20 Best Sites To Buy Cryptocurrency In Nigeria 2022

Searching for the best site to buy cryptocurrency in Nigeria? Here is a list of the safe and secure site to buy cryptocurrency in Nigeria.

The need to purchase Bitcoin in Nigeria wasn’t as huge as the way it is now, either due to insufficient education about cryptocurrencies or those platforms or crypto exchanges did not care much about the Nigerian market to facilitate the process.

Both exchange platforms and brick-and-mortar stores have adopted Bitcoin and other cryptocurrencies for trading purposes.

We present a guide on how to choose a safe and perfect place for trading cryptocurrencies. We will share the best site where you can buy Cryptocurrency in Nigeria 2022.

As Bitcoin adoption has grown in Nigeria, more crypto exchanges have now set their sights on that market.

Therefore, the average Nigerian would have easy access to buying Bitcoin through their platform.

This detailed guide will take you through the top 20 Best Sites To Buy Cryptocurrency In Nigeria 2022.

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20 Best Sites To Buy Cryptocurrency In Nigeria 2022

1. Coinbase

Coinbase is a popular platform for buying and selling Bitcoin and other Cryptocurrency.

Coinbase supports almost all the available cryptocurrencies.

It was founded in the year 2012, July 20th by Armstrong Brian and Fred Ehrsam.

The major idea of creating this platform was to ease the stress of looking for a means to buy and sell cryptocurrencies.

But presently, it has extended from being just an exchange platform to also have a crypto wallet.

In terms of security, Coinbase is very secured with two-way authentication.

It is very difficult for blackhats to gain access to your Coinbase wallet.

Presently, this Bitcoin and cryptocurrencies exchange platform has over 33,000,000 users.

It is one of the most widely used exchange platforms for selling and buying cryptocurrencies.

Coinbase supports almost all the available cryptocurrencies starting from Bitcoin to Altcoins and also supports almost all the country except Nigeria.

Recently they updated their policy to exclude Nigeria from their support list because of the restriction by the Central Bank of Nigeria prohibiting Nigerian Banks from offering their banking platforms to Bitcoin and other cryptocurrencies traders.

2. Binance

Binance is one of the largest trading platforms now in 2022 because of its low charges and support policy.

Binance is a Bitcoin and cryptocurrencies exchange platform aimed at simplifying the task of buying and selling cryptocurrencies.

It was launched in 2017 July by Changpeng Zhao when he left Okcoin.

He started the platform with an initial capital of $15 million gotten from fundraising during an initial coin offering.

Binance makes it easy for you to know when to buy and sell bitcoin and other cryptocurrencies because it offers you an overview of the recent market price of all the cryptocurrencies it supports.

It does this in the form of a technical analysis chart (for pro traders) by showing the price movement of the cryptocurrency you want to trade (buy or sell) either in weeks, days, months, and even minutes and seconds.

It also shows you the price change in percentage. This is for people who aren’t traders but which to buy or sell.

Binance offers you a wallet when you sign up. This wallet holds your coin for trading (buying or selling).

In terms of security, Binance is not totally safe because in the year 2019, May 7th, it was hacked and over $40 million worth of Bitcoin was stolen.

Unlike other Crypto exchange platforms whose policy no longer supports Nigeria, Binance has a peer to peer (P2P) trading that makes it easy to trade (buy and sell) and withdraw directly to your local bank account.

3. Yellow Card

Yellow Card is an American VC-backed crypto exchange with operations in over 13 African countries including Nigeria, South Africa, Cameroon, and Tanzania. In Nigeria, Yellow Card enables you buy and sell Bitcoin and USDT with Naira.

The exchange has now introduced Know your Customer (KYC), which makes it more compliant with international best practices for financial services providers.

The introduction of peer to peer trading means it is not limited by the restrictions in crypto trading by the Central Bank of Nigeria.

One of the exciting feature of the new Yellow Card app is the buy USDT in Naira feature.

