Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply.
GlobalBlock review 2022
A UK crypto broker that lets you make trades via the app, online or over the phone.
- You won’t pay any funding or withdrawal fees.
- Only offers a handful of cryptocurrencies on the app.
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3
Fiat currencies
96
Cryptocurrencies
Details
| Product Name | GlobalBlock Cryptocurrency Broker |
|---|---|
| Fiat Currencies | GBP, EUR, USD |
| Cryptocurrencies | BTC, ETH, XRP, BCH, EOS, XVG, LTC, ADA, XLM, TRX & 85+ more |
| Deposit Methods |
Bank transfer Cryptocurrency |
| Deposit Fees | None |
| Withdrawal Fees | None |
Overview of GlobalBlock
GlobalBlock is a UK-based trading platform and broker that lets you invest in cryptocurrencies in a number of convenient ways. It offers a slick trading app and online trading platform in which to do this. One of its unique selling points is the ability to make trades via phone or through its secure messaging service. You will also find once you have created your account, you’ll be allocated a personal account manager to help you manage your investments. GlobalBlock is easy to use with multiple trading avenues and transparent fees. It places an emphasis on customer service, so if you are someone looking for a bit of guidance when it comes to trading cryptocurrency, it could be a good fit for you.
GlobalBlock is currently on the Financial Conduct Authority’s temporary cryptoasset register. Crypto trading isn’t regulated, but firms based in the UK have to register with the watchdog and they must pass checks for anti-money laundering and anti-terrorism activity.
- If this is your first exchange: You will benefit from a personal account manager who can help you manage your investments.
- If you’re switching exchanges: You will find an easy-to-use trading platform with multiple trading avenues. However, as GlobalBlock is only a broker, you may find you can get better prices through dedicated crypto exchanges.
Pros and cons of GlobalBlock
Pros
- Lets you make trades in a number of ways
- Offers trades in GBP, USD and EUR
- There are no deposit or withdrawal fees
- You have a dedicated account manager to help you
Cons
- Limited number of currencies offered on the app
- You can get better prices through dedicated crypto exchanges
- Novice traders may find the user interface overwhelming
Verdict: Is GlobalBlock any good?
GlobalBlock is a broker that prides itself on multiple trading avenues, dedicated account managers and providing a secure cryptocurrency investing platform. Due to its lack of funding or withdrawal fees, and its emphasis on customer service, it’s an option worth considering for investors looking for a bit of guidance when it comes to trading cryptocurrency.
However, though its trading options are varied and well-designed, for a complete novice trader it may all still feel overwhelming. The good news is that you will have an account manager to guide you through it. GlobalBlock is transparent with its fees, but that doesn’t necessarily mean you will be receiving the best price. As a crypto broker rather than a crypto exchange, you may find that its prices are higher than what you can find elsewhere.
What to know about GlobalBlock
The important thing to know about GlobalBlock is the cost of each transaction. While it has no fees for making deposits or withdrawals, GlobalBlock will charge you what’s known as a spread. This means the price you’ll be offered when buying a specific cryptocurrency may be slightly higher than it is on the underlying market.
It’s also worth knowing that reviews on GlobalBlock’s customer service are glowing. Many users commented that received a high level of support and felt that their crypto assets were secure.
Finder ratings
| Supported cryptocurrencies | ***** |
| Transferring money or assets | **** |
| Fees and costs | ***** |
| Ease of use | *** |
| Customer service | ***** |
| Features | * |
| Staking / earn rating? | * |
| Trustworthiness / security | **** |
| Overall score | **** |
What is it like to use GlobalBlock?
As a trading platform, GlobalBlock may seem daunting at first look. But excellent customer service means that users feel supported.
Does GlobalBlock have good customer support?
GlobalBlock offers excellent customer support. Unlike other crypto exchanges/brokers, once your account is opened you’ll be allocated a personal account manager. If that is not enough, then you can request a call back from one of the team or make use of GlobalBlack’s contact us form. While there is no live chat feature or forum available, you are able to contact GlobalBlock via its secure messenger, Qwil.
| Support offered | Wait times | |
|---|---|---|
| Contact us form | Yes | Same day |
| Live chat | No, but there is instant messaging | Unclear |
| Forum | No | No |
List of services on GlobalBlock
As GlobalBlock is a trading platform, not an exchange, it doesn’t offer services you would find with other crypto exchanges like earning, crypto debit cards or borrowing facilities. Instead, its services are set up to help you manage your digital assets effectively. Meaning it has multiple trading avenues at your disposal and a personal account manager to help you manage your investments.
Trust rating
Past Hacks
GlobalBlock has not had any past hacks.
Security Audits
GlobalBlock has partnered with Qredo to provide a Layer 2 digital asset tracking and settlement infrastructure. This provides a cryptographically provable security layer that enables real-time cryptoasset transfer. As part of this, GlobalBlock has secure cold storage for client funds.
Customers can also set up two-step account verification in order to keep their accounts secure.
Insurance
As part of its security measures, GlobalBlock has insurance options in place covering crypto assets from theft or malicious intents.
Signing up on GlobalBlock
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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.