1 Level
10 Review
17 Karma
Review on Cryptonator by Tomek Klys
Cryptonator the multi cryptoasset wallet
Unlike some other cryptocurrency wallets, this one allows you full control of your private keys. In many cases, when crypto platforms suffer security breaches, hackers access coins that were left in hot wallets. These coins are more vulnerable to theft but are in the control of the platform, not the owner, since the owner does not have the private keys.
But on Cryptonator, you get access to and control over your private keys right from the onset. This places the power back in the users’ hands and allows account holders to take measures to keep funds safe.
One of the greatest concerns associated with cryptocurrency wallets is safety and Cryptonator is no exception. The team behind the wallet has, however, taken significant measures to enhance Cryptonator safety
Pros
- For cryptocurrency users who value anonymity, the wallet offers convenience during the registration process. It only requires an email address and users do not have to undertake identity verification.
- As a hot wallet, it is easily accessible since all it requires is an internet connection.
- Supports multiple fiat currencies.
- As an all-in-one wallet, Cryptonator can hold cryptocurrencies and also support exchange services. It actually offers the option of making immediate automated exchanges without necessitating the use of buy and sell orders.
Cons
- Cryptonator exchange fees are relatively high
- Users cannot import their existing wallets to Cryptonator
- The wallet is unregulated and therefore poses risks to users
- It supports a limited range of cryptocurrencies
- Cryptonator does not offer leveraged trading
- Being a hot wallet, it is prone to phishing and hacking attacks by malicious actors
- As a software wallet, it is not as secure as hardware counterparts
