Bitkonan.com domicile country is Croatia and the exchange launched as early as in 2013. The cryptocurrencies you can trade here are limited to the following three: Bitcoin, Litecoin and Ethereum. This means that if you wish to trade any other cryptocurrency, that will not be possible for you here. To find another exchange where you can trade more cryptocurrencies, please refer to Cryptocurrency Exchange List.
Bitkonan.com does not explicitly prohibit US-investors from trading on its exchange. In any event, all US-investors should still analyze problems arising from their residency or citizenship themselves. In a worst case scenario, they are still prohibited from trading at one or several exchanges that could be the best cryptocurrency exchange site for them.
There is a standard verification requirement on Bitkonan. The registration process is very simple – the user simply puts the first and last name, as well as an email address in the fields. Then the confirmation email is sent to the address submitted by the user. The confirmation email contains a generic username and a password which is used to log in for the first time.
|| 0.002 BTC
How To Start With Bitkonan.com
To start trading with Bitkonan.com ,Indian residents first have to sign up for an account by following the steps below.
Step 1. Click on the “Login/Signup” link on the top right hand corner of the Bitkonan.com website.
Step 2. In the form, fill in your first name, last name, mobile number, email ID and password.
Step 3. If you have a referral code, enter the code while creating your account.
Step 4. Submit the form and wait for an activation email to be sent to you.
Step 5. Click on the “confirm email” link in the activation email.
Step 6. After your account is activated, you’ll be sent a 6 digit one time password (OTP), which you have to enter after logging into your Bitkonan.com account.
BitKonan Trading fees
Never forget to check the trading fees of an exchange you want to trade at. BitKonan’s trading fees for takers are 0.29%. This fee is slightly above the industry average which is around 0.25%. Please consider whether BitKonan has a strong offering to investors in other respects that outweighs the disadvantage of this somewhat higher trading fee. Note however that this exchange does not charge any fees for makers, thus promoting the liquidity at the exchange. This is a very strong competitive edge in the market and is especially beneficial for the investors not interested in picking up existing orders from the order book but rather prefers to “go fishing” with maker-orders. Maybe this condition even makes BitKonan the best cryptocurrency exchange site for you.
BitKonan Withdrawal fees
BitKonan charges a withdrawal fee amounting to 0.002 BTC when you withdraw BTC. This is in line with industry average.
BitKonan offers wire transfer as a deposit method, but you can’t deposit via credit cards. This might of course be disadvantageous if you prefer to use your credit card for any reason. You can also execute wire transfers through SEPA.
One of the major benefits of using BitKonan is that this exchange supports fiat currencies, and EUR and USD in particular. Deposits in Croatian Kuna (HRK) are automatically converted to USD. This basically means easy access to cryptocurrencies, which is usually appreciated by newcomers in the crypto-world.
Those users who just want to register and trade by providing simply an email, are able to do so at BitKonan, however they can only deposit, withdraw and trade cryptocurrencies. Otherwise, they need to verify.
BitKonan Security Analysis
Bitkonan doesn’t have any special security measures except two-factor authentication, and all of their funds are held in hot wallets. The trading platform hasn’t been hacked yet, and the hackers do not target it due to its low monthly volumes (~$60,000). The exchange has email notifications, but there are no SMS notifications, and PGP encryption isn’t used in email communication.
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