Review on Naijacrypto by Inioluwa Okedeji
Naijacrypto: A Cryptocurrency Exchange That Came Through For Nigerians At A Time Of Need.
As a Nigerian, I am really proud to have encountered such an exchange as this, especially in this trying period for cryptocurrency traders in Nigeria. The prominence of this exchange rose as a result of the ban placed on cryptocurrency transactions in Nigeria.
Naija is the short form of Nigeria that Nigerians have coined themselves, so one can call this exchange Nigerian Crypto, but that sounds a little bit awkward.
As I said earlier, I got to know about this exchange based on the recent ban on Cryptocurrencies in Nigeria and because of the ban, withdrawals of Cryptocurrencies into Nigerian fiat became difficult for cryptocurrency traders in Nigeria and the only means traders later resorted to was P2P (peer-to-peer) trading.
It was during this period that a friend told me of an exchange that has found a way to bypass the ban and you can be able to withdraw your cryptocurrencies directly into your bank accounts. I was surprised, shocked and happy at the same time curious as to how that was possible but the news was so good to my ears that I had no choice but to find out about the exchange, what makes it special and it was able to still directly perform transactions to one's bank even with the ongoing ban.
I got the referral link to Naijacrypto exchange and signed up, this was easy as it only required my email address to do so. After successfully signing up, I perused the platform and the interface was attractive in terms of design but in organization and order it seems overcrowded. So I'll give the interface a 6/10 rating. But this wasn't why I registered for the exchange so I really didn't care much about the interface I just wanted to know how it is able to bypass the ban.
I later discovered that the process that naijacrypto exchange make use to bypass the ban was also via p2p, but this p2p is slightly different as it wasn't between different individuals or dealers, it was the exchange itself making use of p2p to transact with users. Having satisfied my curiosity I then made up my mind to give the exchange a trial.
I finally downloaded the app so that using the exchange can be very easy. You can also get the app on Google playstore and apple store.
Naijacrypto exchange also features other services such as futures trading, loans backed by cryptocurrencies and also coin staking among others. And as of now, I can say it's one of the best cryptocurrency exchange we have in Nigeria.
Pros
- The exchange interface is simple and easy to use.
- The exchange supports coins staking, futures trading, competitions and IEOs
- It features an academy section where videos are available to educate newbies on the intricacies of cryptocurrencies.
- It has a mobile app that is available for both Android and iOS devices.
Cons
- The interface of the exchange needs a big improvement as trading pairs and coins listed are all seem jumbled up together making navigation uneasy.
- The international outlook on Nigerian based financial institutions are is not entirely pleasing based on news on fraudulence and scam. I believe this can impact the exchange negatively.
