Obiex vs Quidax: Which Crypto Exchange is Better For You?

TABLE OF CONTENTS:

1. What is Obiex and What is Quidax?

2. Obiex vs Quidax: What Do Both Crypto Exchanges Offer?

3. Supported Cryptocurrencies

4. Fees

5. User Interface

6. Signup Process

7. Features

8. FAQs

Choosing the right crypto exchange is a crucial decision, especially if you're in Africa, an environment that is still getting familiarised with the crypto ecosystem. While many cryptocurrency exchanges are springing up around the world, it is important to apply caution in choosing the right one for you, whether you are new to the trade or a seasoned trader. That is why it is advised to consider exchanges that have been publicly acclaimed. Two of such notable exchanges are Obiex and Quidax.

Obiex and Quidax are two prominent names in the African crypto landscape, each offering unique features and advantages. This article aims to help you make an informed decision by comparing these platforms and analysing their key features, amongst other things.

What is Obiex and What is Quidax?

Obiex, established in 2021 by founder Ikechukwu Okeke, is an easy-to-use digital asset exchange platform designed for African customers to not only exchange cryptocurrencies for some of their local currencies —like the Naira and Ghanaian Cedis— but also buy and sell crypto and use them as a means of payment for utilities.

Quidax, founded in 2017, is a crypto exchange platform made for residents of Nigeria and Africa to buy, sell, and store Bitcoin alongside other cryptocurrencies. Officially launched in 2018 by Buchi Okoro, Uzo Awili, and Morris Ebieroma, the crypto exchange has launched a good number of features to cater to its audience, ranging from peer-to-peer service to the introduction of its in-house crypto token, QDX.

Obiex vs Quidax: What Do Both Crypto Exchanges Offer?

Obiex and Quidax, both emerging players in the African cryptocurrency landscape, bring unique offerings to the table, catering to the diverse needs of crypto enthusiasts. Let’s explore them:

Supported Cryptocurrencies

Obiex boasts a diverse selection of exchange options, providing access to over 15 cryptocurrencies, including BTC, USDT, ETH, XRP, SOL, TRX, ADA, and fiat coins like GHS (Ghanaian Cedis) and NGNX (Nigerian Naira).

Quidax, on the other hand, supports a wide array of over 20 cryptocurrencies, including popular ones like BTC, ETH, LTC, and others, as well as their indigenous coin, QDX.

Fees

Fees are a critical aspect when it comes to choosing a crypto exchange and understanding the fee structures of Obiex and Quidax can significantly impact your trading experience.  

Obiex offers the advantage of buying and selling crypto at competitive rates with zero transaction fees on coin swaps, allowing users to maximise the value of their trades without any additional cost.

On the other side of the coin, Quidax offers a transparent fee structure with competitive rates for trading, deposit, and withdrawal services.

User Interface and Experience

Obiex and Quidax both offer user-friendly interfaces accessible through web browsers and mobile apps, ensuring a seamless trading experience for users of all levels.

Obiex ensures a seamless experience for users with its easy-to-understand design. Navigating through the platform is as easy as a few clicks, making it suitable for both beginners and experienced traders.

Quidax, on the other hand, boasts a polished and organised interface that simplifies the trading process.

Ultimately, whether you prefer the simplicity of Obiex or the polished interface of Quidax depends on your personal taste and the kind of trading experience you're seeking.

Signup Process

Signing up on Obiex is a quick and straightforward process taking about 2-3 minutes, involving entering essential details such as legal name, email address, chosen password, and more on obiex.com. You also get to create a secure transaction PIN and username.

During the Quidax signup process, you will be required to provide information like your email address, chosen password,  country of origin, phone number, name, and login credentials, such as a username and a transaction PIN, all on quidax.com.

Features

Obiex offers the following features:

1. Buy, Sell, and Swap:

Obiex provides a straightforward platform for users to buy and sell a variety of cryptocurrencies including Bitcoin, Ethereum, and others. The user-friendly interface ensures that even if you are new to crypto, you can navigate the platform with ease.

2. Utility Payments:

Obiex goes beyond traditional trading by allowing users to make utility payments directly from their crypto wallet. This means you can conveniently purchase airtime, data, and electricity, and even pay for cable subscriptions using your cryptocurrency. It adds a practical touch to your digital assets, turning them into a multipurpose financial tool.

3. Instant Swaps:

One standout feature of Obiex is the ability to swap coins instantly without the need for confirmations. Let's say you have some Bitcoin, but you see an opportunity with Ethereum – with Obiex, you can make that switch in seconds. This rapid response to market changes is very important in the dynamic world of cryptocurrency trading.

