This post comprehensively highlights the top e-currency exchanges in Nigeria.
Before the creation of bitcoin or cryptocurrencies, e-currencies (‘e’ for electronic) were the easiest way to carry out borderless transactions around the world.
Cryptocurrencies are actually e-currency but they differ from the earlier generation because they are decentralized and encrypted.
These are unlike the traditional digital currencies that are mostly domiciled in USD and EURO and are centralized.
Even though cryptocurrencies are hotcakes now and also give users total control, e- currencies are still in high demand.
The major e-currency providers include; Perfect Money PM, Neteller, Skrill, Paypal, WebMoney, Payeer, Payza, etc.
e-Currencies make it easy to receive and send money instantly worldwide.
Its users can also buy goods from online stores, invest in financial schemes, pay for services, or enroll in courses online.
Recently, you can even convert Perfect Money to Bitcoin.
These transactions can be done instantly and at a very low transaction fee when compared with doing a wire transfer or using Western Union which takes days and high charges.
However, the major challenge with digital currencies is funding your wallet and withdrawing. i.e integration with traditional banks.
One of the fastest ways to fund or withdraw from an e-currencies wallet to a bank account is through an e-currency exchange.
Today, I will be talking about the top 10 e-currency exchanges in Nigeria.
Through these exchanges, users can buy Perfect Money(PM), Neteller, WebMoney, etc. as well as sell them and have the money in their bank account.
Some also let you convert PM to Bitcoins.
Find the list below.
Top e-Currency Exchanges in Nigeria
The table below shows the e-currencies and their supported exchanges in Nigeria.
| S/N. | e-Currencies | Exchanges |
| 1. | Perfect Money | BestChange Sowget eTradeXchange ExchangeIndeed InstantGold Naira4Dollar InstantExchangers Nigeria Gold Exchange TopupGold iDeyPay Patricia Zcnox |
| 2. | PayPal | BestChange InstantGold Naira4Dollar InstantExchangers Nigeria Gold Exchange TopupGold Patricia |
| 3. | Neteller | BestChange Paybis TopupGold |
| 4. | AdvancedCash | BestChange Paybis TruexGold eTradeXchange InstantExchangers |
| 5. | WebMoney | BestChange InstantExchangers eTradeXchange |
| 6. | Skrill | Paybis BestChange InstantExchangers Nigeria Gold Exchange |
| 7. | Payeer | Paybis InstantGold InstantExchangers |
| 8. | Payoneer | TopupGold |
The list of exchanges is in no particular order of hierarchy. It includes:
1. Paybis
Paybis is an advanced digital currency exchange registered under the name PayBis LTD, 35/3 Buchanan Street, Edinburgh, EH6 8RB, UK.
You can see that Paybis is not indigenous to Nigeria. It is operated from the UK and the USA. It is a top Neteller exchanger.
Users of this platform can swap between the supported e-currencies and cryptocurrencies.
For example, a user can exchange his Neteller for BTC, Skrill, and vice versa. You can also buy Neteller with your Master/Visa card. But you will need to buy Bitcoin first and then convert to Neteller.
All transactions take a maximum of 10 mins. If you encounter an issue, chat the customer care via LiveChat available 24/7.
Available currencies: Payeer, Skrill, Advanced Cash, Neteller, BTC, ETH, LTC, XRP, BCH, NEO, BNB, XLM, TRX
2. BestChange
BestChange.com is a cryptocurrency online exchanger directory that is registered in Dubai, UAE.
It was founded in 2007 and serves millions of international users monthly to find the best exchange rate among 200+ vetted exchangers.
BestChange has an intuitive and user-friendly design: you simply need to select the required exchange direction on the panel on the left and pick an exchanger of your choice.
The exchangers are ranked by default with the best rates on top. Before making a selection, you can read reviews left by real customers.
BestChange supports a wide range of cryptocurrencies, e-currencies, and fiat.
Among others, BTC, ETH, XMR, LTC, USDT, PAX, USDC, PayPal, Skrill, Advanced Cash, cash, bank wire, and Visa/MasterCard are represented on the platform.
Moreover, on BestChange you can exchange Tether TRC20 for Wire Naira and to Visa/MasterCard NGN.
3. InstantGold
InstantGold was established in November 2007. It is one of the oldest e-currency exchanges in Nigeria.
By November 2020, InstantGold will be celebrating its 13 years of reputable service to Nigeria.
It has 2 offices in Nigeria; one in Lagos and the other in Port Harcourt.
My very first transaction with InstantGold was in May 2016 when I exchanged OKpay for NGN.
Instantgold no longer provides exchange services for OKpay. However, you can buy Web Money and other digital currencies on InstantGoldNg.
Supported Currencies: Perfect Money, Payeer, PayPal, and BTC.
Note: InstantGold only SELLS PayPal. This means that you can only BUY from the exchange; you cannot SELL.
4. Naira4Dollar
This exchange is operated by Sunej Global Ventures Limited which is an ICT company registered with CAC.
Naira4dollar has been in operation since 2006 making it the oldest e-currency exchange in Nigeria. My very first BTC purchase was from this company.
