Review on Mubadil by Benaiah A. Akinlade
Mubadil Crypto exchange: Good or Bad? Too early to call
Mubadil crypto exchange (launched 15th of October 2020) is a Peer-to-Peer cryptocurrency exchange that allows the exchange of PAK tokens to fiat currency. The exchange also provides staking and mining services for the PAK token.
The Mubadil exchange has been streamlined in such a way that all the trading you embark on notwithstanding your currency ensures that you can only withdraw your token in PRT token, which is a stablecoin. PRT is a token is only gotten when you sell your PAK tokens to PRT on Mubadil and you can’t withdraw PRT from your Mubadil exchange wallet to any other external crypto wallet.
Although this exchange is showing encouraging signs of aspiring to become a solid crypto exchange, we should remember that it is still very new in the cryptospace so my expectation is not too high at the moment.
More efforts should be made to enable non Pakistani to understand the project. I don't beleive this exchange is providing enough services to challenge other well established exchanges in the cryptospace, but at the same time, it's still early days for the project.
Pros
- The platform UI is relatively friendly and easy to use
- Mubadil exchange accepts Peer-to-Peer trading of USDT, Bitcoin, Ethereum, and LTC
- Being a Peer-to-Peer exchange ensures that transactions are completed very fast
- There is no fee charged for any trading you complete on the platform.
Cons
- The roadmap for this crypto exchange project is not available in English
- The platform does not support a lot of currencies
- The platform is too Pakistani consumer-centered
- The platform have not gathered enough trust and popularity
- You cannot withdraw your PRT token from Mubadil to other crypto wallets