With an amount lower than 1,000 Naira, you can buy USDT (Tether), a stablecoin pegged to the USD, making it a great way to save in dollar.

The Yellow Card App is available for both Android and iOS. Just visit the Google Play Store or App Store to download the app.

Check Out: 10+ Best online brokers for buying and selling cryptocurrency in 2022

4. Presmit

Prestmit is an over-the-counter cryptocurrency exchange application available for both web and mobile users.

Prestmit supports multiple cryptocurrencies including Bitcoin, Dogecoin, Litecoins, Tether, etc.

Having been in existence since 2019, Prestmit has, over the years, proven to be one of the best apps to sell cryptocurrencies easily in Nigeria and Ghana.

The Prestmit platform is equipped with autonomous transaction procedures, making it very simple for users to exchange their crypto for fiat.

Available fiat options include naira and cedis. On Prestmit, transactions are automatic, and crypto received to the user’s wallet are automatically credited to the user’s fiat wallet with no manual intervention required.

Above all, Prestmit also allows users to buy bitcoins using gift cards, making it the only crypto trading application in Nigeria that offers this flexibility.

5. Kraken

Kraken is another great platform for buying and selling cryptocurrencies.

Though not popular but has over 5-star reviews from its current users.

It is a San Francisco-based company and was established in the year 2011 but officially started operation in 2013.

It is owned by a registered establishment – Payward Inc managed by co-founder Jesse Powell.

Kraken was initially established for only just the trading of Bitcoin.

But over the years with the evolution and value-added to other cryptocurrencies, it now supports 17 different Altcoins in addition to Bitcoin.

Kraken has been reviewed to be completely safe as there is no record of hacking or misplacement of coins.

But it is known for its high charge fees but in exchange and withdrawal.

From the onset even before the ban on a cryptocurrency exchange in Nigeria, its policy has never supported Nigeria.

6. Gemini

Gemini Trust company is a digital exchange company that allows the exchange of digital currencies and stocks. These currencies could be in Fiat rates or Cryptocurrencies.

It was founded in the year 2014 by Tyler Winklevoss and his brother Winklevoss. The idea was to create a secured platform where digital assets can be traded and exchanged thereby liberating the public from the stress of having to go to a physical-digital establishment.

It has a secured wallet that has never been bridged from the day it was established.

This digital currency exchange platform is considered to be one of the best and most secured platforms available.

The only downside to this platform is that they have a high fee placed on any exchange done.

They often charge 0.05% or 1.49% depending on the assets being traded. At times they have a fixed fee of $0.99 on any exchange done.

This platform happens to be one of the many platforms that don’t support traders from Nigeria. To be able to trade with them, you need to have an international mobile number.

Also Read: Fiat Money vs Cryptocurrency: Advantages, Disadvantages and Differences

7. eToro

eToro is a cryptocurrency platform operating on two different purposes – Trading and investing.

It was established in the year 2006 in Tel Aviv Israel by Yoni Assia, Ronem Assia, and David Ring for the purpose of investment.

eToro served as a broker for investment. Along the line, lots of people started giving bad reviews of losing their money to this investment platform so they added cryptocurrency exchange to help build the company.

Presently, eToro is recognized as a cryptocurrency exchange platform with a low standard record in the exchange aspect.

It charges $5 on every successful withdrawal on the platform and zero dollar fee for investing.

It is being regulated by FCA, CYSEC, and ASIC so it is safe for both trading (buying and selling) and investing.

From the onset till date, their policy doesn’t support Nigeria but there are promises from them that in the nearest future, Nigeria will be welcomed with arms opened wide.

8. Robinhood

Robinhood is another great trading Platform that allows you to buy and sell bitcoin and Cryptocurrency and other stock. You can trade your Cryptocurrency asset to other stock available like fiat currency.

