Kriptomat Review: How Does it Compare & is it safe?

When deciding to invest in cryptocurrency, you have tons of platforms competing for your attention and business. You need to ensure that you choose one that has low fees, great support from customer service, ease of use, and high security. In this Kriptomat review, we will break down exactly what you can expect from this newer platform. 

CategoryRating
Fees⭐⭐⭐⭐ 4.5/5
Easy to Use⭐⭐⭐⭐⭐5/5
Support⭐⭐⭐⭐⭐5/5
Security⭐⭐⭐⭐⭐5/5

Kriptomat is a three-year-old fiat-to-crypto gateway regulated under the EU that aims to grant access to crypto globally. Currently, they are available in over 80 countries and 23 languages. They have competitive fees, a great platform for beginners, and excellent responses from customer service. 

If you are curious what Kriptomat has to offer, this detailed Kriptomat review will help guide your decision-making process. 

Who is Kriptomat? 

Kriptomat is a custodial cryptocurrency exchange founded in the European country of Estonia. Their fiat-to-crypto gateway is regulated under the EU, making it available to members of more than eighty countries around the globe. Their slogan is that “everybody, everywhere, deserves the freedom, fairness, and fulfillment that crypto represents.” 

Currently, they are available in eighty countries with 23 languages. 

Kriptomat Review

They just celebrated their third birthday with a long list of achievements under their belt. During this time, they have had no data leaks and have earned multiple security licenses. When you trade with them, you can rest assured that your data is highly protected. 

Their licenses include one to provide services of exchanging a virtual currency against fiat currency. The other is to provide a virtual currency wallet service. They were also the first European cryptocurrency exchange to be awarded with the highly-coveted ISO/IEX 207001:2013 certificate. 

At the moment, they support buying, selling, and storing 200 cryptocurrencies. However, they do have plans to expand. More cryptocurrencies are constantly being added. Registered users are the first ones notified when new cryptocurrencies are added, so be sure to register if you are looking for something in particular. 

Kriptomat Review: Fees

One of the areas where Kriptomat shines is in their fees. They have relatively low fees and minimums so that you can get started in cryptocurrency without headache. 

Both buying and selling requires a 1.45 percent fee with a minimum of 1.45 EUR. 

If you plan to purchase your crypto with a credit card, you will be looking at a 3.45 percent fee. Additional charges may apply if you make a purchase lower than 100 EUR. Keep in mind that your card issuer may have additional fees on these types of purchases. 

Many people use their digital wallet to fund their crypto purchase, but these will face much higher fee percentages. Skrill and Neteller will both cost you 5.35 percent with additional charges for purchases under 100 EUR. 

Exchanging crypto to crypto has no fee. 

Keep in mind that there are withdrawal fees as well. The specific withdrawal fee will vary based on the type of currency that you wish to withdraw. For example, bitcoin (BTC) has a 0.00015 BTC withdrawal fee. 

Kriptomat does not charge fees for SEPA deposits and withdrawals. However, your bank may charge a flat fee or a percentage of the transaction. In some scenarios, the bank may charge additional fees for transfers between your bank account and Kriptomat. The minimum SEPA deposit to Kriptomat is 35 EUR. 

Limits

In addition to the fees charged for transactions, you should also be aware of the trade limits. These can help you to better plan your transactions in advance. 

The daily SEPA deposit and withdrawal limit is 25,000 EUR. There is also a monthly restriction posed on this category. The monthly SEPA deposit and withdrawal limit is 200,000 EUR. The minimum SEPA deposit to Kriptomat is 35 EUR.  

The daily limit for other payment methods is 500 EUR, and the monthly limit for other payment methods is just 5,000 EUR.

Crypto deposits and withdrawals can be made without limit. 

Bear in mind that the withdrawal or sending amount is always based on current market conditions. It is usually somewhere in the range of 15 to 25 EUR, but it is always subject to change. You will always be prompted to review it prior to confirming the transaction. 

