Want to buy and sell cryptocurrencies? You need an exchange for that and CryptoPayin is one of the modern solutions that can be found. But, is it good enough? You can find out in this CryptoPayin review.
Are you looking for new ways to invest your money? Do you want to make a higher return on investment? With the COVID-19 pandemic inflicting significant damage on the economy, most of the traditional investment options are no longer viable because of the low returns they are offering. Therefore, it is not surprising that many people are looking for alternatives to earn money. If you stayed updated during this time, then you would be aware that one of the markets that didn’t just stay stable, but also flourished and grew during such tough economic times was none other than the crypto space.
The ball was unraveled in 2009 with the introduction of Bitcoin by Satoshi Nakamoto, which became the world’s first-ever cryptocurrency. The anonymous and decentralized nature of this digital currency raised some hackles because it appeared to be useful for conducting criminal activities. But, there were some who saw the cryptocurrency’s potential and chose to invest in it. Gradually, people began to look into it and its applications, but the tide really turned in 2017 when its price shot up to reach the $20,000 mark.
From that day forward, it has become well-known that cryptocurrencies are here to stay and nothing will drive them out. The market had already developed and grown during all this time and a number of other cryptocurrencies had also joined Bitcoin. The volatility of this space helped many people earn massive fortunes and this is how the cryptocurrency market became notorious. Indeed, the risks are high because of the volatile nature of these digital currencies, but the payoff will also be high. While people had begun to take an interest in Bitcoin before its peak, its popularity shot through the roof after 2017.
This brought about substantial demand for cryptocurrency exchanges, as these platforms were especially created to facilitate the process of buying and selling cryptocurrencies. The market continued to grow gradually and 2020 and 2021 once more saw it surge to new heights. In fact, it wasn’t just retail investors who benefitted this time; even institutional investors joined the crowd and were able to make solid returns. There is a lot of room in the crypto space for earning a high return because over the years, the number of cryptocurrencies has increased and new ICOs are being conducted regularly.
Subsequently, the number of crypto exchanges catering to crypto investors has also experienced a rise and this means that you will have plenty of options at your disposal when you want to invest in cryptocurrencies. While this definitely means that you will be able to find competitive platforms, it can also cause a great deal of confusion. As a matter of fact, many people simply become overwhelmed and are unable to decide which exchange to opt for.
In their confusion, they might end up choosing the wrong crypto exchange, which can create a lot of issues. First off, not all cryptocurrency exchanges are reliable; some of them are shady and unregistered and others are pure scams and frauds. Likewise, they may not provide the same level and quality of services, and this can ruin your experience and cause you problems as well. You obviously don’t want to take such risks where your money is involved. So, before you sign up, you need to ask some questions about the crypto exchange to make sure it is the right one for you.
You need to ask these questions about CryptoPayin as well, which has become quite popular since it was founded in 2018 by Navasu Ou. It has its headquarters in Tallinn, Estonia, where it is registered and is offering its services in more than 34 countries around the globe. The crypto exchange has been designed for amateurs and experts alike and promises to give access to some impressive tools and features. Whether they do so or not can be decided after asking the right questions. What are they? You can check them out below:
|Variety of Cryptocurrencies, including Bitcoin, Litecoin, Ethereum, Ripple, Bitcoin Cash and more.
|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
|24/5 support via email address, phone number and online contact form
|KYC (Know Your Customer) and AML (Anti-Money Laundering)
What cryptocurrencies does CryptoPayin offer?
Before you invest your money anywhere, it is wise for you to do your research as you obviously don’t want to lose your money. This is also applicable to the cryptocurrency market, which is highly volatile and even a slight miscalculation can result in huge losses for you. Many people primarily jump into the space for investing in Bitcoin and it is understandable because it is the most popular and well-known cryptocurrency and also the most valuable. However, if you do proper research, you will come to know that there are other profitable cryptocurrencies as well, which have helped their investors make excellent returns and still have a lot of potential.
The cryptocurrency market has grown significantly over the years and what started with Bitcoin by its lonesome has now expanded to include more than 5,000 cryptocurrencies. Yes, not all of these cryptocurrencies may make it in the long run, but many of these have proven to have a great deal of potential and can be viable and solid investments. Investing in more than one option is a smart choice because it follows the principle of diversification. Your risks can be balanced in this way and it can also help you make higher returns in the long run.
