Bitcoin-Only Exchange Coinfloor Now Focuses on Consumer BTC Services

While the crypto community is talking about "Altcoin season," one of the world's oldest crypto exchanges is calling BS on everything that is not BTC.After turning into a Bitcoin-only exchange, the United Kingdom's oldest cryptocurrency exchange Coinfloor is now expanding its consumer BTC services.

Focused on Bitcoin, the world's first ever cryptocurrency, Coinfloor is launching a range of new consumer-oriented investing and trading services in order to make Bitcoin easy for everyone, the firm said in an announcement shared with Cointelegraph on Feb. 19.Coinfloor wants to reduce stress of buying BitcoinAs part of its "No BS" approach to crypto, Coinfloor is starting to launch its new set of services today with the "No BS Education" guide.

The new educational section on Coinfloor website is intended to provide free access to provide simple and trusted knowledge about cryptocurrencies and Bitcoin such as on how to buy crypto and choose a crypto exchange.

"Too many of our peers provide questionable, complicated and dishonest services to try and exploit novice consumers. It's just as important to honestly educate people about crypto in clear language and reduce the complexity that's prevented widespread adoption and stopped Bitcoin from fulfilling its incredible potential."

Reducing min deposit amount from $1,300 to about $300Coinfloor's other new services include auto buying Bitcoin service and multi-signature bitcoin custody.

"With nearly 6 years worth of Bitcoin Audits, no one comes close to our level of experience in transparently proving our solvency to our exchange clients. Also, our Bitcoin only decision, experience running an exchange since 2013, and our track record rolling out products like physically delivered futures over the years, gives us the experience needed to provide our Auto Buy service."

As part of Coinfloor's call to provide more accessible Bitcoin services, Coinfloor has also reduced minimum deposit for its professional trader customers from 1,000 British pounds to 250 pounds.

The London-based is "Preemptively compliant" with crypto regulationAs Coinfloor is a major crypto exchange based in the U.K., the platform is apparently subject to regulation by the Financial Conduct Authority that strengthened its anti-money-laundering control in January 2020.

According to Nwosu, FCA's increased AML procedures don't raise any concerns for the exchange as Coinfloor positions itself as "Preemptively compliant."

Coinfloor announced its intention to delist all cryptocurrencies but Bitcoin in December 2019, promising the public that the exchange will become a Bitcoin-only exchange in January 2020.