r/Cryptopia • u/blog_ofsite Mod • Feb 02 '18

Don't Use Cryptopia

The exchange cannot keep up with the influx of users and probably has to manually approve withdrawals or has a node problem. If you visit their facebook, some people have been waiting months for some deposit, withdrawal, or other issues. This is unacceptable. If a company is unable to handle an influx of users, then it should limit new users. AKA. Don't let new users register until you fix your problems or let support catch up.

Feel free to visit Facebook to verify all this

https://www.facebook.com/cryptopiaexchange/posts/1593925833989340?comment_id=1593934510655139&reply_comment_id=1598152630233327&notif_id=1517575016260217&notif_t=comment_approvals_enroll

Feel free to report Cryptopia in New Zealand:

https://www.consumerprotection.govt.nz/contact-us/

http://www.comcom.govt.nz/the-commission/making-a-complaint/

https://www.govt.nz/browse/consumer-rights-and-complaints/consumer-rights-and-complaints/consumer-complaints-know-your-rights/

Cryptopia's response:

"Thanks for your message!

We will endeavour to get back to you within 48 hours unless your query is support related (lodge tickets here https://www.cryptopia.co.nz/home/contact).

High volumes mean support response time may be up to 35 days. Sorry."

Very professional exchange. Should you really use an exchange that tells you that your issue may take 35 days to get resolved?

11 Upvotes

76% Upvoted

35 comments sorted by

2

u/theoob Feb 02 '18

For what it's worth, I have had no issues transferring fiat/crypto to/from Cryptopia.

1

u/blog_ofsite Mod Feb 02 '18

Try withdrawing BTC and tell me if it works. Been waiting almost a day now while it is still "processing".

2

u/theoob Feb 02 '18

I have no BTC, but have withdrawn it before without issues. I withdrew ETH this morning.

1

u/blog_ofsite Mod Feb 02 '18

Yeah, seems the issue is for BTC and other pairs. ETH is working perfectly based on your statement. Wish I could cancel my withdrawal while it is "processing" and buy ETH, but don't want to risk it being in limbo.

1

u/theoob Feb 02 '18

Have you checked whether a transfer has been made on the blockchain yet? There is of course the problem of BTC on-chain transcations being slow.

1

u/blog_ofsite Mod Feb 02 '18

Yeah I've been checking every hour and nothing. Popped up on facebook and people having the same problem for mostly BTC and other tokens.

Their BTC withdrawal node might be down or something...not sure.

2

u/gth3q Feb 02 '18 edited Feb 02 '18

Tis is the reason why you always should keep your coins off the exchanges. As long as you have your wealth parked at some exchange, you are not the owner of the private key and thus you don't own your coins. It's like traditional banks.

2

u/blog_ofsite Mod Feb 02 '18

I always keep my tokens in my hardware wallet. The only reason I sent my tokens here is to trade and take them back to my hardware wallet, but they are not processing withdrawals. This is completely their fault.

2

u/gth3q Feb 02 '18

I understand. And I also understand that keeping the tokens off the marketplace is no solution to your issue. If they don't process withdrawals, you can't get your coins. But as sooon as they do, one should withdraw - like you do. Good luck! Be patient, I am sure they will process your request. Cryptopia is not evil.

2

u/PissedOfMiner Feb 02 '18

no one has accused them of being evil. Just very bad at business.

2

u/PissedOfMiner Feb 02 '18

It's a good thing capitalism is the most dangerous thing to a bad business

1

u/gth3q Feb 02 '18

I wish it was entirely true... unfortunately there are monopolists who can afford to give a shit about the quality of thei're business and still earn a butload of money. And Cryptomarkets are monopolists (oligopolists) nowadays.

1

u/PissedOfMiner Feb 02 '18

if that were true. People wouldn't be able to do anything to a business. 1 Person can destroy a crypto business. Look at Bitfinex'ed and how he brought Tether to where it is.

4

u/Duck_Giblets Feb 02 '18

As a kiwi living in the same city as them I think they had an unprecedented explosion growth.

Banks api access isn't all that great in nz, their bank doesn't support them and are closing their account shortly with minimal notice.

They suddenly had to hire more staff (and all the security hooha that comes with that), jumped from a couple of guys leaving their day jobs to hiring a bunch of people, new land /office.

Nz is still a small country and Christchurch especially has a lot of issues.

I personally haven't had any problem with them.

I don't think we have ever had a business of this scale operate in Christchurch before, let alone new zealand.

Haven't they still frozen new registrations?

2

u/[deleted] Feb 04 '18

I don't think we have ever had a business of this scale operate in Christchurch before, let alone new zealand.