4. Zero Swap Fees:

Obiex distinguishes itself by offering zero transaction fees on coin swaps. This means that when you exchange one cryptocurrency for another, you're not losing a percentage of your assets to fees. This feature allows users to take advantage of their trades without unnecessary additional costs, making it an attractive proposition for savvy traders.

5. Educational Resources:

Obiex also has a blog that is dedicated to comprehensive articles and other educational resources for users to enhance their understanding of the cryptocurrency market and keep them updated with crypto news.

Quidax provides the following features:

1. Buy, Sell, and Trade:

Quidax, similar to Obiex, enables the buying, selling, and trading of various cryptocurrencies. You can also store cryptocurrencies, including Naira, on the platform.

2. Secure Wallet:

Quidax emphasises security with its digital wallet. The secure wallet ensures that your cryptocurrencies are protected from unauthorised access. The platform employs strong security measures to safeguard user funds and data. These measures include encryption protocols, two-factor authentication (2FA), and cold storage for digital assets.

3. Instant Cashouts:

Quidax offers users the convenience of instant cash-outs. This means that when you decide to convert your Bitcoin or other cryptocurrencies into cash, the process is quick and hassle-free. Whether you want the funds in your bank account or through mobile money, Quidax ensures that transactions are processed swiftly, enabling users to capitalise on market opportunities in real-time.

4. User-Friendly Interface:

Quidax, like Obiex, ensures a user-friendly interface that caters to both beginners and experienced traders. Navigating the platform is intuitive, making it easy for users to access various features and execute transactions seamlessly.

5. Trade Charts:

For those who appreciate visual representation, Quidax offers comprehensive trade charts. These charts display price movements, historical data, and various technical indicators. Traders can use these charts to perform technical analysis, identify trends, and make well-informed decisions.

Customer Support

Obiex provides multiple support channels, including live chat, emails, and phone conversations. This means you can get assistance swiftly through the method that suits you best. On the other hand, Quidax uses a strong ticketing system where users can log their concerns, allowing for a systematic approach to query resolution.

Obiex, with its live chat option, excels in immediate problem-solving, ensuring you don't face unnecessary delays. Quidax, with its ticketing system, adopts a structured approach to address issues comprehensively.

Closing Thoughts

When considering the choice between Obiex and Quidax, it ultimately boils down to your individual preferences, specific needs, and the type of crypto trading experience you seek. Both platforms have their strengths, offering a range of supported cryptocurrencies, competitive fees, user-friendly interfaces, and unique features tailored to the African market.

FAQs

Q1. Is Obiex available outside of Africa?

A1. Obiex primarily serves customers in Africa, focusing on providing cryptocurrency services in the region.

Q2. Can I make utility payments with Quidax like I can with Obiex?

A2. Quidax focuses on trading and storing cryptocurrencies but does not currently offer utility payments.

Q3. How secure are my assets on Obiex and Quidax?

A3. Both platforms prioritise security, implementing measures like two-factor authentication and cold storage for digital assets.

Q4. Do Obiex and Quidax offer mobile apps for trading?

A4. Yes, both Obiex and Quidax provide user-friendly mobile apps for convenient trading on the go.

Q5. What cryptocurrencies are unique to Obiex?

A5. Obiex supports a variety of cryptocurrencies, including GHS (Ghanaian cedis) and NGNX (Nigerian Naira).

Q6. Can I use Obiex to pay my bills with cryptocurrency?

A6. Yes, Obiex allows users to make utility payments, including airtime, data, electricity, and cable subscriptions, directly from their crypto wallet.

Q7. What cryptocurrencies does Quidax support?

A7. Quidax supports a variety of cryptocurrencies, including popular ones like Bitcoin and Ethereum. Check the platform for the full list of supported assets.

Q8. Are there fees for swapping coins on Quidax?

A8. Quidax may have fees associated with coin swaps. It's recommended to check the platform's fee structure for specific details.

Q9. What fees does Obiex charge for coin swaps?

A9. Obiex offers zero transaction fees on coin swaps, allowing users to maximise the value of their trades without incurring additional costs.

Q10. Is customer support available 24/7 on Obiex and Quidax?

A10. Obiex and Quidax both prioritise customer support, ensuring users can get assistance promptly.

Disclaimer: This article was written by the writer to provide guidance and understanding of cryptocurrency trading. It is not an exhaustive article and should not be taken as financial advice. Obiex will not be held liable for your investment decisions.