CryptoPayin Review – Is this a Good Trading Platform?
If you have come across the name of CryptoPayin, you are probably looking for a cryptocurrency exchange. You would obviously want to find a good exchange for buying and selling cryptocurrencies and this CryptoPayin review can help you decide if it is suitable enough or not.
Online trading is not something new. When technology progressed and the internet was introduced, a number of activities became digital and trading in the financial markets was one of them. Today, online trading is considered one of the most convenient ways to trade and there are millions of people all across the world who are participating in it for earning substantial profits and returns. It is an excellent opportunity for people looking to supplement their existing income, or even for those who want to get out of the nine-to-five rut and try something different altogether.
Some of the richest people in the world earned their profits through trading in the different financial markets. There are thousands of instruments that can be bought and sold for profit and the newest addition that was made to them is of cryptocurrencies. In 2009, the first cryptocurrency was launched by the name of Bitcoin. Most people did not think this space had a lot of potential and assumed that the concept of virtual currency would die out because there was just too much risk. After all, it was decentralized and there wasn’t any regulation in the market at all.
In fact, the anonymous nature was believed to be useful for the criminal element and this invited further criticism. But, Bitcoin and cryptocurrencies in general managed to beat back all such negative opinions, as the world saw it become one of the biggest financial markets in just a decade. The cryptocurrency journey began with chump change and now the market is worth billions. In 2021, Bitcoin managed to achieve an all-time high of a whopping $60,000 per coin, way higher than its first all-time high of $20,000 in 2017. Predictions are that it will eventually reach a value of $100,000.
The market has risen enough that Bitcoin is now being considered a challenger of gold as a safe haven. Between 2020 and 2021 when the world was hit by the coronavirus pandemic, the crypto market flourished while others suffered and this attracted a horde of institutional investors to this space as well. Even people who had been critics previously have now become pro-Bitcoin and pro-cryptocurrency. Hence, it is not really surprising to know that the demand for cryptocurrency exchanges has surged astronomically.
In order to buy and sell cryptocurrencies, whether for trading or for investing purposes, people have to use a cryptocurrency exchange. Their purpose is to facilitate the buying and selling of these digital currencies and there are hundreds of names you will come across. Some of these exchanges have been around for years offering other financial instruments and have added cryptocurrencies to their list of assets. There are also those exchanges that have been solely established for offering crypto buying and selling services to people and these are relatively newer, considering that cryptocurrencies were introduced only a decade ago.
It is better to opt for the latter option because cryptocurrencies are quite different from other financial instruments, due to which they require different tools and features. Exchanges that are solely dedicated to cryptocurrency trading will be able to offer better services than others. The good news is that there are a multitude of exchanges that specialize in this market, but you have to remember that not all of them are the same. You cannot expect them to offer the same services, assets and features.
In addition, you have to be cautious because some of these exchanges could be pure scams or shady platforms that you don’t want to use. They can leave you vulnerable to frauds and other cybercrimes and it will only be a recipe for disaster, as you will not be able to achieve your goals of tapping into the cryptocurrency market. So, how do you pick a cryptocurrency exchange? You take an in-depth look into its offerings and then decide how to proceed. This CryptoPayin review is aimed at helping you do that with this particular exchange.
CryptoPayin was founded in 2018 by a company based in Tallinn, Estonia, known as Navasu OU. They have spread out their operations to more than 34 countries around the globe and are offering their services to people from all walks of life. Their website is available in two languages; English and Eesti. They have a 24-hour trading volume record of more than 750,000 and can offer great liquidity to their users. In fact, they have also added an additional OTC (Over the counter) desk for facilitating their clients in the best possible way. What else do they offer? Read on to find out:
|Assets Coverage||Variety of Cryptocurrencies, including Bitcoin, Litecoin, Ethereum, Ripple, Bitcoin Cash and more.|
|Trading Tools||Trading Indicators, Economic Calendar, Cryptocurrency Converter, Signals, Live Charts, Technical Analysis Tools, Price Alerts and Risk Management Tools|
|Education and Training||Yes; , e-books, online video courses, webinars, tutorials and latest market news|
|Customer Support||24/5 support via email address, phone number and online contact form|
|Security Policy||KYC (Know Your Customer) and AML (Anti-Money Laundering)|
|Parent Company||Navasu OU|
When you want to use the services of a cryptocurrency exchange, you will be required to sign up with them. This is expected of any online platform and it is no different for an exchange. But, there is no standard format that these exchanges follow, so you can expect anything and everything from them. Most people are intimidated by this process because some exchanges do tend to draw out and complicate it unnecessarily. Some also ask for a lot of information, which is worrisome because you don’t want to put so much of your personal data out there in the hand of a company you haven’t used before.
