If you have been following our bitcoin news, you are already familiar with how this goes. The next list will provide you with all the best exchanges to buy bitcoins in Nigeria. If you are new to the website, there are plenty of other exchange reviews sorted by countries so make sure you check them out.
This is a Nigerian bitcoin exchange and possibly the most popular one in Nigeria. Here, you can buy and sell bitcoin but also other altcoins as well. The customer support is excellent and the website is extremely user-friendly. The company does not display all the cryptocurrencies they sell so you would have to contact them before a purchase.
Nairaex is among the top 3 crypto exchanges in Nigeria from which you can buy Bitcoins. Here you can buy and sell other cryptocurrencies as well. The exchange only accepts minimum 20,000 NGN trade.
This exchange is now for its speed. A transaction usually takes less than 8 minutes and they offer 9 different cryptocurrencies including bitcoin. You can easily buy and sell bitcoin here and get around the website quickly.
Instant Gold Nigeria
The exchange is working 11 years straight and it’s the first e-currency exchange that was opened in Nigeria. Today they are still working great and even opened a branch office in 2017. You can purchase bitcoins here as well as other 12 cryptocurrencies.
This is a relatively new crypto exchange but it is considered a very strong alternative to Paxful and LocalBitcoins. They way it works is by creating a platform for buyers and sellers and allowing them to trade bitcoins right there on the platform. They also offer wallet services and 24 hours customer support.
With Changelly you can buy bitcoin for other cryptocurrencies such as Dogecoin or Litecoin. They operate in many countries around the world but you will need another cryptocurrency to buy bitcoin. Exchanges happen in seconds and the fees are really reasonable.
Remitano offers an online space for buyer and sellers to transfer bitcoins between themselves. There’s no need for ID verification and you can use pesos. But, only small purchases are available and there’s a lot of scam potential because of KYC policies.
Luno is a great exchange platform that makes trading Bitcoin and Ethereum against fiat currencies possible. Luno allows bank transfers with very low fees of .25%. Also, what’s cool about it is that Luno has its own Android app which you can also find it on the Apple Store too so it’s easy to buy and trade for both iOS and Android users.
Paxful is a rather similar type of exchange such as LocalBitcoins. It works only with bitcoin and uses the same ad method as LocalBitcoins. The difference is that the sellers pay only a 1% fee. However, their customer support is really slow because of the high number of users.
It’s important to know that you can buy bitcoins via LocalBitcoins in person. It’s very popular in Nigeria as well. It’s private and very simple to use. Keep in mind that in-person trading can potentially be a scam and it’s also harder to buy larger amounts of bitcoins.
Mycelium Local Trader
Mycelium helps you to find all the local bitcoin sellers in your area. There are no fees involved but the one major downside is that users in low populated areas will have a hard time finding sellers since you meet up in person to conduct the trade. It’s easy to use and cheap to buy bitcoin with cash.
Bitcoin-OTC is a peer-to-peer exchange platform for Bitcoin. Users create ads in order to find sellers of bitcoin. It’s relatively hard to use but it is a good way to find bitcoin sellers. When using this platform, double check for scam ads and try to build trust with other users before trading large amounts.
You already know that this is the most popular and transparent exchange. It’s probably the easiest way to buy them and also very fast. You can use your credit or debit card to buy bitcoins and you will be charged 3.99% fees for your purchase. Though the fee is somewhat high, you will get your coins in a matter of seconds. If you purchase them via bank transfer, the fees a lower but you will wait more than 3 days to complete the transfer. It’s most recommended for newcomers and has a high liquidity.
VirWox is also a great way to purchase bitcoins. Also, one of the few exchanges that offer you to buy bitcoins using PayPal. However, this isn’t a regular exchange. It’s an exchange for Second Life Lindens. The fees are high and reach up to 10 percent.
Binance is one of the largest exchanges on the crypto market. The website is great and easy to use. There’s also a mobile app that supports your market orders. Fees are flat at 0.1% for trading but may go a little higher for high-volume traders.
CEX.IO started as a cloud mining provider in the crypto space. Later their operations expanded in the exchange sector and abandoned cloud operations completely. You can purchase bitcoin via their website, mobile app and WebSocket API. They offer a rate of 3.5% and don’t have pesos available but they do accept USD and EUR.
ICE³X is a highly secure exchange platform that will allow users to buy and sell Bitcoin. The great thing about it is that you can also buy and sell other cryptocurrencies such as Ethereum, Bitcoin cash, and Litecoin.
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Also, you can trade Ethereum for Bitcoin. This is a South African owned company and it’s one of the most popular there.
Coinbase PRO is one of the largest Bitcoin exchanges in the U.S but also very popular in Nigeria. Users can purchase bitcoin via bank transfer or bank wire. Coinbase PRO has decent prices and low fees but it can be a little difficult to use for beginners. You can buy bitcoins here for exactly 0 percent fees.
On Coinmama, customers can purchase bitcoin with a credit or debit card. They charge a 6 percent fee for each purchase. No identity verification is needed when you purchase less than $150 worth of bitcoins. Coinmama has the highest limit for buying bitcoins while using a credit card. Take into consideration that this is among the exchanges with the highest fees.
Poloniex offers a peer-to-peer lending feature that provides investors with an alternative to earn some extra money by lending money to other investors. The platform supports more than 60 altcoins.
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