At Quidax, keeping your funds secure is our top priority and your BVN allows us to add an extra layer of security to your account and on our exchange. With BVN we ensure all traders on Quidax can trade without worrying about who the other customers on Quidax are.

We understand that this can raise questions, especially if it’s the first time you’re being asked. So here a few frequently asked questions about BVN:

Why is Quidax asking for my BVN?

Your BVN is a unique ID to help protect your identity and reduce fraud. We request it:

• To verify your identity
• Allows us to keep your account safe and funds secure
• Ensures that we keep people with bad intentions locked out.
• Allows us to continue to deliver fast fiat (Naira) withdrawals and possibly add faster options.
• Helps us maintain the trust of other exchanges when you send crypto from Quidax to other exchanges.

What Your BVN Looks Like

Your BVN is a unique set of 11 numeric characters, usually starting with '2'.
 

How to Get a BVN

If you hold a bank account, you should already have a BVN. You can retrieve it by dialing *565*0# on the mobile number linked to your BVN. If you've never been issued a BVN before, please reach out to your bank to request one.
 

How Quidax Verifies Your BVN

The entire BVN submission and verification process takes less than 5 minutes. Once you log into the app, you will see a prompt to provide your BVN on the homepage. This should look like this:

If your BVN is yet to be verified and you attempt a withdrawal, you will see a BVN prompt as a pop-up. This looks like this:

[Insert image here]

Please click on the "Verify" button within the BVN prompt, then insert your BVN and submit.

Once you've successfully submitted your BVN, you should see this:

In the meantime, we're passing your BVN through our verification database system. You should receive an email confirming your BVN verification status within 3-20 seconds. If you don't receive an email within this timeframe, please wait an additional 10 minutes, then reach out to us via support@quidax.com.

If your verification is successful, voila!

If it fails, please refer to this guide please contact support@quidax.com

I didn’t submit my BVN when I registered. Why are you asking for it now?

We need your BVN to verify your identity before processing your request, especially in cases where there’s a delay, error, or risk detected in your transaction. We ask because knowing who you are, helps us keep your wallet safe.

Is it safe to share my BVN with Quidax?

Yes. Your BVN is safe with us. We use advanced security protocols to encrypt and securely store all personal data. We do not and cannot use your BVN to access your bank account(s).

Why are you asking for my BVN to resolve a crypto deposit or withdrawal?

Sometimes when there’s a delay or unusual activity on your account, our team may request your BVN. This is to make sure your funds are protected.

What’s the link between BVN and my transaction? I’m not doing a bank withdrawal.

BVN helps us verify your identity. Whether it’s a crypto or fiat issue, this extra step helps us keep your account secure and keeps bad actors from using Quidax.

I’m not comfortable sharing my BVN. Can I still access my funds?

We totally understand the concern. We have added BVN as a requirement to increase security. It is a one time request which we only require on withdrawal.
 

Why does it feel like BVNs are only asked when money is stuck?

Be rest assured, the request is to help protect you, not frustrate you. BVN is required to keep your account safe and ensure no one else has access to your account.

Still have questions? Reach out via in-app chat or email us at support@quidax.com. We’re here to help.