Cryptocurrencies have taken the world by storm in recent years, and their popularity continues to grow. As a result, many trading platforms have emerged to cater to the increasing demand.
TransferXO and Quidax are two such platforms that allow users to buy and sell cryptocurrencies. However, each platform has its unique features, benefits, and drawbacks.
In this article, we’ll compare TransferXO vs Quidax, how to buy & sell crypto on both platforms, and help you decide which platform is best for you.
Is TransferXO Better Than Quidax?
Comparing these two great peer-to-peer exchange platforms (TransferXO and Quidax) can be overwhelming because they both stand out in the world of cryptocurrency. While they’re top-notch in their own way, we deduced some vital similarities and differences between them.
Let’s start with the factors that make them so similar.
TransferXO and Quidax are both cryptocurrency trading platform that allows users to buy and sell cryptocurrencies, including Bitcoin, Ethereum, Ripple, and Litecoin. The platforms equally have a user-friendly interface and offer a simple interface, making it easy for even novice users to buy and sell cryptocurrencies.
However, one of the unique features of TransferXO is that it allows users to trade cryptocurrencies without any fees. While Quidax supports multiple payment methods, including bank transfer, debit/credit cards, and mobile money.
The latter also applies to TransferXO, hence making it difficult to state the exact differences between these two platforms.
Meanwhile, both platform offers a high level of security, protecting users’ funds through its advanced security measures. However, TransferXO offers a higher number of cryptocurrencies to trade, giving users more options to choose from.
TransferXO also provides 24/7 customer support to assist users with any queries or issues they may face.
TransferXO vs Quidax: Overview of Both Exchanges
TransferXO Overview
Founded in Nigeria in the middle of 2021, TransferXO is a regional exchange. The exchange’s primary goal is to provide a platform for buying and selling cryptocurrencies across the world, however, the introduction of DeFi and NFTs is also on the agenda.
Although there are more than 25 coins available for trading on the exchange, C and BNB account for more than half of all trading activity. Stablecoins and naira, the national currency of Nigeria, are included in the available currency pairs.
Fiat currency can be used on it for transactions called the Fiat Wallet.
The exchange trades 8 to 10 million dollars daily. The analytical platform CoinMarketCap gave the exchange a score of 3.8 out of 10 based on its new platform.
Quidax Overview
With the help of the cryptocurrency trading platform Quidax, customers may buy, sell, and manage digital assets. Bitcoin and other cryptocurrencies can be purchased and sold via the order book exchange, which was introduced in 2018.
While the head office of this cryptocurrency platform is in Malta, the majority of its operations are conducted there. Quidax, which is sometimes referred to as a wallet, serves as an exchange that makes it possible to purchase and sell cryptocurrencies.
TransferXO vs Quidax: Pros and Cons
TransferXO Pros and Cons
Pros
- Simple Registration Procedure: The registration and verification procedures are quick to finish.
- Customer service is responsive and available around-the-clock, every day of the week.
- Depending on the jurisdiction, users can deposit and withdraw both fiat currency and cryptocurrency.
- To meet the needs of cryptocurrency investors, TransferXO offers a variety of markets for buying and selling cryptocurrencies. SWAP, P2P, and Swing are these.
- The P2P Trading platform provides users with access to a vast and active P2P network that spans more than 30 countries.
- Escrowed Trade offers users extra protection while purchasing and selling on a P2P marketplace.
- Know Your Customer (KYC) and Anti-Money Laundering (AML) Policy: TransferXO adheres to AML regulations to stop fraud and money laundering.
Cons
- Some investors might be hesitant to use the exchange due to the fact that it is new.
- Fewer methods of payment than other exchanges.
Quidax Pros and Cons
Quidax trading has several benefits.
- High speed of transaction processing;
- an order book that makes it simple for traders to find the cheapest pricing;
- Users are now able to easily swap significant sums of bitcoins thanks to technical advancements. private software that serves as a payment option for website owners.
Pros
- Fee for withdrawal and additional expenses for expedited withdrawal. high taker rate
- no distinct products, instruments, or other competitive advantages;
- Working with USD and EUR is impossible.
