Is Crypto Simple? Kriptomat Claims It Is


Fiona O’Connell


2020 January 20th

Cryptocurrencies are yet to become an universally-accepted payment method. And one of the main reasons for that is very clear.

They are very complicated.

Compared to ordinary (fiat) money which we all grew accustomed to - like dollars or euros - selling, buying, and withdrawing cryptocurrencies can look like a serious challenge.

This is where gateways like Kriptomat come in.

kriptomat review featured.png

Aimed at European markets, this project wants to make ordinary people join the crypto world and see those transactions as simple as the regular money ones.

Let's see how they're planning to make that happen.

Helping you all along the way

From start to finish, Kriptomat has dedicated itself to making the crypto purchasing and selling process simple and effective. It only takes a few minutes to register and start using this platform.

The trend of ease of use carries on all the way to making purchases.

For example, pretty much every main function of this payment gateway is explained is multiple tutorial videos made by the company.

They are short but very informative. As you can see in the picture above, the topics include pretty much everything a regular user would need. From logging in to the account to making purchases and finding a wallet's address.

But if those videos don't include answers to the questions you have, well - there's always customer support.

kriptomat review customer support

And in the case of Kriptomat, they have a seriously good team of professionals, ready not only solve your technical problems but also to guide you through a sometimes confusing and overwhelming crypto world.

You won't need to wait long for help, too.

Responses are immediate - for both registered and non-registered users.

What's even better, both the interface and customer support are available in 20 different languages.

So don't worry - if they'll want to do it, all the Spanish-speaking uncle and Bulgarian grandmothers won't have any issues making crypto sales.

Transparent, low pricing

Currently, Kriptomat sells 17 cryptocurrencies and tokens. Here are some of the main ones.

In addition to those, in this Kriptomat buy can find several more.

And when it comes to buying, it's good to know that Kriptomat doesn't seem to follow a lot of the bad business standards. There are cases of some markets increasing Bitcoin prices by even up to 15% extra.

In Kriptomat, the transaction fees start at a fixed 1.45% rate, making this a perfect value option, especially good when buying crypto in bulk.

kriptomat review fees

Here are the buying and selling fees for Kriptomat:

Transaction type Fee
SEPA deposit, buying (EUR -> Crypto) 1.45%
Credit/Debit card, buying 5.1%
Selling 1.45%

And if you wish to make a withdrawal, the fees are also pretty small - and you make them with the cryptocurrency you have in your account. Here are the fees for the few of the most popular ones:

Withdrawal currency Fee
Bitcoin (BTC) 0.000625 BTC
Ethereum (ETH) 0.00625 ETH
Litecoin (LTC) 0.00125 LTC

Great security and transparency standards

When it comes to crypto payment gateways, or really, any cryptocurrency/blockchain project, some people don't fully trust them.

To be fair, there's a reason for that.

There have already been enough cases in the crypto world, where seemingly big and successful projects have suddenly gone bankrupt and left. Or when the coins stored by the exchange were blatantly stolen.

So it doesn't surprise anyone, that users are becoming more aware of the risks, and now expect business working with their money to be trustworthy and secure.

And there's a solid difference between a company with licenses and full credibility, and a company that can only be trusted by their own word.

Well, this is where Kriptomat really shines.

It's built with credibility in mind - it's fully licensed and regulated by the EU. Kriptomat has all the official EU licenses for digital wallets and crypto trading.

And also, over 98% of Kriptomat's resources are stored in cold wallets, not connected to the Internet, meaning that in case of a very unlikely security breach, almost none of the funds will be stolen.

This way, Kriptomat would avoid the fate of Coincheck, an exchange service which kept its coins in a hot wallet, connected to the Internet, and lost more than $500 million worth of cryptocurrency.

All of those regulations and security standards - plus an advanced two-factor authentication used for user logins should put at least some peace at the back of your mind.

And in this confusing world of cryptocurrencies, that is always appreciated.

Final thoughts of this Kriptomat review

After having a go and seeing what Kriptomat can do, I see this exchange as a great first step for anyone wanting to start trading cryptocurrencies.

The website is very simple to use, there are plenty of tutorials and customer support is always ready to help.

But Kriptomat is not only for beginners. Traders of all backgrounds can appreciate the fact it's a low-cost solution, including all of the security measures and following EU regulations.

And by doing that, Kriptomat really can make cryptocurrency simple for everyone.

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