FAQ
Can’t find what you’re looking for? ASK US or call 0330 333 9256.

GENERAL

What is CoinPorter?

CoinPorter is a cryptocurrency procurement service. We offer our customers easy access to this exciting new marketplace by removing all the complication.

Why should I choose CoinPorter?

Acquiring cryptocurrency is quite an involved process. CoinPorter does all the hard work for you. Delivering your crypto to your door, safely stored on a hardware (cold) wallet.

Do I need CoinPorter?

No you don’t. Although complicated & time consuming, the process of purchasing cryptocurrency is achievable by anyone with a reasonable level of computer competence.

Below are the key steps, along with associated useful links…

1. Sign up with a reputable exchange, such as Coinbase (US), BitPanda (EUR), Binance (CN) or CEX.io (UK), and order your chosen crypto.

2. Purchase your hardware wallet – the Ledger Nano S is recommended by CoinPorter.

3. Set the hardware wallet up by following instructions found on the LedgerWallet website.

4. Transfer your crypto from the exchange to the Ledger Nano S.

5. Keep your private keys and hardware wallet safe!

Had a crack at it and got stuck? Get in touch…

Can we meet face to face?

Absolutely. We can arrange a meeting at our HQ in Southampton, or at any other location, within reason.

Which cryptocurrencies are available?

Our recommended hardware wallet, which all CoinPorter customers are supplied with, is the Ledger Nano S. All the cryptos supported by this wallet are listed on our homepage.

In addition, all ERC20 tokens can be managed using the Ledger Nano S in conjunction with MyEtherWallet.

Feel fee to contact us to discuss your requirements, or with any questions you may have.

When will I receive my crypto?

First time CoinPorter customers – once payment has been received, we endeavour to place your wallet in your hand within 72 hours. This is of course, dependent on the level complexity of the order.

Adding to your position? Once payment has been cleared, your additional crypto will be sent directly to your hardware wallet, and should take no more than 2 hours.

Expanding your portfolio? New crypto means adding the relevant wallet app to your Ledger Nano S. Details on how to do this can be found on the CoinPorter Care Card, or simply by calling us on 0330 333 9256. Once payment has been cleared, your brand new crypto will be sent directly to your hardware wallet, and should take no more than 2 hours.

How do I keep my hardware wallet safe?

Your wallet will arrive with a CoinPorter Care Card. This provides all the information you need to store it safely. A printable web version can be downloaded HERE.

TECHNICAL

What is a cryptocurrency?

Simply put, cryptocurrencies (cryptos) are electronic, peer-to-peer currencies, based on blockchain technology.

What is a blockchain?

You can think of blockchain as a digital medical record: every record is a block which has a label stating the date and time when the record was entered. The medical history is extremely important for diagnosis and treatment purposes, so neither the doctor nor the patient should be able to modify the records already made. Nevertheless, the doctor owns a private key that allows him to make new records, and the patient owns a public key that allows him to access the records anytime. This method makes the data both accessible and secure.

So, blockchain is by definition independent, transparent, and secure. The advantages of such a distributed ledger are obvious: cost and risk reduction, data security and transaction transparency. Most industries will benefit from this new technology, and the possibilities are so promising there can be no doubt that blockchain will become an integral part of our daily life in the very near future.

What is a hardware wallet?

A hardware wallet is a device that allows you to safely store cryptocurrency offline.

Why is it safer to store crypto offline?

As long as your crypto is held in an online (hot) wallet, it is open to the possibility of cyber attack. There have been numerous, high profile cases of crypto exchanges being hacked, & a great number of individuals losing considerable investments.

This risk is eliminated by storing crypto offline.

Do I have to buy a whole Bitcoin?

No. You do not have to purchase whole denominations of any cryptocurrency.

What is MyEtherWallet?

MEW is a client-side interface that interacts with the Ethereum blockchain. Although you can easily create new wallets in your web browser with MEW, it’s not actually an online wallet. Even though you create the wallet through the web, all of your information and your funds are stored on your computer, not on the MEW servers.

MEW combines the ease of setup provided by online wallets while eliminating many of the vulnerabilities that come with storing your funds online.

What are ERC20 Tokens?

ERC20 tokens are blockchain assets that can have value and can be sent and received, like Bitcoin, Litecoin, Ethereum, or any other cryptocurrency.

The difference between these tokens and a standalone currency like Litecoin is that ERC20 tokens piggyback on the Ethereum network, hosted by Ethereum addresses and sent using Ethereum transactions. As a result, they can be held on MyEtherWallet.

FINANCIAL

What is the fee structure?

A full breakdown of the fee structure can be found here.

How do I pay for my order?

CoinPorter supports credit/debit card payments (VISA, MasterCard & American Express) & transfers from UK bank accounts.

Are there purchase limits?

The minimum purchase amount is £1,000.

The daily limit for credit/debit card payments is £2,500.

The daily limit for bank transfers is £10,000.

Our fee structure is explained in full here.

Can I sell my crypto?

Yes, CoinPorter can arrange the resale of your crypto. Please contact us to discuss.

Do CoinPorter offer financial advice?

No, we don’t. Anyone interested in cryptocurrency should carry out their own independent research before making any investment decision.

LEGAL

What is KYC?

Know Your Customer (KYC) is the process of identifying & verifying the identity of clients, in order to adhere to AML (Anti-Money Laundering) regulations.

Which KYC documents will I need?

Proof of identity – Full UK or foreign passport, photo card driving licence OR photo card national identity card.

Proof of address – Bank statement, mortgage statement, council tax bill OR letter from utility company (mobile phone bills not accepted).

