Getting access to Bitcoins in Nigeria use to be very difficult in the past.
But that has changed, since many fintech companies in Nigeria have started looking into the cryptocurrency market, to adopt new way of going into financial investment.
However, the prices of Bitcoin varies according to different crypto exchanges in Nigeria. So it’s always advisable not to use only one platform to purchase BTC.
Meanwhile, I know pretty well that you may not know the best and reliable exchange site you should be using, each time you want to buy Bitcoin.
In this article, am going to list out all the best exchange sites you can use to buy and sell Bitcoin with Naira currency in Nigeria.
Let’s dive straight in…
Best Bitcoin exchange sites in Nigeria
Below are the most reliable Bitcoin cryptocurrency exchange platform you should be using to buy or sell any amount of BTC coins you wish any time.
1. Binance crypto exchange (Recommended)
Binance is the largest and fastest-growing Bitcoin exchange, which has created the largest ecosystem around crypto-based financial services.
On this platform, you can buy BTC using debit/credit card, and then trade it for other coins. The platform also offers a fully functional mobile app, and by far this is the most used Bitcoin exchange in the world.
If you are looking for a single recommendation, Binance is the idlest for you. You can read my detailed review on Binance exchange.
Binance being a centralized crypto exchange has taken a unique step to expand its business, and also provides a decent discount for investors who transact on daily basis.
Binance’s fee structure is also unique.
To start with they have a 0.1% standard transaction fee, which is already quite less than other peers. Binance offers a native coin called BNB, which is probably the coin you could HODL for a long period.
If you hold the BNB token, you can get 25% rebate on your transaction fees. Read this guide on how to reduce Binance fees.
2. LocalBitcoins marketplace
LocalBitcoins is a peer-to-peer Bitcoin exchange start-up company based in Helsinki, Finland. This is a marketplace where users can buy and sell Bitcoins to each other.
Users popularly known on the platform as vendors, can create advertisements with the price and the payment method they want to offer.
There are hundreds of Nigerians on the platform buying and selling Bitcoin. You can browse their website for trade advertisements in your location.
I will suggest you try and read my comprehensive review on LocalBitcoins marketplace.
The platform uses an escrow method of payment to ensure that no both the buyer or the seller does not get scammed in the process of the transaction.
If you are willing to use this platform, it is highly recommended that you look out for reviews of any vendor you choose, before doing Bitcoin transaction.
3. Luno Bitcoin exchange
Luno (formerly BitX) is a company headquartered in London with operations in Nigeria, Indonesia, Malaysia, South Africa, Singapore, the United Kingdom, and 35 other European countries.
Luno facilitates Bitcoin storage and transactions such as buying, selling and paying through their Bitcoin wallet services. They also operate exchanges between fiat money and bitcoin.
Since November 2017, Luno also started supporting Ethereum cryptocurrency, which is the second most widely used cryptocurrency after Bitcoin.
Nigerian with Luno account can buy and pay for Bitcoin in Naira as the platform supports payment methods such as card deposits, bank deposits, Paystack, and GT Bank transfer.
4. NairaEx Bitcoin broker
Read my brief review on NairaEx Bitcoin and Ethereum brokerage company.
NairaEx one of the brokers with largest asset liquidity in the country, and is therefore not an intermediary. Customers send and receive funding directly from the company, avoiding any risk of being scammed.
Before you can buy or sell your Bitcoins on NairaEx, you will need to get your own trusted Bitcoin and cryptocurrency wallet.
5. Quidax crypto exchange
Quidax makes it safe and easy to buy and sell Bitcoin, Ethereum, Ripple, Litecoin and some other cryptocurrencies using your local currency.
Quidax is one of Nigeria’s newest cryptocurrency exchange providers.
It boasts of been the simplest and most secure way to buy and sell Bitcoin, Ethereum, Ripple, and Altcoins in Nigeria.
Finally, these websites listed above are the popular exchange websites in Nigeria, that you can use to buy and sell Bitcoin crypto-coins.
I have personally used each of them to purchase BTC online without any stress on the method of payment and even overall security.
Before you buy Bitcoin, you need to get a secure wallet by purchasing any trusted hardware wallets (like; Ledger Nano, Trezor wallet etc.), or download free Trust mobile wallet app for Android and iOS.