Top exchanges to buy Bitcoin in Nigeria
trading is something I love to do and have been doing for a long time. Buying and selling Bitcoin is one of the most profitable investment opportunities in Nigeria. Since Bitcoin came into existence in 2008 till now, investing in Bitcoin and cryptocurrencies have become the smart investor's go to option.
Since the launch of Bitcoin the price has risen over 1000% each year till today and there are other cryptocurrencies they've recorded growth higher than that of Bitcoin, some as high as 4000 times the growth in the price of Bitcoin.
The return on your investment trading in cryptocurrency is very high, higher than any other investment you can put your money in Nigeria. Hundreds of Nigerians have already tapped into the awesomeness of trading in Bitcoin while others are left wondering how they can buy cryptocurrency and tap into this huge business opportunity while early bit pin investors are also looking for more people they can sell to.
The best place to buy and sell Bitcoin is a Bitcoin exchange. If you're in Nigeria and you're looking for the best exchange to buy Bitcoin, I've got you covered. This article will list 7 best exchanges you can buy and sell Bitcoin in Nigeria.
This list contains the 7 best exchanges to buy Bitcoin in Nigeria in no particular order of relevancy.
Luno is one of the most popular Bitcoin exchanges in Nigeria. Luno operates in over 43 countries but have a very significant presence in Nigeria. The platforrm offers so much in terms of a platform, in addition to providing Nigerians with an exchange platform to buy and sell Bitcoin, Luno provides their users with a well encrypted wallet to store their Bitcoin.
You can connect your bank account with the platform and buy Bitcoin using your local currency. The platform is so easy to set up and very simple to navigate, even someone with little computer skills can navigate the Luno platform and make purchase.
I have personally used this platform and I love it, I still use it for my Bitcoin transactions. You can also sell Ethereum on Luno. The great thing about it is this - you can start buying Bitcoin on the platform for as low as 300 naira!
Remitano can be considered as one of the leading Bitcoin exchanges in Nigeria. Bitcoin investors in Nigeria will give you a million reasons why buying Bitcoin from remitano is the best decision you can make as a Bitcoin investor.
Sometimes remitano offers Bitcoin at a cheaper price than other exchanges in the market. Remitano also provides users with a secured wallet and they're available in more than 50 countries asides Nigeria. You can buy Bitcoin from remitano from your bank account or meet the buyer in person and pay in cash.
The platform connects buyers with sellers by making use of the escrow system. You can buy other cryptocurrencies on remitano asides Bitcoin - they also support Ethereum, Bitcoin Cash, and Tether.
READ MORE: Bitcoin Expected To Hit $90,000 In Year 2020
LocalBitcoins is so popular not only in Nigeria but in other countries in the world. But Nigeria has a very high population of Bitcoin traders, that's why LocalBitcoins have a significant presence in Nigeria.
LocalBitcoins is basically an escrow service that connects Bitcoin buyers to Bitcoin sellers. Here you create an account and log into the platform, you search for sellers of Bitcoin, when you've settled for who to buy from the advisable method of purchase is in person - you have to meet the seller to avoid been scammed.
Buying Bitcoin from LocalBitcoins is a fast and easy process and you don't need to share your personal information with the platform when making purchase. The disadvantage of using LocalBitcoins is the rate of scams and you'll probably get scammed if you don't follow the rules of the platform. But if you follow the rules be sure you're never getting scammed.
Changelly is one of the most popular Bitcoin exchanges in Nigeria. I remember buying Bitcoin from this platform and the ease of use was simply superb. I 100% recommend buying your Bitcoin from this platform.
You can buy Bitcoin from Changelly using other coins like Doge and Litecoin. That's the only limitation it has because most Nigerians prefer buying Bitcoin using the Naira. Transactions on the platform is very fast and safe while the transaction fees are really reasonable.
There was a time when NairaEx was the biggest exchange platform in the country, although they no longer hold that position they're still one of the best exchange to buy Bitcoin. NairaEx is Nigerian based and allows you to buy Bitcoin with a minimum of 30000 Naira.
The difference between NairaEx and the new exchange giants in Nigeria is the fact they don't offer 2FA (two factor authentication) on their website. This means you have to be careful with your information on the platform. When NairaEx held sway they traded other cryptocurrencies apart from Bitcoin, but they mostly focus on Bitcoin now. This exchange is only open to Bitcoin buyers and sellers in Nigeria.
You can deposit money using perfect money
or bank deposit. This platform enables one if the fastest methods of buying Bitcoin. They don't have a wallet for storing Bitcoin, and they don't have a mobile application.
Quidax is one of the biggest platforms to exchange cryptocurrency in Nigeria right now. Many cryptocurrency traders prefer quidax due to its user friendliness and ease of navigation. Beginners and experts alike can buy and sell Bitcoin in this app without encountering any hassle.
It is a Bitcoin exchange that focuses mostly on Africa with long term plans of offering more services that'll benefit Africans. You can start buying Bitcoin on this platform with as low as 200 Naira. The funding and withdrawal option on quidax is superb.
You can buy other cryptocurrencies on the platform asides Bitcoin. Ethereum, Litecoin, Ripple can also be purchased from Quidax. They also have an integrated Bitcoin wallet where you can store your newly purchased Bitcoin.
Nigerian cryptocurrency traders consider NGExchanger (now Blockvila) as the best Bitcoin trading platform in the country, although I do not agree with this, I also do not disagree. They're located in Port Harcourt. The platform is one of the best in terms of ease of navigation, user interface and user friendliness.
Customer care is top tier - they have a functional customer care service they operate using WhatsApp (Nigerians love WhatsApp), their customer care also operates by phone call and online chats. In terms of customer care NGExchanger ticks the tight boxes.
You can buy Bitcoin in this platform either by cash, bank transfer or fund your account with your debit and credit card. They also buy and sell the highest number of cryptocurrencies when compared to other cryptocurrency exchanges in Nigeria.
Trading Bitcoin in Nigeria is a lucrative business, more Bitcoin millionaires have been created in Nigeria since the start of Bitcoin boom than any other country in Africa. Being success as a Bitcoin trader depends largely on the exchange platform you make use of, we have done our best by listing the top 7 exchanges that have worked for us, you should do your own part by trying them out and start making money from trading Bitcoin - the digital gold.