Due to their accessibility and affordability, P2P cryptocurrency networks have recently grown in popularity. The most popular platforms in this regard are Quidax and Remitano.
Remitano has minimal transaction fees and a number of amazing features, while Quidax is renowned for its quick and secure transfers and high levels of transaction security. Which platform, though, performs better overall?
These systems have a sizable user base, including Quidax and Remitano. Both platforms, however, offer unique features, costs, and security measures.
To assist you in making a wise choice, we will thoroughly compare Quidax and Remitano in this article.
Let’s dive in!
Is Quidax Better than Remitano for Crypto Trading in Nigeria?
Remitano and Quidax are two prominent players in this space.
Remitano applies competitive fees to its services, including trading fees and deposit/withdrawal fees.
The fee structure varies depending on the type of transaction and currency involved. It is essential to review the fee schedule on the Remitano website for the most up-to-date information.
Remitano offers customer support through various channels, including email and live chat. Users can reach out to the support team for assistance regarding their accounts, transactions, or any other queries they may have.
With all of these criteria taken into account, it is difficult to determine if Remitano or Quidax is actually better for trading in Nigeria. If we were to make a definitive claim, we’d say Quidax communicates with the Nigerian audience more effectively than Remitano does.
This, however, is not a true statement. Both, in our opinion, can work together effectively.
Other options should be considered as well throughout this process whenever a comparison is done regarding the best crypto exchange platform to employ. We advise going right to TransferXO rather than being confused.
However, we’ll go ahead and contrast Quidax and Remitano in-depth, beginning with a summary of their functions, features, pricing, trading, customer support, security, and other factors.
Browse through our extensive reviews contrasting Quidax and Remitano with other marketplaces if you have some free time.
Quidax vs Remitano: Overview
On Quidax, a peer-to-peer cryptocurrency trading platform, users may buy and sell digital currencies using Nigerian Naira. The bitcoin trading software was officially released in 2018 following a brief alpha testing phase.
Quidax set up a peer-to-peer exchange in reaction to Nigeria’s ban on cryptocurrency. Utilizing Quidax peer-to-peer, users can immediately fund their accounts with Naira.
The main objective of the exchange is to offer a platform for buying and selling cryptocurrencies, although the launch of DeFi and NFTs is also planned.
Although there are more than 25 coins that may be traded on the exchange, C and BNB make up more than half of all trading activity.
Quidax provides a wide range of products and services designed specifically to satisfy the requirements of Bitcoin traders.
Users may easily navigate and complete transactions on the exchange because of its user-friendly design.
Quite a few well-known cryptocurrencies, such as Bitcoin, Ethereum, Ripple, and many others, are supported by Quidax.
Additionally, the platform offers sophisticated trading tools to help users complete profitable transactions, such as limit orders, stop-loss orders, and trading charts.
By using industry-recognized procedures and keeping money in cold storage, Quidax stresses security.
A peer-to-peer internet marketplace called Remitano makes it simple to acquire and trade cryptocurrencies.
Users can buy and sell cryptocurrencies using fiat currency and cryptocurrency on the cryptocurrency trading site.
Users can also connect with other Bitcoin buyers and sellers on the platform to conduct secure transactions.
A global cryptocurrency exchange called Remitano provides services to users in more than 30 nations, including Malaysia, Nigeria, Vietnam, and others.
Although Remitano is present in more than 30 nations, it’s crucial to keep in mind that the number of partners varies substantially by region.
Because of this, there can be only a few users in some regions while there are many more elsewhere. Remitano also accepts payments made through bank transfers and cryptocurrencies.
Quidax vs Remitano: Features – A Detailed Comparison
Nigeria is not an exception to the growing popularity of cryptocurrencies in recent years. The need for trustworthy and user-friendly platforms to purchase, sell, and trade digital assets grows along with the demand for cryptocurrencies.
Leading cryptocurrency exchanges in Nigeria include Remitano and Quidax, each of which provides a variety of features and services.
To determine which one best suits you, let’s compare them in depth.
Quidax vs Remitano: User Experience and Interface
An intuitive user interface and navigation are provided by Remitano. Both novice and seasoned traders can use the site, according to its architecture.
Users have little trouble navigating the platform’s features and sections after completing the registration process, which is simple.
Remitano is a good option for new traders because of its simple trading method and clear instructions, as well as its user-friendly design.
