Circle Review

Circle is a Bitcoin broker and Bitcoin wallet platform. This page reviews Circles Bitcoin brokerage services (go here to see a review of Circle’s Bitcoin wallet).

Founded in 2013, Circle is a digital money company. Its goal is to make the transfer of money easier and cheaper.

Payment Methods Accepted

Privacy

Circle requires identity verification and personal details.

• Payment Methods Accepted
• Privacy
• Limits & Liquidity
• Speed
• Reputation
• Fees
• Supported Countries
• Customer Support
• Past Issues
• Circle Wallet Review
  • Security
  • Privacy

Limits & Liquidity

Users are initially given a limit of $300 of combined buying/selling/sending per week. After some time, you may be able to have this limit increased to $3,000.

For example, if you buy $50 worth of bitcoin and then send $25 worth of bitcoin to a friend, you will have used $75 out of the $300 limit.

Speed

To have your bitcoin available instantly you must buy with a debit card. Buys made with credit card or bank account take 3-5 days for the bitcoin to become available.

Reputation

Circle is a VC backed company and fully regulated. It carries the proper licenses in all of the districts in which it operates.

Fees

Circle doesn’t charge a fee, but generally has a sell price around 0.5% more than global exchanges like Bitstamp. Among Bitcoin brokers, Circle often has the best rate.

Supported Countries

Circle is available to U.S. residents.

Customer Support

Circle offers customer support via email.

Past Issues

There have been reports that Circle randomly flags accounts as suspicious. If your account is flagged as suspicious, Circle may remove or limit your ability to buy and sell bitcoin. View more details in Circle’s user agreement.

Circle Wallet Review

Circle is a digital money company focused on making money “instant, secure, and free”. Its homepage only briefly mentions Bitcoin, and its wallet doesn’t do much more than receiving and spending.

Accounts may be accessed on Circle’s website and iPhone or Android app. Both apps allow the buying and selling of bitcoin and basic sending and receiving of payments.

Circle allows its customers to hold funds denominated in bitcoin or USD. Funds held as dollars are still be spent and received through the Bitcoin network.

Circle controls all private keys, and acts more like a bank than a true Bitcoin wallet. Circle should only be used to buy or sell bitcoin, and not to store funds.

Security

As a web/hot wallet, Circle should not be used to store large amounts of bitcoin. With full control over all accounts and private keys, your funds may be frozen at any time.

Although all bitcoin held is insured, a loss is only covered if something goes wrong on Circle’s end. Your bitcoin is gone if your account is hacked.

Two-factor authentication is required.

Privacy

Your name, phone number, email, and a number of other personal details are required. You must trust Circle’s servers to verify transaction data. Circle knows your addresses and balances at all times and can connect this with your identity. Because of buy/sell features, it must also follow all KYC laws.

Each payment request uses a new address, which helps prevent other users from connecting Bitcoin addresses together.