In today’s ever-evolving digital world, there are so many cryptocurrencies available. We expect more to be created in the future. Therefore, it is vital to keep your digital coins safe from thieves and hackers. A cryptocurrency wallet is a platform that stores private and public keys that enable you to store, send, and receive digital currency. If you want to use Ethereum, Litecoin, or any other cryptocurrency, you need to have a digital wallet. Wallets are platforms that ensure the security of your “digital cash.” The five types of wallets are paper, hardware, mobile, online and desktop wallets. Online wallets offer quick and easy access to your digital coins. Therefore, online wallets such as Cryptonator have become popular within the cryptocurrency customer base.
- CRYPTONATOR REVIEW
- WHAT CRYPTOCURRENCIES DOES CRYPTONATOR SUPPORT
- TRADITIONAL CRYPTOCURRENCIES SUPPORTED BY CRYPTONATOR
- LANGUAGES SUPPORTED
- HOW DO I OPEN MY CRYPTONATOR ACCOUNT
- SETUP CRYPTONATOR WEB WALLET
- MINIMUM DEPOSIT, WITHDRAWAL AND CRYPTONATOR EXCHANGE AMOUNTS
- CRYPTONATOR EXCHANGE FEES
- IS CRYPTONATOR SAFE?
- PROS AND CONS OF CRYPTONATOR
- CRYPTONATOR VS OTHER WALLETS
- REVIEW OF TRADERS
Cryptonator is an online cryptocurrency wallet based in Hong Kong, China. Andy and Brian Chen established Cryptonator. 2014 was the launch year of Cryptonator. The present Chief Executive Officer (CEO) of the company is Brian Chen. Cryptonator allows for the management of multiple digital cryptocurrencies in one single account. You can easily access your Cryptonator account from anywhere worldwide via your smartphone, desktop computer, or laptop. Platforms such as Windows, iOS, Chrome, Firefox, and Android support Cryptonator. It has excellent online backing with more than 1 million active accounts and 90 million processed transactions.
WHAT CRYPTOCURRENCIES DOES CRYPTONATOR SUPPORT
Cryptonator supports many of the popular cryptocurrencies in the market today. Examples of such cryptocurrencies include Bitcoin, Ethereum, and many others.
TRADITIONAL CRYPTOCURRENCIES SUPPORTED BY CRYPTONATOR
Cryptonator supports the following traditional cryptocurrencies: Bitcoin (BTC), Bitcoin Cash (BCH), Dash (DASH), Dogecoin (DOGE), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Monero (XMR), Ripple (XRP), Zcash (ZEC), BlackCoin (BLK), Bytecoin (BCN), PrimeCoin (XPM), Reddcoin (RDD), ByteCoin (BCN) and many others.
Cryptonator also supports the following fiat currencies: US Dollar (USD), Euro (EUR), Russian Ruble (RUR), Ukrainian Hryvnia (UAH)
The Cryptonator platform supports six languages, which are English, French, Spanish, German, Russian, and Indonesian.
HOW DO I OPEN MY CRYPTONATOR ACCOUNT
Navigate to the official Cryptonator site ( https://www.cryptonator.com/). Select the “sign up” button at the top of the page. You will be directed to the (“open new account”) page. Select between a personal and a merchant account. Fill in your email address and create a password for your account. Then, click the “create an account tab.” Ensure that the password you create consists of both uppercase & lower case letters and numbers as well. You will receive a verification link sent to your email address. Click on the verification link. Then, enter your login details.
SETUP CRYPTONATOR WEB WALLET
Select the setup guide. Select all the crypto coins since Cryptonator is a multi-cryptocurrency wallet. You can choose to highlight just the ones you intend to use. Create an address for every single currency you selected. Each wallet can have up to 10 addresses. Set the 2-step authenticator up. The three options in this step are Telegram Messenger, Text Message, and Google Authenticator. But you should use the Google Authenticator. Install the app on your smartphone. Then, scan the QR code displayed on the website with the app. A code is then sent to you. Then, type the code on the website and click send.
MINIMUM DEPOSIT, WITHDRAWAL AND CRYPTONATOR EXCHANGE AMOUNTS
The cryptocurrency has its minimum deposit amount. You can deposit at least 0.0001 Bitcoin(BTC). The minimum amount is 0.0001 BCH for Bitcoin Cash. For Dash, the minimum deposit value is 0.001 DASH. For Dogecoin, you can deposit a minimum of 10 DOGE. Also, the minimum deposit is 0.001 ETH for Ethereum, a minimum of 0.001 ETC for Ethereum Classic ETC, and a minimum of 0.001 LTC for Litecoin. Lastly, the minimum deposit amount is 0.001 XMR for Monero, a minimum of 1 XRP for Ripple, and a minimum of 0.0001 ZEC for Zcash. Cryptonator does not charge any fees on your deposits.
You can choose to withdraw payments in either cryptocurrency or fiat currency. The minimum withdrawal value is 0.00010000 BTC for Bitcoin. For Blackcoin, the minimum withdrawal is 0.10000000 BLK. For Dogecoin, the minimum withdrawal amount is 1.00000000 DOGE. You can withdraw at least 0.00100000 DASH.
