From Help Center you can find instructions on how to use Coinmotion, answers to the Frequently Asked Questions (FAQ), and information on commercial collaboration. Scrolling down the page, you’ll also find information on those cryptocurrencies with which you may trade in Coinmotion platform. If you can’t find an answer to your question from here, please contact our customer service.

Opening an account

How do I open an account?

To open an account in Coinmotion you need to register to the service. You can start the registration by clicking “Register” on the landing page or by clicking here.

Select the account type and fill in the personal information. You can only have one account per person or company.

  • Use your official name, we’ll compare it with the information received on authentication process
  • Use your personal email that stays under your control, even if you’d change jobs etc.
  • Remember to add postal address as it reads on your utility bills
  • Verify your phone number by SMS

Confirm your registration and log into the service

After filling out the personal information, you will be sent an email with a confirmation code. Enter your email, password, and the confirmation code to the next page and sign in.

Personal account verification

You must verify your account to be able to use all the features of Coinmotion. Finnish customers can verify their accounts with banking credentials, but customers outside Finland must identify themselves through iSignthis -service.

If you’re a Finnish customer, please go through the Finnish guidelines on how to verify your account. If you’re from outside Finland, continue reading.

After you’ve registered your account, you must fill in the KYC-form. After this you may enter to the verification process of iSignthis, where you must upload the following documents:

  1. Copy of your passport / ID
  2. Copy of a utility bill, phone bill or a bank statement which demonstrates your name and address

Make sure the photos uploaded are clear and whole, so that the information is easily read and there’s no cut corners. Please note that some accounts will go through manual checks, which is why the verification process might take a while.

Business account verification

To verify a business account, you must upload the following documents in “My account” – “Verify” in order to process your company account registration:

  • an extract from the company register (containing the names of legal representatives of the company) that should be max. 3 months old
  • company’s articles of association, requirement only for companies registered outside of Finland
  • a copy of a valid non-expired ID card of the person opening the company account
    • accepted ID cards are passport and national identity card
  • a decision of the company’s Board of Directors authorizing the opening of the account unless the company’s field of operation (as shown either in company register extract or articles of association) is cryptocurrency industry or unless the company in question is a one-person company
    • The decision must include the personal details of the person opening the account and must be signed by a legal representative of the company

If you don’t have access to the fore mentioned documents, please contact customer service for further assistance.

Verify phone number via SMS

Go to account settings and type your phone number to the corresponding field. Click “Verify via SMS” to receive a verification code by SMS. Add the code to the field, click submit and you’re done.

Linking a bank account

In the next step you will connect your bank account to the service. You can also do this later on in your accounts settings. A bank account must be linked to your Coinmotion account for you to be able to withdraw euros into your bank account. Connecting your bank account will be confirmed by email. Note that the Coinmotion account must be by the name of the same person or company as the linked bank account is.

Deposits, payments and withdrawals with euros

How do I deposit euros to my Coinmotion account?

You must first deposit money into Coinmotion to purchase cryptocurrencies. Go to Transfers – Receive – Euros and choose a payment method. The alternatives are:

  • Bank transfer (delay 0-5 business days)
  • Debit or credit card (immediate)
  • SOFORT Banking (immediate)
  • S-Bank online payment (immediate, only available for Finnish customers)

Select a payment method, type the amount you want to deposit and click Next. We’ll go through an example case of using Bank transfer as the payment method.

If you choose Bank transfer, the next page will show the necessary payment information for a bank transfer, namely the account number and customer specific reference number. You will then need to make a bank transfer with the given information. Using the right reference number is important for the deposit to find its way to your Coinmotion account. The money will appear in the balance of your Coinmotion account after the payment has arrived to us.

If you choose SOFORT Banking or card payment, you will automatically switch to the payment service. The money will appear immediately in your Coinmotion account after a successful deposit.

To send money from Coinmotion account to your bank account, proceed to Transfers – Send – Euros. Transfer to a Finnish bank account takes up to one business day when the outgoing transfer is made by 4 pm. The outgoing SEPA transfers elsewhere take up to 5 business days.