Unlike other exchanges as old as Naira4dollar, it has maintained a relatively low portfolio.
Though it only supports the exchange of a few e-currencies, they are quite good at their job.
Supported currencies: Bitcoin(BTC), Perfect Money(PM), and Paypal.
5. Sowget
Sowget (formerly MyTopExchange) was founded in 2012.
It is registered and located in Lagos State, Nigeria, and has an easy-to-use interface.
Sowget is a broker exchange and offers the following services – exchange, Forex account funding, and training.
It has active customer support that can be reached via email, calls, or WhatsApp.
Supported currencies: Perfect Money(PM), BTC, InstaForex, JustForex, Binary.com.
6. eTradeXchange
eTradeXchange is a broker exchange that has been around since 2007.
It is located in Lagos State, Nigeria, and has a great UIX.
On this exchange, you can only make deposits through online transfers and cash deposits.
All questions can be sent via the Live Chat on its home page. You can also reach the team via WhatsApp.
Supported currencies: Perfect Money, AdvCash, JustForex, Deriv, BTC, LTC
7. ExchangeIndeed
ExchangeIndeed is a broker exchange that has been in existence since 2009.
It is located in Lagos State, Nigeria, and allows its users to exchange.
Since its inception, ExchangeIndeed has funded and credited over one million Perfect Money accounts.
For any inquiry, you can contact the team via its Live Chat, WhatsApp, or the number listed on its site.
Supported coins: Perfect Money, Bitcoin
8. Instant Exchangers
InstantExchangers was founded by Olubowale Obayomi in 2010. It is located in Lagos State, Nigeria.
It provides its users with vast ways of making payments ranging from cash deposits to Western Union.
The exchange allows you to carry out up to 50$ worth of transactions without verification.
Its team can be reached through its Live Chat, the numbers listed on its home page, or by sending an email.
Supported coins: Perfect Money, PayPal, Webmoney, Payeer, AdvCash, Skrill, Skype Credits, BTC, ETH, BCH, LTC, XMR, XRP, DOGE, DASH, ZEC, ETC
9. Nigeria Gold Exchange (NGE)
NGE has been in existence since December 2009 and has reliably served thousands of clients worldwide to date.
It was founded in 2007 and has offices in Lagos and Oyo State, Nigeria.
Apart from e-currencies, the exchange has also been selling Virtual Visa Card (VCC) from the USA and Russian banks.
You can contact the team by calling the numbers listed on the site or by using the Live Chat feature.
Supported currencies: Perfect Money, WebMoney, PayPal, Skrill, Bitcoin
Note: NGE only SELLS PayPal and Skrill. This means that you can only BUY from the exchange; you cannot SELL.
10. TopUpGold
TopUpGold is an e-currency exchange that is owned and managed by DecaTech Services.
It is located in Calabar, Nigeria, and is duly registered with CAC with Reg No: BN2460907.
This exchange has been around since 2013 and also provides other services such as Pay4me, VCC, and VBA across the world.
Its team can be reached via Live Chat, WhatsApp, or through calls.
Supported currencies: Payoneer, Skrill, Perfect Money, Neteller, PayPal, BTC, ETH
Note that you cannot buy PayPal from TopupGold but you can sell to them. Again, you can only sell Payoneer, Neteller, and Ethereum to the exchange; you cannot buy.
11. Patricia
Patricia was founded in 2017 by Fejiro Hanu Agbojide.
The exchange has an office in Lagos, Nigeria but also has other branches in Ghana, the UK, and the USA.
It is a broker/P2P that provides the following services – buy/sell, wallet, and refill/top-up services.
In addition to the e-currencies supported, Patricia supports the sale of gift cards and has a debit card.
To reach the team for any inquiry, contact them via email or follow their social media(Facebook, Twitter, Instagram).
Supported coins: Perfect Money, PayPal, BTC,
12. iDeyPay
iDeyPay was launched in 2016 and is located in Lagos, Nigeria.
It is a broker/P2P exchange founded by Adeolu Alatishe.
Apart from allowing users to buy/sell e-currencies, it provides a Bitcoin wallet where users can store their coins.
Still have questions? You can reach the team via its active Live Chat, WhatsApp, or by calling the number listed on the site.
Supported currencies: Perfect Money, BTC, ETH
13. Zcnox
Zcnox Exchange is owned by Zcnox Digital Marketing Co. Ltd and is registered under the CAC (RC: 1421218 ).
It has a great user interface and is located in Abuja, Nigeria.
As of the time of this post(July 2020), the exchange charges 0.5% as exchange fees.
For answers to your inquiries, contact the Zcnox team by sending them a mail or by chatting them up on WhatsApp.
Supported currencies: Perfect Money, BTC, ETH
There you have the top exchanges to buy e-currencies in Nigeria.
But which one is the best?
Find out below.
My Verdict – Which of These is the Best e-Currency Exchange?
The answer to this is relative. I say so because it all depends on what you want.
One sure thing is that they are all legit and have not been proven otherwise.