Kriptomat Review

Kriptomat Review: Ease of Use

Kriptomat is really designed with the beginner user in mind. You can register for an account in just minutes. Accounts will take less than a few minutes to set up, requiring only your name, email address, and a new password. 

Note that you must be at least eighteen to utilize this gateway. 

Once you have an account set up, it takes just a few clicks to begin buying and selling crypto such as bitcoin. Not only is it inexpensive to use Kriptomat, but it is also reliable and easy to use. It takes very little exploration to learn how to do everything you need to do. 

The homepage is conveniently set up to show your crypto balances and their overall value in euros. From the wallets section of the homepage, you can easily send and receive crypto just by clicking on one of the wallets. 

If you click over one tab to the Buy/Sell section of the website, you can easily navigate everything you need. For those who are in the market to buy, all you have to do is: 

  1. Select the coin you wish to purchase. 
  2. Enter the preferred payment method. 
  3. Select the amount you wish to pay for your coin. 
  4. Click on the buy button at the bottom to see your payment details and finalize the transaction. 

There is also a Portfolio section that allows you to set price alerts. This can be quite helpful if you want to be notified when the price drops on a particular crypto that you want to purchase. It can also signal you when it is a good time to sell some of your holdings. 

Kriptomat Review: Customer Support

While most of the processes on Kriptomat are fairly straightforward, you may need assistance from customer service from time to time. Knowing what to expect from this process may help you decide whether Kriptomat is the right platform for you. 

The good news is that they have a very approachable customer support team. They understand that everyone has different communication preferences, which is why they offer three different methods to get in touch with them: 

Customer service works from 8:00 AM to 5:00 PM on working days. In most situations, they will respond to you within the hour. Over weekends and holidays, it might take up to one full day to get a response. 

However, you are likely able to find the answers to your most common questions without waiting on customer support staff. They have a rather extensive FAQ section that covers most of the details of the platform. 

If you are simply looking for the latest news on crypto, you can check out their guides pages or their blog

Another unique function of their customer support is their social media involvement. Kriptomat is on the most common platforms including Twitter, Facebook, and Instagram. They also have accounts on Medium, LinkedIn, YouTube, and Tumblr. 

Kriptomat Review: Security

If you are considering where to invest your money, you probably want to ensure that it is going to be kept safe. Security is of the utmost importance for everyone, and Kriptomat understands that. 

Security measures are implemented based on the recommendations of ISO 27002:2013 Information technology and the Cryptocurrency Security Standard. The entire platform complies with the General Data Protection Regulation (GDPR) to protect all of your sensitive personal data.

Kriptomat Review

In terms of their organizational measures, they have highly secure cold storage with controlled access. They monitor all of the balances and trends to keep 98 percent of crypto assets in this type of system. This system has strict operational procedures with even more stringent guidelines for the most sensitive operations. 

To prevent hackers from wreaking havoc, they run frequent security tests such as penetration testing. This allows them to resolve identified vulnerabilities that could pose problems in the future. 

They also have a dedicated team that logs all actions on the platform. This allows them to quickly identify and respond to any activities that they might deem suspicious. 

In addition to these organizational measures, they also take technical measures such as: 

  • Encryption mechanisms to prevent man-in-the-middle attacks or eavesdropping
  • Network security that follows zoning principles
  • Physical security measures including confidentiality of the location of the physical servers
  • DDoS protection system with a Web Application firewall
  • 24/7 monitoring

Kriptomat vs Binance

CategoryKriptomatBinance
Fees1.45% for buying and selling (1.45 EUR minimum)0.02% to 0.10% purchase and trading fees 
Amount of Coins20052 coins (in US), 500 (non-US)
SupportHighLow
Ease of UseHighLow

Comparing Kriptomat vs Binance can be a bit challenging. In many ways, Binance is a clear winner for someone who is just looking at the hard numbers. They have lower purchase and trading fees and substantially more coins available (for those who are located outside the United States). 

