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Cryptopia is a New Zealand based cryptocurrency exchange
Read 100% Free Cryptopia Review by Scamorno Team
FULL REVIEW OF Cryptopia
Cryptopia is one of the numerous crypto exchanges that allows users to buy and sells their assets. Unlike some exchanges where transactions go through the exchange itself, the Cryptopia exchange is peer to peer, so all trades are done directly with the other users. To make it stand out, Cryptopia also has a marketplace that allows memberes to buy, sell, or trade nearly anything by using cryptocurrency. This is a unique combination in the world of cryptocurrency and a great answer to something that the market needs.
Cryptopia is registered in the country of New Zealand under the name Cryptopia Limited. It is a legitimate corporation that is registered with the New Zealand government.
How Is Cryptopia Different From Other Crypto Exchanges?
The peer-to-peer cryptocurrency exchange is one of the most popular features of Cryptopia. The platform regularly ranks between 50 and 60 for the top cryptocurrency exchanges using data based on the trading volume. Although other exchanges are certainly more popular for the most common cryptocurrencies, like Bitcoin, Cryptopia’s wide range of cryptocurrency support makes it ideal for anyone who wants to trade with a less-common cryptocurrency. You are likely to find nearly any crypto you search for on Cryptopia.
Other Notable Features of Cryptopia
The marketplace associated with Cryptopia is easily amongst its most innovative features. The marketplace is similar to any other classified website used for buying, selling, and trading, but rather than using fiat currencies, users conduct transactions in cryptocurrencies.
Cryptopia also has updated information regarding the more than 500 coins traded on the website. The relevant information is listed in CoinInfo in a straightforward manner. Traders can view such information as the overall rating, algorithms, connection number, network, wallet status, listing status, and block height.
The arbitrage service provides information on what various cryptocurrencies are listed at on the other popular exchanges. This information lets members make an informed decision, so they get a better deal. This can be useful to profit from less-popular cryptocurrencies since it is much more challenging with high-liquidity currencies, such as Bitcoin.
Paytopia is the set of products and services offered directly by Cryptopia. These include promotional tools to help members make your listings seen and taken advantage of. Most services are paid for using Dotcoin and offer a monthly subscription.
Cryptopia also has lotteries. You can participate and win a daily or monthly lottery, which typically awards prizes for 1st, 2nd, and 3rd places. At the time of writing, the lottery portion of the website had not been recently updated, with the most recent drawing in the history listed in late October 2017. However, it is worth keeping your eye on the lottery to see if Cryptopia works to revive it.
Mineshaft is Cryptopia’s mining platform that is designed to work with several cryptocurrencies. It supports an incredible range of miners, including those who only use single GPU or CPU, ASIC masters, and everything in between.
How Do You Sign Up for Cryptopia and Verify Your Account?
Signing up for Cryptopia is really easy. Start by completing the registration form on the website. From there, you will need to verify your email address. If you only verify your email and nothing else, you will have a daily withdrawal and transfer limit of $5,000.
Stage 2 verification includes providing an ID, your full name, your address, and a photo of yourself with that ID. The limits increase to $50,000 in every 24-hour period. The final stage of verification requires proof of your address, a written statement describing why you would require higher limits, and a photo of you and your Cryptopia username handwritten. The limits can be increased to $500,000 with this verification. However, you must have 2-factor authentication, which is just optional for other verification levels.
Who Is Cryptopia Exchange Open to?
As long as you verify your account, you can use the Cryptopia exchange regardless of where in the world you are. Just keep in mind that the only fiat currency that the platform uses is New Zealand dollars since this is where the platform is based. Additionally, any bank transfer must be conducted using a New Zealand bank account. This means that as long as you are willing to stick to crypto or convert your fiat currencies into New Zealand dollars, you can use Cryptopia.
How Do You Deposit Funds Into Your Cryptopia Account?
Remember that the only fiat currency accepted for deposit at Cryptopia is New Zealand dollars. Funding your account with crypto is relatively straightforward. Once you are logged in, simply click on the Bitcoin symbol that appears next to your username. From there, click “Deposit” within the menu. This will take you to a page where you choose the altcoin of your choice. The system generates a one-time deposit address, and you can send the money to.
How to Trade on Cryptopia Exchange
To begin a trade, begin by going to the “Exchange” tab of the website. Confirm you have the “Markets” tab selected on the left of the screen. You can then look through the pairs or use the search box which will filter the results. From there, you will see the existing orders that matches the trade-pair you choose and you can complete the order.
A unique feature of Cryptopia is the inclusion of a marketplace where members can buy and sell items, post auctions and wanted ads – a bit like eBay or Facebook buy and sell groups. Most of the items listed are Crypto-related, such as mining contracts, ICO guides, currencies, trading bots and other pieces of software.
Using the Marketplace begins by clicking on the “Marketplace” tab on the top of the page. From there, you can search the listings or browse the categories. If You want to create a listing, click the “+Add” button and follow its instructions. You have the choice to set up an auction or pick a set price for the sale. As the Cryptopia exchange works around the world, you should always pay attention to the location for physical items to get an idea of how long it will take to arrive and if you will need to pay for shipping.
What Are The Cryptopia Rewards?
Cryptopia has a reward bot that rewards users whenever they use the website and complete certain actions. The rewards all have random amounts of random coins and are awarded for finishing random tasks within a specific time window. Only some of the actions that can lead to rewards include finding blocks, voting, chatting, inserting mining shares, trading, and tipping. The full reward history is listed on its website for transparency.
Every coin has 161 rewards per day. These rewards are divided into one 5 percent reward, ten 1 percent rewards, fifty 0.1 percent rewards, and a hundred 0.01 percent rewards. Rewards do expire, so if you do not trigger them within the given time, it will expire and return to the balance of the reward bot. Members can donate to this reward bot if they wish.
Review Verdict: Cryptopia is a legitimate platform that works
Consumer Fraud Alert Regarding Cryptopia
The success of Cryptopia has given rise to many frauds who try to sell their own fake platforms in its name. This is a big issue as many customers have lost their money in joining from such fake sites. It is advised that customers should be really careful when they are joining and should do some research before they join from any website. To spot these, watch out and avoid sites that claim to write about Cryptopia, yet the write-up is completely garbage and unreadable as they are created by software and spammed all over the internet. It is always better to avoid joining from any other site other than the official one. Therefore, it is highly advised that consumers do careful research, or only join from the site from the official website here – http://CryptopiaOfficial.com/ (link opens in a new window). The official website that they have includes the legitimate platform.
Conclusion about Cryptopia
This marketplace is an excellent addition, extending the use of classified sites for trading goods and services to the world of cryptocurrencies. Once you factor in other services and features, like its rewards, Cryptopia becomes a very welcome addition to the cryptocurrency world and fills a gap in the offerings that users may not have even realized existed.