{"id":1637,"date":"2021-12-04T13:48:39","date_gmt":"2021-12-04T13:48:39","guid":{"rendered":"https:\/\/blog.prestmit.io\/?p=1637"},"modified":"2026-02-17T11:11:39","modified_gmt":"2026-02-17T11:11:39","slug":"quidax-review-is-it-legit","status":"publish","type":"post","link":"https:\/\/prestmit.io\/blog\/quidax-review-is-it-legit","title":{"rendered":"Quidax Review: Is It Legit?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d37faf1638d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"ez-toc-cssicon\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d37faf1638d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/prestmit.io\/blog\/quidax-review-is-it-legit\/#What_Is_Quidax\" >What Is Quidax?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/prestmit.io\/blog\/quidax-review-is-it-legit\/#How_Does_Quidax_Work\" >How Does Quidax Work?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/prestmit.io\/blog\/quidax-review-is-it-legit\/#Cryptocurrencies_Supported_by_Quidax\" >Cryptocurrencies Supported by Quidax<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/prestmit.io\/blog\/quidax-review-is-it-legit\/#Quidax_Fees_and_Pricing\" >Quidax Fees and Pricing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/prestmit.io\/blog\/quidax-review-is-it-legit\/#Accepted_Payment_Methods_on_Quidax\" >Accepted Payment Methods on Quidax<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/prestmit.io\/blog\/quidax-review-is-it-legit\/#Security_Features\" >Security Features\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/prestmit.io\/blog\/quidax-review-is-it-legit\/#Pros_of_Using_Quidax\" >Pros of Using Quidax<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/prestmit.io\/blog\/quidax-review-is-it-legit\/#Limitations_of_Quidax\" >Limitations of Quidax<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/prestmit.io\/blog\/quidax-review-is-it-legit\/#Regulatory_Compliance\" >Regulatory Compliance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/prestmit.io\/blog\/quidax-review-is-it-legit\/#Frequently_Asked_Questions_FAQs_About_Quidax\" >Frequently Asked Questions (FAQs) About Quidax<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/prestmit.io\/blog\/quidax-review-is-it-legit\/#2_How_long_do_withdrawals_take\" >2. How long do withdrawals take?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/prestmit.io\/blog\/quidax-review-is-it-legit\/#3_Which_cryptocurrencies_can_I_buy_on_Quidax\" >3. Which cryptocurrencies can I buy on Quidax?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/prestmit.io\/blog\/quidax-review-is-it-legit\/#4_Can_I_use_Quidax_without_KYC\" >4. Can I use Quidax without KYC?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/prestmit.io\/blog\/quidax-review-is-it-legit\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<p><span style=\"font-weight: 400;\">Africa continues to remain at the center stage of <a href=\"https:\/\/prestmit.io\/blog\/top-10-african-countries-with-highest-crypto-adoption-rate-in-2022\">cryptocurrency adoption<\/a>, and Nigeria remains one of the largest markets for its exchanges. From cross-border payments to savings and trading, these digital currencies continue to gain momentum.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But access remains a challenge. Many global exchanges don\u2019t support local bank transfers, while peer-to-peer trading can feel risky and inconsistent. That gap has created demand for reliable exchanges that understand the local market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Quidax is one of the few African-built cryptocurrency platforms that promise to fill that space. It promises a simple way to buy, sell, and store crypto using the naira, while still offering enough tools for active traders.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But promises alone aren\u2019t enough.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In this review, we will examine how Quidax actually performs its supported coins, fees, security, regulation, and overall user experience so you can decide if it\u2019s the right exchange to trust.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Is_Quidax\"><\/span><b>What Is Quidax?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img decoding=\"async\" class=\"alignnone wp-image-16783 size-full lazyload\" data-src=\"https:\/\/blog.prestmit.io\/wp-content\/uploads\/2021\/12\/Quidax-1.jpeg\" alt=\"Quidax review\" width=\"870\" height=\"564\" data-srcset=\"https:\/\/blog.prestmit.io\/wp-content\/uploads\/2021\/12\/Quidax-1.jpeg 870w, https:\/\/blog.prestmit.io\/wp-content\/uploads\/2021\/12\/Quidax-1-150x97.jpeg 150w, https:\/\/blog.prestmit.io\/wp-content\/uploads\/2021\/12\/Quidax-1-768x498.jpeg 768w\" data-sizes=\"(max-width: 870px) 100vw, 870px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 870px; --smush-placeholder-aspect-ratio: 870\/564;\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Quidax\u00a0is a Nigeria-based centralized cryptocurrency exchange that allows users to buy, sell, and store digital assets using both crypto and local currencies like the naira. Founded in 2018 by Buchi Okoro, the platform was built specifically to make crypto more accessible to Africans who often struggle with foreign exchanges and payment restrictions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Quidax enables direct bank transfers, local withdrawals, and built-in wallets for supported assets. This makes it easier for beginners to get started while still providing the core tools needed for everyday trading.