Top 11 Bitcoin Exchange in Nigeria
Bitcoin was invented on Oct. 31st, 2008 and became available for trade January 2009. However, the knowledge of bitcoin picked momentum in Nigeria in early 2016 about the same time as the MMM Ponzi scheme in Nigeria. Bitcoin is unarguably the future of money and every person living in this century needs to know about it. The price of bitcoin was about $500 in early 2016 and now it’s over $4,000 for 1 bitcoin. Bitcoin miners have predicted that it will hit $6,000 before the end of 2017.
With the popularity of Bitcoin in Nigeria in early 2016, lots of digital currency exchanges that use exchanges currencies like Paypal, Neteller, Okpay, etc started providing Bitcoin exchanges services.
I bought my first bitcoin which was 1btc in 2016 at 278,000 Naira. It took about 5 days for the bitcoin exchange I used to credit my bitcoin wallet. Now bitcoin exchanges in Nigeria are much faster, some will credit your bitcoin wallet instantly while some take about 10 – 15 mins to credit your bitcoin wallet with bitcoin.
Here are the 11 top bitcoin exchanges in Nigeria. The first 3 are foreign to Nigeria but provide their service in Nigeria while the rest are indigenous to Nigeria.
UPDATE: THE LIST BELOW IS FOR 2017 – CLICK HERE TO READ TOP 10 BITCOIN EXCHANGES IN NIGERIA 2018
Top Foreign Bitcoin Exchange in Nigeria
Luno is one of the most convenient bitcoin exchange to buy and sell bitcoin instantly in Nigeria. Formerly know as Bitx, they rebranded in 2017 to Luno. Launching their mobile app and instant deposit. Users can now buy Bitcoin with the debit/credit card on Luno. You can now also Buy Ethereum (Ether) on Luno
Luno provides users with 3 services.
- Provision of Bitcoin wallet
- Instant buy and sell of Bitcoin and
- Bitcoin trading (you can Trade bitcoin against the Naira on Luno)
Remitano is another bitcoin exchange in Nigeria that has gain Popularity in 2017. They are very much like localBitcoins. However, in Nigeria, it is cheaper to buy bitcoin on Remitano than LocalBitcoins. I have reviewed and compared Remitano and Localbitcoins in the past (you can click here to read). Remitano is available in 52 countries. They facilitate bitcoin Transactions by connecting buyers and sellers of bitcoin to make exchange using the escrow system. You will likely buy bitcoin at the best price possible on Remitano. However, since you are dealing directly with people. You must trade safely in other not to lose your money or bitcoin. I recommend you read my review on Remitano if you want to trade on Remitano. Remitano now also provides support exchange of Ethereum(ETH) and Tether (USDT)
Localbitcoins is one of the first bitcoin exchange in the world. They are the first in Nigeria. LocalBitcoins is available in all the countries of the world. Just like Remitano above, they connect buyers and sellers of bitcoins using the escrow system. Even though LocalBitcoin is reputable, you have to learn to Trade safely on Local Bitcoins.
Top Bitcoin Exchange Indigenous to Nigeria.
Instant Gold Nigeria
InstantGoldNigeria is the oldest digital currency exchange in Nigeria they have been around for 10 years now so I can say they are the baba of digital currency exchange in Nigeria. They provide bitcoin exchange services, Ethereum exchange services, Litecoin exchange service and exchange services for other digital currencies like perfect money, Skrill, Neteller, etc. InstantGoldNigeria have also improved through the years, their funding is now instant. Their office is located in Ikeja, Nigeria.
NGexchanger is your one-stop shop to buy the major Cryptocurrencies in Nigeria. They are not as old as instantGoldNigeria in the Bitcoin exchange business, however, they provide exchange services for more cryptocurrency than any other Bitcoin exchange in Nigeria. NGexchanger located in 20 Mbonu street, Dline, Port Harcourt, Nigeria provide exchange service for cryptocurrencies like; Bitcoin, Litecoin, Ethereum, Bitcoin cash, Neo, Ripple, Dashcoin, Ethereum Classic and 4 other digital Currencies
Naira2Usd is another reputable indigenous Bitcoin exchange service. They have a wonderful customer service and I did enjoy my experience with them. A transaction initiated on Naira2usd will have to be completed over WhatsApp. Therefore you must have WhatsApp installed on your mobile device to buy bitcoin from Naira2usd. Naira2usd provide bitcoin exchange service and exchange services for 4 other digital currencies including Paypal, Payoneer, skrill, Perfect money and Neteller. Their office is located at KM 16 Onitsha/Owerri Road, Anambra State. This site is currently under maintenance.
Nairaex gained its popularity in early 2016 when there was a high demand for bitcoin in Nigeria. It was one of the few Bitcoin exchanges what was able to meet the demand for bitcoin in 2016. Nairaex provides exchanges services for Bitcoin and only Bitcoin and they are good at it. I am looking forward to their providing Bitcoin wallet and exchange services to other cryptos like Litecoin, Ethereum and wallet services. They are located at 10, Lagos RD, Ita-oshin Abeokuta, Ogun – State, Nigeria.
Nigeria Gold Exchange
This Bitcoin exchange company is based in Port Harcourt Nigeria. They provide bitcoin exchanges services and exchange services for other e-currencies like perfect money, webmoney, solid trust, skrill, etc. they have made their mark as the second leading e-currency exchange in Port Harcourt, earning them a spot in the top 11 Bitcoin exchange service in Nigeria.
Bitcoin exchange services in Nigeria cannot be talked about without mentioning Naira4dollar. I have bought Bitcoin from them in the past so I can confidently say that they know their Job. Naira4dollar offers exchange service for Bitcoin and perfect money. They have their offices in 4 locations at Ibadan and 3 in Lagos.
eTradexchange is located in Lagos Nigeria, However people resident in Ghana can carry out bitcoin exchange with this company. They offer bitcoin exchange and exchange of other e-currencies such as Payza, Neteller, advcash, Binary.com etc.
Wink payment has been around for a while I was able to carry out a lot of Bitcoin transaction on with this exchange towards the end of 2016. However, I was not able to register on their website which is likely a bug in their system. Anyways, I was able to carry out all Transaction over WhatsApp, their response time is 1mins to 5mins. Winkpayment office is at Abeokuta Ogun State, Nigeria. They offer bitcoin exchange service and perfect money exchange services.
These are the top 11 bitcoin exchanges in Nigeria. If you have a question. Please leave a comment below.