Cryptonit.net exchange has recently experienced a complete reborn, which turned it from a cozy run-by-one-man exchange to a robust and secure trading platform with many interesting features which are definitely worth paying attention to.
Before we jump into reviewing what Cryptonit has to offer you now, we will give some background info. Cryptonit.net has been launched back in 2012. From the very first days of its operations, Cryptonit was primarily devoted to technical aspects (especially security) and did not pay much attention to appearance of the site and that’s why many traders considered it very user-unfriendly. Cryptonit was not rushing with pushing its services to wide public and for a long time has been working on technical advances and improvements. A long period of heavy testing should pass before any technical innovation is implemented. This is the only way through which you can achieve top-notch service in a rapidly changing crypto industry.
Beginning of 2014 Cryptonit.net is operated by Cryptonit Solutions Ltd, a London based company. Cryptonit has become silver member of Bitcoin Foundation. As one of the current priority goals for new Cryptonit is to become fully compliant with regulations which are applicable to crypto currencies in the UK. To overcome complicated compliance procedure Cryptonit has partnered with Eitan Jankelewitz from London based Sheridans law firm. Eitan Jankelewitz has been on the frontier of crypto currency legal related issues in the UK and is planning to share his best experience with Cryptonit. Compliance procedure includes, but not limited to:
- establishing direct communication with FCA and receiving an official statement from them regarding Cryptonit’s business in the UK
- registration at HRMC as Money Service Business (MSB)
- refining and further development of AML/KYC policies
- and many more.
Seems like Cryptonit has really taken the legal issues seriously, which is quite impressive, taking into consideration all the recent mess which was happening in the crypto world. The industry is growing up, so do the participants who are playing big here.
Now comes the moment to share some of the features, which new Cryptonit has to offer.
Security is something that Cryptonit has passion for. There are 3 types of authenticators offered, which will help you secure your funds. For beginners there is a simple e-mail authenticator, no withdrawing can happen without transaction being confirmed by the person who has actually initiated it. For advanced users Google two factor authentication will become a nice alternative. For pro users there is a yubikey. For trusted traders with good volumes Cryptonit is giving free Yubikeys. Cyptonit possesses EV (extended validation) SSL certificate, which you can identify in your browser by the green bar with company’s name.
When it comes to trading itself, Cryptonit offers unbeatable so far 0.15% per transaction fee. It’s not that Cryptonit is simply trying to stand out by making the fee so low, it’s more the other players in the industry being a bit greedy. 0.15% is more than reasonable and is capable of helping to maintain good trading environment. Trading at Cryptonit is fully automated.
Crypto currency deposits and withdrawals are instant. Distinctive feature is free of charge cryptocoin deposits. What you send is what you get on your account.
FIAT deposits and withdrawals have recently become the bottle neck for almost all of the exchanges in the crypto currency industry. Cryptonit is challenging it in many ways. Not only Cryptonit works with EUR and USD, the list of available payment methods for FIAT deposits and withdrawals impresses us quite a bit:
- international wire transfer / SEPA
- Perfect Money
- Western Union
- and many more.
Support is offered via tickets, e-mail and most important phone number, where you will be answered directly by real people and not another bot. Last, but not the least, Cryptonit is preparing release of its Android trading application, which will let you trade on your tablet or smartphone anywhere you are. Cryptonit is aiming at creating a real crypto trading ecosystem.
To sum up everything what has been told we need to say that Cryptonit is here to do everything it can for its partners and all the stakeholders.
Ok, too many words. Better simply try.