Review on Mubadil by Stephen Toluwani
With it's gaze on Pakistan, Mubadil has little that it can offer us who don't reside in Pakistan
Mubadil is essentially a Peer-to-peer crypto market for the exchange of Cryptocurrencies and it does this by directly connecting the merchants of the wanted coins to their potential buyers on its web platform. Currently, the only supported Crypto on the exchange is the Pakcoin and it can be purchased using banking methods or other Crypto deposits like USDT and Ethereum among others. The onboarding process of joining this exchange was a smooth one and then moving unto it's open orders, I came to see that the number of available orders are very limited which indicates a small number of users on the platform. Probably the small number of traders on its platform is due to the fact that it only supports Pakcoins and not even including some of the major cryptocurrencies could be a contributing factor and the installment of this said cryptos will surely go a long way in assisting the exchange gain more popularity and users. The exchange charges no fees at all and the only fees users might be required to pay might be the transaction fees of their corresponding blockchains. This indicates a strong sensation of absolute decentralization and no interference or control by a third party, except that the transactions are open to scrutiny
The fact that the merchant has to verify the transaction made to his account before crediting the buyer makes one look at how Credible such a business model might be in the long run and also the time it takes to execute such transactions will be longer. The exchange has nothing much to offer to the outside world in general but it has fixated it's view on the Pakistan Crypto community and makes it an ideal exchange for the region. Other than residents of the region, Mubadil isn't really ideal for the outside world yet, all the same, it still accounts for a good P2P cryptocurrency exchange
Pros
- The Mubadil exchange allows for easy and direct purchase of cryptocurrencies from merchants without charging intermediary fees. This shows how Decentralized it works as there is no third parties facilitating an exchange and would therefore require a fee to process their transactions
- The User Interface of the Mubadil P2P exchange is one that is easy to navigate and understand how to operate
- Email messages related to Accounts to which one will send funds to are usually under a minute and this helps to make this transactions faster
Cons
- Requires confirmation of transfer before the merchant can transact the purchased Crypto. This slows down the whole process