 

Accepted payment methods

We want our platform to be accessible to as many people as possible, for which we offer a diverse selection of payment methods. These are:

SEPA Bank Transfers: the Single Euro Payments Area includes all 28 EU countries as well as Iceland, Liechtenstein, Norway and Switzerland. The transfer takes 0-2 banking days, and the funds will be credited to your Coinmotion account immediately once they arrive.

Credit- and debit cards: an easy, straightforward and secure option to buy bitcoins and other cryptocurrencies. The funds will be in your account immediately after a successful deposit.

SOFORT Banking: an instant online payment method available in Germany, Austria, The Netherlands, Switzerland, Italy, Spain, Belgium and Poland. Works with most consumer banks from these countries. All you need are your banking details, and the funds are immediately credited to your Coinmotion account once the payment has been confirmed. SOFORT payments are handled as Pre-Approved Deposits and thus, you may purchase bitcoins immediately but cannot withdraw the bitcoins before the payment arrives at our bank account (this usually takes one business day. Check Pre-approved deposits below). SOFORT Banking deposits have an inherent 2% transaction fee.

Instant payments with S-pankki: an instant online payment method only available in Finland. With this payment method, you can pay directly from your bank account and the funds are immediately in your use.

What is a pre-approved deposit?

If the customer requests so, we can pre-approve deposits before they reach our bank account. A pre-approved deposit allows the customer to buy cryptocurrencies instantly. The pre-approbation requires that we can ensure the legitimacy of the customer and that he/she provides adequate evidence of the sent payment (i.e., receipt).

The pre-approved deposit does, however, set a limitation for cryptocurrency withdrawals from the Coinmotion account. This limitation is removed immediately when the deposit reaches our bank account. The pre-approbation of the deposits can be requested by sending a copy of the receipt to [email protected] We charge 5 EUR service fee for processing pre-approved deposits, excluding the pre-approved deposits inherent to SOFORT Banking.

How can I withdraw euros to my bank account?

You can only withdraw euros to your bank account.

If your funds in Coinmotion are cryptocurrencies, you must first convert them to euros from Trading – Sell. After this you may withdraw your euros to your bank account from Transfers – Send – Withdraw to bank. Please notice that you must have your bank account linked to Coinmotion if you wish to make withdrawals. You can link your bank account from Account settings – Manage account. 

How long does a withdrawal usually take?

Why can't I see my deposit?

If you’ve deposited money to Coinmotion and you cannot see the funds in your account even though the money has left your bank account, send us a receipt of the transaction to [email protected] and be in contact with the customer service.

The receipt must include the name and bank account of the sender, the amount sent, and the reference number or -message of the payment.

How to pay invoices in Coinmotion?

Paying invoices in Coinmotion is very similar to that process of most commercial banks. The required fields are recipient name, due date and reference number or -message. You can pay invoices to all banks and businesses in the SEPA area.

To pay invoices in Coinmotion, navigate yourself to “Transfers” -> “Pay invoices”. You can only pay invoices with euros. Please make sure that you have enough euro balance in your account when making the invoice, as the payment will be processed immediately in the next session of payment processing. The money will then be paid to the receiver so that the funds will be in the receiver’s account on the due date you’ve set to the invoice.

Buying, selling and storing cryptocurrencies

How do I buy and sell cryptocurrencies?

Once you have deposited euros to your Coinmotion account, you can start buying cryptocurrencies. Proceed to Trading and select the currency and the type of order you want to use. Below the different types of transactions you’ll see a chart with price information of the various cryptos, which you may use to support your trading decisions. The “Orders” page shows you all the transactions you’ve made.

Buying with market order

Market order is an immediate purchase or sell order at the current market price. The current market price can be seen below the order form.

You may navigate to the Trading page by clicking “Trading” on the header, or you can click the “Buy” button on any crypto you’d like to buy on My Wallets page.

 

 

In the Trading page you can choose the currency, the type of transaction and the amount that you’d like to buy. You can also select the “Max” button which automatically sets all the euros you have as the amount of the transaction.

Please note that the price of the currency may vary very quickly. If you click the max amount button and receive a message that your account has no coverage, press the Max button again. This will update the price information and the purchase takes place at the current price.

Buying with market order is a transaction that will be processed at the current market price.

Selling with market order

Market order is an immediate purchase or sell order at the current market price. The current market price can be seen below the order form.

