Cryptonit.net

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Overall Rating
Cryptonit.net ★★☆☆☆ 1.5
5 1
Type Trader Exchanger
Since2012
LocationLondon, UK
WebsiteCryptonit.net
Social Links
FeaturesHelpful trading tools for professionals
DerivativesNo
Margin TradingNo
Deposit FeesNo fees
Trading Fees0 - 9.8%
Withdrawal Fees0 - 20%
Tradeable Coins Bitcoin (BTC) LiteCoin (LTC) NameCoin (NMC) Dogecoin (DOGE) PeerCoin (PPC)

Advantages

  • A lot of withdrawal and deposit options
  • Secure and reliable
  • Some rare currencies are available

Disadvantages

  • No live chat with customer support
  • Low liquidity

Cryptonit: Registration, Features, Functions, Pros and Cons

Cryptonit is a cryptocurrency exchange based in United Kingdom (London). This website was created by a group of crypto enthusiasts led by Andrei Yanukovich in 2012. An interesting fact is that FCA (Financial Conduct Authority of UK) is a close partner of Cryptonit. During these six years, Cryptonit established itself as a trustworthy service, mostly focused on European customers.

How it works?

Just like all other platforms for crypto trading, Cryptonit can only be used after registration. To create an account, you have to provide a standard set of documents, like ID (drivers’ license or passport are fine, too), proof of your residence and a photo of yourself holding your documents.

However, that’s not all. After submitting all that stuff, you need to have a video-chat with website’s administrators and show your documents to them.

If you have no ambitions for major transactions, you may skip the verification process. Unverified users have a 100 euro daily trading limit.

Cryptonit offers cryptocurrencies (BTC, LTC, DOGE, ETH) for fiat money (USD, EUR).   

As for the payment and withdrawal methods – they are vast here. You may use PayPal, SEPA transfer, PerfectMoney, International Wire Transfer, Payeer, OKpay, TrustPay, SOFORT Banking or credit card. When it comes for withdrawals, there is a couple of additional options like Skrill, The Western Union, QIWI and Paxum. Fees vary from method to method.

Cryptonit is a simple website that doesn’t offer any specific services like margin trading, derivatives, futures, etc. The interface is clear and straightforward. Moreover, there is a Terms of Service page, where you can find key information about all aspects of usage.

In a word, website’s speed and simplicity evoke thoughts that Cryptonit cares about customers and their positive user experience.

Also, we would like to make a point about Cryptonit’s security. There is a 2-factor authentication, email notifications and PGP emails there. The sign-in procedure is rigorous and getting a new password requires back up login information, which makes Cryptonit even safer.

Good thing is that the website doesn’t keep user’s money on the website, but has a cold storage, which means that your coins are out of hacker’s way.

Pros

  • A great deal of withdrawal and deposit methods, including PayPal, Payeer, OKPay, Skrill, etc.;
  • High level of users’ security;
  • Simple and practical website;
  • Reliable service with positive reputation around the web.

Cons

  • Only a few types of coins available;
  • No live chat for fast communication with customer support;
  • Transactions are pretty slow and take days;
  • No advanced trading options.

Conclusion

Generally, Cryptonit is a reliable website that meets all basic requirements for this type of service. It is safe, simple, supports numerous payment methods and have some coins beyond BTC.

Despite the fact that transactions here take 3-4 days, the website works pretty fast – it doesn’t seem that too many clients are using Cryptonit simultaneously.

We believe that Cryptonit has a lot of nice features to provide, so it surely is worth a try.


Client Reviews

★☆☆☆☆
1 5 1

★☆☆☆☆
1 5 1
I verified my account by sending id and selfie and then transferred money to my deposit and was kicked out from my account. My account is blocked for a couple of days and I am very upset about this. Hope they will unblock it soon, because they just took money and blocked me, that’s not the best way to treat your customers! scammers

★☆☆☆☆
1 5 1
This is what I saw today trying to enter my account 503 Service Unavailable You have to be very careful with this site. I recommend to deposit only small sums you are not afraid to lose, because this platform goes haywire sometimes

★☆☆☆☆
1 5 1

★★★☆☆
3 5 1
I used cryptonit to buy Ether for paypal before because this method is fast and safe. Today I deposited USD and changed them. Then I made a request for withdrawal. The entire operation took 12 (!) hours and this was an uneasy time of my life If you are okay with going ape for a couple of hours as I did – then you may try cryptonit

★★☆☆☆
2 5 1
I am a newcomer and decided to try my cryptocurrency journey with Cryptonit. I needed to work through the conceptions of the market and get all the important points of the trading process, so I have asked a couple of questions and didn’t receive any comprehensive instructions from website’s administration. complex graphics However I think that as a customer I should have some chance for a conversation and a small guide. Sad thing this is a place I started with

★☆☆☆☆
1 5 1

★★☆☆☆
2 5 1
My first experience with Cryptonit was a try to buy Ethereum for paypal and the transaction took 24 hours to be done. The next time I tried to complete a transaction, cash transferring took two days. Guess, if I try making my third order, I’ll have to wait for three days If you are okay with waiting for eternity – then cryptonit is worth a try. I will find an exchange that works faster.

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