In a bold strategic move, London-based cryptocurrency exchange Coinfloor announced it would delist all cryptocurrencies except Bitcoin (BTC) starting January 3, 2020. This decision marks a significant shift toward a Bitcoin-only trading model, reinforcing the platform’s long-term vision of focusing exclusively on what its leadership considers the only truly proven digital asset.
The announcement, made in a blog post on December 17, revealed that Coinfloor—recognized as the UK’s oldest cryptocurrency exchange—would phase out trading pairs for all altcoins, including major assets like Ethereum (ETH) and Bitcoin Cash (BCH). The timing is symbolic: January 3 coincides with the 11th anniversary of Bitcoin’s network launch, underscoring the company’s deep-rooted commitment to the original cryptocurrency.
Bitcoin as the Only Proven Cryptocurrency
Obi Nwosu, CEO and co-founder of Coinfloor, emphasized that this decision aligns with the company’s core philosophy: to support only those technologies that have been rigorously tested and validated over time. In an interview with Cointelegraph, Nwosu stated that Bitcoin stands alone as the only cryptocurrency that has successfully fulfilled its foundational promise—providing a decentralized, secure, and reliable form of digital gold.
"Bitcoin is the only one in the blockchain world that has actually delivered on its promise of being a new form of value storage," Nwosu explained.
According to him, while other projects like Ethereum offer innovative concepts—particularly smart contracts and decentralized applications—their long-term viability remains unproven. He pointed to Ethereum’s ongoing transition to Ethereum 2.0, which was expected to launch around the same time as Coinfloor’s delisting, as evidence of unresolved technical challenges.
"If developers are still working on alternatives or major overhauls, it suggests they don’t believe the current version fully solves the problems it set out to address."
In contrast, Nwosu argued that Bitcoin already functions effectively as a global, censorship-resistant store of value. While improvements continue through initiatives like the Lightning Network and Taproot upgrades, these enhancements build upon a stable foundation rather than attempting to fix fundamental flaws.
"People are working to improve Bitcoin, but the consensus is clear: it already solves the core problem. Everything else is just icing on the cake."
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Strategic Focus on Long-Term Viability
By narrowing its offerings to Bitcoin alone, Coinfloor aims to streamline operations, reduce complexity, and enhance security. Managing fewer assets allows the exchange to allocate more resources toward compliance, user experience, and infrastructure resilience—critical factors for institutional adoption and regulatory acceptance in traditional financial markets.
Moreover, focusing solely on BTC enables Coinfloor to position itself as a trusted gateway for investors seeking exposure to digital assets without the volatility and uncertainty associated with speculative altcoins. This strategy resonates particularly well in regions like the UK, where regulators have expressed caution about lesser-known cryptocurrencies and their potential misuse in illicit activities.
While some users may view the removal of Ethereum and other tokens as limiting, Coinfloor maintains that this move reflects disciplined market judgment rather than reactionary fear. The exchange believes that true innovation doesn’t require endless experimentation—it requires focus, patience, and adherence to proven models.
What Happens to Existing Altcoin Holdings?
Although trading and deposits for altcoins such as ETH and BCH were discontinued after January 3, 2020, Coinfloor continues to support withdrawal services for these assets. However, users must now pay an additional management fee to retrieve their holdings—a measure designed to discourage long-term inactivity while covering administrative costs.
This policy ensures that users retain control over their funds while incentivizing them to either move their assets elsewhere or reconsider their investment strategies in light of Coinfloor’s clarified mission.
It’s worth noting that Coinfloor does not rule out the possibility of relisting certain cryptocurrencies in the future—but only if they meet stringent criteria for real-world utility, network stability, and developer credibility.
Could Ethereum Make a Comeback?
Nwosu left the door open for Ethereum’s potential return to the platform—but only once it demonstrates sustained success post-upgrade. If Ethereum 2.0 delivers on scalability, security, and decentralization without major setbacks, Coinfloor may reconsider offering ETH trading pairs in the future.
However, until such proof emerges, the exchange remains committed to its Bitcoin-centric model. As Nwosu put it, being first doesn’t matter as much as being right—and Coinfloor believes it’s making the right long-term bet.
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Frequently Asked Questions
Q: Why did Coinfloor decide to delist all cryptocurrencies except Bitcoin?
A: Coinfloor believes Bitcoin is the only cryptocurrency that has proven itself as a reliable store of value. By focusing exclusively on BTC, the exchange can offer a more secure, compliant, and efficient service tailored to serious investors.
Q: Can I still withdraw my Ethereum or Bitcoin Cash from Coinfloor?
A: Yes. While trading and deposits have been disabled, users can still withdraw their altcoin holdings. However, a management fee applies to cover processing and administrative costs.
Q: Will Coinfloor ever re-add Ethereum or other altcoins?
A: It’s possible—but only if those networks demonstrate long-term stability and real-world utility. For now, Coinfloor remains committed to Bitcoin-only trading.
Q: Is Coinfloor the first exchange to adopt a Bitcoin-only model?
A: Yes. According to its CEO, Coinfloor is the first major cryptocurrency exchange to fully commit to a single-asset model based on technological conviction rather than market trends.
Q: Does this mean altcoins have no future?
A: Not necessarily. While Coinfloor sees Bitcoin as uniquely successful today, it acknowledges that innovation continues across the blockchain space. However, adoption should follow proof—not speculation.
Q: How does this affect retail investors using Coinfloor?
A: Retail users gain a simpler, more secure platform focused on one high-conviction asset. Those interested in altcoins may need to use other exchanges better suited for experimental digital assets.
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A Vision for the Future of Crypto Exchanges
Coinfloor’s pivot reflects a growing sentiment among industry veterans: not all blockchains are created equal. While diversity in technology fosters innovation, investor protection and operational clarity demand selectivity.
Nwosu predicts that more exchanges will eventually follow suit, adopting stricter listing standards or even moving toward single-asset models as regulatory scrutiny intensifies and market maturity grows.
By betting on Bitcoin's longevity, Coinfloor isn’t rejecting innovation—it’s prioritizing sustainability. In doing so, it positions itself not just as a trading venue, but as a steward of sound digital asset principles in an often speculative ecosystem.
As the crypto landscape evolves, one thing becomes clearer: focus may be the most underrated competitive advantage in a world full of distractions.