Many Nigerians use Bitcoin (BTC) to pay and invest instead of Naira due to its high volatility. If you are in Nigeria and thinking of holding some Bitcoin, here you can buy Bitcoin with debit card (bank transfer) and gift cards within 5 minutes. Jul 07, · Buying of bitcoin in Nigeria or; Selling/converting your bitcoin to cash in your local bank account. Kindly check out this list of the best platforms to buy and sell bitcoin in Nigeria. Well, I present you with an Honest overview of the complete list of the best exchanges to buy and sell cryptocurrency in Nigeria. NairaEx is a leading Nigerian Bitcoin exchange where users can buy and sell bitcoin, perfect money and other e-currencies with Nigerian Naira at best rate.
Bitcoin login nigeriaBuy Bitcoin in Nigeria:- The 10 Best Exchanges ( Upate)
From my over 4 years of experience in cryptocurrency trading, these are the most efficient, reliable, reputable, and safest exchanges used by most Nigerians. Luno 4. Visit Exchange. Read Review. It was launched as Bitx in and later rebranded to Luno. Its biggest market is South Africa and Nigeria.
Quidax is a leading Nigeria Bitcoin Exchange that was launched in August It is the first exchange owned by a Nigerian to meet and surpass International Standards. It is the biggest cryptocurrency exchange in the world by trade volume with over coins actively trading on the platform.
Binance in introduced the Naira wallet allowing Nigeria users to buy bitcoin directly with Naira on the platform. Remitano is the safest and the most used P2P Bitcoin exchange in Nigeria. Over million-naira worth of bitcoins are traded on Remitano from Nigeria each day. It beats other Peer-to-Peer exchanges in terms of security, customer support, services offered, and the number of supported coins.
It was launched in as Ngexchanger but later rebranded to Blockvila to indicate that its business now extends beyond the shores of Nigeria. It is based in Port Harcourt Nigeria and still remains one of the safest exchanges to buy bitcoins of any volume in Nigeria. The exchange was launched in as Bitkoin Africa but later rebranded to BuyCoins in February Its unique selling point is that it has over payment methods to buy bitcoin with.
I personally have not sold gift cards for Bitcoin on this platform but I have sold Neteller and Webmoney for Bitcoins. Another amazing thing to know about Paxful is their Charity outreach. They have sponsored a number of school building projects in Africa. However, unlike Remitano that makes it very difficult for a trader to defraud other traders on its platform, Paxful is less regulated by its customer support thus you have to observe safety precautions not to get defrauded. You can check out my review of Paxful for more details.
Redeem is the safest P2P exchange to sell and buy over 30 gift cards for Bitcoin at the best rate. I have done an extensive review of the platform and how to use it. Yellow card is a relatively new platform. It was sponsored by Binance to increase the adoption of Bitcoins and other cryptocurrencies in Africa.
It offers excellent service and might make my list in Currently, you can only sell bitcoins on Redimit. The service is solid. However, It needs to upgrade its interface. Also read: Bitcoins exchanges in Nigeria: The Complete list over If you have carefully followed this post, you will see that the exchanges are of different types. They have their particular use cases and types which I will explain in the next section.
For me, Luno , Quidax , Binance are a must-have if you want to quickly buy, sell, or trade bitcoins. Since they all support instant deposit and withdrawal in Naira, you should create an account with the 3 of them in case of an arbitrage trading opportunity. On Remitano, you can buy a huge amount of bitcoin at a very good stable price if you understand how to use it. If you need to sell or buy GiftCards safely at the best price, Redeeem is no doubt the best. Finally, if you want to sell or buy e-currencies like Neteller, Paypal, Perfect Money, etc.
This is the simplest type of exchange. It is the first generation of BTC exchanges. How it works basically is that you pay money to the exchange and they send bitcoin to you or, you send bitcoin to the exchange and they send money to your bank account? This type of exchange does not directly sell or purchase BTC from its users, rather they connect buyers to sellers and modulate the transaction using an escrow system. This is an OTC between two persons directly. This is how It works;. In case Ivory refuses to make the payment or Mike refuses to confirm it, they both have to present proof to the exchange, and the exchange will release the bitcoin to whoever is correct and probably ban the liar.
