QUIDAX VS PAXFUL
With the advent and acceptance of cryptocurrency, comes the need to trade with a trusted crypto exchange that makes it easy for you to “relax and be taken care of.”
There are a lot of crypto exchanges established to satisfy the needs of crypto users.
This review will sample Quidax and Paxful and give recommendations based on their services. At the end, I hope it’d help prospective crypto traders make a choice.
Quidax is an African-based crypto exchange established with a dream to facilitate remittances and help users across Africa tend to their cryptocurrency needs.
With a mobile app and a user friendly website that helps newbies in the crypto trading game and even oldies, Quidax is known as a reputable crypto exchange.
Its instant buy/sell feature allows for trading of cryptocurrency on the go and the order book exchange which permits trading with other people by matching orders is commendable.
Quidax is rated highly for its user friendly website, responsive support, detailed FAQs and easy withdrawal/deposit methods.
Paxful is a peer to peer crypto exchange that allows for the buying and selling of Bitcoin through its website and virtual kiosk link. Paxful also has a wide coverage and can be operated from any part of the world except in 14 countries.
Paxful acts as the middle man between the buyers and sellers but the transaction relies solely on both parties. To ensure security, trading is done via escrow and live chat.
Paxful is noted for its easy site navigation, customer support and array of payment methods.
PROS AND CONS
Quidax and Paxful both come highly recommended for those intending to trade cryptocurrency however, both crypto exchanges are not without their strengths and weaknesses.
Paxful has more coverage and can be traded from anywhere in the world except in 14 countries. All these countries’ fiat are acceptable on the website. Quidax on the other is an African focused crypto exchange, though trades in 6 African countries but it supports only the Nigerian fiat currency, Naira.
Paxful provides over 300 payment options and customers have a wide range of options to make payments. Quidax has 4 simple ways to make deposits but Paxful seems to have leverage with its various payment options. It cannot be said that Paxful payments are swift but Quidax’s deposits are instant.
Quidax is better than Paxful in the area of supporting more cryptocurrencies. Paxful only supports Bitcoin while Quidax supports other cryptocurrencies including Ethereum, Dash, Tron, Litecoin, USDT, and Ripple.
Paxful’s peer to peer platform only brings buyers and sellers together but the transaction deals are left to be decided by both parties. Hence, sellers have great influence on the charges and it’s possible exchange rate could double. Relatively low and no hidden charges is what Quidax is popular for. See transaction fees here.
In areas of customer support, both platforms have responsive customer support. Paxful has a live chat service but according to recent reviews, it isn’t as responsive as it should be.
Paxful and Quidax are both safe and secure crypto exchanges to trade with. Quidax takes identity verification at different levels and 2FA very seriously.
While I consider Paxful safe for trading, I cannot strongly recommend the peer to peer exchange because of the loopholes stated above, yet to be addressed. Quidax on the other hand, has had more good reviews though not completely without hitches but it comes highly recommended.