>> (p.1)
    Author Topic: Coinfloor UK  (Read 16854 times)

    • practicaldreamer (OP)
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    March 27, 2014, 05:09:55 PM
     #1
    Coinfloor is going live today - though I personally am having problems loading their homepage - must be the demand I suppose.

    Its registered with HMRC as a Bureau de Change.

    Sounds good. Whats the general feeling about this new UK based exchange ?

  • railzand
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    March 27, 2014, 05:21:56 PM
     #2
    https://bt.irlbtc.com/view/537545.0

    There's a bit of a thread.
    tl;dr proceed with extreme caution. treat as hostile
    a summary of the logs

  • mr smith
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    March 27, 2014, 05:29:13 PM
     #3
    Think i will give this one a miss. Sounds shady at best, an exchange would need to be registered with the FSA.
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  • meanig
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    March 27, 2014, 05:32:11 PM
     #4
    If they're registered as a Bureau de Change it sounds more like a Coinbase sort of business than a proper trading exchange.

  • jbreher
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    March 27, 2014, 06:06:39 PM
     #5
    Isn't Coinfloor the biz that Nefario is involved in? If so, I'd not go anywhere near it. Nefario's shady dealings in the shutdown of GLBSE cost bitcoiners $Millions.

    If this is some other biz, I apologize in advance.
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  • malevolent
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    March 27, 2014, 07:13:50 PM
    Last edit: July 12, 2014, 09:47:45 PM by malevolent
     #6
    Quote from: jbreher on March 27, 2014, 06:06:39 PM
    Isn't Coinfloor the biz that Nefario is involved in?

    Yes. Note how they conveniently hid him under "The Team" label.

    https://web.archive.org/web/20140221001405/http://coinfloor.co.uk/team.html

    and

    https://www.coinfloor.co.uk/team

    edit: https://www.coinfloor.co.uk/about-us
    Signature space available for rent.

  • Brandon_Cryptonit
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    March 28, 2014, 12:30:23 PM
     #7
    I have noticed one more strange thing
    On their site they claim that company registration number is 08493818
    The company that is registered under this number is "COINFLOOR LIMITED"
    proof screeshot http://gyazo.com/a74370f84fa87eec4d879b9c9939dc83

    HMRC reg number they claim is 12713897, but on HMRC you will find another company "Coin Floor" with another address under this number...
    prooflink http://gyazo.com/d19183dc02a7d50308d0057f822249c1
    that simply means Coinfloor LTD has not been registered at HMRC as "Bureau de change".
    Both registries are public so I have just confronted the data from both of them and the data from their AboutUS page.
    thus, what they claim is not true. think yourself
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  • il--ya
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    March 28, 2014, 12:41:12 PM
    Last edit: March 28, 2014, 12:53:25 PM by il--ya
     #8
    Quote from: Brandon_Cryptonit on March 28, 2014, 12:30:23 PM
    I have noticed one more strange thing
    On their site they claim that company registration number is 08493818
    The company that is registered under this number is "COINFLOOR LIMITED"
    proof screeshot http://gyazo.com/a74370f84fa87eec4d879b9c9939dc83

    HMRC reg number they claim is 12713897, but on HMRC you will find another company "Coin Floor" with another address under this number...
    prooflink http://gyazo.com/d19183dc02a7d50308d0057f822249c1
    that simply means Coinfloor LTD has not been registered at HMRC as "Bureau de change".
    Both registries are public so I have just confronted the data from both of them and the data from their AboutUS page.
    thus, what they claim is not true. think yourself

    I think you misunderstood a few things here.

    Firstly, HMRC doesn't have publicly accessible companies register. You are talking about Companies House, http://wck2.companieshouse.gov.uk//companysearch.

    Here is what they've got in their register:
    Name & Registered Office: COINFLOOR LIMITED
    C/O BUCKWORTH SOLICITORS
    200 ALDERSGATE, LONDON, ENGLAND, EC1A 4HD
    Company No. 08493818
    Previous Names:
    Date of change 29/05/2013 Previous Name COIN FLOOR LTD

    Secondly, there is no company registered under number 12713897, which you mentioned. This is an HMRC certificate number which coinfloor do mention on their site:

    Quote
    Coinfloor is a company registered in England and Wales registration number 08493818. We are a registered Bureau de Change. Her Majesty's Revenue and Customs certificate number 12713897. Our company is registered at 200 Aldergate C/O Buckworth Solicitors EC1A 4HD London, United Kingdom.

