Coindirect is a peer to beer cryptocurrency exchange were you can buy and sell bitcoin and 47 other altcoins. This bitcoin exchange is closing the missing gap in some countries where there’s not much bitcoin buying and selling.
You can also trade your bitcoins with some of the major cryptocurrencies like Ethereum, Ripple, Monero and many others.
On Coindirect you can buy bitcoin using two options: Convert and Peer to peer
All of this will be explained below, keep reading.
Please Note: If you use my referral link to buy bitcoin using Coindirct I will receive commission from all your sales. Thanks in advance for keeping this site running. You can sign up with coindirect here.
Coindirect supported countries:
South Africa, Kenya, Nigeria, the United Kingdom, Australia, Belgium, Canada, Finland, France, Germany, India, Ireland, Italy, Malaysia, Namibia, Netherlands, New Zealand, Pakistan, Saudi Arabia, Singapore, South Korea, Spain, Thailand and United Arab Emirates
If your country is not on the list, contact Coindiect and out whether they are planing to add it any time soon. What I know is that they are adding new countries every month. You will soon be able to buy bitcoin using coindirect in many countries.
Coindirect is among the best bitcoin exchanges when it comes to fees. They only charge 1% when you sell bitcoins. You are not charged anything for buying coins on their site. This means you get your bitcoins as they are. Coindirect is applying WYSIWYG(What you see is what you get) on their platform. This means you won’t have to pay any extra fees.
Payment methods you can use to buy bitcoin using coindirect include the following:
+Bank Transfer – Mainly this is National Bank in your country
+Mobile Money Transer – M-PESA can be used in this method
+Online Payment – Paypal is the best option for most people.
How to register on Coindirect:
Coindirect registration method is one of the simplest methods you will find. To register you just need to click on the Sign up link. Then you will be taken to a form with only two fields to fill. That’s were you will have to enter basic personal details, your email address and your password.
There are three wallets that are given to you after registering, you receive s Bitcoin Wallet, Ethereum Wallet, and USDT Wallet. You also have the option to add more wallets for other cryptocurrencies.
How to verify your identity on your account:
The next thing to do before buying bitcoin, is to complete your profile and verifying your identity. For both methods click on profile link, you will see Personal Details link, click on it and complete the form.
Enter your full name, surname, display name of your account, mobile number and other remaining fields.
And the next thing is to upload a selfie with your ID or Passport, Upload your proof of residents(not older than 6 months) and ID or Passport Document. All your documents need to be clear and visible so that your account can be verified faster.
Is very important to verify your account since some bitcoin sellers will only sell to verified buyers. This insure safe trading in the peer to peer exchange platform.
How to buy bitcoin using Coindirect:
Use Bank Deposit to Fund your account
If you want to buy bitcoin using Coindirect you will have to deposit funds in your account The bank deposit option allows you to fund your account direct from a local bank using electronic fund transfer(EFT). You can use bank deposit for any 20+ countries they support, that’s if you are within those countries. If you are in South Africa for example, you will notice the big banks of South Africa: ABSA, FNB and Standard Bank. You can also use other options if you don’t want to use the big ones.
Here’s an example of Bank Deposit screen below. In your case it might different if you are not using First National Bank. It might show different bank details, those are the details you will have to deposit funds to.
Once your account is verified you can then fund your account before you buy bitcoin on Coindirect by Depositing Funds from your bank account. You will have to click on the Fund link at the top then choose the Coindirect bank account you want to deposit into.
Using another method, you can use the Peer to Peer method where you will buy bitcoin from some one.
One other method is to convert your existing altcoins and convert it to another currency.Other altcoins can not be converted direct from each other. So you might have to convert them to bitcoin first before converting them to the currency you want.
Use Peer to Peer(P2P)
You can also use the P2P option to buy bitcoin on coindirect. With the peer to peer option you will buy bitcoin from someone, a user within the platform. This is very easy to do, click on the Peer to peer you will then see a list of sellers. Click the buy button next to the seller then complete the process.
Sell bitcoin on Coindirect
Is also easy to sell bitcoin on Coindirect. You can use the similar process of buying through the peer to peer procedure. If your coins are in another currency it would help to first convert it to bitcoin before attempting to sell.
How to make money with bitcoin on Coindirect.
Coindirect gives you three options to make money using their platform. The first method is by using the peer to peer exchange. This means you make money with bitcoin by buying bitcoin at a lower price and selling it at a higher price.
The second method is to trade in their trading platform, this include price change so you might want to get a bit of training on how to trade.
The third way to make money on Coindirect is to participate in their affiliate program. You earn 20% when some sign using your referral link and buy bitcoin. Their affiliate commission is recurring so you will earn bitcoins from them as for the lifetime of your referred users.
Click here to sign up with CoinDirect