Founded in April 2016, CoinsBank’s mission is to transform the blockchain and cryptocurrency industry by offering users a broad spectrum of blockchain services. According to some reports, the company is operated by CB Exchange LP, which is based in the UK. Their headquarters is listed as Suite 2, 5 St Vincent St, Edinburgh, EH36SW, Scotland, United Kingdom. Although this company is based in the UK, it is said to be licensed under the International Financial Services Commission (IFSC) of Belize and also registered with FinCEN MSB in Belize.
Currently, CoinsBank is able to work with the following fiat currencies such as U.S. Dollars, Euros, and British Pounds. They are working to add more “acceptable” fiat currencies from around the world.
Some of their service offerings include a wallet for the storage of digital coins and debit cards so that users have direct access to their wallets, without having to use an app or any other device. Furthermore, it provides access to an exchange.
In addition, Coinsbank has developed a merchant solution, allowing e-commerce and online services to receive payments in cryptocurrencies.
Its cryptocurrency wallet currently supports Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), and Ripple (XRP).
Some of the wallet’s most critical features are as follows:
- Dependable and immediate deposit and withdrawal methods
- All transactions are highly secured
- Supports major currencies such as: Euro, US dollar, Sterling, and others
- There is unlimited free transfer between CoinsBank account holders
- Customer support available 24 hours a day, 7 days a week
- A Secure mobile app
- Two-factor authentication to boost security levels
- Four cryptocurrencies supported: Bitcoin, Litecoin, Ripple, and Ethereum
- Mobile app is compatible with Android and iOS devices
- Reports and account management tools are made available on the mobile app
The CoinsBank mobile app can be used for both Android and iOS devices. It comes with the following features such as data encryption within the mobile app. This way, no one will have access to your money without your authorization. You have access to its security settings, giving you the option to configure what level of security you choose to have. You also get notifications about all transactions made from your account. You are also able to receive system notifications as well as important news.
Moreover, security levels are heightened with its use of a robust and “reinforced log-in process. All users are required to enter their mobile phone number, a password, and a confirmation code (for 2FA). As another option, CoinsBank gives users the choice of using Google Authentication.
In order to further improve account security, users are able to set up a session time for their wallets. After this period of time expires, the system will automatically log them out. In order to spot any suspicious activity, the activity log will demonstrate the IP details of each session. A monthly limit for card operations will also be incorporated so the funds can be securely monitored.