When I first heard about bitcoin in 2013 I couldn’t tell how to buy/sell bitcoin. I liked the idea of being able to send digital currency to anyone in any country. Although it seemed like buying it would take a long process so I ditched the idea. I wish I hadn’t. I would have cashed out in December 2017 but reminiscing is not the point of this article. It wasn’t until sometime in January 2018 that I decided to buy cryptocurrency and I decided to go for Ripple’s XRP because it aimed at solving the issue of remittance.
Buying it was a long process, which didn’t make sense to me long story short it set me on a path to find the best cryptocurrency exchange in Nigeria to buy/sell cryptocurrency.
My selection of the best cryptocurrency exchange in Nigeria is based on the following: Easy of navigation, Support, ease of Withdrawals (24 hours and weekends), and Number of cryptocurrencies.
Based on the above I arrived at Quidax as the best cryptocurrency exchange in Nigeria, here
Easy of navigation
Whether you are a novice or an expert in buying/selling cryptocurrency you need a platform that is easy to use. When I say easy to use these are the questions I ask
- Does the website open across all major browsers (Chrome, Firefox, Edge and Safari)
- How long does the website take to load
- Is the website mobile compatible? Can you perform any and all transactions with your mobile phone without having to switch to a laptop/desktop?
- Are the icons and names easily recognisable?
- How easy is it for anyone who has no idea about cryptocurrency to start
- How are the aesthetics: are the colours, objects and animations used, easy on the eye?
After listing out these questions, comparing and using a couple of platforms platforms, Quidax stood out.
This is critical for people on either side of the coin (novices and experts), you need to be able to trade cryptocurrency fast and easy but when you experience a problem it is important that you are able to get the kind of support that you require at short notice and at any point in time.
I have used a couple of exchanges and in terms of support Quidax has the best support I have seen, their support team is 24 hours. So I tend to feel safer using them knowing that when an issue arises all I need to do is report it and in minutes it usually gets resolved.
Ease of Withdrawals
Remember when you could only get money from the bank during weeks and between the hours of 8 am – 3 pm. Thank goodness for 24 hours banking and ATM.
In selecting a cryptocurrency exchange you don’t want one that restricts you by day or time on when you can receive your withdraws from your local currency (naira). You need to be able to get your funds whether you make a withdrawal at night, at weekends or during public holidays. For this Quidax again ticks the box.
Number of cryptocurrencies
Bitcoin was the first cryptocurrency and while it usually has more than 50% of the total crypto market capitalisation, you want to be able to use other cryptocurrencies because of the problems they solve and their use cases. Currently, a couple of platforms available to Nigerians only allow users to trade just one or two cryptocurrencies. Quidax currently allows users to buy/sell/send/receive 7 cryptocurrencies.