Is Cryptopia a scam or not?
Cryptopia is a cryptocurrency exchange based in New Zealand, the company was founded by Adam Clark and Rob Dawson in 2014. According to the official website, Cryptopia exchange is a powerful currency trading platform. Traders can deposit, trade, and withdraw Bitcoin, Litecoin, and over 400 other cryptocurrencies. The trading fees charged at Cryptopia are in line with the competition. According to some user experiences, the trading platform at Cryptopia feels a bit complicated.
There were a lot of security problems at Cryptopia. Website hacking has been on the rise lately, especially concerning cryptocurrency exchanges. The exchange hasn’t yet suffered a major hack. However, there are a few alleged reports by individuals, who claim their accounts were hacked. It is hard to verify their claims or if they aren’t to blame for mistakes like having a weak password. Online forums are full of complaints, regarding various hacking attempts. You can easily get level 1 verification from Cryptopia with just a confirmation of your email address. All traders at Cryptopia can make cryptocurrency transfers but only traders from New Zealand who verify their identity can deposit funds via bank transfer. I have read reviews about Cryptopia stating that it’s one of the best places for new users (especially for traders from New Zealand) and beginners wanting to get their first cryptocurrencies but there are also negative reviews. I have found that some users are complaining about the website, slow transactions for depositing and withdrawing, too high withdraw fees.. Email support is their main customer support tool. Support requests sent to email address may be ignored and there is no live chat available at this moment. In my opinion, the customer support should be better and certainly needs some improvements. Positive thing is that you can post your issues on their active forum on their website. Cryptopia certainly needs to increase their support staff in order to solve the support issues very fastly because newcomers might afraid investing with Cryptopia. This exchange is not a scam but Cryptopia needs some improvements to become a more reliable partner.
Experiences with Cryptopia
Cryptopia is quite overloaded at the moment, the support is answering very slowly and the website itself is quite slow and using lots of your computer’s resources. In my opinion, there are better exchanges available on the market. I did not find any incidents and complaints that make this exchange scam but Cryptopia certainly needs some improvements to become a more reliable partner. Complaints vary from a slow processing of deposits, problems with withdrawal, lack of response by the customer support to bugs and outages. I also found some negative reviews on the forums but this is connected with the situation that Cryptopia has been unprepared for a surge of new users and surge in trading in last several months. The following quotes give you a sense of what other traders think about this cryptocurrency exchange:
- No problems for me in last 6 months! Had a deposit issue with a wallet in maint, support quickly got back to me ( 30 – 45 minutes) assured me I would have my coins when maint was done & I did!
- The interface is a bit confusing, charts are nice, withdraws and deposits can take a while due to their confirmations
- The website is currently not accepting new sign ups but when I did sign up , the process was easy
- Waited 2,5 days for an USDT transaction, have the feeling my current transactions are going to take forever
- I transferred 5ltc from coinbase to cryptopia on the 5th of jan and its the 8th and still not deposited
- The slowest transactions for depositing and withdrawing in any exchange I have used
- So far personally I found no issues, my transfer was smooth. this site is very simple and easy to use very much user-friendly, you can use btc, usdt, ether or dodge coin to trade
- Great exchange. I think Cryptopia will be one of big exchange in the future. I never had problem so far using it
- Too high withdraw fees
- I have had no problems with Cryptopia
- Very safe and secure site
Our top recommendation: regulated, reliable Crypto Exchange:
#1: www.binance.com - join over 5,000,000 other traders who trust Binance. Trade safely on your computer or on your smartphone with the with this regulated crypto exchange.
Risk warning: Your capital is at risk. Trade only with funds you can afford to lose.