Cryptopia is an exchange based in Christchurch, New Zealand with over 2 million users registered. It’s a corporation registered in 2014 as a software development service, not as a financial service.
You can buy and sell a bunch of cryptocurrencies, in fact they claim to have “the world’s largest range of cryptocurrencies”, however worth noting that recently they have started delisting many.
- Large selection of coins
- You can transfer coins to another user
- Good rates
- You can only deposit fiat from New Zealand
- Only fiat currency is New Zealand Dollar
- Delistings without much notice
Recommended for: if you want to trade a large selection of coins, or you have nowhere else to send your coins.
Regulation and protection for customers
Is Cryptopia safe? Well, as safe as a non-regulated exchange can be.
They do offer 2FA, and this is actually required for the highest level of verification, if you want to do KYC.
Opening an account at Cryptopia is quite easy. You just need to fill out the form on the website with a username, email address and password and then verify your email address. After doing this, you’ll be able to trade and transfer up to a limit of $5000 (in crypto assets).
If you want to increase your limit to $50,000 per 24-hour period, then you’ll have to go through the KYC process (which btw, can take a while sometimes) and provide some data like an ID, your full name, address and a photo of yourself with that ID. Furthermore, if you provide a proof of address and a statement explaining why you need higher limits, then limits can be increased to $500,000.
Deposits and withdrawals
First of all, keep in mind that Cryptopia uses New Zealand dollars, since this is where they’re based. Any bank transfer must be done using a New Zealand bank account.
Another interesting aspect on Cryptopia is the fact that you can transfer coins to another user’s account.
There are no limits and no fees to the amount you can deposit.
In terms of depositing cryptocurrencies, this works like at any other exchange. You just select the coin you want to deposit and an address for it will be shown to you. Pretty similar for the withdrawal process.
Cryptopia offers a very large variety of cryptos (according to their own homepage, the largest out there) to trade paired with Bitcoin, Litecoin, NZDT, Tether and here’s a surprise – Doge.
Trading fees on Cryptopia are relatively low, 0.2% for every trade on the Exchange.
There are no fees for transferring coins between various Cryptopia users.
There are also no deposit fees, and the withdrawal fees vary by cryptocurrency and are regularly adjusted. You can see these on the Coin Info page, under Settings for each coin.
Cryptopia has a simplistic platform, that’s easy to understand and use. You can select the pairing you’re interested in and go to the trading screen. You’ll get a chart that’s not ideal, but usable.
The orders are just below the chart, and they’re literally just buy and sell orders. Cryptopia doesn’t differentiate between market, limit or other type of orders.
Just below the orders, you’ll find the sell and buy orders in the book, the market history and your open orders.
Cryptopia offers also an arbitrage section, which provides information about various cryptocurrencies that are listed at other popular exchanges, such as Bittrex and Poloniex. You could use this information to see if there’s scope for arbitrage, mainly on less popular cryptos.
Another feature that’s not present on some other exchanges is the Coin Info section, where they offer you information regarding the coins trading there, such as algorithms, network (POW, POS or different), total coins and other fields.
Cryptopia offers an FAQ page as the first line of support. You can also create a ticket or contact them via social media.
While we haven’t tried contacting them, they are pretty active on their Twitter Channel and claim to respond within 24h on Facebook Messenger.
Cryptopia has some advantages in terms of the large amount of coins listed, and some highly favorable rates on some of them. You can definitely play the little old lady game on there.
On the other hand, lately they’ve been delisting coins without notice, so we would urge users to take that into account.