Frequently Asked Questions
What is Kriptomat?
Kriptomat is an all-in-one cryptocurrency exchange and wallet located in the EU. Our user-friendly platform enables you to safely buy and sell digital currencies in your local language and with local support.
What is Blockchain?
The blockchain is not a cryptocurrency and and it is not a word for bitcoin. It is the technology that Bitcoin and other cryptocurrencies use to maintain transparency, security, and efficiency. A digital currency is not a cryptocurrency if it isn’t on the blockchain. Blockchains do not need to be attached to cryptocurrencies, in fact, they can manage many forms of assets such as gaming items, reward points, and electoral votes.
Nowadays most databases are stored on centralized servers that are controlled by a single entity, whereas a blockchain is database that is managed by a large number of computers that are perpetually synchronized with each other while being controlled by completely separate entities. This level of decentralization ensures no single party can make autonomous decisions that impact the greater community’s sovereignty.
What is Cryptocurrency?
Cryptocurrencies are an advanced form of digital currency that is regulated and governed by an algorithm on the blockchain. They have similar properties to physical money (banknotes and coins), but they also enable the immediate transfer of funds anywhere in the world.
The inherent decentralization of cryptocurrencies means that your funds can not be frozen, seized, or devalued by hyper-inflation, offering a new level of person sovereignty within the global digital economy.
What is Bitcoin?
Bitcoin is the world’s first cryptocurrency, created in 2009 by an anonymous person or organization under the pseudonym of Satoshi Nakamoto. Bitcoin utilizes blockchain technology to enable fast worldwide payments without the need to trust or rely on companies, banks, and issuers.
Does Kriptomat have a referral program?
Yes, we do! Recommend our simple, safe, and secure platform to your friends and you will receive a 25% revenue share for a whole year from each friend you refer. Find out more!
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?
Online services such as Kriptomat allow you to easily and quickly exchange your local currency into cryptocurrencies such as Bitcoin.
Bitcoin can also be purchased through machines (ATMs) at various locations.
Will Cryptocurrencies survive in the future?
Only time will tell whether or not digital currencies will flourish. Global payment methods are constantly evolving and cryptocurrencies were created as a result of this phenomenon. In the same way we witnessed how the popular German mark and Italian lira were created over the last few decades and were then replaced by the euro some years later. There is a general trend that shows signs of us moving towards a global economy. What that economy will look like is yet to be seen.
How does Kriptomat work?
Which Cryptocurrencies can I buy?
We list Bitcoin, Ethereum, and a vast array of other cryptocurrencies. Our selection is always expanding. View the full list.
Do you sell Bitcoin?
Kriptomat.io is a service that indirectly allows you to buy, sell, or store Bitcoin and other cryptocurrencies. We are a simple, safe, and secure peer-to-peer marketplace where you can buy Bitcoin off other users.
Can I exchange my Cryptocurrency for Euro with Kriptomat?
Yes, you can exchange your Bitcoin or Ethereum, and cryptocurrencies into EUR via our user-friendly platform.
Do I need a private Wallet?
No. We will provide safe and secure digital wallets for all of the most popular cryptocurrencies as part of your Kriptomat.io account.
How to get Started on Kriptomat?
Is Kriptomat Safe to use?
Yes, we work tirelessly to ensure the security of our users’ data. We implement industry best practices, including SMS authentication, offline cold-wallet storage, organisational & technical protection, and ongoing security evaluations & monitoring.
However, we cannot guarantee the safety of cryptocurrencies being stored on the users’ own computers, so it is of the utmost importance that each user takes proper care and appropriately secures his or her private wallet.
How much does Kriptomat Cost?
Kriptomat charges a nominal fee for for buying and selling cryptocurrencies and transferring funds from your account. There are no hidden charges and the fees are always shown prior to confirming each transaction.
How long does a Deposit take?
Bank transfers take between 1 and 5 business days, SEPA payments take 1 to 3 business days to appear on your Kriptomat account.
Who pays the Withdrawal costs?
The user. Regardless of the withdrawal method, the fee will be shown prior to confirming each withdrawal. The minimum amount for international withdrawal is 50 euros.
How Long does it take to withdraw Funds?
Transfers inside the SEPA area usually take 1 to 3 business days and can take up to 5 days for users outside the SEPA area.