Following CoinfloorEX Sale, Coinfloor Bitcoin Exchange Reopens UK Faster Payments to Lower Fees


Coinfloor which is a UK Bitcoin exchange has just gone ahead to announce that the recent sale is done for their CoinfloorEX, the company will now be refocusing on its core EUR and GBP bitcoin exchange offering together with the customer base. For the company to be able to start all this off, they have ensured that they have brought back the UK Faster payments.

What To Know About The Faster Payments?

The Faster Payments has been established as a GBP only for withdrawals and deposits method that has been made to be very fast and inexpensive when it is being transferred from the UK banks.

With this service, the Faster Payments only needs a six code standard digit together with an eight-digit account number not forgetting the user's reference code that has been assigned by Coinfloor will be required when you would like to effect a GBP transfer.

There Will Be A Fee-Free Enjoyed On The UK Faster Payment Till The End Of February

For the company to adequately celebrate this new launch of the UK Faster Payment, Coinfloor has gone ahead to initiate a fee-free service, this is where the company will not be charging any fees on any of the UK GBP Faster Payments that have been made, this is both for the withdrawals and the deposits for the few days left in January till the end of February.

There Will Be Lower GBP Fees On Withdrawal Together With A Reduce Fiat Withdrawal And Deposits As From 1st Of March 2019

With the lower cost service that is being offered on the UK Faster Payments, it allows the Coinfloor company to charge £2.50 for the deposits that are made and about £5 for the withdrawals done using this mechanism. The exchange has gone on to state that it will also be reducing the withdrawals that are made through the International Wire Transfer, CHAPS or BACS to about £30, from fees of about £60.

But this is not all, together with this reintroduction of the UK Faster Payments platform, the Coinfloor company has also been able to reduce the minimum deposits together with withdrawal amounts that can be made. The new deposits minimum will be at €/$/£1000, down from the values of €/$/£5000. For the withdrawal minimum, it has been set at €/$/£500 down from the values of €/$/£2000.

It is important to note that the UK Faster Payment minimums will be made effective as from now, while the other minimum changes that have been announced will take effect on the 1st of March 2019.

According to the Coinfloor team, they are very excited about the crypto market in 2019, and they are expecting to see very many technological, commercial together with regulatory advances taking place in the next few months.

The team goes on to state that they remain to be committed to providing all the customers with a more focused, convenient and a useful service that will help them in gaining the needed exposure to the new incredible innovation that has hit the market, and with today’s announcement should be a demonstration of the company’s intent.

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