Magnr Reviews 

64
TrustScore 1.5 out of 5

1.3

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Rated 1 out of 5 stars

I did 3 withdrawals of 3 separate amounts, however I noticed that 10 hours later they grouped these withdrawals together into 1, leading to a big problem for me, I now lost 25 btc because of this. Als... See more

Company replied

Rated 3 out of 5 stars

Nice design, but interest rate must be indicated as profit from investment, when sign up - there must be E mail, Login and Password ( in case you lost your password ) and In FAQ - How MagnR works will... See more

Rated 1 out of 5 stars

I sent a deposit to trade but it has not arrived even after 5 confirmations. Will i get back my bitcoin . It seems they have halted trading ?

Rated 1 out of 5 stars

The savings account is nice, but all exchanges offering trades on margin should be viewed with suspicion. I've been trading on Magnr for almost a year and I've come to the realization that their comm... See more

Company replied

Company details

  1. Business Services

Information provided by various external sources

Magnr.com is the world's most trusted bitcoin bank. Magnr Savings allows clients to generate a passive interest return on deposited bitcoins. Magnr Trading offers leveraged trading on the current bitcoin price.


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1.3

Bad

TrustScore 1.5 out of 5

64 reviews

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1.3

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(64)

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Rated 4 out of 5 stars

A decent site

Honestly, i never heard of Magnr.com before, but it looks like a pretty decent bitcoin trading platform and you can easily invest with bitcoin on this website which is pretty unique and nice addition to the bitcoin family

I would recommend to use this site for their security and friendly design that easy to navigate through
But always remember, don't spend more than you can afford to lose

January 4, 2016
Unprompted review
Rated 4 out of 5 stars

Holds promise

The board members seem to be very experienced this is a plus.

The service looks promising, after all anything that pays off more than 0.3% Yearly given by your bank is a big plus!

But remember, be always cautious and take your own conclusions before investing, and only invest what you can afford to lose!

And by the way, the website looks great!

January 4, 2016
Unprompted review
Rated 4 out of 5 stars

This site shows great promise!!

I have explored this site and from what I can see everything seems to be quite well done as far as the website itself. A service such as this could very well become quite popular in my opinion if it can establish itself a good reputation in the trading community. I myself cannot comment on the trustworthyness of this site but as a trader and someone that looks for ways to earn interest on his BTC I am quite interested in using this site myself.

I do see a couple of potential drawbacks as it seems it supports only leveraged margin trading which may be confusing to new traders and BTC users. The minimum trade is a bit high at 0.02 BTC which also may put people off from experimenting with the site though the trade fees are actually quite acceptable especially for margin trading.

To withdrawal from this site it says it can take up to 24 hours and that the savings account should not be used as a wallet for your regular transactions. It says this is because they operate off of cold storage only and all withdrawals are manually processed as opposed to most exchanges withdrawals are automated off of a hot wallet.
I do believe that this method could lead to increased security as there intentions but could be a drawback to some who want access to there BTC more immediately.

Overall I think this site is great and I wish it success. If it proves itself I will likely use it myself depending on how in depth there identity verification process is. I will be looking into this site further in my own interest.

January 4, 2016
Unprompted review
Rated 4 out of 5 stars

Trustworthy

Bitcoin has a questionable reputation regarding security and its no wonder trust is a high priority for the vast majority of those involved in crypto. While there are no guarantees, its certainly a plus this site is up and running since 2013 and is featured in several media. This site is recommended for those who want to earn slow and steady, without taking significant risks (other than the risk of Bitcoin nosediving to 0 value, which isn't very likely).

January 4, 2016
Unprompted review
Rated 5 out of 5 stars

An excellent Bitcoin site.

I love the simple interface, and the fact I can earn interest on Bitcoin deposits - a one of a kind service nowadays. There is also an extensive knowledge base available, any user from newbie to expert should be able to navigate here with little problem. Trading FAQ's are explained in clear English, and there are even walk-through's to help one get a better grasp on trading positions. Overall one of the nicest trading sites I have seen in some time, and I look forward to using it more.

January 4, 2016
Unprompted review
Rated 5 out of 5 stars

As my friend made a small fortune.

To be quite honest I heard from a friend about Magnr, he has been with bit coin since the beginning, he invited me to his private forum for me to learn his ways of trading with them, in late 2015 When bit coin prices had risen on a high, his gut instinct was to cash our on a high, this he did with major profit.

As for me I never did learn to trade, even with a demo account on another website, I have a small confession about my financial status its very low in funds so I have missed the boat a few times because of this, even my friend asked me was I financially secure " I said yes, to avoid any embarrassments.

As For Magnr as an experience for trade, I do not have any to tell you the truth.

As my friend made a small fortune of two thousand USD profit, I suppose I would say it's highly recommended to all that join this trading website.

January 4, 2016
Unprompted review
Rated 4 out of 5 stars

Website/Service Review By Patatas

Starting from your Homepage : You already have those side ">" icons to do the image sliding,why you need those dots below the sign up button ? Does the same anyway !Honestly the light green color of the button just doesn't go with the overall theme .Also that learn more button could have been highlighted with an hover effect ,like color change ,would make it look like a link and also the Login button.The login form however could be made a little better because the length of the input box is too big,could be shortened .There are couple of more places I feel are out of context which needs a fix,but thats just me.

