MYCAAPA checks off several of the most important boxes for a crypto exchange. It’s highly secure, easy to use, and has very low fees. While those are all great perks, it also has a couple of major issues. You can use it if you’re in the NIGERIA, and its cryptocurrency selection is the best. Check out our full MYCAAPA review to learn if it’s the right exchange for you.
Full Mycaapa review
This cryptocurrency exchange is a good fit for: Crypto traders who primarily value low fees and excellent security. Made with beginners in mind, Mycaapa is a fantastic choice for those who are new to crypto.
Pros
- Beginner-friendly crypto trading
- Offers interest on crypto savings
- Low fees
- Secure storage
- Educational resources
Top perks
Beginner-friendly crypto trading
As an exchange, Mycaapa makes crypto trading easy and accessible. It has a beginner-friendly web platform, so if you’re new to crypto and you want an exchange without much of a learning curve, Mycaapa is an excellent choice. You can sign up and verify your identity in minutes. After that, you just deposit money through one of the accepted payment methods, and you can buy crypto.
Earn interest on crypto savings
Mycaapa offers a Savings wallet where you can earn a variable interest rate on your crypto holdings. There are Savings wallets available for three types of cryptocurrency:
- Bitcoin (BTC)
- Ethereum (ETH)
- USD Coin (USDC)
If you invest in any of these cryptos, putting them in a Savings wallet is a simple way to make passive income.
Low fees
Trading fees on Mycaapa are competitive with those of the best cryptocurrency exchanges. Maker-taker fees start at 0% and 0.1%, and can get lower for investors with high monthly trading volume. There aren’t many platforms that beat crypto trading fees of 0.1% or less.
Secure storage
Security is important for any crypto exchange, and this is an area where mycaapa excels. It uses what it calls “deep-freeze” crypto storage for the majority of customer funds. The keys for this crypto are encrypted, and kept in bank vaults inside safe deposit boxes. The small portion of its crypto that mycaapa uses for day-to-day operations is kept in a combination of cold (offline) wallets and hot (online) wallets.
Educational resources
Mycaapa has some of the better educational content we’ve found from a crypto exchange. Its learning portal includes articles on cryptocurrency in general, and about each of the cryptocurrencies it offers. It also has videos accompanying many articles, and a blog with the latest crypto news.
Mycaapa content is informative and understandable. It’s also not overly complicated, which is a common issue in the world of crypto
How Mycaapa worfis
Mycaapa is a cryptocurrency exchange with a web platform and mobile app. It’s available in 2
countries, includes Nigeria and South Africa Here’s what you can do on Mycaapa:
- Buy, sell, and trade cryptocurrency on the Mycaapa exchange
- Set up a Repeat Buy to automate your crypto investments
- Send eligible cryptocurrencies to a Savings wallet and earn interest
- Store your crypto securely in a Mycaapa Wallet
- Transfer crypto free of charge to friends and family members who have a Mycaapa account
- Create crypto price alerts to receive notifications on your phone
You can deposit and withdraw money with Mycaapa through a transfer from your bank account. Depending on your country, you may also have the option to add money to your account using a credit or debit card. Review transaction fees with each method so there aren’t any unexpected costs.
Cryptocurrency selection
Mycaapa supports the following cryptocurrencies:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- USD Coin (USDC)
Cryptocurrency selection is a Mycaapa weak point. It’s missing quite a few major cryptos, including Cardano (ADA), Solana (SOL), and Polkadot (DOT), and it doesn’t have any smaller-cap coins to check out. Several crypto exchanges offer dozens of coins, so Mycaapa is behind the curve.
Is your cryptocurrency safe with Mycaapa ?
Mycaapa has high security standards — in terms of crypto storage and account security, mycaapa offers some of the best protection in the industry.
Most of the cryptocurrency funds mycaapa manages are stored in cold wallets, crypto wallets that aren’t connected to the internet. Since they’re offline, hackers can’t access them. Mycaapa stores these cold wallets in physical bank vaults inside safe deposit boxes, which it calls “deep-freeze” storage. Only specific individuals can access these safety deposit boxes, and no one has access to more than one.
Since it’s difficult even for the exchange to access crypto in deep-freeze storage, it keeps a small portion of its crypto more accessible for day-to-day operations. This crypto is still extremely secure, with some stored in cold wallets and some in hot wallets connected to the internet. The only way crypto can be spent from a hot wallet is if both the mycaapa exchange and its partner authorizes the transaction.
Though your crypto should be safe on mycaapa, you also need to guard your account. Mycaapa offers several features to help with this:
- Accounts can be protected with two-factor authentication (2FA), meaning two forms of authentication (such as your password and a one-time code generated on your phone) are required to log in.
- You can disable sending cryptocurrency stored in your mycaapa It’s then not possible to transfer crypto out of the wallet until you reauthorize it.
- Mycaapa requires your authorization to perform potentially high-risk activities, such as sending crypto for the first time on a new device, sending amounts over $10,000, and changing the email address or phone number on your account.
- Mycaapa automatically blocks transactions that involve high-risk crypto addresses that
have been associated with illicit activity.
Mycaapa is right for you if:
- Your biggest priorities in a crypto exchange are security, low fees, and ease of
- You want to safely earn interest on your crypto
- You live in one of the countries it
Learn More
Learn more about how to trade your bitcoin and USDT directly from our website www.Mycaapa.com
