Blockvila Review – Is It Still Nigeria’s #1 Cryptocurrency Exchange?

In this review, I will give you reasons you need to start using Blockvila.

Blockvila is one of the 10 best exchanges to buy/sell bitcoin in Nigeria (2021).

It has been in operation for over 4 years and has been straightforward with its users ever since.

In terms of buy/sell cryptos, Blockvila’s solid exchange can never be overrated.

Well, as I take you through this review, we will get to uncover all the amazing features of this exchange.

Let’s get started!


Post Summary

To give you solid details about Blockvila, here is what I will discuss in this review.

  1. Blockvila Overview
  2. Unique Features of Blockvila
  3. Product and Services
  4. Supported Countries and Currencies
  5. Transaction Charges|Payments Methods
  6. Transaction Limits|Verification Requirements
  7. Customer Support
  8. Frequently Asked Questions (FAQs)
  9. Conclusion

All set? Let’s head straight to the review!


Blockvila Overview

Blockvila (formerly known as Ngexchanger) is an independent exchange company situated in Nigeria.

It is a subsidiary of Nyxel Integrated Services – an ICT company registered under CAC with registration code BN 2491541.

Blockvila started as a broker exchange in 2016; and specialized squarely in buying and selling cryptos and e-currencies.

However, a few years after, it started diversifying its business scope to accommodate additional services.

In April 2020, it integrated Bitcoin mining in partnership with a reputable mining company.

Another good thing is that it launched its own cryptocurrency ( the Vila coin) alongside this mining platform.

Early this year, in January 2021, Blockvila launched its P2P exchange. This allows crypto traders to buy/sell cryptos with one another via an escrow system.

Undoubtedly, this launch of P2P is of great advantage to every Nigerian crypto trader, as it is one of the ways for Nigerians to bypass the CBN crypto ban.

Scroll down, if you wish to learn more about Blockvila!


Unique Features of Blockvila

  • Improved user interface
  • Increased security
  • Transparency
  • AML/KYC compliance
  • Excellent support system
  • Multiple currency support
  • Instant funding/withdrawals
  • Cashback bonus

Visit Site

Next, I’ll show you the services offered on Blockvila.

Read on!


Product and Services

At the moment, Blockvila offers 4 services;

  • P2B
  • P2P
  • Mining
  • Wallet

1. P2B

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P2B is the first service to be offered on Blockvila exchange.

It supports the instant buy/sell of cryptos and e-currencies directly from Blockvila.

To access Blockvila P2B, click on “P2B” found at the top right corner of the site.

Visit Blockvila P2B

2. P2P

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This is a platform where traders meet to trade with one another using any payment method of their choice.

The trade that goes on here, is, however, modulated by Blockvila through an escrow system. This is to ensure that no party is defrauded.

You can learn more about Blockvila P2P right here.

Visit Blockvila P2P

3. Mining

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Blockvila is currently giving exposure to bitcoin mining to everyone.

It offers up to 8 mining packages, and over 20,000 users already have access to this service.

Learn more about Blockvila mining here.

Visit Blockvila Mining

4. Wallet

Blockvila provides wallets for all the cryptos listed on its P2P platform.

But for the P2B, users are provided with a BTC wallet alone.

Now, let’s head over to the next section for more details.


Supported Countries and Currencies

Supported Coins

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Coins Supported on Blockvila P2B

All cryptocurrencies listed on coinmarketcap are supported and available for purchase on Blockvila P2B.

You may not get to see all these coins on your dashboard, as Blockvila only listed a few of these coins.

These are the cryptos you will get to see on your dashboard:

If the coin you want to buy or sell is not listed, contact customer support to proceed with the transaction.

For E-currencies: Only Perfect Money is supported.

Coins Supported on Blockvila P2P

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether (USDT)
  • Blockvila coin (VILA)

Fiat

  • Nigerian Naira (NGN)

Supported Countries

Blockvila is available only in Nigeria but can be accessed by users all over the world.

However, if your country does not support the transfer of funds to a Nigerian-based account, then, Blockvila isn’t for you.

You can try other alternative platforms such as QuidaxLuno, and Remitano.

Below, I will walk you through Blockvila’s fee rate and payment method..let’s dive in.


Transaction Charges|Payments Methods

Transaction Charges

P2B Charges

Sell fee : ₦52 ( Stamp duty Charge)

Blockvila does not charge a transaction fee. The fee that you see above is a tax charge, and it goes to the Nigerian government.