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In short, it positions itself as a simple, local alternative to global platforms like Binance or Bybit. But how does this platform function?<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_Does_Quidax_Work\"><\/span><b>How Does Quidax Work?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Quidax operates as a centralized exchange, meaning all trades happen within the platform rather than through peer-to-peer deals. Getting started involves creating an account, completing<a href=\"https:\/\/prestmit.io\/blog\/what-is-kyc-and-why-do-crypto-exchanges-require-it\"> know your customer (KYC) procedure<\/a>, and funding your wallet either through a bank transfer or a crypto deposit. Once funded, you can trade supported coins through Quidax\u2019s straightforward interface.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Each asset comes with a built-in wallet, so users can store funds directly on the platform while trading. Orders are matched internally, which typically results in faster transactions and fewer risks compared to informal <a href=\"https:\/\/prestmit.io\/blog\/how-make-money-online-with-p2p-trading-nigeria\">P2P trading<\/a>.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For beginners, this setup feels simpler and more structured. For experienced traders, it offers convenience, though without the advanced tools found on larger global exchanges.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Cryptocurrencies_Supported_by_Quidax\"><\/span><b>Cryptocurrencies Supported by Quidax<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Quidax supports a focused selection of high-demand cryptocurrencies rather than hundreds of speculative tokens. Users can trade major assets like <a href=\"https:\/\/prestmit.io\/blog\/bitcoin-101\">Bitcoin (BTC)<\/a> and <a href=\"https:\/\/prestmit.io\/blog\/ethereum-101\">Ethereum (ETH)<\/a>, alongside stablecoins such as <a href=\"https:\/\/prestmit.io\/blog\/usdt\">USDT<\/a>, which many use for savings, remittances, and everyday transactions. The platform also lists a handful of altcoins to provide additional trading opportunities.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While the selection isn\u2019t as extensive as global exchanges like <a href=\"https:\/\/prestmit.io\/blog\/binance-vs-coinbase-which-is-better\">Binance<\/a>, it covers the coins most local users actually need. Each supported asset includes a built-in wallet for easy storage, transfers, and withdrawals.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Quidax_Fees_and_Pricing\"><\/span><b>Quidax Fees and Pricing<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Quidax keeps its fee structure relatively predictable, which is a big advantage for everyday users. Internal transfers between Quidax users are free, and external crypto withdrawals only incur standard blockchain network fees.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For trading, Quidax uses a maker-taker model of 0.1% per trade, applied to both buyers and sellers. This rate is competitive and lower than many local alternatives.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The platform also offers an Instant Swap feature for quick conversions. While it doesn\u2019t charge a direct fee, the spread is built into the price, so costs may be slightly higher than regular trades. Overall, the pricing is transparent and fair, especially for small and mid-size traders.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Accepted_Payment_Methods_on_Quidax\"><\/span><b>Accepted Payment Methods on Quidax<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">For many users, Quidax focuses primarily on local bank transfers, which remain the fastest and most reliable way to fund accounts. Deposits are typically credited once the transfer is confirmed.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Users can also deposit cryptocurrencies directly from external wallets. The platform supports peer-to-peer (P2P) trading, allowing buyers and sellers to agree on payment methods like bank transfers or mobile payment apps for added flexibility.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, Quidax does not currently support card payments or international processors such as Google Pay or Apple Pay, which may limit convenience for some users.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Security_Features\"><\/span><b>Security Features\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Security is one of the most important factors when choosing an exchange, and Quidax implements several safeguards to protect user funds and data. Two-factor authentication (2FA) adds an extra layer of protection during login and withdrawals. The platform also uses a combination of cold and hot wallets, keeping most funds offline to reduce the risk of hacks, while maintaining smaller hot wallets for daily transactions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">User accounts are protected through KYC verification, encrypted data storage, and ongoing monitoring for suspicious activity. While no exchange is completely risk-free, these measures align with industry best practices and provide a reasonable level of protection for everyday trading.