NairaEx Review (2020 Update): Is It Still Nigeria’s №1 Bitcoin Exchange?
By: Nigeria Bitcoin Community
Tags: Crypto, Cryptocurrency, Review, Exchange, Bitcoin

8. FAQs and Public Opinions

Every bright company has an FAQ section as we see in the case of NairaEx. The FAQ section is generally to provide answers and useful information to commonly asked questions that concern users. Some users can also share their public opinions and experiences through feedback.

Here are a few FAQs that can be seen on the NairaEx platform:

1. How do I use NairaEx?

– Sign up to NairaEx

– Verify your Identity

– Buy or Sell the supported currencies

And that’s it.

Note: you do not need verification to sell bitcoins on NairaEx buy you need it to buy.

2. Where is my Cryptocurrency wallet?

NairaEx doesn’t store your coins and so, does not provide wallet services. What it basically does is sell bitcoins on retail.

Before you buy Bitcoins on NairaEx, you must create a Bitcoin wallet elsewhere. The best option for newbies, which is, in fact, the most popular option is blockchain.info. However, if you a buying a large amount of bitcoin, it is best to use a hardware wallet.

3. How do I Buy BTC on NairaEx?

NairaEx places its minimum transaction amount at N30,000. So, if you wish to buy Bitcoins with any amount below that, then I suggest you look somewhere else.

To buy Bitcoins:

– Login to your account and click on “NEW ORDER”.

– Once logged in, click on New Order’ or ‘Create Now’.

– Enter the amount of bitcoin you want to buy either in Naira or BTC and click Next

– Enter your bitcoin address, choose the payment method and click complete order (You can either pay by bank transfer or pay by debit card)

– You will be shown a summary of your order, if it’s correct, make payment and wait for your bitcoin to be sent to the wallet address you provided.

4. How do I Sell BTC on NairaEx?

To sell your Bitcoins, all you have to do is.

– Login to your NairaEx account and Go to Payment info (under your name in the account dashboard) and add your bank accounts).

– Click on New order and fill out the Sell form. (Change Trade to Sell and enter Bitcoin or Naira amount and submit).

– Select your bank account and click on submit, Review the order details.

– Send the described amount in bitcoin to the NairaEx bitcoin address shown on the confirmation page.

– The Naira value for your Bitcoin will be sent to your account within 2–8 hours after your Bitcoin transfer is confirmed (according to NairaEx).

5. Does NairaEx have an Affiliate Program?

Yes, NairaEx offers an affiliate program for users on its platform. Every registered account has a referral link or code attached to it. Users are allowed to share their link/code through social media such as Facebook, WhatsApp, Twitter, Telegram etc…in order to invite friends to join the platform.

You receive a commission of N5OO deposited into your NairaEx account after your referee completes trade worth N30,000. You also earn N2 for every $1 of your friends’ order.

There is no limit to the number of friends you can refer to the platform. You can only withdraw your referral bonus after you have reached the minimum earnings of 3,000 Naira (as at the time of writing).

Visit Site

9. Conclusion — Why We Should Trust this Exchange

NairaEx is a reliable bitcoin exchange company that offers a decent service to newbies who wish to buy Bitcoins through common payment methods.

However, no crypto exchange is flawless. NairaEx is not left out, it falls short in several departments as seen below in the product review rating.

Although it is a reputable and trustworthy exchange, I don’t agree with the tag NairaEx places on itself as the best bitcoin exchange in Nigeria.

Also Read: 10 Best Bitcoin Exchanges in Nigeria

So far gone, we have now known:

Why we should trust the NairaEx exchange,

The payment methods it supports,

How we can buy and sell bitcoin on NairaEx, etc…

Now it’s your turn,

Tell me in the comment section

Have you used Nairaex and what’s your experience?

Would you signup with this exchange?

What basic improvements do you think this exchange require?

Should more cryptos be listed on this exchange?

If you enjoyed this post, you can encourage us to do more by giving it a share.

Cheers!

#BlackLivesMatter Bitcoin Magazine

Coin and Crypto