Wall of Coins Review – Crypto Buying Made Easy

Wall of Coins Homepage

Introduction

Wall of Coins is a cryptocurrency exchange based in Sarasota, Florida. If you want to buy Bitcoin, Bitcoin Cash, Dash or PIVX with cash, they are a great choice. They are one of the easiest options for buying cryptocurrency with cash and, other than verifying your phone number, they require no identity verification! If you are new to cryptocurrency exchanges, you should be aware that there are three main categories of exchanges:

  • Trading platforms: Trading platforms allow buyers and sellers to conduct instant trades with one another on the exchange and collect a fee for doing so. These platforms are usually highly liquid and the prices are constantly changing. Trading platforms typically offer advanced order options (like limit and stop orders) as well as advanced charting.
  • Cryptocurrency marketplace: In a cryptocurrency marketplace, the sellers set their own prices (sometimes called “advertisements”) and trade directly with buyers. Typically, the exchange acts as an intermediary or escrow service that verifies deposits and ensures each party gets what they are due. These types of trades are not typically instant and can take hours to days to complete.
  • Brokers: Cryptocurrency brokers set their own prices and charge a fee for their service.

Wall of Coins is a cryptocurrency marketplace that connects buyers and sellers together in a very simple process. There are several different types of marketplace exchanges:

  • Trading platforms: Trading platforms allow buyers and sellers to conduct instant trades with one another on the exchange and collect a fee for doing so. These platforms are usually highly liquid and the prices are constantly changing. Trading platforms typically offer advanced order options (like limit and stop orders) as well as advanced charting.
  • Cryptocurrency marketplace: In a cryptocurrency marketplace, the sellers set their own prices (sometimes called “advertisements”) and trade directly with buyers. Typically, the exchange acts as an intermediary or escrow service that verifies deposits and ensures each party gets what they are due. These types of trades are not typically instant and can take hours to days to complete.
  • Brokers: Cryptocurrency brokers set their own prices and charge a fee for their service.

Wall of Coins is a fiat-only exchange. In this article we will be covering everything you need to know about this exchange.

At a glance

 
Exchange LocationSarasota, Florida
Account MinimumMinimum purchase is $5
Serving Customers InUnited States, United Kingdom, Argentina, Australia, Brazil, Canada, Germany, Latvia, Mexico, Poland, Philippines and Romania
Purchase OptionsCash to crypto
Trading Commission FeesAround 1-2%
Withdrawal FeesNone
KYC or ID Verification Need to Trade?No
Social Security Number Required?No
Volume & Liquidity

Low

Privacy

High

Overall Reputation & Trust

High

Withdrawal SpeedMedium
FDIC Insured?No
SecurityHigh. 100% Cold Storage
Trading Platform Features-Deposit cash for crypto
-Buy and sell coins for cash
-No advanced trading features available
Mobile AppNo
Customer SupportGood

What is Wall of Coins?

Wall of Coins is a peer to peer crypto marketplace. It is owned and operated by Genitrust INC. Wall of Coins boasts a hassle-free approach to buying and selling Bitcoin and several other popular coins.

The exchange takes its customer’s privacy serious, so much so that payments are cash only and require no ID verification.

Likes and dislikes

Likes



  • Low rates - Compared to other cash to crypto exchanges, they're rates are very low

  • Cash - Did we mention you can buy with cash?!

  • Privacy - For most purchases, identity verification is not required.

Dislikes



  • Lower liquidity - Depending on the price you set, sell orders can take some time to fill

  • Hidden fees – Their fees are not public and are baked into the coin's price, so you don't know what they're charging

  • Lack of choices – There are a limited amount of buy and sell offers at times

Commission and fees

Low fees are one of their best features. The fees are very low compared to other cash only exchanges. One down side to the exchange is that it does not disclose its fees publicly and based on your trade you may charged different fee amounts.

In general you will have a fee on trades of about 1-2%. These fees are baked into the price of the coin at the time of buying, so there’s not possible to ascertain how much it is. Typically, cash deposits and withdrawals at your bank do not incur fees, so you save money there as well.

Wall of Coins is best for:

Rookies (Beginner)

Enthusiasts (Intermediate)

Power Users (Advanced)

In general, Wall of Coins is best for the person who just wants to easily buy and sell Bitcoin. There is no advanced trading tactics, this is just a simple buy and sell marketplace with other people in the community. This makes it quick and easy for anyone who just wants to own some Bitcoin or wants to get some cash from the Bitcoin they already own!

As a buyer, you will probably pay a higher price than found on most trading exchanges, due to it being a cash exchange. And as a seller, you will most likely get slightly over market price for your coins, but they will take longer to sell.

Sign up and privacy

Wall of Coins sign up screen
Sign up is incredibly easy. One of the easiest I’ve seen. From the homepage, and fill out your phone number, email address and password. If making a purchase at the same time, they will ask for your location (just a zip code) to help locate the best place to deposit your cash. Typically it’s a major bank or Western Union.

To complete the verification process, they will text you a confirmation code to verify your phone number. That’s it! You’re done.

Only a valid phone number is needed. There is no identity verification required.

The fact that you don’t have to give any personal info other than your email address and phone number is great from a privacy standpoint. You can protect yourself while still getting all the Bitcoin you want!

