Users are able to create themselves a Vault from their account via the website.
Login to your account and go to Vault in the sidebar of your account. More information about the product can be found on that page, and you can use the form in the Vault Setup area to create your Vault.
Enter the bitcoin amount you are looking to store in your Vault in the BTC Deposit Amount box, this must be at least £100.00 worth of BTC.
After entering the amount being secured in your Vault the Estimated Fiat Amount of that BTC and the Estimated Monthly Fee you will be charged will automatically be populated. This fee will be taken automatically from your GBP account on the first working day of each new month, and if a GBP balance is not present BTC from your available BTC balance will be sold to cover the fee. If no GBP or BTC balance is present then BTC in your Vault will be sold to cover the fee.
When you are happy to proceed and create your Vault, click Create Vault.
A popup will appear that lets you review the creation of your Vault. You can use the tick box to request our team reach out to you and arrange custom enhanced security measures for withdrawals from your account, such as a phone call or another form of verification if an attempted withdrawal exceeds a value of your choosing.
Click Confirm to complete the creation of your Vault.
The Vault area will then change to instead show you a breakdown and all relevant information regarding your Vault. Below is what information is provided on this page:
Vault balance - the BTC amount and GBP value of funds currently secured in your Vault
Pending amount - the BTC amount and GBP value of funds due to be deposited into your Vault the first working day of the next month
Estimated monthly fee - the monthly fee you will be subject to shown in GBP
Fee payment date - the date of your next automated fee payment
Vault wallet address - the specific wallet address that your secured BTC are held in. You will be able to see the secured funds in that address if you search it on the blockchain.
Transactions - displays all changes to your Vault balances, including deposits in to your Vault and withdrawals from it.
To make a withdrawal of funds from your Vault you can click the Transfer Out button in the top right hand corner of the page.
Upon requesting a transfer out a popup will appear that lets you enter the BTC amount you want to withdraw from your Vault back to your available CoinCorner BTC balance. You can use the Max button to automatically request withdrawal of your entire Vault balance.
You will be displayed updated balances and shown the updated fee you will be subject to following the transfer out of your Vault. If you are happy to proceed click Transfer Out and both your outstanding Vault balance and your available BTC balance will be updated automatically.
Have any questions? Get in touch!