Remitano also provides prompt customer service to address any problems or concerns that traders might run into.
By providing a platform with lots of features, Quidax also puts the user experience first. It may initially seem a little more complicated than Luno, but for seasoned traders, it offers a number of advanced capabilities.
Quidax offers a variety of users spot trading, futures trading, and peer-to-peer trading. In order to ensure flexibility and convenience, it now provides a mobile trading app for cell phones.
Quidax vs Remitano: Supported Cryptocurrencies & Payment Methods
Quidax Supported Cryptocurrencies and Payment Methods
Quidax supports the following currencies:
- Bitcoin (BTC)
- Ethereum Ether (ETH)
- Ripple (XRP)
- Litecoin (LTC)
- Dogecoin (DOGE)
- Binance (BNB)
- Polygon (MATIC)
- Pancake (CAKE)
- Stellar (XLM)
- Axie Infinity (AXS)
- Bitcoin Cash (BCH)
- Tezos Coin (XTZ)
- Wakanda Inu (WKD)
- Dash (DASH)
- Tether (USDT- BEP-20)
- Tron (TRX)
- Quidax Coin (QDX)
- Aave (AAVE)
- Shiba Inu (SHIB)
- Chainlink (LINK))
- Filecoin (FIL)
- BabyDoge Coin (BABYDOGE)
- Harmony (ONE)
- Solana (SOL)
- Floki Inu (FLOKI)
Quidax also supports the following fiat currency:
- Nigerian Naira (NGN)
Quidax supports the following payment methods:
- Cryptocurrencies (for Instant Buy/Sell and Order Book)
- Bank Transfer (for P2P)
Remitano Supported Cryptocurrencies and Payment Methods
Several cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), are supported by Remitano.
Remitano, however, accepts the following cryptocurrencies as payment: EOS, Binance Coin, Cardano, Stellar, and Tron.
Users can diversify their cryptocurrency holdings thanks to the diversity available and pick the one that most closely matches their investing objectives.
Remitano’s payment options are limited to instant online bank transfers in the user’s currency for both buying and selling.
Customers from Nigeria, for example, will use Naira (NGN) to make payments, giving users practical choices for making deposits and withdrawals.
Quidax vs Remitano: Speed and Convenience
Quidax has a good remark in terms of speed and convenience. Many nations may receive same-day transfers from it, and you can simply trace your transfer using its mobile app or internet platform.
While Remitano relies on peer-to-peer transactions, it could take longer to execute transactions.
Quidax and Remitano are convenient, user-friendly systems that are simple to use.
Remitano only takes bank transfers and fiat web wallets, but Quidax provides a wider selection of payment options, including bank transfers, debit cards, and e-wallets.
Quidax vs Remitano: Products & Services
Quidax Products & Services
This fundamental service, which is usually their only product, is what the majority of Bitcoin exchanges in Nigeria provide.
Quidax, which enables you to instantly buy/sell a variety of cryptocurrencies using NGN, makes this easier.
If buying NGN gives you pause, you can also buy Bitcoin right away using USDT.
How to use the Instant Buy/Sell option is shown below;
- Sign in after creating an account at Quidax.com.
- Put money into your account
- On your dashboard, click the Instant Buy/Sell button.
- After selecting the type of cryptocurrency and the currency you want to buy or sell it for, enter the quantity of cryptocurrency you want to buy or sell.
- Once you have verified your request, click “Continue” if you want to move forward with the transaction.
This is the design of the Quidax trading platform.
By employing the “market and limit order” in Quidax’s user-friendly marketplace, makers and takers add liquidity to the exchange.
A simple trade chart from “Trading View” is also included on the exchange, allowing users to see the price evolution of a Bitcoin asset over time.
For all the cryptocurrencies it supports, Quidax provides web wallets in addition to NGN wallets on the online interface and mobile app.
Quidax does not provide you access to your private keys.
Users cannot access their private keys on any other exchange, thus this is not unique.
Quidax has its own API in order to simplify third-party integration for automated trading.
Access to this is available to interested parties by contacting Quidax customer care.
Quidax Exchange uses QDX as its native coin.
In response to Nigeria’s 2021 cryptocurrency prohibition, Quidax established a P2P exchange.
As a result, adding Naira to accounts will be simpler for users.
By way of Quidax P2P, only Naira is supported.
Through this, you can passively earn cryptocurrency by staking the QDX token.