Obviously, you would want to know how CryptoPayin does in this regard and what they require you to do in order to start using their trading platform for buying and selling cryptocurrencies. This is when you will realize that their sign up procedure is relatively straightforward than any of the other platforms out there. They don’t require you to jump through any hoops and you don’t have to provide excessive information, at least not right away and this is certainly reassuring. What do you need to do to sign up? You have to go to the ‘Join Now’ option on their website and click on it.
Doing so will open up a form that has to be completed and it asks you for some very basic details. You have to provide an email address, a password and a mobile phone number. You have to provide a real number for authentication. The last step is to agree to the Terms & Conditions that CryptoPayin has stated on its website. You can go over them carefully in order to reassure yourself what you are agreeing to. Then you click on ‘Accept’ and the process is done.
This is all you need to do in order to join the CryptoPayin exchange. They don’t require you to wait for approval of their sign up request, or ask you to complete any other steps before they allow you to start using their exchange.
The whole point of looking for a cryptocurrency exchange is to buy and sell cryptocurrencies. But, have you thought about what cryptocurrencies you want to invest in? There was a time when Bitcoin was the only digital currency worth considering, but over the years, the market has grown and expanded quickly. A ton of other cryptocurrencies have been introduced since then and there are thousands of options available now. Of course, not all of them can offer you the same rate of return and there are some cryptocurrencies that are just a better investment.
Moreover, the volatility of the cryptocurrency market is such that you should not just stick to one or two cryptocurrencies. It is smarter to opt for diversification, which means you should spread out your capital across more than a few options. However, in order to be able to do so, you have to have access to the right cryptocurrencies and this is where you will need to look at different cryptocurrency exchanges. No two exchanges will offer you the same cryptocurrencies to buy and sell, so you need to take a list at their offerings.
You have to be very cautious because there are some cryptocurrency exchanges that promise you a variety of cryptocurrencies, but are unable to live up to their claims. It is just a way to convince people to sign up and you will find out later that they don’t have the cryptocurrencies you want to buy and sell. You don’t want to have to sign up with a different exchange over and over again, as this is frustrating and time consuming. Likewise, you don’t want to maintain individual accounts with different exchanges either because it can be difficult to manage them altogether. At the end of the day, you will end up making bad decisions as you will be unable to keep track of several accounts simultaneously.
It is better to opt for one cryptocurrency exchange that can provide you what you need and CryptoPayin can be a sound option. First, they are a dedicated cryptocurrency exchange, so they will provide you everything that’s necessary for trading these volatile currencies. Secondly, they also offer variety where cryptocurrencies are concerned, so you will not have any problems with diversification. There are a total of 15 cryptocurrencies available, which include some of the most popular and profitable options.
You will be able to buy and sell Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, Monero and a number of others at CryptoPayin and diversify your crypto investment. You will only be required to maintain a single account, which makes it a lot easier to manage your investments in order to make the most of them.
Security and Privacy
One of the best ways for anyone to determine whether an exchange is a good one or not is to take a look at their security and privacy protocols. People are already aware of the privacy and security risks associated with the internet, but they have been magnified where the cryptocurrency market is concerned. This is because the space is unregulated and cybercriminals have seen this as an opportunity to exploit as many people as possible. When the market was just starting out, there were numerous incidents where exchanges were compromised and people lost their digital assets as well as their personal and confidential information.
Cryptocurrency exchanges have gotten smarter over the years and have strengthened their privacy and security protocols to ensure this doesn’t happen. Nonetheless, not every exchange offers the same level of privacy and security and this is something you need to be careful about. If the exchange is not able to offer you adequate security, you will be vulnerable to the risk of identity theft, or your digital and fiat assets can be stolen. One of the biggest problems with theft of digital assets is that there is no way of getting them back due to the anonymous nature of cryptocurrency transactions.
