Despite Europe being far more open to the idea of Bitcoin and other virtual currencies, there are still quite a few hurdles to overcome when purchasing Bitcoin for the very first time. There are already various exchange platforms available to European customers, but having more competition in this market can only be beneficial in the long run. CoinCorner, a reputable Bitcoin exchange based in The Isle of Man, has now expanded their services to European customers.
CoinCorner – Strategic Base in the Isle of Man
As of last year, the Isle of Man has become home to various Bitcoin companies and startups. The reason for this change is simple to explain; the Isle of Man embraces Bitcoin and virtual currencies and even local banks are slightly more lenient when it comes to business relations. For such a small country, the Isle of Man has proven to be quite a big name in the Bitcoin industry.
It only seems to make sense for Bitcoin companies based in the Isle of Man to target the European virtual currency market. CoinCorner, one of the many Bitcoin exchanges around the world, is doing exactly that, as they are now expanding their fiat currency support to include not only GBP but also EUR trading.
Over the past year and a bit, CoinCorner has made a name for itself among citizens of the United Kingdom. Despite facing stiff competition from platforms such as Bittylicious and CoinFloor, CoinCorner is one of the top Bitcoin exchange platforms dealing with the GBP fiat currency trading pair.
“We receive a lot of interest from European countries but have historically held off launching our Euro platform as we were concentrating on growing our UK focused business. There are a number of exchanges and platforms to buy bitcoin on across Europe, but we feel our on boarding process is by far one of the quickest and easiest.” – CoinCorner CTO Danny Scott told DigitalMoneyTimes.
But that is not all, as CoinCorner steps up its game by adding support for SEPA transfers as well. This move makes a lot of sense, as nearly every European country with notable activity in the Bitcoin world is supported by the SEPA bank transfer protocol. Doing so brings the number of payment methods for the CoinCorner platform to three: credit/debit cards, wire transfers, and SEPA transfers.
Additionally, CoinCorner introduced a new tool called “Simple Buy”. This feature allows customers to deposit funds to their account, which will be used to automatically complete a Bitcoin purchase as soon as CoinCorner receives the money. This feature will be available for all payment methods, making the entire Bitcoin purchasing process a lot more user-friendly and streamlined.
Germany is a Hot Bitcoin Market
A little-known fact is how Germany is one of the largest Bitcoin markets in all of Europe. Ever since the German version of LocalBitcoins was shut down due to regulatory concerns, the number of exchanges serving German customers has dipped. CoinCorner wants to fill this gap, by offering their website in a multilingual version, including German.
“Analysis has shown that a significant number of visitors to our site do not speak English as their first language. Our aim is to make Bitcoin as easy as possible for everyone and in order to do this, we have decided to offer our services in a variety of languages, starting with German. We’re always looking for ways to improve the user experience.” – CoinCorner Marketing Manager Molly Spiers told DigitalMoneyTimes.
Source: Press Release via Email
Images courtesy of Shutterstock, CoinCorner