The basics of crypto trading
Cryptonator is the most popular multicurrency wallet among Russians. Users are being attracted not only by a support of 17 currencies including fiat ones, but also by an availability of instant replenishment, exchange and withdrawal of funds. A convenient online version or an Android application will allow to have a permanent access to personal assets.
Nowadays Cryptonator is one of the most profitable and convenient multicurrency wallets for residents of Russia. Among other reasons, users give their preference to it because of the possibility to replenish accounts in RUB from Yandex Money and bank cards.
Cryptonator is an online vault for cryptocurrency. Fiat money can be also kept in it. Currently the service supports USD, EUR, RUB and UAH. The main function of the platform is operating with digital assets. The 13 most popular coins are presented here including Bitcoin, Bitcoin Cash, Dash, Ethereum, Litecoin, Monero, Ripple and Zcash.
The wallet is available not only through a PC, but also from an Android-based mobile device with the application previously downloaded from Google Play.
The service is being actively used by Russians not only for storing of personal assets, but also for executing internal exchange. The wallet has a minimal limit for a transaction’s amount which is set for each currency separately.
What does it mean? The only thing – it’s impossible to carry out a deposit, a withdrawal or an exchange operation with a smaller amount of coins. Moreover, replenishment and conversion of one currency into another can be accomplished without any fees – the platform charges payment only for withdrawal. Its amount depends on the type of an operation. The wallet’s fees for withdrawal to other wallets are fixed for each digital asset. If third party services are applied, it’s set in percentage terms:
Users are provided with an extra ability to transfer funds away from their wallets without a fee. For example, it’s possible to pay for Internet or replenish a mobile phone’s account this way.
Cryptonator is not just a wallet – it’s also a service which allows to follow exchange rates of desired currencies online in one spot in accordance with the data provided by various cryptocurrency exchanges.
The Cryptonator service emerged in the spring of 2014. Initially the developers positioned it as a platform for secure storing of digital assets, while exchange operations weren’t supported.
A peculiar fact – from the very beginning it was only possible to work with the wallet only through the Google Chrome browser. That’s why many users had to switch to it. Nowadays the developers offer a mobile application apart from the online version, but, honestly, currently it’s available only to users of Android smartphones.
The functionality of the wallet has extended significantly so far if compared with the initial concept. The website provides exchange, online conversion and monitoring of current exchange rates. It is not only possible to withdraw money to a personal bank card or to the Yandex Money system directly from an account, but also to pay bills without fee.
Availability of a Russian version of the wallet isn’t the only reason for its popularity in Russia. Users highlight other numerous and much significant advantages of the platform:
The disadvantages that worth mentioning are a lack of a mobile application for iOS devices, obligatory constant confirmation of logging in via SMS or in other ways and, probably, presence of minimal sums of transactions which excludes a possibility of working on the platform for the smallest-scale investors.
Before everything else, the investor who is just planning to work with Cryptonator will probably wonder how to use the service. Let’s sort out all the details in the review.
It’s necessary to go through a registration progress before starting working with the wallet. There shouldn’t be any difficulties at this point as a minimal amount of data will be required. Press the “Sign up” button in the upper part of the main page or “Sign up for free” at the bottom of the screen.
If you intend to work with the service from a smartphone, use Google play to download the application.
Here a registration form will appear at once. Moreover, an account can be created not only for yourself, but also for your online store. In the first case only an e-mail address and a password are required, while in the second case the name of the company should be additionally provided.
Then the system will ask to confirm the e-mail address by following a link from the received letter. After that a Setup Guide will appear. Here it will be necessary to:
By completing that the service is available for working.
The account can be managed in the “Settings” tab. The history of all operations is stored in the “Activity” tab. Cryptocurrencies can be added or excluded through the “Portfolio” tab. 4 tabs are provided explicitly for work.
Each type of payment has its restrictions and fees which are thoroughly described at the bottom of the page.
Users are additionally provided with a converter (calculator) of cryptocurrencies, exchange rates of coins or fiat money to the rest of presented currencies, the exchange rates’ dynamics for a day, a week, 1 or 3 months. All this makes working with the wallet convenient without need for utilization of third party resources.
All kinds of feedback about the Cryptonator wallet can be found in the Net. Some users praise the operational interface and functionality:
“Have been using Cryptonator for storing of my funds for about a year, everything is all right. An additional thumb-up for an ability to monitor current exchange rates on various currency exchanges and to replenish the account in rubles – started to refill it from Yandex Money.”
Less flattering comments about the service also exist. Moreover, usually users complain about thefts of their funds and unauthorized access to their accounts by third parties. Such feedback doesn’t look persuasive enough, as a two-factor authentication is required in order to enter the site, and, if an authentication is performed from another IP address, it’s necessary to confirm it via e-mail.
Opinions about Cryptonator. have divided. Somebody consider it the most functional wallet for Russians with numerous useful features and abilities, while others complain about a low level of security. The developers themselves deny negative comments by providing arguments concerning the multilevel protection which includes two-factor authentication, e-mail notifications and utilization of the list of trusted IP addresses.
The Cryptonator wallet is undoubtedly one of the most convenient services for domestic users. That’s exactly why more than 1 million people have registered in the service and more than 60 million transactions have been conducted in it since its creation.