Signing up for an exchange to purchase bitcoin can be difficult and time-consuming. This could prevent new users from purchasing bitcoin. According to a press release, Coinfloor attempted to solve this problem by creating an app.
It can be very frustrating when you have to provide your personal documents and photos to prove your identity in exchanges. It can be frustrating to have to switch between devices and check your phone or email for confirmation codes. The Coinfloor app allows you to submit all documents and photos from your smartphone.
The app guides users easily through the process, making sure that everything runs smoothly. This new feature lets you access your camera to take photos of documents or selfies that you want to submit. It makes the entire process simple and straightforward.
After users complete this simple sign-up, they can easily link their payment method and be able then to buy bitcoin using the exchange’s one time buy option or regular dollar cost average option. It’s great that the onramp process is easy because it puts bitcoin in more people’s hands and pushes us toward hyperbitcoinization.
Obi Nwosu is the founder and managing director at Coinfloor U.K. He stated that while many people would like to invest in Bitcoin, they are limited by the tedious and stressful process of signing on to an exchange. This has been a problem for Bitcoin since it gives people the false impression of investing being complicated and confusing. This has led to a slowdown in widespread adoption.
This last barrier was removed by the Coinfloor App. The entire process is now faster and simpler than ever. We also have functions such as dashboards and social sharing in one click. This allows any user to become an evangelist for Bitcoin. They can share the benefits with their friends and family, and show them how easy it is to get started.
This will make it a game-changer when it comes time to add new bitcoin users.