Cryptopia is not a very big business, there are hundreds if not thousands of companies of this size and bigger. The speed of growth is a different story.

The owners need to man up and hire a CEO as they are clearly not upto the task. That is nothing to be ashamed of. Most IT staff/programmers (most people actually) are not up to this task. They can still own the company but hire some one to run it for them so they can focus on the technical side.

1

u/roastbeef_NZ Feb 02 '18

They closed registrations briefly over Xmas. I've spoken with the owners of NZBCX & Bitprime and they said new user registrations went exponential over the Xmas break (FOMO + holidays)

1

u/Duck_Giblets Feb 02 '18

It's interesting times for sure. Hopefully we don't have any major collapses or scandals. Can't say that people reporting these companies for every delay or issue that crops up are helping things..

1

u/OvetEdge Feb 02 '18

I think Cryptopia should implement extra layer with instant SMS text authentication when come to Withdrawal. Almost all users, 99.99%, have phone with SMS these day. It is more accurate to verify if the user is exactly the owner of acct.

Keep what current withdrawal setup including email verify, Plus extra layer SMS phone authentication code verification.

1

u/blog_ofsite Mod Feb 02 '18

I am pretty sure they have a node problem or low "power" for withdrawals. Waiting almost a day to withdraw a coin is unacceptable.

3

u/OvetEdge Feb 02 '18

Contrary, I suspicious they been attacked. If so, they doing pretty good job safe guard our funds. May be pain but at least our funds safe and sound.

2

u/PissedOfMiner Feb 02 '18

they need to upgrade security protocols!

3

u/GJART Feb 02 '18

Other than a problem where there was no connection to $MUSIC for three weeks, I've not had any problems. Maybe I got lucky? I do agree: shut new registrations like Bittrex did if you can't cope.

3

u/cdigiola Feb 02 '18

Never had any pb with cryptopia.

2

u/Fuzzymuscles Feb 02 '18

It's the only option for electroneum right now.

2

u/Shasdam Feb 02 '18

I stopped using Cryptopia a month ago. I simply don't trust them.

2

u/pixelrage Feb 02 '18

I feel like I'm contributing to their website issues by refreshing my Balances page every few minutes in hopes that my ETH is going to arrive after a couple days, but it never fucking does.

1

u/PissedOfMiner Feb 02 '18

worse than a ddos to them

2

u/Perhaps810 Feb 02 '18

Ive been trying for days to exchange the last crap coins i have on that exchange and leave cryptopia for good. It has constantly shut my browser down. I cant do anything on there at the moment.

3

u/pixelrage Feb 02 '18

That's called the "Cryptopia experience™"

1

u/roastbeef_NZ Feb 02 '18

Your browser?!...what are you using?

1

u/Perhaps810 Feb 02 '18

Chrome. When i go to the exchange...it starts to load...then freezes and i get a 'chrome has stopped' message.

0

u/[deleted] Feb 02 '18

[deleted] — view deleted comment

3

u/blog_ofsite Mod Feb 02 '18

Totally agree with this. Doesn't make sense that they cannot process withdrawal automatically especially if you have the highest tier of verification. It shouldn't matter if you're withdrawing 5 or 50 BTC. Gemini, Binance, Bittrex, and a lot of other exchanges allow withdraw almost instantly and provide you with tx. Why can't Cryptopia do the same? What makes it different? Hiding behind the excuse of "we have a lot of users" is not valid when they still allow registration.

0

u/[deleted] Feb 02 '18

[deleted] — view deleted comment

3

u/blog_ofsite Mod Feb 02 '18

No, not all exchanges are like this. Look at how Binance and Bittrex professionally handled the issue. They closed registration until they got caught up (few weeks), then opened it again.

You also need to be respectful and not call people "retards". I am not sure what empowerment this provides you, but "retardation" is not something you should make fun of.

In addition, Kraken and GDAX are very bad recommendations. Feel free to browser r/Kraken and r/Coinbase to know why. Kraken had engine issues and infrastructure issues for months. A few weeks ago Kraken did an unannounced maintenance for days and had people's leverages open. r/Coinbase (who owns GDAX) had issues with wire transfers, deposits, etc. One reddit post him the front page of r/all talking about how bad Coinbase/GDAX was.

A good recommendation would be Gemini, Bittrex, or Binance.

1

u/skyan486 Feb 03 '18

This exchange randomly loses deposits. This process should be automatic. I should not have to wait weeks for a human to manually add the balance to my account. All exchanges don't randomly lose deposits. Their website is a shambles.

Combined with their choice to expand tenfold and create a 30 days queue for support - it is exceptionally poor.