TransferXO vs Quidax: Features and Comparison
TransferXO vs Quidax: Fees
When it comes to trading fees, both TransferXO and Quidax have different fee structures. TransferXO charges no fees for trading cryptocurrencies, which means you can buy and sell cryptocurrencies without incurring any fees. However, the platform charges a withdrawal fee for transferring funds out of the platform.
Quidax, on the other hand, charges a 0.2% trading fee for buying and selling cryptocurrencies. Additionally, the platform charges a deposit fee, depending on the payment method used, and a withdrawal fee for transferring funds out of the platform.
Overall, TransferXO offers a more cost-effective option for traders who want to avoid trading fees.
TransferXO vs Quidax: Supported Cryptocurrencies
When it comes to the cryptocurrencies supported, TransferXO and Quidax offer different options. TransferXO currently supports Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
On the other hand, Quidax supports a more extensive range of cryptocurrencies, including Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, and others.
If you’re looking to trade a broader range of cryptocurrencies, Quidax may be a better option for you. However, if you’re interested in trading only the most popular cryptocurrencies, TransferXO may be a more suitable choice.
TransferXO vs Quidax: Security
When it comes to security, both TransferXO and Quidax take security seriously and have implemented several security measures to protect users’ funds.
TransferXO uses advanced security measures, including SSL encryption, two-factor authentication, and cold storage to protect users’ funds.
Additionally, TransferXO stores users’ funds in separate wallets, making it difficult for hackers to access users’ funds.
Quidax also takes security seriously and has implemented several security measures to protect users’ funds. The platform uses SSL encryption, two-factor authentication, and cold storage to protect users’ funds.
Additionally, Quidax regularly conducts security audits to ensure the platform’s security measures are up-to-date and effective.
TransferXO vs Quidax: Customer Support
When it comes to customer support, both TransferXO and Quidax provide 24/7 customer support to assist users with any queries or issues they may face.
TransferXO provides customer support via email, live chat, and phone. On the other hand, Quidax provides customer support via email and live chat.
Overall, both platforms offer excellent customer support, and users can expect quick and helpful responses to any queries or issues they may face.
TransferXO vs Quidax: User Interface
When it comes to the user interface, both TransferXO and Quidax offer a simple and easy-to-use interface that allows users to buy and sell cryptocurrencies quickly. TransferXO’s interface is straightforward and easy to navigate, making it easy for even novice users to trade cryptocurrencies.
Quidax’s interface is also user-friendly and offers a simple interface that makes it easy for users to buy and sell cryptocurrencies. Additionally, the platform’s interface is customizable, allowing users to personalize the platform’s look and feel to their liking.
TransferXO vs Quidax: Mobile Apps
Both TransferXO and Quidax offer mobile apps that allow users to buy and sell cryptocurrencies on the go. TransferXO’s mobile app is available for both iOS and Android devices and offers the same functionality as the desktop version.
Quidax’s mobile app is also available for both iOS and Android devices and offers the same functionality as the desktop version.
Additionally, the platform’s mobile app is user-friendly and offers a simple interface that makes it easy for users to trade cryptocurrencies on the go.
TransferXO vs Quidax: Basic Products
TransferXO Basic Products
P2P Exchange
By doing away with middlemen and centralized authorities, TransferXO P2P Exchange provides a decentralized, peer-to-peer platform for trading cryptocurrencies. This gives a greater selection of trading pairings, fewer fees, and a boost in the security of your trades.
Using the decentralized TransferXO P2P Exchange, you can conduct direct cryptocurrency trades with other users.
Here’s how the TransferXO P2P Exchange works if you want to start using this feature:
Become a member of TransferXO P2P Exchange: The first step is to register for a platform account. You’ll have to fill out the very minimum, including your name and email address.
Deposit money: After setting up an account, you must add money to your TransferXO wallet. Numerous payment options, including bank transfers, credit/debit cards, and cryptocurrencies, are available for this.
Find a trade: You can start looking for deals once you have money in your wallet. There are several trading pairs available on TransferXO P2P Exchange, so you can pick one that meets your demands.
Start the trade: After locating a deal you want to make, start the trade by selecting the “Buy” or “Sell” option. The other user will receive information about this, and they can choose whether to accept or reject the transaction.
Finish the trade: If the other user agrees to the trade, you can finish the deal. Escrow is a service offered by TransferXO P2P Exchange that keeps the money until the transaction is finished. The monies are released after confirmation from both parties that the transaction is finished.