If you want to use the QDX vault, open the “QDX wallet” and choose “vault.” Your QDX can be staked if you so choose.
Remitano Products & Services
Remitano offers the following services:
P2P Exchange: This is a platform where buyers and sellers may transact directly while maintaining the security of an escrow system by buying and selling Bitcoin and other supported currencies with their local currency (for example, Naira).
The P2P market also supports additional cryptocurrencies including Tether (USDT), Bitcoin Cash (BCH), Litecoin (LTC), and Ripple (XRP).
Remitano Invest: The investment platform for Remitano was announced in 2019. Here, you can purchase certain coins and benefit from their increasing worth. Using USDT, investments are made.
Remitano Exchange: You can instantly swap one cryptocurrency for another using the Remitano Exchange. You could, for instance, transfer Bitcoin into USDT. The wallet section has access to this feature.
Wallet: You can receive, transmit, store, and swap any of the six cryptocurrencies that Remitano offers via its wallet.
Affiliate Program: Through its affiliate program, Remitano is pleased to give you a cut of the money it makes from the users you refer. Utilizing a code that is specific to you in the affiliate area, you can invite a friend.
Quidax vs Remitano: Fees and Trading Costs
Quidax Fees and Trading Costs
It’s easy to purchase, sell, trade, and store cryptocurrencies with Quidax. You can evaluate their fees at any moment because they are transparent and easy to find.
They offer some of the most affordable pricing in Nigeria. and do not charge additional costs.
These are the expenses we have:
Fees for Naira Deposit
They charge a fee for local currency deposits at Quidax only when receiving your funds costs us money. On Quidax, however, getting coins is completely free.
Cryptocurrency Send fees
Send costs are frequently adjusted to take into account blockchain conditions. But to further serve their customers, they have made a facility available that enables users to send other Quidax users by using their phone number or email address.
A maker fee of 0.1% of the amount will be applied when you put a buy or sell order on the order book and someone else fills it out.
You take liquidity out of our order book and pay the taker charge when you place an order that is executed against an order on our order book. You will be charged a taker fee of 0.3% if you buy or sell using a market order since it immediately eliminates liquidity (other traders’ offers) from the order book.
Instant Buy/Sell Fees
To make it easier for our customers to buy and trade cryptocurrencies, we created an immediate purchase/sell tool. You may instantly buy Bitcoin, Litecoin, Ethereum, XRP, and USDT with this tool at the current exchange rate.
Remitano Fees and Trading Costs
Remitano makes it easy to comprehend commissions for utilizing P2P platforms. You can either accept an order for 1% more money or post one for free.
This enhances the fluidity of Remitano. Makers are not compelled to pay anything, but takers must pay a significant fee.
Remitano charges fees at a rate of 1% of the total USDT you get, and you only pay them when you are profitable. It should be noted that the amount of money you receive after the fee has been subtracted will not be less than what you first invested.
The margin investment interest rate in USDT per hour is 0.0010274%.
Quidax vs Remitano Fees Verdict
Your trading experience and profitability can be dramatically impacted by fees and levies. Remitano levies a small trading fee that changes depending on the nature of the transaction.
The cost structure for Quidax, on the other hand, is simple and ranges from 0.1% to 0.3% per transaction.
Based on your trading preferences, it’s important to compare the fees on the two platforms to find the most affordable choice.
Quidax vs Remitano: Security
Quidax takes security very seriously to protect user payments. The platform uses generally accepted security procedures, such as cold storage for keeping cryptocurrency.
Additionally, Quidax uses 2FA and encryption technologies to safeguard user data.
Quidax ensures a secure trading environment for its consumers by abiding by regulatory regulations.
The following techniques are used by Remitano to identify and monitor fraud:
All users must go through a Know Your Customer (KYC) verification process before they may buy or sell cryptocurrencies on our platform.
As part of this procedure, the user’s identity, address, and other important data are verified. Thanks to the KYC/AML process, they are able to prevent fraudsters from using the platform to engage in illegal activity.
Anti-Money Laundering (AML) Responsibilities: To protect users from fraud risks and scams, Remitano secures user transactions through its AML policy.
They put a lot of work into preventing money laundering and other activities on the platform by implementing the Customer Identification Program and Customer Due Diligence Rule.
Quidax vs Remitano Security Verdict
When dealing with Bitcoin exchanges, security must be a top priority. User finances and personal information are prioritized by both Remitano and Quidax.
