Today at Cryptoshitcompra.com we are going to talk to you about CoinBurp (BURP) token, a cryptocurrency that has recently appeared in several exchanges and today we will explain how to buy BURP token in Gate.io and we will also give you all the information about this Token.
CoinBurp is a broker criptomonedas that has made buying, selling and storing Bitcoin (BTC) and another 5 criptomonedas is very simple.
In this CoinBurp review, I cover everything you need to know about them, including how it works, supported cryptocurrencies, the fees it charges, and more.
Advantages disadvantages of CoinBurp (BURP) Token.
Advantage
- Based in the United Kingdom (London).
- 4.9 * Trustpilot rating (1000+ reviews).
- Verification does not take long (15 minutes).
- Deposits in GBP clear quickly (within 10 minutes).
- Simple and easy to use mobile application (iOS and Android).
- Support available via email, and Facebook Messenger.
- Competitive Bitcoin (BTC) prices, which appear to be around 1.5% above the real exchange rate. re are no commercial fees.
- Provides online wallet (which is secured by BitGo Custody).
- minimum deposit is just £ 5 (or € 5).
Disadvantages
- It only supports Bitcoin (BTC) and 5 other cryptocurrencies.
- GBP / EUR cannot be deposited with a debit or credit card.
- GBP withdrawal fees seem high (£ 5 flat fee).
What is CoinBurp?
CoinBurp is a UK-based company (based in London) that was founded in 2018 by Peter Wood , Bipin Bhanderi, and Tom Allison.
In short, CoinBurp’s mission is to simplify and make it easier for more people to buy, sell, and store Bitcoin (BTC) and other cryptocurrencies.
y have 16 staff members listed on their LinkedIn company page. A recent addition to the team is Iqbal Gandham , who has joined CoinBurp as a non-executive advisor. Previously, Iqbal was eToro’s UK Managing Director and Chief Marketing Officer (CMO) for Nutmeg.
y have a 4.9 * Trustpilot rating ( 1000+ reviews ) and are the highest ranked company in the ‘Cryptocurrency Service’ category , with 97% of reviews rating them as ‘Excellent’.
How does CoinBurp work?
CoinBurp is a cryptocurrency broker, which means that you will buy or sell directly with them.
You can access CoinBurp through a browser or through its mobile app (iOS and Android). mobile app is in beta, but I had no problems with it on an iPhone.
Like the alternatives, you will need to complete verification before you can start using CoinBurp. From start to finish, this only took 15 minutes, so you won’t have to wait for days (or weeks).
Read also Kraken Tutorial: How to use Kraken? Kraken fees
Once you’ve sorted out that junk, you’re ready to deposit GBP and buy Bitcoin (BTC) or another supported cryptocurrency.
y have made the process super simple.
Deposit GBP at CoinBurp Buy Bitcoin (BTC) with CoinBurp Can you deposit GBP from Revolut, Monzo and Starling? Can you open a trading account at CoinBurp?
Supported cryptocurrencies
CoinBurp currently supports six cryptocurrencies:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Stellar (XLM)
y are looking to support EOS (EOS), Tether (USDT), and numerous ERC-20 tokens in the future.
Payment methods
You can deposit British Pounds (GBP) and Euros (EUR) at CoinBurp.
You can only deposit GBP with a UK bank transfer (via Faster Payments, BACS or CHAPS). Most banks support faster payments (by default), but you can check here .
When I tried CoinBurp, I found that British pounds sent with a UK bank transfer via Faster Payments were credited in approximately 10 minutes.
You can also deposit EUR using a SEPA bank transfer if your country is part of the SEPA zone .
CoinBurp fees
To buy
You are not charged explicit fees for buying Bitcoin (BTC) on CoinBurp. However, there are hidden fees included in the exchange rate being quoted.
I found that Bitcoin (BTC) prices on CoinBurp were about 1.6% above the exchange rate quoted on popular cryptocurrency exchanges.
This seems competitive and in line with what other popular crypto brokers charge:
Cryptocurrency Broker Instant Fees CoinJar 1.2% Moon 1.5% Coinbase 1.5% Solid 1.5% – 2% Bittylicious 2 – 3% BC Bitcoin Up to 3%
However, the prices quoted to me for other cryptocurrencies available on CoinBurp were a bit inconsistent, up 3.9% for Ethereum (ETH).
