Cryptocurrencies

Kriptomat: easily buy your first Bitcoin (BTC)

Warning : This article is brought to you by the company Kriptomat. Crypto investments are risky by nature, do your own research and invest only within the limits of your financial capacity. This article does not constitute an investment incentive.


Introducing Kriptomat

Kritpomat logo

The company is quite recent, it was founded in 2018 by Srdjan Mahmutovich and is based in Estonie.

After its launch, Kriptomat planned to raise funds via a security token offering (STO) in 2019. However, the funding round was canceled due to issues with their securities issuing partner, and all funds were returned to investors..

It is based on the values ​​of trust and transparency.

To do this, she has obtained several licenses and accreditations such as the international standard ISO / IEC 27001: 2013.This standard ensures that the company implements secure information security practices.

It also respects the principles of the General Data Protection Regulation (GDPR).

Furthermore, Kriptomat applies numerous organizational measures in order to preserve the security of sensitive data and funds of its users. Note, among other things, the storage of 98% of assets on hardware wallets and protection against DDOS attacks.
Dedicated teams constantly monitor cryptocurrency exchanges to identify suspicious transactions and ensure the platform is functioning properly in order to correct bugs as quickly as possible.

All these elements are likely to reassure potential customers.

There is one last thing to mention when it comes to security. If you don’t want to rely on the platform and have control over your cryptos, it is recommended that you get a reliable Ledger or Trezor type cryptocurrency wallet. Now let’s move on to practice.

Beforehand, you should know that this platform is a centralized market. You will therefore need to pass identity verification and submit official documents. In other words, you will be entitled to a proper KYC / AML procedure !

We will talk about it again at the appropriate time.

First, go to the kriptomat.io website. You will be pleasantly surprised by discovering the‘interface translated into French. It is also available in 23 languages.

You will then click on one of the two buttons “Register” present on the home page.

A window will open to display the form. You can then start your registration.

Kriptomat interface

You will indicate:

  • Your first and last name
  • Your best email address
  • A strong password

A few tips: Avoid the classic combination of your city and your date of birth. Instead, use a password generator to create a unique one made up of uppercase, lowercase letters, numbers, and special characters..

Write it down carefully on a piece of paper or notebook that you keep in a safe place.

If your browser offers to save it, resist the call for ease. It is very convenient but not at all secure if someone with malicious intent is accessing your computer.

You should realize that you are responsible for your account and the money you are going to put in it. It is up to you to ensure its security yourself.

Once this has been done, check the box attesting that you are of legal age and click on the blue button “Create an account”.

Verification of your e-mail address

Another window will open asking you to view the email the site sent you and click on the link to verify your address. This is to make sure that it is valid, active, and that you can access it. Remember to check your spam emails as well as the promotions tab if the message does not appear in the main inbox.

Kriptomat email verification

Normally, you are back on the site to continue with the registration.

Checking your mobile number

You will now enter your mobile phone number to link it to your account.

It is a native security measure that Kriptomat offers. The 2-step verification system adds an extra layer of protection.

On each connection attempt and when you make a transaction, the site will send you a code by SMS that you will have to type in the dedicated field to access your account.. In principle, you are the only one to know your identifiers and to be in possession of your mobile at the same time. It is the combination of these elements that allows you to connect.

It will sometimes be necessary to be patient or even ask for a new code to be sent if it does not arrive within a few minutes.

However, if you are out of network coverage, you will not receive the text. In addition, malicious techniques can divert text messages to another device.

You can, if you wish, use a dual-factor authentication application such as Authy or Duo Mobile to mitigate these risks..

2fa kriptomat

It is important to specify that you must successfully complete all of these verification steps to carry out transactions on your account. Without it, you won’t even be able to deposit any money.

It sounds tedious to do, but these steps only take a few minutes if you have everything at your fingertips.

Note that this part of the registration for Kriptomat is handled by SumSub.

So we move on to identity verification. As a regulated platform, Kriptomat must ensure that you do not use an assumed name or false documents to register. This is the famous Know Your Customer or KYC measure.

Click on “Proof of identity” on your dashboard and confirm the warning.

You will then choose the document you are going to download to submit for verification. If you opt for the identity card, you will need to upload a file for the front and one for the back.

Kriptomat KYC

The last step is to take a selfie.

If all these elements are validated, you can now interact on the platform.

If you have any concerns, email support or use the support chat to get help faster.

Follow the next steps to transfer your first euros.

Click on the button “Deposit” at the top right next to your name.

Choose Bank transfer / SEPA.

Select the Kriptomat bank account from the drop-down menu.

You will see all the necessary SEPA payment details, including transfer and recipient data. Remember to include the reference number on your transfer information.

Important, the name of the owner of the bank account must be the same as the name of your Kriptomat account.

Validate the transaction on your bank’s website.

Click on “I made a deposit”.

You will be notified by email and sms upon receipt of funds.

Note that Kriptomat does not charge a fee for this deposit mode, but your bank may.

What payment methods are accepted on Kriptomat?

For the direct purchase of cryptocurrencies you can use the following means:

  • MasterCard or Visa credit card on condition that it supports 3D Secure so yes you can pay with your N26 card but not with Revolut.
  • Skrill Buy
  • Neteller Buy
  • Sofort Deposit
Kriptomat payment method

Select the cryptocurrency you want to buy and choose payment by credit card.

Enter the amount in euros or in the cryptocurrency you want to acquire.

Fill in your card information:

  • Your name
  • Card number
  • Expiration date
  • the CCV security code

Check the details of the transaction and, if everything looks correct, click “Pay”.

In principle you should be redirected to your bank’s site or application to confirm the purchase. You know, 3D Secure, strong authentication.

And There you go ! It’s very simple!

What other operations are available on Kriptomat?

You can trade cryptocurrencies on hundreds of trading pairs from Euro, Bitcoin, Ether and Tether.

Of course, you can sell your cryptos in exchange for Euros and collect your profits by SEPA transfer to your bank account.

What are the charges on Kriptomat?

Charges are applied for all these operations:

  • Buying and Selling Digital Assets in Exchange for Euros
  • Purchase by credit card and other payment methods
  • Withdrawal of cryptocurrencies

They are in the low average compared to the competition. For more details, see the page dedicated to fees and limits.

Fresh kriptomat

Earn interest on your cryptocurrencies thanks to Kriptomat

Since November 26, 2020, Kriptomat offers to earn you interest on 7 cryptocurrencies. To access this feature, your identity verification must be validated. Click on “Saving” in the menu.

Choose the asset you want to allocate to savings and click on the 3 vertical dots then on “invest”.

Interest will be paid to your account once a month.

The funds are not blocked. You can release them at any time if the market takes off.

Kriptomat is a gateway to the crypto ecosystem very well suited to a beginner audience. There, he will be able to carry out his first transactions and experiment with trading without being overwhelmed by the overwhelming choice of other platforms. It facilitates the direct purchase of cryptocurrencies in Fiat by integrating a payment platform in Euro and various payment methods. The interface is simple and allows easy navigation between the different features of the site. In addition, the company is putting in place substantial means to guarantee the security of its customers’ funds and data. The editorial staff recommends the service to anyone new to the ecosystem or looking for a simple and efficient service!

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