We hope you have gone through our must read Bitcoin trading tips and are now all ready to start buying and selling Bitcoins. However, as you plan to begin, it may prove to be a considerable amount of work to figure out which exchange will be worth your time and which one will let you down. Choosing a good exchange means winning half the battle in the world of crypto trading. Now, one such exchange out there is the Wall of Coins exchange. If you don’t know much about it, you may be wondering: is Wall of Coins legit? Well, it’s time to find out.
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What is Wall of Coins?
Wall of Coins is essentially a peer-to-peer platform where you can buy and sell Bitcoins. It is a platform that is absolutely easy to use.
It is particularly useful for beginners as they do not need to undergo too elaborate a registration process or too complicated an exchange process.
In fact, the registration process simply requires users to sign up with their name, contact number and email. The confirmation of their account happens over SMS and no further personal details are necessary for this process.
After having registered, a user can start buying or selling. There is no limit to how much Bitcoin can be bought and sold over the platform.
The buyers and sellers themselves can decide what mode of payment is to be used. What’s more, the entire exchange is free for the buyer and the seller as no transaction fee needs to be paid to Wall of Coins.
The most commonly used mode of payment on Wall of Coins is cash. While sellers do not have to follow any restriction as to what modes of payment they can use, the buyers must confirm the payment method on the order book. Most buyers tend to carry out a bank transfer to the seller’s account.
The security of the coins is also well taken care of by storing them in an offline storage system for safekeeping.
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Wall of Coins- Scam or Legit?
Considering the fact that a significant number of people have indeed managed to buy and sell Bitcoins over Wall of Coins, it is safe to assume that it is quite legitimate.
However, since it is a peer-to-peer platform, it is best to conduct due diligence well before going ahead and engaging in a transaction.
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