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Pros_of_Using_Quidax\"><\/span><b>Pros of Using Quidax<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">With all these in place, it is important to weigh the advantages of Quidax\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Beginner-friendly signup and verification<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Supports naira deposits and withdrawals<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Fast bank transfers and internal crypto transfers<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Low, transparent trading fees<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Mobile app for Android and iOS<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Solid security measures, including 2FA and cold storage<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Limitations_of_Quidax\"><\/span><b>Limitations of Quidax<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">While there are merits, Quidax also have its own shortcomings.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Smaller coin selection compared to global exchanges<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Limited advanced trading tools and charts<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Some pairs may have lower liquidity for large trades<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Fewer payment options beyond bank transfers<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Customer support response times can slow down during peak period<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Regulatory_Compliance\"><\/span><b>Regulatory Compliance<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Quidax operates in compliance with Nigerian financial regulations and follows strict Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">All users must verify their identity before trading or withdrawing funds, which helps reduce fraud and improve overall platform safety. While Nigeria\u2019s crypto regulatory framework is still evolving, Quidax\u2019s adherence to compliance standards provides more transparency than many unregulated offshore exchanges.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions_FAQs_About_Quidax\"><\/span><b>Frequently Asked Questions (FAQs) About Quidax<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><b>1. What fees does Quidax charge?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Small trading fees apply. Naira deposits are usually free, while withdrawals attract minimal bank charges. Rates are shown before you confirm.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_How_long_do_withdrawals_take\"><\/span><b>2. How long do withdrawals take?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Most Naira withdrawals arrive in minutes to a few hours. In rare cases, same-day. Crypto transfers depend on blockchain speed.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_Which_cryptocurrencies_can_I_buy_on_Quidax\"><\/span><b>3. Which cryptocurrencies can I buy on Quidax?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Popular coins like Bitcoin, Ethereum, Litecoin, and USDT are supported, with more added over time.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_Can_I_use_Quidax_without_KYC\"><\/span><b>4. Can I use Quidax without KYC?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">You can open an account, but withdrawals and full features require KYC verification.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><b>Conclusion<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Overall, Quidax stands out as one of the more reliable locally built exchanges who want a simple way to buy and trade cryptocurrency using the naira. It may not offer the advanced tools or massive coin selection of global platforms, but it delivers where it matters most: ease of use, local payments, and transparent fees.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For beginners and everyday traders, that practicality can matter more than complexity. And if you prefer a straightforward, Africa-focused exchange, consider options like <\/span><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.prestmit\" target=\"_blank\"><span style=\"font-weight: 400;\">Prestmit.<\/span><\/a><span style=\"font-weight: 400;\"> As always, trade cautiously, secure your account properly, and only invest what you can afford to lose.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa continues to remain at the center stage of cryptocurrency adoption, and Nigeria remains one of the largest markets for its exchanges. From cross-border payments to savings and trading, these digital currencies continue to gain momentum. But access remains a challenge. Many global exchanges don\u2019t support local bank transfers, while peer-to-peer trading can feel risky [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":16784,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[14,705],"class_list":["post-1637","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrency","tag-quidax-review"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.5 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Quidax Review: Is It Legit?<\/title>\n<meta name=\"description\" content=\"This in-depth review covers Quidax review on how how it works, 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