Tokens24.com is your single stop for crypto

Cryptopia Exchange: The Complete Guide

Trading

Cryptopia is an all-purpose, peer-to-peer exchange platform that is based in New Zealand. The company’s platform serves multiple functions: as a trading platform, cryptocurrency exchange, and marketplace. This means that users can buy, sell, and trade just about anything using digital currencies. Its all-around nature makes Cryptopia the ideal platform for individuals who are looking buy or sell any item with cryptocurrency, buy or sell existing digital coins, or trade another coin that they just created.

Users can purchase cryptocurrencies at going market prices and sell them at a profit. Clients can also look through sale listings and use cryptocurrency to buy items such as headphones or gift cards, as the exchange offers a fully-functional online shop where they can make purchases using cryptocurrency.

In addition, Cryptopia clients can transfer tokens to other users at no charge. This is because the process passes through Cryptopia instead of the blockchain. Cryptopia’s peer-to-peer status makes it possible for adopters to purchase bitcoin and other cryptocurrencies from other users. The platform offers some features that clients might find helpful. These include:

Arbitrage

Cryptopia has an area where clients can see the prices of cryptocurrencies listed on other exchange platforms. This enables traders to make informed decisions when picking out listings.  

Coin info

This feature serves up current information on over 500 altcoins which are being exchanged on the Cryptopia platform.

Marketplace

This is the place where cryptocurrency exchange is held. Here, users can sell anything to anyone anywhere in the world. Individuals can buy or sell items at no charge, create an auction or well-arranged listing.

Paytopia

This refers to Cryptopia’s vast products and services. They consist numerous promotional tools that users can utilize with their listings. The tools are paid for on a monthly basis using Dotcoin.

Mineshaft

Mineshaft is Cryptopia’s own mining platform. The system is built to work with several digital currencies and offers support for numerous miners, including those who specialize in the use of CPU or GPU, ASIC masters, etc.

Lottery

Cryptopia offers a lottery where users can take part in and win on a daily or monthly basis. Prizes are won for placing first, second, and third.  

Note: the platform does not support margin trading.

The Cryptopia Platform

Cryptopia offers a number of platforms that you use to execute trading activities. The systems provided include:

Web-based Platform

Cryptopia’s web-based application is an okay trading platform that allows you to carry out your trading activities without any hindrance even though it can be complicated to deal with. The platform offers a charting package that although not impressive, should be able to allow you trade without many issues.

It should help with your decision making, especially if you are the type that refers to charts before making any trading decisions. The order book and order placement modules are okay but have been placed somewhat awkwardly. Overall, the platform works fine and shouldn’t give you any problems.

 

Mobile Platform

Traders like to use a mobile platform that allows them to access their account and trade on the go. Unfortunately, Cryptopia has no mobile app. You should avoid using the Cryptopia app on the Google Play Store, as it is a third party program that requires your login and password. For security reasons, we would recommend that users stick to the web-based platform for now.

Assets Traded

Cryptopia offers traders some of the broadest selection of digital assets in the crypto world. It also supports fiat currency (New Zealand Dollars). The website supports more than 570 cryptocurrencies, some of which include:

  • Bitcoin
  • Dash
  • Ripple
  • Stratis
  • Bytecoin
  • Maidsafecoin
  • Ethereum
  • Monero
  • Namecoin
  • Nubits
  • Litecoin
  • NEO
  • Verge
  • Electroneum
  • OrmeusCoin
  • Wincoin
  • Revain
  • Bitcoin Cash
  • LitecoinPlus
  • UniversalCurrency

Cryptopia Fees

Cryptopia’s market-trade fee is fixed at 0.20 percent for every trade. With withdrawal, you will be charged transfer fees if you are withdrawing New Zealand Dollars or cryptocurrencies from your Cryptopia account. Withdrawal fee depends on the blockchain you use. Also, you will be charged fees for transferring digital currency to another wallet. The fee charged depends on the asset being transferred, among other factors. However, you won’t be charged any fees for transferring altcoins to other users on the Cryptopia platform.

