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Kriptomat — Cryptocurrency Exchange Review

16 September 2020 17:13, UTC
Kriptomat — Cryptocurrency Exchange Review

A lot of cryptocurrency exchanges have one major issue — they develop their products for advanced people in the crypto field. There are just several companies that have a “crypto beginner” user experience in mind, creating simple, distinguishable, easy-to-use products, where any person, non-familiar to crypto, can understand what to do in order to buy, sell and store cryptocurrencies. This step makes good marketing positioning for such companies and Kriptomat is one of them — Bitnewstoday decided to make a review of the platform.

Brief

  • Website: https://kriptomat.io
  • Launched: 2018
  • Number of coins: 30
  • Average daily turnover: ~1000 BTC
  • Affiliate program: yes

Background

Kriptomat was launched by the Slovenian team, but currently has its HQ in Estonia, one of the most crypto-friendly jurisdictions. Despite the fact that most crypto projects aim at anonymity and freedom of transaction, Kriptomat has a different approach. The platform is fully compliant with legislation and that’s why they established the “KYC” to be one of its main features. This decision made it possible for Kriptomat to work under strict GDPR regulations in Europe — the exchange legally provides its service to customers from 80 countries. Users can check the lists of jurisdictions, whether they can buy and sell crypto on Kriptomat, while there is also a list of countries restricted from service. More than that, the service of Kriptomat is provided in 23 European languages which is a good step towards deeper integration in various countries.

Benefits

  • Perfect Guidance

First of all, the main benefit of Kriptomat is a simple and understandable user interface. As it was mentioned before, users who just want to buy cryptocurrencies and are unfamiliar with the matter, are thoroughly guided through the website. There are several video guides explaining the fundamentals of buying, selling, sending, and storing crypto on the platform.

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So, it’s a “life-saver” website section for people who never used cryptocurrencies before. Spending 30-40 minutes here allows users to dive deeper into the world of Bitcoin and other cryptos and stick closer to its fundamentals. Recently, there was a little drawback when videos were provided mostly in English, but now all guide videos are translated into other languages. There are also other text sections like “Help” and “Blog” where users can get familiar with the matter in their native language and thus upgrade their knowledge about digital assets.

  • Flawless Security

One of the main flaws of the crypto industry, in general, is the security issue. Most people try to keep away from cryptocurrencies because they are afraid of hackers’ attacks. Kriptomat made high levels of cybersecurity one of the basic principles of performance and, yes, they delivered that. For the two years of its existence, the exchange has never been hacked and funds were always safe.

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More than that, Kriptomat is strictly compliant with the highest international security standards, having obtained multiple licenses. Kriptomat passed through an independent audit based on 114 criteria set by ISO and thus is considered to be the 1st European cryptocurrency exchange to receive ISO 27001:2013 certification. Such an approach is a representation of the platform's dedication to becoming the safest place for the assets of its customers. All legal and security documents are available on their website here https://kriptomat.io/legal-and-security/

  • Convenient KYC, Transactions, and Low Fee System

In order to gain access to the platform users must pass through KYC procedures, which are relevant and quick, and will take not more than several minutes. After that, clients get full access to their accounts and proceed to the service. Kriptomat has various convenient methods to start trading cryptocurrencies. There are traditional methods, which most clients are used to like VISA, Mastercard, SEPA, and bank transfers, as well as modern fintech payment solutions like Neteller, Zimpler, Sofort, Skrill, etc.

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The best idea about using Kriptomat for your transactions is its low fees — as it is presented in the special section of the website. As you may know, another barrier for not dealing with crypto is the inconvenience of converting fiat to crypto and back, as well as the huge fees established by greedy exchangers. Here, at Kriptomat, fees are extremely low, and perhaps, one of the lowest in the European area — ranging about 1.45% to 3.95% for a single transaction. This benefit allows Kriptomat to become a favorite service for amateur traders. You can also examine all fees and limits in detail right on this page https://kriptomat.io/fees-and-limits/

Is that so perfect? Any drawbacks?

While studying a variety of other reviews, Bitnewstoday authors didn’t encounter any serious issues referring to Kriptomat service. The negative feedback posts mostly concern the prolonged bank transfers — but, unfortunately, this is the well-known situation in the field of traditional finance, since the compliance offices sometimes take their time for studying your transactions.

What about the developments?

Kriptomat offers a convenient mobile trading app that can be downloaded from the App Store and Google Play. It is also working on new updates and soon will be ready to present “Kriptomat 2.0”. The company also offers affiliate programs and provides bonuses to its users.

Summing up!

Kriptomat is a legally compliant and extremely secure cryptocurrency trading platform with low trading fees. It is easy and convenient to use even for people who don’t know English well as it provides user experience in 23 languages. It is one of the best ways to get acquainted with the world of cryptocurrencies and create a portfolio of digital assets and keep it safe.



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