vexl bitcoin sell

Vexl: Full review on the KYC-free P2P exchange app

16th May 2024

With the constant emergence of new innovative platforms, the crypto exchange ecosystem is constantly evolving. Among these new players, the application Vexl particularly stands out with its unique proposition in the field of exchange of bitcoin peer-to-peer (P2P)

Indeed, Vexl offers an innovative and different approach. This is what allows it to attract the attention of investors and all those curious about Bitcoin. Rather than simply facilitating anonymous exchanges between users scattered around the world, the platform positions itself as a gateway to trading bitcoin in real life as well. The platform can in fact be used to bitcoin meet-ups for example.

This unique approach emphasizes connecting individuals within their existing social circles, creating an environment of trust and familiarity for Bitcoin transactions.

In this article, we will explore the different facets of Vexl. We will also highlight its strengths, its limitations and its potential to become an important application in the ecosystem.

Vexl: A P2P platform for better access to Bitcoin

The mission of Vexl is clear: to offer a simple, secure and decentralized way to buy and sell bitcoins. This, while respecting the privacy and financial freedom of users. To do this, the platform relies on several key elements that distinguish it from other P2P trading platforms.

This is why it is a simple platform accessible to everyone, even users new to cryptocurrencies. The interface is intuitive and easy to use, and the process of creating an account and making a transaction is quick and easy.

Security and confidentiality

Vexl emphasizes transaction security and user data protection. The platform uses a multi-layered security system to ensure funds and personal information are protected. Additionally, Vexl does not require any KYC registration, allowing users to maintain their anonymity.

Apart from that, Vexl is a P2P platform, which means there is no middleman controlling the transactions. Users communicate directly with each other, ensuring a more transparent and secure process. 

Key Features of Vexl

Vexl's P2P platform is intuitive with a built-in Bitcoin wallet, giving it a smooth and secure user experience. Here are some key features that make it a promising solution for buying and selling bitcoins.

Vexl app bitcoin
Vexl

There is a major function (which is the heart of the application in reality) which consists of adding members of your contacts. You can then find your contacts to carry out exchanges in real life. This is then a highly recommended option if you want to avoid using platforms.

A P2P exchange platform (marketplace)

vexl marketplace bitcoin
Screenshot

Even more, Vexl allows users to create bitcoin buy or sell ads with just a few clicks. In particular, they are free to define the price and choose the payment method. To do this, the platform uses an escrow system guaranteeing the security of transactions and the protection of user funds. 

Better yet, Vexl offers lower transaction fees than centralized exchanges. This thus promotes access to liquidity for all. The platform also supports a wide range of payment methods, such as bank transfers, credit cards and mobile payment services.

Integrated Bitcoin wallet

By registering with Vexl, users gain full control over their private keys. This is a feature that guarantees them the security and confidentiality of their bitcoins. In fact, the wallet makes sending, receiving and storing bitcoins simple and intuitive. Vexl also integrates with  Lightning Network, enabling instant and low-cost Bitcoin transactions.

Innovation at the heart of Vexl

Vexl stands out for its innovative approach to bitcoin trading. The combination of a secure P2P platform, an integrated Bitcoin wallet and unique additional features provides users with an optimal trading experience. In summary, Vexl's key features help to:

  • Simplify the purchase and sale of bitcoins;
  • Reduce transaction costs;
  • Increase the security and confidentiality of funds;
  • Provide a smooth and intuitive user experience.

How does Vexl protect its users’ funds?

Seen all the security measures put in place by Vexl, the platform is obviously keen to protect the funds and personal information of its users. It thus protects them against unauthorized access, misuse and theft.

For the security of funds, the following provisions are in place:

  • Offline Storage: Most of Vexl's bitcoins are stored in offline cold wallets, making them inaccessible to hackers;
  • End-to-end encryption: User data is end-to-end encrypted;
  • Two-factor authentication (2FA): 2FA is required for all logins and transactions;
  • Bug bounty program: Vexl encourages security researchers to identify and report vulnerabilities.

Regarding data confidentiality, the following factors are noted: 

  • Strict Privacy Policy: Vexl never shares users' personal information with third parties without their consent;
  • Minimum data collected: The platform only collects the data necessary to provide its services;
  • Anonymity possible: Users can create anonymous accounts on Vexl. In fact, the site does not require KYC verification.

In summary, Vexl seems to take user security and privacy seriously. However, it is important to note that no system is foolproof. Users should always take individual security measures to protect their funds and data. For example, they must:

  • Use a strong and unique password;
  • Enable 2FA;
  • Never share their login information with anyone;
  • Remain vigilant regarding suspicious emails and websites;
  • Keep their computer and antivirus software up to date.

Additionally, these are just a few recommendations that can help secure your Vexl account and keep you safe.

