What is the best Crypto exchange & trading platform in Nigeria?

After Binance exiting the cryptocurrency exchange and trading business in Nigeria, there has been worry that the same might happen to other trading platforms. However, without any signs, we cannot guarantee that. For those that have been using Binance to trade currencies online in Nigeria, it’s not the end of the game. We have gathered some of the best crypto currency exchange and trading platforms, sites, and markets in Nigeria you may want to consider for your next adventure in 2024.

• How to trade Crypto currencies legally in Nigeria
• Is Binance Cryptocurrency exchange banned in Nigeria
• How to verify Bitcoin on Cash app online

However, note that each platform has its strengths and weaknesses and may cater to different types of users. Therefore, it’s important to evaluate your own needs and preferences before making a decision to commit with a given crypto currency exchange and trading market, site, or platform in Nigeria.

10 Best Crypto exchange & trading platform in Nigeria (2024)

Here are some of the commendable and best Crypto currency exchange & trading markets, sites, or platforms in Nigeria you may want to consider to mine online currencies:

1. Luno

After the exit of Binance from the Nigerian market, Luno steps in as one of the best Crypto currency exchange and trading sites and markets in Nigeria. This Cryptocurrency exchange platform has a user-friendly interface, suitable for beginners. With its strong security and regulatory compliance, you rest assured you will buy and sell cryptocurrencies legally. Additionally, Luno supports popular cryptocurrencies like Bitcoin and Ethereum and makes it possible to trade through their mobile app.

However, the downside of Luno is that it has limited selection of crypto currencies compared to other sites in Nigeria. So, select it knowing its weakness.

2. Quidax

In the second place on our list of the best Crypto exchange and trading platforms in Nigeria is Quidax. This is a localized site catering specifically to Nigerian users and also supports multiple cryptocurrencies. Quidax offers easy deposit and withdrawal options with Nigerian Naira (NGN) at competitive trading fees.

However, you should note that Quidax is only available for Nigerian users, making it less popular globally, hence, fewer advanced trading features. Apart from that, it’s a great Crypto exchange & trading market or site for Nigerian users.

3. Bitget

After the exit of Binance crptocurrency exchange market in Nigeria, Bitget has come closer to securing more users. Many Nigerians have transitioned to Bitget ever since Binace shutdown its local currency exchange services in Nigeria. Bitget has a seamless peer-to-peer (P2P) trading and offers low fees, high liquidity, and top-notch security measures, making it one of the most reliable sites for trading cryptocurrencies in Nigeria.

4. Bybit

Bybit is a prominent cryptocurrency derivatives exchange that offers various trading services, including spot trading, perpetual contracts, and futures trading. While Bybit is a global platform, it has also gained traction among Nigerian users due to its advanced features and competitive offerings.

Bybit emphasizes security, employing measures such as cold storage for funds, two-factor authentication (2FA), and a robust risk management system to protect user assets.

5. Yellow Card

Yellow Card is a simple and straightforward platform that supports Bitcoin and other major cryptocurrencies and trading in Nigeria. The platform offers various payment methods, including bank transfers and mobile money. Additionally, you don’t need to worry about security risks because Yellow Card has a strong focus on security and compliance. The only downside we found with Yellow card is it limited range of supported cryptocurrencies.

6. Busha

Busha is one of the best Crypto exchange and trading markets in Nigeria that offers you several flexible options to buy and sell your crypto. It is also one of the most convenient platforms for trading your Bitcoin and other crypto assets due to its user-friendly interface and the support for multiple cryptocurrencies. The only problem with Busha is that it got fewer advanced trading features compared to some larger exchanges in Nigeria.

7. Paxful

Of course, we can’t go without mentioning about Paxful on our list of the best Crypto exchange and trading markets in Nigeria. Paxful is a peer-to-peer marketplace allowing users to buy and sell Bitcoin directly with each other. This platform offers a wide range of payment options, including bank transfers, gift cards, and mobile money. However, their exchange fees can vary depending on the payment method and also they are limited to Bitcoin trading.

8. Coinbase

Coinbase is a well-known cryptocurrency exchange based in the United States, but also operates globally in countries such as Nigeria. This Cryptocurrency exchange and trading platform is renowned for its user-friendliness, regulatory compliance, and extensive range of services. Coinbase operates under strict regulatory guidelines in the U.S. and other jurisdictions, providing a high level of trust and security.

9. Remitano

Remitano is a peer-to-peer (P2P) cryptocurrency exchange that operates in several countries, including Nigeria. It allows users to buy, sell, and trade cryptocurrencies directly with one another, offering a platform that facilitates these transactions securely and efficiently.

The advantage with Remitano is that it supports several major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Litecoin (LTC), Ripple (XRP), and Bitcoin Cash (BCH).

10. Kraken

Lastly, on our list of the best Crypto exchange and trading markets in Nigeria is Kraken. This is a globally recognized cryptocurrency exchange known for its robust security, extensive range of supported cryptocurrencies, and advanced trading features.

Nigerian users can access Kraken via its website and mobile app, enabling them to trade and manage their cryptocurrency portfolios conveniently.

How to choose the Best Crypto exchange & trading platform in Nigeria:

Before deciding on committing to a given crypto exchange and trading market platform in Nigeria, here are some of the factors you may want to consider:

• Security: Look for platforms with strong security measures, such as two-factor authentication (2FA) and cold storage of funds.
• Fees: Compare trading fees, deposit and withdrawal fees, and any other charges.
• Supported Cryptocurrencies: Ensure the platform supports the cryptocurrencies you are interested in trading.
• Ease of Use: Consider the user interface and ease of navigation, especially if you are a beginner.
• Customer Support: Check if the platform offers reliable customer support to assist with any issues.
• Regulatory Compliance: Choose platforms that comply with local regulations to ensure the safety and legality of your transactions.

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