This is a descriptive and explanatory guide on how to make money on Quidax Africa Exchange without shortchanging yourself by placing Buy and Sell order.
In this article, I will walk you through;
- What Quidax is and does
- How I make money trading on Quidax Exchange
- How to sign up and start using Quidax as a means of passive income
What is Quidax Exchange?
Quidax, as discussed in one of our previous articles, is the first cryptocurrency exchange in Nigeria that offers spot trading as far as we know.
It is owned and manage by Nigerians. Other than spot trading, Quidax Exchange offers buying and selling of cryptocurrencies and the currency used is Naira and a stablecoin (USDT).
What is Spot Trading?
Spot Trading simply means, trading on the spot. It is a process or trading cryptocurrency (buying and selling) on Cryptocurrency exchange.
Categories of spot trading are; Day trading, Swing Trading and Scalp trading.
This shall be discussed in details in our article on trading.
How to sign up on Quidax Exchange for free
Signing up or registration on Quidax is absolutely free. No fee attached. To sign up, follow the simple steps below;
- Log on to Quidax website or install Quidax app in your Google playstore
- Click on the Create Account button
- Provide the necessary information and you are in
- To lift the limit on your account, you need to verify your identity. Level 1 to Level 3. In level 1, you will need your BVN. If that’s not feasible or not successful, it will be waived so that you can do level etc.
- When you are verified, you need to make sure your account is secured. You will need to activate your 2FA Authentication and email notification. No withdrawal of money or coins will be completed unless you confirm it in your email.
How To Make money on Quidax Exchange
The part you have been waiting for. If you are reading this, you probably know about cryptocurrency trading or wish to learn (CHAT ME UP!).
To make money on Quidax, you can either be;
- A cryptocurrency trader (like me)
- Cryptocurrency investor
The following steps will help you make money on Quidax.
- Register an account on Quidax
- Deposit any amount of money you want
- Buy the coins you want (probably Bitcoin) when the price is low
- Sell when the price is high to make your profit. E.g buy 1LTC at N40k, sell when the price gets to N45k. That’s profit of N5k.
- You can also buy coins from people at a lower price and sell on Quidax at higher price.
If you don’t want to shortchange yourself by paying transaction fee, make use of Quidax Order Book.
What is Quidax Order Book?
Just as it sounds, Order Book is a section of cryptocurrency exchange where cryptocurrency traders trade (a place your order to either buy or sell is placed).
When you use the order book, you become maker and taker.
For instance, suppose you have 1BTC you want to sell, go to the order book,go to the sell section and set the price you want to sell that BTC and wait for it to be filled. When someone that wants to buy at the price you want to sell comes in, your order will be filled. I.e you make the price, another person take it.
Video guide on how to place order on Quidax Exchange
Wrapping up how to make money on Quidax Exchange
The above-mentioned ways are how money can be made on Quidax. Nothing stressful is done. Just register an account with Quidax, verify your identity, deposit money, buy coins at a lower price and sell when the price is high. It is that simple.
Check out Quidax and explore. Money must be made!