You want to avoid such scenarios at all costs and the only way to make it happen is to opt for an exchange that has a robust security and privacy infrastructure for their clients. You shouldn’t ignore this aspect and always incorporate it when you have to decide which exchange to you. Taking a look at the protocols used by CryptoPayin will show you why it can be a good exchange for your cryptocurrency investments. To begin with, you should know that it is a registered exchange in Estonia, which means it is not some shady company that will disappear with your funds.
They have mentioned the registration number on their website and it can be used for verification purposes. In accordance with this status, the AML (Anti-Money Laundering) and KYC (Know-Your-Customer) policies are applicable on CryptoPayin. These security policies are used internationally for ensuring that the exchange cannot be used for any criminal activities, such as money laundering, financial fraud, terrorist activities and identity theft. How do they do so?
These policies require users to verify their account by submitting documentations for proof of identity, such as a national ID card, driver’s license or international passport, and for proof of residence, such as a utility bill, credit card bill or bank statement. These documents should be recent and not near expiry. But, how will information stay safe? In order to keep it so, high-grade SSL (Secure Socket Layer) encryption has been used by CryptoPayin on all data they accumulate. Not only this information, but whatever is accumulated during the trading process is also encrypted.
Hence, even if their system is compromised, the information cannot be used by anyone because it will be encrypted. As far as protecting your funds is concerned, account segregation is done by CryptoPayin for preventing any misappropriation or discrepancies. This means that client accounts are maintained separately from the company’s own, so they are only used for crypto buying and selling and not for any of the firm’s obligations. In the event of a bankruptcy, they would be returned to the users.
How will you buy and sell cryptocurrencies when you register with an exchange? What will you use? How will you know the cryptocurrency prices? Where will you be able to see your open positions? This is where the exchange platform comes in, which is basically the software that is used for opening and closing your positions and connects you to the cryptocurrency market. It helps you manage your investments, check the prices and also provides tools that can be helpful in making buying and selling decisions. But, it is essential to bear in mind that every exchange’s platform is unique.
It is up to the exchange to decide what kind of platform they want to offer to their clients and the tools it should be equipped with. Since it plays a notable role in your experience with the exchange, you should check it out beforehand to know it can get the job done. The cryptocurrency market is extremely volatile and changes quickly, so the platform should be able to keep up. Therefore, state-of-the-art technology has been used by CryptoPayin for their trading platform. They want to offer their clients a seamless experience and that can only happen when the platform is capable of meeting all expectations.
You can access the trading platform via the CryptoPayin website after logging into your account. The user-interface is simple and easy to use, as it has been designed for beginners as well as experienced investors. You will not have to worry about a learning curve and navigation is also smooth. Thanks to the advanced technology, the platform responds quickly and allows you to see everything in real-time. In addition, since the platform is accessible via the website, you can use it on any device that’s convenient for you.
This gives you flexibility to access your account on CryptoPayin from anywhere. In fact, they have also added mobile apps that you can download on your Android and iOS devices, respectively. These allow you to buy and sell digital assets from anywhere and they are very simple to use. As far as tools are concerned, a number of them have been incorporated on the platform to help users in making smart and well-informed decisions. The most notable one is the cryptocurrency converter, which allows you to determine the price of a cryptocurrency in any fiat currency of your choice.
You will be able to purchase any cryptocurrency using fiat money and can also sell any cryptocurrency and get fiat currency directly in your bank account. As for the other tools, you will find that CryptoPayin has added a variety of charts, trading signals and alerts, some indicators and market analysis that can come in handy and allow investors to make decisions of buying, holding and selling.
Every business, no matter which industry it is operating in, should be aware by now that customer is king. Therefore, if they have not provided customer care, then it doesn’t really say much about them. A good cryptocurrency exchange would never make this mistake because they understand that customers may require assistance of any kind at any point and it should be readily available. Due to the volatility of the cryptocurrency market, a delay can prove to be disastrous and this is an outcome no one wants to face. The markets are open round the clock and assistance should be provided accordingly, but not every exchange is able to deliver in this aspect.
The good thing about CryptoPayin is that it doesn’t fall in this category because they have added 24/5 customer care services for its clients. You can find an email address on their website, along with two phone numbers, one for their Estonia office and one for the UK office. You will also find an online contact form on their website that can be filled out to schedule a callback from their team. They are friendly and responsive and will assist you in any way possible.
Along with these features, you will find various payment methods offered by CryptoPayin and are also offering their services to businesses to help them in providing crypto exchange services globally.