It was founded in 2014, managed by Co-founder Baiju Bhatt. The founder once recorded to the press that his motive behind establishing this exchange Platform was to liberate the high cost of exchange fees found in other Platforms.

Trading on this platform is free and attracts zero percent commission no matter the stock and assets traded. They make their profit by indulging in the trading activity just like other traders.

They have a secured wallet that allows you to transfer your assets or stock to it but you cannot transfer from the wallet to another wallet. Every transaction is done there and sent directly to your local bank account.

Up until recently, Robinhood used to allow Nigerians to trade freely without having to look for means like faking identity just to bypass their policy. But recently due to the ban by the federal government of Nigeria, they no longer accept Nigerians.

9. Luno

Luno is a digital platform for buying and selling cryptocurrency, storing cryptocurrency, and easy means of paying for services.

Luno (initially known as BitX) was founded in the year 2013 by Marcus Swanepoel, Timothy Swanex, Carel Van Wyk, and Francisco Paul.

The initial purpose of Luno was to make it a crypto wallet for storing cryptocurrencies because it is completely safe.

But in the long run, it added trading (buying and selling) features for Bitcoin and cryptocurrency.

Trading with Luno is strictly at your own risk because it is not completely legalized to trade by any jurisdiction.

In terms of service fees, it offers a flat rate for certain withdrawals and at times $0.

Luno policy used to support Nigeria until CBN’s new ban on cryptocurrencies.

10. Coinmama

Coinmama is among the list of crypto platforms that changed its initial form to suit the current trend in the world of cryptocurrency.

It was founded by Nimrod Gruber in the year 2013 with the mindset of simplifying the way people buy Bitcoin only.

This was because when the company was being raised, Bitcoin was top and leading in the cryptocurrency market.

Recently, they have included exchanges for other top Altcoins to diversify their reach and catch up with the current trend in the crypto market.

Trading with this platform is risky because they don’t have any wallet for traders. You make purchases and buy coins directly with your crypto wallet on this platform.

With this system of operation, you stand the risk of either getting your wallet hacked or writing your wallet address wrongly.

Before now, Coinmama did not allow Nigeria to buy crypto directly but through a third-party means that they provided.

But currently, because of the ban by CBN, Nigeria is now on the restricted policy on Coinmama.

You might also want to check out 20 Best Crypto-Friendly Banks in US, Canada, Europe (2022)

11. Remitano

Remitano is an online peer-to-peer exchange through escrow. It allows you to trade any digital assets in the presence of an administrator. All exchanges are made in the knowledge of the administrators.

This platform was founded in 2015 and it’s a Seychelles-based company founded and led by a company – Babylon Scholars limited. The main idea was to make it possible for countries down on Cryptocurrency usage and exchange to be able to trade and make money off Cryptocurrency.

This platform is considered to be one of the most secure even though it doesn’t have its own Wallet.

It allows you to buy and sell bitcoin and other coins using other secured wallets like a Binance wallet. All the saving and storing transactions will be done in your wallet.

Remitano supports over 30 countries of which 15 are African countries. Nigeria is amongst the 15 supported countries so it’s possible to trade on this platform.

12. Kucoin

Among the ever elongating list of cryptocurrency exchange platforms, Kucoin happens to be recognized as one of the best.

Kucoin was founded on September 15, 2017, by Michael Gan, Eric Don, Top Lan, Kuet Li, John Lee, Jack Zhu, and Linda Lin.

From the onset, Kucoin has been a great platform supporting the trade (buying and selling) of Bitcoin and fast-growing Altcoins like Tron (TRX) and Ripple (XRP).

This platform offers you an instant and safe wallet whenever you want to trade or make an exchange.

From the records, this platform is one of the best because it has never been hacked and there have been no recorded cases of fraudulent activities.

The only challenge you might face using this platform is their high charge. They charge over 3% of your coin whenever you’re buying or withdrawing.

Kucoin policy used to support Nigerians until the cryptocurrency restrictions by the CBN.

