There are 4 account verification levels and here's what you need to know about each of them:
The Level with no name
Existing and new users who have not verified their account are on Level 0. It is not an actual tier but it indicates that you'll not be able to deposit naira but you can buy, sell, receive and store cryptocurrency. Upgrading to Level 2 allows you to be able to deposit naira.
Level 1: Basic Information Verified
At this level, you will still be unable to deposit or withdraw Naira. Although, you will also be able to buy, sell, receive and store cryptocurrency. You will need to upgrade to Level 2, in order to send cryptocurrency.
Information required to move to Level 1 include Date of Birth, Address City, Zip Code and Country.
Level 2: NIN Verification
If Level 1 is not ideal for you based on the deposit/withdrawal limits and restrictions, then this level should do the trick. Level 2 Account verification provides you access to:
- Daily Withdrawal Limit: NGN 200,000.00
- Weekly Withdrawal Limit: NGN 1,400,000.00
- Monthly Withdrawal Limit: NGN 5,000,000.00
Level 2 gives you access to unlimited local currency deposits.
Upgrading to this level requires you to provide your National Identificatioj Number (NIN) and the date of birth associated with your NIN. Sharing your NIN details with us is safe, as all information shared with us is securely encrypted and will not be shared with a 3rd party.
Level 3: ID Document Verified
Of course, we know that the limits in level 2 might not be enough for you, that's why Tier 3 with more than double the limit was created:
- Daily Withdrawal Limit: NGN 2,000,000.00
- Weekly Withdrawal Limit: NGN 14,000,000.00
- Monthly Withdrawal Limit: NGN 50,000,000.00
Getting to Level 3 requires that you submit a Government-issued identity card as well as a picture of yourself holding a piece of paper with Quidax written on it as well as the current date.
Here’s a list of accepted Government-issued identity cards
- Driver’s License
- National Identity Card
- Permanent Voters Card
- International Passport
- Residence Permit
Level 4: Proof of Address Verified
Now this level is the last but definitely not the least level and it blows your limits through the roof with;
- Daily Withdrawal Limit: NGN 10,000,000.00
- Weekly Withdrawal Limit: NGN 70,000,000.00
- Monthly Withdrawal Limit: NGN 200,000,000.00
For your account to be verified for this level you will need to provide a proof of your address document. Here’s a list of documents you can submit as proof of your address.
- Bank statement
- Utility bill (Electricity, Internet, Cable bill)
- Insurance Certificate
- Tenancy agreement
- Mortgage statement
- Tax bill or Pension statement
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 3. Also, the document must have been done within the last 3 months.
If you max out your limits under Level 4, kindly contact us. Although to qualify for this you need to have maxed out the limits under level 4 severally and provide some documents which we will request.