Looking for a Cryptopia Review? You’re in the right place. Today we are looking at Cryptopia cryptocurrency exchange and we are going to share our full review. If you’re wondering whether it’s a scam or a legit company keep reading as we will reveal everything.
Cryptopia is a cryptocurrency exchange, which enables trading several digital properties (altcoins), much like Bittrex and Poloniex. That being stated, there are a lot of specifics concerning this company.
You can check them out here and create an account by clicking here.
Cryptopia is based in New Zealand and provides a lot more than just a crypto-exchange. While the trading conditions will be the primary focus of this review, their site also includes an online shop, where cryptocutrencies are the methods of exchange. This might not exactly be the next Silk Road, however a great deal of interesting products are up for sale for sure.
The company also provides entrance to the world of cryptocutrencies for New Zealanders. This is done by signing up a bank account with them. That being stated they do have a more worldwide focus, unlike Australia's CoinTree, for example.
Reviewing the online forum is an essential part of the Cryptopia experience. Even the FAQ area is offered as a link to the forums. Some users will dislike this, but others may enjoy belonging to a community.
There is a high variety of confirmations needed when depositing altcoins, 20 to be precise. Our experience with Bittrex revealed a Litrcoin transfer can take 10-15 minutes, with only 6 confirmations needed. That being said the times at Cryptopia my be very high (for a crypto-transfer that is).
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Trading instruments (cryptocurrencies)
A great deal of alternative digital properties are offered at Cryptopia. At the time of writing of this review, the complete list consisted of 536 altcoins. This even tops the offer provided by mnost other such platforms.
Trading is done versus Bitcoin, USDT, NZDT, LTC and DOGE.
Cryptopia does not support margin trading. This is by no means a bad thing, as this exchange has a focus on altcoins. Others, like GDAX use some type of utilize, although the ratios offered by exchanges are rather limited.
If you are aiming to speculate on the cost of significant cryptocurrencies, like Bitcoin, trading with a forex broke offering such a service, like IG is another option. That being stated, these companies usually use CFDs, instead of handling the actual coins. In case you are not knowledgeable about such monetary instruments…The brief version is that you will only win or lose based on the price swings of the given coin, but will not have the ability to make transfers over the blockchain with it.
The trading charges charged at Cryptopia are 0.20% of the volume of each trade. This remains in line with the present state of the crypto-competition, although one might potentially discover even lower fees.
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Cryptopia – Trading platform
The trading platform at Cryptopia feels a bit complex. It is by no means overly complex, but then again, we are used to dealing with a lot of trading software applications. A novice might not find this simple to grasp.
The instrument list is easily placed on the left. That being said, it is conveniently distributed. This box can be changed by a chat-box, also called the “Troll box”.
Cryptopia – Payment Methods
All traders at Cryptopia can make cryptocurrency transfers. On top of that, New Zealanders, who validate their identity can deposit funds by means of bank transfer. This is a great mix between an altcoin focused business and an entry-level service.
Cryptopia is a New Zealand based cryptocurrency exchange, which uses a great deal of altcoins and some other services, like an online shop where you can buy products. In addition, company offers New Zealanders a fairly easy access to the world of cryptocurrencies, through its banking service. After trying Cryptopia you will either enjoy it or dislike it. While this is primarily an exchange, the rest of the functionality is highly integrated. If you are used to working with streamlined software, this will most likely not be for you. On the other hand, if you like reviewing lots of online forums or Reddit posts, you might enjoy the community at Cryptopia. Here are the advantages and disadvantages.
- A lot of altcoins offered.
- Accepting fiat currency (from NZ).
- Competitive fees.
- Security concerns in the past.
- Banking just available to customers from New Zealand.
- A lot of verification required for altcoins (slow deposit times).
- Poor charting.
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