    I guess this is a certificate of money service business registration. However I couldn't find them in the publicly accessible register neither here (the service cease on 31 of March 2013) nor here. Could be just a malfunctioning HMRC service.

  • Brandon_Cryptonit
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    March 28, 2014, 12:57:50 PM
     #9
    My first piece of text is related to Companies House registry, you are right.

    Quote
    HMRC doesn't have publicly accessible companies register...
    ...However I couldn't find them in the publicly accessible register neither here (the service cease on 31 of March 2013) nor here.
    go here https://customs.hmrc.gov.uk/msbregister/search.do?type=newSearch
    then in "Money Laundering Regulations registration number" field enter 12713897 (I took it from their site, you quoted it as well)
    in Postcode type EC1N 8SB
    click search
    then you will see a record but for another spelled company "Coin floor" (with a space, not Coinfloor) and with another address.
    my screenshots from the previous post show it clearly
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  • il--ya
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    March 28, 2014, 01:09:51 PM
     #10
    Quote from: Brandon_Cryptonit on March 28, 2014, 12:57:50 PM
    My first piece of text is related to Companies House registry, you are right.

    Quote
    HMRC doesn't have publicly accessible companies register...
    ...However I couldn't find them in the publicly accessible register neither here (the service cease on 31 of March 2013) nor here.
    go here https://customs.hmrc.gov.uk/msbregister/search.do?type=newSearch
    then in "Money Laundering Regulations registration number" field enter 12713897 (I took it from their site, you quoted it as well)
    in Postcode type EC1N 8SB
    click search
    then you will see a record but for another spelled company "Coin floor" (with a space, not Coinfloor) and with another address.
    my screenshots from the previous post show it clearly


    HMRC service doesn't work for me, don't know why. But if you were able to find HMRC money service registration, this just proves that they do have a valid certificate. They registered with HMRC at the same time as they changed their name, hence HMRC shows the old name.

    HMRC website says (from your screenshot) Date registered: 01/06/2013
    Companies house website says: Date of change 29/05/2013 Previous Name COIN FLOOR LTD
    Probably they filed for both name change and money service certificate simultaneously.

    "Trading address" for the bureau de exchange doesn't have to be the same as a company registration address. Company number and money service certificate number are different things altogether. Nothing shady here.

  • Brandon_Cryptonit
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    March 28, 2014, 01:20:49 PM
     #11
    Quote
    They registered with HMRC before they changed their name, hence HMRC shows the old name.
    maybe you are right.
    I just was confused to see different company names and addreses.
    Common sense says that there are no problems here
    but from the legal point of view that HMRC certificate is not valid for the company mentioned on the site. Talking about money (customer's money) I prefer to have everything in order Smiley
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  • jbreher
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    March 29, 2014, 02:25:27 AM
     #12
    Quote from: malevolent on March 27, 2014, 07:13:50 PM
    Quote from: jbreher on March 27, 2014, 06:06:39 PM
    Isn't Coinfloor the biz that Nefario is involved in?

    Yes. Note how they conveniently hid him under "The Team" label.

    https://web.archive.org/web/20140221001405/http://coinfloor.co.uk/team.html

    and

    https://www.coinfloor.co.uk/team


    In that case, please indulge me as I copy what I posted in another thread:

    Quote from: jbreher
    Nefario -- with malice of forethought -- shut GLBSE down in a manner guaranteed to cause many or most of the exchange's users to lose money. He deliberately chose to not send asset owner data to each and every asset issuer. He deliberately chose not to allow asset holders, nor asset issuers access to even a snapshot of the final balances of their accounts.

    I could go on (and on and on) as to how the shutdown was maximally bungled.

    The bottom line is that he deliberately chose to cause his users to lose $millions.

    If that's the kind of person you wish to entrust with your funds, I have no response.
    Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.

    I've been convicted of heresy. Convicted by a mere known extortionist. Read my Trust for details.

  • grifferz
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    April 01, 2014, 08:56:17 AM
     #13
    Disappointed to note that Coinfloor uses a Polish bank, says deposits will take "1-5 days" and will cost £5.

    If that is the case then I fail to see the point of this exchange for UK residents, aside from the worrying Nefario connection.

