Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.
Solidi review 2023
A UK-based crypto exchange, Solidi offers instant purchases of popular cryptocurrencies and is registered with the UK financial regulator.
- You can invest as little as £2
- A limited selection of crypto assets
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Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply.
1
Fiat currencies
4
Cryptocurrencies
Details
| Product Name | Solidi Cryptocurrency Exchange |
|---|---|
| Fiat Currencies | GBP |
| Cryptocurrencies | BTC, LTC, ETH, XRP & 1 more |
| Deposit Methods |
Bank transfer |
| Trading Fee | No transaction fees |
| Deposit Fees | No fee for crypto deposit. £0.50 for GBP deposit. |
| Withdrawal Fees | Variable fee for crypto withdrawal. £0.50 for GBP withdrawal. |
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.
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.
Pros and cons of Solidi
Pros
- Offers instant transactions for a handful of major cryptocurrencies
- Sign up process is quick and straightforward
- You can invest small amounts
- You don’t need to provide identity documents as a Tier 1 starter
Cons
- Limited number of currencies to invest in
- The prices you’re offered may not be very competitive
- You may encounter a lack of liquidity when trying to buy and sell
- There is not a dedicated mobile app
Verdict: Is Solidi any good?
While Solidi purports to offer instant crypto transactions, the lack of assets, clunky interface and poor liquidity doesn’t make it a great choice if you’re looking to buy and sell popular cryptocurrencies.
With how many easy-to-use, professional crypto exchanges are available these days, Solidi is unlikely to be the go-to choice for most beginner or experienced investors.
Finder ratings for Solidi
| Supported cryptocurrencies | ★★★★★ |
| Transferring money or assets | ★★★★★ |
| Fees and costs | ★★★★★ |
| Ease of use | ★★★★★ |
| Customer service | ★★★★★ |
| Features | ★★★★★ |
| Staking/earning | ★★★★★ |
| Trustworthiness/security | ★★★★★ |
| Overall score | 2 |
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 Ziglu or 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.
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.
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.
| Support offered | Wait times | |
|---|---|---|
| Phone support | Yes | Available Monday to Friday, 9 to 5 |
| Live chat | No | No |
| Yes | 1 business day |
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.
Promotions on Solidi
Solidi does have a promotion that sees you stand to earn yourself a bonus £10 reward with your first £100 investment. However, there is no refer a friend type of scheme currently running.
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
Solidi comparison table
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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.
