Review on Naijacrypto by larei bello
With just little publicity, this exchange can sit at the top of international market
As an a trader of cryptocurrencies i have been so used to trading on foreign exchanges mostly from Singapore, United Kingdom and even Estonia or Malta. But I was however impressed seeing an exchange from the lands of Africa. As a Nigerian trader, i was excited when i discovered that the exchange was even from Nigeria. The exchange comes with a nice and intuitive interface for trading. It is still however unknown whether the exchange is centralized or decentralized. Launched in 2019, Naija Crypto offers alot of trading features like easy registration, amazing security, nice fee structure, Diversity in the cryptocurrencies supported, customer support, P2P trading, deposit method. All these features i experienced will be explained as i proceed in my review.
1. Ease of registration and KYC verification⭐⭐⭐⭐⭐: Well, this exchange deserves a five-star for that, registration here only requires few details, in a matter of seconds your account will be created and activated and ready for you to start trading on. For the KYC verification, it is also a five star process, the KYC verification process will help you to make withdrawals and help the organisation know that they are feeling with a legal trader. For the KYC, only my full name, home address, city, state, nationality, and government approved document with a picture of selected documents. After following the procedure, i was verified in less than three hours. This is a considerable time for a KYC verification to be approved.
2. Amazing security⭐⭐⭐⭐: This is a very good rating in terms of the security offered by the exchange. With the the introduction of two-factor-authentification, email verification and the adoption of cold wallet storage, users can be assured that their funds are in secure units. However, i believe there are still some security features like military grade encryption that can be implemented inorder to make the exchange a secure place.
3. Nice fee structure⭐⭐⭐⭐: I can assure you that trading here comes with no regrets, especially in terms of fees. NaijaCrypto charges a very low fee of transactions, going as low as 0.1% for every transaction. While some exchanges charge some fees for deposit, NaijaCrypto doesn't do that. The withdrawal fee has been moving up and down recently, but most it has been 0.001 BTC which is just okay!
4. Diversity in Cryptocurrencies supported ⭐⭐⭐: Though the exchange supports multiple cryptocurrencies, it is still relatively low when compared to exchanges like Binance which trades over 200+ coins. Well, Bitcoin, Ethereum, Tron, Ripple, Litecoins, Tether, ChainLink are some of the examples of cryptocurrencies traded here on NaijaCrypto.
5. Customer Support⭐⭐⭐: The customer support offered on Telegram is very good and reliable, the admin on the Telegram group does his best to analyse every complaint by any user and gives them the best answer possible. Not only does he give accurate answers, the admin is also fast in response and not hostile.
6 P2P trading ⭐⭐⭐: Recently, there was a ban on cryptocurrencies in Nigeria, making P2P trading the next option for traders, i have not really checked out the speed of the P2P trading yet, but i am confident that ot is going to be a good substitute for market orders.
On the contrary, the speed of withdrawal is not very palatable, most times i have to wait for over six hours to be credited this is very bad. Even the popularity of this exchange is another trust issue, this exchange barely has 600 user on Telegram, this feature might not read well for the exchange as alot of investors are looking for exchange with clean amd clear features.
Pros
- The positive aspect of the exchange as they relate to my personal experience have been well explained in my review
Cons
- The time of withdrawal is my main problem on this exchange
- The exchange isnt popular internationally
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Comments (2)
February 22, 2021
The user interface is very nice, i am very much impressed with my nation for bringing up an exchange like this,. Trading here was a lot of experience for, like P2P trading system which i just got to know about. This exchange needs to broadcast its services more
February 22, 2021
I would have loved to go in with my review but i am still currently using the exchange to know more about it. It eve has its own referral program and even native token NairaX, this is a very big step to becoming a world class exchange
