What is PointPay?
PointPay is a centralized cryptocurrency exchange and blockchain-based financial ecosystem launched in 2018, designed to provide an all-in-one solution for crypto trading, banking, and payments. Registered in Saint Vincent and the Grenadines, with subsidiaries in Estonia, Lithuania, Turkey, and the USA, PointPay serves over 1 million active users across 200 countries, boasting a daily trading volume of approximately $300 million. The platform supports over 50 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Solana (SOL), Ripple (XRP), Binance Coin (BNB), and its native PointPay Token (PXP), an ERC-20 token used for fee discounts, staking, and ecosystem perks.
PointPay’s ecosystem integrates a crypto exchange, blockchain bank, wallet, and payment system, aiming to make digital asset management accessible to users worldwide. The exchange offers three trading interfaces: Classic and Advanced for experienced traders, with charting tools and order types, and Quick Exchange for beginners, enabling instant crypto swaps in two clicks. The crypto bank allows users to earn up to 8% APY on savings accounts for assets like BTC, ETH, USDT, and stablecoins (USDC, DAI), with daily interest accrual, and provides instant loans using crypto as collateral without credit checks.
The wallet supports secure storage, email-based transfers, and portfolio tracking, while the payment system enables fiat-to-crypto purchases (USD, EUR, GBP) via bank cards, SEPA, Apple Pay, and partners like MoonPay and Transak. PointPay plans to launch VISA-backed crypto debit cards, allowing users to spend crypto like fiat globally. Security is a priority, with PointPay employing bank-grade measures, including 2FA, biometric authentication (face and voice ID), unique payment passwords, and secure payment verification (SPV) for blockchain transactions.
Funds are stored with custodians like BitGo and Fireblocks, and regular bug bounties identify vulnerabilities. The platform’s Lithuanian subsidiary, UAB Orzinga, holds a digital asset license, enhancing regulatory credibility, though services are restricted in U.S.-sanctioned countries and the U.S. itself. User feedback is generally positive, with reviews praising competitive fees (0.05% maker-taker), responsive support, and a seamless mobile app (iOS and Android). However, some users report confusion with the “Avastmarkets” brand in reviews, possibly indicating rebranding or third-party confusion, and others note occasional withdrawal delays. For traders seeking an integrated crypto solution with low fees and passive income options, PointPay is compelling, but its regulatory gaps and centralized risks require diligence.
What are the trading fees on PointPay?
PointPay charges a flat 0.05% maker-taker fee for spot trading, significantly below the industry average of 0.1%–0.2%. PXP token holders can receive up to a 35% discount on trading commissions, potentially lowering fees further. Deposits and internal transfers are free, but withdrawal fees vary by coin and network (e.g., 0.0005 BTC for Bitcoin, 0.01 ETH for Ethereum). Fiat purchases via third-party providers like MoonPay may incur additional fees. Users should verify rates on PointPay’s fee schedule for specific pairs and conditions.
Does PointPay offer leverage trading?
No, PointPay does not currently offer leverage trading, margin trading, or futures trading. The platform focuses on spot trading through its Classic, Advanced, and Quick Exchange interfaces, prioritizing simplicity and accessibility. Traders seeking leverage should consider alternatives like WOO X (up to 100x leverage) or CoinEx (up to 100x leverage), noting regional restrictions. PointPay’s crypto bank offers loans, but these are not leveraged trading products.
