Cryptonit cryptocurrency exchange is UK-based company that is able to alleviate the operations with virtual coins. The company has been working since 2012 and has acquired flawless reputation among users. Cryptonit Solutions Ltd submitted a request to FCA trying to determine its regulatory status and received an answer saying that its activities should not be regulated by the state.
US dollars and euros are used to deposit funds to Cryptonit. There are some geographical limitations on the use of the platform. Citizens of some countries are not able to trade on it, for example, Yemen, Iraq, Syria etc.
The activity of the platform depends upon the volume. You can always learn Cryptonit exchange volume on Coinmarketcap.
Cryptonit does not determine the prices. There is an open market there and only users influence it. Some experienced traders take advantage of the difference with other exchanges, earning on it.
It takes time to process the operations when you buy or sell crypto. Sometimes the whole procedure takes up to 6 hours.
The customer can deposit with a bank card but it is not allowed to use the bank card of the third party. Additionally, clients resort to SEPA or wire transfer. Many people using Cryptonit ask about Paypal payments. They want to employ Paypal to transfer funds. FAQ says the opportunity is not available at the moment. However, it is possible to withdraw assets to Paypal. The table with Cryptonit fees includes this way of withdrawal. It costs 1.9%, the minimal amount is 50 EUR. In case you want to transfer virtual coins to the account, the address should be generated in the menu of the wallet.
The selection of currencies traded on the platform meets demands of most users. However, if you need such virtual coins as Darkcoin or Livecoin, you’d better look for other platforms.
Numerous Cryptonit reviews point out lower fees than average at the market. At the same time, the platform is criticized for higher depositing and withdrawal fees. Customers also complain about slow transfer of funds.
Only verified users are able to perform fiat transactions. It is necessary to verify identity in accordance with European KYC standards. The client has to complete the profile and upload documents. 3 documents are required: ID, proof of address document and selfie with these documents. The advantage of Cryptonit exchange is fast verification. The procedure can be performed in an hour.
2-factor authentication is used for additional safety. The person has to confirm his operations via mobile.
Cryptonit API service is in testing mode at the moment. After it is completed, the users will be able to control their accounts using it: buy and sell crypto, get market details. The access to API is possible via https only.
Customers can apply to the support via ticket system. Feedback section also includes email to be used by those who experience problems when logging in to the account.
The name of the company should not be confused with Cryptonite, decentralized payment network, which promotes its Cryptonite coinor popular mining algorithm Cryptonight employing Cryptonight pool and Cryptonight calculator to determine the mining profit.
The basic info of Cryptonit exchange ✤ ✥ ✦ ✤ ✥ ✦ -
average rating 5 from 5
(based on 122 user reviews)