The Ultimate Cryptonator Wallet Review
Cryptonator is an all-in-one service, that features a crypto wallet as well as an exchange platform. Users are able to send cryptocurrency directly to another wallet address or merchandise without requiring third party involvement.
The cryptocurrency wallet uses encryption to secure user data, however, you do not retain full control of your private keys.
The official site states that they have 1 million active accounts and has processed 80 million transactions so far. The service supports the following languages: English, German, Spanish, French, and Russian.
Who Created Cryptonator?
The Cryptonator wallet platform was developed by the Cryptonator Company, and is so far their only product. The company was founded in 2014 by Andy and Brian Chen, having its headquarters in Hong Kong, China. Brian Chen is currently the CEO of Cryptonator.
This web wallet can be used on computer and mobile devices which run on the following systems: Android, iOS, OSX, Windows, Chrome, Firefox.
Other existing wallets cannot be imported to Cryptonator.
In addition to Bitcoin, users can store, exchange, send or receive Ethereum, Bitcoin Cash, Ripple, Litecoin, Dash, Dogecoin, Monero, Zcash, and many others. Currently, the wallet features support for more than 17 cryptocurrencies.
A Cryptonator account also supports exchanges between BTC, LTC, ETH, PPC, DASH, XMR, ZEC, and XRP.
Cryptonator accepts four fiat options: Euro, US Dollar, Ukrainian Hryvni, and Russian Ruble. It is peculiar that Hong Kong dollars are not accepted even though the company is based there. Funds can also be deposited via bank wire (including SEPA).
Credit card payments are not supported on Cryptonator.
Registering on Cryptonator is convenient for those that want anonymity, as it only requires an e-mail address. No ID verification is required even though it is a service that works with fiat currency.
The official website of Cryptonator states that it employs “bank-grade security” in addition to various security measures to ensure the safety of their users’ funds. They claim that all their services run over secure SSL (HTTPS) connection, and sensitive user data is encrypted in hash format by SHA-256 cryptographic algorithm.
A two factor authentication option is also available with One-Time-Passwords, which further increses security.
There have been several complains made regarding Cryptonator’s services in various crypto forums and social media platforms. Most of the negative reviews were in relation to blocked deposits/withdrawals, and a very slow or non-responsive customer support.
The wallet platform also has a built-in exchange which executes automated instant conversions without requiring buy and sell orders. It also features a calculator for 500 cryptocurrencies and allows their prices to be tracked in USD, EUR, GBP, RUR, AUD in addition to other fiat currencies.
The trading is carried out on a web-based interface which does not feature basic tools such as charting, market depth window, cancellation, etc.
Customer support is available in the form of an FAQ section and a Help Center. Users are also able to contact support directly via email.
Sign up process
- Go to their official website and click on “SIGN UP”
- You will then be taken to a new page titled “Open new account”.
- Here you must select the type of account you want: Personal or Merchant.
- Type your email and enter the password.
- Click on “Create an account”
- Verify your email and click on the “verification link”
- After logging in, click on the “Setup guide”.
- Select the wallets you will be using
- Click on “Next Step”
- Generate new deposit addresses, click on Next Step.
- Activate 2-step verification. Download and install the Google Authenticator on your device, scan the QR code via the Google authenticator app on your mobile phone, type the generated code and click Send.
- Copy and paste the secret key
- Click on “I backed up my secret key, close the window”
- Click on Send tab
- Select your coin from the drop-down menu
- Copy and paste the address in the “To the coin address” section.
- Select the Amount type and the number of coins you intend on sending
- Click on “Preview Payment”
- After confirmation, click on “Send”
Cryptonator Wallet Review: Summary
Cryptonator is a multi-currency wallet which also offers exchange services for its supported digital assets. While it does offer support for a number of cryptos, there are wallets that have a broader selection, and which also let you retain control of your private keys.