Cryptopia is a cryptocurrency exchange currently ranked among the top 50 or 60 most popular exchanges in the world. Find out how it works today in our review.
What is Cryptopia?
Cryptopia is a digital asset exchange you can find online at Cryptopia.co.nz. At the time of writing, CoinMarketCap.com had Cryptopia placed in the number 52 spot in terms of total market volume among exchanges over a 24 hour period.
The exchange is particularly popular for trading currencies you don’t find on other exchanges. At the time of writing, the most popular currencies being traded included Atmos, Spectrecoin, Litecoin, 1337, and Bitecoin.
Another unique feature of Cryptopia is its ease of use: it has a surprisingly clean UI that makes it easy for newbies to use. Users also appreciate Cryptopia for its marketplace, where you can sell anything to anyone in the world in exchange for cryptocurrency.
Overall, Cryptopia is more than just an exchange. It describes itself as “your one stop crypto shop”. You can buy and sell digital assets, but you can also trade those assets for real-world goods and services.
Cryptopia was made by a corporation registered in New Zealand.
Some of the key features of the platform include:
The Cryptopia marketplace is an easy place to buy and sell products and services to anyone, anywhere in the world in exchange for cryptocurrency. You can buy and sell items free of charge, or setup an auction or classified listing. However you choose to set it up, you can start turning your cryptocurrency into real-world goods and services today.
Cryptopia’s Mineshaft is a mining platform designed for various cryptocurrencies. It supports all miners from single CPU or GPU users to full blown ASIC masters.
As mentioned above, the Cryptopia exchange is typically ranked within the top 50 or 60 most popular cryptocurrency exchanges based on trading volume. The exchange is surprisingly simple to use, and has a pleasantly user-friendly UI. You can also use the exchange to pay your bills.
Cryptopia is known for trading currencies that you don’t see on other exchanges.
Cryptopia has a lottery where you can win cryptocurrencies daily. The lottery awards first, second, and third prizes to users. There are daily lotteries and monthly lotteries. Prizes vary widely, although at the time of writing, we didn’t see any enormous prizes being given away.
One of the useful parts of the Cryptopia website is its Coin Information page, where you can get detailed information about a wide variety of altcoins available online today. You can view key facts about altcoins in a no-nonsense way, including the algorithm used by the altcoin, the network, the number of connections, the block height, the wallet status, the listing status, and the overall rating.
Cryptopia has an arbitrage section where you can view arbitrage opportunities across the internet. You can check this section to see which currencies are trading at which prices on different exchanges, and then take advantage of those price differences to make a bit of money. Obviously, arbitrage is tougher in high-liquidity currencies like bitcoin and all popular altcoins, but there may still be arbitrage opportunities for low-volume currencies. Cryptopia lists these opportunities in an easy-to-read table.
Cryptopia has a rewards bot that rewards you for using the site. You can earn coins for performing certain actions on the website. The reward system is very random. Here’s how Cryptopia describes it:
“Rewards occur for random coins with random amounts for random tasks during specific time window.”
Basically, users have to perform a correct action during a specific time window. If you perform that action during that time window, you could receive a reward. You never know what that action will be.
Some of those “specific actions” include trading, inserting mining shares, finding blocks, tipping, voting, and chatting. You can view a list of recent awards and their amounts here. The most common rewards are for trades, and the most common amount rewarded is 0.01% of that trade.
Cryptopia was created by a New Zealand-registered corporation named Cryptopia Limited. You can view full details about that corporation at the official NZ government website here. It’s a legitimate, registered corporation.
One of the important things to note about the corporation is that it doesn’t claim to be involved in financial services (which typically comes with additional regulation). It’s registered as a software development service.
Cryptopia Limited is based in Christchurch. The company lists two directors on its corporate registry, including Adam Clark and Robert Dawson. Cryptopia was registered in July 2014.
You can contact Cryptopia by email at firstname.lastname@example.org.
Calling Cryptopia “just” a cryptocurrency exchange is a bit misleading. It’s an all-in-one cryptocurrency platform that wants to enhance the useful of cryptocurrencies. In addition to the exchange (currently ranked #52 in terms of 24 hour trading volume), Cryptopia has a marketplace, a lottery system, a rewards program, and an extensive information section.
To learn more about Cryptopia, visit the site online today at Cryptopia.co.nz.