    In the UK we can already send EUR to Kraken or Bitstamp's banks; with Kraken that usually takes 1 working day and is free to deposit (your bank may charge for SEPA transaction though). Both Kraken and Bitstamp have a UK postal address (not that this would be any use if they shut down tomorrow) same as Coinfloor.

    So, what is the point of Coinfloor when it appears to be in every way inferior to Kraken and Bitstamp?

  • railzand
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    April 01, 2014, 09:03:51 AM
     #14
    the point is to steal the money
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  • gentlemand
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    April 01, 2014, 10:50:48 PM
     #15
    The main thing that counts with an exchange claiming to be in the UK is a Uk bank account so you can deposit within minutes.

    This isn't it. There are safer, more established and way cheaper options in Europe. I dunno why they're wasting their and everyone else's time.

  • wedgy2k
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    April 06, 2014, 08:56:57 AM
     #16
    Quote from: grifferz on April 01, 2014, 08:56:17 AM
    Disappointed to note that Coinfloor uses a Polish bank, says deposits will take "1-5 days" and will cost £5.

    If that is the case then I fail to see the point of this exchange for UK residents, aside from the worrying Nefario connection.

    In the UK we can already send EUR to Kraken or Bitstamp's banks; with Kraken that usually takes 1 working day and is free to deposit (your bank may charge for SEPA transaction though). Both Kraken and Bitstamp have a UK postal address (not that this would be any use if they shut down tomorrow) same as Coinfloor.

    So, what is the point of Coinfloor when it appears to be in every way inferior to Kraken and Bitstamp?

    £5 deposit for them + the £22 Natwest want to charge me for sending cash abroad (Polish Account)
    The new GBP payment Bank for OKPAY (To get cash into BTC-e) is czech republic so again a £22 fee.
    (OKPAY used to be my favoured method for getting cash in)

    As stated in previous posts I would prefer a UK bank that accepts faster pay TX with no ridiculous fees
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  • grifferz
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    April 06, 2014, 03:09:37 PM
     #17
    Quote from: wedgy2k on April 06, 2014, 08:56:57 AM
    £5 deposit for them + the £22 Natwest want to charge me for sending cash abroad (Polish Account)
    The new GBP payment Bank for OKPAY (To get cash into BTC-e) is czech republic so again a £22 fee.
    (OKPAY used to be my favoured method for getting cash in)

    As stated in previous posts I would prefer a UK bank that accepts faster pay TX with no ridiculous fees
    You are being absolutely ripped off by Natwest there as well though. Co-Op Smile for example charge £8 for a SEPA transfer, and some banks charge £1 or nothing (don't know which ones). Even £8 is robbery really as SEPA has been around for ages and I doubt it is any harder for them to do than BACS within UK is.

    I agree with you about the Faster Payments thing and could not believe Coinfloor would even bother opening without having that to a UK bank.

  • wedgy2k
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    April 06, 2014, 03:43:25 PM
     #18
    Quote from: grifferz on April 06, 2014, 03:09:37 PM
    You are being absolutely ripped off by Natwest
    Yes I (we) are  Angry
    I don't think GBP out of the UK is done via SEPA
    Natwest see this as an international wire transfer and charge £22
    I think SEPA only applies to Euro's € (but I may be wrong)
    Euros to Bitstamp go via SEPA (£10 fee lol) but the exchange rate is a ripoff
    € 1.18 Natwest Rate instead of the € 1.2 I can get everywhere else

    Its a shame that Transferwise and Currencyfair were warned off by their banking partners
    I used to get a good Exchange rate and only a €3 fee to send.

    There has got be another way around this especially as BTC-e are now trading GBP too.
     
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  • malevolent
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    April 06, 2014, 03:55:51 PM
     #19
    Quote from: wedgy2k on April 06, 2014, 03:43:25 PM
    I don't think GBP out of the UK is done via SEPA
    I think SEPA only applies to Euro's € (but I may be wrong)

    Yup, SEPA is only for transfers denominated in EUR.
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  • yenom
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    April 16, 2014, 06:41:03 PM
     #20
    I opened an account with them but I am not sure whether I want to send my money to Poland via international wire. I really am put off by that. I had a look on the coinfloor site and they do say this:
    Quote
    To add currency to your Coinfloor account, please find our account details in the "Deposit" tab and transfer the intended amount via bank transfer. Depended on your bank, this can take up to 5 working days.

    We are currently looking to expand our British Pound deposit options.

    Maybe they will add a UK bank this year?
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