Nigeria is home to one of Africa’s leading bitcoin economies and has emerged as one of the most active digital currency trading hubs on the continent. In Nigeria, you can find bitcoin startups, digital currency exchanges, meetups, conferences, and a continuously rising demand for bitcoin.
Unlike in many African countries, where bitcoin trading is often limited to Whatsapp groups and social media networks, Nigeria has a multitude of exchanges where locals can buy bitcoin with nairas.
In this article, you will discover the most active and most secure digital currency exchanges you can use to buy bitcoin in Nigeria.
Ice3x.com (iceCUBED) is a South Africa-based cryptocurrency exchange, which is focused on Bitcoin (BTC/XTB), Ethereum and Litecoin. The fiat currency tethers used by the exchange are ZAR (South African Rand) and NGN (Nigerian Naira). What exactly can you, as a user, accomplish at Ice3x? You can buy and sell Bitcoin, Ethereum and Litecoin, for ZAR and NGN. The operation is suited for the frequent trading of these currency pairs too, though it is also a sensible destination to those looking to invest into crypto currencies long-term, in Africa.
To buy bitcoin from ICE3X, you will need to first create an account on ICE3X and fill out the form with your personal details. Once signed up, you will receive an email to verify your account. To fund your ICE3X account with your nairas, you will need to login to your newly created ice3X account, proceed to the DEPOSIT/WITHDRAW tab in the menu bar to make a deposit using your newly created VoguePay wallet (you can get more info here on how to set up a VoguePay wallet).After successfully funding your account, you can proceed to place a buy order .
NairaEx is the largest Bitcoin exchange in Nigeria. Its customers can purchase bitcoins with Perfect Money, bank transfer or with cash via bank deposit.. The exchange was founded in 2015 and is simple and easy to navigate with an inbuilt real-time exchange rate of bitcoin to naira.
Buying bitcoin on NairaEx is very simple. All you have to do is sign up to NairaEx, get verified by uploading a valid identity card, deposit money using a bank transfer or PerfectMoney, and proceed to place a buy order. Upon confirmation of your order, the transaction will be initiated and once it has been completed your account will be funded with the bitcoin you just bought.
Visit Nairaex Website
Remitano is a peer-to-peer decentralized cryptocurrency trading platform where users can sell and buy Bitcoin and Ethereum in exchange for fiat currencies directly between themselves for a relatively small fee, even though there are platforms like Quoine, Kraken or Bitstamp who charge much less. On the other hand, the Bitcoin.de platform, which offers similar service to that of Remitano, also charges around 1%.
Remitano service is available in many countries including the United States, UK, Australia, Malaysia, Nigeria, Vietnam, Cambodia, India, China, Tanzania, Taiwan, Sweden, and Ghana. They target a global expansion, so you should see many more countries in the upcoming time. At the moment, this is a very busy and popular service in some developing markets like Vietnam, Malaysia, or India.
The platform is experiencing rapid growth in Nigeria due to its fast, safe and reliable nature.In order for you to buy bitcoin, you have to create an account on Remitano.com and then proceed to the homepage and click on the buy button. After keying in your desired volume and bitcoin address, a list of top sellers will be listed below depending on the rating. You will then click on any seller you wish and proceed to make payment. After successfully making your payment, Remitano will then release the funds to the seller and you receive your bitcoin.
Luno is a Bitcoin wallet provider as well as an exchange. It is one of the exchange We highly recommend you buy Bitcoin from. They have been around since 2013. They were previously called Bitx. They are present in over 40 countries and have served over 30 million users. Their platform is user-friendly and they have an app to increase ease of use. It is designed in such a way that newcomers to bitcoin can easily use the wallet.
To buy bitcoin from Luno, you need to first and foremost;
- Create an account by signing up at Luno.com
- Verify your identity by uploading a valid identity card
- Proceed to deposit money to your account using any of the various payment options available.
Buying bitcoin from Luno comes in two ways;
- Instant buy or sell (recommended for beginners), which allows users to buy or sell bitcoin either from the Luno wallet or from the website.
- Exchange orders (for advanced or experienced users), which is a little bit more technical as it involves placing an order on the exchange at a specific price and waiting for it to get matched.
Bitkoin Africa is Person-to-Person (P2P) cryptocurrency trading platform where users can sell and buy cryptocurrency from other users. Bitkoin.Africa based in Lagos, Nigeria and cater to Nigerians in Nigeria who are interested in trading cryptocurrency.The exchange was launched in October 2017 and has since seen substantial user uptake in Nigeria.
At Bitkoin Africa, company goal to provide a platform that serves their users’ needs – whether it is buying, selling, storing or transferring Bitcoin – as conveniently and quickly as possible. Users are assured of instant settlements on all trades, without the need to communicate with corresponding buyers or sellers. This makes us the only Bitcoin exchange platform to bring instant payments and settlements on all Bitcoin trades to Africa.
NGexchanger is a Subsidiary of Nyxel Integrated Services. An ICT company registered by corporate affairs commission of Nigeria (CAC) with Registration Code BN 2491541.
NGexchanger is a leading and most trusted e-currency service provider in Nigeria, specializing in the buying, selling and exchanging of e-currency in Nigeria.
