Alternatives To The Bankrupt Cryptopia Exchange

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Alternatives To The Bankrupt Cryptopia Exchange

Following a major hack in January 2019 which cost Cryptopia and its users over $16 million in Ether and ERC-20 tokens, the exchange has filed for bankruptcy. The exchange, which is based in New Zealand went into liquidation even though it restarted trading shortly after the hack. With millions of dollars in debt and unpaid salaries, the appointed auditors had no choice but to take this avenue.

This unfortunate situation has caused some problems to crypto traders who would normally use Cryptopia to trade Bitcoin and other altcoins. Fortunately, there are several Cryptopia alternatives which you can sign up to today.

Binance

Binance is one of the largest cryptocurrency exchanges in the world and offers a variety of services, which include many offered by Cryptopia. The exchange is known for its technologically-advanced monitoring and security systems, and for not accepting fiat currency. Consequently, you must already own cryptocurrency before using this exchange.

Cryptopia was known for accepting and trading lesser-known currencies, and if you still hold some of these coins then Binance is the place to trade them. The global exchange accepts a wide selection of currencies and offers reasonable withdrawal fees and no deposit fees.

Binance offers extensive information about the coins and tokens traded on its platform. This data is continually updated and provides users with trading charts, overall ratings, listing status and much more. With this information, you can invest in Bitcoin successfully and also learn how to avoid common trading mistakes.

Whilst offering many similar features as Cryptopia, Binance excels in safety and peace of mind. Coincidentally, the exchange was itself a victim of hackers, as is common in the industry. However, all user tokens were replaced by the company’s own funds, and the exchange remains extremely popular across the world.

Changelly

Changelly is less of an exchange and more of an intermediary between traders and exchanges. You can think of it as a broker, getting you the best deals thanks to its collective influence. The platform provides you with a fast and anonymous way to make trades and connects you with some of the best exchanges out there, including Binance and Bittrex.

When you open a Changelly account you will be able to link it to several of the best wallets. Trezor, Ledger, and Exodus all allow you to carry out crypto to crypto exchanges directly. Trading fees are competitive, however, be aware that fiat to crypto conversions can be quite costly.

Changelly accepts users from all over the world, so you can easily transition to this Cryptopia alternative. Whilst the two platforms share several common features, Changelly is at least one step ahead since it accepts payments with credit and debit cards. This makes buying crypto faster and more convenient. It also accepts bank transfer if you prefer making payments in this way.

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