Since the invention of Bitcoins, Cryptocurrencies have become the most profitable investment anyone can venture into. From 2009 up until today, it has done over 1000% consecutively each year. This is just to be modest because we have recorded up to 39,000% on some crypto coins in a year. This is far beyond the ROI from any other type of investment imaginable. The greatest obstacle people face in investing in cryptocurrencies is the access to and availability of exchanges to Buy and Sell these currencies.
This is where I have got you covered, especially if you are in Nigeria. After careful research and months/years of testing out, here are the best 10 exchanges to Buy and Sell cryptocurrencies in Nigeria. I have personally used all these exchanges apart from one.
Best 10 Exchanges to Purchase and Sell Cryptocurrencies in Nigeria
This is the top cryptocurrency exchange in Nigeria located in Port-Harcourt Nigeria. You can buy and sell more cryptocurrency from Ngexchanger than any other indigenous exchange in Nigeria. One of the things I like about this platform is their user-interface; it is so easy to navigate. I have executed orders severally on this exchange so I can attest to their efficiency and speed of delivery. The customer care is available 24/7 via WhatsApp, Phone Call and online chat. When I spoke with the CEO of this company, she told me they Sell and Buy all Cryptocurrencies however not all are listed on their site. Customers can contact them to buy those that are not listed. They also have a telegram group where Crypto-Trading Signals are given for free. The link to this group is usually given to customers after their first transcation.
Method of Funding: Debit/Credit Card (USD or Naira), Bank Transfer, Cash in person.
Supported Currencies: Ethereum(ETH), Bitcoin(BTC), Ethereum Classic (ETC), Neo (NEO), Dash (DASH), Litecoin (LTC), Ripple (XRP), Perfect Money (USD), WebMoney (USD), Bytecoin (BCN).
Naira2USD is a Nigerian Cryptocurrency exchange located in Onitsha. Back in 2017 they only supported an exchange of Bitcoin however they upgraded their site in 2018 to include more cryptos and offer better service. I have sold Neteller to this exchange, and the transaction was virtually instant. Their customer care service is available on WhatsApp, Phone Call and online chat.
Method of Funding: Bank Transfer, Bank Deposit, Cash in Person
Supported Currencies: Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Ripple (XRP), Neo (NEO), Neteller (NT), Skrill (SK), Payza (PZ), Paypal (USD), Perfect Money (USD)
Instant Gold Nigeria
When it comes to e-currency in Nigeria, InstantGoldng can be said to be the grandfather of them all. They have been providing exchange services for digital currencies like PayPal and Perfect Money for over 10 years; this is before cryptocurrencies where invented. My first transaction with them was in 2013 for OKpay when I had no knowledge of cryptocurrencies. When I learnt about cryptocurrencies in early 2016, they where the company I bought my first bitcoin from. They currently have offices in Lagos and Port Harcourt and can be contacted through WhatsApp, BBM, Phone Call or at their offices.
Method of Funding: Bank Transfer, Bank Deposit, Cash at the Office.
Supported Currencies: Bitcoin (BTC), Ethereum (ETH), BitcoinCash (BCH), Litecoin (LTC), albcoin, Perfect Money, WebMoney, Payza, Neteller, Payeer, Solidtrust, Paypal, AdvCash
“Bitcoin” experienced a boom in Nigeria in 2016, the demand was so high that most Nigerian exchanges were out of bitcoin. Nairaex was one the companies that met this demand for Bitcoin and thus have retained loyal customers. Although Nairaex started with Bitcoins exchange service only, they have since included the exchange of more cryptocurrencies. You can contact this company over WhatsApp, online chat, phone call or at their office in Ogun state.
Method of Funding: Bank Transfer, Bank Deposit, Cash
Supported Currency: Bitcoin, Ethereum, Litecoin, Perfect Money, Bitcoin Cash
This is a South African based cryptocurrency exchange, their services right now are for 5 countries – Australia, Kenya, Nigeria, South Africa and the United Kingdom – They currently provide an exchange for 33 cryptocurrencies. I have not traded with this company before but once I do I will let you know.
Method of Funding: Bank Transfer, Mobile Transfer, Paypal.
Supported Currencies: Bitcoin, Ethereum, Ripple, Bitcoin Cash, Cardano, Litecoin, Lumen, Neo, EOS, IOTA, NEM, Dash, Monero, Lisk, Tronix, Ethereum Classic, Qtum, USDT, Vechain, ZCash, OmiseGO, STEEM, Verge, Siacoin, Stratis, Waltonchain, Dogecoin, Ark, Digibyte, Golem, Salt, NXT, ReddCoin.
This is an exchange company that has made cryptocurrency exchange easy for anyone around the world. They offer an exchange of 21 cryptocurrencies at the lowest fees. When I bought Dash (DASH) on this platform, it took about 5 mins for my transaction to be completed. You can buy cryptocurrencies with your Visa/MasterCard or exchange it for other cryptos. When you open an order, your coin will be sent to you once your payment is received will be credited once your transaction is confirmed.
Method of Funding: Visa/MasterCard, other cryptocurrencies.
