Wall of Coins is a newly-established decentralized peer-to-peer cryptocurrency exchange platform that mostly operates with Bitcoin, Bitcoin Cash, Dash, and Pivx. Since the website was launched at the beginning of 2017, Wall of Coins is relatively new. Nonetheless, the goal of this service is to provide a tight security and to become world's number one cryptocurrency exchange platform. Employees at Wall of Coins are constantly working on improving and optimizing it for a vast majority of platforms, with the quality of service being the primary concern. So far, the company is known for their air-tight security and emphasis on the user's privacy.
The whole idea for Wall of Coins began in 2014 when a group of experienced cryptoanalysts gathered and started working on their new Bitcoin exchange platform. After years of hard work, Wall of Coins was finally launched in 2017 and became reality just at the right moment. Nowadays, Wall of Coins is much more than a Bitcoin exchange service, offering several cryptocurrencies for the users to trade with. It’s a full-fledged peer-to-peer market for buying and selling cryptocurrencies. However, it’s a USA-based company and as such, it’s focused on the USA residents.
Interested in how Wall of Coins compares to other crypto exchanges? We have compared all major cryptocurrency exchanges in this article.
As we mentioned before, Wall of Coins is formed by a group of professionals with a distinctive goal, and when you read about Wall of Coins, you’ll often come across the term “safety”. It is without a doubt one of the safest crypto exchange platforms on the internet. Unlike many other similar services, Wall of Coins doesn’t require any kind of authentication and you don’t need to send your ID, passport, your picture, etc. Despite this, Wall of Coins security is one of the major pros of this exchange.
Furthermore, the website has a huge community trust, which it gained in a very short time. If we take a look at social media, we can see that the exchange has come a long way since its inception. Another reason why this cryptocurrency exchange is safe is the so-called offline cold storage. The offline cold storage is where all of the funds and coins are kept, meaning that the safety is guaranteed. Finally, Wall of Coins has all the necessary information on their website and they are completely open to the public.
Take advantage of the security features!
The customer support on Wall of Coins is one of the best we’ve seen so far. It’s clear that this is a new company and they want to keep their public relationship at the highest possible level. Customer support, combined with air-tight security provides an unmatched experience that has instantly won us over. First, Wall of Coins customer support has a phone number that we can use at any time if we have suggestions, questions or doubts. This is a great way of providing the new customers with the guidance that will enable them to quickly start trading.
If you take a look at the lower right portion of the website, you’ll see a Live Chat function. By enabling it, you can communicate with the company’s personnel in order to get help. In our experience, you’ll wait no more than five minutes for them to answer your inquiry. And if you aren’t in a hurry, you can always use their business email, which is a bit slower compared to the other options. Usually, they respond within 24 to 48 hours.
It’s clear that Wall of Coins offers some amazing features for the users. However, this is where the things become slightly disappointing. As we said earlier, Wall of Coins put their emphasis on the USA market, thus almost completely excluding Europe and completely excluding almost all other continents on the planet. But, not everything is hopeless. There are still some crypto exchange platforms that are very limited, for example, BitQuick, which is strictly focused on the USA. Nonetheless, here is a complete list of supported countries:
Wall of Coins is overall a beautiful website. When you first open the website, you are greeted by a huge Wall of Coins logo and all of the features are located just underneath. These features are Buy, Sell, and API. From here, you can scroll down to see what else Wall of Coins offers and every feature is presented with a nice, high-resolution picture for added convenience.
We can’t help but enjoy interacting with the design and interface. On top of that, live chat called Laura, was added.
Now, as far as the registration goes, you can expect minimal struggle and minimal waste of time. In the upper right corner, Wall of Coins has a special Start button that will take you on to the registration process. Upon opening it, you’ll be prompted to choose a country and then input your mobile phone. The email is optional, while the password is a must.
After that, you’ll be a registered Wall of Coins member and you can engage in the buying and selling. If you are in doubt about these processes, Wall of Coins will send you an SMS upon registering, explaining exactly how to buy cryptocurrencies through the platform.
Don't waste time, sign up quickly and start trading!
They say that reputation is built over time and since Wall of Coins is not around for long, their reputation is better than expected. The main reason why many users respect the personnel behind the website is that they have great relations with the public. Although your privacy is their primary concern, their privacy is almost non-existent. You can freely browse the website, ask anything you want, and get some in-depth answers. Also, don’t be surprised if the Live Chat opens itself to ask if you have any questions, or if they can help you in some way.
Various social media provide proof of the exchanges importance and customer satisfaction. This is where their reputation grows each day, thanks to the ever-growing community surrounding the Wall of Coins. Finally, it’s important to mention that Wall of Coins didn’t suffer from any kind of breach of security, making it one of the safest exchanges out there.
