Pros & Cons
- The number of altcoins available to buy and sell
- Fee’s are reasonable and is on the low end compared to most crypto exchanges
- Customer support is quick to respond
- Great arbitrage tool
- Coininfo page provides information at your fingertips
- Chance of winning the lottery everyday
- User interface not the most simplistic
- Ethereum not supported
- Not one of the biggest exchange platforms in terms of trading volume
Our Expert Rating
Average User Rating
- Easy market place for convenient and quick trading
- Exclusive mining platform designed for different types of cryptocurrencies
- Over 400 crypto coins supported for trading
- Daily lottery winners awarded cryptocurrencies
- Vast and useful Coininfo page lists and details everything you need to know about all the altcoins
- Website also has an Arbitrage section where you can view potential arbitrage opportunities across the world wide web
- Country Where Cryptopia is Based
- CRYPTOPIA LIMITED (5392901)
6 Dennitt Street,
Christchurch, 8083, New Zealand
- July, 2014
- Available Currencies
- 400+ tradeable altcoins available
- usually 0.20% of the total value of your transaction
- Deposit Methods
- Withdrawal Methods
Cryptopia Crypto Exchange – An overview
Based out of Christchurch in New Zealand, Cryptopia is a crypto currency exchange platform which allows traders to buy and sell crypto currencies of their choice. The website supports a massive 400+ cryptocurrencies which you will be hard pressed to find in most other crypto currency exchange platforms. This exchange was founded in the July of 2014 by Adam Clark and Rob Dawson. The company is registered in New Zealand at the address – CRYPTOPIA LIMITED (5392901), 6 Dennitt Street, New Brighton, Christchurch, 8083, New Zealand.
This cryptocurrency exchange is available to players all over the world, however, in terms of regulations and laws, it complies with the legislation of New Zealand only. It is estimated that approximately 600 Bitcoins are traded on this exchange on a daily basis. In terms of trading volume, this is on the lower end of the spectrum for a crypto currency exchange that is available word wide.
Supposedly, Cryptopia recently also released their own cryptocurrency (NZDT) and the value of this altcoin was matched with the NZD (New Zealand Dollar) at the time of the initial coin offering. This exchange is most well known not for their trading volume, but for the many different altcoins that it supports. Therefore, for traders who are looking to buy or sell crypto currencies which are not highly popular, Cryptopia is one of the go to exchange websites. However, Ethereum, which is a well to do and stable crypto currency is not supported at Cryptopia at this time for some unknown reason.
Another thing you need to be mindful about when it comes to Cryptopia is that it is not only an exchange website, Cryptopia is also a mining platform, a marketplace, a cryptocurrency knowledge repository and also offers a handy and effective Arbitrage tool.
Why Cryptopia is in the CoinTrust Trust list
One of the main concerns that users have when it comes to crypto currency exchanges is that the website maybe a scam website which will swindle your money away. However, Cryptopia is a tried and tested crypto exchange that has been in the market since 2014 and has hundreds of thousands of registered users and sees about 600 BTC worth of trading volume on a daily basis.
In terms of the privacy and security of user information, Cryptopia have taken all necessary measures to ensure that your information is kept secure and private. Personal information is collected only when knowingly and voluntarily submitted by the user and the any such information is used for and only for the intents as mentioned exclusively and maybe for some secondary purposes that are related to the primary reason itself.
The company is registered in New Zealand and they have been transparent in terms of their ownership, founders and even their registered business number so you can look them up and verify everything first hand.
Fee structure at Cryptopia
Cryptopia has a fixed trading percentage as their trading fee. It is 0.20% of the total amount of bitcoin or whichever other cryptocurrency that you choose to pay with. Apart from being a trading market place and a crypto exchange for altcoins, Cryptopia also has an inbuilt wallet out of the box where you can deposit and withdraw cryptocurrency. If you were to withdraw funds from the said wallet, then too there would be some fees involved. However, for deposits into your crypto wallet, there will be no fee levied. In order to make a deposit you can just click on the deposit link within your account page and you will be provided with an address to which you can make the deposit or share with the party making the deposit. For the most part, trading is quite simple and straight forward.
Security and two – factor authentication at Cryptopia
Cryptopia happens to be one of the few online crypto exchanges that has not been victim of a cyber – attack. They take their security seriously, not only do they employ the latest and greatest in encryption technology, but also encourage their users to setup and use two – factor authentication. Two – factor authentication is wherein users will be verified before being given access through user credentials (user name and password) and then a code will be sent to them on their device (usually their registered mobile) which acts as a second layer of protection in case of stolen or compromised credentials. This way, even if a cyber attacker is able to get hold of your user credentials, he or she will not be able to access your account since they will be required to input a second verification code in order to get in.
