The more the cryptocurrency space is emerging, the more the awareness about the use of cryptocurrencies are being made the more crypto-space is expanding. As a result of the tremendous increase in the need exchanging cryptocurrencies, Cryptocurrency exchanges are becoming an essential part of any trading activity. To fill this need today, a number of exchanges exist across the world and serve different markets and countries.

As the demand for cryptocurrency exchange services is growing, many exchanges are having difficulty keeping up with demand. This is both in terms of website infrastructure and in customer support response times. However, some exchanges have been keeping up with the daily demands. One of these exchanges is the Cryptopia exchange.

About Cryptopia Cryptocurrency Exchange

Cryptopia is a New Zealand based exchange, that offers an awesome crypto-exchange experience. For most traders, Cryptopia exchange offers a doorway to the world of cryptocurrencie irrespective of being a New Zealander or not.

For traders seeking an exchange that offers over 500 cryptocurrency trading pairs, with options to trade in BTC, LTC, USDT, NZDT, and DOGE pairs. Cryptopia is an all-in-one kind of exchange and trading site engrossed on cryptocurrencies’ trading. It allows traders to buy/sell altcoins at instantaneous prices.

Cryptopia does not only offer trading services. It also enables customers to buy/sell physical goods. Customers can surf various sale listings and potentially buy almost anything from home accessories to mobile phones to vehicles with cryptocurrency. One of the main benefits might be the ability to transfer bitcoin and other currencies between users free of charge, as it’s being passed through Cryptopia rather than along the blockchain.

Cryptopia is a fully peer-to-peer exchange, this means you can buy or sell straightly from other users instantaneously. As shown above, the exchange also offers a range of useful features other than exchange feature including:

Marketplace: The Cryptopia marketplace allows buying and selling listings with cryptocurrencies alone. The marketplace enables customer to sell anything, to anyone, anywhere in the world in exchange for the cryptocurrency. The Cryptopia marketplace allows you to set up an auction with just your cryptocurrencies at very competitive prices, just like some other online market places.

Coin Info: The coin info page that gives you real time factual information on over 500 altcoins being traded on the exchange.

Forums: Reading through the forum is a key part of the Cryptopia experience. The forum allows you to get up-to-date information about the exchange, and the general crypto space.

Arbitrage: The Cryptopia exchange allows you to see prices of currencies from other exchanges. The feature makes helps you compare the “Ask” and “Bid” prices from four different websites to pick out the better value for money listings and make more conversant decisions with just a few clicks of button.

Major Feature Of Cryptopia Exchange

Multiple Asset Support

One of the major selling points of the Cryptopia Exchange is its very broad asset support. The only fiat currency supported by Cryptopia is the New Zealand dollars transferred from a New Zealand bank account. However, it also supports an exceptionally wide choice of cryptocurrencies. Not only is the asset choice incredibly wide, but also the site also allows for direct exchanges between various popular currencies such as Litecoin and Dogecoin. This is important because, it means traders do not need to convert everything into bitcoin first before they can convert into another cryptocurrency.

Fees

As discussed above, there is no fee charged for transferring altcoins between users, if the addresses are within Cryptopia. This is because they’re staying in the Cryptopia wallet but simply allowing a different person access. Therefore, the fees are limited to:

  • Trading: A considerable amount of fees is charged for trading your current asset for another. The trading fees charged by Cryptopia is 0.20% of the total BTC traded on each trade.
  • Withdrawal: Transfer fees apply when withdrawing NZD from your account, as well as cryptocurrencies. When withdrawing cryptocurrencies, you’re essentially transferring them from the Cryptopia wallet to your own, and so a transaction fee is applied.

Security

Unlike some other exchanges in the market, Cryptopia does not have any record of hack. Cryptopia uses the expected HTTPS security certificate and generally takes all efforts to ensure the integrity and security of all data on the platform.

For all-out security, Cryptopia recommends two-factor authentication (2FA) for all accounts and insists on it for level 3 verifications. Recently, the exchange made a major security upgrade in the use of two-factor authentication. The exchange now authenticates with the Google authenticator app, unlike the initial use of secret pin codes which is believed to be far less efficient.

Payment method

There is no restriction of access in crediting one’s exchange account. All traders are allowed to make cryptocurrency transfers to their respective accounts. Additionally, verified New Zealand accounts can deposit funds via bank transfer. However, this needs to be done manually by requesting a transfer.

Getting Started With The Cryptopia

Creating An Account On Cryptopia

  • Follow this link to the registration page on Cryptopia as shown below, and fill up all the required information.

  • After successfully filling the details and agreed to the terms and conditions, a confirmation email will be sent to the mail address you provided as shown below:

  • Click on the link sent to your mailbox to confirm your registration.

Verifying Your Account

There are three stages of verification:

  • Stage 1: This can be achieved by verifying only an email address as stated above. This level of verification is limited to a withdrawal or transfer of up to NZ$5,000 per 24-hour period.
  • Stage 2: This level of verification requires your residential address, an identification document which could be a voter’s card, national identity card, or a drivers’ license, and a selfie of yourself holding that ID. Once you are done with this level of verification you can raise your withdrawal and transfer limits to NZ$50,000 per 24-hour period.
  • Stage 3: By providing all of the required information above, as well as proof of address, a photo of a paper with your Cryptopia username handwritten on it and a written statement about why you need limits above NZ$50,000 per day, you can raise your withdrawal and transfer limits to NZ$500,000 per 24-hour period.

Note: that, two-factor authentication must be enabled for all parts of stage 3 verified account.

Fund Your Account

  • Click on the ‘Wallet’ button

  • Select the ‘Deposit’ function from the drop-down as shown below:

  • Select the type of currency you are willing to deposit by typing the currency identifier in the text box provided and click the next button

  • Copy the generated address or scan the QR Code (In the example below, we are using the BTC).
  • Paste the generated address into the sending account
  • Wait for the transaction to be confirmed on the blockchain

Placing a trade on Cryptopia

  • Click on the exchange button from the top tab

  • Select your preferred trading pair from the left panel (In this guide we are selecting the BTC pair)
  • Select your preferred asset you are willing to exchange with your BTC (In this guide, we selected the Wincoin)
  • Fill the buy order on the left-hand side as shown below:

  • Wait for the order to be matched.
    Note: that the order placed will be placed in the open orders below the BUY/SELL orders column. You can also follow the same step to SELL your asset (WINCOIN in this case) for BTC.

To withdraw your fund from Cryptopia

  • Click on the ‘Wallet’ button

  • Select the ‘Withdraw’ function from the drop-down as shown below:

  • Select the type of currency you are willing to withdraw by typing the currency identifier in the text box provided and click the next button

  • Fill in the amount of BTC you want to withdraw
  • Enter the BTC address your sending to, and your 2-factor authenticator pin and press next button as shown below:

  • A withdrawal confirmation will be sent to your mail, confirm the mail and wait for the blockchain confirmation.

 

Written by MyBitcoin Team

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