This is where the things get interesting. Apparently, Wall of Coins doesn’t charge any fees. If you look at the website carefully, you won’t see almost any mentions of the fees themselves. Like they say, whether it’s a process of buying or selling your cryptocurrencies, you won’t get charged at all. Withdrawal fees are also excluded, leaving you in doubt if this is really possible. Just like you thought – it’s not.
On the bright side, the fees are very low. In our experience, the fees may vary between 1% and 2%, which isn’t that much. Many crypto exchanges may charge you up to 6% and this is 3-5 times less, so we can’t complain. On top of that, the amount you’re charged isn’t from Wall of Coins directly, but a network fee. If Wall of Coins was available worldwide, it would quickly take over the cryptocurrency market with such low fees.
Now is the time to start buying cryptocurrencies!
When it comes to payment methods, we can say that Wall of Coins is pretty limited, unfortunately. But, it’s justified to some extent as it’s primarily focused on the USA market, and the payment methods for the USA are mostly different than those in Europe, Australia, etc. With that in mind, Wall of Coins offers three possible ways of payment.
For buying Bitcoin or Dash, Wall of Coins offers Bank of America’s Teller Assist, cash deposits at the bank, or MoneyGram deposits option. We are quite surprised that PayPal isn’t on this list since this is the most preferred way of payment. Nonetheless, you can never go wrong with cash deposits.
The trick with the cash deposit method is that you must have some money on your bank account in order to buy or sell your crypto. With this, there is an additional hassle, because you have to physically go to your bank, leave the desired amount of cash, and then buy Bitcoin from the particular seller on Wall of Coins.
When it comes to selling your crypto, the same process is in play, although you need to provide your phone number and username. You can find more details about buying and selling your cryptocurrencies in the next section of the review.
As we are talking about the payment methods, it’s important to mention the (lack of) limits. Wall of Coins lets you sell and buy Bitcoins in any desired quantity, but there is a minimum of $5. Aside from that, you are free to sell and buy any quantity of crypto.
Sending Crypto on Wall of Coins is as easy as it sounds. Before sending (selling) your crypto, you need to provide your phone number and username, and you’ll get a permanent crypto address. By using this address, you’ll also receive some of the coins there until you sell them for a profit. Moving onto selling, it’s important to know that seller sets the price. So, after setting your price and you find acceptance from the buyer, wait for the notification via text message that the deposit has been paid.
Now, simply check your bank account to see if the money is there. Carefully check if the amount is right and then release the coins to the buyer. The buyer may have to wait around 5 to 15 minutes for the coins to appear.
To receive (buy) Crypto using your Wall of Coins account, the bank deposit is a must. Naturally, this is the inverted process of selling your crypto, so you are in the role of the buyer. First, you must visit your bank and deposit the money from your account to the seller’s bank account. Important to mention is that ATM is not an option allowed in this process.
After this, be sure to respond to the bank's text message with the code they provide you, in order to complete the deposit process. If the seller doesn't get his money immediately, don't worry, as the transaction might take up to few minutes. Once again, it takes a maximum of 15 minutes to receive your coins after the seller releases them.
Wall of Coins is an ever-growing crypto exchange service that promises a lot and gives even more. But, is it really great like it sounds? If you want a crypto exchange service that comes with hundreds of different cryptocurrencies, Wall of Coins probably isn’t for you. Since this is a fairly new company, we are quite surprised that there are cryptocurrencies aside from Bitcoin. However, Wall of Coins has some strong advantages that put it above many other crypto exchanges.
First, it offers seamless transactions with almost zero fees and if there are some fees, they never go above 2%. On the other hand, you may be disappointed by the fact that it's limited to the USA and a few of other countries. But, Wall of Coins carefully covers all of its limits with blazing-fast performance, as well as an in-depth customer support service.
All in all, Wall of Coins is a service that will surely undergo minor and major changes, so it’s hard to tell how well will it perform in the future. As of now, the website has a huge support from its users and its very small fees are what makes this site more than economic. If you want a stable, reliable, and fast way for crypto exchanges, look no further than Wall of Coins.
You can check out all of the most popular cryptocurrency exchanges in one article here.
Have you traded on Wall of Coins? Do you have any advice or suggestion for the other readers? Let us know in the comment section below!
LocalBitcoins is an exchange that allows users to buy and sell Bitcoins either in person or using an online escrow system. The platform is designed to let traders exchange Bitcoins however they'd like.
BitQuick is an online service that allows users to buy and sell Bitcoins. It is not a brokerage that directly buys and sells, but rather an escrow service that connects customers.