Over-the-Counter (OTC)
Do you have access to a sizable amount of funds and the capacity to transact in sizable volumes of cryptocurrencies? Using TransferXO’s Over-the-Counter (OTC) service, you can trade large blocks among other things.
By bringing together cryptocurrency buyers and sellers, TransferXO Over-the-Counter (OTC) operates. The platform acts as a middleman, guaranteeing swift and secure transaction completion. Without an intermediary, users can exchange or acquire bitcoins directly from other users.
In order to help traders make wise judgments, the platform also offers real-time market data and analytics.
The following describes how TransferXO’s Over-the-Counter (OTC) service works:
Step 1: Complete the OTC form with the necessary information. To buy or sell cryptocurrencies, orders can be placed on the exchange.
Step 2: After an order is submitted, the exchange will match the buy and sell orders while taking the clients’ requested price, quantity, and other conditions into account.
Step 3: The exchange will enable payment when an order matches. This may require moving funds from the buyer’s account to the seller’s account or vice versa, depending on the specifics of the transaction.
Why Opt for Over-the-Counter (OTC) TransferXO?
TransferXO Over-the-Counter (OTC) is the ideal option for cryptocurrency traders for a number of reasons:
TransferXO Over-the-Counter (OTC) transfers cryptocurrency quickly, devoid of transaction fees or waiting periods.
Secure – To make sure that transactions are safe and secure, TransferXO Over-the-Counter (OTC) employs cutting-edge security methods.
Friendly to users Even for traders who have never used bitcoins before, the platform is simple to use.
Real-time market data and analytics are provided by TransferXO Over-the-Counter (OTC), enabling traders to make wise selections.
Virtual Card – Crypto Debit Cards
Digital debit cards called the TransferXO Virtual Card – Crypto Debit Cards are available for purchase everywhere that accepts Visa or Mastercard.
These cards are not connected to a bank account, in contrast to conventional debit cards. They are connected to a cryptocurrency wallet instead, allowing users to spend their digital currencies just like they would fiat money.
You will receive a special card number, expiration date, and CVV code when you apply for a TransferXO Virtual Card – Crypto Debit Card, much like a standard debit card.
Like a regular debit card, you can make purchases using this information both in person and online. However, the money will be taken out of your cryptocurrency wallet rather than a bank account.
Get a Crypto Debit Card with TransferXO here:
To obtain a crypto debit card, follow these steps:
Step 1 is to register for a TransferXO account. Your identification must be confirmed, and your personal information must be provided.
The second step is to add more money. A bank account can be linked, money can be sent from a cryptocurrency wallet, or a credit or debit card can be used to make purchases.
Step 3: After making a deposit, you will receive a debit card with an expiration date, security code, and number that you can use to make online transactions.
Step 4: You may use your crypto debit card to make online purchases and pay bills just like you would with a regular debit card.
You can now use your virtual card to make purchases and transfer funds to other accounts.
Bill Payment
You may manage all of your bill payments in one location with the aid of TransferXO Bill Payment, an online application. Using TransferXO, you can pay your credit card, phone, internet, utility, and other bills.
Due to its partnerships with numerous billers and merchants, TransferXO allows you to pay bills to the majority of American businesses.
How to Use TransferXO to Pay Bills:
Here’s how to pay your bills with TransferXO:
Step 1: Describe the mode of payment and the total amount due before submitting a payment request.
Step 2: Using the current exchange rate, TransferXO determines the bill payment’s equivalent bitcoin value.
Step 3: The user examines the exchange’s display of the cryptocurrency equivalent and verifies the payment to authorize the transaction.
Step 4: TransferXO hands off the proper cryptocurrency to the bill-paying service provider or a third-party payment processor, who completes the transaction on your behalf. A confirmation email is then delivered.
Quidax Basic Products
Instant Swap
It might pass you by if you blink! This is how our instant buy and sell feature works. Do it for yourself!
Order Book
Want to purchase or sell a coin as soon as it reaches a desirable price? You’ll adore our order book after that.
QDX Vault
Our internal staking service is called The QDX Vault. When we airdrop new coins, QDX holders can stake their coins and receive rewards.