This strategy is commonly used in other financial markets and has proven to be quite effective. It can also be helpful in the crypto market, but in order to be able to use it, you will require access to enough cryptocurrencies. This means you have to find a crypto exchange that offers you a variety of these digital currencies to choose from. Every exchange has its own list of assets, but you need to verify what is available or not. Many crypto exchanges often make tall promises, but don’t have the required cryptocurrencies.
Not only is this disappointing, but also waste your time and you might miss out on other opportunities. Thus, it is a very important question to ask about CryptoPayin before you sign up with them. You will find the exchange very appealing when you find out that they are offering more than 15 cryptocurrencies to trade and these are some of the most profitable and notable options in the market. You can choose from Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Monero and Ripple, amongst others. Furthermore, they are also working on adding more options, so you will have a greater number of choices in the future.
It makes it easy for investors to diversify their investment portfolio through which their risks can be reduced and returns can receive a boost.
Is CryptoPayin secure?
Many people are too excited to see the cryptocurrencies offered by an exchange and just sign up without looking at anything else. This is a big mistake and you need to avoid it, if you don’t want to suffer from losses. Yes, the crypto offerings are important, but it would be worthless to invest anything if the crypto exchange you are using is not secure. It will leave you vulnerable to hackers and fraudsters, who can steal your digital assets, your fiat money as well as your personal and confidential data. Do you want that? Considering the long-term consequences of these incidents, everyone would want to avoid them at all costs.
But, it is the responsibility of the crypto exchange to create a secure environment and you have to choose one that can provide it to you. Here again, an exchange can make big promises, but you need to do your due diligence and ensure that they keep your personal information as well as your funds safe. How can you do that? You have to check out their security and privacy policies to reassure yourself. When you begin looking at CryptoPayin’s policies, you will find out that they have been quite proactive in reducing the cybersecurity risks that have become rampant on all online platforms.
In addition, as it is registered for providing virtual currency services, the AML and KYC policies are also implemented on the crypto exchange. These are Anti-Money Laundering and Know-Your-Customer policies that are internationally recognized and CryptoPayin uses them for ensuring only authentic and real accounts are created on their platforms. As per these policies, users are required to provide documents that can be used as proof of identity as well as proof of residence. Which documents are needed? The former requires any form of government-issued ID, such as a national ID card, driver’s license or a passport.
As for the latter, you will be required to provide a utility bill that shows your name and address, like gas, electricity and water, a credit card bill or a bank statement. With the help of these policies, it is possible to reduce the chances of identity theft, money laundering and financial fraud. Other than these measures, fund protection is also a priority for CryptoPayin and that they have accomplished via customer account segregation.
This means that separate accounts are maintained by CryptoPayin for its clients and it doesn’t use their funds for any of its own obligations. They keep all client funds with reputable financial institutions, thereby ensuring there is no misappropriation or discrepancy. Even if the crypto exchange was to file for bankruptcy, the money would be returned to the investors.
How do you open an account on CryptoPayin?
After you have reassured yourself about the security of the cryptocurrency exchange, you need to look into their prerequisites, if any, and the procedure to be used for creating an account with them. If you don’t look at this beforehand, you could be in for a surprise because a number of crypto exchanges have more than a few prerequisites and their procedure can also be time consuming and frustrating. For instance, you will find that some crypto exchanges ask their clients to sign a contract, while others make them wait until their account opening application is approved.
Similarly, there have also been reports about crypto exchanges asking their clients to provide excessive personal information and documents in order to create an account. This is usually a red flag and indicates that the exchange may not be genuine and is possibly a scam. Checking their prerequisites and knowing the procedure ensures that you are ready when you start and can get it over with quickly. After all, you want to open an account as quickly as possible in order to start investing in your favorite cryptocurrencies.
You will discover that there is only one prerequisite that CryptoPayin has added to its platform; you have to be at least 18 years old in order to open an account with them. As long as you meet this requirement, you can visit their website and initiate the sign up process. Here, you will be pleased to find out that they only ask you to complete one form that you can open by clicking on the ‘Join Now’ option on the top right. The form is very short, and it only asks for your email address, password and a mobile phone number.
