Cryptopia review

Cryptopia is a leading cryptocurrency exchange which is offering dedicated asset buying and selling services to the users. However, the exchange is based on the peer-to-peer model, unlike other crypto exchanges which involves a transaction to go through the exchange itself.

At Cryptopia each bit and pieces of trade are done directly with the help of other users. What comes as an important fact is that Cryptopia offers a dedicated marketplace which allows users to sell, buy or trader an array of items by making use of cryptocurrencies.

Thus, Cryptopia offers an innovative combination in the world of crypto. The exchange has created a dedicated and immersive cryptocurrency experience for enthusiasts around the world. Cryptopia is an all-in-one stop for news, information and of course, the trading.

Cryptopia located in Christchurch (New Zealand)

Cryptopia cryptocurrency exchange has been registered in New Zealand under the official name of Cryptopia Limited. You should know that Cryptopia is a completely legit platform which has been registered with the Government of New Zealand. According to official documents, the exchange was registered in the month of July in the fiscal year 2014. Stressing upon the official registration information, Cryptopia has been recognized as a software development service. However, the platform doesn’t have any claims which can associate it with a financial service.

History on Cryptopia

Evolving from just a two-man team in the initial days of 2014, the platform has paved its way to the top. Cryptopia usually ranks within the top 50 cryptocurrency exchanges around the world. On January 8 of the current fiscal year, Cryptopia’s daily trading volume stood at $280 million. Talking about the trading fees, the portal has a very straight-forward fee structure. Cryptopia charges 0.2% fee on each and every trade you make. Thus, we can say the fees put Cryptopia on the lower-end of the exchange trading fees spectrum. When it comes to withdrawals, Cryptopia fees solely depends on the type of coin, this can be checked under the coin info page in the settings tab.

Cryptopia website features a dedicated and fully-optimized online shop where users with cryptocurrency can buy gift cards, headphones and even a car & much more. One of the features on Cryptopia is that users on this platform can transfer Bitcoin (BTC) as well as other cryptocurrencies to each other, free of charge. An auction can be set up on the platform by users which can further enable them to turn their cryptocurrency into real items as well as services. Since the exchange’s model is P2P, you’re trading and purchasing directly from other users.

Users like the Arbitrage feature at Cryptopia. With Arbitrage, a user will be able to see the prices of cryptocurrencies listed on other exchanges. Thus, Cryptopia is enabling the people to make informed decisions and is providing them value for money listings factor. In a matter of a few clicks, a user can easily compare both ‘Bid’ as well as the ‘Ask’ price from an array of websites. Cryptopia also offers Paytopia which is an easy place to access and buy the features & products provided by the crypto portal. You can even get your hands on their per-month subscriptions. Users should know that Cryptopia has a coin info page which provides around the clock updated information about the leading cryptocurrencies and other 500 altcoins.

Cryptopia’s team

Adam Clark is the founder and chief technology officer (CTO) of the leading cryptocurrency platform Cryptopia. Robert Dawson is the Director and co-founder of the platform. The Director of Cryptopia has worked with Telgogis, Blackbay and TeipleHeXXX Industries earlier. Robert Dawson had held roles like Customer Support Engineer. While Adam Clark has worked at Tradesatoshi, ChainStack, Intranel as Senior Software Developer.

How to trade on Cryptopia?

The prime step is to fund your Cryptopia account. The process is simple, just log in to your Cryptopia account and you ’ll see a Bitcoin (BTC) symbol next to your username, click on this. Once you’re through you will be able to see ‘Deposit’ option in the menu. As soon as you click, the user will be taken to the page where he/she will be able to choose an altcoin. The system will further generate a one-time deposit address and you can send the money there.

Once you have a funded account, you can start the trading. If you wish to begin a trade, simply stroll over to the ‘Exchange’ tab of the website. There you will be able to see the ‘Markets’ tab on the left side of the screen. Here the user can enter the respective pairs related queries in the search box. From here, a crypto trader will be able to see the current orders which match with your picked trade pair and further you can execute the order.

Cryptopia’s dashboard is a bit cluttered. A user can see a searchable list of markets and 24-hour update of every market too. You can also see the top markets ranked where the comparison is made on the basis of their trading volume for each currency. Also when we talk about the available cryptocurrencies, Cryptopia supports hundreds of cryptocurrencies, some of the most famous trading pairs are with Tether (USDT), Nzed (NZDT), Bitcoin (BTC), LiteCoin (LTC) and Dogecoin (DOGE).

Also, the other noting feature about the Cryptopia is the rewards. The platform has a dedicated reward bot which will reward you whenever you make use of Cryptopia and complete a set of transactions or actions. The reward scheme encompasses random amounts of random coins. Users are required to finish the series of tasks within a specified timeframe. Some of these actions include inserting mining shares, voting, finding blocks, chatting, tipping as well as trading. Users can even get access to the reward history for a better accountability and transparency with the process-oriented progress.

Apps

As of now, there is no official existence of smartphone applications by Cryptopia. However, last year the company tweeted that they are developing the mobile website as well as applications.

Create an account on Cryptopia

Creating the account on Cryptopia is incredibly easy. If you’re interested to trade on Cryptopia, a user is required to fill the registration form on their website. After the successful completion of the form filling process, you’ll have to verify at least your email id. Users should take note that if they verify their email address information, they will be eligible for a daily withdrawal as well as transfer limit of $5,000 USD. The next step is the stage two verification. Under this, a user will have to provide his/her ID, full name, self-photograph with the ID & address. After the second tier verification, you can get access to a transfer limit of $50,000 USD on a daily basis.

The third stage of verification process involves a user to provide a written statement why he/she requires a higher transaction limit? Apart from the self-declaration, you’ll be required to provide a proof of your address. Your picture with the Cryptopia username handwritten is also required. Upon the successful completion of the third stage of verification, users can have a daily transaction limit of over $500,000 USD. You will be told to enable two-factor authentication when you fulfil the third tier verification. As long as your account is verified, you can use your account from anywhere in the world. One should note that the fiat currency which the platform uses is just New Zealand dollars and therefore, transfers are required to be made through a New Zealand bank account.

KYC

Apart from all the operations, Cryptopia prioritizes identity verification and the process is done in three stages in a very transparent manner. As mentioned above, users are required to verify their accounts in several stages as per their regular transaction limit requirement.

Security

Cryptopia is considered to be safe in lieu of the facts that the platform will not distribute your personal information. The crypto exchange makes use of HTTPS security certificate and wherever you go, you can see verification captchas. Hence, it can be said that the probability of happening of any DDOS attack is very less. Also, when you set the password, the platform forces you to set a strong one. Integrity and the security of the platform are dedicated. Also, what comes as a noting fact is that for a user’s own security, two-factor authentication is available which provides an additional security layer. Till now Cryptopia hasn’t been subjected to any potential hack but online forums are full of complaints regarding an array of hacking attempts.

Conclusion on Cryptopia’s review

The platform has an availability of a lot of altcoins and online marketplace too, this makes Cryptopia different and unique than others. In a nutshell, if you’re used to dealing with streamlined and complicated software, Cryptopia might not be the place for you. Trades here are simple and are not usually meant for big crypto players. Talking about the Cryptopia customer support, the connectivity is easy. You can contact the customer service through the chat program, various forums as well as their Twitter social media account. One can generate and send support tickets pertaining to specific issues with added ease.