Cryptopia Exchange Review

Cryptopia Exchange

November 15, 2018 by BestBitcoinExchange

Based in New Zealand but serving traders around the world, Cryptopia Exchange now claims to have more than two million users trading on a peer-to-peer basis. As a company, Cryptopia was incorporated in 2014 but the site itself only really started to gain prominence in 2017.

Buoyed by the Bitcoin (BTC) boom of 2017, Cryptopia saw an influx of customers from the UK, Australia, the US and beyond. In fact, given the surge of interest, Cryptopia Exchange was forced to go offline for a brief period in 2018 and redevelop its site. The end result was a slicker system that’s now open to traders in 195 countries.

cryptopia home

Today, the Cryptopia coin listing is among the largest in the industry. What’s more, this operator has carved out a niche as an altcoin destination. As well as Bitcoin and other major altcoins, Cryptopia Exchange often lists new digital tokens before other exchanges. To give you more of an insight into what this trading platform has to offer, take a read of our Cryptopia review.

 

Available Cryptocurrencies at Cryptopia Exchange

As we’ve said, the Cryptopia coin listing is among the most extensive out there. To draw a comparison to one of our top-rated cryptocurrency exchanges, this site is similar to Binance. As well as offering simple peer-to-peer trading, the list of available coins is similar. However, as you’ll note from our Binance review, the main difference is the deposit process. Although the listings are similar, Cryptopia Exchange allows you to deposit in fiat if you live in New Zealand. For customers in other countries, payments are made in cryptos (as they are at Binance). However, by offering provisions for fiat deposits on at least some level, Cryptopia does have an extra selling point.

Beyond its payment options, the feature worth noting in this Cryptopia review is that the list of tradable assets is always evolving. As we’ve said, this site endeavours to offer emerging altcoins before other exchanges. In 2018, two of the most popular new listings were Tron (TRX) and Electroneum (ETN). By listing these before many of its peers, Cryptopia was able to gain some market share and grow its customer base. Interestingly, as the company has grown, those in charge have learned that bigger isn’t always better.

Following an October 2018 revamp, the Cryptopia coin listing was reduced in size. In its haste to offer as many new cryptos as possible, the site ran into reliability issues. To improve the user experience, 70 unpopular or inactive tokens were delisted in late 2018. Despite cutting that many cryptocurrencies, the Cryptopia coin list is still one of the most comprehensive you’ll see. Although we don’t have space in this Cryptopia review to list every available coin, some of the main ones include:

-  Bitcoin (BTC)
-  Dash (DASH)
-  Verge (XVG)
-  Ethereum (ETH)
-  Monero (XMR)
-  Trinity (TTY)


How Secure is Cryptopia Exchange?

If you read our eToro exchange review, you’ll see that it’s regulated by the Financial Conduct Authority (FCA). Being a traditional online trading platform that offers CFDs on forex and other tradable assets, this type of oversight is considered essential. In contrast, because cryptocurrency trading is so new, the same regulatory oversight isn’t available for sites like Cryptopia Exchange. Despite not having a licence from the FCA, Cryptopia is still a safe place to trade Bitcoin et al.

As a standard, you’ll get two-factor authentication on your account. This means you’ll need to input a unique, dynamic six-digit code as well as your password each time you want to login. Additionally, because Cryptopia Exchange is incorporated in New Zealand, it’s bound by local business laws. Although these aren’t as specific to the trading world as other laws, they do require the company to act responsibly and operate using ethical business practices.

The final layer of protection working in your favour is the fact everything is handled in cryptocurrencies (unless you’re able to deposit in NZD). The decentralised, anonymous nature of digital tokens such as BTC and LTC mean that you’re safe each time you make a deposit, trade or withdrawal.

Cryptopia Exchange Fees

Being a peer-to-peer exchange, Cryptopia doesn’t offer margin trading or a myriad of account options. In practice, this means you’re basically trading X coin for Y coin with someone else on the exchange. The benefit of this is that everything is easier to understand. After joining the site, you’ll be able to make a deposit, scroll through the Cryptopia coin listing and hit the buy button. This simplicity is why this platform is accessible to all traders. In line with this, the fee structure is easy to understand:

Trade Fee = 0.2% the value of your trade

Withdrawal Fee = Static fees differ for each coin. The exact withdrawal fee can fluctuate based on the average cost of a single transaction on the coin’s associated blockchain.

 

How User-Friendly is Cryptopia Exchange?

