This is a crypto trading platform that works as an exchange and P2P marketplace and allows users to buy and sell cryptos and tokens. You can trade over 40 different digital assets through P2P or swapping.
Coindirect is registered in the Isle of Man and was launched in 2017. Some of the services offered on this platform are:
Buy/Sell Bitcoin
You can buy your crypto of interest at the P2P marketplace or directly using a card.
Wallet
It offers wallet services for all the cryptos it supports
Convert
A user can swap from one crypto for another.
Account types offered on Coindirect
There are two types: Business and Personal. The Business account provides a way of integrating cryptos with businesses. On the other hand, the Personal account allows you to access the services previously mentioned.
Business Account Features
Accepts global crypto payments
Instant global crypto pay-outs
Accepts BTC payments for game buys and virtual items
Supports bookings from anywhere on the globe with no chargebacks
Personal Account Features
24/7 trading
Accepts several payment methods
Offers trades of up to $1m
Supports fiat payments
Fees and Limits
Conversion fees- 0.25%
Marketplace fees for vendors- 1%
Credit card fees for Nigerians is 1.99% while for the rest of the world is 3.99%
This platform limits users who have not completed verification:
In Nigeria, unverified accounts can only buy Bitcoin worth 200k Naira, but verified ones can buy up to 1.25m Naira worth of Bitcoin daily.
In South Africa, unverified accounts are allowed 15k ZAR, while verified ones are permitted volumes up to 500k ZAR daily.
Supported currencies and payment methods
Some of the cryptos are BTC, ETH, XRP, LTC, TRX, among others. The fiat currencies are EUR, GBP, AUD, NGN, ZAR, and KES. Supported payment methods include Bank Transfer, credit/debit card, PayPal, M-PESA, and SEPA. Please note that M-PESA is only available in Kenya, while SEPA serves European nations.
Security
Coindirect is a well-secured exchange which has two security measures in place: escrow and 2FA authentication.
Escrow
Buyers and sellers are moderated using Escrow. A seller can only release cryptos once the buyer pays. In case the buyer fails to pay within the allocated time, the seller will be given back the coins.
2FA Authentication
Your account is shielded from unauthorized access through the 2FA authentication. You need to download the Google Authenticator app on your phone and link it to your Coindirect account.
Closing Remarks
Coindirect’s services comply with world standards. This shows that this platform operates legally, and if a user’s rights are violated, they can be sued. This platform aims to spread its wings into more nations and also incorporate more coins.
Coindirect has proven to be reliable and trustworthy even though it lacks live support chat. You can still reach them through Twitter, Facebook, and email. Before you select any platform to use, put into consideration your aim for buying the cryptos and what you want to use them for.
Lastly, you can earn a living by becoming a full-time trade vendor at Coindirect exchange.
Originally posted on https://decentralised.africa/
Thank you for this clear, concise review of Coindirect. I would love to see a compare and contrast article on Coindirect vs Coinbase for example.