Cryptopay Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $10
- Web platform
- Mobile application
- 20 out of 37 cryptocurrencies cannot be sold to other traders or withdrawn, they can only be bought and then exchanged for other coins
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $10
- Web platform
- Mobile application
- 20 out of 37 cryptocurrencies cannot be sold to other traders or withdrawn, they can only be bought and then exchanged for other coins
Our Evaluation of Cryptopay
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Cryptopay is a cryptocurrency exchange with higher-than-average risk and the TU Overall Score of 3.1 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Cryptopay clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
Cryptopay is an exchange with a wide range of digital assets and a proper level of security, but with high trading commissions and additional withdrawal fees.
Brief Look at Cryptopay
Cryptopay is an online cryptocurrency exchange headquartered in London and registered with the Financial Conduct Authority (FCA). It has provided services since 2013, has its own CPAY token, and is currently available in 122 countries. Using the Cryptopay mobile app and web platform, you can buy, exchange, withdraw and store 37 cryptocurrencies. The Cryptopay exchange takes deposits in euros, US dollars, and pounds sterling, and also supports withdrawals in fiat currencies. It issues virtual and plastic Cryptopay Visa cards that can be used to pay online (including cryptocurrencies) or at physical sales outlets.
- Activities are under the supervision of the British regulator FCA;
- loyal requirements for the minimum deposit are 10 US dollars, pounds sterling, or euros when replenishing from a card;
- a wide range of instruments include Bitcoin + 36 altcoins;
- storage of crypto assets on hot and cold wallets;
- the ability to connect two-factor authentication for secure entry into the trading application;
- protection against phishing and brute force using multi-signature technology;
- professional support service in 7 languages and 24/7 chatbot.
- high exchange fees for trading and exchange;
- withdrawal commission for both fiat and cryptocurrencies;
- lack of effective investment solutions and no ability to trade with leverage.
TU Expert Advice
Financial expert and analyst at Traders Union
Cryptopay exchange allows you to buy, sell and send 17 cryptocurrencies to third-party wallets. These include not only popular BTC (₿), ETH (Ξ), LTC (Ł), and USDT (₮), but also less popular coins such as AAVE, ALGO, SNX, and ZRX. There is another group of cryptocurrencies, actions with which are limited. These 20 altcoins (including XMR, DOGE (Ð), ATOM, TRX) can be bought with a bank card and then exchanged at the internal rate of the exchange within your account. Selling and exchanging with other Cryptopay members is not available.
Concerning fiat currencies, you can deposit using USD, EUR, and GBP; however, withdrawals in US dollars are not possible. Also, the USD can only be credited from the card. Bank transfers are made in EUR and GBP. Each client can have only one account and must deposit from personal cards or bank accounts. The chatbot is available around the clock, with live operators from 8:00 to 19:00 on weekdays and from 9:00 to 17:00 on weekends (UTC).
The exchange provides high data security due to the storage of cryptocurrencies on hot and cold wallets. To protect against phishing and brute force (password guessing by third parties), Cryptopay uses MultiSig technology: before sending a transaction, it must be signed with several private keys. Also, each client can enable two-factor authentication (2FA).
- You're based in Europe, as Cryptopay primarily serves European users, providing support for EUR, GBP, and soon USD, in addition to offering access to over 35 cryptocurrencies. Further, Cryptopay offers convenient access to both fiat and cryptocurrencies for Europe-based users.
- You want to spend crypto directly, as Cryptopay's upcoming Visa card, currently in beta testing, will enable users to spend their crypto holdings anywhere Visa is accepted. This feature provides added flexibility and convenience for users looking to utilize their cryptocurrencies for everyday purchases.
- You're looking for low fees, as Cryptopay's fee structure includes a 4% charge for buying crypto and a 1% fee for exchanging currencies.
- You require access to cryptocurrency services outside of Europe or need global reach for your transactions. In that case, Cryptopay may not meet your needs due to its regional focus.
Cryptopay Summary
| 💻 Trading platform: | Web platform on the site, mobile applications (Android and iOS) |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | EUR, USD, GBP, cryptocurrencies |
| 💵 Replenishment / Withdrawal: | Cards (Visa, Visa Delta, Visa Electron, MasterCard, MasterCard Debit, Cryptopay), PayPal, bank transfer, crypto |
| 🚀 Minimum deposit: | Cryptopay cards - USD/GBP1, Visa/MasterCard - EUR/USD/GBP10, bank transfer - 10 euros, cryptos - BTC/LTC/ETH 0.00000001, XRP 0.000001 |
| ⚖️ Leverage: | Not provided |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Commission: | 1-4% |
| 🔧 Instruments: | 37 cryptocurrencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market |
| ⭐ Trading features: | 20 out of 37 cryptocurrencies cannot be sold to other traders or withdrawn, they can only be bought and then exchanged for other coins |
| 🎁 Contests and bonuses: | Yes |
Cryptopay supports over 30 cryptocurrencies. They can be bought directly from debit and credit cards, sold to other clients of the exchange, and also exchanged for fiat currencies.
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Commissions & Fees
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | 4% | Yes |
The Union also compared the fees of Cryptopay and other crypto exchanges. The comparative results can be found in the table below.
| Broker | Average commission | Level |
|---|---|---|
|
$4 | |
|
$20 | |
|
$0.1 |
Investment Options
The Cryptopay exchange has its own token called CPAY. A trader can buy it on the partner exchange HitBTC and receive a share of the income for it every month, provided it is stored in an ERC20 compatible Ethereum wallet.
Cryptopay developers are also working on Earn, an option similar to staking. The announcement of its launch will appear on the exchange's official website. The CryptoPay exchange does not offer any other investment solutions yet.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Cryptopay’s affiliate program:
Under the terms of the referral program, the current client receives 10% of the trading commission of each connected referral. The minimum withdrawal amount is BTC 0.0001.
Referrals from the EEA countries and the UK, who signed up using the link of an active client, receive a 25% discount on the first order of a Cryptopay payment card.
User Satisfaction