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.
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.
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.
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 firstname.lastname@example.org, email@example.com, or through their direct customer service phone number or Whatsapp account.
How Does Blockvila Work
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.
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.
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.
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