If we were writing this Cryptopia review in 2017, this section would be a lot more negative. After growing faster than expected, Cryptopia became unstable and slow. Fortunately, the developers have completely overhauled the interface and addressed many of the glitches that made it almost unusable at times. If there’s one criticism that still exists, it’s that the interface can look slightly daunting if you’re a novice. Because the Cryptopia coin listing is packed with symbols and decimal points, it can be tough to find what you’re looking for.

Another knock on the user experience is the fact this company doesn’t offer a mobile app. With trading being able split-second timing, instant access is important. So, to see that the developers haven’t focused on improving access by creating a mobile app is somewhat disappointing. These facts aside, the revamped Cryptopia Exchange is fairly easy to use. Although a few more filters and less unnecessary information on the home page would be nice, it won’t take you too long to learn the ropes and start trading.

 

How to Join Cryptopia Exchange

To join Cryptopia Exchange, you’ll need to complete four simple steps:

1. Visit the Cryptopia Exchange homepage, click “create account” and input a desired username, your email address and a password.

 

crypto page 1

 

2. Wait for a verification email and follow the link.

3. Set your unique passcode or turn on two-factor authentication if you wish.

 

crypto page 2

 

4. Enter the Cryptopia Exchange and start trading.

 

Customer Support

The support service at Cryptopia could be better. Without a telephone number, it’s tough to reach an agent in the event of an emergency. To compound the problem, there isn’t a live chat feature. What’s more, users are encouraged to use a ticketing system when they need help. Although the support team does its best to respond in a timely manner, it’s not the most efficient way to deal with issues.

 

Advantages & Disadvantages

 

Cryptopia Exchange Pros

-  Huge range of coins listed.
-  One of the first exchanges to list new altcoins.
-  Site revamped in 2018.
-  Trade cryptos 24/7.
-  Accounts are anonymous.

Cryptopia Exchange Cons

-  Fees are high compared to other exchanges.
-  Interface can be confusing for beginners.
-  Isn’t regulated by the FCA.

 

Crypto Wallet Options

You can keep your funds on Cryptopia if you wish. Although this isn’t recommended if you have a large holding, this is the best way to make instant trades. However, for those that are looking to make long-term investments, you will need to use one of the recommended cryptocurrency wallets. In fact, because Cryptopia Exchange is a crypto-based platform, you’ll need a wallet to make deposits and withdrawals.

 

Conclusion

Author Rating: 4/5 stars

As a crypto exchange, this site does a lot of things well. One of the recurring themes in this Cryptopia review is the fact it has one of best listings out there. By taking the initiative and offering new coins as they emerge, Cryptopia has become a hub for traders looking to get ahead of the curve. Now, in practice, this has caused issues with usability in the past. However, after redeveloping the site in late 2018, many of these kinks have been ironed out.

Of course, we’re unable to give this exchange a five-star rating because it falls down in some areas. Firstly, it’s not regulated. Although this is common across all crypto-only exchanges, it’s something we’d like to see addressed in the future. Beyond that, the interface is still a little complex if you’re a novice. Yes, you will be able to overcome this once you’ve used the site for a few days. However, it may be daunting if this is your first time in the crypto world.

Overall, Cryptopia Exchange is a solid platform that has more trading options than you’ll ever need. Combine this with an improved website, plenty of security provisions and a global presence and it’s easy to see why this has become one of the most popular exchanges in recent years.

 

Relevant Links

Check out our cryptocurrency reviews for some alternatives to Cryptopia:

Binance Exchange Review
Bitpanda Exchange Review
Coinbase Exchange Review

Top Exchanges by Country

In addition to Cryptopia Exchange, you can use these recommended exchanges if you’re in the UK: Changelly, eToro, CEX.io.

Top Altcoins to Trade Outside of Cryptopia Exchange

Get EOS Coin
Buy Cardano (ADA)
Trade NEO Coin

FAQS

Is Cryptopia safe?

Yes. Even though it’s not registered with the FCA, this site is a registered business in New Zealand, which means it has to abide by strict operating standards.

Can anyone use Cryptopia Exchange?

Yes. If you’re 18+ and live in one of the 195 countries it serves, you can trade cryptos as this site.

Do I have to give Cryptopia my personal details?

No. Because this is a crypto-only exchange, you only need to provide your email address to create an account and start a trade.

Are there any learning tools at Cryptopia?

No. At this site, you’ll get access to price charts but that’s all. To learn more about trading, check out our crypto guides and news updates.

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