Blockvila Review 2021: A Guide To One of The Oldest Exchanges In Nigeria

0
67
Blockvila Review 2021: A Guide To One of The Oldest Exchanges In Nigeria

Blockvila is a Nigerian-based cryptocurrency exchange formerly known as Ngexchanger. The head office is located in Port Harcourt and has been operating for about four years now. The company is registered with the CAC with the registration code BN2491541. The exchange is a subsidiary of Nyxel integrated services. Blockvilla allows its users to be able to buy and sell cryptocurrencies and e-currencies.

HEADLINES

In 2020 Blockvila launched a service that is the world’s first profit-sharing and cashback P2P exchange known as Blockvila P2P. It also launched a native cryptocurrency known as VILA and started offering Bitcoin mining services in 2020.

Benefits And Features Of Blockvila

  • Buying and selling

This blockvila feature allows you to buy and sell different cryptocurrencies and e-currencies. After a transaction, you get credited instantly without delay.

  • Multiple cryptocurrencies and e-currency

Blockvila supports numerous cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple, Ethereum classic, etc. It also supports the e-currency known as perfect money but only supports the use of one fiat currency, the Nigerian Naira.

  • Payment method

Blockvila allows the use of cash deposits, ATM transfer as the payment method on the platform.

  • Swapping

This feature allows you to be able to swap any of the platform-supported cryptocurrency with another.

  • Referral program

You are allowed to earn on the platform by inviting people to register and use the platform to carry out transactions. You earn a bonus of 50 naira whenever someone registers with your referral link, and whenever they make a transaction, you receive a bonus of 0.5% to 1% of the person’s total transaction.

  • Cashback Bonus

This recently added feature enables you to earn a cashback of 18% of your transaction fees every three months.

  • Leaders Benefits

This is also a recent feature added to the platform. You can become a leader on Blockvila when you are one of the top 5 highest traders or referrer every quarter of the year. The platform shares 20% of the transaction fees earned with the leaders.

  • Security

The platform provides a high level of security. All the communications carried out on Blockvila are encrypted, and their wallets are kept offline on both and cold storage.

  • Customer support

Blockvila provides its users with different means to contact them when facing any difficulty with the platform. Blockvila support can be contacted via email at info@blockvila.com, support@blockvila.com, or through their direct customer service phone number or Whatsapp account.

How Does Blockvila Work

  • Registration

You have to register through the website www.blockvila.com. The exchange does not have a mobile app, so visit the website and fill the registration form with all the required details to sign up.

  • Wallet

The exchange also serves a wallet where you can store the cryptocurrencies supported by the exchange without sending them to an external wallet.

  • Transaction fee

There is a transaction fee of 50 naira attached to every deposit made on the platform, and it charges a trading fee of 0.6%.

  • Transaction limit

When you register with Blockvila it is either you verify your account or not. The unverified account has a transaction limit of a minimum of $20 and a maximum of $1000 a day, while the verified account has no limit to the number of transactions it can make in a day.

  • Verification

To avoid a limit to the number of transactions you can make in a day, you need to verify your account. The documents you will need to upload to verify your account include a government-issued ID card and residency proof. It usually takes about 24-48 hours for an account to be successfully verified.

How To Use Blockvila

You can sign up at www.blockvila.com to gain access and use the platform.

BlockVila- A reliable exchange but could do with a mobile app

Blockvila is an exchange that is user-friendly and has a lot of benefits and means of earning for its users through the cashback bonus and referral program. Although the exchange is reliable, Nigeria is the only country supported for now, and it has no mobile application yet.

Checkout similar articles on crypto exchanges

Quidax Vs Luno: Which Is The Better Cryptocurrency Exchange In 2021?

Bundle Africa Review – Africa’s Bespoke Crypto Exchange

Quidax Review (2021): An Easy Platform To Buy Cryptocurrencies In Africa

You can also follow us on our Telegram and Twitter channels