We have vast knowledge and experience in e-currency services and driven by a vision to provide reliable and affordable e-currency exchange services and have adopted several mission objectives to achieve this.
NGexchanger practice the true meaning of instant funding once we receive your payment for an order. We treat every of our customer in a unique and special way.
To buy bitcoin from the platform, you will need to create an account and get the account verified by uploading a valid ID card. However, you can still buy bitcoin without having a verified account. In such instances, you will need to have a funding limit of $1000 per day with the minimum buying amount being $10. Follow these simple steps to buy bitcoin on NGExchanger:
- After registration, login to your account and click on buy
- Select the e-currency account type you want to buy (in this case click on bitcoin)
- Input the desired volume of bitcoin you want to buy in US Dollars
- Enter your bitcoin wallet address
- After clicking on the proceed button, a payment invoice will be generated with a transaction number. Make payment to the bank details of NGExchanger that will be displayed and include the transaction number in your payment invoice.
- After successful payment, click on confirm to record and save the transaction. Once the payment is received, your bitcoin address will be funded and a message sent to your email confirming that.
Instant Gold Nigeria is a total e-business solution provider that specializes in the provision of fast, reliable and efficient e-currency exchange service to the clients who desire to buy and sell online with ease. InstantGold are one of the World’s most reliable and fastest link to the World of e-currency.
You can contact them on WhatsApp or BBM or by email and phone call. IntantGoldNigeria is a reputable exchange to buy bitcoins in Nigeria.
BitPesa is a Bitcoin remittance company. They sell bitcoin in Kenya via the popular M-PESA mobile payment service. BitPesa also has a presence in 2 other African countries. In Nigeria, you can use BitPesa to buy bitcoins with your debit card or Paga account. In Uganda, you can buy with MTN or Airtel. Purchase method for Kenya is coming soon.
Sending payments in and out of Africa has always been a difficult process. They rely on traditional financial processes, converting local currency into US dollars, passing it through multiple banks, and then converting it back into its destination currency.
Wink Payment from my experience is the fastest place where you can buy bitcoin in Nigeria without verification (Luno is faster But you need to be verified).Exchange directions for both Perfectmoney and Bitcoin on wink site are automated. Wink Payment have a modern epayment system that supports internal transfer where customers from over the world can use electronic payment for ecurrency and cryptocurrency funding. Wink Payment customer can be rest assured that all transactions made on our site are secured, with years of experience in online and offline businesses, you can be in no better place.
localBitcoins was launched in June 2012 in Finland. They are the world largest bitcoin exchange with a presence in 249 countries. Their Operation is like that of Remitano above in that they connect buyers and the sellers using the escrow system. LocalBitcoins is the very first site where people bought Bitcoins in Nigeria. They also provide Bitcoin wallet for users. However, it is highly recommended you don’t leave your bitcoin in your LocalBitcoins wallet.
To buy bitcoin on LocalBitcoins exchange, you need to create an account on the platform, verify your identity, click on any seller on the homepage that is willing to sell you bitcoin at a price you feel comfortable with and a payment method that works for you.
After clicking on the ‘buy’ button, you will be given details of the transaction including the seller’s terms and conditions. You can choose whether or not to proceed with the particular buyer depending on how comfortable you are with these terms.
To execute a trade, type in the blue box how much bitcoin you want in naira and also add a message to the seller after which you click on the ‘send trade request’ button. Once the payment has been made, click on the ‘I have paid’ button and you will receive your bitcoin on your LocalBitcoins wallet within minutes.
Paxful is a peer-to-peer bitcoin marketplace that has gained substantial popularity in Nigeria.
To buy bitcoin on paxful.com, first, you need to click on the ‘buy bitcoin’ option in the top menu bar. Then you enter the naira amount of bitcoin you intend to purchase and select the payment method you would like to use.
After selecting a way to pay, you click on the ‘search’ button to get a list of sellers who are willing to sell you the amount of bitcoin you requested and are also inclined to your payment method.
Just like on LocalBitcoins, the reputations of sellers are scored and it is highly advisable that you select buyers with high reputation to deal with. You then select a seller and begin your purchase order.The trade details will then pop-up on the left-side of the screen and a chat box on the right side of the screen where you can chat with the seller so you can both track the stages of transaction execution.
Once the trade is completed you will receive your bitcoin on your Paxful wallet.
Naira2usd one of the leading e-currency exchangers in Nigeria, owned by Simac C & S Services and funds (Buy, Sell and Exchange) various e-currencies including Perfect Money, Bitcoin, WebMoney, PayPal, Skrill, Neteller, Payoneer, Litecoin, Ethereum and so on. Their customer service is excellent and their speed of transaction is commendable. It took about 15 minutes. They way they function is that you initiate the transaction on their website and complete it over WhatsApp with their rep.
There are also other local e-money exchange platforms that allow you to buy bitcoin such as CryptoMart.
However, when it comes to buying bitcoin, it is advisable to use well-known established exchanges such as Paxful, LocalBitcoins, NairaEx, ICE3X, and Luno as they offer the most secure buying options.