You may navigate to the Trading page by clicking “Trading” on the header, or you can click the “Sell” button on any crypto you’d like to sell on My Wallets page.

 

In the Trading page you can choose the currency, the type of transaction and the amount that you’d like to sell. You can also select the “Max” button which automatically sets all the saldo you have as the amount of the transaction.

Please note that the price of the currency may vary very quickly. If you click the Max amount button and receive a message that your account has no coverage, press the Max button again. This will update the price information and the purchase takes place at the current price.

Selling with the market order is a transaction that will be processed at the current market price.

 

Limit order

A limit order lets you set a price by which you wish to buy or sell bitcoin. You can maximize profits on your bitcoin investments by activating the automatic buying and selling processes.

The buy order is executed once the price of bitcoin equals or undercuts the price you have set. The sell order is executed once the price of bitcoin equals or exceeds the price you have set.

You may also set a date until which the limit order is active. The funds that you’ve allocated to the limit order stay frozen in your account up until the point the limit order is processed or cancelled.

Stop order

Some investors want to use Stop orders to protect themselves against the decrease in value or on the other hand to ride an uptrend in the price when the price goes over a certain limit. A stop order can be set for the total balance or a limited amount.

A stop-sell order ​is a sales order that is placed in case of a sudden price drop. If the price plummets under the set limit price the sales order is activated and the bitcoins are sold to prevent a higher loss. For example if the investor has purchased bitcoins at a 500€/btc price and he doesn’t want to risk more than 200€ price drop, the stop order would be placed at a 300€/btc limit price.

A stop-buy order ​is a buy order placed in case the price suddenly starts to rise. With this order, the investor can join a starting price rally. If the investor believes that the price will start rising quickly after breaking 500€/btc, the investor can place a stop-buy order to 510€/btc so the coins are purchased automatically when the set price has been reached.

Please note that once the price surpasses the predefined price limit, the stop order becomes a market order. Thus the final execution price might significantly vary from the established stop­ order price. Stop orders affect the daily sales limit and thus a stop order will not be executed if the daily limit has been reached. The default limit is 30 bitcoins per day.

 

How do I transfer cryptocurrencies?

Congratulations, you have now bought cryptocurrencies! On the Transfers page you can send and receive cryptocurrencies within and outside Coinmotion.

On the Receive page you’ll see your own public coin addresses and you can create more. All the currencies sent to these addresses will arrive to your Coinmotion account. Please note that you can send cryptocurrencies only to the corresponding addresses meaning that you cannot send litecoin into a bitcoin wallet. Sending wrong currency to a wrong wallet will usually lead to the loss of sent funds. Always double-check that the receiving wallet for a bitcoin transaction is a bitcoin wallet, not e.g. a litecoin wallet.

On the Send page you can send the cryptocurrencies to another Coinmotion user by their email address, or out of the service using the recipient’s coin wallet address. The crypto transfers of new customers are checked manually for security reasons, which might cause an extra delay.

At the bottom of the page you’ll find a list of all the crypto transfers you’ve made. You can view the transfers’ status in the blockchain by entering the the wallet address or transaction id to, for example, this blockchain explorer.

Does Coinmotion have maximum buy and sell limits?

Coinmotion has the following daily sell limits:

  • BTC >30
  • LTC >300
  • ETH >300
  • XRP >75,000
  • XLM >150,000

We execute customer transactions in real time, and we allow you to send bitcoins or withdraw euros instantly. That’s why we can only let you transact the amounts that we can always guarantee immediately.

The trading limit can be temporarily lifted. If you wish to do so, please contact our customer service.

Why is my transfer under broker review?

We process all bigger crypto transfers made by our new customers manually for security reasons. This might cause a delay to your first crypto transfers. The new customer -status will be deleted later on your customership, after which all your crypto transfers will be automated and instant.

FAQ

Is Coinmotion safe to use?

Using Coinmotion is extremely safe. We take every measure to ensure our customers a secure storage place for their funds. For this reason most of our customer funds are in a safe multisignature offline storage. This means that no single person can alone transfer the funds, as it always requires a digital signature by several parties.

Prasos, a cryptocurrency broker running the Coinmotion service, is the first company in Europe to get the payment institution license and registration as a virtual currency service provider. The Finnish Financial Supervisory Authority has granted this license and registration to the company after various auditions and security controls.

