GlobalBlock review 2023

Overview of GlobalBlock

GlobalBlock is a trading platform and broker which is a publically traded holding company whose common shares trade on the TSX Venture Exchange. It lets you invest in cryptocurrencies via a slick trading app and an online trading platform, and one of its unique selling points is that you can also 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’re looking for a bit of guidance when it comes to trading cryptocurrency, it could be a good fit for you.

GlobalBlock is not on the Financial Conduct Authority’s cryptoasset firm register as it operates from Lithuania. 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. However, it is supervised by the Financial Crime Investigation Service under the Ministry of Interior of the Republic of Lithuania within the scope of the Law on Prevention of Money Laundering and Terrorist Financing.

• 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

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.

Finder ratings for Globalblock

• How we rate our crypto exchanges and platforms

  Finder's editors objectively assess each platform across a spectrum of performance metrics using a system of 1 to 5 stars, which are designed to help you assess a crypto platform's strengths and weaknesses. You can read our full methodology here.

  Our rating and selection of the best crypto exchanges is based on the same criteria as our annual Crypto Trading Platform Awards, updated by our editorial team throughout the year to reflect changes in the market.

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 a fixed fee based on your transfer. There will also be a spread, which 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.

• Supported cryptocurrencies

  GlobalBlock supports around 97 cryptocurrencies and you can trade 20 pairs via its app. Supported currencies include:

  • BTC
  • ETH
  • XRP
  • BCH
  • EOS
  • LTC
  • ADA
  • XLM

  • NEO
  • USDT
  • ETC
  • BNB
  • OMG
  • ZIL
  • ONT
  • DOGE

• Transferring fiat and cryptocurrency

  You can transfer fiat funds to your GlobalBlock account, and they will be credited and ready to trade quickly. As a first-time user, it’s not instantly clear how to go about doing this through the online platform. The app is more straightforward, but you will need to wait for your account to be verified before you can make a deposit, which can also be made via Open Banking.

• Fees and costs

  GlobalBlock charges no fees when making deposits or withdrawals, and you’ll be shown the cost of each transaction before it’s confirmed. However, you will pay what’s known as a spread, which means the price you’ll be offered when buying a specific cryptocurrency may be slightly higher than the underlying market.

  Fiat withdraw and deposit fees

  Deposit	Withdrawal
  £0	£0

  Crypto withdrawal and deposit fees

  Deposit	Withdrawal
  Varies	Varies

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.

• Getting started

  Account registration is simple, with the entire verification process able to be completed online.
  

• GlobalBlock app

  GlobalBlock’s mobile app is extensive, and provides you with a detailed overview of market movements.
  

• Trading markets

  Through GlobalBlock, you have access to its online and mobile trading platform. Here you can see different crypto markets and benefit from TradingView charts and Market depth charts.
  

• Customer service

  GlobalBlock prides itself on customer service, and this can be seen in the reviews on TrustPilot. Once set up, you will be allocated a personal account manager in order to provide you with one to one service.
  

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. You can also contact GlobalBlock via its secure messenger, Qwil. Or alternatively you can use its live chat feature which is available weekdays 9am to 5pm.

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

• Step 1: Register via the app

  Head to GlobalBlock’s website and scan the QR code to download its app.

• Step 2: Provide your details

  When prompted, enter your email address and a chosen password.

• Step 3: Verify your email

  You will receive an email with a verification link in. Simply click on this and then return to the app.

• Step 4: Enter mobile number

  The app will prompt you to enter your mobile number. Shortly after this you will receive a verification code via SMS that you will need to input into the appropriate box.

• Step 5: Verify your identity

  At this point you will be able to view GlobalBlock’s trading platform. However, if you want to be able to buy or sell any crypto coins you will need to go through the identity verification process. This can all be done via the app.

• Step 6: Submit a photo of your ID

  Upload a photo of your ID. This can be a driving license or passport.

• Step 7: Submit a selfie

  You’ll be asked to take a selfie. Don’t worry, no silly expressions are needed. Just line your face up with the oval on the screen and press the button.

• Step 8: Wait for ID verification

  This is the only slightly annoying part, as you will need to wait for the details you have supplied to be checked. When we tested it, the automated process failed. Which meant a longer wait for the documents to be manually checked.

Compare GlobalBlock against other exchanges

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Disclaimer: Star ratings are only displayed for products with 10 or more reviews.

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