Quidax is a Nigerian based crypto exchanges which was founded in the year 2018 by Buchi Okoro in Lagos Nigeria. The company is registered in Malta, the reason being that Malta is open to cryptos and is taking steps to create a regulatory framework around it. Quidax is a platform where users can buy or sell cryptocurrencies in Naira, which is the local currency in Nigeria. According to Quidax, its vision is to create a world where sending money and value around the globe is as easy as sending a text message.
Quidax offers quite a number of cryptocurrencies on its platform including Bitcoin, Ethereum, Tether, Litecoin, Ripple, Bitcoin cash amongst others. If you cannot find the cryptocurrency you are looking for, you simply have to wait because Quidax lists new cryptocurrencies regularly. To date, the company has over 400 000 users and this is a clear sign that the company has made an impact in a short space of time.
Quidax is more than just a regular cryptocurrency exchange because it offers a total of seven products on its platform namely:
QDX Token
QDX Token is the native ecosystem of Quidax Exchange, it makes trading a little more interesting.
Instant Swap
With the Quidax Instant Swap, you can buy your favourite cryptocurrency in 2 mins or less.
Order Book
If you wish to buy or sell a coin right at the moment it hits a sweet price, you can make use of the Order Book.
QDX Vault
The QDX Vault is our in-house staking service. QDX holders can stake their coins and get rewards when we airdrop new coins.
Self-Service Listing
Are you looking to diversify some of your company’s assets by investing a chunk of money in Bitcoin?
OTC Desk
The easiest place to buy & sell Crypto NFT’s DeFi and CeFi at your fingertips. Create an account now.
API
Building full-featured cryptocurrency apps has never been easier! Our API gives you all you need and so much more.
How to register with Quidax?
You must be registered on the Quidax platform in order for you to make use of their services, please note that you can register as an individual or business. To register, you must:
Visit the Quidax website at https://app.quidax.com/
You will be redirected to the registration page, fill in the registration form with the following information;
For an individual
Country
Username
First Name *
Last Name *
E-mail Address *
Password
Phone Number
Check the available box to confirm your humanity
Click on the ‘Create Account’ button to complete the registration process.
For a business
Country
Business Name
Username
First Name *
Last Name *
E-mail Address *
Password
Phone Number
Check the available box to confirm your humanity
Click on the ‘Create Account’ button to complete the registration process.
Quidax Account Verification
There is need for you to verify your account after succesfully registering on the Quidax platform, please note that there are two levels namely Level 1 and Level 2. If you have registered but have not submitted anything for verification, you will not be on any of the two levels but you will be allowed to to deposit naira, buy, sell, receive and store cryptocurrency, however, you will not be able to withdraw until you upgrade to Level 1.
To be upgraded to level 1, you must provide any government-issued ID (take a picture of the front and back) and a realtime selfie. the following are the documents accepted;
Driver’s License
National Identity Card
Permanent Voters Card
International Passport
Residence Permit
Level 1
On this level, you have access to unlimited deposits but your withdrawal limits are as follows;
Fiat(Naira) withdrawal limit
Daily Withdrawal Limit: NGN 2,000,000.00
Weekly Withdrawal Limit: NGN 14,000,000.00
Monthly Withdrawal Limit: NGN 56,000,000.00
Crypto withdrawal limit
Daily Withdrawal Limit: USDT 1,000,000.00
Weekly Withdrawal Limit: USDT 5,000,000.00
Monthly Withdrawal Limit: USDT 20,000,000.00
Level 2
In order for you to be verified for this level you will need to provide a proof of your address document and below is a list of documents you can submit as proof of your address.
Bank statement
Utility bill (Electricity, Internet or Cable bill)
Insurance Certificate
Tenancy agreement
Mortgage statement
Tax bill or Pension statement
On this level, you have access to unlimited deposits but your withdrawal limits are as follows;
Fiat(Naira) withdrawal limit
Daily Withdrawal Limit: NGN 10,000,000.00
Weekly Withdrawal Limit: NGN 70,000,000.00
Monthly Withdrawal Limit: NGN 280,000,000.00
Crypto withdrawal limit
Daily Withdrawal Limit: USDT 2,500,000.00
Weekly Withdrawal Limit: USDT 12,000,000.00
Monthly Withdrawal Limit: USDT 50,000,000.00
How to make a deposit on the Quidax?
Making deposits on the Quidax platform is extremely easy, you just have to follow the simple steps below to deposit into your wallet.
To make a deposit, you must;
Visit the official Quidax website at https://www.quidax.com/ and login
Click on “Deposit”.
When you click on ‘Deposit’ a new page with fiat or crypto option comes up. Select ” fiat” and then ”NGN”.
As soon as you select naira, a page with deposit options comes up, choose the “Deposit with Qdirect” option.
On the next page, you input the amount you want to deposit, click continue and accept the terms and conditions.
As soon as you input the amount you’d like to deposit a page will pop up asking you to verify your bank account with Mono.
As soon as your bank account is successfully verified by Mono, you can click on ”continue”, then a screen containing the total amount you’d be expected to transfer to the displayed bank account number will pop up.
Next, a page pops up with details of an account you’ll make payment into. Kindly make the transfer before the timer ends and click on ‘I have paid’
How to make a withdrawal on the Quidax platform?
Making a withdrawal on the Quidax platform is also easy and you must have completed your Basic Level to make a withdrawal. To make a withdrawal, you must;
Visit the official Quidax website at https://www.quidax.com/ and login
Click on ”wallets” at the bottom right of the screen.
When you click on ‘wallets’ a new page with a list of all your wallets shows up. Select ”NGN”.
As soon as you select NGN, a page with withdrawal options comes up, choose the “Qdirect” option.
On the next page, you input the amount you want to withdraw, click continue and accept the terms and conditions.
As soon as you input the amount you’d like to withdraw, a page will pop up asking you to verify your bank account with Mono. Click on ” Add a new bank account with Mono”
As soon as your bank account is successfully verified by Mono, you can click on ”continue”.
You’ll be asked to input your 2FA code.
You are expected to get the funds in your bank account between 30-45mins. Please click on the Payment received button (on the mobile app)ONLY when you have received the funds in your bank account.
Which cryptocurrencies does Quidax offer?
Quidax offers several cryptocurrencies which is great, but what is even greater is that Quidax regularly introduces new coins on the list. Below are some of the popular currencies on the platform;
Bitcoin Ethereum Ether
Ripple Litecoin
Dogecoin Dash
Tether Tron
Quidax Coin Aave
Shiba Inu Axie Infinity
Bitcoin Cash Tezos Coin
Wakanda Inu Filecoin
Harmony BabyDoge Coin
Chainlink Binance
Polygon Pancake
Stellar Solana
Floki Inu
Quidax Customer Support
Quidax needs to do more in terms of their customer service because there just isn’t enough methods of communication on the platform. At the moment, you can contact them via the Quidax support channel and also via social media.