How to trade on Cryptopia
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how to trade on cryptopia

www.cryptopia.co.nz  Cryptopia is a New Zealand based exchange that started operation in July 2014.  The reason many people use the exchange is due to the large number of new coins that are available on the exchange.  Newer coins like Pirl, Ella and Music are all listed on this exchange which make it the easiest exchange to use for holders of these coins.

The process to exchange coins on this site is really quite easy.  This is your guide to getting started exchanging all those coins your rigs have been gathering for you.  This is also how you can exchange a coin like Pirl to BTC/ETH/LTC which you can then send to an exchange that allows you to sell for your local currency.

The first step is to create an account on Cryptopia.  Simply click on the register link in the upper right hand corner of the site and you will be taken to the page below.create account cryptopia

One of the concerns that some users have with this exchange in particular is the fact that Cryptopia only uses a pin code as two factor authentication.  There is some risk in this that a 4-8 digit pin code could be rather easily hacked if you account becomes compromised.  Some of this risk is mitigated in the fact that you have to also allow any withdrawals from the exchange via an email confirmation.  This would mean that in order for someone to withdrawals your funds from Cryptopia, they would also need access to your email as well.  As with any exchange there are benefits and risks so it is a best practice to not leave a lot of your coins sitting in an exchange.  It is typically recommended that you send your coins in, make your exchange and send the coins back out all in a relatively short amount of time.  The coins are then residing in your wallets are much more secure than those on an exchange.  Once you have your account created you are ready to start!

When you are registered, you can log in.  At login, it will ask you for you pin code every time you log on.  Once you are logged on, you have to click on the balances tab to see all of the various coins that are available on Cryptopia.  It is located on the top of the screen near your username.

How to trade on cryptopia

All you have to do is type in the name of the coin that you want to exchange.  We are going to use Ethereum(ETH) in this example.

trade on cryptopia

You can see on the right that there is the option to add this coin as a favorite.  This is a good idea if you plan on frequently using a various coin.  You can then filter all of the options by just the ones you have selected as your favorites to make finding them much easier.  You will also see on the left side of the coin name four symbols.  The first symbol is for depositing, the second for withdrawal, the third is to transfer and the last one is to dust your balance.  We will cover each of these in order so you can understand their use.

If you have some ETH that you want to exchange for another coin, the first thing you need to do is click on the green button.  Once you click on the button, you will be taken to a screen that says “Creating Address.”  Once this is complete, you will be taken to a page that has your deposit account address listed.

trade cryptocurrency

From here you can copy the link address and send coins from your ETH wallet to this address.  Once you send your coins, you have to wait for the transaction to go through.  Depending on the amount of transactions on the network this can take some time.  It is best to be patient before bombarding the support team at Cryptopia.  Sometimes transactions can go through in just a few minutes for small coins like Pirl or Ella, but for larger coins such as ETH or BTC it can take up to a few hours.  In my experience Cryptopia has always send my coins to the address, sometimes longer than others, but they have always came through within 24 hours.  Once you have sent coins to your address on Cryptopia, you have to wait for the transaction to be accepted into the blockchain.  After some time, you will see coins show up under the “Total” section of you coin.  This means that Cryptopia has received your coins and will move them to your available balance shortly.  Once the coins are in in your available balance, you are ready for the next step.

In order to exchange our ETH for anything else, we first need to exchange it into one of the available exchange coins, BTC, USDT, NZDT, LTC or DOGE.  The process is the same for all of them but in this example we will be using BTC.  At the top of the Cryptopia page, just click exchange and then markets.

trade crypto on cryptopia

Just type the name of the coin you want to exchange in the search box and then click on the coin in the left-hand column.

cryptocurrency cryptopia

You will see that we have some ETH available to sell in the section that says “Sell ETH.”  First we need to click on “Price.”  This will bring in the current going rate to sell.

sell eth on cryptopia

Next we input the amount of ETH we want to sell.  If you click on the available amount, it will move that total to the amount box automatically.  You will then see the amount of BTC you will receive along with the fee for this transaction.  You can then modify the rate at which you want to sell your ETH.  If you don’t want to sell your eth for less than say .05700000, then you can change this rate.  Once you are satisfied with how much to sell for, simply click “Sell ETH” and your order will take a few seconds to get processed.

sell ethereum cryptopia

Once the sell is processed you will see a few green dots under the sell orders section at the price you set to sell your coin.

trade cryptopia

This clearly shows you how many orders are ahead of yours and at what rate.  You then must wait for someone to buy your coin at the given rate.  Once your sell order is picked up, you will receive a notification and you will now have BTC in your available balance.  You have now successfully converted ETH for BTC!  Congratulations.  The next step now that we have BTC is to either send it out to a different exchange, such as Coinbase if we want to sell it for USD or we can then trade it to another coin.

If we want to withdrawal the BTC to another exchange we must first set up a BTC account.  In order to do this we must add it under our list of trusted withdrawal accounts.  To do this, we have to click on our username and then account in the upper right hand corner.  On the account screen we then click security.  You will be prompted for your pin code.  Once you enter your pin, scroll down to the bottom and you will see the list of accounts you have already added.  Click on add new and you will be brought to an address book entry box.  Simply select the currency ID and type in a label.  Make sure you label it something you will remember such as Coinbase if that is where that address is held. Then paste in your coin address and click add.  If you do not do this step, you will not be able to withdraw your coins.

withdraw coins cryptopia

After you have added the address, now you must go back to your balances tab and click on the second button which is the red withdrawal button.  On that page, you will input the amount of BTC you want to withdrawal and the fee.  Cryptopia charges .001 BTC for BTC withdrawals.  This is equal to almost $20 USD.  There are cheaper coins to withdrawal from Cryptopia and most people have learned to send either ETH or LTC out of Cryptopia as they charge significantly less to send out.  You will then be enter your pin and select next.  Cryptopia will then send you an email confirmation.  You will need to log into your email and approve the transaction.  Once that is complete, you have successfully sent your BTC from Cryptopia to your external BTC account!

withdraw btc cryptopia

If you don’t want to send your BTC out but would rather trade it for another coin, then we have to go back to the markets screen.  In this example we are going to trade BTC for MUSIC.  We simply type in the coin into the search box and click on the coin.

cryptopia

On this screen we are going to buy some MUSIC with the BTC we have in our account.  This is a very similar process to selling as we completed earlier.  Simply click on “Price” to pull in the current price of the coin.  Then click on Total if you want to use all of your BTC balance to buy the coin.

buy coins cryptopia

We can modify the price that we want to buy at or the amount of BTC that we want to spend.  Simply entering the numbers and pressing the enter key will change the other amounts in the appropriate boxes.  Once we are satisfied we our purchase, click Buy MUSIC and your order will be entered into the list of orders.  Here you will see that we have place an order for 200 MUSIC at 0.00000760.  It is important to note that the minimum trade is .0005 BTC or roughly $10 USD.

buy coins btc cryptopia

If you want to cancel the order for any reason, you can click on the orders tab on the left side of the screen.  This will bring up all of your pending orders.  If you want to cancel this order, simply click the red x and your order will be canceled.  If you don’t cancel your order your BTC will be held until the order is completed at the rate you requested or you cancel the order.

The two other tabs on the balances screen are transfer and dust.  The transfer one allows you to transfer your balance to another account on Cryptopia, while the dust button zeros out your balance.  This can be useful if you don’t want to have a bunch of partial coins in your accounts.

So there you have it, your first trade on cryptopia! Was this helpful to you? Let us know in the comments or on our discord!

 

News Reporter

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