Solidi review 2024

Overview of Solidi

Solidi is a UK cryptocurrency platform and exchange that lets you buy, sell and transfer crypto assets like Bitcoin and Ethereum instantly. While it offers a quick account setup and lets you transfer with the click of a button, it only lists 4 cryptocurrencies. It also doesn’t have a dedicated mobile app, meaning that the only way you can access the platform is through your web browser. Solidi is on the Financial Conduct Authority’s register of crypto firms that have passed checks for anti-money laundering.

There are no transaction fees applied to trades, but do expect deposit and withdrawal fees for both fiat and crypto. Solidi is also severely lacking in any extra services, providing just the basics of a crypto exchange.

• If this is your first exchange: You will benefit from being able to make trades instantly without having to go through identity verification. You can also start investing from as little as £2.
• If you’re switching exchanges: There’s not much to offer experienced investors. Beyond quick account set up, Solidi doesn’t have much in the way of extra services.

Finder ratings for Solidi

• How we rate our crypto exchanges and platforms

  Finder's editors objectively assess each platform across a spectrum of performance metrics resulting in our Finder score, which is designed to help you assess a crypto platform's strengths and weaknesses. You can read more details in our full methodology.

  Our best crypto exchanges are those our editors have evaluated to be the best for certain product features or categories, out of all crypto exchanges registered with the UK's Financial Conduct Authority.

What to know about Solidi

Solidi is relatively basic with a limited number of supported cryptocurrencies. Its user interface is pretty basic and doesn’t have things like a dashboard to see multiple live market rates. While you can see your transactions all in one place, it doesn’t really stack up to what other exchanges like Zumo offer. The absence of a mobile app also means that users can’t easily make trades on the go.

Solidi’s main selling point is instant transactions. The signing up process is quick and easy, and as a Tier 1 Starter you can make low value transactions almost immediately. While Solidi has a set fee for fiat deposits and withdrawals, its fee for crypto withdrawals varies. There is an option for a low cost withdrawal, which will see withdrawals processed in batches every 8 hours. Alternatively, you can opt for a high priority withdrawal at a higher cost which occurs every 2 hours, or there is an immediate withdrawal that is broadcast in 10 minutes.

• Supported cryptocurrencies

  Solidi supports 4 cryptocurrencies, which is well below what other exchanges can offer. However, these do include the main coins in the form of Bitcoin and Ethereum.

  • BTC
  • ETH
  • LTC
  • XRP

• Transferring fiat and cryptocurrency

  You can make GBP deposits via bank transfer. Solidi supports most of the major banks in the UK and are looking to add more as soon as it confirms their status. GBP transfers are processed instantly and your funds should arrive within minutes.

  In order to transfer cryptocurrencies into your Solidi account, you will first need to scan the QR code provided. If you wish to transfer crypto coins out, you will need to provide a withdrawal address and select whether you are happy to have the low cost withdrawal, high priority or immediate.

• Fees and costs

  Solidi has no fees attached to transactions. The price displayed is the price you pay or receive. However, it does charge a £0.50 fee for GBP deposits and withdrawals, while fees for crypto withdrawals vary. At present, its 3-tiered withdrawal fee system is available for Bitcoin and Litecoin withdrawals. But if you wish to withdraw Ethereum or Ripple, you are stuck paying an immediate withdrawal fee.

  Fiat withdraw and deposit fees

  Deposit	Withdrawal
  £0.50	£0.50

  Crypto withdrawal and deposit fees

  Ziglu has one single exchange fee for trading cryptocurrencies.

  Deposit	Withdrawal
  £0	Varies

What is it like to use Solidi?

Solidi makes it easy to get registered and make your first trade. But there is not much else on offer in terms of user experience.

• Getting started

  Account registration is very quick, with only three steps to complete before you can start trading.
  

• User experience

  The platform is a bit clunky and doesn’t appear to be particularly slick compared to other crypto exchanges available.
  

• Customer service

  Solidi does have someone on the end of the phone – Monday to Friday – if you need help.
  

Does Solidi have good customer support?

Solidi offers customer support via the phone or by email. Reports on Trustpilot say that response times are quick and that staff are helpful and kind.

List of services on Solidi

Solidi doesn’t have an extensive list of additional services. Its offering is rather basic, mainly catering just to trades.

Trading on Solidi

You can buy and sell the 4 supported cryptocurrencies through the platform. It works by you placing your order and making your payment including the deposit charge. Prices are guaranteed for 30 minutes, so if you don’t make your payment within that time your order will be cancelled.

Due to liquidity restraints, crypto withdrawals can also take time. To keep costs low, Solidi typically processes withdrawals of crypto coins in batches.

Trust rating

Past hacks

Solidi has not had any past hacks.

Security Audits

Solidi is registered with the Financial Conduct Authority and claims to be the only instant purchase exchange to be on the register. It stores 100% of a customer’s crypto offline in secure storage and has 2FA enabled for its accounts.

Insurance

Solidi does not have any insurance in place, so if the company goes bust your assets cannot be recovered.

Signing up on Solidi

• Step 1: Register online

  Head to Solidi’s website and register by providing your name, date of birth and email address.

• Step 2: Verify your email address

  You will then receive an email with a 4 digit verification code in it. Enter this on the website to confirm your email address.

• Step 3: Enter your postal address

  Next you will need to enter your postal address. Solidi will verify this in order to give you instant access.

• Step 4: Go to settings

  At this point your account will be all set up and you can start trading as a Tier 1 Starter. However, if you want to make larger trades, then head to Settings on your account and scroll down to Identity Verification.

• Step 5: Upload documentation

  You will need to upload two forms of documentation: your ID and proof of address. You can see the list of documents accepted on the Solidi website, and you just need to provide a photo of both.

• Step 6: Wait for ID verification

  This is the slightly frustrating part, as you will need to wait for the details you have supplied to be checked. This can take up to one day and in our road test it took close to 24 hours.

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