Cryptonit: Cryptocurrency marketplace review October 2018 | finder.com

Cryptonit cryptocurrency marketplace – an overview

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You may consider making an investment into an altcoin such as bitcoin – if so, you’ll want to know which marketplace is best.

What is Cryptonit?

Cryptonit is a platform on which you can trade your fiat currency — government-issued currency, like dollars, yen and euros — for such cryptocurrencies as bitcoin, ethereum, ethereum classic and ZCash.

Compare bitcoin marketplaces like Cryptonit

Rates last updated October 20th, 2018
Details Features
Coinbase Digital Currency Exchange
Coinbase Digital Currency Exchange
Buy and sell bitcoin, Ethereum, Bitcoin Cash and Litecoin on one of the world's most renowned cryptocurrency exchanges.
  • Fees: Varies by transaction
  • Supported countries: 32 countries
  • Payment methods: Bank transfer, Credit/debit card, wire
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LocalBitcoins P2P Exchange
LocalBitcoins P2P Exchange
Trade fiat currency for bitcoin in person or online with this peer-to-peer exchange offering competitive fees and wide delivery options.
  • Fees: 1% commission for each completed operation
  • Supported countries: Exchangers in 248 countries
  • Payment methods: PayPal, Credit/Debit and more
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BitQuick P2P Bitcoin Marketplace
BitQuick P2P Bitcoin Marketplace
Buy and sell bitcoin fast through a cash deposit at your local bank branch or credit union, or via a money transfer service.
  • Fees: 2% to buy, 0% to sell
  • Supported cryptos: BTC
  • Funding methods: Cash – USD
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Binance Cryptocurrency Exchange
Binance Cryptocurrency Exchange
Trade 60+ cryptocurrency pairs on this up-and-coming exchange based in China. Multi-language support.
  • Fees: 0.1% trading fee
  • Supported countries: Worldwide
  • Deposit methods: BTC, ETH, LTC, NEO & BNB
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Paxful Bitcoin Marketplace
Paxful Bitcoin Marketplace
Connect with bitcoin buyers and sellers through this peer-to-peer marketplace that accepts cash, credit and more than 300 other payment methods.
  • Fees: Varies by transaction, and PayPal no fees
  • Supported countries: Worldwide
  • Payment methods: Western Union, PayPal and many more
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Changelly Crypto-to-Crypto Exchange
Changelly Crypto-to-Crypto Exchange
Access competitive crypto-to-crypto exchange rates for more than 35 cryptocurrencies on this global exchange.
  • Fees: 0.5% + networking fees
  • Supported countries: Worldwide
  • Payment methods: USD, EUR, 35+ cryptos
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Indacoin Cryptocurrency Exchange
Indacoin Cryptocurrency Exchange
Use your credit or debit card to buy bitcoin and other cryptocurrency without having to verify your identity.
  • Fees: Varies by transaction
  • Supported countries: More than 100 countries
  • Payment methods: Payza, Credit/Debit cards (USD) and more
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Cancoin P2P Crypto Exchange
Cancoin P2P Crypto Exchange
Buy and sell bitcoin with privacy on this multi-signature, peer-to-peer exchange that supports a wide range of payment options.
  • Fees: 1% + miner's fee (sellers only)
  • Supported countries: USA & Canada
  • Payment methods: Cash, PayPal, Western Union & more
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Bitit Bitcoin Marketplace
Bitit Bitcoin Marketplace
Buy bitcoin with cash or credit card and get express delivery in as little as 10 minutes.
  • Fees: Card: 8.9%, Cash: 11.9%
  • Supported countries: 50+ countries
  • Deposit methods: Credit card, cash vouchers, Epay
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Coinmama Bitcoin Marketplace
Coinmama Bitcoin Marketplace
Use USD/EUR to buy bitcoin and Ether with credit card or cash on the Coinmama cryptocurrency exchange.
  • Fees: 5.5% + 5% for credit card
  • Supported countries: 226 countries worldwide
  • Payment methods: Credit/debit card, cash
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VirWox Virtual Currency Exchange
VirWox Virtual Currency Exchange
Buy bitcoin through PayPal on one of the oldest virtual currency exchanges in the business.
  • Fees: Varies by transaction
  • Supported countries: Worldwide
  • Payment methods: PayPal, Skrill, paysafecard, uKash
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xCoins P2P Bitcoin Lending
xCoins P2P Bitcoin Lending
Buy bitcoin instantly with credit card, PayPal or bank account on this peer-to-peer lending platform.
  • Fees: Varies by transaction
  • Supported countries: 40+ countries
  • Payment methods: Credit card, PayPal, bank transfer
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Cryptex24 Exchange
Cryptex24 Exchange
Buy and sell crypto and other digital currencies on this global fixed-rate exchange.
  • Fees: Varies by transaction
  • Supported countries: Worldwide
  • Payment methods: Western Union, MoneyGram, Perfect Money & more
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Can I buy cryptocurrency through Cryptonit?

Making an international transfer through Cryptonit involves five steps:

  • You deposit fiat currency onto the Cryptonit platform.
  • You use that fiat currency to purchase bitcoin.
  • You transfer the bitcoin to your recipient’s Cryptonit or personal cryptocurrency wallet.
  • Your recipient sells the bitcoin for fiat currency.
  • Your recipient withdraws the money to their bank account.

You can deposit and withdraw fiat currency through different methods, including international wire transfer and PayPal.

How much can I send with Cryptonit?

The limits of your transfers with Cryptonit depend on the method you use to withdraw your money.

Minimum and maximum withdrawal amounts

MinimumMaximum
PayPal$10$1,500
International wire transfer$500$20,000
Western Union$200$1,000
MoneyGram$200$1,000

How much does it cost to transfer money with Cryptonit?

We’ve listed fees for depositing and withdrawing money through a few popular platforms such as PayPal and Western Union. But you can find a full list of fees on Cryptonit’s website.

Trading fees

Cryptonit’s fee to trade cryptocurrency is 0.45%.

Depositing money

Trading feeMinimum fee
International wire transfer0%0%
Credit card (Visa or Mastercard)4.9%$2
PayPal9.8%$2

Withdrawing money

Trading feeMinimum feeMaximum fee
PayPal2%$1No limit
International wire transfer0%$80No limit
Western Union20%$25No limit
MoneyGram20%$25No limit

How long does it take to transfer money through Cryptonit?

PlatformTransfer speed
PayPal4 business days
International wire transfer3 business days
Western Union3 business days
MoneyGram3 business days

You can typically complete a bitcoin transfer within an hour. However, it takes about three to four days to deposit money into Cryptonit and about the same amount of time to withdraw the money. That means it could take between six to eight days to complete a money transfer through Cryptonit.

Pros and Cons

Pros

  • Relatively low trading fees. You can transfer bitcoin through Cryptonit at a relatively lower rate than through other bitcoin platforms.

Cons

  • More steps to complete a transfer. The process can be more complicated than using other money transfer services. For example, you need to convert fiat currency to bitcoin, and your recipient needs to convert bitcoin back to fiat currency.
  • Potentially more fees. Because there are more steps involved, there are more spots where you might be charged fees.

What else can I trade with Cryptonit?

You can trade more than bitcoin on Cryptonit. Other cryptocurrencies available include litecoin, peercoin, feathercoin, namecoin and terracoin.

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