How CoinCorner holds and protects customer Bitcoin
CoinCorner says it keeps keys offline in cold storage with multi-signature wallets and holds customer assets 1:1 in full reserve; accounts can be protected with two-factor authentication, and the optional Vault shares keys with AnchorWatch under an insurance policy with limits and exclusions. Bitcoin held with CoinCorner is not covered by the FSCS or the Financial Ombudsman Service.
Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
How customer Bitcoin is held
CoinCorner describes its custody in one line on its home page: it holds keys offline in cold storage and uses multi-signature wallet infrastructure. Both halves of that line are the company's own statements, read on 6 October 2026. Neither is backed by a published report, and the table below shows where the evidence stops.
Cold storage
Cold storage means the private keys that control Bitcoin are kept on devices with no internet connection, which is meant to keep them out of reach of an attack on a website or an app. CoinCorner does not publish what share of customer Bitcoin is held this way, or how day-to-day withdrawals are funded.
Multi-signature wallets
A multi-signature wallet needs more than one key to approve a payment, so one lost or stolen key is not enough to move the Bitcoin. CoinCorner does not publish how many keys its wallets use, how many must sign or who holds them. The glossary has cold storage and 2FA defined in plain English.
| Proof block | What is stated | Issuer and source | Date read | Evidence published |
|---|---|---|---|---|
| Custody model | Keys are held offline in cold storage | CoinCorner, home page (own statement) | Not published The share of customer Bitcoin held offline | |
| Key management | Multi-signature wallet infrastructure | CoinCorner, home page (own statement) | Not published Number of keys, signing threshold and key holders | |
| Reserves | Customer assets are backed 1:1 and always held in full reserve | CoinCorner, buy page (own statement) | Not published A proof-of-reserves report | |
| Audits and certifications | Nothing is stated | No issuer named | No date | Not published Any audit, attestation, certification or penetration test |
| Insurance (Vault only) | Insurance underwritten by Lloyd's of London covers loss of keys and unauthorised access, subject to policy terms, limits and exclusions | CoinCorner, Vault page and Isle of Man terms (own statements) | Not published The policy limit, the named insurer or syndicate and the policy period | |
| Account protection | Two-factor authentication is available | CoinCorner, buy page (own statement) | You can turn it on in your own account | |
| Pounds and euros | E-money is held in segregated accounts and safeguarded; it is not covered by the FSCS | Mercury Foreign Exchange Limited, authorised by the FCA (FRN 900858), as stated in CoinCorner's footer | FCA Register: search for 900858 | |
| Registration | CoinCorner Ltd is a designated business (Lender; Virtual Asset Service Provider), on the register since 4 May 2016 | Isle of Man Financial Services Authority, designated business register | Isle of Man FSA register entry | |
| Incident history | Nothing is stated | No issuer named | No date | Not published A statement of past security incidents |
Last reviewed: . "Own statement" means the claim comes from CoinCorner's website and has not been checked by an independent party.
Full reserve: customer assets backed 1:1
On its buy page, CoinCorner states that customer assets are backed 1:1 and always held in full reserve. In plain terms, the company is saying that for every bitcoin shown in a customer balance, it holds one bitcoin.
That is CoinCorner's own statement. No proof-of-reserves report, audit or attestation is published on its website to support it, so you cannot check it independently today.
When a report is published, this section should name who produced it, the method used, how often it is repeated and where to read the latest one.
“Your assets are backed 1:1. CoinCorner customer assets are always held in full reserve.”
CoinCorner's own statement on its buy page, read on 6 October 2026. Not independently verified.
Protecting your account
Custody protects the Bitcoin that CoinCorner holds. Your sign-in details protect your own account, and that part is in your hands.
Two-factor authentication
Two-factor authentication (2FA) is available on CoinCorner accounts. It adds a second step to signing in, usually a one-time code, so a stolen password alone does not open the account.
Turn it on before you add money. The FAQ explains how to turn on two-factor authentication. Whether CoinCorner also sends withdrawal confirmations or new-device alerts is not stated on its site.
What we will never ask you for
- Your password
- Your two-factor authentication codes
- Remote access to your phone or computer
If a caller, an email or a message asks for any of these, it is not CoinCorner. Stop, and contact support through the official website.
The Vault: shared keys and insurance terms
The Vault is an optional service for long-term storage. It is multi-signature custody in which keys are held by CoinCorner and by AnchorWatch across multiple jurisdictions. You can withdraw at any time, and the fee is 1.50% a year, billed monthly.
The Vault comes with an insurance policy. Three of its terms matter more than the headline, and they are in the table. The custody page covers the multi-signature Vault and its insurance terms in full, and the fees page lists custody and account fees.
| Term | What CoinCorner's pages say | Source |
|---|---|---|
| What it covers | Loss of keys and unauthorised access. The insurance is described as underwritten by Lloyd's of London. | Vault page |
| When cover starts | When the Bitcoin reaches the wallet address that the policy covers, typically on the first day of the calendar month after the month of the transfer. Bitcoin is not covered before then. | Isle of Man terms |
| What limits it | Cover is subject to the policy's terms, limits and exclusions. The policy limit and the named insurer or syndicate are not published. | Isle of Man terms |
Last reviewed: . Terms read on coincorner.com on .