Why should I use Coinmotion?

Coinmotion is more than an exchange service, since it also provides a safe storage place for your cryptocurrencies in addition to other useful features. In Coinmotion you can:

  • Store funds in a top-secure Vault protected by a time lock
  • Send cryptocurrencies to other Coinmotion users instantly without fees
  • Send cryptocurrencies outside the service
  • Exchange cryptocurrencies for euros and vice versa instantly
  • Make limit and stop orders at certain prices
  • Transfer euros to and from your bank account
  • Make an ongoing saving plan

Coinmotion is a service provided by Prasos Ltd, complying with current Finnish law. Prasos has over 7 years of experience in safely managing customer funds both for Finnish and international customers.

Open an account for free with no commitments!

Does Coinmotion have a mobile application?

Coinmotion has its own PWA application, which makes using the platform easier with mobile devices. You can start using the application by first logging in to Coinmotion. With Android phones, the site suggests you to download the application immediately. With Safari-browser you must first delete your browsing history, after which the browser suggests installation of the application. Read more about our PWA application from here.

How can I make money with the referral code?

You can earn big time by referring Coinmotion to your friends. We have the most rewarding referral program of all the cryptocurrency operators in Europe.

With our new referral system every time that someone registers to our service with your referral link and buys or sells cryptocurrencies on our service, you  receive 50% of charged trading fees during the first 12 months. Please note that the charged trading fee needs to be at least 1% for you to receive the referral reward. We will pay the reward to your Coinmotion account in euros. Additionally, the referred person will receive a reduced trading fee of 1% for the first 30 days after registration with your referral link.

To get your personal referral link, please access Referrals section in your Coinmotion account and start earning!

2FA doesn't work, how can I restore it?

If the 2FA code doesn’t work, it might be because of incorrect time on your device. Check the time and timezone of your device, as the time must be perfectly synchronized with the application. Google Authenticator’s Android app has a feature for time-correction behind the three dots -menu.

If you’ve lost or changed your mobile device and don’t have the recovery code, downloading a new Google Authenticator won’t solve the problem. However, your 2FA can be manually disabled by our customer service. Please be in contact if this is the case and you’ll be given instructions on how to proceed.

How do I confirm my IP address and get rid of IP email confirmations?

You will receive an email confirmation when you log in to Coinmotion from a new IP address. Logging in can be done through the confirmation link in the email. Alternatively you can copy the confirmation code to the login page.

You can disable IP confirmations by firstly enabling two-factor authentication on your account settings. After this you can choose to disable the IP confirmations from your account’s settings.

How much does Coinmotion cost?

Coinmotion takes a percentual fee of each buying- and selling transaction. As the volumes of a customer grow, the basic 2% commission fee decreases according to the effective volume discount chart. You can find this chart from your account menu on “Volume Discounts”. On the left side of the chart you’ll see the discounted fee, and on the right side the 90 day volume necessary for obtaining that fee. For example, to obtain a 1,8% trading fee, your trading volume in the past 90 days must be more than 500€.

Creating and holding an account doesn’t cost anything. Storing your funds is also free-of-charge, except for the Vault -service. The Vault costs 1 euro per month, and it is charged from the cryptofunds in the Vault.

Crypto transfers are free-of-charge, both inside the platform and outside from it. However, crypto transfers outside from Coinmotion do include the mining fee, which is set according to the market situation.

Withdrawing money to your bank account costs 0,90€ per withdrawal.

Paying invoices cost 0,90€ per invoice.

If you have any doubts on our prices, contact our customer service for further assistance.

What is a 2-Step authentication (2FA) and how can I activate it?

2-Step Authentication (2FA) protects your account by requiring a second verification. This makes it very difficult for abusive attempts, because when two-step authentication is enabled, account and password information for the account is not enough to log in and operate the account. Two-phase authentication applications, such as Google Authenticator, create constantly revolving, instantaneous validation codes that are requested at login.

The sign-in process proceeds as following when 2FA is enabled:

1) Enter your username and password.

2) If the information is correct, the service will ask for a 2-step authentication code on your mobile device.

3) Enter the code provided by the program and log in.

