Cryptopia Exchange Review
UPDATE: Cryptopia is no longer operational.
Cryptopia was founded in 2014 by Adam Clark and Rob Dawson, Cryptopia is different from all the other traditional cryptocurrency exchanges simply because its trades are peer to peer—all are completed with other users. It is very popular amongst crypto investors, and some people call it a place for finding “hidden gems” in the world of cryptocurrency.
It is true that on Cryptopia you’ll find lots of cryptocurrencies that are not listed on any other exchange yet. Cryptopia Exchange also offers the option to purchase cryptocurrencies using NZD $ which makes it an excellent exchange for the residents they can conveniently purchase or invest in cryptocurrency using (FIAT Currency: New Zealand Dollar). Like Tether (USDT) Cryptopia exchange had launched their own coin named (NZDT) which is identical to USDT and serves the same purpose.
If you’re not familiar with Tether or USD₮ and EUR₮: Tether is a fiat-crypto hybrid stable coin which is backed by U.S. Dollar or Euros. Basically what this means is that 1 USD₮ or EUR₮ is equivalent to 1 U.S. Dollar or 1 Euro, since Tether is backed by fiat currency.
A recent example that I can recall it Electroneum (ETN) it wasn’t listed on any other exchange except for Cryptopia and that’s when I joined the Cryptopia exchange and purchase ETN (Although ETN still hasn’t gone to the moon yet!)
Cryptopia has a dedicated user forum for discussions and also a marketplace where not only Cryptocurrency is sold but other items can also be listed for sale i.e. Books, Cryptocurrency, Mining Rigs, ASIC Miners, and a bunch of other stuff!
Location: New Zealand
Features: Exchange Trading, Mining Platform, Arbitrage Service, Coin Info, Lottery, Marketplace, Forum
Verification: With basic account verification (email address) the account holder will have the daily withdrawal limit of $5,000. The enhanced verification requires an ID card, a Driving License or Passport, and proof of Address along with a Photo. The enhanced verified accounts will have a $50,000 per day withdrawal limit.
If you want to increase your daily withdrawal limit to $500,000 per day that you’ll have to provide additional documents like a written statement and other financial documentation.
Fees: Trading fees are .2% and withdrawal fees vary since every coin has a different minimum withdrawal limit.
Although like many other cryptocurrency exchanges Cryptopia is not very popular when it comes to marketing that is the sole reason why this exchange has been able to avoid controversies. The reputation of this exchange is good and there’s been no major hack or drama so far. So, If you’re looking to invest in small and not so popular crypto coins then I would highly recommend that you should join Cryptopia.
Who knows maybe you might end up becoming a millionaire, but this is not investment advice whenever you want to invest in any cryptocurrency (DYOR) do your own research before making any decision. Don’t get involved in Pump & Dump Telegram groups, always invest in projects that have good prospects and experienced development team.
WARNING: Cryptopia exchanged was hacked and the hackers managed to steal different cryptocurrencies and the affected users are still waiting for compensation.
Although the exchange is once again operational but due to the recent events people no longer trust this crypto exchange. If you’re searching for a secure and reliable exchange then I would suggest that you should sign up for Binance Exchange instead.
Are you a Cryptopia exchange member? Please share with us your feedback regarding this cryptocurrency exchange in the comments section below!