Crowdfunding campaigns are becoming an ever popular trend in the world of finance, as it gives companies an opportunity to raise additional funds without relying on a handful of angel investors. CoinCorner is the latest Bitcoin company to venture into the world of crowdfunding, as their campaign has launched on Seedrs.
CoinCorner – Bitcoin and Blockchain Services Industry Leader
Anyone who has been involved in the world of Bitcoin and cryptocurrency for some time now will have heard of CoinCorner at some point. This British company is focusing their efforts on Bitcoin and blockchain services, and the crowdfunding campaign on Seedrs will help them expand their offerings to Europe.
One of the main goals of building a Bitcoin exchange is to focus on the consumer side of things. As the consumer is always king, keeping up with their demands can become a costly manner. This is one of the reasons why CoinCorner decided to organize a crowdfunding campaign, but there is a secondary purpose to this idea as well.
CoinCorner is one of the very few Bitcoin exchanges which also offer a Blockchain App Store. Even though the company has been developing blockchain technology for internal purposes, the goal is to make these tools available to developers and entrepreneurs around the world, according to CoinCorner CTO Danny Scott.
Additionally, CoinCorner was one of the first Bitcoin exchanges to start accepting credit and debit cards, a tactic that is considered “far too risky” by most other exchanges around the world. However, with a strong verification implementation in place, the fraud rates are lower than one would expect.
Furthermore, CoinCorner was the world’s first cryptocurrency exchange to full under the Proceeds of Crime Act 2008. Due to the company being based in the Isle of man, they have taken the necessary steps to follow legislation for digital currency business introduced by the local government earlier this year.
Crowdfunding Campaign on Seedrs
Regarding funding, CoinCorner took the approach of starting out on a self-funded basis for the first nine months. At that time, the company received an investment sum of £150,000 from angel investor Alex Holt. This money was then used to developed the CoinCorner product range, grow the team, and becomes the UK’s largest consumer-focused Bitcoin exchange.
The crowdfunding campaign launched on Seedrs is aimed at raising an additional £300,000 to ensure sustainable growth of the Bitcoin exchange platform across other European countries. Multiple new languages will be supported, and the customer support staff will be expanded as well.
As of last Thursday, the crowdfunding campaign went live on Seedrs; and will run for a total of 60 days. In exchange for raising £300,000; CoinCorner is putting up 6.71% of the company equity up for “sale”/ At the time of publication, nearly 10% of the total amount needed has been raised in the first 36 hours, which is quite an impressive feat.
Source: Press Release Via Email
Images courtesy of CoinCorner, Seedrs, Shutterstock