What about the user experience on Vexl?

When it comes to choosing a Bitcoin trading platform, user experience plays a crucial role in decision making. Vexl, with its innovative approach to peer-to-peer (P2P) trading, offers an enriching experience to its users.

User interface analysis

Vexl's user interface stands out for its simplicity and minimalism. Upon opening the platform, users are greeted by a clean design and intuitive elements that highlight key features. The information is presented in a clear and concise manner, making it easy for users to navigate and find what they are looking for without unnecessary confusion.

The main sections of the platform (friends, groups, market) are easily accessible from the main dashboard. Users can also quickly move from one section to another thanks to well-organized menus. Additionally, Vexl's interface is adaptive, meaning it automatically adjusts to different devices and screen sizes, providing a consistent experience across desktop, tablet, and smartphone.

Accessibility and User-friendliness

Vexl makes a point of making its platform open to all users, whether new or experienced in the field of cryptocurrency trading. Signing up is quick and easy, requiring just a few steps to create an account and start trading Bitcoin. Additionally, Vexl offers complete support to users throughout the process. Its customer support is available via email to answer any questions or concerns.

Also, users can easily browse the offers in the market. They can communicate with other users via the in-app chat and manage their transactions with ease. Vexl also offers filtering and search options to help users quickly find deals that match their specific needs.

How to buy Bitcoin on Vexl?

Here are the steps to follow to buy Bitcoin on Vexl.

1. Download the Vexl app.

The Vexl app is available on Android and iOS. You can download it from the Google Play Store.

2. Create a Vexl account

To create a Vexl account, you will need to provide an email address and password. You can also choose to create an anonymous account.

3. Verify your email address

Once you have created your account, you need to verify your email address. To do this, click on the confirmation link that was sent to you by email.

4. Set your payment method

Vexl supports multiple payment methods, including bank transfers, credit cards, and cryptocurrencies. You therefore have the freedom to choose the payment method that suits you best.

5. Find an offer to buy Bitcoin

To buy Bitcoin, you need to find a purchase offer that suits your needs. You can browse offers to buy Bitcoin by price, payment method, and location.

6. Open a trade with the seller

Once you find an offer to buy Bitcoin that is to your liking, you can open a trade with the seller. To do this, click on the “Buy” button and follow the on-screen instructions.

7. Pay the seller

After opening a trade with the seller, you must pay the seller the agreed amount. You can use the payment method you chose in step 4.

8. Receive your Bitcoins

As soon as the seller receives your payment, they will send you the Bitcoins you purchased. You will receive the Bitcoins in your Vexl wallet.

Furthermore, note that it is important to read Bitcoin purchase offers carefully before accepting them. Additionally, never send a payment before receiving the Bitcoins and use a secure Bitcoin wallet to store your Bitcoins.

Benefits of the Vexl app

Vexl has several advantages that make it an attractive platform for cryptocurrency users.

– Ease of use and intuitive interface

Vexl's interface is designed to be accessible to users of all levels, even those who have no experience with cryptocurrencies. It is simple and intuitive, making it easy to navigate and use the different features.

– Secure and transparent P2P platform

Le P2P transaction system allows users to buy and sell bitcoins directly with each other. This system offers several advantages in terms of security and transparency. On the one hand, individuals retain full control of their funds, and on the other hand, they can verify the authenticity of each transaction.

– Competitive fees compared to most exchanges

Vexl offers very competitive transaction fees, which are generally lower than centralized exchanges. This allows users to maximize their profits by reducing costs associated with buying and selling bitcoins.

Some disadvantages noted on the Vexl platform

Despite all its advantages, the Vexl platform also has some disadvantages to take into account.

– Limited liquidity

Indeed, because of its P2P operation, Vexl may have more limited liquidity than centralized exchanges or other platforms. This means that it may be more difficult to find counterparties for your transactions, especially if you want to buy or sell large volumes of bitcoin. In fact, this is because the app is new and there are not many people who know about the app yet.

– Optional but restrictive KYC verification process

Vexl offers an optional KYC (Know Your Customer) verification process, but it is quite restrictive. If you want to use the full functionality of the platform, you will need to provide personal information and supporting documents.

Our final opinion

Many users have highlighted the simplicity and user-friendliness of its interface, making it easier to navigate and execute trades. The transparency of the platform, particularly with regard to fees and conditions, is also to be appreciated.

In short, user feedback offers valuable insight into how the platform is perceived in the cryptocurrency trading industry. With some minor improvements and especially more users, the application could be more functional and practical.

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Moctar Bouraima

I am passionate about what Bitcoin can bring in terms of financial emancipation and it is with great joy that I share my articles on the subject; Whether it's blockchain, web 3, DeFi, because I know that it helps in one way or another to move the ecosystem forward.

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