2

Fiat currencies

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Cryptocurrencies

Details

Product Name CoinBurp Cryptocurrency Exchange
Fiat Currencies GBP, EUR
Cryptocurrencies BTC, ETH, BCH, LTC, XRP & XLM
Deposit Methods CHAPS
Faster Payments (FPS)
BACS
Trading Fee 0%
Deposit Fees £0.50 (under £100), £0 (over £100)
Withdrawal Fees Fiat £5, Crypto varies
Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply.

Overview of CoinBurp

The brainchild of BitBroker co-founder, Peter Wood, CoinBurp is a UK-based cryptocurrency brokerage that executes your trade orders against one or many of its cryptocurrency liquidity providers. Its user-friendly interface is designed to make buying and selling crypto pain-free.

However, don’t expect any bells and whistles at this stage. Its current offering is simply a trading platform. So if you are after a crypto wallet or crypto debit card, you may want to consider a different exchange.

CoinBurp does have big plans for the future though. These include its – yet to be launched – NFT shop and additional features such as repeat and advanced trades and an educational portal.

    • If this is your first exchange: You will find an easy to use platform which supports the most popular cryptocurrencies and has glowing reviews from users.
    • If you’re switching exchanges: Don’t expect anything in terms of extra features. While CoinBurp is looking to allow customers to purchase NFTs soon, its main service is just regular crypto trading.

Pros and cons of CoinBurp

Pros

  • Zero trading fees
  • No deposit fees for crypto and GBP deposits over £100
  • Good customer service – rated 4.9 stars out of 5 on Trustpilot
  • Low minimum deposits

Cons

  • Only has temporary FCA registration
  • GBP withdrawals fees and minimums are high
  • Card deposits are not accepted
  • No FSCS protection

Verdict: Is CoinBurp any good?

CoinBurp provides an easy to use trading platform with a simple and clear fee structure. Its user experience does stand out; including its streamlined KYC process and the speed and efficiency of trades. However – at this stage – there is not much else offered up in the way of extra services.

Crypto investors who are looking for some educational resources or features such as a debit card so they can use their crypto investments, will be disappointed. All that may come in time for CoinBurp, but for right now what it has to offer is a helpful service, competitive fees and a positive user experience.

What to know about CoinBurp

CoinBurp’s main focus is to facilitate crypto trades. While it doesn’t have an extensive list of crypto coins it supports, it does have the main ones including BTC, ETH and LTC. It works like any other broker, but its selling point is that it doesn’t charge a trading fee. Plus, if you deposit over £100, you can also avoid paying any deposit fees. Just keep in mind that you will typically find a minimum spread of 1.5% on transactions.

What you do need to keep in mind is that at the time of writing, CoinBurp only has FCA Temporary Registration. This means that it can operate as a business, but it does not yet hold full FCA registration under the money laundering, terrorist financing and transfer of funds regulations.

Finder ratings

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What is it like to use CoinBurp?

With CoinBurp you will find an easy to use trading platform with a fast and streamlined KYC process.

Does CoinBurp have good customer support?

While CoinBurp’s customer support options may seem limited, reports from users are of friendly and helpful staff. The main method of contact is email, but you can also contact them through Facebook messenger or sign up to the CoinBurp Telegram group.

Support OfferedWait Times
Contact us form🅧🅧
Live chat🅧🅧
Email supportSame day

List of services on CoinBurp

There’s not an array of extras or advanced features to take advantage of with CoinBurp. Instead, what you have is an easy to use trading platform with a clear and simple fee structure.

Trading on CoinBurp

The experience of trading on CoinBurp is a positive one. Once you are verified, you can make trades either using the web platform or the mobile app. Simply select if you want to buy, sell or convert your crypto, how much and which coin. You will then have an opportunity to review your trade before you complete it, including any fees. CoinBurp has a 0% trading fee, so anything you see at this point will be fees associated with deposits or withdrawals.

Trust rating

Past Hacks

CoinBurp has not had any past hacks.

Security Audits

CoinBurp commissioned HashEx to complete an audit in July 2021. The purpose of the audit was to identify potential security issues with smart contracts and formally check the logic behind given smart contracts. CoinBurp responded and resolved the issues highlighted in the report.

Insurance

Cold storage is provided by BitGo, which includes £100 million in insurance protection through Lloyd’s of London. This covers digital assets where the private keys are held 100% by BitGo.

Signing up on CoinBurp

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Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.

Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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