Coming to your Start-up idea,honestly nothing out of the World.All the bitcoin start-ups at the end of the day are doing the same thing in a different way,which is not bad as long as you provide excellent service.A quote from your website "Magnr Savings allows you to earn interest on your bitcoin deposits." HOW ? I think mentioning that is must since it will surely raise doubts for a bitcoin enthusiast like me.Also it will be better if you declare your fees or charges involved because we all know ,no one provides good service for free.So instead of subjecting the users to payment details later,it could be useful to keep the payment details transparent from start as part of good business management .I could go all day but this is all for today .Thanks and Best of luck with the service! :)

January 4, 2016
Unprompted review
Rated 5 out of 5 stars

Service that i waiting for.

it is giving me money for just deposit.also it gives me the option to acces to direct market and place my orders instant and safe.there is also cold storage.shortly mangr is full featured,safe bank for me !

January 4, 2016
Unprompted review
Rated 4 out of 5 stars

Simple and efficient. Requires some work

I used the site for some time now. I was sceptical like a few other customers but I have now used both Trading and Savings accounts and both have fantastic support. I had some trouble with a trade and their support sorted me out extremely quickly. At least they have a real person answering your support issues.
The Savings Accounts - wish they had brought this out much earlier. At first I was scared as well but they have paid out interest for the last 2 months and have allowed me to withdraw the entire amount afterwards. No ponzi scheme there. I have put all my spare Bitcoin with them now. Looking forward to what ever product they bring out now. Hopefully higher interest rate.

November 23, 2015
Unprompted review
Rated 5 out of 5 stars

Reliable and Trusted Service!

Savings product is simple and easy to understand. These guys have been around for a while with BTC.sx, and seem to be a good professional service. When I had to contact their customer support one time at the beginning, they were pretty responsive and helpful.
From experience, am quite confident in trusting them with my funds. Would be good if they offered a higher interest rate for a lock-in term, for example, 12 months, since I don't use my bitcoin day to day anyway.
Apart from that, overall, no complaints.

September 3, 2015
Unprompted review
Rated 4 out of 5 stars

Needs higher rate

Great experience so far but it's tough to take the high risk of not having my bitcoins in cold storage for only 2% a year. Other than that only good things.

September 2, 2015
Unprompted review
Rated 2 out of 5 stars

NOT USEFUL AT ALL

1. MAGNR does not verify the identity of its customers. This is a privacy concern because if someone hacks the account of the user and the e-mail then our BTC won't come back.

2. Google Authenticator has a lot of problems. In first place it requires to have a Google account and in second place it require us to keep that Google account.

3. The interest rate is not attractive for a hight-rate risk investment. (High-Risk because the volatility of BTC and the security of your website)

MAGNER ANSWER:

"1. Regardless of whether your identity is verified or not, if someone hacks your account and your email then your bitcoins are most likely already stolen by your hacker.

2. We can look into providing another authentication method.

3. Regardless of whether or you save with Magnr, you are exposed to bitcoin's volatility by owning bitcoin. This is not a problem with our service. We use cold storage and BitGo's multi-sig technology - our site is incredibly secure. As alluded to in point 1, it is the user's responsibility to keep their login details confidential."

MY ANSWER:

1. Right. But if you know who is the owner of the account then you will acquire legal responsibility for his/her funds so if an account is hacked it is going to be your problem not the problem of the owner.

2. I suggest Authy.

3. Anyway the interest rate is not attractive. A common bank gives more interest for a high-risk investment.

September 2, 2015
Unprompted review
Magnr logo

Reply from Magnr

1. Regardless of whether your identity is verified or not, if someone hacks your account and your email then your bitcoins are most likely already stolen by your hacker.

2. We can look into providing another authentication method.

3. Regardless of whether or you save with Magnr, you are exposed to bitcoin's volatility by owning bitcoin. This is not a problem with our service. We use cold storage and BitGo's multi-sig technology - our site is incredibly secure. As alluded to in point 1, it is the user's responsibility to keep their login details confidential.

Rated 3 out of 5 stars

I want to trust them, but I'm still hesitant

Trusting your bitcoins to Magnr in exchange for a nice 2,18% profit a year, is a nice thing to do.... but I have a hard time believing they can keep this up or keep being solvent.
I want this to go on and therefor I trusted a small amount of BTC to them, but I first want to see them survive for a year.

September 2, 2015
Unprompted review
Rated 4 out of 5 stars

Solid basic savings service

Pretty solid basic savings account. Easy to setup and transfer money into. You only get paid interest and the end of the month, so you have to make sure you're willing to keep what you have in place.

Some reccomendations for improvement:
- More frequent interest payments. I have some similar accounts with other comapnies that pay daily or hourly interest.
- Some sort of API key so other services (Such as Mint) can see ongoing balance and transactions.

September 2, 2015
Unprompted review
Rated 5 out of 5 stars

Skeptical Turns to Spectacle

At first i decided to give it a shot and put in 12$ thinking this was a fraud but i did anyways because Magnr is a genius idea but it was if so it worked. So i did and i got my little returned and took out the money with 0 problems, now im putting in all my bitcoin in Magnr as i slowly invest in more and more bitcoin,making even more capital from using Magnr!

September 2, 2015
Unprompted review

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