SpectroCoin was founded in February 2013 and has its headquarters in London. This UK based company offers digital currency solutions, services and is a merchant service provider for bitcoin users. It was the first company to provide European merchant solutions for businesses who wanted to receive payments in bitcoin.
Sections
SpectroCoin Credit Card Processing & Payment Services
SpectroCoin Payments
- Bitcoin
Other SpectroCoin Products and Services
- SpectroCoin Debit Card
- Bitcoin Wallet
- Exchange services
SpectroCoin Pricing & Fees
SpectroCoin doesn’t list its fee online, these need to be obtained directly from the company.
To see how they compare have a look at: UK Merchant Account and Credit Card Processing Fee Comparison.
SpectroCoin Features
- Accept bitcoin and receive funds in your currency
- Receive funds instantly
- No frozen reserves
- No chargebacks or refunds
- Ready to deploy installation via the e-commerce plugins such as Magento, Drupal, OpenCart, WooCommerce, WHMOS, VirtueMart and Zencart.
- Or installation via Bitcoin Payment Processing API
- Low processing payment fees
- Online and physical shops are supported
Company Background
SpetroCoin has been providing and all in one solution for bitcoin users since 2013. The company was founded by Vytautua Karalevicius, Justas Dobiliauskas and Mantas Mockevicius. Its holding company, Spectro Finance Ltd is based in Luthunania but it has its headquarters in London.
Apart from being a merchant services provider, the company offers its clients bitcoin solutions via prepaid debit cards, eWallet and its bitcoin exchange. In 2014, SpectroCoin became the first European company to offer businesses the opportunity of receiving bitcoin from customers, both online and in store. The following year, SpectroCoin issued bitcoin debit cards.
SpectroCoin Pros & Cons
The following pros and cons are based on information available from reviews on Trustpilot.
Pros:
- Quick and efficient service
- Site has user friendly layout
- Easy to install
- Funds received quickly
- Helpful team
Cons:
- Long delays in receiving funds
- Very poor customer services
- Telephones and emails go unanswered
- High fees
- No account verification
SpectroCoin Reviews
- Trustpilot: 4.5 out of 5 based on 1,134 reviews
SpectroCoin Merchant Machine score is 4.5 out of 5.
Website: www.spectrocoin.com
Jolanda says
Fraud and gross violation of the law by criminal Vytautas Karalevicius! It is possible to make a deposit but withdrawal is impossible. They currently hold 6.000,00 euros that belong to my company and they do not allow the payment of that money to my company’s account. They canceled the international bank withdrawal without notifying before, and now they are “advising” me to pay them 900,00 euros on their Bankera project, in order to withdraw the money to my company account. In short, they ask me for 900,00 euros to give me my 6.000,00 euros! In my country this is called a racket, and the sentence is not less than 3 years in prison for such an act. By doing so, they have violated the laws of their country, my country, but also the international laws on financial operations, and in addition, it is not in accordance with the license on the basis of which they operate.
In short, they remove the withdrawal to bank option without announcing that they would do that, leaving only withdrawal options that are illegal in most countries of the world to be used for commercial purposes (for companies) and companies that have money with them no longer have a way to transfer that money to their bank account. I suggest to all victims of spectrocoin to file a complaint at https://www.lb.lt to have their license revoked.