Frequently Asked Questions
WHAT IS KRIPTOMAT?
Kriptomat is an online platform for digital currencies, located in the EU. It enables people to safely and easily buy & sell digital currencies in their local language and with local support.
WHAT IS CRYPTOCURRENCY?
Cryptocurrencies or digital currencies are the core of the new electronic payment system. They have similar properties to physical money (banknotes and coins), but they also allow the immediate transfer (transaction) of funds to another account, regardless of the country to which the funds are sent.
This system uses a decentralized currency via a peer-to-peer network to prevent double spending.
WHAT IS BITCOIN?
Bitcoin is the world’s first digital currency, created in 2009 by a person or an anonymous organization under the pseudonym of Satoshi Nakamoto. Bitcoin enables fast payments (and micro-payments) at low costs and bypasses the need for centralized authorities and issuers.
WHAT IS BLOCKCHAIN?
The blockchain is not a digital currency and it is not just a different word for bitcoin. It is a technology that forms the backbone of the most recognizable cryptocurrency (bitcoin). Nowadays most databases are being stored on central servers (each bank has its own register, the real estate authorities have their own register, etc.), whereas the entire blockchain as a database remains stored on a large number of computers that are synchronized with each other. The blockchain system provides significant transparency, security, and efficiency.
DOES KRIPTOMAT HAVE A REFERRAL PROGRAM?
Yes, we do! You can share Kriptomat with your friends and you will get a 50% revenue share for a year from each friend you refer. Read more about how it works in detail here!
IS BITCOIN A SECURE INVESTMENT?
Kriptomat is not an investment consulting service, and as such, we cannot advise on investment options. You can look at real-time values of cryptocurrencies on our website.
IS BITCOIN LEGAL?
Bitcoin and other digital currencies are not prohibited. As this is a relatively new phenomenon and technology, state authorities and the social environment are still adapting.
WHICH CRYPTOCURRENCIES SHOULD I INVEST IN?
Kriptomat is not an investment advisory service, so we cannot advise in which currency to invest in. You can look at the trend of individual currency values on our home page with the real-time values of cryptocurrencies.
WHERE CAN I EXCHANGE EURO FOR BITCOIN?
You should first find the platform that is best suited to your knowledge and needs. Online services such as Kriptomat allow you to easily and quickly exchange your local currency into digital currency such as bitcoin. Advanced users can also do this on more advanced exchange offices or online exchanges.
Bitcoin can also be purchased through machines (ATMs) at various locations or at some gas stations.
WILL CRYPTOCURRENCIES SURVIVE IN THE FUTURE?
The future will show whether or not digital currencies will remain viable. Like other areas, the area of payment instruments is constantly evolving and digital currencies were created as a result of this development. For example, just as we had witnessed over the last few decades how the popular German mark or Italian lira came into existence and got replaced by the euro some years later.
HOW DOES KRIPTOMAT WORK?
Once the user creates an account on Kriptomat.io, we enable that user to easily buy, sell and exchange cryptocurrencies. Watch our tutorial videos to see how it works.
Fast, simple, safe.
WHICH CRYPTOCURRENCIES CAN I BUY?
You can buy bitcoin and ethereum, but we will expand our selection in the near future. Follow the full list here.
DO YOU SELL BITCOIN?
No. Kriptomat.io is a service that indirectly allows you to buy, sell, or store bitcoin and other cryptocurrencies from the cryptocurrency market.
CAN I EXCHANGE MY CRYPTOCURRENCY FOR EURO WITH KRIPTOMAT?
Yes, you can exchange your digital currency. You can exchange your bitcoin or ethereum coins into your local currency, e.g. EUR on Kriptomat.io.
DO I NEED A PRIVATE WALLET?
No. You will receive digital wallets for the most popular digital currencies (like bitcoin and ethereum) directly to your Kriptomat.io account.
HOW TO GET STARTED ON KRIPTOMAT?
Opening a new account on Kriptomat is simple, fast and free of charge. With a click on the “Register” button, you start the sign-up procedure where you fill out the required information.
Once you log-in to your account, you simply transfer funds and start buying cryptocurrencies. We created a simple step-by-step guide as well!
IS KRIPTOMAT SAFE TO USE?
Yes, our main task is to ensure the security of our users’ data. With our modern security systems, we are carefully and constantly monitoring the system for possible suspicious activities.
However, we cannot guarantee the safety of bitcoin (or other coins) that are being kept on the users’ own computers, so it is also of the utmost importance that the user takes proper care and appropriately secures his or her private digital wallet.
HOW MUCH DOES KRIPTOMAT COST?
Kriptomat charges a nominal fee for every transaction of funds from your account and for buying/selling of cryptocurrencies. The charged fees are always shown during the transaction display.
HOW LONG DOES A DEPOSIT TAKE?
The bank transfer takes between 2 and 5 business days, SEPA payments take 1-3 business days to appear on your Kriptomat account.
WHO PAYS THE WITHDRAWAL COSTS?
The user. Regardless of the withdrawal method, the withdrawal fee will be shown before payout and deducted from your account. The minimum amount for international withdrawal is 50 euros.
Kriptomat does not affect any fees that banks charge for SEPA payments.
HOW LONG DOES IT TAKE TO WITHDRAW FUNDS?
Transfers inside the SEPA area usually take 2-3 business days and up to 5 days for users outside the SEPA area.