Pounds and euros: safeguarded e-money
Money you hold in pounds or euros is not held the way Bitcoin is. It is electronic money issued by Mercury Foreign Exchange Limited, which is authorised by the FCA under the Electronic Money Regulations 2011 (FRN 900858). CoinCorner Ltd acts as its distributor.
Funds are held in segregated accounts and safeguarded under those regulations. E-money is not covered by the Financial Services Compensation Scheme. The licences page explains what the registrations cover and what they leave out.
The e-money issuer at a glance
- Issuer
- Mercury Foreign Exchange Limited
- Company number
- 06445887 (England and Wales)
- FCA reference
- FRN 900858
- CoinCorner's role
- Distributor of the e-money
- Where to check
- FCA Register, search for 900858
Read in the footer of coincorner.com on 6 October 2026.
What is not protected
These are the protections you may be used to from a bank or an investment firm and do not have here.
- No Financial Services Compensation Scheme cover, for Bitcoin or for e-money balances.
- No Financial Ombudsman Service. A complaint goes through CoinCorner's own procedure.
- No conduct regulation of the Bitcoin services. CoinCorner's terms say they are not regulated by the FCA, the Isle of Man FSA or any other regulator. The Isle of Man registration is oversight of anti-money-laundering and counter-terrorist-financing compliance only.
- No protection from price falls. The price of Bitcoin can drop sharply and quickly, and you can lose all the money you put in.
- No reversals. Once a Bitcoin payment is confirmed on the network, nobody can undo it, so a payment to a wrong address or to a fraudster is not recoverable the way a card payment can be.
Read the full risk disclosure before you buy.
What the FCA tells UK crypto buyers
The FCA's consumer guidance says most crypto-related activities are not regulated in the UK. As a result, buyers generally cannot take a complaint to the Financial Ombudsman Service and have no FSCS protection if a firm fails.
Source: Financial Conduct Authority, crypto investment scams, last updated 16 February 2026, read on 11 October 2026.
The guide to the law covers what protection UK crypto buyers have in more depth.
Is CoinCorner safe? What the facts say
That is a judgement only you can make, and these are the facts to base it on. CoinCorner Ltd has provided Bitcoin services since 2014 and has been on the Isle of Man Financial Services Authority's register of designated businesses since 4 May 2016 (register entry). It says it holds keys offline in cold storage with multi-signature wallets and keeps customer assets in full reserve. Pounds and euros are safeguarded e-money issued by an FCA-authorised firm, Mercury Foreign Exchange Limited (FRN 900858).
The gaps are just as plain. No audit, attestation or proof-of-reserves report is published. The Isle of Man registration is for anti-money-laundering oversight only. No compensation scheme or ombudsman covers your Bitcoin.
Read about the legal entities behind CoinCorner, or see what buying Bitcoin on CoinCorner involves.
How to check the register yourself
Open the register entry
Go to the Isle of Man FSA register of designated businesses. It is on the regulator's own website, not on CoinCorner's.
Match the details
The entry should show CoinCorner Ltd, the Douglas address, the categories Lender and Virtual Asset Service Provider, and 4 May 2016.
Check the e-money firm
Search the FCA Register for 900858. The firm shown should be Mercury Foreign Exchange Limited.
Incident history
As of , CoinCorner's website carries no statement about past security incidents, one way or the other.
This space is kept for a dated statement from the company: either a list of incidents, with what happened and what changed afterwards, or a signed confirmation that there have been none.
Official domains and how to spot a fake
Fraudsters copy the names of real exchanges. Before you sign in or send money, check the address in your browser against this list, which comes from the footer of CoinCorner's own website.
CoinCorner support is reached through the help centre and the contact form on the website. No third party is authorised to provide support on its behalf.
If a message, an advert or a caller sends you to any other address, treat it as fake.
| Address | What it is |
|---|---|
| www.coincorner.com | Main website |
| support.coincorner.com | CoinCorner help centre |
| api.coincorner.com | CoinCorner API documentation |
| blog.coincorner.com | CoinCorner blog, hosted on Medium |
| x.com/CoinCorner | X |
| facebook.com/coincorner | |
| linkedin.com/company/coincorner | |
| youtube.com/channel/UC_Jkoc7F2bmrZJu6akhJPkw | YouTube |
Last reviewed: . Addresses read on coincorner.com on .
Report a security problem
CoinCorner does not publish a dedicated address for vulnerability reports or suspected fraud, and its website has no security.txt file. Until it does, report a problem to support through the contact page and say in your first line that it is a security report.
If you think someone else has been in your account, change your password, turn on two-factor authentication and tell support straight away. For background, the learn hub has guides to holding Bitcoin, and the CoinCorner home page lists every service this page refers to.
Read the risks before you buy
The risk disclosure sets out what can go wrong when you buy and hold Bitcoin, and which protections do not apply.