 

To enable 2-step authentication, follow these steps:

1) Download the official application called Google Authenticator to your phone.

2) Go to “Account Settings” in your Coinmotion account, and click Enable for Two-step authentication. You will receive a confirmation link to your email.

3) Click the email you received to access the page that now displays a QR code.

4) Open the Google Authenticator application on your phone and press the + sign. Select “read barcode” and scan the QR code displayed on the page.

5) The Google Authenticator application should now display a variable six-digit verification code that you type in the Verification Code box on the Coinmotion page. You have now successfully enabled 2-step authentication. Remember to write down the verification ID above the QR code which you’ll need in case you lose your device with the Google Authenticator.

How can I change my email address?
How do I close my Coinmotion account?

If you’d like to close your Coinmotion account, you may notice our customer service through Coinmotion messages. Our team will then remove your account manually according to Prasos Oy’s Privacy Policy.

Before closing the account, you must transfer all the euros and cryptocurrencies away from your Coinmotion account. You may do both transfers in the section “Transfers” -> “Send”.

It’s recommendable to download your account’s transaction history from the foot of the page “My Wallets” -> “Download Excel”.

If you have decided not to use Coinmotion only temporarily, we suggest you to leave your account as it is in case you find our services useful in the future.

Why can’t I log in?

If the platform says you have the wrong password or email when logging in, change your password by selecting “I forgot my password” on the log-in page, or click here. You’ll get instructions to your email on how to change your password. Please notice that the code you’ll receive in the email is not your new password, but the confirmation code needed for changing the password.

If you cannot log in for some other reason (the page doesn’t load, the session is closed, etc) delete your browser’s history. If this doesn’t help, try logging in with some other browser.

Savings

How can I store and save my cryptofunds in a secure way?

Safety is the most important aspect in crypto trading and storage of crypto funds. The majority of our customer funds are being stored in a safe multisignature offline storage. This means that no single person can alone transfer the funds, as it always requires a digital signature by several parties. Our company has an extensive 7-year-experience of safe storage of bitcoins.

In Coinmotion you can save cryptos with our Montlhy savings service, or store your funds with our extra-secure Vault service.

Interest account

You can store your cryptocurrencies in Coinmotion’s interest account and generate daily interests on your crypto funds. The accumulated interests will be paid to your account once you withdraw your funds from the interest account. The service supports the following cryptocurrencies: bitcoin, litecoin, ethereum, ripple. Hox! Stellar Lumens is not compatible with the interest account. 

You can see the balance of your interest account separately on the interest account page. Thus, you cannot see the balance of the interest account from My Wallets page, where all the other balances are shown. To use the interest account, you must accept the terms of service. 

Please notice the delays and fees of the service when using it:

  • Deposit to the interest account 1-2 days.
  • Withdrawal from the interest account max 30 days. Withdrawal fee is fixed and varies between different cryptocurrencies. The fee is visible in terms of service and upon withdrawal.

You can read more about the interest account from here. 

Vault service

 

Vault is a safe way to store your cryptocurrencies. You can store the desired amount of currency in the vault and set the time lock period from 12 hours to 30 days. To withdraw currencies back from the vault, you will wait a predetermined time before the withdrawal is executed. Each withdrawal request will be confirmed by e-mail and if desired, you will also receive a text message confirmation. This will give you time to react if someone else has gained access to your account.

You can’t skip the time lock, so use the vault only to store assets that you won’t need immediately. Currencies raised from the vault are reserved until the time lock period has passed.

The monthly fee of the Vault is one euro. The first month’s payment is deducted from the amount transferred to the Vault.

 

Monthly savings

The monthly savings feature helps our customers to distribute their investments over time. To activate the monthly savings, navigate to the “Savings” section in your Coinmotion account.

Set your monthly investment amount

Fill in the amount that you want to save every month, and select the day of the month that you want your plan to execute on.

Choose your selection of cryptocurrencies

Choose the distribution of cryptos that you want to save into. For example, you could distribute your monthly saving evenly among the available cryptos. You can also change your crypto distribution at any time for upcoming saving events free of charge.

Set up a reminder about the deposit

Finally, you can choose whether you want email reminders about making deposits or not. You also need to accept the terms of the service. See the next section for more information about deposits.

