Quidax is a cryptocurrency exchange that was launched in 2018 in Nigeria. It is an African-focused yet globally accessible trading platform.
Quidax implements KYC verification processes as part of the commitment to combating fraud and helping in the prevention of money laundering and terrorist financing. Users must verify their identity to enjoy the platform services. Citizens or residents of the United States of America are restricted from using Quidax cryptocurrency exchange services. Quidax platform is available in Android and iOS applications. You can also access the exchange’s services through the web.
Quidax offers spot trading. Quidax spot feature allows users to trade digital currencies with their available account balances without any leverage. Quidax trading pairs include crypto-to-crypto and crypto-to-fiat pairs. The platform supports more than 25 cryptocurrencies spread across multiple trading pairs. The supported assets include popular tokens such as BTC, ETH, BNB, DOGE, LTC, and USDT. The platform also supports Nigerian Naira (NGN) as the main fiat currency.
Quidax launched its native asset, QDX, in May 2021. Quidax holders can use it to access loans and savings on the Quidax exchange. Users can also stake QDX to earn interest. Finally, QDX is a governance token that allows users to vote on the future of the project.
Quidax cryptocurrency exchange offers Instant Swap and Orderbook features. The Instant Swap feature allows users to buy cryptocurrencies instantly. Besides, it supports NGN and USDT pairs. The platform's Orderbook is a comprehensive trading feature with tools that give traders more insights about the markets they are dealing with. Users can trade the listed assets at the available market price or customize their prices using the Limit Order feature.
Quidax also has an over-the-counter (OTC) desk that allows users to buy/sell large volumes of cryptocurrencies (more than $300,000 worth of crypto) quickly and safely. Quidax OTC transactions settle directly into the users' wallet or local currency bank. Quidax exchange fee follows a maker-taker model for Orderbook trades. Users incur a 0.1% Maker fee and a 0.3% Taker fee. Instant buy/sell service attracts a 1% fee.
The platform’s deposit fee depends on the amount a user is transacting. The fee starts from 100 NGN and goes up to 2,250 NGN. Withdrawal fee ranges between 200 NGN to 5000 NGN. The fee for sending crypto to other wallets depends on the blockchain conditions. Quidax crypto fees are transparent and do not contain any hidden charges.
QDX Vault is an in-house staking service for Quidax users. QDX holders can stake their tokens and get rewards when the exchange airdrops a new digital token.
Quidax also offers a Self-Service Listing feature, which enables users to launch their tokens and sell their assets to its large user base of more than 400,000 customers across many countries. QDX vault also offers large liquidity that can effectively fund any project.
QDX API feature helps users to build fully-featured cryptocurrency apps by providing developers with all significant resources.
Quidax Academy offers educational resources that can help new users kick off their crypto trading activities with the necessary knowledge they need to succeed. Users can learn the basics about cryptocurrency, its use cases, and how to trade it.
About the Company
Quidax crypto exchange was founded by Buchi Okoro in 2018 in Nigeria. The exchange is headquartered in San Gwann, Malta.
Quidax launched with only 20 customers in 2018. In May 2021, the exchange launched its native token, QDX on Julpad. The token launched with a 500 million supply. 15% of the tokens were sold at Private Sales and Public Sales. Quidax crypto price is available on the live chart.
In March 2022, Quidax was listed on ConMarketCap. By 2022, the platform had gained more than 400,000 customers across over 72 countries. Quidax trade volume has been increasing with the increase in the number of users. Quidax volume crossed $3.2 billion in transactions in 2022.
Buchi Okoro, the founder of the Quidax cryptocurrency exchange, has garnered a lot of experience working with other projects in the tech and investment field. He served as a member of the Board of Directors at Beltion Global Investment Limited. He has also worked as Investment & Valuation Analyst.