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Ngexchanger review (All you need to know)
UPDATE: Ngexchanger is now blockvila
In this “Ngexchanger review”, am going to be writing about everything that you will need to know about Ngexchanger before deciding whether to buy or sell cryptocurrencies with them.
Ngexchanger is a company based in port-harcourt, Nigeria that deals on the buying, selling and exchange of digital currencies, they have been in operation for over 2 years. It is a subsidiary of an ICT company Nyxel integrated services, They are also registered with the CAC.
One of the advantage of using local cryptocurrency exchanges is the convenience you get, the payment method is usually very easy.
The digital currencies Ngexchanger deals on
Ngexchanger deals with cryptocurrencies like bitcoin(BTC), ethereum(ETH), litecoin(LTC), ripple, dash and e-currencies like perfect money. According to their website, if you want to buy a different currency from the ones listed above, you can easily contact support at email@example.com.
How to begin buying and selling on Ngexchanger
To begin using this platform, you will need to sign up, sign up is very easy, all you will need to do is provide basic details like
* Your full name
* Your address
* Phone number
* Email address
You will also need to create your username and password.
After you finish this process, your account will be created, but at this stage, it is still unverified. To verify your account, you will need to upload a government issued ID card and a utility bill that shows your name and address. The verification process usually takes 24-48 hours, but in cases were it is taking longer, you should contact support.
Users with unverified accounts can buy a minimum of $20 and a maximum of $1000 per day, while those with a verified account can buy and sell as much as they want.
How to buy cryptocurrency on Ngexchanger
To buy digital currencies on Ngexchanger is fairly easy:
- Log on to your Ngexchanger dashboard
- Click on the “BUY” icon and select the cryptocoin that interests you
- Type in the amount that you want to buy in dollars
- Paste your wallet address
- Click “Proceed”Ngexchanger has a minimum transaction limit of $20.
- Confirm your transaction.
You can choose one of the four different payment methods (We will talk about this later in this Ngexchanger review).
How to sell on Ngexchanger
1. Log on to your Ngexchanger dashboard.
2. Click on the “SELL” icon.
3. Click on the “SELL” button next to the currency that you which to sell.
4. Input the amount of the currency that you which to sell
5. Input your account details.
6. Click “PROCEED” to generate a payment invoice, make sure that you pay attention to the wallet address you are to send the coins to.
7. Click “CONFIRM” to record/save the transaction
8. Transfer the coins that you which to sell to the designated wallet address.
9. Navigate your dashboard and click on “Send alert” to notify Ngexchanger of your payment.
10. Relax and wait for your account balance to be credited
Ngexchanger payment methods
Like i referred to before, one of the advantages of local based exchanges is the ease of payment, Ngexchanger currently accepts four payment methods:
1. Cash deposit
4. ATM transfer
How to create a wallet on Ngexchanger
Yes, Ngexchanger offers wallet services. To create an Ngexchanger wallet:
1.Log onto your account
2. Click on the wallet icon
3. Click on “Create wallet”
4. Select the wallet type (This can be a bitcoin or an ethereum wallet).
5. Make your transactions.
Ngexchanger transaction fees
Ngexchanger doesn’t really have transaction fees, that doesn’t mean they don’t make money, the rates it charges on different currencies more than compensates for this.
Everyone knows that a business sometimes can only be as good as its support, it is fair to say that Ngexchanger’s support is good, they reply in double quick time. Ngexchanger’s support can be reached at firstname.lastname@example.org
Other things to know
Ngexchanger has a referral program for which you can earn a percentage for every person that you refer, i think this is pretty good.
Every business has areas that they can always improve on. I think Ngexchanger can definitely improve on its mobile interface, the dashboard can be really complicated on mobile, and could maybe use some working on.
Are they trusted?
No one can 100% say that any online business is trusted, the best we can do is to take the reviews of others who have used the platform before, from there we can make our own judgement. Personally, i have used Ngexchanger and i find them to be reliable.
If you have been looking for a reliable way you can buy or sell cryptocurrency locally in Nigeria, then Ngexchanger might just be for you. I hope you have enjoyed reading my Ngexchanger review as much as i have writing it, if you have used Ngexchanger before and you have something to contribute, you can leave them below in the comments.
Thank you for reading.
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