And that’s it! Just save your plan and it’s good to go — Coinmotion will now automatically execute your plan every month as long as your Euro balance is sufficient.

Making necessary deposits

Like stated above, your Euro balance on Coinmotion needs to be sufficient for monthly savings to work automatically.

You can make manual deposits via the Transfers page using SEPA payments, credit and debit cards, Sofort and some other options depending on where you live.

However, the most convenient way is to set up recurring monthly payments directly from your bank, if your bank has that feature.

The necessary payment details are shown at the end of the Monthly Savings page. It’s recommended to set up the recurring payment a few days before your planned saving date so that the deposit has enough time to arrive.

A credit card subscription feature will be added here later for even more convenient monthly savings.

After setting up the recurring payment, you’re all done. Just lay back and allow Coinmotion to automatically save in cryptos for you!

If you can’t set up recurring deposits, there’s nothing to worry about. In that case we recommend selecting the email reminders when creating the monthly saving plan. Also, it doesn’t break anything, if you miss a month or two. The plan will automatically continue next month when there’s sufficient balance available.

How do I transfer and withdraw cryptos from the vault?

If you’d like to store you cryptos in the Vault, move the amount you’d like to store into the vault from “Savings” -> “Vault” -> “Move to Vault”. Select the amount and set a time lock period, during which no one can withdraw the funds from your Vault. You can choose this time period to be from 12 hours to 30 days, it’s all up to you.

When you’d like to withdraw your funds from the Vault, select “Move from Vault”. You’ll receive a confirmation message either by email or SMS, depending on your account settings. Your funds will be released to your account after the time lock period you’ve set to the funds. Don’t cancel the Vault withdrawal even though the funds aren’t visible in your account immediately, as this is the whole idea of the Vault service. For this, its also good to plan the usage of this service ahead, as withdrawal of the funds takes its own time and the process cannot be fastened up by the customer service.

Private banking services

What Private banking services does Coinmotion offer?

The private banking service is oriented for individuals or companies that require a personalized service to buy, sell and store cryptocurrencies.

For these customers we can offer trading for a wide variety of cryptocurrencies, different trading pairs in addition to multiple storage solutions. Minimum investment requirement is 10 000 EUR or an equivalent amount in cryptocurrencies.

To receive more information, please contact us on: [email protected]

Commercial Collaboration

WordPress plugin - prices of cryptocurrencies to your website

Coinmotion has a WordPress plugin that offers valuable price information on cryptocurrencies to your website’s users. The plugin has a referral link embedded to it, which rewards the installer of the plugin generously; every time a person registered to Coinmotion through that link makes a transaction, you will get 50% of all the transaction fees during the first 12 months of the registration! Moreover, the users that have registered through your link will enjoy a discounted trade commission during the first 30 days from creating a Coinmotion account.

Advantages of using Coinmotion’s Bitcoin and crypto plugin – it’s free of charge

  • An extra stream of income thanks to its built-in compensating of the installer. Normally Google Adsense isn’t enough.
  • Increase of the medium time spent on your page, helps with SEO.
  • It doesn’t increase the load speed on your site, better for your SEO.
  • Personalized style created according to the design of your site.
  • It’s free, you don’t have to pay a single euro or bitcoin for it.

Follow this link for instructions on how to install the WordPress plugin to your website!

Agent

Do you have a portfolio of customers that are interested in cryptocurrencies?

We are always open to discuss different kind of collaboration possibilities so please do not hesitate to send us an email to [email protected] so that we can study your particular case and come up with a partnership suggestion. We have several partners making tens of thousands of euros in commissions annually by referring our service. Please contact us, if you have a blog, investing related website or any other channel where you reach an audience, which could be interested in using our services.

Merchant services

Our merchant services enable you to accept bitcoins and other cryptocurrencies as a payment method in your online store. You may invoice with cyrptocurrencies or receive cryptos in the selling moment with the Point of Sale -application.

Enable cryptocurrency payments on your eCommerce safely, cost-efficiently and with minimal volatility risk. Coinmotion offers merchant services in cooperation with cryptocurrency payment processor Coinpayments. Start accepting bitcoin and over 1500 other cryptocurrencies today!

 

 

 

 

 

 

Harness the power of cryptocurrency payments!