Instant Fee Cryptocurrency Bitcoin (BTC) 1.6% Litecoin (LTC) 1.7% Bitcoin Cash (BCH) 1.9% Ripple (XRP) 2.2% Stellar (XLM) 3.7% Ethereum (ETH) 3.9%
When I asked CoinBurp, they told me that clients can generally expect the prices quoted for all cryptocurrencies to be between 1% and 1.5% above the real exchange rate. However, it may vary “depending on a number of market conditions.”
Deposits
You will not be charged a deposit fee if you send more than £ 100 with a UK bank transfer (via Faster Payments). You will pay a fee of £ 0.50 if you deposit less than this.
See this page for more details.
Retreats
You will be charged £ 5 if you withdraw GBP or € 5 if you withdraw EUR.
Read also Reef Finance (REEF) Token What is it, how to buy and price?
This is higher than the alternatives. However, it will only be a major problem if you intend to make small withdrawals.
Withdrawal Impact of withdrawal fee £ 100 5% withdrawal £ 1000 0.5% withdrawal £ 10000 0.05% withdrawal
Withdrawal fees for some cryptocurrencies also seem high .
For example, it currently costs £ 15 to withdraw Bitcoin (BTC) from CoinBurp. However, you will pay the same withdrawal fees in many other places, as this is what it currently costs to send a (fast) transaction on the BTC network.
Limits
Your deposit limits will depend on your verification level.
You will need to verify your identity (eg, driver’s license or passport) and address (eg, bank statement or utility bill) to verify level 1.
To unlock the Tier 2 limits, you will need to submit your passport and verify your source of funds with CoinBurp. Beyond this, you will have to complete an ‘enhanced due diligence’.
Verification Level Daily Deposit Limit Annual Deposit Limit Level 1 £ 10,000 £ 15,000 Level 2 £ 25,000 £ 120,000 Level 3 Custom Custom
This is annoying, but there is no way to escape as all cryptocurrency exchanges and brokers operating in the UK need to collect this information.
Alternatives
closest alternatives to CoinBurp are CoinJar , Luno, and Coinbase .
Each of them focuses on making it quick and easy to buy Bitcoin (BTC) and other cryptocurrencies without getting scammed . This is perfect if you are a beginner and have never bought, sold or stored Bitcoin (BTC) before.
CoinJar is the cheapest of these three, charging a flat fee of 1% and trading Bitcoin (BTC) prices that are slightly above the prices you would find on a cryptocurrency exchange.
bottom line
Everything about CoinBurp is beginner friendly.
This is what I liked:
- It does not take time to create an account and get verified (15 minutes).
- GBP sent with a UK bank transfer is credited quickly (in 10 minutes for me).
- Buying Bitcoin (BTC) and other cryptocurrencies is simple and intuitive.
CoinBurp’s fees also appear competitive. I was told that there is usually a margin of between 1 and 1.5% for any cryptocurrency they offer (although I found that it was a bit higher than this when buying Bitcoin).
And there is a lot of positive sentiment on Trustpilot about them. Many people mention how quickly and easily they have done everything, as well as their excellent customer service.
How to buy CoinBurp (BURP) Token on Gate.io?
STEP 1 TO BUY COINBURP (BURP) TOKEN:
first thing will be to register in Gate.io if you are not already, so here is the registration link: Register GATE.IO
Read also Hobbs Networking (HNW) Token What is it, how to buy and price?
Once we are registered and with everything verified, we have to buy USDT to exchange it for BURP Token and since it cannot be purchased with a card at Gate.io, at least in Spain, we will use Binance to buy it and transfer it to Gate.io, but they can use Coinbase or any exchange.
STEP 2 TO BUY COINBURP (BURP) TOKEN:
Once with our USDT we have to transfer them to Gate.io and for this we have to go to our Gate.io Wallet and click on “Deposit” to deposit the USDT.
Clicking on “Deposit” will take us to the next page, in which we have to select the currency we want to deposit (USDT) and choose the TRON network.
We copy the address and go to the Exchange where we have the USDT, in our case it is Binance and we give it to withdraw, we have to paste the address that we copied before and choose the amount to withdraw.
And that’s it after a while we will have our USDT in Gate.io.
STEP 3 TO BUY COINBURP (BURP) TOKEN:
Now we have to enter Gate.io and click on the market, and then click on “Professional”
Now we have to search for “BURP” in the search engine and select the “BURP / USDT” pair.
Once we give “BURP” we go to the bottom right and put the amount of BURP that we want to exchange for USDT.
We give you to buy and that’s it, we already have it in our Gate.io Wallet.
I hope you liked the tutorial.
more
