Trading cryptocurrency has not been easy especially when you want to exchange it for fiat, though some exchanges accept fiat exchange and they don’t have a pair for currencies on the Steem blockchain. This has been a problem for most Nigerian as there are lots of crypto rippers and scammer who just want to steal from people, escrow services were also created for a more secure form of exchange but they all have a specific amount of fee that is being charged per coin and this has made the returns in fiat less than expected. Olamax.io is a new solution made for Nigerians by Nigerians.
Olamax.io is a Nigerian exchange where you can easily trade your cryptos for Nigerian naira. They currently support the following cryptocurrencies and are planning to add more in the future.
- Bitcoin
- Dogecoin
- Steem
- SBD
The website interface is user-friendly and can be easily used by an amateur. And you need to register for an account before you can start any transaction.
To buy any crypto on the olamax.io exchange, you need to pass the KYC (Know Your Customer) verification process.
To sell any coin the KYC verification process is not required and follow the following steps (I am using steem as an example)
The first thing to do is to click on the SELL icon next to buy and then choose your preferred currency.
I was trying to sell 15steem so I chose my preferred currency which is steem and the amount in naira reflected instantly
The next step is to fill in your bank details and click on Begin Transaction
You would then be given two options as seen in the image above and I choose steemconnect which successfully sent the steem toon the steem blockchain
My money was paid into my bank account within a minute of transacting with Olamax and I got the above on-screen message.
