This post is a compendium of the 10 best exchanges to buy and sell cryptocurrencies in Nigeria.

Following the invention of Bitcoin in 2009, cryptocurrencies have become the most profitable investment anyone can venture into.

To date, it has done well over 1000% consecutively each year. This is to be modest as some cryptos have recorded more than that in a single year.

This is way beyond the return on investment(ROI) from any other type of investment.

But yet… It becomes a huge obstacle for crypto lovers to find credible exchanges where to buy and sell these coins(especially if you are in Nigeria).

And that, dear reader, is the main reason for this post!  After months and years of thorough research and testing, I present you with the 10 best exchanges to buy and sell cryptocurrencies in Nigeria.

So sit back, relax, and enjoy this interesting piece.

Post Overview

To  make sure that you fully comprehend and follow through with today’s post, these subheadings contain the points I will be discussing:

• Overview  of Exchanges
• 10 Best Exchanges to Buy  and Sell Cryptocurrencies in Nigeria
• Which is the Best?
• Conclusion

Tap on any of the subheadings to access the details directly.

Enjoy the post!

Overview of Exchanges

With the emergence of Bitcoin and other altcoins comes the need for people to change the coins they have for other currencies or coins.

And this brought about the emergence of ‘Exchanges’.

Exchanges are companies that allow users to interchange cryptocurrency for fiat money or other currencies.

Some of these exchanges are strictly Peer-to-Peer (Remitano, Coindirect,e.t.c.), others serve as Trading Platforms(Quidax, Luno, e.t.c.), and the rest are Brokers(NairaEx,e.t.c) while some of them combine 2 or all of these services(Binance, Bybit,e.t.c.).

To use these exchanges, you have to register with them and fund your wallet using any of its supported payment methods.

Now, with so many scam sites available online, I have listed the 10 best exchanges to buy and sell cryptocurrencies below.

Just scroll down to view the list.

Read also: 10 Best Exchanges to Buy Bitcoin in Nigeria(2019)

10  Best Exchanges to Buy and Sell Cryptocurrencies in Nigeria

The list(which is in no particular order) includes the following exchanges:

1. Bybit
2. Binance
3. OKX
4. Remitano
5. Gate.io
6. Paxful
7. Kucoin
8. Quidax
9. Yellow Card
10. Luno

Find the details below!

1. Bybit

Founded in 2018, Bybit is one of the leading exchanges.

It is popular, particularly among derivatives traders.

At the time of writing, it is ranked No. 2 among the top derivative exchanges by Coinmarketcap.

The platform has a user base of more than 10 million and is accessible in 160+ countries.

When you sign up with Bybit, complete the verification process, and deposit just $100, you’ll unlock access to our Afibie Masterclass.

In this class, you’ll learn the art of trading and receive real-time profitable trading signals. Visit Afibie.

Services:

• Buy Crypto
• P2P trading
• Spot trading
• Leveraged tokens
• Copy trading, etc.

Payment Methods

• Bank Transfer
• Credit/Debit card
• All supported cryptos

Cryptocurrencies Supported

• Supports over 100 cryptocurrencies. See all the supported cryptos here.

Transaction Charges

Trading fee – 0.1%.

Read the Bybit Review to learn more about this exchange.

Visit Site

2. Binance

Transaction Charges

Binance, which was launched in 2017, is a trading platform for over 500 cryptocurrency pairs.

It was founded in China by a developer, Changpeng Zhao and now offers a lot of other services besides crypto trading.

The exchange can be accessed by users all around the world except for 13 States of the USA.

It also has Binance.US to serve US citizens, but users from 13 states are still restricted from using Binance.US.”

Services

• Exchanges
• Margin Trading
• Markets
• Trust Wallet
• Buy Crypto

Payment Methods

• Bank Transfer
• Credit/Debit card
• All supported cryptos

Cryptocurrencies Supported

• Supports over 100 cryptocurrencies including the top 100 cryptocurrencies on coinmarketcap.com

Transaction Charges

• Trading fees – 0.1%

Find out more information about the fees here.

Read the Amazing Binance Review to learn more about this exchange.

Visit Site

3. OKX

OKX is one of the top exchanges in the world by trading volume.

It was established in 2017 by its founder, Star Xu, and had its headquarters initially based in Seychelles and later in Malta.

OKX offers a variety of trading options, including spot and futures trading for both beginners and experienced traders.

Services

• Defi
• NFTs
• Buy Crypto
• Earn
• Trading

Payment Methods

• Bank Transfer
• Credit/Debit card
• All supported cryptos

Cryptocurrencies Supported

• Supports over 100 cryptocurrencies. See all the supported cryptos here.