Now that we have established that they are all legit, there are some things to consider:
i. Availability
Is the e-currency that I want to exchange available on the platform?
An exchange like Blockvila supports only PM. So if I want to buy WebMoney, I will not go to them.
ii. Exchange Rate
The next thing to consider is the exchange rate. Some exchange rates are just too high.
The last time I sold $500 Webmoney for Naira, one exchange charges $44 in transaction fee while the other charged $15. I had to go with the one that charged $15.
Visit the exchange sites that support the currency you want to exchange, and compare the prices before going ahead with the transaction.
Note: Exchange A’s fee may be higher than Exchange B’s price today but lower tomorrow. So always compare.
iii. Eligibility
Finally, chat up the exchange to make sure you are at peace with them especially if it’s your first time before you proceed with the transaction.
Conclusion
From the above point, you can see that the best exchange is relative to the individual and the coin you want to exchange.
You can create an account with all the exchanges that support your choice of e-currencies.
That way, it will be easy for you anytime you want to transact.
And if you enjoyed this post, give us a share using the share buttons below.
BestChange is a Russian site, its owner is from Russia, not from Dubai, UAE
Hello Magani,
Thank you for reading through.
We wrote that the exchange is REGISTERED(based) in Dubai.
This does not imply that the owner is from Dubai or keeps it from being a Russian site.
I paid for #208,000 to monex to fund my paypal, but they kept telling me stories on verification of my account on their platform. When I asked for refunds they keep posting me. Please help me get back my money ASAP. Thanks
Hello Itoro,
I am sorry about your experience with Monex. I have reached out to them concerning your case.
Yet to get feedback from them too.
To avoid a future occurrence of such, I have removed Monex from the list of exchanges listed in this post since their ways seem fishy.
Our brand will no longer want to associate with that type of platform.
Be sure to hear from me once I get a response from them.
Hello Admin and any other person who has good and reliable info;
Has truexgold exchanged resolved their issues, can I use them now
Hello Smartstone,
The last time I checked (April 2021), the exchange was functioning fine; no issues.
I just want to restate here that monex has Refunded my N25,000.
Yes my dear. I got my refund yesterday.. Thanks to Jude who helped out too.
My brother, I am experiencing this kind of thing with monex.ng. I don’t know why they are delaying to fund my neteller or refund my N25,000.. I made the transaction since 27th July 2021. Their phone is switched off, they don’t reply my WhatsApp chat, they don;t respond to mails. I just tire for this online stuff.
I don’t know what to say about monex.ng. I made payment of N25,000 for NETELLER exchange of about $51 on 27th July 2021. Till now my NETELLER has not been funded, they don’t reply to my mails and twhatsapp chat. Even the phone number that promised me refund is switched off. Is this some kind of scam or what because I got to know about them on this website
Hello Sylvester,
This has been sorted out now.
Hello Jude please based on recommendation from this post, I tried purchasing Skrill dollars worth 245k from monex.ng. And for over 48hrs Iam yet to get credited. I Contacted them via WhatsApp for a refund and its over 48hrs and refund is yet to be made. I am been told stories upon stories.
Please send an email to me with the screenshot of your transaction let me also contact them as well.
jude@nigeriabitcoincommunity.com
Best regards
Hello Kola,
Sorry to hear about that.
If the issue is still unsolved, kindly reach out to them with the Transaction Ref. ID to help sort it out.
Thank you.
We should thank you sir for your efforts. Kudos!
@Sule Saidu and @Andy Bastiat. I am Engr. Ikenna CEO TruexGOLD Nigeria. My attention has been drawn to this post as regards to your claims by a staff after OP contacted her via our live chat service, since we can’t solve any issues here, i will advice you forward your complaints to my personal email address ceo@truexgold.com stating the Order no and any evidence of payment. I hope to resolve this issue for you as soon as you do as directed, thank you OP for a job well done . . . nice write up.
Thank you for your comment Ikenna
Tell me your order was delayed by truexgold, i will agree but scamming you of $15 is what i won’t agree with you.
Come on we are talking of an exchanger with daily average reserve of $320000+ and the only automated exchange in nigeria currently. Like seriously what are they going to do with the $15??? Bro i suggest you contact them to know what the issue is so they can solve it. If admin doesn’t give you a listening ear, report to their Oga on facebook, who dosen’t know Mr. Ikenna of TruexGold on fb. I use them alot to fund and withdraw from my binary account, they are reputable, not one issue for more than five years now that i have been using them.
I use them because they were listed here as trusted look how that turned out. The admin should better create a post yaggtag them and warning people about them because if you have not named them trusted none of us will use them it’s all your fault
Hello Sule Saidu.
I have used Truexgold in the past with no issues that is why I listed them.
However, you are the second person complaining about their service. I email them to leave a comment but got no response.
I later chatted them up and got this response
I might have to remove them from this list if I don’t receive any other comment attesting to their trustworthiness.
You had better remove those scammers Truexgold from your list . The scammed me $17 for the past two days not a word from their support
I got scammed from truexgold.com they send me the first money to buy my trust then on the real money transaction the scam me stay away