PointPay Overview
PointPay launched in 2018 as a combined crypto exchange and financial app. It offers spot trading, a wallet, staking, lending, and a planned debit card, letting over 3 million users trade, borrow, earn, and eventually spend crypto all in one place. Licensed in multiple regions, it covers 50+ fiat currencies through on-ramps like MoonPay and Mercuryo.
What makes PointPay unique
- Crypto-banking approach: Trading, wallets, staking up to 7 %, lending and a future card in one app.
- Fiat coverage: Supports 50+ fiat currencies, linking local cards or bank methods via third parties.
- 200+ coins: Includes mainstream assets plus its own PXP token used for staking and ecosystem incentives.
- Low fees: Around 0.12 % maker/taker, below many global peers.
Highlights & trade-offs
- Highlights: Intuitive UX with quick onboarding, competitive staking yields, broad fiat options, strong user community ratings.
- Trade-offs: Withdrawal complaints, lack of clear reserve attestations, PXP token model sparks skepticism, regulatory paperwork thin.
User interface & experience
PointPay runs Quick, Classic and Advanced modes to suit different users. The app is widely praised for being easy to navigate, whether staking, swapping or managing loans. However, a slice of users reports failed withdrawals that linger unresolved.
Markets & liquidity
It hosts over 200 assets. Liquidity is decent for typical retail sizes on BTC, ETH and top altcoins. Spread widens on less liquid pairs. Fiat is mainly wallet-to-wallet, not direct to bank accounts yet. Futures aren’t a big focus - this is more about simple trades plus yield.
Fees, deposits & withdrawals
Trading costs hover near 0.12 %. Deposits use crypto or fiat on-ramps like MoonPay. Withdrawals often route through internal wallets and can be slow, with complaints ranging from delays to transactions showing as done but never landing externally.
Safety & trust signals
PointPay scores a BBB rating at 73 %, runs 2FA and wallet segregation. No huge hacks are known. But it doesn’t offer public proof-of-reserves or strong insurance disclosures, so heavy institutional users may hesitate. Its PXP token also sees controversy over centralization and pyramid-like criticism.
Who should use PointPay?
- Best for: Beginners wanting one app for staking, trading and lending, global users needing wide fiat support, small savers chasing 5-7 % yields.
Not ideal for anyone moving large volumes who needs bulletproof withdrawals, formal audits or fully insured custody.
How to get started
- Register, verify with basic KYC to unlock features.
- Fund with crypto or use third-party on-ramps for fiat.
- Trade over 200 coins, stake for up to 7 %, or try lending products.
- Use vaults to earn or plan for the future debit card launch.
- Withdraw carefully, testing small amounts first.
Final thoughts
PointPay is ambitious, trying to be a one-stop crypto bank. For casual or global users wanting simplicity, low fees and yield in one app, it’s attractive. But slow withdrawals, unclear licensing depth and a controversial token mean big money might look elsewhere. Keep stakes moderate and watch community reports if you dive in.