GENERAL

What is CoinPorter?

CoinPorter is a cryptocurrency procurement service. We offer our customers easy access to this exciting new marketplace by removing all the complication.

Why should I choose CoinPorter?

Acquiring cryptocurrency is quite an involved process. CoinPorter does all the hard work for you. Delivering your crypto to your door, safely stored on a hardware (cold) wallet.

Do I need CoinPorter?

No you don’t. Although complicated & time consuming, the process of purchasing cryptocurrency is achievable by anyone with a reasonable level of computer competence.

Below are the key steps, along with associated useful links…

1. Sign up with a reputable exchange, such as Coinbase (US), BitPanda (EUR), Binance (CN) or CEX.io (UK), and order your chosen crypto.

2. Purchase your hardware wallet – the Ledger Nano S is recommended by CoinPorter.

3. Set the hardware wallet up by following instructions found on the LedgerWallet website.

4. Transfer your crypto from the exchange to the Ledger Nano S.

5. Keep your private keys and hardware wallet safe!

Had a crack at it and got stuck? Get in touch…

Can we meet face to face?

Absolutely. We can arrange a meeting at our HQ in Southampton, or at any other location, within reason.

Which cryptocurrencies are available?

Our recommended hardware wallet, which all CoinPorter customers are supplied with, is the Ledger Nano S. All the cryptos supported by this wallet are listed on our homepage.

In addition, all ERC20 tokens can be managed using the Ledger Nano S in conjunction with MyEtherWallet.

Feel fee to contact us to discuss your requirements, or with any questions you may have.

When will I receive my crypto?

First time CoinPorter customers – once payment has been received, we endeavour to place your wallet in your hand within 72 hours. This is of course, dependent on the level complexity of the order.

Adding to your position? Once payment has been cleared, your additional crypto will be sent directly to your hardware wallet, and should take no more than 2 hours.

Expanding your portfolio? New crypto means adding the relevant wallet app to your Ledger Nano S. Details on how to do this can be found on the CoinPorter Care Card, or simply by calling us on 0330 333 9256. Once payment has been cleared, your brand new crypto will be sent directly to your hardware wallet, and should take no more than 2 hours.

How do I keep my hardware wallet safe?

Your wallet will arrive with a CoinPorter Care Card. This provides all the information you need to store it safely. A web version can be downloaded HERE.

TECHNICAL

What is a cryptocurrency?

Simply put, cryptocurrencies (cryptos) are electronic, peer-to-peer currencies, based on blockchain technology.

What is a blockchain?

You can think of blockchain as a digital medical record: every record is a block which has a label stating the date and time when the record was entered. The medical history is extremely important for diagnosis and treatment purposes, so neither the doctor nor the patient should be able to modify the records already made. Nevertheless, the doctor owns a private key that allows him to make new records, and the patient owns a public key that allows him to access the records anytime. This method makes the data both accessible and secure.

So, blockchain is by definition independent, transparent, and secure. The advantages of such a distributed ledger are obvious: cost and risk reduction, data security and transaction transparency. Most industries will benefit from this new technology, and the possibilities are so promising there can be no doubt that blockchain will become an integral part of our daily life in the very near future.

What is a hardware wallet?

A hardware wallet is a device that allows you to safely store cryptocurrency offline.

Why is it safer to store crypto offline?

As long as your crypto is held in an online (hot) wallet, it is open to the possibility of cyber attack. There have been numerous, high profile cases of crypto exchanges being hacked, & a great number of individuals losing considerable investments.

This risk is eliminated by storing crypto offline.

Do I have to buy a whole Bitcoin?

No. You do not have to purchase whole denominations of any cryptocurrency.

What is MyEtherWallet?

MEW is a client-side interface that interacts with the Ethereum blockchain. Although you can easily create new wallets in your web browser with MEW, it’s not actually an online wallet. Even though you create the wallet through the web, all of your information and your funds are stored on your computer, not on the MEW servers.

MEW combines the ease of setup provided by online wallets while eliminating many of the vulnerabilities that come with storing your funds online.

What are ERC20 Tokens?

ERC20 tokens are blockchain assets that can have value and can be sent and received, like Bitcoin, Litecoin, Ethereum, or any other cryptocurrency.

The difference between these tokens and a standalone currency like Litecoin is that ERC20 tokens piggyback on the Ethereum network, hosted by Ethereum addresses and sent using Ethereum transactions. As a result, they can be held on MyEtherWallet.

FINANCIAL

What is the fee structure?

A full breakdown of the fee structure can be found here.

How do I pay for my order?

CoinPorter supports credit/debit card payments (VISA, MasterCard & American Express) & transfers from UK bank accounts.

Are there purchase limits?

The minimum purchase amount is £1,000.

The daily limit for credit/debit card payments is £2,500.

The daily limit for bank transfers is £10,000.

Our fee structure is explained in full here.

Can I sell my crypto?

Yes, CoinPorter can arrange the resale of your crypto. Please contact us to discuss.

Do CoinPorter offer financial advice?

No, we don’t. Anyone interested in cryptocurrency should carry out their own independent research before making any investment decision.

LEGAL

What is KYC?

Know Your Customer (KYC) is the process of identifying & verifying the identity of clients, in order to adhere to AML (Anti-Money Laundering) regulations.

Which KYC documents will I need?

Proof of identity – Full UK or foreign passport, photo card driving licence OR photo card national identity card.

Proof of address – Bank statement, mortgage statement, council tax bill OR letter from utility company (mobile phone bills not accepted).

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