Binance is more geared toward advanced investors who want more features on their trading platform. However, the platform is harder to use and way more complicated than the beginner-friendly option available from Kriptomat. 

Customer service should also be considered. It can be rather difficult to get in touch with Binance if you encounter any issues. Consider how often you need assistance before deciding to go with this trading platform. 

In the end, we have to award Binance as the winner due to its low fees and high amount of coins. It is best suited to more advanced investors. 

Kriptomat vs Coinbase 

CategoryKriptomatCoinbase
Fees1.45% for buying and selling (1.45 EUR minimum)1.49% for Coinbase wallet or bank account purchases 
Amount of Coins20051
SupportHighMedium
Ease of UseHighHigh

When it comes to a comparison between Kriptomat vs Coinbase, Kriptomat is the clear winner. 

If you are paying with a bank account, the fees are going to be slightly lower on Kriptomat. While 0.04 percent may not seem like much, it can add up if you are doing a large volume. 

Coinbase does win for the number of coins available, though the advantage is slight. Consider which cryptocurrencies you wish to purchase to determine which platform to use.

Both platforms are geared more toward beginner investors with their ease of use. If you are looking for more advanced features, you might need to look at a different platform like Binance. However, their categories and features are able to sustain most traders sufficiently without the need to upgrade to another platform. 

Coinbase does not score as high on customer service. They even state that their customer service response time may take longer than usual. The only way to connect with them is via a contact form on their website. Meanwhile, Kriptomat lets you reach out via web chat, email, or contact form.  

Kriptomat vs eToro

CategoryKriptomateToro
Fees1.45% for buying and selling (1.45 EUR minimum)0.75% spread between bid and offer price, withdrawal fee $0 (minimum amount $30)
Amount of Coins200120
SupportHighHigh
Ease of UseHighHigh

The winner between Kriptomat vs eToro is pretty clear. When looking at every category, eToro is the winner. 

First, they have a substantially lower fee for buying and selling. In a Kriptomat review, it is important to recognize that their fees are not the lowest around. Other platforms like eToro can be quite competitive by only charging 0.75 percent spread between the bid and offer price as opposed to the 1.45 percent for buying and selling charged by Kriptomat. 

eToro also has almost triple the number of coins available. 

Both platforms are geared toward beginner investors with an easy-to-use platform. While it may not have all the bells and whistles of sites like Binance, it is definitely enough to help most people. They also both have a very responsive customer service team. 

After looking at the breakdown, eToro has to be the winner. 

Kriptomat vs Bitpanda

CategoryKriptomatBitpanda
Fees1.45% for buying and selling (1.45 EUR minimum)1.49% – discounts for paying with BEST
Amount of Coins20057
SupportHighLow
Ease of UseHighMedium

Between Kriptomat vs Bitpanda, Kriptomat is once again the winner. 

Upfront, Kriptomat has lower fees for buying and selling in general. A 0.04 percent difference can really add up if you plan to deal in large volumes. The only slight advantage is that you can get a discount on Bitpanda for paying in BEST, their Bitpanda Ecosystem Token. 

Bitpanda does offer more coins, which makes it the winner in this category. However, Kriptomat isn’t too far behind. 

When it comes to support, Kriptomat wins again. Bitpanda currently has a long list of problems they are experiencing with their system including the Android app. Both allow you to connect with web chat or on social media, as well as a contact form. 

Kriptomat is also a bit easier to use than Bitpanda. It is a more focused platform that specializes solely in cryptocurrencies. One of the unique features of Bitpanda is that it also allows you to invest in stocks, crypto, and metals all in one convenient platform. However, this makes the user platform a bit more complicated.  

Kriptomat Review: A Clear Winner

Kriptomat may still be relatively new with only a few years under its belt, but those who use it are already loving it. Its fees are relatively in line with many of the other leading platforms. The number of coins it has available is constantly growing. It has excellent customer service, great security, and an easy-to-use platform. 

When it comes to the Kriptomat review, you have found a clear winner for your investing needs. 

Leave a Comment