Trades here are executed instantly. I have shown you the best 10 bitcoin exchanges in Nigeria and how to buy Bitcoin really fast on Luno. If you want to learn how to trade cryptocurrencies profitably, then enroll for our Crypto Currency Mastery Course by going to www.
Am overwhelmed. You have opened my eyes. Almighty bless you. How much do I need to start trading as a beginner? When will the course be out? Do you hold seminars? BitPesa also has a presence in 2 other African countries. In Nigeria, you can use BitPesa to buy bitcoins with your debit card or Paga account. Purchase method for Kenya is coming soon.
You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. While Luno or NairaEX will let you do this, their interfaces are similar to Coinbase in that they're geared toward retail investing rather than trading.
Additionally, liquidity may not be great enough on these smaller exchanges to avoid slippage, which will cut into your profitable trades and magnify your losses. The best platforms for trading are the large exchanges with global coverage. These exchanges list hundreds of asset pairs, have deep orderbooks, and are less prone to downtime than smaller operations.
You may find CoinMarketCap's ranking of exchanges by overall liquidity useful when deciding where to take your business. In addition to Binance - whose offerings tailored to Nigerian customers we went through above - some good choices of exchange are Kraken , Bitfinex , and Coinbase Pro. All of these exchanges will provide you with a customizable trading interface, complete with all the tools and indicators you could need to maximize your chances of trading profitably.
We've compiled a list of the best Bitcoin exchanges in Nigeria, from locally-operated exchanges to worldwide market leaders with especially good offerings for Nigerian users. NairaEX touts itself as "Nigeria's Premier Bitcoin Exchange" and it is indeed the only Nigeria-based exchange currently open for trading. There are no additional trading fees for buying or selling on NairaEX.
Instead, fees are baked into the price of the asset. You can see the current spread on NairaEX's homepage. One major benefit of NairaEX's setup is that it is a non-custodial exchange. This means that your assets are not held in a centralized wallet, which are prone to hacks, but instead are sent directly to your own wallet once the transaction has been processed. Their official blog has a helpful post outlining the differences between Bitcoin and Perfect Money for those unfamiliar with both e-currencies.
Luno was originally launched as BitX in and since then it has grown to be a player in some niche markets around the world. Deriving most of its volume from South Africa, Luno is also popular in Nigeria and has recently expanded to service Bitcoiners in Uganda too. Add to this list Europe, Indonesia, and Malaysia, and you've got yourself an exchange worth considering.
Luno aims to provide a competing service to Coinbase , and has made its offerings available in many countries not served by the larger exchange.
Since our original in-depth review of Luno , they've added support for Litecoin , which along with Bitcoin, Ethereum, and XRP are available for trading. Notably, Luno allows you to purchase crypto using a credit card. You can deposit and withdraw directly to a bank account.
Luno also offers Paystack and PayU deposits for Nigerian customers. These fees are very competitive compared to other exchanges. This puts it in rd place out of in Nomics' review of exchanges by liquidity and transparency. Luno boasts a clean trading interface in the same style as most, meaning you shouldn't have much trouble switching over from a different exchange.
You can trade on the Luno app, which is available for iOS and Android. More advanced features include API integration for automated trading, liquidity depth indicators, and the ability to export your trade history in a. Local Bitcoins is a great option for buying and selling Bitcoin in Nigeria using a variety of payment methods. Once a deal is opened, the seller will fund the escrow wallet with the Bitcoin to be bought. The buyer will transfer the money and once the seller confirms receipt they will release the BTC.
Should there be any disagreement, the BTC will stay locked in escrow until a solution is found, which may require LocalBitcoins stepping in to act as mediators. These events are run by local experts and aim to educate and raise awareness about Bitcoin and blockchain. Complementing its education program, Binance has also made it easier than ever for Nigerians to buy, sell, and trade crypto on its platform.
You can now deposit NGN directly into your Binance account using a credit or debit card, following a partnership with Flutterwave. In Sub-Saharan Africa, about 95 million people remain unbanked while many regions in the area, including Nigeria, have embraced new technologies with an increasing amount of innovation.
Working with Flutterwave will help bridge the fiat-to-cryptocurrency gap and we hope to stimulate more financial inclusion as Africa demonstrates strong potential in leading crypto adoption. In addition to allowing users to buy Bitcoin with a debit or credit card, Binance also has a peer-to-peer P2P marketplace, similar to Paxful or LocalBitcoins.
The price you see is the price you get.