Wall of Coins is a peer-to-peer exchange and marketplace that enables users to buy and sell Bitcoin by directly connecting buyers and sellers.
The exchange charges no fees for transactions and advertises that privacy and security are its main features, boasting 100% cold storage reserves.
How it Works
The platform lets users buy or sell Bitcoin in exchange for cash. This makes Wall of Coins convenient to use, especially for beginners that are looking to buy Bitcoin without providing ID, as it has an SMS system for confirmation on the platform.
There are no restrictions on the method of payment that sellers can use to receive payments for their coins. Buyers, however, must confirm on the order book the payment method. Most users prefer physically depositing cash into the account of the Bitcoin selling through the bank.
Features
Limits
The platform does not present any official buying limits for Bitcoin, as the maximum amount of BTC that can be bought at a certain time is dictated by the offers that sellers post. The minimum amount that users can purchase is five dollars’ worth of Bitcoin.
Registration
To buy Bitcoin on the platform, users are not required to provide their personal information, just their phone number and their location so the platform can detect the bank branches that are in the user’s proximity.
In order to sell Bitcoin, users should register on the platform with their contact details, consisting of the phone number, email, and password, after which they can access the sale portal.
Interface
The website features a simple and attractive design, with an easy to navigate interface and visibly labelled exchange functions. The design language evokes a style from pre-HTML5 days, in a positive way.
The dynamic backgrounds, scrolling animations, and opaque site navigation give Wall of Coins a very professional aesthetic.
Transparency
The platform employs accounting on the Bitcoin address, allowing users to monitor and evaluate whenever they want all the transactions which take place.
This, in turn, lets buyers audit their orders and have complete control of their coins while sellers can make use of the company’s GPG keys to audit and validate the authenticity of deposits owned by the platform.
Security
To ensure the safety of their coins, they are kept in the offline cold storage, which guarantees that they cannot be stolen, as the cold storage has strict internal policies. In addition, the platform has incorporated Artificial Intelligence that identifies and deters any fraudulent transactions on the platform.
Account creation is temporary and not strictly necessary, and their 2-factor authentication mechanism is easy to use.
Accessibility
Wall of Coins is among the first marketplaces in the industry which allows its users to buy and receive their coins in a period of 15 minutes without having to go through a lengthy registration and verification process.
Customer Support
Support is provided in the form of a live chat box available 24/7 via which the team is ready to help customers with any problems they might have during their transactions with Bitcoin.
The platform also offers a toll free number which users can call to contact the staff for quick assistance.
Verdict
Wall of Coins’ exchange platform features a convenient way of purchasing Bitcoins for those that are looking to buy crypto using cash and without presenting any ID upon registration. Its simplicity and design are ideal for beginner traders looking to get into BTC.
But for those people that are looking for a day to day exchange platform, they best look for other options.
Image Source: wallofcoins.com