Notwithstanding, this does not mean that Blockvila is not generating any revenue from its service.

However, we can say that it compensates for this through the high rate that it charges.

P2P Charges

  • Makers – None
  • Takers – 0.6%
  • Swapping – 0.5%

Mining Fee

Maintenance fee – 0.5%

Payment Methods

For P2B

  • Cash deposit
  • ATM transfer
  • Bank Transfer

For P2P:

  • Bank Transfer
  • UPI
  • Paytm

For Blockvila Mining

  • Bitcoin
  • Credit card

See the next subheading!


Transaction Limits | Verification Requirements

Transaction Limit

Blockvila does not have a transaction limit both for P2P and P2B.

However, your account must be verified if you wish to perform a trade.

Verification Requirements

For P2B

  • A valid ID Card: Drivers Licence,  Int’l Passport, National ID Card, Voters card 
  • Proof of address:  PHCN Bill, Bank Statement, Water bill 
  • Proof of Consent: A picture of yourself holding a piece of paper, that has your name, email and date.

For P2P

  • Email address
  • Phone number
  • Proof of identity: Passport, Driver’s License, National ID, Voter’s Card
  • A clear image of yourself holding your proof of ID

For Mining

  • Full Name
  • Email Address
  • Bitcoin Address

Next, I will show you how to contact support…let’s head straight to it!


Customer Support

Blockvila takes customer support very seriously!

You will find a comprehensive knowledge base where most questions users might have were answered.

However, for further inquiries, you can reach the team via the following channels:

  • Live Chat
  • Email – [email protected]
  • Phone numbers – +(234)7053590609, +(234)8103996021

Follow me to the next subheading. Over there, I will answer some of your common questions!


Frequently Asked Questions (FAQs)

1. How do I buy bitcoin from Blockvila P2B?

Go to Blockvila.com and click on “P2B”. This will take you to the Blockvila “P2B” platform.

– Click on “sign up” and create an account by filling your profile into the form displayed on your screen.

– You will receive a verification mail, click on the “Verification Link” to activate your account.

– The “Verification Link” will lead you back to the platform. Input your “Username or Email and Password” and click on “Sign in”.

– Once signed in, you will be ushered into your “Dashboard” where you can start trading immediately.

Remember that you have to verify your account before you could start trading.

2. Does Blockvila have a Referral Program?

Yes, it does!
Blockvila has a unique referral link for every registered customer on its P2B, P2P, and Mining platforms.
This it did, to appreciate users who promote their brand by inviting their friends to its exchange.

On Blockvila P2B – Users get a 50 naira commission for every invite.
Plus a commission of up to 0.5% to 1% of the
invite’s total transactions both from their “BUY and SELL” order for a lifetime.

Whereas on its P2P,users get a 20% transaction fee bonus on all their referrals for 12 months.

For Mining – Users earn a 5% bonus from their referrals when they purchase their first mining package.

3. Is Blockvila Legit?

Blockvila has a solid reputation and is one of the top-ranked Nigerian crypto exchanges.
It boasts of good service delivery, instant transactions, and quality customer support.
The founder is known, and the location of the exchange is made open too.
Interestingly, this exchange has been in existence for years now, yet it is up and running without a “theft story” so far.
Moreover, it has a 5/5 rating on Google.
With all the reasons given above, I can proudly say that this exchange is Legit.


P.S
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Conclusion

Blockvila has been trusted by many to get the job done.

But however, the exchange is not flawless as can be seen from the pros and cons below (see product rating below).

The platform is a decent choice for starters as well as any average cryptocurrency enthusiast.

I’m assured that in this post, we have learned;

  • The supported currencies on Blockvila
  • Payment methods and so on.

Now tell me,

Have you signed up with Blockvila yet?

If so, on a scale of 1 to 10 (with 10 being the highest), how would you rate your experience with Blockvila?

In what way do you think the exchange can be improved?

Or maybe you have a question about something I mentioned in the post?

Let’s talk about them on the comment section below.

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Related Articles;

Blockvila

0.00
9.3

Reputation

9.0/10

Customer Support

9.5/10

Ease of Use

9.0/10

Fees

9.5/10

Pros

  • Multiple Currency Support
  • Instant Transactions
  • Solid customer support
  • Great User Interface

Cons

  • No Mobile App
  • Supports Nigeria Only

Paschaline Anagor

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