Conclusion Cryptopia is a superb exchange for anyone wanting to trade less popular altcoins or casual traders that waterput fine value into social interaction.
Cryptopia is an exchange based ter Christchurch, Fresh Zealand. It wasgoed founded te 2014 by Adam Clark and Zeerob Dawson. The company is locally registered te the Companies Office with number 5392901 and NZ Business number 9429041327791 since July 29, 2014.
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The toneelpodium obeys with the laws of Fresh Zealand, but operates worldwide with no exceptions. Its trading volume is considerably lower than that of other exchanges, with just overheen 600 BTC every day (harshly 1.6 million USD).
Particular media recently reported that Cryptopia launched a fresh cryptocurrency (NZDT) whose price would be pegged to the Fresh Zealand dollar (NZD). The webpagina is known for listing many altcoins, te the order of hundreds, including some not incorporated anywhere else. The only drawback on the matter is that, due to private views of the staff, Ethereum is not accepted.
Getting an altcoin listed requires to pay a toverfee so that the staff will review the currency. The details of the coin voorwaarde be sent through a toegangsbewijs. The pricing is displayed te their webstek, spil ‘Paytopia’.
Besides the exchange, the webpagina comes with a cloud mining venture (Mineshaft), a marketplace (where naturally only cryptocurrencies are accepted), a skill saco with information about most of the listed altcoins (CoinInfo) and an arbitrage device.
Using the webpagina: signing up
The process to create a fresh account is elementary: only a username, password and email address are required. The password cannot be trivial, the webpagina enforces that it has upper and lowercase letters, numbers and symbols, there is no warning about that prior to failing, which along having to pass a captcha verification to submit the form makes the process a bit tedious.
Anonymous accounts are not permitted, but improvised emails are permitted. If the limitations of a level 1 account are not a problem, a user could register a throwaway account te little time.
Using the webpagina: getting verified
Verification is entirely optional. Level 1 takes only clicking a confirmation email and comes with a Five,000 NZD withdrawal limit collective among all the currencies indexed on the webpagina.
Level Two users may withdraw 10x spil much spil level 1s. This verification level requires packing a form with individual information (name, last name, bday, gender, country, city, state, zip code and address) and linking two pictures to it (an picture of a valid ID and a selfie holding it).
There is a level Trio but it is available only through customer support. It is designed for users with very specific needs (i.e. moving thousands of NZD every day) and corporations.
Using the webpagina: funding your account
While the webpagina supports a broad range of cryptocurrencies, fiat deposits are not available. To fund an account, click the Bitcoin symbol to the left of your username and select Deposit ter the spijskaart that will emerge. A fresh pagina will be loaded with a currency selector, pick Bitcoin or any altcoin you want to deposit and click next.
Getting ready to deposit some Dogecoin
A one-time deposit address will be generated, to which you can send the money. There are no confinements on deposits (neither ondergrens or maximum), and withdrawals cause only the network toverfee.
If by any chance you do not have any cryptocurrencies with you, you will have to buy them somewhere else or, if you are patient enough, you can grab random prizes by browsing the webpagina and talking on the trollbox.
Using the webpagina: trading
The trading suggesting of Cryptopia is not exactly the best, no margin trading or any other advanced feature is integrated on the webpagina. Te fact, they only permit placing limit buy / sell orders.
To make things worse, figuring out how to place an order is slightly difficult spil well, at least until you get used to the toneelpodium. There is no separate trade pagina, instead you have to browse the Exchange (the option is located near the left-upper corner), and go to the markets pagina.
The precious Market pagina
Merienda you are viewing the markets, you have to look for the specific currency pair you want to trade. To save some time, you can use the search opbergruimte to filterzakje the displayed results and vertoning only markets for the coin of your rente (or the one you own).
Click the pair you want to trade, the interface to the right will be updated and you will be able to place your orders here. The veranderingsproces is straightforward, and the webpagina clearly indicates that it charges a 0.2% toverfee on any movements. A naked ondergrens is required, but it should not be a problem te most occasions.
Here I am placing an order to sell some FeatherCoins I got from the trollbox
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You can check any active orders you have by going to the orders tabulator or by choosing again the Exchange spijskaart and this time picking the open orders option.
There it is! my brand-new order
While you are studying your open orders, you can mampara them individually or all at merienda, spil long spil they have not bot packed yet.
Security on Cryptopia.co.nz
The webpagina is total of captchas, a DDOS attack seems very unlikely to toebijten any time soon to the expense of boring their customers.
Strong passwords are enforced, spil wasgoed previously mentioned. Enabling 2FA is encouraged, with the possibility of configuring it individually for six different deeds. Reserve security measures are applicable, including email withdrawal confirmations and control overheen API access.
Security settings on Cryptopia
There is not much information about the overall security of the toneelpodium strafgevangenis any reference to Bitcoin cold wallets (they voorwaarde exist, but are not open to public scrutiny). The webpagina gives their users the option to invest by opening long-term deposits te a special currency called DOT, for which cold wallets are known and their addresses posted te a forum thread.
So far the exchange has not experienced any hack, but a potential vulnerability wasgoed exposed on Reddit (exposing email addresses associated to the accounts involved ter a trading operation). The emails sent by Cryptopia are not encrypted, but sent spil text/html.
Customer support and overall practice
The webpagina has an embedded toegangsbewijs system, from which is effortless to get te touch with the support team. The official profiles on Facebook and Twitter are professionally treated, with the manager attempting to solve spil many inquiries spil he can.
Users on the internet, specifically on Bitcointalk and Reddit, have complained about disrespectful treatment by the webpagina admins. The person te charge of the official BCT thread of Bitcointalk deliberately overlooks questions that seem to be valid.
The trollbox is utter, at least thesis days, of Spanish speakers, whose fellow compatriots were merienda angrily complaining about lost altcoins from their wallets and, again, the staff being unnecessarily rude.
Attempting to get help about technical issues on the talk might get you banned, so refrain of doing so.
- Hundreds of altcoins listed.
- Low fees.
- Quick customer support.
- Sense of community.
- An arbitrage device.
- Low volume.
- Confusing interface.
- Ethereum not accepted.
- Rude staff.
Cryptopia is a good exchange for anyone wanting to trade less popular altcoins or casual traders that waterput fine value into social interaction. For the big players there are better alternatives and, if you are an Ethereum enthusiast simply stay away from this place.