Transaction Charges

Trading fee – 0.08% (maker), 0.1% (taker). View all.

Read the full OKX Review to learn more about this exchange.

Visit Site

4. Remitano

Owned by Babylon Solutions Limited, Remitano was launched in April 2016 and supports more than 50 countries.

It started off as a P2P Bitcoin exchange but has expanded over the years to include more services and currencies.

Services

• P2P Exchange
• Remitano Invest
• Remitano Swap
• Wallets
• Affiliate Program

Available Payment Methods and Fiat Currencies

• This depends on the country of the user. For example, a user from Nigeria will use NGN and one from Europe will use EUR

Cryptocurrencies Traded

Currencies supported at the P2P and Wallet

• Bitcoin (BTC)
• Ethereum (ETH)
• Litecoin (LTC)
• Bitcoin Cash (BCH)
• Ripple (XRP)
• Tether (USDT)

Currencies supported at Investment

• EOS (EOS)
• Binance Coin (BNB)
• Cardano (ADA)
• Stellar (XLM)
• Tron (TRX)
• Tezos (XTZ)
• ChainLink (LINK)
• Monero (XMR)
• Ethereum Classic (ETC)
• Neo (NEO)

Transaction Charges

Note that the Maker would likely include this fee in his rate.

Investment fees

• When you close an investment in profit – 1%
• When you close at a loss – 0%

Read more: Remitano Review (2020 Update) – The Complete Review and Comparison

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5. Gate.io

Gate.io originally operated as a Chinese cryptocurrency exchange but later relocated to George Town.

Since its establishment in 2013, it has grown to be a prominent player in the industry.

It offers a wide range of coins and tokens, with approximately 1600 cryptocurrencies and over 2500 trading pairs, catering to altcoin enthusiasts.

Gate.io boasts over 13 million users and receives over 2 million weekly global visits.

Services

• Buy Crypto
• Spot
• Trading Bots
• Leveraged tokens
• Futures, etc

Supported Payment Methods

• Bank Transfer
• Credit/Debit card
• All supported cryptos

Cryptocurrencies Supported

• Supports over 100 cryptocurrencies. See all the supported cryptos here.

Transaction Charges

Trading fee – 0.2%. View more.

Read the full Gate.io Review to learn more about this exchange.

Visit Site

6. Paxful

Paxful was founded in 2015 by Ray Youssef and Artur Schaback.

It is a P2P exchange that is headquartered in the USA.

The exchange serves users from around the globe except for these countries.

Services

• P2P Exchange
• Wallet
• Kiosk Service
• Vendor Service
• Affiliate Program

Payment Methods

• 9 Bank Transfer options (SWIFT, SEPA, etc.)
• 114 Gift Cards (Amazon, iTunes, etc.)
• 128 Online Wallets (Skrill, PayPal,e.t.c.)
• 55 Cash options (Bank deposits, Cash in Person, etc.)
• 26 Digital currencies (ETH, LTC, etc.)
• 20 Credit/Debit Cards (Visa/ Master cards, etc.)

Supported Fiat Currencies

• Any fiat currency

Supported Cryptocurrency

• Bitcoin

Transaction Charges

(Charged sellers alone)

• Bank Transfers: 0.1%
• Credit/Debit Cards: 1%
• Digital Currencies: 1%
• Online Transfers: 1%
• Cash Deposits: 1%
• Gift Cards: 5% iTunes and Google Play. 2% for every other gift card

Further reading: Paxful Review (2022 Update)| The Complete Review and Comparison

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7. Kucoin

Kucoin is a notable exchange. Founded in 2017, it has exceeded 20 million users.

It calls itself the “people’s exchange” and has a strong track record with a 24-hour trading volume of 1.2 trillion, highlighting its crypto market prowess.

Kucoin allows you to trade 856 different coins, so you can find most coins you want to trade.

Services

• Buy Crypto
• Shark Fin
• Web3
• Trade
• Earn

Supported Payment Methods

• Bank Transfer
• Credit/Debit card
• All supported cryptos

Supported Cryptocurrencies

• Supports over 800 cryptocurrencies, including BTC, ETH, ARB, PEPE, etc

Transaction Charges

Trading fee – 0.1% (View all)

Read the full Kucoin Review to learn more about this exchange.

Visit Site

8. Quidax

Founded in August 2018, Quidax is now ranked among the top exchanges in Nigeria.

It supports users worldwide and processes its over-the-counter (OTC) transactions using Flutterwave.

