Chip Chap Exchange Review: Full Analysis

/Chip Chap Exchange Review: Full Analysis

Chip Chap Exchange Review: Full Analysis 2018-05-22T15:58:06+00:00
Chip Chap Exchange Review: Full Analysis

Chip-Chap Review: Full Analysis

Quick inner navigation:

  1. What Is Chip Chap?
  2. Trading on Chip-Chap
  3. Is Chip Chap Safe?
  4. How to Use Chip Chap

Cryptocurrencies, such as Bitcoin, would not be able to be so helpful and effective nowadays, without the existence of the cryptocurrency exchange platforms, cryptocurrency ATMs, along with the services provided by a number of different ecosystems. All these platforms together help the cryptocurrencies show their unique features and advantages over the traditional financial methods that have been around for ages. Chip Chap is a platform that brings together multiple great things about Bitcoins, traditional methods and various technological advances on the same table. This way it manages to create a lot of chances and opportunities for its users.

What Is Chip Chap?

Chip Chap is a Spanish multicurrency exchange platform which is revolutionizing the banking concept. Chip Chap enables a communication among various systems of payments. This company is aiming to be more than a simple exchange platform for its users and for that reason it offers various financial management tools. The majority of these tools are suitable not only for individuals but also for different kinds of businesses.

Chip Chap started out as Entropy Factory to aid start-ups that focus on issues concerning socio-economic. Since then, it has developed into a cryptocurrency platform. Currently, Chip Chap is offering a cryptocurrency wallet, an exchange that supports not only cryptocurrency but also fiat money, payment systems that support a wide range of options and a personalized customer support that is supposed to help out the users with any matter.

Chip Chap’s services

  • Payment Systems: You can manage different payment methods like web apps, bank cards, mobile apps, contactless cards or POS.
  • Wallet: As a user, you get to safely keep your money and quickly access it through their cross-platform mobile and web apps.
  • Exchange: You can buy and exchange Bitcoin for euro or other currencies.
  • Bank Transfer: Available both nationally and internationally as the widely supported method of payment.
  • Developers API – API stands for Application Programming Interface and Chip Chap gives the set of functions and procedures that help with authentication, give the public, private, user, swift APIs and so on.
  • Commerces Panel – the users of Chip Chap get a chance to convert digital currencies into cash and use it in commerce stores, as well as withdraw cash at various ATMs and stores.

Chip Chap App

It allows people to exchange currencies no matter their geographical location. Swift App supports EasyPay, Teleingreso, Bank Transfer, Virtual Bank Card, Hal Cash, along with Paynet.

Chip Chap app is available on both App Store and Play Store (for iOS and Android). As a user of the app, you will be able to exchange your money between Paynet, PaySafeCard, Bitcoin, as well as HalCash. The available conversions are as follows:

  • Bitcoin to HalCash – this way you may withdraw cash from more than ten thousand ATMs in Poland and Spain alone.
  • Paynet to Bitcoin – this is a good option for those people who live in Mexico. It lets users buy Bitcoins directly from the Mexican shops that are connected to the network of Paynet. Then those generate the barcode through the app. This way the users find out what are the closest shops for getting the bitcoins.
  • Bitcoin to Virtual Visa Credit Card.

Finally, you can trade your fiat currency for BTC, and then convert their BTC into vouchers. This process works in countries like Mexico, Spain, England, France, and Poland. Every conversion can be done using your smartphone. In addition, you also have a choice to cash out your vouchers at their partner ATMs.

Trading on Chip-Chap

Limitations

The Spanish company mainly supports users from Spain, Poland, Mexico, England, and France. Neither on the official website nor on forums where Chip Chap users discuss the platform, are mentioned any facts regarding the permitted transaction limits on this platform.

Fees 

The fees vary mostly depending on the method of payment you choose to work with. For instance in case of Virtual Bank Card, there is no fixed fee, however, the variable fee is 2 %. It is worth mentioning that in case of the Virtual Credit Card, 2 % of the total value goes to provider fees. In case of EasyPay, there is no fixed fee as well and the variable fee is 5%. Please note that the availability of payment methods varies from a country to a country.

Is Chip Chap Safe? 

  • Community Trust

Chip Chap has been around for quite some time and has managed to gain the attention of many cryptocurrency enthusiasts, especially in the countries where the platform is supported. However, on forums where people discuss various cryptocurrency related websites and products, some people have been reporting negative experiences with the website. This has resulted in the creation of doubts towards the platform. All in all, the company is registered and seems to be legit.

  • Security

Chip Chap provides a secure and encrypted SSL platform for making transactions along with a transfer of information scalable. The app also complies with international Anti Money Laundering and Counterfeiting Financial Terrorism laws. The participation of third parties is eliminated, however, Chip Chap follows the global financial laws.

  • Customer Support

The company ensures that their customer support employees always reach out to the customers who need help and many users are happy with it. However, it is not always the case as there are some users who are not very satisfied with the service that the customer care center has provided. Some of them claim that their issues were not solved well enough. The company uses the ticket method to be able to keep on track with the questions addressed to the team. Also, Chip Chap is available in multiple languages, which is also very helpful for people who come from different parts of the world.

How to Use Chip-Chap?

The e-money converter supports different payment options and vouchers. Once you logged into your app to make a new transaction, you will see a Bank Card option alongside cash in and cash out options. Simply enter the amount of BTC (in Euros) you want to send to your BTC address. You need to follow the instructions as per the provider of your credit card.

When it comes to vouchers, the platform supports payment networks that work in Mexico, France, Spain, and England. You can use Chip-Chap in about 400,000 stores worldwide that accept this kind of alternative payment method and support the app’s API. You are only required to have a connection and the app for your smartphone to make conversions.

If you are a user in Poland or Spain, the app leverages an existing network of ATMs that accept vouchers once you have converted into their system of payment so that you can cash out your BTC at these ATMs.

Pros of Using Chip-Chap

  • You can use BTC transaction to convert a certain currency to a similar value.
  • The team is increasing the number of their Bitcoin ATM partners rapidly to correspond with the increasing number of BTC users and the need for the Bitcoin ATMs.
  • They give first-time customers a test view of their BTC applications.
  • They have partnered with HalCash, an ATM service provider that lets you make transactions via their ATMs using only your mobile number.

Cons of Using Chip-Chap

  • Although Chip Chap crypto offers good services, there are still plenty of problems in terms of providing users from around the world with access.

In a Nutshell

Chip Chap is one of the most trending BTC services provides in the countries where it is supported. Moreover, the platform provides a good influence on their economies. The shift from traditional currency to BTC is evolving and more and more people are becoming interested in it. So far, the platform is one of the best providers of BTC offering safe and secure transaction options. It provides you with ways on how the money can be used in the near future as well as an easy way to access Bitcoin services by making them available through ATMs, stores and numerous other ways.

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