Extra Security on Mobile App and Unlocking your Account

Thank you!

It seems way too early to say thank you, seeing as most companies say it at the end of the year or during customer service week in November. 
We have decided to skip that and say “Thank you” today.

For one we want the year to end already and hope the next one brings a breath of fresh air with no viruses.

The real reason we are saying “Thank you” is for the feedback we receive from you. Sometimes they are brutally honest that they make us cry ?. 
But most times they tell us that you care ?? and are urging us to achieve our goal of a simple, stress-free cryptocurrency exchange.

Now let’s talk about feature updates that are going live on Wednesday, 1st April 2020 by 6am (UTC+1).

Locked Accounts

In our last product update, we mentioned we had released an alert that notifies you when entering the wrong password to your account multiple times.

At the time if your account got locked you would have to go through the bothersome process of sending your picture and a bunch of other information.

We are making a change to that.

If after entering the wrong password multiple times your account would get locked the same as before. However, the difference is you would receive an email with a link to reset your password.

Yes, you won’t need to contact support all you would need to do is tap on the link, change your password and sign in. Then you would have access to your account.

BVN Verification

Also in our last update, we mentioned how we added text message verification to part of verifying your Bank Verification Number (BVN). We have now made an update on top of that.

We are merging Level 1 Know Your Customer (KYC) and Level 2 KYC. What this means is that once you sign up you would no longer need to complete Level 2 before you can withdraw. Also, the deposit limit has increased. Here are the new deposit limits:

  • Daily Deposit and Withdrawal Limit: NGN 200,000.00
  • Weekly Deposit and Withdrawal Limit: NGN 1,400,000.00
  • Monthly Deposit and Withdrawal Limit: NGN 5,000,000.00
  • Daily Bitcoin withdraw limit: 1 BTC (or it’s equivalent for other cryptocurrencies)
  • Weekly Bitcoin withdraw limit: 5 BTC (or it’s equivalent for other cryptocurrencies)
  • Monthly Bitcoin withdraw limit: 10 BTC (or it’s equivalent in other cryptocurrencies)

And the last 2 updates are ones we are bringing to the Quidax mobile app having implemented them on the website.

The first is a 6 character code, that we send to your email when you sign in to the mobile app from a new device.

While the second is a code we send to your email when you try to withdrawal or send crypto using the mobile app.

This aims at increasing the security of your transactions and is in addition to 2-factor authentication which we recommended you set up.

That’s a wrap Quidaxians, please don’t hesitate to give us feedback, you could even drop one now.


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