Self-Service Listing
Are you considering making a sizable Bitcoin investment in order to diversify some of your business’s assets?
OTC Desk
The most convenient location to buy and sell Crypto NFTs DeFi and CeFi. Open an account right away.
API
The development of fully functional cryptocurrency apps has never been simpler! Our API provides all you require and much more.
TransferXO vs Quidax: Fees
TransferXO Trading Fees
All purchase and sell orders on TransferXO are subject to a 0.75% fee. Compared to the industry average of 1% to 2%, this price is considerably less.
On TransferXO, the trading fee for buying and selling cryptocurrencies is 0.75%. It’s crucial to remember, though, that many cryptocurrency exchanges impose fees that are larger than this.
For bank account transfers for deposits, there will be no fees assessed. Debit card transactions and withdrawals from bank accounts are also free of additional costs.
Additionally, TransferXO doesn’t charge fees for deposits or withdrawals, making it a desirable choice for traders and investors. While cryptocurrency deposits are free, Bitcoin withdrawal fees are dependent on the network load at the time.
The trading cost structure at TransferXO is among the most uncomplicated we’ve encountered.
Quidax Fees
The structure of the Quidax transaction fee is open and transparent. These are the charges incurred when the cryptocurrency platform provides various services.
A 1.4% fee is applied to USSD and debit card deposits of Nigerian Naira on Quidax. However, bank transfers and direct bank deposits for cash are both free.
The site charges a 0.2% creator fee and a 0.3% taker fee in the meanwhile. On the other side, each purchase made through the instant buy/sell feature incurs a 1% fee.
TransferXO vs Quidax: Buy & Sell Crypto
When it comes to buying and selling cryptocurrencies, TransferXO and Quidax are two of the most popular platforms.
Both platforms offer a simple and easy-to-use interface that allows users to buy and sell cryptocurrencies quickly.
However, there are significant differences between the two platforms, which we’ll discuss in this section.
Buy & Sell Crypto on TransferXO
How to Buy Crypto on TransferXO
To purchase cryptocurrencies on TransferXO, adhere to the following steps:
Create an Account: Signing up for a TransferXO account is the first step. The creation of a password, name, and email address is necessary. Following account creation, you will receive a confirmation email. You must click the link in the email to verify your account.
Verify Your Identification: Prior to making a Bitcoin purchase on TransferXO, you must first verify your identification. For this routine procedure to be completed, you must enter your name, address, and birthdate. You must also provide a photo of your government-issued ID.
Add Money to Your Account: Following account verification, you must add funds to your account. Only a few of the payment options accepted by TransferXO include bank transfers and debit cards.
Buy Cryptocurrency: With the money in your account, you may now buy cryptocurrency. TransferXO supports a number of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and others. Select the cryptocurrency you want to buy and the budget you want to stick to. After reviewing your transaction information, click the Buy button.
After buying cryptocurrency, store it safely by storing it in a reliable wallet. You can transfer your Bitcoin to an external wallet in addition to using TransferXO’s built-in wallet. Make sure to securely store your private keys to protect your crypto.
How to Sell Crypto on TransferXO
Selling cryptocurrency is a quick and easy process on TransferXO. The following are the steps:
Create an Account: The first step in selling cryptocurrencies on TransferXO is to create an account. If you have an account already, move on to the next step. Go to the TransferXO website and click “Sign Up” to register. Follow the instructions and provide the required information to establish your account.
Verify Your Identity: After creating your account, you must verify your identity. This step is necessary because TransferXO is a regulated exchange. To establish your identity, you must upload a government-issued piece of identification and provide some personal information.
Fund Your Account: You must deposit money into your TransferXO account before you can sell Bitcoin. Among the payment methods that TransferXO accepts are bank transfers, credit/debit cards, and cryptocurrencies. Choose the best payment method for you after adding funds to your account.
Choose the coin you want to sell: After you’ve deposited money into your account, the next step is to decide which cryptocurrency you want to sell. TransferXO supports a number of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and others. Select the desired cryptocurrency from the list of available options.
Decide how many you wish to sell: After selecting the cryptocurrency, the selling price must be specified. The sum can be entered in local money and cryptocurrency.
Place the sell order: After choosing a price, placing the order is the last step. When you’re ready to submit your order, click “Sell” after carefully reading the transaction’s details. After you place the order, TransferXO will locate a buyer and complete the transaction on your behalf.
