Nowadays, new crypto exchanges are appearing more often, offering users the most extensive opportunities to work with cryptocurrencies. One of these platforms is the Cryptopay service in England and Wales, company number: 08730592, whose registered address is in the UK.
The official registered address is 8 Devonshire Square, Spitalfields, London, EC2M 4PL. Cryptopay LTD operates by the rules of money laundering, terrorist financing and transfer of funds regulations, and even law on electronic money.
Today, this platform has flexible management, due to which the users can easily configure the necessary options. Moreover, with the help of specially designed payment cards, everyone can work with their funds. In general, Cryptopay is a worthwhile England and Wales company. If you need to know the pros and cons of all services, read on!
On the company’s website, you can see information about the FCA and similar subsidiaries. It is noteworthy that FCA, CPS Transfers Limited is registered in England and Wales – company number: 10311113, whose registered address: London, EC2M 4PL. CPS Transfers Limited works by the FCA, under the Payment Service Directive, FRN: 776056, as a Small Payment Institution (SPI).
Cryptocurrency exchange overview
Any crypto platform has its drawbacks and advantages because there are no perfect exchanges as of now. In some ways, Cryptopay also loses out on some indicators, which you will learn about later.
Below is the basic information about this service.
1) Key data
Cryptopay is an exchange service that appeared in the UK, 2013. This company, registered in England, works primarily with bitcoins but supports three more common types of cryptocurrencies:
The reviews about the platform on the web are generally quite good. Cryptopay is probably a profitable project, despite the lack of official status. By the way, London is the center of the financial industry with cash flows and a developed banking system. Therefore, it is not surprising that the United Kingdom became the cryptocurrency’s place.
2) Convenient tools, programs, and mobile app
Cryptopay is very convenient. Thanks to the knowledge base, you can get step-by-step instructions in your account for almost any action on the resource (registration, verification, purchase, sale, replenishment, withdrawal, connection to the partner program). In addition to the exchanger, the platform features allow you to connect a free crypto wallet for “hot” storage of virtual currency.
This platform provides users with opportunities to work with crypto assets anywhere in the world. At the same time, the company is responsible for the security of your funds. The company has an official website, where you find all information about projects and exchange rates.
In general, to start using the platform’s services, you need to register. Do not be afraid to sign up because this procedure allows you to dispose of funds at your discretion and without any difficulties. Create your password and username so that scammers can’t hack you. Upload all available information and get started. What else useful does the service offer? All people can use the mobile app with an understandable design and navigation. You will not get confused in the search for the necessary material. Thanks to this option, you get all the tools for making payments and settlements, regardless of the time.
Thus, for the Android system, you need to click on this link to download the program. Click the start button and install the app because it is easy to do. If you are the owner of an iOS device, you need to click on this link and upload the adapted app.
3) Financial conduct authority, FCA, CPS transfers
Now let’s look at the various programs that this service offers to users.
- Flex Accounts
- Cryptopay MasterCard
- Cryptopay virtual card
- Money transfers
- Prepaid contact card
So, let’s start reviewing the options of the Cryptopay service. Firstly, Flex accounts are an advanced system for buying, selling, and storing bitcoin tokens with increased security and privacy. No hacker will break into your system and steal your funds, so you do not have to worry. At the same time, the wallet supports working with fiat currencies (euro, sterling, and dollar). Each person may top up their account through the following payment systems: UK FPS, SEPA, or transferring funds to a bitcoin address.
Secondly, the option to work with bank cards also allows you to manage money. You can either top up your account or withdraw funds to your card. However, verify all data in advance and exclude risks. Finally, the virtual card of the service is another convenient method of working online. Thanks to this feature, you can perform operations, top up your accounts, and buy cryptocurrency.
Another vital point, consider the visa card. For instance, the c.pay Visa prepaid card is issued in the UK and is available to everyone. You can order the UK your c.pay Visa in any store, both online and offline. It allows you to pay in euros, pounds sterling and dollars. The disadvantage of such a card is only inexpensive maintenance.
It is worth noting that the c.pay visa card is a product of PayrNet LTD, pursuant to license by Visa. PayrNet Ltd is authorized by the Financial Conduct Authority to conduct electronic service activities under the Electronic Money Regulations 2011 (ref: 900594, CPS transfers LTD).
4) Programme Manager Cryptopay Ltd
CPS Transfers Ltd is the Card Programme Manager Cryptopay. This Cryptopay is the Card Co-Brand. Please note the Visa card is an electronic money product, and although it is a product regulated by the FCA, it is not covered by the Financial Services Compensation Scheme. We ensure that any funds received by you are held in a segregated account so that in the unlikely event that PayrNet Ltd becomes insolvent, your funds will be protected against claims made by creditors.
In the EU, your c.pay visa card is issued by UAB PayrNet (license by Visa). UAB PayrNet is authorized by the Bank of Lithuania to conduct electronic money service activities under the local law or regulation and the Electronic Money institutions (license reference 72). CPS Transfers Ltd is the Card Programme Manager.