If you are looking to setup two – factor authentication, it is pretty simple. All you need to do is login to your account, click or mouse hover over the username on the top left of the screen and then click on settings, select security settings, and then select two – factor authentication. You can really enhance the effectiveness of your two – factor authentication by putting to use Google authenticator. Furthermore, I would highly recommend that you turn on the notification for withdrawals so that you receive an email notification every time a withdrawal is made, so in case of any unauthorized withdrawal from your wallet, you are notified immediately and can contact customer service to take action right away.
Some of the features at Cryptopia
- The Market place –not only can you trade crypto currencies for other crypto currencies at Cryptopia, but you can also go ahead and trade services and goods for cryptocurrencies. This is like an e-commerce site where instead of using regular currency, you have the option of using cryptocurrency. Furthermore, you may also setup auctions, and private listings at the market place at Cryptopia. It really is more than just a crypto exchange.
- Mineshaft –Mineshaft is the term used to refer to the mining platform native to Cryptopia. This is a pretty flexible and dynamic mining platform which supports all types of miners from simple single user – single machine miners to full fledged ASIC veterans.
- Exchange – This is really the part that most users sign up for and use. The exchange at Cryptopia is simple to use, the interface is user friendly and intuitive. Further, you may use the exchange as a platform to pay bills too. Apart from being well known for supporting a lot of rarer crypto currencies or altcoins, Cryptopia also has a commendable trading volume and the exchange is, on average, listed anywhere between the top 50 – 60 exchanges in terms of trading volume in the world.
- Lottery –Cryptopia encompasses a daily lottery to keep things interesting. Three lucky winners will be awarded first, second and third everyday and prizes may vary from one day to the next. It usually a small amount of crypto coins.
- Coininfo –The Coininfo page hosted within the Cryptopia website is extremely useful in terms of giving users a holistic insight into the trends, information on all of the listed altcoins which includes the algorithm powering the altcoin, the network, the blockchain and general user rating for that altcoin. The Coininfo page is a great way to learn and understand the different altcoins. It helps a great deal when it comes to making decisions on what coins to buy, what to sell and how to make trade deals that are profitable in the short run and the long run.
- Arbitrage –Much like the Coininfo page, the Arbitrage section of the Cryptopia website is extremely useful as well. It gives you first hand information regarding what coins are at what prices on several different exchange platforms and allows you the opportunity to make the most of these price differences to make a profitable trade. The information is presented in a table that you can read easily and quickly to get a complete idea in a short amount of time.
- Rewards program –Cryptopia give back to their loyal customers with the use of a rewards bot. There are different coin allocations for different actions that a user may take on the exchange platform. However, there is no sure shot way of securing a reward and there is an element of luck involved, essentially if a certain action is performed or executed within a given time frame which is not made known to the users, then the user will be rewarded a small percentage of the trade amount. Actions typically include mining shares, finding blocks, tipping, voting and chatting.
Cryptopia customer service
In my experience, the customer support network at Cryptopia have been professional, quick to respond and helpful. They are well trained professionals that follow procedures. Customer support was able to answer my queries in detail. The website has an extensive FAQ section which is probably the quickest way to find a solution to a problem or concern you may have. There is a support tab where you can fill out a ticket and submit it, it involves choosing the category of the issue and writing a short description of the issue being faced. There is also an active forum which is well categorized and you can simply post your question there, and can expect to be responded to in a matter of hours or days at the most.
If you would like to get in touch with the customer service department via phone for any pressing issues then you can reach out to them on +64 21 669851
Overall, Cryptopia is much more than just a cryptocurrency exchange website. It is a great platform for all types of traders and all experience levels. It gives you unique and useful insight and helps you make better decision when it comes to buying and selling. The fees are nominal, the customer service is well rounded and timely, the user interface is simple and easy to use, there are over 400 altcoins supported, the site has a rewards and a lottery program to keep users engaged and importantly, the website is secure and has never been victim of a cyber-attack.
This is a legitimate, licensed crypto exchange which is a winner in my book. I would recommend Cryptopia to anyone interested in trading crypto currencies.
David is a forex trader and writer who has spent the last few years giving his opinion and spreading news about oncoming markets and trading tips. Besides from being a trader he is also a lifelong Everton fan and enjoys spending free time watching his beloved team in the premier league.