Deposits and Withdrawals

If you want to make payments using fiat currency, you will need to do so from a New Zealand bank account, which is done by requesting a transfer manually. Not being comfortable using this method, you can use your cryptocurrency wallets to make deposits and withdrawals.

If you are withdrawing or depositing NZD, it could take several days for your transfers to be confirmed, depending on several factors. These include the time of day you submit the transfer request, how soon your transaction is approved, as well as how busy the network is at the time of your submission.

Transfers involving cryptocurrencies are confirmed in a matter of minutes depending on the digital currency being sent and whether or not the network is busy.

Security

Cryptopia uses an HTTPS security certificate to ensure the safety of client data on the site. Nevertheless, it is crucial to understand that no information sent online is 100 percent safe from hackers. As with every exchange platform, Cryptopia faces a hacking risk. Therefore, it is recommended that you do not keep a large portion of your funds on the platform unless you absolutely have to. As a result, users should make conscientious efforts to improve the security of their account.

The company makes it easy for you to do so, as it offers a 2-factor verification (2FA) which you can use to improve the security of your account and funds. The company also requires clients to use strong passwords. Cryptopia’s large customer base inspires confidence in their legitimacy, serving as a good indication that they take security seriously.

Limits

Cryptopia limits the amount that can be withdrawn or transferred on the platform depending on your level of verification. The various verification levels and the caps include:

Stage 1

This stage requires you to verify only your email address, after which you can transfer or withdraw a maximum of NZ$5,000 per day.

Stage 2

To be on this level, users will need to provide their name, address, a means of identification, as well as a picture of themselves holding their ID aloft. Meeting these requirements will raise a trader’s daily limit to NZ$50,000.

Stage 3

Having provided all the required items above, you’ll also need to provide a proof of your address, a picture of a piece of paper with your Cryptopia moniker written on the paper by hand, as well as a written statement describing why you want your limit raised from NZ50,000 to have the daily limit increased. If successful, the application will see your daily limit raised to NZ$500,000. You will need to enable the two-factor authentication for this account.

Supported Countries

The Cryptopia exchange accepts traders from all countries, provided they have a verified account. However, it is crucial to bear in mind that the platform only supports the New Zealand Dollars (NZD). In addition, bank transfers can only be made from New Zealand bank accounts.

Therefore, you can only deposit the New Zealand Dollars and do so from New Zealand if you must make payments using fiat currency. But if you are going to be using cryptocurrency, then you can use the exchange from any location in the world without any worries.

Customer Support

Any organization that is serious about making headway in the world of finance must learn to respect and put the customer first. It looks like Cryptopia understands this basic requirement.

From all indications, the company is a serious entity with a dedicated customer support team that works to provide top-notch client support services to its users. The firm uses a variety of means to deliver support to their clients such as: 

Ticket

Clients can log in to their account and create a support ticket concerning any issues they may be facing.

Email

Customers can write to the company’s customer support team via email at support@cryptopia.co.nz.

FAQ

Cryptopia has an FAQ page that could answer any questions you may have in mind. The company, in its bid to relieve some of the burdens on its customer support staff, designed a knowledge base page that creates exceptional value for clients by helping them find answers to the questions they often have in mind. You can visit their FAQ page by going to https://help.cryptopia.co.nz.  

Forum

The customer support team comb the forum to answer questions or respond to issues raised by customers who openly complain about the problems they are facing with the platform.

Social Media

Besides the conventional methods outlined above, Cryptopia clients can reach the organization through their various social media accounts.

Twitter

Follow the company and message their complaints by visiting https://twitter.com/Cryptopia_NZ.

Facebook

Send a message to the firm or follow them on Facebook at https://www.facebook.com/cryptopiaexchange.  

LinkedIn

Follow the company on LinkedIn by visiting https://www.linkedin.com/company/cryptopia-limited/.

Conclusion

Cryptopia is an excellent cryptocurrency exchange platform by any yardstick. It lets its clients send and receive digital currencies from other users at no charge. It also offers a broad array of products and services, among other benefits that add to the user experience.

The major downside of this exchange is that you can only use the New Zealand Dollars to make fiat currency transfers. Then there is the issue about the lack of sophisticated trading features.  

Leave a Reply

Please Login to comment

Newsletter

Community

Tags