Quidax is a cryptocurrency exchange that focuses on the African markets. The platform works so that trading in exchange is done in a simple, convenient, and secured platform. On this platform, you can buy, sell, send, and receive cryptocurrencies quickly. The purchase of crypto assets can be done using the local Nigerian currency.
What Quidax stands to do is bringing humanity forward in Africa by confronting the continent’s financial status quo. The platform wants to achieve this by creating and establishing possible solutions that will terminate all the barriers to economic development by trading cryptocurrencies and educating the masses about digital trading currencies’ value and integrity.
Quidax provides so much ease for buying and selling cryptocurrencies as it can be done within five minutes.
History of Quidax
Quidax was founded in 2018 with the exchange expanding its operations in Africa in 2019 after alpha sampling. Since its entry into the African market, Quidax has been able to gain a chunk of the market share and is one of the most popular exchanges in Africa.
Benefits of Transacting with Quidax
- Reliability and trustworthiness in services
Quidax have proven to be excellent in convincing doubting and naive people about cryptocurrency value. The platform also provides the needs of investors by creating a dashboard used for different cryptocurrency assets.
On the dashboard, you can buy and sell instantly, wallets for seven digital currencies and a fiat currency are provided, API for developers, and a “real-time trading platform.” Quidax is as flexible as other renowned exchanges, and this makes it distinct amongst other local exchanges.
- Good customer care services and fair transactions charges
Quidax provides the fastest and best customer service. Quidax responds faster through its support channel, where you will input your complaints. The service is twenty-four hours, and this makes their responses to customers quickly. Quidax is also available on social media platforms and can be contacted on Twitter, Facebook, and Instagram.
These are the only platforms you can find them. Disregard any other you come across, as it is a scam. Quidax so far is the best trading platform for beginners who knows nothing about Trading but want to buy and sell. This type of quick transaction takes payment in naira. The few for these transactions is 1%
How Transactions are carried out on Quidax
Quidax operates in levels. Before buying, selling, sending, and receiving coins can occur, you will have to sign up with a secured profile. This is the zero level known as “No name.” Here you can buy, sell, send, and receive cryptocurrency without limits. Purchases are also done with local currency, but you can not withdraw into your local bank. The levels of operations of Quidax are listed below:
Level one(1) For verifying necessary information
This level is much like the “No name” level. You can buy, sell, send and receive cryptocurrencies limitlessly, but withdrawal into your local accounts is not allowed. Your details like Date of Birth, Nationality, Address, and zip code are required before verification can be done to get to level one.
Level two(2) For verifying BVN
There are limits to level one and if these limits affect you negatively, switching to level two is a good idea. At level two, you will need to verify your BVN (bank verification number). At this level, a user is entitled to daily, weekly, and monthly withdrawal limits of NGN 200,000.00, 1,400,000.00, and 5,000,000.00, respectively.
At level two, you have access to unlimited deposits with your local currency. This level requires your BVN and birth date connected with the BVN. The provision of BVN is for confirming your details given in level one, so you must ensure it is yours. Quidax assures total security of your BVN as it is encrypted and not prone to a third party.
Level three(3): For verifying ID Document
Every level comes with its advantages that why level three will be a better option for upgrade. Level three requires an ID card (government-issued). You will also submit a picture of your holdings paper with QUIDAX written on it with a date. This level has a daily withdrawal of NGN 2,000,000.00, a weekly withdrawal of NGN 14,000,000.00, and a monthly withdrawal of NGN 50,000,000.00.
Level four(4): For verifying Address
This is the last level now, but more upgrades are upcoming for a better system of service. A subscriber of this level enjoys the withdrawal limits of NGN 10,000,000.00. daily, : NGN 70,000,000.00 weekly and NGN 200,000,000.00 monthly. All the uploads of legal documents like a utility bill, bank statement, etc., for verifications, will not be successful if your Address is not shown in full.
The name appearing is different from what you submitted in the previous levels. Level four limits can be maxed out and if you get to this point, kindly contact customer care for further information. The cryptocurrencies accepted on these platforms are:(Bitcoin, Ethereum Ether, Ripple, Litecoin, Dash, and Tether). Deposits are made using the Nigerian naira.
In conclusion, Quidax remains one of the best ways to quickly purchase cryptocurrencies in Nigeria and offers immense features for crypto lovers.
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