Cryptocurrency adoption has skyrocketed in Nigeria over the past years, a trend that is seen worldwide too. In Nigeria, it’s partly because of the economic stability, but mostly because of the tech-savvy youth of Nigeria. Bitcoin is at the heart of it all, with all the best crypto trading platform in Nigeria offering it. With the leading trading volume of any country for Bitcoin trading, Nigeria has a wide array of exchange platforms, that are suitable for beginners and also the experienced traders.
The always volatile financial system and the need of the people for privacy, is at the core of the cryptocurrency scene, and selecting the best crypto trading platform in Nigeria and the best site to buy bitcoin in Nigeria is crucial. Whether you’re looking for the cheapest place to buy bitcoin in Nigeria, a centralized exchange with deep liquidity, or a noncustodial wallet for holding your BTC, this guide has you covered.
Looking for the safest way to store your Bitcoin? Check out our guide on which Bitcoin wallet is best in Nigeria.
Understanding the Bitcoin Market in Nigeria
Before we get in to learning about the best trading platforms, let’s talk about the Bitcoin landscape in Nigeria. And if you are new to cryptocurrency, make sure to check out our Beginner’s Guide on How to Buy Bitcoin and Other Cryptocurrencies in Nigeria.
Why is everyone in Nigeria so into Bitcoin?
- People are tired of inflation – The Nigerian Naira (NGN) has been volatile for a long time, so people want to avoid devaluation of their assets by storing it in Bitcoin.
- Remittances – Bitcoin is an easy, cheap and reliable way of sending and receiving money internationally.
- Enjoy benefits of digital currency – Many Nigerians lack access to traditional banking services, and Bitcoin allows them to become part of the digital financial system.
- Trading and investment – Nigerians are getting into trading and investment, and Bitcoin is their go-to coin for this.
Best crypto trading platform in Nigeria
It’s time to talk about the top trading platforms in Nigeria. There are hundreds, if not thousands, of different places where you can buy Bitcoin in Nigeria. If you are a newbie trying to enter this market, it can all be a bit daunting. So, we have made it easy for you by listing the best crypto trading platforms in Nigeria. They are:
Now that we have listed them, let’s look at each in detail.
Gate.io
Gate.io is a well-established cryptocurrency exchange offering wide-ranging options for trading including spot trading, skating and futures. It has very strong security measures and user-friendly interface. This makes it a great choice for crypto buyers in Nigeria.
Why We Chose It
We picked Gate.io because of its diverse trading features, high liquidity, and commitment to security. The platform supports thousands of cryptocurrencies, making it an excellent option for both beginners and experienced traders.
Pros:
- Available in Nigeria with a dedicated mobile app and P2P trading for local payment options.
- Offers a wide selection of cryptocurrencies with advanced security features.
- Supports margin trading, futures, and lending options.
- Strong security measures, including two-factor authentication (2FA) and cold storage.
Cons:
- Not available in some countries, including the U.S.
Security and User Experience
Gate.io prioritizes user security with two-factor authentication (2FA), cold storage, and anti-phishing measures. The platform also provides real-time market data, professional charting tools, and a smooth trading experience. Nigerian users can access the platform via the mobile app and use P2P trading to buy Bitcoin with local currency.
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BingX
Established in 2018, BingX is a cryptocurrency exchange offering services such as spot trading, derivatives, and copy trading. The platform has garnered recognition, including the “Best Exchange Broker” award from TradingView in 2021.
Why We Chose It
BingX stands out for its diverse trading options, user-friendly interface, and commitment to security. Its copy trading feature allows users to emulate strategies of experienced traders, making it suitable for both novices and seasoned investors.
Pros:
- Offers a wide range of cryptocurrencies and trading pairs.
- Provides a robust copy trading feature with over 17,000 professional traders.
- Recognized for its user-friendly interface and comprehensive trading tools.
Cons:
- Not regulated by top-tier financial authorities, which may be a concern for some users.
- Some users have reported issues with customer support responsiveness.
Availability in Nigeria
BingX has actively engaged with the Nigerian market, offering Peer-to-Peer (P2P) trading services that support the Nigerian Naira (NGN). However, due to exchange rate fluctuations, the platform discontinued its P2P Trading feature for NGN on May 7, 2024. As of now, Nigerian users can still access BingX’s other trading services, but direct NGN support is limited.
BingX emphasizes security with features like two-factor authentication (2FA) and cold storage for assets. The platform’s intuitive design and advanced charting tools enhance the trading experience, catering to both beginners and professionals.
Overall, BingX offers a comprehensive suite of trading services with a focus on user experience and security. Making a great option for potential Bitcoin buyers. You can enjoy extra benefits by using our referral link
Conclusion
If you are living in Nigeria, you have probably considered investing in Bitcoin. This guide tries to make that choice easy for you by listing the best crypto trading platform in Nigeria. You can easily navigate the Bitcoin environment with plenty of crypto apps in Nigeria and platforms available for how to buy Bitcoin in Nigeria. Whether you’re a beginner looking for the cheapest place to buy Bitcoin in Nigeria or an experienced trader, there’s a solution for you.
Happy trading!
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency investments carry risks, including market volatility and potential loss of capital. Always conduct your own research and consult with a qualified financial advisor before making investment decisions.
