Review on Naijacrypto by Thalhat Tee
Looking at the KYC on Naija Crypto
Naija crypto is an online cryptocurrency and digital assets exchange platform. I was indeed joyous to see an exchange springing out of Africa most especially Nigeria. The exchange is regulated by corporate Affairs Commission. The exchange utilises cold storage to ensure that users funds cannot be stolen by thieves or hackers. The exchange has simplified registration for users only a few information is needed to open a basic account. However, my review is going to be baaed on tje KYC verification process as every other part of this exchange has been covered by other authors who wrote on this exchange before me.
After users register on this exchange, you can make your deposit but you can't withdraw until you undergo the KYC verification process. The KYC actually involves providing more detailed information about yourself. Here i was to provide my full name, house address, city, state, country, and finally a picture of my National Document with the front and back sections uploaded. After submitting all those infirmation, i had to wait for about 18 hours before i recieve my first error message stating that the files uploaded weren't clear enough, so i did it the second time and i was finally verified, this time it was under 4 hours. So in general terms, i would term the KYC verification time on this exchange as fast!
The fees on this exchange is also very enjoyable only a fee of 0.1% is attached to every transactions. Bit the negative side to this exchange is the fact the exchangehad very slow transaction time most of the transactions on the exchange usually took a long time like 20 minutes. Even while i made my first deposit, i had to wait for almost an hour before it reflected on my account
Pros
- The exchange has a nice interface
- The trading fee is considerably cheap
- The exchange trades multiple cryptocurrencies like Bitcoin, Ethereum, Litecoin etc
- The exchange has its own token, NairaX
- The exchange makes use of 2 factor authentication by email or Google Authenticator
Cons
- The transaction speed isn't favourable for trading
