Cryptonator wallet review

Cryptonator
Very basic Ease of use,  High Privacy,  Wallet platform Private Keys Stored

Cryptonator is an online wallet for multiple cryptocurrencies such as Bitcoin, Litecoin, Ethereum etc. and available for download on Android and iOS. The wallet platform has a built-in exchange feature with fast and easy direct transactions and instant trade for many altcoins in one personal account, but does not meet the highest security standards with no HD or multi-sig features.

The Cryptonator wallet platform offers the possibility of making automated instant exchanges without buy/sell orders and is accessible 24/7 worldwide. It also acts as a calculator for altcoins allowing users to find the price of any cryptocurrency related to another one or several fiat coins. Existing wallets cannot be imported to Cryptonator and exchange fees are pretty high.

Company / organization behind the wallets

The Cryptonator wallet platform is a product of the Cryptonator company which was launched in 2014 by Brian and Andy Chen and is based in Hong Kong, China. The company has no other products besides the online wallet and Brian Chen acts as current CEO of Cryptonator.

Crypto Currencies Support

Traditional Currency Support

  • Euro (EUR)
  • Russian Ruble (RUB)
  • Ukrainian Hryvnia (UAH)
  • US Dollar (USD)

Language Support

  • English
  • French
  • German
  • Indonesian
  • Russian
  • Spanish

Supported Systems

  • Android
  • iOS
  • Chrome Extension

The wallet platform claims to take all possible measures to keep user funds safe and secure with services that operate entirely on secure SSL connections, critical user data hashed by SHA-256 cryptographic algorithm, trusted IP addresses and one-time passwords valid for only one login session or transaction. They don't offer complete cold storage so your coins are safe as long as they stay honest.

Summary:

Security
Low
2 Factor Authentication
Yes
Multi-Signature
No
Private Keys Stored On
Wallet platform
Storage Type
90% of all funds are stored on remote servers which are disconnected from the internet and which accept no incoming connections. The employees don't have access to the funds.
Transactions Validation
Centralized validation
Hierarchical Deterministic
No

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

The wallet will generate a 1 time use password to regain access to your account..

Cryptonator wallet platform is easy to use by everyone, both experienced traders and miners and newbies in the crypto world, it does not require users to have technical background and has a simple, yet modern interface and design. However, it does not offer absolute certainty over revealed exchange rates and the rates are composite prices, thus making the wallet not suitable for investment needs.

Summary:

Cryptonator is really more of an exchange than an online wallet. It supports many cryptocurrencies with instant exchange between them. Their portfolio supports over 500 cryptocurrencies and tokens and allows tracking their actual value in USD, EUR and other fiat money. The security of your funds is dependent on the reliability of the wallet platform and exchange rates are high.

Ease of use
Very basic
Suitable For
Account activation process
Simple
Transaction fees
Set transaction fees
Setup fee
$0.00

Functionality:

  • Exchange coins crypto to crypto

The Cryptonator wallet platform offers the possibility of making automated instant exchanges without buy/sell orders and is accessible 24/7 worldwide. It also acts as a calculator for altcoins allowing users to find the price of any cryptocurrency related to another one or several fiat coins. Existing wallets cannot be imported to Cryptonator and exchange fees are pretty high.

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

Help and support:

  • FAQ section
  • Email
  • Help Center

Most common customer complaint:

Support does not answer, bad security and privacy, exchanges prices very high