Bitpapa

Bitpapa is a cryptocurrency exchange. The company entered the international market in 2018 and since then has experienced significant growth. At the beginning of 2020, the website launched its own Telegram bot called BitpapaExpress.

In this review, we will take a closer look at the opportunities the project offers its customers and find out if Bitpapa is a scam or a reliable exchange for cryptocurrency trading.

 

Why Bitpapa?

Bitpapa is a marketplace for p2p exchange cryptocurrency. The platform appeared on the market only three years ago and has been rapidly gaining popularity. The company focuses on the international market, so the website is presented in two languages. The main office is located in the UAE, where it is regulated. The platform allows customers to exchange dollars and euros for Bitcoin or Ethereum. The service supports popular payment systems and banks. The advantage of the company is an automatic Escrow system. This means that the platform acts as a third party, which automatically blocks cryptocurrency before the counterparty confirms the fiat transfer. The platform will be suitable for both experienced users and beginners, thanks to its user-friendly interface. As such, there is no terminal on the site, so the trader will not need additional time to understand the functionality.

There are mobile applications available for iOS and Android devices that allow users to easily access the platform’s features from their smartphones. In addition, the exchange has developed an interesting and informative blog for its clients. This blog provides users with information about cryptocurrency, mining, tokens, recent events, and company news (Cryptocurrency Trading Training). Among the main advantages of the exchange are:

• simple and convenient platform,
• security,
• informative blog,
• multilingual version of the website,
• loyal commissions,
• API,
• referral program,
• fast cryptocurrency exchange.

 

How to Exchange Cryptocurrency on the Bitpapa platform?

To make a currency exchange, the user needs to register a profile and confirm the email address. Then go to “Buy” or “Sell” and select the appropriate offer from the list. The next step is to send a request to the seller. To do this, fill out a form, specifying the amount of cryptocurrency to sell or buy. After the request is approved, the user can make the transaction.

 

Verification on bitpapa.org

The verification process on bitpapa.com is not available. To ensure the security of your account, you can enable two-factor authentication. To do this, go to “Security settings”, select the necessary tab, and enable authentication. Also, the website users can choose how to verify each other. Thus, one client can ask another to present documents confirming their identity.

 

Deposit and Withdrawal

To top up the balance, the user must go to his profile on bitpapa.com and in the upper right corner, click on the wallet icon. Then you should select the type of cryptocurrency and click on the “Get” button. The address will appear in front of the user, which should be inserted into the e-wallet, from where the transfer will be made.

Withdrawal of Earnings

To withdraw funds from the project, the user should also click on the wallet icon and the “Send” button. Then insert the address of the wallet where the transfer will be made. To withdraw all funds at once, the client can click on “Max”.

Cryptoexchange Commission

The company does not charge a commission for users’ transactions. To withdraw funds to an electronic wallet, the trader will need to pay a commission of 0.5% of the amount. Transfers within the system do not incur any fees. There are also fees for Bitcoin and Ethereum transactions, which depend directly on the network’s load.

 

Bitpapa Bonuses

From time to time the information about various promotions and bonuses appears on the company’s website, bitpapa.com. However, at the moment there are no special offers for users.

Referral Program

For those who want to earn extra income, the service has an affiliate program. Traders can attract new participants to the project using a unique referral link. As soon as the referral performs a transaction, the partner can receive a percentage of the commission amount. The referral program has three levels:

• for a referral of level 1 – 50% of the amount of commission;
• for a referral of level 2 – 10% of the amount of commission;
• for a referral of level 3 – 5% of the amount of commission.

 

Complaints about Bitpapa

Despite the fact that the exchange is young, you can find many reviews from customers. The company has a positive reputation, but there are negative comments about the project also. Of the advantages, traders note the simple and user-friendly interface, loyal commissions, regularity of transactions, and a wide range of payment options. The disadvantages include some shortcomings of the platform and low liquidity.

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Crypto Exchange Regulation

Before you start working on the exchange, you should carefully check the documentation, as well as the legal information about the platform. Let’s take a closer look at how the regulatory issue of the exchange for trading digital assets Bitpapa is handled.

Bitpapa Regulator

It is known that the company does not have any license, but this may be because the website is quite young. On bitpapa.com, you can find all the necessary documentation for users. The contact information and location of the main office are not hidden.

