Bitinka wallet review

Bitinka wallet review

Bitinka
Intuitive Ease of use,  Low Privacy,  Wallet platform Private Keys Stored

Bitinka is one of the biggest wallet and exchange sites in Latin America. It's focus is integration with fiat currencies, so it allows deposits and withdrawals to a traditional bank account and is convenient for the average user. It allows the average user to take advantage of some of the benefits and flexibility of Bitcoin without getting trapped in the world of altcoins. Great for new users.

Functionality wise, the wallet is pretty solid, they have an internal exchange system which will help you get a decent conversion rate from USD to BTC. It's simple to use and set up, you will need an additional mobile app to make merchant payments, but the wallet can transfer crypto and fiat between your accounts.

Company / organization behind the wallets

Bitinka is a Peru based startup that launched in 2013, since then they have revolutionized the way people use crypto there, as they offer a payment application linked to the main wallet. They are often featured in the news and there are few complaints.

Crypto Currencies Support

Traditional Currency Support

  • Argentine Peso (ARS)
  • Bolivian Boliviano (BOB)
  • Brazilian Real (BRL)
  • Chilean Peso (CLP)
  • Chinese Yuan (CNY)
  • Colombian Peso (COP)
  • Euros (EUR)
  • Peruvian Nuevo Sol (PEN)
  • US Dollar (USD)
  • Venezuelan Bolívar Fuerte (VEF)

Language Support

  • English
  • Portuguese
  • Spanish

Supported Systems

  • Online Only

The Bitinka platform is focused on making a quick and easy platform for the laymen user to quickly exchange between alt-coins and fiat currencies. It is not security driven and it shows. This is not a long term storage wallet but it can be useful for quick exchanges and buying alt coins.

Summary:

Security
Low
2 Factor Authentication
Yes
Multi-Signature
No
Private Keys Stored On
Wallet platform
Storage Type
Hot storage
Transactions Validation
Centralized validation
Hierarchical Deterministic
No

What happens in the event of a disaster/theft/loss?

Password can be changed through email verification..

This wallet allows new users to quickly buy, sell and trade a variety of Cryptocurrencies. The interface is reasonably easy to navigate the the design is simple and to the point. It is most popular in Latin America where it originated.

Summary:

BitInka offers a great deal of functionality and makes it very easy to buy and trade altcoins. It is not security focused and requires that the user depend blindly on the wallet platform to secure their funds. It's easy to use once your account has been verified. Because it is integrated with fiat currencies it is not anonymous.

Ease of use
Intuitive
Suitable For
Millennials
Account activation process
Involved
Transaction fees
Dynamic Transaction fees
Setup fee
$0.00

Functionality:

  • Buy coins using bank account
  • Exchange coins crypto to crypto
  • Withdrawal funds to bank account

Functionality wise, the wallet is pretty solid, they have an internal exchange system which will help you get a decent conversion rate from USD to BTC. It's simple to use and set up, you will need an additional mobile app to make merchant payments, but the wallet can transfer crypto and fiat between your accounts.

The wallet platform has built the exchange function in their own software and manages it locally.

Help and
support:

  • FAQ section
  • Contact form
  • Email

Personal information for activation account:

  • Name
  • Email Address
  • Phone Number
  • Passport/ID
  • Proof of address

Most common
customer complaint:

Slow transaction times