Cryptonator has a big focus on anonymity and doesn’t ask for any verification upon sign up. The wallet also allows you to store more than 400 tokens. However, being a hot wallet, it lacks security. Keep browsing through the article to learn more about this wallet.
Cryptonator wallet is one of many online storages for cryptocurrencies. The wallet accepts more than 400 of the most famous tokens and allows to store, exchange, withdraw, or deposit them.
The wallet is quite easy to get a hang of with a fast sign up from the main page and a simple interface. Moreover, storage gives you many services. You may find out about them later on in this Cryptonator review, so keep on reading attentively.
Pros and Cons
- Great anonymity for users
- An all-in-one crypto wallet
- Support of various fiat currencies
- Fast accessibility since Cryptonator is a hot wallet
- Storage and acceptance of more than 400 various crypto coins
- High exchange fees
- No import of an existing wallet to Cryptonator
- Lack of safety due to being a hot wallet
Of course, the Cryptonator wallet is less safe than any hardware wallet out there which are made to store your funds safely for as long as you want. Cryptonator being a hot wallet is great to store some funds for a short period of time. However, the storage deals with its safety well, using its own ways. Particularly, the wallet implements the safe SSL connection, and all of your valuable data on it is encrypted using an SHA-256 cryptographic algorithm. Moreover, Cryptonator has a 2-factor authorization making your account even more protected. Remote servers store 90% of all funds and don’t accept any incoming connections. To secure yourself even more, you can activate security mail notification to receive letters about your actions and set the trusted IP address to have control over the access.
Setting up the wallet
Creating a Cryptonator wallet is easier than you might’ve been expecting. First, sign up on the main website of Cryptonator, or download its app if you’re on a mobile device. Immediately turn on the 2-FA authentication for your own safety.
Don’t forget to confirm your account in the letter sent to your email, otherwise, usage problems may occur after some time. Once you complete the form, you’re free to explore the wallet. The storage doesn’t demand any verification apart from verifying your email and phone. The program allows you to exchange between fiat and crypto as well as send and receive crypto.
A variety of services
Cryptonator wallet claims to be all-in-one storage not just for fun. The hot wallet truly contains a big amount of services, even a professional trader could need.
An exchange and calculator
Cryptonator gives you a chance to, for example, calculate how much bitcoin is equal to the fiat currency. Besides calculating, you also exchange currencies to fiat and backward. However, remember, the fees during exchanging currencies aren’t considered low, so don’t overdo them.
If you want to trade crypto or any other financial instrument, having a graph in front of your eyes is a must. Cryptonator wallet gives you all information on the current price of a specific coin and its movements.
You gain access to these graphs from the main page. Open the tab Services and choose Exchange Rates. The graph shows you the price of the token at certain times in the past and present. Using them, you trade crypto and make money for a living.
Biggest winners and losers on the market
Another service shows you the crypto coins which went up in price the most, and which went down in price the most. You check out the main winners and losers on a daily, weekly, or monthly basis.
You also choose specific tokens you would like to look into. Then, the service shows you the price of this specific coin, and if it’s been going down or up in the past day, week, and month.
Cryptonator is a free wallet without any need to pay for its services. However, all transactions and conversions from one currency to another are followed by fees from the storage.
The fees on the exchange are quite high, so it’s recommended to not overdo it with them. Thankfully, Cryptonator wallet has low fees on sending and receiving crypto from someone. The processing fee is 0.9% of your received payment. Your outgoing payments will be charged depending on the cryptocurrency you’re sending. The prices deducted from your main balance are shown below:
- Bitcoin - 0.00010000 BTC
- Dogecoin - 1.00000000 DOGE
- Dash - 0.00100000 DASH
- Litecoin - 0.00100000 LTC
This is the end of the Cryptonator review. So far, you’ve learned what this storage is, the services it offers, prices, and also the main pros and cons of it. Overall, Cryptonator is a great choice for people who prefer to stay anonymous and don’t need to hold big amounts of crypto.