Cryptonator is an online wallet for diverse cryptocurrencies that offers a built-in exchange feature with fastest transactions.
It also allows an instant trade for multiple altcoins within one personal account. However, it doesn’t meet the lofty security standards.
An Overview: Cryptonator Wallet
Cryptonator is a web-based cryptocurrency wallet that encrypts the user data online; whilst providing you the access to the funds they control on your behalf.
This web wallet is available for Android, iOS, OSX, Windows, Chrome, Firefox.
The good bits about this wallet are:
- It gives you multiple cryptos at the loss of handing over control of your funds to the third party
- Your account is all about anonymity, privacy, and bank-grade security.
- The wallet platform claims to implement all possible measures to secure your funds.
- All the services run completely over secure SSL (HTTPS) connection.
- The critical user data is hashed by the SHA-256 cryptographic algorithm.
- Two-factor authentication and One-Time-Passwords adds an extra security to your account.
- Direct transactions with an immediate exchange between different currencies.
- This wallet is accessible 24/7 worldwide on the web, desktop or mobile devices alike.
The official site claims to have 1 million active accounts, supports 19x currencies with 40 million transactions that are already processed.
You can watch more about the Cryptonator Wallet here:
The Company behind the Web Wallet
The Cryptonator wallet platform is a product of the Cryptonator Company. It was established in 2014 by Andy Chen and Brian which is located in Hong Kong, China. The company owns no other products besides the web wallet. Brian Chen is the current CEO of Cryptonator.
|Bitcoin (BTC)||Ethereum (ETH)||
|Bitcoin Cash (BCH)||
|Dashcoin (DSH)||Emercoin (EMC)|
Traditional Currencies Supported
- United States Dollar (USD)
- Euro (EUR)
- Russian Ruble (RUB)
- Ukrainian Hryvnia (UAH)
Minimum Deposit, Withdrawal and Exchange Amounts
Their accounting system does not process the transactions below the minimums.
How to Setup Cryptonator Web Wallet?
Navigate to the official website https://www.cryptonator.com/ > click on “SIGN UP”
It redirects you to another page asking to “Open new account”.
Select Personal account > type your email > enter the password. [Remember: Password should be strong combination including, symbols, characters, uppercase, numbers]
Fill in all the details > click on “Create an account”
After clicking on Create an account > go to your email > click on the “verification link”
Once you’ve logged in, click on the “Setup guide”. [Since Cryptonator is a multi-coin wallet ensure all the coins are turned on]
Click on “Next Step”
Generate new address for every coin > click on “Next step”
Next step is very important: Activating 2-step verification! You have options; you can use any of your choices. However, it is recommended to Activate via Google Authenticator.
Download and install the Google Authenticator on your device > scan the QR code via the Google authenticator app > your phone app generates a code > type that code > click Send
Copy and paste the secret key and keep it very safe like in USB. After this, click on “I backed up my secret key, close the window”
To send coins: Click on Send tab, from the drop-down menu > select the coin you want to send [In this case, let’s take Bitcoin].
Copy and paste the address you want to send to in the “To the bitcoin address” section.
Select the Amount type and the number of coins you want to send
After verifying > click on “Preview Payment”
A confirmation pops up, double check > click on “Send”
To receive coins: Click on “BALANCE” > select the coin you want to receive > click on the arrow that is faced downwards > click on “Show my Bitcoin deposit address”.
The coin address will show up > copy and paste the address > send it to the sender so he can send coins to you.
You can find all the transactions under the Transaction history section just click on Activity Tab.
- Exchange coins “crypto to crypto”
The wallet platform provides the possibility of making automated immediate exchanges without buy and sell orders.
The Cryptonator service is available 24/7 worldwide.
It also acts as a calculator for altcoins enabling the users to find the price of any crypto related to fiat coins.
You cannot import the existing wallets to Cryptonator.
Exchange fees are pretty high.
The web wallet has built the exchange function in their software and maintains it locally.
Help and Support
- FAQ section
- Help Center
Cryptonator is really going great by being both “an exchange” and “the web wallet”. It supports many cryptocurrencies with an instant exchange between them.
Their portfolio adds over 500 cryptos and tokens tracking their actual value in the USD, EUR, and other fiat money.
The security of your funds is based on the reliability of the wallet platform. However, the exchange rates are quite high, which sometimes becomes a point of concern.
If you are looking for a good reliable multi-coin wallet; then Cryptonator is one of the right choices for you!
You can also refer to the following article:
Image courtesy: Cryptonator, Coinwalletguide