Deposits and withdrawals

Both deposits and withdrawals are very fast when using Wall of Coins. Usually, your Bitcoin will be sent to the wallet address you provided within 30 minutes of depositing the cash at the bank.

Withdrawing funds happens at about the same speed. It is a great way to quickly buy and sell!

Buying and selling

This is where Wall of Coins shines. They’ve put a lot of effort into simplifying this process, making it easy for all experience levels. We love their interface and minimalist layout.

The buying process

This couldn’t be easier. The hardest part of this whole process is driving to the bank to make the deposit. There are two ways to buy coins. First, you enter the wallet address you want the coins sent to. Then you choose a buy option.
Wall of Coins Buy Bitcoin Screenshot
The first way is by choosing a buy option selected by Wall of Coins. They call it the “most convenient options”. Rather than seeing all offers in the marketplace, this greatly simplifies the process.
Wall of Coins all buy offers screenshot
The second way is to browse through all offers on the Wall of Coins marketplace. This is what we recommend doing. It’s not a complicated process and it ensures you get the best price possible.

You can many choices for deposit locations. So if you prefer to deposit at a certain bank, this is a good option for you.

Wall of Coin purchase code verification screenshot
After choosing the amount you want to buy, you’ll be sent a “purchase code” which you simply have to verify.

Wall of Coins purchase instructions screenshot
You will then be given a detailed set of instructions on where to deposit the cash. It’s important to note that you cannot deposit cash into an ATM. It needs to be deposited with a bank teller.

Once the deposit is made, you send a message and a photo of the receipt to Wall of Coins. And you receive your cryptocurrency shortly after.

Some users have stated that on very large purchases they were required to verify their identity, but it is unsure at what dollar amount that procedure happens.

The selling process

Selling your crypto coins is even easier than buying them.
Selling your Bitcoin on Wall of Coin screenshot
All you have to do is verify your contact details, enter the bank account information where you want the deposit made and set the number of coins and price you want to sell. That’s it!

Trading platform

There are not a lot of cool features to be described when it comes to their trading platform. They are simple, and that is the point. They don’t have margin or market trading. You just say how much you need and everything is setup for you. If you are looking to day trade or flip Bitcoin for profits, this site probably isn’t for you. This site was made for people to buy Bitcoin hassle-free as quickly and easily as possible.

Ease of use

This might be the most easy and simple way to obtain Bitcoin. It caters to all experience levels. Even new users we’ve spoken to had no problems using the platform. It’s extremely straightforward.

Cryptocurrencies supported

Currently, they support 4 major coins:

  • Bitcoin
  • Bitcoin Cash
  • Dash
  • PIVX

Security

Wall of Coins calls itself the most trusted cryptocurrency marketplace on Earth. In terms of privacy and security of your coins, they may be right.
Wall of Coins uses 100% cold storage
One great thing about Wall of Coins is that 100% of their cryptocurrency is held in offline cold storage. That is a great feature not offered by many exchanges. Most exchanges hold a percentage of coins in “hot wallets” to provide liquidity for trading purposes.

Wall of Coins has figured out how to do this without a hot wallet, making it nearly impossible for a hacker to gain access to any of their crypto funds, even if the website is compromised.

There have been no notable issues with Wall of Coins and its security. In general, people are every confident in Wall of Coins security features.

Customer service

Wall of Coins customer service screenshot
Unlike a lot of cryptocurrency exchange websites, customer service is a true asset to this company. You can call, email, or live chat with someone 24 hours of the day. This means you can get answers right away, rather than having to wait through an email ticket support system.

Mobile app

There is no mobile app for this exchange. However, we tested the site on a mobile device and it ran just fine. You should have no problem doing anything you wanted to do from your phone.

Common questions

  • Is Wall of Coins safe? Yes! Wall of coins is safe and secure with all the funds in cold storage. It is also extremely private, which is a great perk for anyone concerned about staying anonymous.
  • Can I use a bank account or credit card? All Wall of Coins transactions are done using cash deposits. No bank transfers. No checks.
  • Is Wall of Coins decentralized? Not really. While Wall of Coins is a peer to peer marketplace, the exchange is governed by a single party.
  • Can I use Wall of Coins as a wallet? No. Wall of Coins only holds your coins while you are trying to sell them. All purchased coins are sent directly to your private wallet address. A hardware wallet is the best option for keeping your coins secure.
  • Is Wall of Coins open to new registrations? Yes! Wall of Coins is always allowing anyone to set up a buy or sell within its website.

Countries supported

  • United States
  • United Kingdom
  • Argentina
  • Australia
  • Brazil
  • Canada
  • Germany
  • Latvia
  • Mexico
  • Poland
  • Philippines
  • Romania

Conclusion

If you are looking for a quick, easy, and private way to buy or sell Bitcoin, Wall of Coins is a great option for you. With its peer to peer trading, secure and private website, and low fees, Wall of Coins is great for any person who doesn’t need most advanced trading options.

We really like Wall of Coins and the experience we had using their service. And we highly recommend them.

Wall of Coins Review
  • Volume & Liquidity
  • KYC & Privacy
  • Ease of Use
  • Commission & Fees
  • Customer Service
4.7

Summary

Wall of Coins is a marketplace for cryptocurrency buyers and sellers that offers fiat to crypto services. They do not require identity verification, have high security standards and offer one of the easiest ways to buy coins with cash.