Contest: My favorite crypto exchange by @christnenye

Hello everyone, welcome back to my blog. This is my first time of participating in a contest organized by an amiable steemian @josepha in this great cidatel of learning Steem-database community.

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Preamble

A cryptocurrency is plainly a channel of payment( similar to our fiat currency) which makes use of a complex set of mathematical codes, as system called cryptography to encode the transactions made. This currency is more like our normal money just with difference of been unseen and untouched. Cryptocurrency has characteristics of transaction anonymous, decentralization, accessibility, no intermediaries and irreversible transactions.

This cryptocurrencies are traded on platforms known as crypto exchange. Without much ado, I will go straight to the contest questions.

What is the name of your favorite crypto exchange, and who owns the exchange?

My favourite crypto exchange is Roqqu, Roqqu is a Nigeria-based crypto exchange owned by Eseoghene Onomor that accepts trading of crypto with fiat currencies directly, this implies that one doesn't have to place trades on a stable coins before buying.

To make use of the exchange one doesn't need to have prior knowledge on how to navigate because the various options/features are written in simple English. One of the remarkable advantage of the exchange is that it's more profitable for sellers of crypto assets than other crypto exchange because of its buying price though the service fee is higher about 2.0% for every assets traded on the exchange.

Do you know how to buy cryptocurrency from your favorite crypto exchange using fiat currency? If yes, briefly tell us how to do that so we can start using the exchange. Note: A screenshot is very important. You can hide your personal information.

Like I said earlier, the crypto exchange Roqqu uses fait currency and is very easy to navigate and understand. Before one can buy any cryptocurrency, the crypto exchange needs to be funded either through bank account or through wallet which after the buying follows suite.

If one wants to buy Steem cryptocurrency for instance the first step you will take is to download the app, sign up using email address after which you will do the necessary verifications of NIN(National identification number and BVN (Bank verification number), deposit fiat currency on the exchange then buy the cryptocurrency.

To buy any cryptocurrency like Steem on Roqqu Using images to illustrate;

First step
Click on the cryptocurrency (Steem), then click on the buy option as shown below

Second step
input the amount you want to use and buy the cryptocurrency

Third step
Confirm the transaction by confirming the gas fee, the number of Steem coins the fait currency can buy based on the current price.

Does your favorite crypto exchange trade Steem coins? If yes, please show us the current price of STEEM at the time of writing.

My favorite crypto exchange contains varieties of coins of which STEEM coins isn't exempted and at the time of this writing the current price of Steem coin is #121.73kobo. the screenshot is below

Have you ever bought STEEM using your local currency and sent it to your Steemit wallet?

No, I haven't done it before but i know the process. Every cryptocurrency has its unique address that is used to perform any transaction. For instance if I want to send Steem coin from my exchange to steemit wallet using my local currency NAIRA all I need to do is deposit fiat currency to my exchange, buy the Steem coin and finally, send the steemcoin to my steemit wallet making sure that the Steem wallet address is correct. The below illustrates

Step 1
This can be done when the fait currency has been used to buy the Steem coin on the Roqqu, then click on the send option.

Second step
Input the steemit account name, the number of Steemcoin, and the steemit wallet address and finally click on proceed.

Between buying cryptocurrency and selling which is more faster and easy for you.

Buying and selling using Roqqu exchange is fast and easy but the most fastest and easiest for me is selling this is because depositing fait currency often takes minutes to reflect on the wallet before one can proceed to buy the desired coin while to sell just takes few seconds for the coin to return to fiat currency.

Conclusion

Overall, this is the end of my entry and to summarize, all crypto exchange are good, reliable but one always have a preferred choice. If given opportunity to choose I will always go with Roqqu exchange.

I invite my friends @mato445, @starrchris and @jueco to participate in this contest