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13. Quidax

Quidax is an exchange platform whose aim Is to Bridge the gap between Nigeria and cryptocurrency.

Quidax was established in 2017 by a Nigerian by the name Bauchi Okoro. It was established with the intention of making cryptocurrencies available for Nigerians to trade in Naira.

Though this platform is not yet popular and used by almost all traders in Nigeria, the reviews from those already trading with this platform suggest that this platform is genuine and safe.

Quidax has its own customized, secured and easy-to-use wallet that it offers to all its traders.

It is secured to date and has zero record of ever being hacked, mishandled coins, or disrupted in the working process.

Before now Quidax was available to all Nigerians as it’s the main motive of establishing the platform.

But due to the recent restrictions on cryptocurrencies transactions in Nigeria, no transactions involving Nigeria are accepted in Quidax.

14. Bitpanda

Bitpanda is an Australian-based cryptocurrency exchange Platform. Bitpanda offers two types of Trading.

It was founded by Eric Demuth in the year 2014 to facilitate the buying and selling of cryptocurrency.

Bitpanda offers two types of trading – Newbies Trading and Bitpanda Pro trading.

The newbies trading experience can be best described as an exchange where you directly buy and sell with the platform and its available funds.

You don’t need to have any prior experience in trading to be able to use this type of trading.

In Bitpanda Pro trading, you are expected to trade with peers. You offer your coin to be sold at a certain amount and if the amount is accepted by another trader, he’ll buy your coin.

This form of trading requires you to be able to trade like a professional so you don’t end up losing all your coins.

Bitpanda has its own wallet for trading disregarding the form of trading you wish to engage in. It has been recognized as one of the most secure Bitcoin exchange platforms. Even before the ban by CBN, Its policy did not support the traders from Nigeria.

15. LocalBitcoins

LocalBitcoins is a peer-to-peer platform that enables Nigerians (and other users) to buy and sell bitcoin among themselves. On the platform, you can trade directly with another person, make payments, and get value instantly. LocalBitcoins offers escrow protection for every trade which is meant to ensure the bitcoins and both traders are safe.

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16. NairaEx

Here’s a Nigerian-based cryptocurrency exchange that makes buying bitcoin in the country ridiculously easy. The major payment method into the NairaEx wallet is via a virtual bank transfer which makes top-up instant.

17. Bundle

Bundle is a social payments app for cash and crypto. Hence, as a user, you can send, request, and receive Bitcoin on the platform.

More importantly, you can buy Bitcoin from Nigeria after adding naira into your Bundle account.

18. BitPesa

BitPesa is an Africa Cryptocurrency exchange with over 26,000 users. The platform supports the purchase of Bitcoin from Nigeria and other African countries.

Users can pay with Paga or their debit card. However, BitPesa does not provide a Bitcoin wallet; users can create a third-party wallet to receive Bitcoin.

19. Breet

Breet app is an automated crypto-to-fiat app that allows anyone in Nigeria to sell their crypto and recieve cash in return straight to their bank account. Without paying any transfer fee whatsoever.

Breet lets you get the cash value for your crypto immediately within 5 minutes.

Breet also acts as a payment gateway in Nigeria where businesses can accept payments using popular cryptocurrencies like Bitcoin, Litecoin, Ethereum, Dogecoins, and BCH.

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Cryptocurrency Bitcoin and financial banking market with a growing virtual currency

20. Chipper Cash

Chipper Cash is a borderless way to send and receive money across Africa, including Nigeria.

The platform recently allowed users to be able to buy bitcoin and any other Cryptocurrency in the app.

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Wrapping Up On The Best Sites To Buy Cryptocurrency In Nigeria

It is important that you critically analyze each platform before trading on it in order to be comfortable with its mode of operation, particularly now that CBN has banned cryptocurrency trading for banks in Nigeria.

Based on this guide, you will be able to make an informed decision on the best Cryptocurrency trading platform for you

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