Buy & Sell Crypto on Quidax
How to Use Quidax Instant Buy/Sell to Buy
Getting a handle on the exchange may be challenging if you are new to cryptocurrencies; in this case, we advise using the immediate exchange, which is quick and gives you value for the coin you wish to acquire within seconds.
Even though using Quidax’s instant buy/sell feature is not just for beginners, it can be useful in situations where you need to buy or sell cryptocurrency quickly and are willing to use the current market price.
Use Instant Buy/Sell to BUY in these steps:
- Check out the Instant Buy/Sell page.
- Choose the digital currency you want to purchase.
- Next, pick the currency you want to use to make the purchase.
- Enter the amount in the currency you are using to make the purchase in the amount to spend field. Type 50,000 in that field if you wish to purchase N50,000 worth of BTC. Please pay attention to the chosen currency.
- Alternatively, you can change to “amount to buy” by using the double arrows next to that field. Enter the value of the asset you want to purchase in this situation. Type 0.5 in that field if you wish to purchase 0.5 BTC, for instance. Please pay attention to the chosen currency.
- Verify each and every detail.
- Select “Buy” from the menu.
How to Use Quidax Instant Buy/Sell to Sell
- Navigate to the Instant Buy/Sell page.
- “Sell” should be selected.
- You should choose the coin you want to sell.
- Pick the currency you want to sell next.
- The amount for the currency you are selling should be entered in the amount to sell field. For instance, enter 5 in the form if you want to sell 5 LTC. Please note the chosen currency.
- If you want, you can change it to “amount to receive” by using the double arrows next to that field. In this instance, enter the desired asset’s amount. Type N120,000 in that field, for instance, if you want to receive N120,000.
Please note the chosen currency. - Verify every piece of information.
- “Sell” should be clicked.
TransferXO vs Quidax: Security and Trustworthiness
TransferXO vs Quidax: Security Features
Security is an essential aspect of any cryptocurrency exchange. In this section, we will discuss the security features of TransferXO vs Quidax.
TransferXO Security
TransferXO employs multiple security measures to protect its users’ assets. These measures include:
- To safeguard your account from unauthorized access, TransferXO provides two-factor authentication (2FA). You can benefit from the transaction pin and 2FA to approve your transaction.
- Storage in Cold Wallets: TransferXO keeps the majority of user cash in cold wallets, which aren’t connected to the internet and are therefore less susceptible to hacking attempts.
- Escrow System: TransferXO has an escrow system that keeps money in escrow throughout transactions, ensuring that both parties complete their responsibilities before releasing the money.
- To protect user data and transactions, TransferXO employs top-notch encryption.
- Anti-Money Laundering and Know Your Customer Policies: For the purpose of preventing fraud and money laundering, TransferXO conforms with AML and KYC laws.
2FA is a security feature that requires users to verify their identity using two different methods. TransferXO supports Google Authenticator and YubiKey as 2FA methods.
Cold storage wallets are offline wallets that store cryptocurrencies. They are more secure than hot wallets since they are not connected to the internet. TransferXO keeps 98% of its users’ assets in cold storage wallets.
IP address whitelisting is a security feature that only allows a specific IP address to access an account. This feature adds an extra layer of security to TransferXO accounts.
The anti-phishing code is a unique code that users created during the account registration process. It is used to prevent phishing attacks, which are common security threats in the cryptocurrency world.
Quidax Security Features
Quidax also employs several security measures to protect its users’ assets. These measures include:
- Two-factor authentication (2FA)
- SSL encryption
- Cold storage wallets
- Anti-phishing code
Quidax supports Google Authenticator and Authy as 2FA methods.
SSL encryption is a security protocol that encrypts data transmitted between a user’s browser and a website. This feature ensures that data transmitted between the user and the website cannot be intercepted by third parties.
Quidax stores 95% of its users’ assets in cold storage wallets. The remaining 5% is stored in hot wallets for liquidity purposes.
TransferXO vs Quidax: Trustworthiness
Trust is a critical factor when it comes to choosing a cryptocurrency exchange. In this section, we will discuss the trustworthiness of TransferXO vs Quidax.