  1. Create a business account to Coinmotion
  2. Sign up on Coinpayments
  3. Add payment plugin on your eCommerce
  4. Link Coinpayments account to Coinmotion
  5. Contact support to get the reduced fee

Why should I start accepting cryptocurrencies?

  • Cheap for Merchant and customer
  • Attracts new customers
  • Fast cash flow – Near instant international payments
  • Low-risk – No chargebacks

Why Coinmotion and Coinpayments?

Easy to set up

  • Fast and easy initialization
  • Everything can be set up in less than 24 hours
  • No need for separate cryptocurrency wallets
  • No need for special technical knowledge
  • No need for extensive cryptocurrency knowledge

Cost efficient

  • 0,5% fee for receiving cryptos
  • 0,5% fee for converting cryptos to euros
  • Competitive exchange rates
  • No starting costs
  • No fixed costs

Rich in features

  • Cryptocurrencies can be converted to euros automatically when they are received.
  • Euros can be transferred on merchant’s bank account automatically
  • Over 1500 cryptocurrencies available
  • Additional features for investing and trading
  • Secure offline storage for cryptocurrencies
  • Limit and stop orders
  • Price graphs
  • Cryptocurrency portfolio view
  • Downloadable transaction history for accounting

For more information on our merchant services, please contact us on [email protected].

 

How do I link my Coinpayment and Coinmotion accounts?

You can link your Coinpayments account to Coinmotion in two ways, either by..

a) linking your Coinpayments and Coinmotion accounts for automatic cryptocurrency transfers and conversions to euros. This option will minimize volatility risks.

b) linking the accounts to automatically receive cryptocurrencies on your Coinmotion account. This option lets you control what to do with your cryptocurrencies and when.

 

A) Automatic transfer and trade

1. Sign in to Coinpayments

2. Choose “Coin Settings” from the main menu

1._Coin_settings.png

3. Choose “Fiat settlements”

2._Coin_acceptance_settings.png

4. Choose “Europe”

3._Settlements.png

5. Choose “Coinmotion”

4._Settlements.png

 

 

6. Open a new browser tab and log into Coinmotion. Navigate to “API” from user menu.

6._CM_API2.png

7. Give the API key a name and the following permissions:

  • Get balances
  • Sell
  • Get new deposit address
  • Withdraw EU

Lastly input 2FA code from your authenticator software (requisite).

8. Confirm the API creation via email.

Do not leave the next page before you have written down the API key and secret.

9. Page shows you the API key and secret. Input both into Coinpayments API credentials page.

5._API.png

B) Automatic transfer

1. Log into Coinpayments

2. Choose “Coin Settings”

1._Coin_settings.png

3. Fill details for accepted currencies

Coin_settings_full.png

 

  • Tick “Enabled” for accepted currencies
  • Fill “Your Payment Address” for each cryptocurrency. Addresses are found on Wallets page on Coinmotion and are long strings of characters. Note that addresses for XRP and XLM consist of two parts.
  • Choose “Payment Mode” for each coin
  • Add “Discount” to modify the price multiplier for each coin
  • Add “Maximum Value” to for maximum transfer limit
  • When ready, click “Update Coin Preferences” on the bottom of the page
How much do the merchant services cost?

The business customers using our merchant services get to enjoy big discounts on receiving cryptos and exchanging cryptos to euros. Withdrawing euros to your bank account costs under an euro per withdrawal.

Prices:

  • Receiving cryptocurrencies 0,5%
  • Exchanging cryptocurrencies to euros 0,5%
  • Withdrawing euros to your bank account 0,90€

Please be in contact with the customer service once you’ve successfully activated the merchant services, so that we can activate the merchant discounts to your account.

White label wallet and partnership solutions

For companies and institutions wanting to integrate cryptocurrency trading solution to their services.

In case you have a fintech platform and you want to add cryptocurrencies into your service selection or you are planning to set up a cryptocurrency broker service, and want to count with our 6 year long expertise in secure cryptocurrency trading and storage, we can offer a personalized solution for the backend infrastructure.

For more information please contact our commercial department by email: [email protected]

Information on cryptocurrencies

What are Bitcoin and cryptocurrencies?

