Kriptomat Exchange Review

Kriptomat Exchange Review

Robert McDougall 

February 14, 2022

Cryptocurrency

What is Kriptomat?

Kriptomat is a cryptocurrency exchange based in Estonia. The platform might be relatively new, but it has tons to offer traders and investors. Kriptomat was established and launched in 2018 with the aim to provide their users the freedom, fairness, and fulfilment that cryptocurrencies actually focus on.

With the availability of almost every essential function and feature a trader or investor would want, they have also integrated quite an excellent security system, premium customer support in more than 20 languages, popular crypto assets, and much more under a single website. Kriptomat is accessible in pretty much every country based in Europe, but you might want to take a look at their list of supported countries to see if you are eligible to use their services.

  • Web Address: www.kriptomat.io
  • Main location: Estonia
  • Cryptocurrencies: BTC, ETH, USDT, BNB, USDC, XRP, ADA and 250+ more
  • Fiat Currencies: EUR, USD, GBP, CZK, HUF, PLN, and more
  • Deposit Methods:  SEPA Bank Transfer, Wire Transfer, Visa/Mastercard, E-Wallet (Skrill, Neteller), Cryptocurrency
  • Deposit Fees: SEPA, Cryptocurrency: Free; E-wallets: 5.35%; Wire transfer: €3; Credit card: 1.99%
  • Trading Fees: 1.45%
  • Mobile app: Yes

My Overall Thoughts on Kriptomat

Kriptomat is an excellent platform for anyone who is residing in Europe or any other supported countries, such as Canada. With the support of many fiat currencies, several payment methods, and tons of cryptocurrencies, they surely offer what many traders or investors would like to have. 

The whole interface of the platform is very simple and sound. Even the trading experience is beginner-friendly, and literally, anyone can jump onto the platform and start their financial activities. From my personal perspective, the following are the three things that I found the best about Kriptomat.

1) Over 250+ cryptocurrencies:  If you want to diversify your portfolio and invest your money in all types of projects, then choosing a platform with only a few crypto assets would not make sense. When you sign up with Kriptomat, you will get access to more than 250+ cryptocurrencies that you can instantly buy or sell.

2) Easy and simple trading:  Due to the beginner-friendly platform and easy-to-use interface, Kriptomat has kept trading simple. There are no complications or confusing features that you have to face, and you can open positions quite easily.

3) Multilingual support:  There are very few crypto exchanges that offer a multilingual support team. Kriptomat exceeds expectations. by offering not just a few, but over 20 languages to allow their users to resolve their issues easily.

One downside is that Kriptomat is not available in the USA. If you are a US citizen, don't worry, there are plenty of great options that you can find by reading our article on the best exchanges in the USA.

Key Features & Advantages of Kriptomat

Unquestionably, there are many features and advantages one can enjoy with Kriptomat. You can take a closer look at them and see if the platform has what you need from a crypto trading platform.

Negatives & Disadvantages of Kriptomat

While there are a lot of benefits of Kriptomat, you may also want to consider the negatives and disadvantages to see where Kriptomat can improve their services. The disadvantages may not affect you, but it is best to be aware before you set your mind on using this exchange.

What Services does Kriptomat offer?

Let’s take a brief look at what services Kriptomat offers to their users. This will allow you to understand each and every aspect of the platform and then evaluate if it's a good idea to register tor your cryptocurrency activities.

More than 250+ cryptocurrencies available:  Kriptomat has a massive range of cryptocurrencies available for users to trade, buy, and sell. Having more than 250 cryptocurrencies means that you can diversify your crypto portfolio just as you want and explore new or already popular projects without any type of restrictions or limitations. Not only that, but if you are willing to take risks investing in new altcoins that are worth less than a penny, you will find those types of projects too to start your investing journey. If you are concerned with protecting your capital, you might be better off checking out projects that are stable, have something to offer in the future, and have a good community around the world.