The email address and mobile phone number are used as your login details to your CryptoPayin account later on. As for the mobile phone number, it is needed for authentication purposes. The last step involves agreeing to the Terms & Conditions that the exchange has set forth, which you can find easily on their website. You can go through them before you move forward in order to clear any doubts you may have.
What kind of platform does CryptoPayin offer?
One of the most crucial features that you are provided by a cryptocurrency exchange is the platform you use for executing your transactions in the crypto market. You will spend most of your time using the platform when you want to buy and sell cryptocurrencies, so you need to make sure it has the right technology, interface and tools needed for making the most of your investment. Otherwise, you are going to find it difficult to make the most of your investment. Most of the time people end up switching exchanges is because they are not happy with the platform they are provided.
They don’t want to make any compromises or sacrifices because it can prevent them from achieving their financial goals. Hence, you shouldn’t opt for a crypto exchange until you are sure that their platform is one you can use and it will be able to help you in connecting to the market properly. Even a small problem can be disastrous and can wipe out your capital, so you have to be extremely cautious. Fortunately, you will not find the platform offered by CryptoPayin lacking in any way.
Understanding the cryptocurrency market, they have developed a trading platform that uses state-of-the-art technology for keeping up with it. It allows you to execute your transactions quickly and see the results in real-time, thereby knowing how your investment is going. Moreover, an intuitive user-interface has been incorporated by CryptoPayin for making it easy for their clients to buy and sell the cryptocurrencies of their choice. You don’t have to worry about a learning curve because the platform runs smoothly.
Also, it has been organized to make it easy to navigate and you will not find any mess or clutter that can cause confusion. A number of powerful and innovative trading tools have also been incorporated by CryptoPayin that enhance the functionality of the platform and allow investors to make better and well-informed decisions. There is one tool that stands out from the rest and is referred to as the crypto price converter. It is added to convert the price of cryptocurrencies into your chosen fiat currency, helping you decide how much you want to invest or how much value you can get.
You will definitely not find this available on many other exchanges in the market. There are some other tools that have been integrated by CryptoPayin and these include live charts and graphs, price alerts, trading indicators and signals and the latest news from the crypto market. Another appealing feature that you will find here is that mobile apps are available for the platform. These can be found for both iOS and Android and can be downloaded with ease. The best part is that they don’t require you to sacrifice any features, as they are also equipped with great tools.
With the help of these apps, you will be able to access your CryptoPayin account from anywhere and this can help you take advantage of every movement that happens in the crypto market. Along with these additions, there is also an OTC (Over-the-counter) desk that has been added by CryptoPayin and this can be quite useful in providing additional liquidity to the exchange’s users. As for prices, they have ensured that you can enjoy the best rates and prices, allowing you to make maximum returns from the market.
Does CryptoPayin offer any support?
You may not think of it at the time of making your decision, but the customer support offered by a crypto exchange can have a major impact in your success in the crypto market. Most people don’t bother checking it out because they don’t need to use it right away, but when you do require it and cannot get adequate help, it can be a recipe for disaster. Imagine having a technical issue in executing your order and not being able to fix it. When you turn for help, there is none available, so you will not be able to profit from an opportunity or minimize your loss.
You should also remember that good customer support can help you distinguish between a reliable and shady crypto exchange. The former is dedicated to ensuring 100% customer satisfaction, but the latter will not provide appropriate options. In this way, looking at the support options can save you from making a bad decision. You will have access to numerous channels of support at CryptoPayin that have been added for the convenience of their clients. To find them, you just need to visit the Contact Us page on their website.
Here, you will come across two phone numbers, one of the CryptoPayin office in Estonia and the other in the United Kingdom. There is also an email address that can be used. You will also see an online contact form here, which can be filled out and their team will get back to you. The customer support staff is very knowledgeable and are available 24/5 to assist you. They are also fluent in English and respond promptly, so you will get the help you require in a timely manner.
What is the verdict?
The answers to these questions indicate that CryptoPayin has put in all the ingredients needed to create a successful crypto exchange that delivers an optimal experience to everyone.