Cryptopia Exchange Review

If you’re hunting for some low market cap gems, it’s likely that you’ll stumble across Cryptopia at some point in time. What this exchange lacks in usability, it makes up for in the sheer number of cryptocurrencies it has available.

Cryptopia often lists projects when they’re still too small to be listed on a major exchange like Binance. Investing in these small coins can be highly risky, but finding the right one could mean striking gold.

In this Cryptopia review, we’ll cover:

• Key Information
• How It Works
• Trading Fees
• Available Cryptocurrencies
• Transfer Limits
• Company Trust
• Fund Security
• Customer Support
• Conclusion

Cryptopia Key Information

How It Works

Cryptopia is a pure crypto-to-crypto exchange. This means that you’re unable to use it to buy coins with fiat currencies like U.S. dollars. Instead, you first need to have either BTC, USDT, NZDT, LTC, or DOGE and transfer it to your Cryptopia account.

The exchange dashboard is a little hectic. It shows a searchable list of all the markets as well as the 24-hour market summary for each market. Additionally, it displays the top market by trading volume for each trading currency.

To start trading, click the appropriate trading pair tab on the top left side, and search for the coin you want to trade.

Cryptopia has a standard trading exchange interface. It shows a graph that you can easily switch between candlesticks with volume to an order book depth chart to a distribution chart.

The buy/sell functions aren’t as intuitive as on other exchanges but still aren’t too difficult to use. Although the buy/sell panels don’t include options for Market or Limit orders, you’re able to click on an existing order on the books to auto-populate your order. Advanced options like margin and leverage trading aren’t included.

Trading Fees

The Cryptopia fee structure is straightforward. The exchange charges a 0.2% fee on every trade. This is on the lower end of exchange trading fees.

For withdrawals, Cryptopia charges a static fee that varies by the coin. You can view the withdrawal fee for each coin on the CoinInfo page under “Settings.”

There are no deposit fees.

Available Cryptocurrencies

The advantage of Cryptopia is the sheer number of coins it has available for trading. The exchange support hundreds of cryptocurrencies in trading pairs with BTC, USDT, NZDT, LTC, and DOGE.

No matter what coin you’re looking to trade, you’ll probably find it on Cryptopia.

Transfer Limits

There’s no restriction on the amount you can deposit.

However, Cryptopia limits the amount you’re able to withdrawal based on your verification tier. The tiers and required information are as follows:

• Tier 1: Email
  • Daily Withdrawal Limit: $5,000 NZD
• Tier 2: Full name, birthday, address, photo of ID, photo of you holding ID
  • Daily Withdrawal Limit: $50,000 NZD
• Tier 3: Contact customer support
  • Daily Withdrawal Limit: >$50,000 NZD

Company Trust

Cryptopia used to be a preferred exchange for investors looking to purchase relatively unknown coins. However, this seems to have changed recently.

Numerous users have begun reporting issues with deposits as well as withdrawals. Apparently, transfers either freeze or never show up, and customer support is slow to respond to any issues.

If you value company trust over other factors, Cryptopia may not be for you.

Fund Security

The Cryptopia website is lacking any meaningful security information. It’s unclear how they are storing funds and what percentage are in online (hot) storage versus offline (cold) storage. On a positive note, the platform does include two-factor authentication when you log in and trade.

Once again, if security is a priority of yours, you may want to look elsewhere.

Customer Support

As discussed earlier, several traders have reported slow to no responses from the Cryptopia customer support team.

If you don’t need any interaction with customer support, you could still have a positive experience, though. The platform has an in-depth help section that includes a sold list of frequently asked questions and step-by-step instructions on how to perform many of the tasks on the exchange.

Conclusion

Cryptopia’s purpose is clear: an exchange to trade small market cap and lesser-known cryptocurrencies. Its security is relatively unknown, customer support lacking, but its coin selection is top of the class.

If you only want to invest in some of the top cryptocurrencies, you should avoid this exchange. However, when looking for the diamonds in the rough, Cryptopia is probably your best bet. Sometimes, you gotta risk it to get the biscuit.

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