Cryptopia Doubles its 1 million User Base within a year

By Ravindra Chagetha

Cryptopia, a New Zealand-registered corporation, is the host of the world’s most extensive range of cryptocurrencies and it is a marketplace for a secure place to buy and sell products and services to anyone, anywhere in the world in exchange for the cryptocurrency. Currently, Cryptopia has increased its worldwide user base by 116 per cent since December 2017. The user base has expanded upto more than 2 million users.

The craze for cryptocurrency does not seem to settle even after the gloom predictions of the market. New Zealand-based Cryptopia is actively harvesting benefits of the crypto craze.

The company has over 90 employees in just nine months, and the number in headcount is 389 per cent increase. However, the incredible increase in the number of its user is something of the achievement the company is proud of.

Cryptopia recently welcomed a new sales and marketing director, Raj Wadhera. Wadhera has formerly worked for Microsoft New Zealand as a CMO, and before this, he has also worked as a Head of Business for Vodafone New-Zealand before moving to the UK as Vodafone’s Head of Convergence., his jump to big cryptocurrency exchange. The crypto market hit its lowest since 2017 and, in total, has sunk below $200 billion in September 2018.

The overwhelmingly positive attitude of the citizens and the officials for cryptocurrencies could be the possible explanation behind Cryptopia’s unparalleled growth. Australia’s cryptocurrency user population has seen a threefold increase in number. Around 13.5 per cent of them owned crypto in August, compared to just five per cent when the same study was conducted in January.

The study results showed that almost 80 per cent of its respondents would use cryptocurrencies for their day-to-day purchase only if they were easy to use as Australian dollars.

Bitcoin has had market dominance in 2018, increasing from mid 30% range in January to around the mid 50% range now but this has not been able to reach anywhere near the value it had at the start of 2018.