Furthermore, the minimum withdrawal amount is 0.10000000 EMC for Emercoin, a minimum of 0.00100000 LTC for Litecoin, and a minimum of 0.01000000 XPY for Paycoin. Besides, there is a minimum withdrawal amount of 0.01000000 PPC for Peercoin and a minimum of 0.10000000 XPM for Primecoin. Lastly, there is a minimum withdrawal value of 1.00000000 RDD for Reddcoin and minimum of 0.01000000 VTC for Vertcoin. Cryptonator charges small fees for withdrawals. Cryptonator’s official website lists the exchange amounts for various cryptocurrencies.
CRYPTONATOR EXCHANGE FEES
The price of the order determines Cryptonator’s exchange fees. The exchange fees are not listed concisely, as other cryptocurrency companies do. However, the average trading fees fall in the range of 0.20% to 0.25%.
Cryptonator allows you to manage multiple cryptocurrencies with a single account. This wallet uses the best security measures to ensure your anonymity and privacy. All the transactions run wholly over secure SSL (HTTPS) connections. SHA-256 cryptographic algorithm hashes sensitive user data. Two-step authentication and One-Time-Passwords (OTP) also add extra security to your account. This wallet platform can be accessed 24/7 worldwide on the net, desktop, or smartphones. It can also serve as a calculator for altcoins allowing the users to find the relative price of any digital coin to fiat coins. Note that altcoins refer to cryptocurrencies created after the inception of bitcoin.
When you sign up on Cryptonator’s website, you can either create a personal account or a merchant account. Using a personal account, you can store multiple cryptocurrencies. A personal account operates via peer-to-peer transactions. You are allowed to send or request payments through emails. New account holders can exchange Bitcoin, Litecoin, Ripple, Ethereum, Monero, Zcash, Litecoin, DASH, and Peercoin. A Merchant Account is quite different from a personal account. It supports numerous cryptocurrencies (nine or more digital coins), just like a personal account. However, it allows for withdrawals in fiat money straight to bank accounts. The exchange occurs very fast. People who use a Merchant Account type can have a merchant ID (a unique identifier). The merchant ID will be directing all the requests to the Cryptonator payment Application Program Interface (API). Without the merchant ID, it is not possible to validate HTTP-notifications. Cryptonator allows you to make automated and quick cryptocurrency exchanges without the need to buy and sell orders.
IS CRYPTONATOR SAFE?
One common question that runs through most people’s minds is that “is Cryptonator safe.” Cryptonator protects its users with two-factor authentication. Google or telegram activates two-factor authentication. It is almost impossible to access an account without the account owner’s mobile device. Two-factor authentification makes it difficult for intruders to try to break into individual accounts. Users also have the option to use secure email notifications. It is worth it to note that 90% of all funds are stored offline. Therefore, Cryptonator employees don’t have access to your money. SSL encryption also makes it harder to hack the wallet website. Users also have total control over their private keys from the onset. Users play a big role in safekeeping their funds. Therefore, it is reasonable to say that the Cryptonator wallet is safe to some extent.
PROS AND CONS OF CRYPTONATOR
- Cryptonator offers users the necessary privacy and security they need. The registration process is not rigorous. You are only required to provide your email address. It allows for the option of making immediate automated exchanges without the need for buying and sell orders.
- It supports multiple cryptocurrencies.
- It is easily accessed. All you need is an internet connection.
- No leveraged provided: Cryptonator does not offer any leverage for trading. Yet, some other cryptocurrency exchanges offer margin trading.
- A lot of negative reviews: A lot of users have complained about Cryptonator in various crypto forums, sites, and social media. Some of the common problems users of this delayed or blocked deposits/withdrawals, blocked accounts for no reason and poor/non-responsive customer support.
- Cryptonator exchange fees are quite high.
- The Cryptonator wallet is not regulated and therefore poses significant risks to users.
- Cryptonator is not as secure as hardware wallets.
CRYPTONATOR VS OTHER WALLETS
Cryptonator wallet vs. eToro: eToro has better features compared to Cryptonator. Cryptonator is an unregulated wallet, while eToro is fully regulated. The fact that eToro is regulation-compliant makes it more secure than Cryptonator. Besides, eToro has better security measures put in place.
Cryptonator vs. Coinbase: Generally, Coinbase offers better features than Cryptonator. Coinbase is a regulated cryptocurrency wallet, whereas Cryptonator is not regulated. Coinbase guarantees a higher level of protection for crypto funds compared to Cryptonator. Coinbase provides a better trading platform because features like leveraged trading are available.
Cryptonator vs. Jaxx: Cryptonator existed before Jaxx. Jaxx is one of the best multi-currency wallets in the market at the moment. Jaxx offers high accessibility because it is available on both desktop and mobile compatibility.
The ease of maintaining your anonymity is a big thumb up in using Cryptonator. Cryptonator also permits the storage of multiple cryptocurrencies in a single account. However, it is not without a few setbacks. For example, it is not regulated compared to other cryptocurrency wallets. Overall, Cryptonator is a good choice. However, it depends on the individual to make a decision that will suit him/her in the long run.
REVIEW OF TRADERS
Many users claim that they have been using the Cryptonator wallet for years without losing their funds. Several people also like the fact that it supports multiple cryptocurrencies. Unfortunately, people also complained about poor/ non-responsive customer services and difficulty in withdrawing funds.