Remember that before you invest in any particular coins, it is recommended to do proper research and then make a decision. You can read whitepapers, future plans, community build-up, collaborations, problem-solving techniques, and other similar things to determine the worth of the project and its cost in the upcoming months or years.

Instant crypto buying and selling:  Instantly buying and selling cryptocurrencies is no longer a myth. With a decade of development in the crypto sector, countless exchanges allow their users to get their hands on different crypto assets right away. Not only that, but the whole process has become relatively easy and efficient. All you have to do is decide what coin you want and which method you would like to pay through.

The same scenario goes for Kriptomat too. You can visit their buying and selling section, choose the crypto asset you want, select the preferred payment method, and you are good to go. You can make the process even faster and hassle-free if you deposit the funds in your account beforehand.

Mobile apps for iOS and Android:  The influence of mobile phones on our lives is enormous. One cannot imagine living their life normally without their phone due to the benefits and convenience it offers. A modern mobile phone is for so much more than just calling, texting or playing games. It is now possible to trade crypto from your handheld device and open or close trades whenever you want.

With the available Android and iOS apps for Kriptomat, their users can enjoy their services efficiently right through their phones. The app can be used as a crypto wallet, keeping all your funds safe there. As for buying and selling, it can be performed through the same payment methods as the desktop version. Of course, you will always be connected to your crypto portfolio and be able to access your funds wherever you are and whenever you like. 

Easy and straightforward trading experience:  This is where Kriptomat caters especially for the new traders, as they have made everything much simpler and more straightforward. There is no complicated procedure to place buy or sell orders, as the users simply have to choose the amount and click a single button to place orders. 

As for the charts available, they are provided by TradeView, so you know you will receive accurate and precise data. The best thing is you can also check detailed statistics of every coin available on the platform. The statistics include 24-hour price change, 24-hour highs and lows, trading volume, dominance, market cap, and a few other things that can be helpful for you to evaluate the markets.

E-wallet deposits and many other methods:  When we talk about E-wallets, we are talking about fiat currency deposits, not cryptocurrency wallets here. E-wallets can be a great payment option for users who do not have access to banks or don’t have debit or credit cards. Few crypto exchanges accept E-wallet transfers, so Kriptomat stands out from the rest.

You can choose options like Skrill and Neteller that are considered the best and most efficient E-wallets available. One thing that you will have to keep in mind here is that the transfer fee for e-wallets is a little higher than the usual methods like credit or debit cards. If you are fine with that, you won’t have to face any more hurdles processing the transaction. As for the other available methods, the exchange offers excellent variety to their users. There is the option to deposit money with SEPA transfers, wire transfers, credit/debit cards, and from cryptocurrency wallets.

Monthly interest with Kriptomat savings account:  Kriptomat claims to offer better investment opportunities than most banks do. With the help of the Kriptomat savings account, users can earn monthly interest on their deposited crypto assets. You simply deposit the cryptocurrencies through your preferred payment method on your Kriptomat savings account and everything would process automatically. Note that you can only deposit a few crypto-assets for the savings account. Those assets are VET, ETC, IOTA, NEO, TRX, XTZ, and USDT. To make things even more accessible for investors, there is no period lock on your gains. You can withdraw your funds whenever you want without any restrictions. 

Extensive learning center:  For those that have literally no idea about crypto and don't know how to get started, don’t worry, as Kriptomat will help you out. You can simply head to the Help Center, and you will be provided with multiple options. You will be able to learn how to get started with the platform, how to verify your identity, how to buy, sell, and trade, and more.

Aside from that, Kriptomat has a separate blog section too, which is great for keeping their users updated with what is happening with the platform. Kriptomat usually post about their latest cryptocurrency listings, UI changes, feature additions, and others on their blog.