Services

• Quidax Trading Platform
• Instant Buy and Sell
• Wallet Services

Supported Payment Methods

• Credit/Debit cards
• Bank transfer
• USSD deposits

Supported Fiat Currency: Nigerian Naira(NGN)

Cryptocurrencies Traded

• Bitcoin (BTC)
• Ethereum (ETH)
• BitcoinCash (BCH)
• Ripple (XRP)
• Litecoin (LTC)
• Dash (DASH)
• Tether (USDT)

Available Trading Pairs

• BTC/NGN
• ETH/NGN
• XRP/NGN
• ETH/BTC
• XRP/BTC
• LTC/BTC

Transaction Charges: This can be viewed here

Read the full review of Quidax here including a video on how to use the platform.

Visit Site

9. Yellow Card

Yellow card is a relatively new platform. It was sponsored by Binance to increase the adoption of Bitcoins and other cryptocurrencies in Africa.

Yellow card lets you;

• Buy bitcoins at a very good rate with naira using bank transfer
• Accept bitcoins for your goods and services and have the equivalent sent directly to your bank account
• Become a bitcoin vendor i.e. easily buy and sell bitcoins to your customers at a physical location using the Yellow Card app.

With these unique features, Yellow Card has seen increased adoption in Nigeria.

Services

• BTC Wallet
• Buy/Sell Bitcoin
• Bitcoin Merchant

Payment Methods

• Cash
• Bank/ Instant Bank Transfer
• Debit/Credit Card

Supported Fiat Currencies

• Nigerian Naira (NGN)
• South African Rand (ZAR)
• Botswanan Pula (BWP)
• United States Dollars (USD)

Supported Cryptocurrency

• Bitcoin (BTC)

Transaction Charges

Deposit fees

Withdrawal fees

Merchant fees

The merchant fees for both topping up your Yellow Credit account or selling to a merchant are the same.

Check it out in the table below.

Visit Site

10. Luno

Luno was founded in Singapore in 2013 and later expanded to other countries.

Formerly branded Bitx, it changed to its current brand, ‘ Luno’ in January 2017.

It provides services for users in 44 countries including Nigeria, South Africa, Europe, etc.

Services

• Luno Trading Platform
• Instant Buy and Sell
• Wallet Services

Available Payment Methods

• For Nigerians: Naira debit card, bank transfer
• Other users: Dependent on your country

Available Fiat Currencies

• Nigeria Naira (NGN)
• South African Rand (ZAR)
• Euro (EUR)
• Indonesia Rupiah (IDR)
• Malaysian Ringgit (MYR)
• Zambian Kwacha (ZMW)

Cryptocurrencies Traded

• Bitcoin (BTC)
• Ethereum (ETH)
• BitcoinCash (BCH)
• Ripple (XRP)
• Litecoin (LTC)

Trading Pairs Supported: There are  3 crypto pairs available for trading: BTC/ETH, BTC/BCH, and the third depends on the user’s country.

For example, a user from Nigeria will have the following trading pairs:

• BTC/ETH
• BTC/BCH
• BTC/NGN

Transaction Charges: View information on its fees here.

Read more: Luno Review (2022 Update) | The Complete Review and Comparison

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Which is the Best?

Having listed the 10 top exchanges to buy and sell cryptocurrencies in Nigeria, you may be wondering which of them is the best.

As we must have learnt, these exchanges have their specialities and peculiarities.

Well…The choice is yours to make!

The best exchange for you at any moment should be determined by the type of transaction you want to carry out at that point.

For example: To buy Bitcoin with gift cards, I check for a better price on CoinCola and Paxful when I choose to use a credit/debit card, I go to Coindirect or Changelly, but I carry out most of my trades on Quidax and Luno.

But do note that this is not financial advice and is not an endorsement of any of the listed services.

Do tread with caution when carrying out any transaction.

Conclusion

Now we’ve come to the last part of this post; the part where we get to cool off…

And we also get to talk to each other… And ask questions.

So far through the post, is there something still unclear?

Do you know of any exchange that should make this list?

Or you’ve had an experience with any of the aforementioned exchanges that you would love to share?

Just scroll at once to the comment section and let it all out.

And that quote that ‘good food tastes sweeter when shared with friends‘ is still very much true.

Share this ‘good food’ you have just tasted with friends using the social media buttons below.

Also Read:

• How to buy Bitcoins with a credit/debit card
• How to buy Bitcoins with Paypal
• How to buy bitcoins with gift cards 
• 5 Best Peer-to-Peer Exchanges