Coindirect has made the Purchase and Sales of Cryptocurrencies Secure and Easy
Since the invention of Bitcoin, investment in cryptocurrencies though risky has remained the most profitable investment anyone can make. In 2017 this market saw a remarkable increase that some altcoins gained value to the tune of 39,000 percent. The Problem most people have in investing in cryptos is where to buy and sell these currencies. However, this is no longer a problem as we now have Coindirect.
Coindirect is a peer-to-peer platform that connects buyers and Seller from around the world through an escrow service to trade a wide range of Altcoins safely. Coindirect has made It super easy and convenient as users can buy, sell, store and exchange up to 35 cryptocurrencies. The best part is; there is hardly a coin you would want to acquire that you will not find in this exchange as they feature only coins that matter. They aim to be the single portal solution for all type of altcoin owners.
As usual, I have taken time to study this platform. This review presents all the nitty gritty about coindirect in a concise and easy to understand form. Enjoy, feel free to ask any question you might have.
- Convert Bitcoin to anything else
- Easy fast and safe
- Multiple Payment methods
- Global Market Place
- No hidden fees
- Instant Transactions
- Escrow Protected
What are the supported Cryptocurrencies?
Coindirect supports the Buy, Sales, Storage and Exchange of 35 cryptocurrencies; Bitcoin, Ethereum, Ripple, Bitcoin Cash, Cardano, Litecoin, Lumen, Neo, EOS, IOTA, NEM, Dash, Monero, Lisk, Tronix, Ethereum Classic, Qtum, USDT, Vechain, ZCash, OmiseGO, STEEM, Verge, Siacoin, Stratis, Waltonchain, Dogecoin, Ark, Digibyte, Golem, Salt, NXT, ReddCoin, Breakout Stake.
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This exchange currently supports full service in 5 countries; Australia, Kenya, Nigeria, South Africa and the United Kingdom.
Residents of other countries can send and receive bitcoin using the wallets provided by Coindirect but will not be able to withdraw in their Local currencies.
Methods of Verification.
When you open a Coindirect account, you will need to undergo three levels of verification to be able to use all the features of the platform without limits.
First, you need to enter your full name, verify your email address and accepts the terms and conditions. To buy and sell cryptocurrencies, you will need to enter some personal information a payment method.
Verification includes; email verification, identity verification and resident verification. Your details are not made public, it is required to conform to international standards
The verification level determines your buy and sell Limits
Accepted Payment Method
There is currently 3 payment method accepted in Coindirect. These methods depend on the country of the user, they include:
- Bank Transfer
- Mobile Money (M-PESA)
- Online Payments (Paypal)
The transaction fees charged by coindirect for the sales and purchase of cryptocurrencies is integrated to the price displayed. What you see is what you pay there are no hidden fees or extra transaction charges as seen in other exchanges.
How to Buy cryptocurrencies on Coindirect
Th procedure for buying cryptos on coindirect is pretty simple. Here are the steps.
Log in and click on BUY COINS
Scroll down to the coin you want to buy and Click on ‘BUY’
Select the trader you want to buy from
Enter the number of cryptocurrencies you want to buy, choose a payment method and click on PROCESS ORDER.
Make payment to the account given and Click on ‘I’VE PAID‘.
You should receive your coin the instant your payment is confirmed however 90 minutes is usually allowed for this process.
Warning: Make sure you click on ‘I’VE PAID’ once you have made payment. If you make payment and did not click ‘I’VE PAID’ within the 90mins given, you will not receive your coin. Similarly, if you click on “I’VE PAID” without actually making the payment, your account will be blocked.
Coindirect does not have online chat like similar exchanges do, you can, however, contact them by email, Facebook and Twitter.
How Secure in the Coindirect Platform?
Users account on this platform are protected in two ways; Escrow and 2FA
- Escrow: Coindirect does not directly buy and sell cryptos from buyers and sellers rather they connect two individuals to trade but moderate the process through an escrow. What the escrow does is to lock the coin the buyer has indicated to buy from the seller. The seller will no longer have access to the coin but can only release it to the buyer once he makes payment. However, if the buyer did not make payment within the given time the coin will be released back to the seller.
- 2FA (Two Factor Authentication): This is how Coindirect protects your account from unauthorized access. To use this, you will have to download the Google Authenticator App to your mobile phone and link it to your coindirect account. This app generates a code every 20 sec, you will need to enter this code to gain access your coindirect account. In order words, before anyone can gain access to your account, the person must have your username, password and your phone.
The company is registered with Isle of Man and complies with all their AML and KYC requirements to offer fully regulated transactions in every country they operate in. The business is overseen by the Isle of Man Authority for Anti-Money Laundering and CFT compliance to ensure responsible business practices from all parties involved
As can be seen from the above, coindirect has made it easy for anyone to acquire various cryptocurrencies from a single platform. That is a convenience a lot of people seek for. Users of this platform are satisfied with their service because there have not been any complaints so far. Expansion into more countries and inclusion of more altcoins would be a step to truly being the one-stop-shop for all altcoins.
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