Remitano is able to stop fraudsters from accessing the platform to carry out unlawful activities because of the KYC/AML procedure.
To protect user assets, Quidax uses cutting-edge security mechanisms like multi-signature wallets, DDoS protection, and encryption.
Users should always adhere to best practices to preserve their accounts because no exchange is totally risk-free.
Quidax vs Remitano: Customer Support
Quidax Customer Support: Prompt and Accessible
For users who run into problems or have inquiries, Quidax also provides quick customer service. For users to submit their questions, they offer a help ticket system.
For users to have a seamless trading experience, Quidax’s support team strives to deliver quick, accessible service.
Remitano Customer Support
Remitano boasts a helpful customer service staff that is available to help people with any problems or questions.
In the Bitcoin community, the platform is also well-known, with many users applauding its dependability and use.
Remitano’s allure among Nigerian cryptocurrency fans is boosted by its reputation for offering a secure trading environment.
Although Trustpilot gives the platform an average rating, the majority of user complaints center on unresolved disputes, money stolen by fraudsters, and unanswered inquiries.
Remitano has a positive user rating on Trustpilot, with most reviews praising the intuitive layout and the quickness of transaction processing.
It provides live chat customer support. But even though we’re open nonstop, seven days a week, it can take some time to answer your questions.
It responds to your questions through email if you are not online when it does so.
Quidax vs Remitano Customer Support Verdict
Quick and dependable customer service can be very helpful in the event of any problems or complaints.
Both Remitano and Quidax offer customer care, although Remitano frequently responds more quickly and offers more thorough assistance.
Quidax vs Remitano: Which is Best to Use in Nigeria?
Let’s compare Remitano and Quidax side by side now that we have examined each of their unique features in order to provide you with the information you need to make an informed choice.
|Supported Countries||United States, Nigeria, Vietnam, and more||Nigeria, Ghana, South Africa, Kenya, Uganda, and Zimbabwe|
|User Interface||Easy-to-use interface||Simple user interface|
|Cryptocurrencies||Wide range of supported cryptocurrencies||Bitcoin, Litecoin, Quidax Token, Ethereum, and many more|
|Payment Options||Bank transfers, mobile money, and more||Over-the-Counter, Bank transfers, and more|
|Transaction Speed||Fast transactions||Quick P2P transactions|
|Customer Support||Responsive Email, live chat||Email, live chat, social media|
Frequently Asked Questions
Is Remitano secure?
Indeed, Remitano is secure. The assets and data of its users are safeguarded using industry-standard security features like two-factor authentication, SSL encryption, and cold storage.
Which coins are available for trading on Remitano?
Currently, Remitano provides trading for Ripple, Ethereum, Litecoin, Bitcoin Cash, and Bitcoin.
How much does trading on Remitano cost?
Every transaction on Remitano carries a 1% fee.
What is the time required to withdraw money from Remitano?
Depending on the payment option chosen, withdrawal times may change. The majority of withdrawals are handled, nevertheless, within 24 hours.
Is Quidax or Remitano more secure?
Both Quidax and Remitano are safe cryptocurrency exchanges with safeguards in place to guard consumers’ money. Remitano has a more thorough security mechanism and hasn’t experienced any major security breaches since its start. Quidax is safe as well, and there haven’t been any significant security lapses.
Can I use Quidax and Remitano at the same time?
Yes, you can utilize both platforms at once to access a wider selection of trading opportunities and benefit from the particular features that each platform offers.
In Nigeria, are Quidax and Remitano subject to regulation?
The Nigerian Securities and Exchange Commission (SEC), which oversees both Remitano and Quidax, has registered and regulates both companies, ensuring that all rules are followed.
Which platform has better liquidity, Quidax or Remitano?
Both platforms strive to maintain adequate liquidity. However, Remitano’s peer-to-peer trading system often leads to better liquidity due to direct trading between users.
Both Remitano and Quidax provide distinctive features and advantages to cryptocurrency dealers in the competition.
While Quidax is impressive for its simplicity and emphasis on regional payment options, Remitano stands out for the wide variety of cryptocurrencies it supports and its user-friendly interface.
Your specific needs, trading preferences, and geographical location will ultimately determine which platform you choose.
You can confidently start your Bitcoin trading career now that you have a thorough understanding of Remitano and Quidax.
Prior to selecting a choice, don’t forget to do more research, compare their services, and take into account your unique wants. Good luck!