100% Multi-signature Cold Storage

Since our first day in operation, Coinfloor has championed 100% Multi-signature Cold Storage as the only truly secure method for storing bitcoin. When you deposit or purchase bitcoins at Coinfloor, those bitcoins are always held within underground vaults which maintain the same security standards as the Bank of England.





Provable Solvency

Coinfloor is an exchange and custodian of bitcoin and we believe that we must set the industry standard for transparency and regular audits. Far too frequently other exchanges which store client bitcoin on servers or “hot wallets” are hacked and some have been known to run a fractional reserve system. Without proper accountability, the industry will not be able to grow and mature. This is why we are committed to release a Provable Solvency report every month.





Brokers and OTC Traders

The UK has an active market of bitcoin brokers and OTC traders who are bridging the gap between the liquidity of an exchange and the end-user’s ease of access into the market. Coinfloor has been working closely with our most active UK bitcoin brokers and OTC traders to improve the Coinfloor experience for this valuable segment of the bitcoin ecosystem. We want to enable the broker community and help support and grow your ability to sell bitcoin to your customers. We are grateful for the trust and support in these efforts and are glad to be working with such a talented and devoted group of individuals.

Today we are publishing our 10th monthly Provable Solvency Report with step-by-step validation instructions for your convenience.



As of this afternoon, Coinfloor holds a total of 4352.1603 XBT on behalf of our clients. You are invited to verify that your held bitcoin are included in this balance by following the instructions below.





What does the Provable Solvency Report include?





We started out by creating an obfuscated report of all current client balances (the Solvency Report) and then generated a SHA-256 hash of this report.



We then created a bitcoin transaction to ourselves, that includes all currently held client bitcoin, for a value of 4,518.7610 XBT and included in the output script the OP_RETURN of the SHA-256 hash of the report, proving that at the time of making the solvency report, Coinfloor held all of our clients’ XBT funds. You can verify the amount and details of the transaction in the blockchain.

Key Pieces of information:



Provable Solvency Report #10 (January 21, 2015):

https://s3-eu-west-1.amazonaws.com/provablesolvency/solvency_20150121.txt



SHA-256 Hash of the Provable Solvency Report: dd1fe71068fc7cfe7b398ccaeb3487dc72fd3fceaccbd75fccf829b2f81db8ec



Transaction ID: a0a6b969fdc66f2491b57d6a734cd65b4faf5e7fa1dbdd1091efa5104b70473f



View the transaction here:

https://blockchain.info/tx/a0a6b969fdc66f2491b57d6a734cd65b4faf5e7fa1dbdd1091efa5104b70473f



Your API authentication cookie:

You will find it in the Dashboard of the Coinfloor signed in view, in the API section.

Instructions for Validating Solvency Report:

https://s3-eu-west-1.amazonaws.com/provablesolvency/solvency_20150121.txt

http://www.xorbin.com/tools/sha256-hash-calculator or to your SHA256sum calculating application.

https://blockchain.info/tx/a0a6b969fdc66f2491b57d6a734cd65b4faf5e7fa1dbdd1091efa5104b70473f

your local SHA1sum application

http://www.satoshi.24ex.com

We believe that this approach is the best way to achieve maximum accountability while retaining privacy for our clients. We welcome your feedback and hope that in time, other exchanges will also help safeguard client funds by providing proof of solvency reports to their users on regular basis.

Happy Trading!

The Coinfloor Team