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Cryptonator Review - is it scam or safe?

Cryptonator Review - is cryptonator.com scam or good cryptocurrency exchange?

RATING: 1.8 / 0 REVIEWS Cryptonator
Cryptonator is not regulated. We cannot guarantee your money is safe.

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Trading Accounts and Conditions

 

Account type Min. trade size Leverage Trading fee Withdrawal fee
Standard 0.0001 BTC N/A in spread 0.0002 BTC / 1fiat

 

Cryptonator is a Hong Kong-based crypto exchange and wallet. It supports a lot of coins, as well as several fiat currencies.

 

Like most crypto exchanges, this one also uses two-factor authentication, which can be easily activated via via Google or Telegram.

 

 

Cryptonator Advantages

 

- Several fiat currencies accepted. Bank transfer supported

Cryptonator works with Euro, US dollar, Ukrainian Hryvnia and Russian Ruble. Strangely, Hong Kong dollars are not accepted at this exchange. The fact that one can directly change cash for a number of coins at Cryptonator (or vice versa) is definitely an advantage. They can be transferred by bank wire (including SEPA).

 

Unfortunately, Cryptonator does not support credit card payments.

 

-Solid number of altcoins

Apart from Bitcoin, one can buy or sell Ethereum, Ripple, Litecoin, Dash, DogeCoin, Monero, Zcash, and more at this exchange. At the time of writing of this review there are around 15 coins listed, which is a solid number, given tha fact that some similar venues offer only Bitcoin.

 

- Easy registration, anonymous trading

Registration process with Cryptonator is easy and straight-forward – one just has to provide an e-mail address. Unlike most exchanges who work with fiat, this one does not require ID verification.

 

- All-in-one mobile app and wallet available

Cryptonator is a all-in-one service, which includes a crypto wallet, and exchange platform. Its clients can also send cryptocurrency directly to another person or merchandise without any third parties.

It is available to all registered account holders and they can use it to send and receive coins, view real-time market data, etc.

 

- Possibly low fees.

Unlike many other exchanges, Cryptonator does not charge any fees on deposits. Only withdrawals out of the exchange incur some rather small fees, but banks would probably charge something too. Trading fees, on the other hand, are not clearly presented, but appear low when we compare the rates with those in CoinMarketCap.

 

 

Cryptonator Disadvantages

 

-Unclear fees

Cryptonator’s trading fees are calculated in the price of the order. It would have been nice to see them stated in a clear and concise manner, as most exchanges do. The average trading fees in the sector are in the range 0.20% – 0.25%.

 

- Trading interface with no charting

Trading at Cryptonator is done via a web-based interfacethat lacks some basic features and functionalities, such as charting, market depth window, cancellation, etc. Users simply fill in the (crypto) currency they want to sell or by and enter the amount. That is all. Here is a snapshot:

 

 

Click on the image to zoom-in.

 

- No leveraged available

Leverage is a must in the world of forex trading, not in the crypto sector. Yet, some, usually larger, exchanges offer margin trading – OKEx, Kraken, BitFlyer, to name a few. Those of you who wish to use some leverage can also trade in cryptocurrency CFDs with forex brokers.

 

 

>> Brokers offering margin Bitcoin trading <<

 

 

Many negative reviews

We went through numerous negative reviews on Cryptonator in various crypto forums, sites and social media. Some of the common problems users of this exchange have experienced are delayed or blocked deposits/withdrawals, non-responsive customer support. In fact, most of the users directly accuse Cryptonator of being a scam.

 

Conclusion

 

Allegedly established in Hong Kong in 2014, Cryptonator also appears to be targeting people from Russia and Ukraine. It offers trading in a number of cryptocurrencies against a couple of fiat currencies (USD, EUR, RUR and UAH). Coin-to-coin trading is also available.

 

Like most corporate entities in the crypto-verse, Cryptonator is not regulated, which involves certain risks, especially considering the number of negative user reviews on this exchange. We’d like to reminsd you once again that someorex brokers also offer trading in cryptos, and some of them are properly licensed and overseen by the respective financial agencies.

 

>>Top forex brokers offering Bitcoin trading<<

 

 

Pros

Cons

Several fiat currencies , bank transfer supported

Unclear trading fees

Solid number of altcoins listed

No real trading platform

Wallet offered

Many negative reviews

Possibly low fees

No leveraged trading

Mobile app available

 

 

Latest news about Cryptonator
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Traders` reviews for Cryptonator

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