Coindirect is a cryptocurrency trading platform based located in London. Targeted for African currency, Coindirect allows you to buy and sell cryptocurrency, as well as complete crypto-crypto or crypto-fiat conversions. They have over 40 cryptocurrencies listed. This includes coins such as Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Ripple, Dai, Doge, Civic, Steem, Digibyte, Lisk, OmiseGo, NEO, DASH, Monero, Lumen, Tronix and EOS. The large availability of crypto gives the exchange the capacity to handle large orders, while it adds up as a liquidity boost for its crypto exchange.
As revealed on its official website, its platform is supported by a sophisticated algorithm that can run trades of up over $1mill. Its platform supports wire transfers, while credit card payment is also inclusive in its deposit and withdrawal options. This allows for instant transactions. The fiat currencies currently listed are South African ZAR, EUR, NGN (Nigerian naira), KSH, among others.
You can store cryptocurrency in a cold wallet. It is also a marketplace where buyers and sellers relate using orders and offer. You could also trade via App, Web, API or Slack.
How do you use Coindirect?
Coindirect is free a service. All you have to do is to sign up on their webpage. Coindirect creates a free secure wallet for you to use. Next, you can make a deposit using any of the available options such as wire transfer or credit card. Once this is complete, you can purchase coins or simply transfer crypto into your wallet. When the money or coins are in the account, you are free to start buying, selling and converting coins on their marketplace directly.
- Coindirect has a mobile app version available on Google play and app store.
- Its platform accepts a wide variety of payment methods, including MasterCard and Visa.
- Easy withdrawals.
- Its platform is available 24/7
- It also gives preference for customers who have investments of $50,000 or more, referring to these as “coin direct private clients”. These clients have access to credit lines.
- It is free to use. No hidden fees or charges. The only fee charged is network fees which are just about 1%.
- It possesses all-inclusive, competitive pricing on its platform.
- They provide online support.
Coindirect’s OTC Brokerage
On Sept 27, coindirect announced that it was launching an OTC brokerage that targets high volume users thereby saving time. This launch also included an update to its platform which enables instant withdrawals for crypto. Fiat withdrawals may take up to 5 days, due to credit card payments, and increased transaction limits. On its website, it stated that the OTC brokerage is available to Nigerian crypto-traders and investors.
Q: How do I verify my coin direct account?
A: You will need to log into your Coindirect account and go to the ‘Edit Profile’ option. You can verify your identity and address by uploading your picture, Identity document and proof of address
Q: Can I make fiat/local currency deposits in my country?
A: You can use any one of the various payment methods, including credit cards, to make fiat deposits in your country.