Cryptonit is a full-feature cryptocurrency exchange service and trading platform, founded in 2012 and headquartered in London. While offering all the expected services of a usual exchange, it prides itself on an especially wide range of available deposit/withdrawal methods, as well as enhanced security measures.
Suitable for both newcomers and experienced cryptocurrency users, Cryptonit allows both simple exchange of fiat money for such cryptocurrencies as Bitcoin, Litecoin, Peercoin, and Namecoin, as well as the more complex option of trading between these coins.
How cryptonit works
Upon visiting Cryptonit for the first time, users are offered to register on the exchange with a simple sign up feature. A user is required to enter a username and their email address, after which an automated email is sent to the inbox they have specified.
After clicking a single-use link from the confirmation email, they are taken to a new page, where they can set up a password for their account, which concludes the process of basic sign up. A two-factor authentication feature can also be enabled, in order to increase the security of a user’s account.
After the process of registration is finished, the users are free to deposit funds (either fiat or cryptocurrencies), and start trading them on the exchange. The new users are also encouraged to verify their physical identity as part of the exchange’s KYC policy, as it unlocks access to some of the features, which are unavailable to unverified clients.
The idea behind Cryptonit is simple: they offer every user a simple, convenient, and secure way of trading fiat and cryptocurrencies. That is achieved through continuous improvement of the service, which includes the addition of highly demanded deposit/withdrawal methods, such as credit/debit cards, paypal, skrill, international wire/SEPA, and many others.
Another key proposition of the exchange are its flexible security options, which is very important in today’s Bitcoin industry.
Cryptonit requires a basic 0.15% fee for all conducted trades. Additionally there are fees for deposits and withdrawals ranging from 0% to about 5% for the majority of options.
Cryptonit also offers its own affiliate program to incentivize those users who attract their peers to trade on the exchange. Including both a traditional system of referral links, and a more complex option for developers of various apps and services, it is a nice addition to the impressive list of Cryptonit’s features.
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