How Koinal Provides Account Security?
Have you ever tried purchasing cryptocurrency from third parties? You must be wondering why you need them if you can do so directly.
The security of any digital asset lies in the double encryption of your sensitive data. Any transaction you make strictly belongs to you. Koinal takes extensive measures to protect the security and confidentiality of your data. To understand that, first, let us help you understand what we really do.
What is Koinal and How to Use it?
Koinal is a platform that helps you buy cryptocurrency in a faster, more convenient and more secure manner. Our head office is in London Bridge Street, London. We do not provide you with a wallet, because it is something that you must set up on your own. However, you gain the following benefits by using Koinal instead of buying directly:
- You can use your debit or credit cards to make your purchase. Both Visa and Mastercard are accepted. We also enable wired bank transfers for the same.
- You can purchase Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Ripple using your local currency.
- Normally, cryptocurrencies face price disruptions very quickly. The benefit with Koinal is that once you start the transaction, it will hold the price for 20 minutes once you move from the calculations page to the details page.
- You must verify the information shared with us before you start making purchases. The process can usually be completed in minutes.
- We have tied up with Binance and Okex. So, all Okex and Binance users get an added benefit if they make their purchase through Koinal.
If you wish to use Koinal, there are two ways of doing so – directly from our website or through Binance or Okex.
If you sign up with us directly, you need to provide with the following:
- Personal details such as name, phone number, e-mail address, etc.
- Your cryptocurrency wallet address.
- Valid ID proof and address proof for purchases over $2,500
When you move on to purchase after your verification, you need to provide your card details with which you’ll purchase the currency.
If you are an Okex or Binance user:
- You’ll get an option on their site to purchase cryptocurrency through Koinal.
- Once you’re there, you need to provide your details for KYC (Know Your Customer) to us if the purchase is for more than $2,500.
- After the transaction is processed, you’ll receive an update in our account as well as in your wallet.
3 Things You Need to Know About Our Security
- Secure payment gateway: A 256 Go Daddy SSL certificate protects our payment methods.
- You can activate a 2-factor verification: Before you activate your account, there’s an option to apply a 2-factor verification using Google Authenticator. This increases your account security on the Koinal website.
- In case your phone gets stolen: You can inform us via email and we can reset your 2-factor verification to enable it in your new phone for the Koinal website.