As for money transfers, you can make them anywhere since the platform does not assume a particular country or jurisdiction. Transactions are instantaneous at the click of a finger, and the platform’s fees are affordable. Finally, the partnership within the company also opens up new horizons for profit. If you are interested in cooperating with the company, the team will consider your suggestions for optimizing the activity.
Summing up, the Cryptopay online platform is a universal service for the operation and control of cryptocurrency. Benefits such as high security and fast money transfers will reduce your time to understand the processes.
Pros and Cons of the service
As noted earlier, there are no ideal online platforms for trading cryptocurrencies. This service is no exception to the rule.
For a more detailed analysis and evaluation of the exchange, it is necessary to understand why Cryptopay stands out among others.
The main advantages of Cryptopay are the following indicators:
- Minimum transaction fees
- Use of Crypto Coins and fiat currencies
- Intuitive interface and easy navigation
- Availability of international payments
- The useful app
- Convenient cryptocurrency management format
However, some users highlight the disadvantages of the Cryptopay service. In particular, people are dissatisfied with the mandatory payment for the issuance of the card and the monthly service fee.
Payment card system
Even if the company offers cryptocurrency management services, it is necessary to minimize the costs. For this reason, Cryptopay offers consumers their debit cards. With a debit card, you can pay for goods and services anywhere and anytime. Just imagine how this method saves you energy.
There are two variants of such cards:
- Plastic cards
- Virtual cards
The order of such cards is made through the official website and stores, paying a specific fee. Perhaps the best advantage of using such cards is delivered anywhere in the world. For instance, delivery to European countries takes about five days, to other countries-about ten days. The payment is approximately $ 70 to $ 75, so do not neglect this opportunity.
Obligations and requirements
Read the terms and conditions carefully before using this service. Users who have passed verification can top up the card up to 20,000 conventional units per day. Otherwise, the limit is no more than 2500 euros or dollars for the entire period of ownership. For bank withdrawals, the fees are about 2.75 euros or $ 3.5. The daily withdrawal limit is up to 1000 conventional units for registered accounts and 200 for regular users. You can only cash out twice a day, no more. Therefore, it is better to verify your data.
Referral program for clients
Surprisingly, even Cryptopay offers its users a referral program for cooperation. The program allows you to earn extra money when you connect with new customers. To get tokens, you need to register in the system as a partner and invite new users. The more active you are, the greater are your earnings and rewards in the form of tokens.
Moreover, you can receive bonuses for actively promoting the Cryptopay project in social networks if the result is the user’s joining the system. By the way, you do not need to pay fees and other types of contributions for such participation.
You only need to share your referral link with other people. The new user enjoys a one-time discount of 25 percent when issuing the card. You, in turn, receive 10 percent of the revenue from all fees and commissions of new members. In general, this is a common phenomenon of the network business.
Platform team and help
In addition to the above functions, it is also worth mentioning the specialists responsible for launching this service. Firstly, Georgy Basiladze is a specialist in finance and analytics. He is one of the developers of the Cryptopay system. Dmitry Gunashov, a specialist in working with blockchain technologies and payment systems, also worked on the project. In general, all the information is provided in the section “team here Cryptopay LTD.”
The future of Cryptopay
According to the developers of the service, the future of Cryptopay seems to be quite successful. The team plans to expand the functionality of the exchange and introduce new options for users. Customers will receive a wide range of tools and payment systems, so you should think about registering now. In addition, the developers promise to implement P2P operations. Within this system, you will be able to make various transactions using the main account.
On the other hand, choosing a crypto exchange is not easy since the number of sites is growing daily. Among these systems, users can easily encounter scammers. Therefore, carefully follow the news and reviews of the exchanges, and check all the terms and conditions.
Is Cryptopay a wallet?
Cryptopay has a fairly wide range of options, including a wallet. Thanks to the online wallet, you can buy and sell currencies, as well as keep your funds safe.
Where is Cryptopay based?
Officially, the company is located in the United Kingdom. On the company’s website, you can find the legal address and subsidiary stores. This service is a London-based product. In general, those users who live in London are doubly lucky.
How do I get a Bitcoin debit card?
Each customer can get a debit card for the service. The Cryptopay card is ordered in the user’s account. To do this, you will need to verify your identity. There are only two cards to choose from: a plastic card and a virtual card. Unfortunately, you will have to pay a certain amount for the card. The Cryptopay site also sets limits on various card transactions. Their size depends on the currency and the operation being performed.
How can I send Bitcoins instantly?
As already mentioned, in addition to keeping your funds safe, you can also make transfers. The algorithm for money transfers is simple. To do this, you need to set up your account and pass verification. Next, you select a specific amount and transfer the funds. Cryptopay service processes transactions in seconds around the world.