TransferXO Trustworthiness
TransferXO is a relatively new cryptocurrency exchange that was launched in 2020. However, the exchange has already gained a significant following due to its user-friendly interface and excellent customer support.
TransferXO has a CoinMarketCap rating of 3.8 out of 5, which indicates that the exchange has a high level of customer satisfaction.
- User-Friendly Interface: TransferXO has an intuitive user interface that is simple for new users to utilize.
- Positive User Reviews: Users have given TransferXO positive feedback, proving that it is a dependable and trustworthy platform.
- Transparent Fees: There are no hidden fees with TransferXO’s transparent fees.
- Educational Resources: Through the TransferXO Academy, TransferXO offers educational resources to users so they may learn about cryptocurrencies and how to trade them.
TransferXO vs Quidax: Customer Support
Customer support is another crucial factor when it comes to choosing a cryptocurrency exchange. In this section, we will discuss the customer support of TransferXO vs Quidax.
TransferXO Customer Support
TransferXO has a dedicated support team that is available 24/7 to assist its users. The exchange provides support through live chat and email.
TransferXO also has an extensive knowledge base that contains answers to frequently asked questions. The knowledge base is regularly updated to ensure that users have access to the latest information.
How Can I Reach Customer Support for TransferXO?
What should you do if you’re having problems logging in or releasing your Bitcoin on TransferXO? There are various methods you can contact their customer service team to submit a ticket or a complaint.
There are several ways to contact TransferXO’s customer support:
- There is live chat help accessible 24/7.
- Send inquiries to hello@transferxo.com.
- They have a thorough FAQ section on their website.
- The Social Media Platforms
Remember that the TransferXO customer support team is always willing to help. Their primary concern is the user experience of their platform. Therefore, if you have any questions or concerns about the following, please let them know.
- The marketplace on the platform
- Their offerings (App, Buy, Sell, Fiat Wallet, etc.)
- Disputes
- TransferXO account you have
What kinds of problems can TransferXO customer service help with?
Customers can get assistance from TransferXO’s customer service with a variety of problems, such as:
- registration and confirmation of an account.
- problems with transactions.
- questions relating to security.
- a technical nature.
- broad platform inquiries.
How responsive is TransferXO’s customer service?
Customers frequently obtain a response from TransferXO’s customer care within a few minutes of contacting them via live chat or email due to their exceptional responsiveness.
Quidax Customer Support
Quidax also has a dedicated support team that is available 24/7 to assist its users. The exchange provides support through live chat, email, and phone.
Quidax has a comprehensive FAQ section that contains answers to common questions. The exchange also has a blog that provides users with the latest news and updates.
TransferXO vs Quidax: Unique Feature
TransferXO Academy
The premier online academy for blockchain and cryptocurrency education in Africa is TransferXO Academy. They serve as a forum for learning and using blockchain technology to create digital riches for ONE BILLION Africans.
Take your talents to the next level by enrolling in TransferXO Academy’s advanced blockchain courses.
The Academy offers more than 100 certification programs to give you the edge and the tools you need to become an expert. Their credentials are accepted throughout the world.
You have control over your educational career when you use TransferXO Academy. You can come back at any moment and finish your courses because your progress is preserved.
Don’t pass up this chance to become an expert in one of today’s most revolutionary technologies.
Fiat Wallet
You can possess numerous Fiat Wallets with currencies from Kenya, Ghana, and Nigeria with TransferXO’s special “Fiat Wallet” function.
Typically, fiat currency is used to make cryptocurrency purchases. You may save cryptocurrency on the platforms and in your TransferXO Fiat Wallet thanks to this innovative innovation from TransferXO.
Final Verdict
Both TransferXO and Quidax are well-known websites that provide a straightforward and user-friendly interface for buying and selling cryptocurrencies.
If a trader wants to avoid trading costs and is only interested in trading the most well-known cryptocurrencies, TransferXO offers a more affordable choice.
For traders who want to trade a wider variety of cryptocurrencies, Quidax is a better choice because it provides a larger selection of cryptocurrencies.
Your trading requirements and preferences will ultimately determine whether you choose TransferXO or Quidax.
Both platforms provide traders with reliable and user-friendly options for a platform to buy and sell cryptocurrencies because of their superior security features, customer support, and mobile apps.