Coindirect review (All you need to know)

Coindirect review (All you need to know)

Coindirect review (All you need to know)

Coindirect is a peer to peer exchange that is based in South Africa, it allows you to buy and sell digital currencies with your local Fiat currency.

A peer to peer exchange connects people who want to sell cryptocurrency to people who want to buy cryptocurrency.

In this coindirect review, am going to be writing about everything that you will need to know about this exchange.

Let’s get into it then

Table of contents

1. Coindirect

2. Coindirect supported cryptocurrency

3. Coindirect supported countries

4. Coindirect fees and charges

5. Coindirect payment methods

6. How to buy digital currencies on coindirect

7. How to sell digital currencies on coindirect

8. Coindirect customer support

9.  Is coindirect safe?

10. Alternatives to coindirect

11. Conclusion

Coindirect

Coindirect is a peer to peer exchange that is based in South Africa, it allows you to buy and sell digital currencies with your local Fiat currency.

A peer to peer exchange connects people who want to sell cryptocurrency to people who want to buy cryptocurrency.

Coindirect supports over 42 cryptocurrency including the major ones like bitcoin (BTC),  ethereum (ETH), litecoin (LTC) e.t.c.

Coindirect provides escrow service that enables buyers and sellers trade safely.

This means coindirect locks sellers assets in escrow while waiting for the seller to confirm payment from the buyer.

Coindirect services include crypto-to-crypto trading, crypto-to-fiat and also wallet services.

Coindirect supported cryptocurrency

Coindirect supports all the major cryptocurrency like:

1. Bitcoin (BTC)

2. Ethereum (ETH)

3. Litecoin (LTC)

4. Bitcoin cash (BCH)

5. Dogecoin (DOGE)

and other cryptocurrencies like tether (USDT), Verge (XVG), IOTA (IOTA), Neo (NEO) e.t.c.

Coindirect supported countries

Coindirect is available in 24 countries:

South Africa, Kenya, Nigeria, United kingdom, Australia, Belgium, Canada, Finland, France, Germany, India, Ireland, Italy, Malaysia, Namibia, Netherlands, New Zealand, Pakistan, Saudi Arabia, Singapore, South Korea, Spain, Thailand and UAE.

Coindirect does not support users from the United States.

Coindirect fees and charges

An exchange fees and charges will go a long way in determining whether one should use the exchange.

Coindirect doesn’t charge makers fee.

If you’re trading crypto to crypto, the takers fee is 0.10%.

Also the fee for Fiat to crypto trades will depend on the fee of the bank you are using.

Coindirect charges no fee on withdrawals.

Coindirect payment methods

Coindirect payment methods are:

1. Bank transfer

2. Credit/debit card

3. Online payment (PayPal)

4. Mobile transfer (MPESA & SEPA).

How to buy digital currencies on coindirect

Before you can buy digital currency on coindirect, you will need to register an account on coindirect and complete your profile.

There are 3 different ways to buy digital currency on coindirect:

1.  You can buy from the coindirect peer to peer marketplace.

2. You can also choose an offer from the “buycoins page”.

3. You can use the conversion service to convert one cryptocurrency to another.

4. You should then make your payment with your local currency within the stipulated timeframe and upload your proof of payment.

5. Once your payment has been confirmed by the seller, your digital currency will be released to your coindirect wallet.

NOTE: Only Bitcoin can be bought directly, for other cryptocurrencies, you will need to use the conversion service.

How to sell digital currencies on coindirect

Before you can sell digital currency on coindirect, you will need to register an account on coindirect and complete your profile.

1. You will need to add a payment method to your profile.

2. Go to the “sell coins” page and choose a buyer to buy from.

3. Enter the amount of coins you want to sell.

4. A buyer will be able to make payment to you via your selected payment method.

5. Once you receive payment, you can release the coins to the buyer.

NOTE: Coindirect supports the selling of only bitcoin (BTC), Bitcoin cash (BCH),  Dash (DASH),  ethereum (ETH), litecoin (LTC), Tether (USDT), Ripple (XRP), if you would like to sell other cryptocurrencies, you will need to use the conversion feature to convert your coins.

NOTE: Coindirect places limits on users with unverified accounts.

To remove these limits, you will need to upload a clear selfie of you holding your ID, passport or government isssued document.

You should then upload the same document.

Once your account is verified, you will be able to buy and sell a large amount of digital currency.

Coindirect customer support

Coindirect major support is via it’s email:

Support@coindirect.com

Is coindirect safe?

Coindirect has proven to be a legit platform to buy and sell digital currency, so you should have no problem using this exchange.

Although, there are some not so legit sellers on coindirect, you should be safe, if you use the coindirect escrow.

If you have issues, you can log a dispute by clicking on “create dispute” button within the order.

This is only after you have tried resolving the issue with the buyer/seller unsuccessfully.

Alternatives to coindirect

If you decide against using coindirect, there are other good exchanges to buy digital cryptocurrency.

If you want to get involved in buying and selling cryptocurrency, you could try these trusted Nigerian exchanges.

Naira2usd:

Naira2usd is an e-currency exchange in Nigeria, owned by simac c & s services and funds ( buy,sell and exchange).

You can buy perfect money, bitcBit, webmoney, ethereum, litecoin, dash, bitcoin cash e.t.c.

One advantage of the Naira2usd platform is that you can buy or sell e-currency without going through the usual rigorous verification process that other platforms put you through.

Naira4dollar:

Naira4dollar is a company of sunej global ventures limited, it is an e-currency exchange company that has been in operation since as far back as 2006.

Naira4dollar is registered with the CAC with registration code RC-1069456.

Instantgold Nigeria:

Instantgold Nigeria is a Nigerian e-currency exchange that was established in the year 2007, they specialize in the provision of fast and efficient e-currency exchange to their clients.

Nairaex:

Nairaex is a Bitcoin exchange platform that is based in abeokuta, ogun state, Nigeria.

Nairaex is into buying and selling of different types of e-currencies, unlike peer to peer exchange, that already have in stock whatever e-currency that you want to buy.

Remitano

Remitano is owned by Babylon solutions limited, a Seychelles based company, it is a cryptocurrency exchange that was founded in 2014.

Remitano just like coincola is not a direct exchange, but a peer to peer exchange.

Remitano allows sellers to list their crypto assets for sale. When a buyer requests to buy a crypto asset, the seller transfers the crypto asset to remitano’s wallet.

When the buyer has paid the agreed amount to the seller. Remitano remits the locked coin to the buyer

Coincola

Coincola is an over the counter marketplace based in Hong Kong where you can buy and sell cryptocurrencies like Bitcoin, Bitcoin cash, ethereum, tether, litecoin, ripple and dash from people near where you live with your local currency or other payment methods including PayPal, Amazon gift card, iTunes gift card, steam gift cards, Google play gift card e.t.c.

Coincola is just like localbitcoins, since it is also peer to peer.

Read my full coincola review

Conclusion

I hope this coindirect review has helped you understand all you would need to know about the peer to peer exchange known as coindirect.

If you have any questions or comments, you can leave them below.

Have you used the coindirect exchange before? What was your experience like? Drop your reviews below?

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