BitKonan Review & Ratings - Exchange Broker

BitKonan Review

Excellent trading platform
Competitive trading fees
Viable reputation

Limited array of crypto assets
Poor customer support

BitKonan is a cryptocurrency exchange that was established in 2013 by a dedicated team of cryptocurrency enthusiasts. The BitKonan crypto exchange was one of the first cryptocurrency exchanges to bring advanced order management to the volatile Bitcoin industry and continues to excel in their crypto exchange services. The BitKonan exchange is based out of Croatia with their headquarters located at Put Plokita 87, Split, Croatia. The exchange is not yet regulated, much like the rest of the cryptocurrency industry, but they have been competently providing reliable crypto exchange services for about 5 years now. BitKonan is an international cryptocurrency exchange that accepts traders from all around the world. However, their primary customer base is of European descent and are primarily from Croatia and other South-Eastern European countries. While BitKonan is not the most popular or widely used cryptocurrency exchange, could they be a viable crypto exchange for you? Find out in our in-depth review where we analyze all aspects of the BitKonan crypto exchange and discover if they are right for you.

Trading Platform

The BitKonan crypto exchange trading platform is exceptional in comparison with many of the crypto trading platforms out there today. The platform is a proprietary web based trading platform that has been intuitively designed to accommodate the needs of both beginners and experienced cryptocurrency traders. The trading platform interface is very well organized and features everything you need all in one trading screen interface. Traders have access to a simple charting package with a variety of time frames, an order window with three different order types including market, limit, and stop-limit orders, a chat box where traders can interact with one another, a market depth window of buy and sell orders, a trade history window, and an open orders window. While this is a lot to pack into one single trading interface, BitKonan does an excellent job at keeping it neat and tidy. The overall trading platform handles very smoothly and features lightning fast execution speeds and deep liquidity. All in all, we were very impressed with the BitKonan crypto exchange trading platform and wish that more cryptocurrency platforms were built with such elegance and functionality. The only unfortunate aspect of the BitKonan trading platform is that it’s not available on mobile devices. Other than that, we were very satisfied with the BitKonan trading platform.

Exchange Markets

BitKonan features a very narrow array of cryptocurrency assets and is rather somewhat old school in that sense. The cryptocurrencies available to trade at BitKonan include Bitcoin (BTC) and Litecoin (LTC), which are two of the oldest and most popular cryptocurrencies available today. Both Bitcoin (BTC) and Litecoin (LTC) are traded against the US Dollar (USD). However, BitKonan users can deposit and withdraw multiple different types of fiat currencies, most popular being US Dollars (USD), Euros (EUR), and Croatian Kuna’s (HRK). Upon depositing funds to your BitKonan trading account, the currency you deposit will automatically be converted to US Dollars (USD), unless of course the depositing currency is already USD. Traders cannot trade Bitcoin (BTC) and Litecoin (LTC) against each other, only against the US Dollar (USD). While the cryptocurrency markets offered are rather limited, the crypto assets available to trade are two of the most popular and highly liquid assets available.

Fees and Commission

BitKonan imposes very fair and transparent fees and commissions on their traders. Traders can easily review all of the associated fees on the BitKonan website, and the trading fees are also stated upon making a trade. For trading fees, the exchange imposes only a trade fee rather than a different maker and taker fee. The fee for each trade is 0.29% of the trade amount and all minimum buy orders must be a minimum of $3.00 USD and all sell orders must be a minimum of 0.0005 BTC or 0.02 LTC. As for deposit and withdrawal fees, Bitcoin and Litecoin deposits are free and their withdrawal fees are 0.0005 BTC or 0.0005 LTC. As for fiat currency deposits and withdrawals, NKS Croatia KUNA deposits and withdrawals are fee and both SWIFT and SEPA Bank Wire Transfers incur fees of 10.00 USD or 10.00 EUR for deposits and withdrawals.

Security and Fairness

BitKonan is a relatively safe, secure, and fair cryptocurrency exchange with an excellent reputation and great track record. The exchange was first established in 2013 and has thus far provided reliable trading services with zero hacks or fraudulent practices. BitKonan utilizes two factor authentication for logging in and making withdrawals on each account as well as passwords for logging in. Other than that, BitKonan does not mention any other security measures that they implement. One unfortunate aspect about BitKonan is that the Bitcoin and Litecoin held by the exchange are held online in hot wallets. Therefore, they are susceptible to hacking attempts and less secure than hardware wallets. However, BitKonan does monitor their exchange for possible hacking attempts 24/7.

Support

The customer support provided by BitKonan is only mediocre as customers can only contact support via email and skype. The hours in which support can be reached is not stated, but it is said that customers receive support within 12-24 hours on average. Additionally, customers have access to a comprehensive FAQ page.

Conclusion

The BitKonan cryptocurrency exchange is a Croatian based exchange that’s excellent for the trading of Bitcoin (BTC) and Litecoin (LTC). The exchange has a viable reputation and provides traders with an intuitive and advanced cryptocurrency trading platform. Traders benefit from reasonable trading fees, especially for Croatian traders and the trading platform has thus far proven to be safe and secure. All in all, BitKonan is a great cryptocurrency exchange for Croatian traders and traders from around the world.