Supported Currencies: Bitcoin (BTC), Ethereum (ETH), Monero (XMR), Zcash (ZEC), Ripple (XRP), Litecoin (LTC), Dogecoin (DOGE), Bitcoin Cash (BCH), Bytecoin (BCN), Bitcoin Gold (BTG), GameCredits (GAME), Lisk (LSK), NAV Coin (NAV), Gulden (NLG), Nxt (NXT), PotCoin (POT), Stellar-XLM (STR), Stratis (STRAT), Syscoin (SYS), Waves (WAVES), Verge (XVG).
This is one company I like to buy bitcoin from, this is because most times I could buy bitcoin in Remitano at a cheaper price when compared to Luno. Like Luno they provide you with wallets for your cryptos. I have compared these two exchanges in the past and you can read it by clicking here. Remitano is very similar to LocalBitcoins only that they offer more cryptocurrencies than LocalBitcoins. This platform works by using an escrow system to connect buyers and sellers of cryptocurrency. I have written a review of this exchange with a video, I suggest you read the review before you use it. It will help you to trade efficiently and safely on Remitano. Their service is currently available to 52 countries.
Method of Funding: Bank/Wire Transfer, Cash in Person.
Supported Currencies: Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Tether (USDT).
Luno (formerly Bitx) is an exchange company that is similar to Coinbase. They currently offer their services to 43 countries. Luno not only provide users with an exchange platform for cryptocurrencies, they also provide wallets for them. You can link your bank account with Luno to have an instant and seamless transactions. You can buy bitcoin in Luno with as little as 300 Naira and also engage in trading currency pair.
Methods of Funding: It depends on the individual country. The only deposit method available for Nigerians is Visa/MasterCard deposit others include; SEPA Transfer, Interbank GIRO/IBFT, EFT, Bank Transfer, ATM Transfer, Doku Wallet, Cash deposit.
Note you can deposit Bitcoin or Ethereum into Luno and withdraw it in your local currency (e.g. Naira)
Supported Currencies: Bitcoin (BTC), Ethereum (ETH)
This is a European based cryptocurrency exchange, even though it is in Europe anyone from around the world can use it. CEX have seen said to be the go-to crypto-exchange. Apart from buying or selling cryptocurrencies on this platform, you can trade 9 categories of currencies pair and made a huge profit if you are good at it.
Methods of Funding: Visa/MasterCard. Bank Transfer, Crypto Capital
Support Currencies: Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Bitcoin Gold (BTG), Dash (DASH), Ripple (XPR), Monero (XLM), Zcash (ZEC), Giga Hash (GHS).
Binance is one of the world leading cryptocurrency trading platform. It provides an exchange of over 126 cryptocurrencies. I personally trade on Binance, most coins I need to acquire that I don’t find on other exchanges are present in Binance. This Platform is very similar to CEX and Bittrex but unlike Bittrex it does not charge $25 for each withdrawal.
Method of funding: Binance does not accept funding in fiat but you can fund with all accepted cryptocurrencies
Supported Currencies: ADA,ADX, AE, AION, AMB, APPC, ARK, ARN, AST, BAT, BCC, BCD, BCPT, BLZ, BNB, BNT, BQX, BRD, BTC, BTG, BTS, CDT, CHAT, CMT, CND, CTR, DASH, DGD, DLT, DNT, EDO, ELF, ENG, ENJ, EOS, ETC, ETH, EVX, FUEL, FUN, GAS, GTO, GVT, GXS, HSR, ICN, ICX, INS, IOST, IOTA, KMD, KNC, LEND, LINK, LRC, LSK, LTC, LUN, MANA, MCO, MDA, MOD, MTH, MTL, NANO, NAV, NEBL, NEO, NULS, OAXm, OMG, OST, PIVX, POE, POWR, PPT, QSP, QTUM, RCN, RDN, REQ, RLC, SALT, SNGLS, SNM, SNT, STEEM, STORJ, STRAT, SUB, TNB, TNT, TRIG, TRX, VEN, VIA, VIB, VIBE, WABI, WAVES, WINGS, WTC, XLM, XMR, XRP, XVG, XZC, YOYO, ZEC, ZRX.
Here you have it these are the top 10 cryptocurrency exchange in Nigeria from my own assessment. You can use any of them as it applies to you. There are other great cryptocurrency exchanges like Litebit (Offers exchange of 52 cryptos) and Bitpanda that I did not include because they are only available to European countries. There are other here in Nigeria that I did not also include because I have not used them or because they are not trustworthy.
If there is any other cryptocurrency exchange here in Nigeria that you feel should be amongst the top 10, let me know in the comment section.
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WARNING: The fact that coin gained immense value the previous year is not a guarantee that the same will happen the following year. Cryptocurrencies are still unregulated. Some are just pure scam e.g TBC, they enter the market through a process called “pump and dump”. So before you invest in cryptocurrencies make your own research; what is the purpose of the coin, how does in work, does it have a development team? who are the people behind it? what is the community opinion about it on Bitcointalk.org? If you get positive research from these findings for an Altcoin, you are likely to make a good investment. All the Best.