Phenomenal multilingual customer support:  English might be an international language, but it is not spoken or understood that well by everyone in the world. If a Kriptomat user has difficulty understanding anything on the platform, they can simply get in touch with the multilingual customer support team. The Kriptomat support team can help solve the problem efficiently and easily, in the language that you are most comfortable with.

Fully licensed and regulated in the EU:  Kriptomat is fully licensed and government-regulated in the EU; they are legally compliant and follow all the rules and regulations under EU law. There have been no reports of payment frauds, inaccurate data, and tampering that could lead to negative consequences, so you can deposit funds and start trading on Kriptomat without any worries..

What I don't like about Kriptomat

You might have created quite a positive image of Kriptomat in your mind, but it's good to remember that they have aspects that can be improved. There definitely are some points where the exchange needs to work in order to bring the best possible potential and to enhance the overall experience of the traders. The following are some minor points that I don't really like about Kriptomat:

Not available in the US and some other countries:  You might have noticed that Kriptomat focuses quite a lot on European countries. Well, it is mainly due to the rules and regulations they have complied with. Aside from EU countries, they do support users from other continents, but unfortunately, the United States and some other countries are not on the supported list. If you are not able to use Kriptomat in your country, you will have to find an alternative to start trading or investing. A good place to start researching is this list of the best crypto exchanges in the USA.

Relatively higher trading fee:  If we take a look at the trading fee of Kriptomat, it is definitely a little higher than their competitors. While most of exchanges charge less than 0.5% from takers and makers for every transaction, Kriptomat charges 1.45%. There is a difference of a whole percent that you will have to keep in mind while trading with Kriptomat. But if we take a look at ease of use, efficiency, payment methods, number of crypto assets available, and support team, many users might not mind paying this fee. 

Kriptomat Fees

Kriptomat Deposit Fees

SEPA: Free

Credit card: 1.99% for deposit, 3.45% for instant buy

Skrill & Neteller: 5.35%

Wire Transfer: €0.50 for CHF, €3 for other fiat currencies 

Cryptocurrency: Free

Kriptomat Trading Fee

Trading is relatively expensive on Kriptomat as compared to the other exchanges. Traders have to pay a fixed fee of 1.45% for every trade, whether buying or selling. The trading fee is fixed and cannot be lowered, even if you have massive trading volume in the past 30 days.

Kriptomat Fiat Withdrawal Fees

SEPA: Free

Wire Transfer: €2.50 for CHF, €10 for HUF, €11 for NOK, €25 for other fiat currencies

Kriptomat Crypto Withdrawal Fees

The fee for crypto withdrawals varies, just like on many other crypto exchanges. Each crypto-asset comes with its own basic fee that is taken at the time of withdrawal in order to complete the transaction. 

Pros and Cons of Kriptomat

Pros
  • Easily buy and sell cryptocurrencies
  • 250+ cryptocurrencies available
  • Multilingual customer support
  • Mobile app for iOS and Android
  • Beginner-friendly platform
Cons
  • Not available in the USA and some other countries
  • Higher trading fee compared to industry standard

Verdict

Kriptomat is an excellent choice of crypto exchange for what it brings to the table. The features, benefits, and ease of use are a few factors that make the platform great for both experienced traders or first-time crypto investors. The only thing holding it back is the slightly higher trading fee of 1.45%, but if you consider the range of 250+ coins, multilingual customer support, and mobile app compatibility, you may decide it is a small price to pay. 

Frequently Asked Questions

Is Kriptomat available for US users?

Unfortunately, Kriptomat is currently not available for users residing in the United States. You can find the list of best crypto exchanges in the USA here.

Is Kriptomat a safe crypto platform?

Kriptomat is a safe and secure crypto platform with no reports of hacking or breaches in its history. They prioritize the safety of their users and their funds through various security methods and verifications.

Is Kriptomat regulated?

Yes, Kriptomat is a government-regulated platform that complies and adheres to all laws and regulations. This aspect gives users an authentic reason to trust Kriptomat with their funds.

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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