some, like CoinFalcon, are region specific and will only allow traders from the UK. Some offer services globally.
The notion behind the establishment of the new platforms which facilitate transactions in cryptocurrency is just to make the transactions transparent and secure.
A new front has been opened for traders. Now there are plenty of platforms where one can invest and earn hefty amounts in return. However, with so many cryptocurrency exchanges already in the market, it has become really difficult for investors to make a choice regarding the best exchange platform. The following is a review of CoinFalcon.
What is CoinFalcon?
CoinFalcon is a London – based currency exchange platform established with the goal to offer trading services in the U.K. zone specifically although the website has also been launched in the German version too. The product range on the website is very limited i.e. it offers only particular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, IOTA, and Ether etc. Its CEO is ‘Jordan Steeves’ and his mission is to liberate users from the trap of government rules and regulations.
The ultimate attribute of CoinFalcon exchange is that it provides instant and real-time buying & selling of currencies. This is why; it seems preferable to investors, even more than other exchange platforms such as Poloniex or Bitfinex.
As an exception, there are some cryptocurrencies i.e. Bitcoin and Ether which can only be traded against EUR while others currencies such as Litecoin and IOTA are traded against Bitcoins. Thus, it limits the scope of its users.
CoinFalcon facilitates the exchange of currencies in specific countries only and especially, U.S. citizens are not allowed to participate in either kind of investments or trading options.
How to trade on CoinFalcon?
The buying or selling process on CoinFalcon is very simple. Follow these steps to trade on the exchange-
- Create an account on CoinFalcon and login
- Visit the ‘Dashboard’ and then click on the ‘Buy/Sell’ option.
- There is a drop-down menu where currencies are listed. This gives you an option to select your currency for exchange.
- After that, there is an option ‘Pay with’ shown in the drop-down menu where the available currency is exchanged for another cryptocurrency.
- Further, you need to click on the ‘Buy’ button to complete the transaction.
CoinFalcon charges a negligible fee for the transactions executed on its platform. However, the transaction fee charged depends on the two factors whether the currency is being deposited or withdrawal is made and the other one is which currency it is traded. CoinFalcon has also kept its maximum fee as 0.25% of the transaction amount. The charges incurred by CoinFalcon for each currency are as follows-
|IOTA||No Fee||IOTA||No Fee|
*There is an exception about CoinFalcon that is, if any sender sends his cryptocurrency to a wrong address, then he can recover it by paying charges i.e. 20 EUROS.
There is no complex and time-consuming documentation required. Instead, users are only asked to register via KYC or AML guidelines. In fact, CoinFalcon doesn’t require specific documents based on U.K. laws. It is very flexible in terms of the verification process.
What makes CoinFalcon different from other exchange platforms?
- Trading View Feature: It provides the real-time information of the market. If anyone wants to trade he can analyze his decision on the basis of market charts, trading history, and online chatting room etc.
- Instantaneous Trading: The traders can buy or sell on CoinFalcon in an instantaneous manner.
- Referral program: This program provides an opportunity to traders to earn a high income as if they refer their friends or family members, they can receive the 50% of the trading fee.
The advantages of using CoinFalcon as currency exchange platform is-
- Flexible Trading Platform: CoinFalcon is a trading platform whose interface is simple and can be used even by novice users. It provides full-fledged flexibility to users in several aspects i.e. language, cost, and time. It gives them comfort and ease.
- Versatile: There are plenty of options for depositing and withdrawing the money. Additionally, CoinFalcon lists several of the top cryptocurrencies to offer traders variety.
- Security: On CoinFalcon, user’s funds are stored in offline wallets which prevent the risks of cyber-attacks. It is the major concern for investors and traders.
- Minimum Fee: CoinFalcon charges a fee of only 0.25% of the transaction amount. Also, whatever fee is charged, it is shown to the users at first instant. There is no hidden fee charged later from users.
- Accessibility: CoinFalcon is approachable through different platforms i.e. Desktops and Mobile Phones.
- The Anonymity of the Transactions: The user’s identity is anonymous on CoinFalcon. They just need to go through the login procedure and no need of submitting identity verification documents.
All these features of CoinFalcon make it a trust-worthy and conspicuous exchange. In fact, it pays higher attention in maintaining the transparency and integrity of the platform. This platform seems 100% reliable and safe.
There are few challenges which users face on CoinFalcon exchange platform
- No Acceptance of Fiat Currency and Debit/Credit Cards: Earlier it was said that CoinFalcon will accept EUR in exchange for Bitcoin and Ether. Later, it was cleared in the further scenario that CoinFalcon doesn’t provide cryptocurrencies in exchange for fiat currencies. Along with the fiat currency, it has also banned the payments from debit or credit cards. Even bank transfers or PayPal are not applicable.
- Limited User Base: CoinFalcon has explicitly mentioned on the registration page that the client should not belong to the U.S. While it is very clear that today most of the investors and traders of cryptocurrency are from the U.S, it limits its reach.
- No Leverage Trading: CoinFalcon trades on the ratio of 1:1. It does not provide any leverage to its traders. Therefore, for traders, CoinFalcon doesn’t seem like an appropriate option.
CoinFalcon should think of including U.S. clients in order to increase its user base and also provide leverage trading for getting more clients.
Is CoinFalcon safe?
CoinFalcon has a robust security system which is mentioned on its home page that assures 98% security to users’ funds. There have been reviews given by users that it does not use two-factor authentication key for ensuring the safety of currency. Instead, cold, offline wallets are used for storage of funds. Ultimately, it gives users higher satisfaction as while using online wallets, they fear of malicious attacks or third-party service providers. On the other hand, offline wallets work as banks where the money is absolutely safe as per believed by people.
How to use CoinFalcon?
The steps to be followed by individuals to use CoinFalcon are as follows-
- Go to the website CoinFalcon.com and there is an option given for ‘SIGNUP’ at the bottom of the page.
- The user just needs to Sign Up with the valid email address and password.
- After entering the details, CoinFalcon asks you to open your given email ID and click on the given option ‘Confirmed Verification’ which will further take you back to CoinFalcon’s web page.
- Now the user can deposit the coins, buy or sell cryptocurrencies, in short, can start trading.
In a Nutshell
Today, many exchange platforms have already been established such as Bitfinex, Poloniex, and Kraken etc. But CoinFalcon is distinctive from all of them due to its secure and versatile nature. It has achieved high status in the market as it enables the trading with just blink of an eye. Its simple interface used by beginners increases its user base. It does not seem to be involved in any kinds of scams or hack. It can be stated that CoinFalcon is a good choice in terms of trading your cryptocurrency through it.
That’s it so far forCoinFalcon. Hope you enjoyed reading my CoinFalcon exchange review. Make sure to read our reviews on other exchange platforms!