Virtual currencies are a digital payment method and system. Cryptocurrencies in turn are virtual currencies based specifically on cryptography. There are currently over 2000 different cryptocurrencies, and new ones are generated constantly. The most known example is Bitcoin, but there are also other alternative cryptocurrencies called altcoins and tokens.

The altcoin term refers to all cryptocurrencies that are alternatives to Bitcoin and have their own blockchain. Tokens in turn are created on top of an existing blockchain or other decentralised ledger. The most popular among such platforms is Ethereum.

How are cryptocurrencies taxed?

Any profit gained from selling or trading cryptocurrencies is considered taxable income in Finland and many other countries. Profits can be counted based on the user’s cryptocurrency trading history. You can see your transaction history from the Wallet page in Coinmotion and it can also be downloaded as a separate file. This might come in handy when filing the necessary documents for tax authorities.

Every customer is responsible for their own tax declarations, as Coinmotion does not file taxes on behalf of their customers. You have to be aware of the laws in your country and take care of your tax duties accordingly.

Many countries still have unclear laws regarding cryptocurrency taxation, so we ask you to contact local authorities in case any questions arise.

What is Bitcoin?

Bitcoin is the world’s first decentralised cryptocurrency – a payment method and system operating over data networks – controlled only by its users. Bitcoin is based on an open code and decentralised technology called blockchain, whereby it cannot be censored or controlled by any state, central bank or other party. Using Bitcoin requires no permission from anyone and no external party can interfere in users’ bitcoin transactions. Bitcoin can be traded for almost any service or goods and is used in more countries than for example dollars or euros.

What is Litecoin?

Litecoin is one of the most established and used currencies among so called altcoins. Like its name suggests, Litecoin is “lighter” than Bitcoin and meant for smaller and faster transactions. Litecoin was created in 2011 and the underlying technology is very similar to that of Bitcoin. Litecoin is often used as a test platform for new changes implemented in Bitcoin.

What is Ethereum?

Ethereum is called a second generation cryptocurrency, which next to payments also has other features.

Ethereum is an entire ecosystem, which can be described by the words platform and framework. Ethereum provides an environment in which anyone can create their own cryptocurrency or build dApp (decentralized App) solutions for smart contracts. Ethereum is by far the most known project of this platform category. Nowadays it already has several competitors, such as NEO, EOS and Cardano. Despite grown competition Ethereum remains a superior option for organizing ICO (Initial coin offering) projects.

You can acquaint yourself further with Ethereum on Coinmotion blog.

What is XRP?

XRP is a virtual currency administered by the U.S.-based Ripple Labs. XRP intends to provide a more effective and cheaper version for traditional transactions and exchanges between banks.

The Ripple payment network is a network created for the use of payment providers, banks and other financial operators. Its ecosystem is meant to function as a platform whereby users can exchange anything with value for some other product with value.

You can read more about XRP here.

What is XLM?

Stellar Lumens (XLM) is a cryptocurrency which was founded by forking it from Ripple (XRP). It is widely seen as the greatest competitor of Ripple. Stellar Lumens resembles more Ripple than Bitcoin or other cryptocurrencies, which are based on mining. Stellar is run by a non-profit organisation Stellar Foundation. The currency has a yearly 1% inflation. As in Ripple, Stellar has very fast and low-cost transactions. It beats most popular cryptocurrencies in speed and cost with a wide margin.

You can read more about the cryptocurrency from our Stellar Lumens introduction article.

How do I start trading cryptocurrencies?

The first step in cryptocurrency investing is the same as with any other asset: study the asset carefully before making a decision. When you are familiar with the subject of your investment, you can avoid surprises, since you know what to expect from the price development and if the investment is handled and stored safely.

The safest way to start investing is Bitcoin, since it is the oldest and most reliable cryptocurrency instrument. Smaller altcoins also provide opportunities, and it is definitely worth studying them as well.

How do I store bitcoins and other cryptocurrencies safely?

When used correctly, Bitcoin is by far the safest way to store money ever invented by humanity. Safe storage in its simplicity means that the private key used for controlling funds does not disappear or end up in wrong hands. The safety of storing one’s private key depends on the wallet’s technical properties and the user’s actions.

You can read Coinmotion’s article on how to store bitcoins safely.