Bitpapa.com User Agreement

The “User Agreement” is the main document with which a trader should get acquainted before the beginning of cooperation with the company. The agreement contains all the necessary information about the rules of trading on the platform, as well as the rights and obligations of clients and organizers. Let us consider some points in detail. The agreement specifies the information that the company provides clients with the opportunity to publish, link, store, share and otherwise provide information, text, graphics, video, or other materials. The user assumes full responsibility for the content they post to the service, including its legality, reliability, and appropriateness.

By posting content to the site, the trader grants the company the right and license to use, modify, publicly perform, publicly display, reproduce, and distribute such content within and through the service. The client retains all of its rights to any content that it submits, publishes, or displays on or through the service and is responsible for protecting those rights. The user agrees that this license includes the right for the organization to make the content available to other users of the service who may also use it by these terms.

When creating an account, the client undertakes to always provide accurate, complete, and up-to-date information. Failure to do so constitutes a breach of the terms and conditions, which may result in the immediate blocking of the account on the exchange. The user accepts the fact that he is responsible for protecting the password he uses to access the service, as well as any actions performed under his password, regardless of whether the password is used by the user himself or by another person. The client agrees not to disclose his password to any third party. He must notify the company immediately if he becomes aware of any security breach or unauthorized use of his account.

The platform may contain links to third-party sites or services that are not owned or controlled by the Exchange. The organizer has no control over and assumes no responsibility for, the content, privacy policies, or practices of any third-party sites or services. The User acknowledges and agrees that it shall not be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any such content, goods, or services available through any such sites or services.

The organizer has the right to close or suspend any account immediately, without prior notice or liability, for any reason, including without limitation, if the customer violates the terms and conditions. Upon termination of the account, the user’s right to use the service is immediately terminated. If a customer wants to close his or her account, he or she can simply stop using the service.

The Company and its directors, employees, partners, agents, suppliers, or affiliates are not liable for any consequential, incidental, special, or punitive damages, including lost profits, data, or other intangible losses resulting from:

• user access, as well as the use or inability to access/use the service;
• any conduct or content of any third party on the service;
• of any content received from the service;
• unauthorized access, use, or alteration of transactions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not the organizer has been advised of the possibility of such damage and even if it is determined that the remedy set forth herein has failed of its essential purpose.

The user understands and accepts that he/she is using the platform at his/her own risk. The Exchange is provided on an “As Is” and “As Available” basis with no warranties, express or implied, including implied warranties of merchantability, fitness for a particular purpose, or non-infringement. The Company, its subsidiaries, affiliates, and licensors do not warrant that:

• the service will run smoothly, and securely or be available at any particular time or place;
• any errors or defects will be corrected;
• The service contains no viruses or other harmful components;
• the results of using the service will meet the requirements of users.

Customer Service

You can contact a technical support representative by:

• email: [email protected];
• feedback form;
• social media.

Also, before contacting a technical support representative directly, the user can read the answers to the most popular requests from other customers.

 

Is Bitpapa a Scam?

Bitpapa is a marketplace for the P2P exchange of digital assets. The project appeared on the financial market only in 2018 and continues to develop actively. The organization focuses on the international market, so the official website is presented in several languages. The headquarters is located in the UAE. The company provides traders with not only profitable but also comfortable conditions for trading activities. At the site, you can exchange dollars, and euros for Bitcoin or Ethereum. The advantage of the platform is that it supports popular payment systems and banks. The organization itself acts as a third party between the seller and the buyer. Also, there is no verification, and users can choose their way to confirm their identity for the transaction.

From time to time, various promotional offers are displayed on the website. Additionally, a referral program has been implemented for traders. During the six years of operation, many reviews from customers have already been collected online. Overall, the company has a positive reputation. After studying the advantages and disadvantages of the company, it is possible to conclude that Bitpapa is not a scam or scammer. This is because the exchange operates successfully and in accordance with the law.

 

Conclusion

Bitpapa – is a young exchange for trading digital assets, which appeared on the financial market in 2018. In a short period, the project managed to gain popularity and is actively developing. The site has all the necessary documentation. The main disadvantage of the project is that it does not have a license, but this may be because the company is still young.

Before registering at the site, the user should study all the necessary documentation, because trading is quite risky. If you were or are a client of Bitpapa exchange, leave your independent opinion about its work on our website.