- Can I start trading without verifying my account?
Yes, you can start buying/selling cryptocurrency without verifying your account.
If you just signed up and have an unverified account, you can deposit naira or crypto. Although you will be unable to withdraw. To withdraw Naira or crypto you need to be on Level 1 (Basic Level).
- Is it safe to use my ID card for Basic Level verification?
- What Identity cards can I submit?
You will be required to submit proof of identity documentation to upgrade your Quidax account. You can submit a clear, colour photo or scan of one of the following government-issued identity documents depending on the country you are from:
- Driver’s License
- International Passport
- Residence Permit
- Permanent Voters Card
- National Identity Card.
- Accepted Proof of Address Documents
You will be required to submit a proof of address documentation to upgrade your Quidax account to Level 2. The documents should be submitted in a clear photo or scan of one of the following documents
- Bank statement
- Utility bill (Electricity, Internet, Cable bill)
- Insurance Certificate
- Tenancy agreement
- Mortgage statement
- Tax bill
For the above please note that your address must be shown in full and that the name on the document must be similar to what was in the Government-issued identity card you submitted for Level 1. Also, the document must have been done within the last 3 months.
- Do I need to verify my account to deposit or withdraw local currency (Naira)?
You do not need to verify to deposit naira but you need to be on the Basic Level to be able to withdraw naira.
Although, there are no restrictions to the amount of cryptocurrency you can buy, sell, receive and store.
- How long does it take for my account to be verified?
Level 1 is automatically approved, while approval of verification for Level 2 could take between 10 minutes and 2 hours.
NB* Level 1 verification is automatic only if the system is able to read the details on your ID card fully and your realtime selfie matches your ID.
NIN slip is not automatic, it is manually verified and may take up to an hour.
- Do I need to verify my account to send and receive crypto?
You do not need to verify your account to receive cryptocurrency. Although you will have to upgrade to Basic Level before you can send cryptocurrency. Here's a link to read about our different account verification levels.
- Are there any limits to the cryptocurrency I can send and receive?
There are no limits to the amount of Bitcoin or any other cryptocurrency you can receive on Quidax. However, you need to upgrade your account to Basic Level in order to send cryptocurrency.
Here's a link to read about our different account verification levels and the limits.