See the best ways to buy & sell Bitcoins in Nigeria

See the best ways to buy & sell Bitcoins in Nigeria

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Are you looking for reputable websites and companies to trade Bitcoin as well as altcoins in a safe way? This post will show you the top best ways to buy & sell bitcoins safely in Nigeria and across the globe.

Bitcoin is an online digital currency that was invented in 2009 by an unknown person or group of people using the name, Satoshi Nakamoto. It is a digital currency that ensures quick and transparent transactions. It’s an innovative payment network and a new kind of money that makes use of Blockchain Technology.

The knowledge of bitcoin became popular in Nigeria 3 years ago, and today, bitcoin is still widely used in Nigeria and across Africa.

Although Nigeria has experienced a massive rise in peer-to-peer Bitcoin payments, some unscrupulous individuals have used it as a means in perpetuating scams and other criminal activities. Hence, there is a need for reputable individuals, companies and websites to ensure safe and secure bitcoin transactions. In this post, I’ll be showing you the best sites where you can safely and securely buy/sell bitcoins as well as other cryptocurrencies.

Luno

Image of the Luno website in the best ways to buy & sell bitcoins in Nigeria

Luno is a website where you can store your bitcoins in a wallet. It’s not only a wallet, but It’s also an exchange (trading) website and a place where you can easily buy and sell bitcoins directly from your wallet. A user can trade, as well as buy/sell bitcoin (BTC) and Ethereum (eth) on the Luno platform.

Pros

  • It’s a trusted exchange.
  • It has Btc and Eth wallet
  • Free deposits and low withdrawal fees
  • It has a mobile app

Cons

  • High fees for sending and receiving bitcoin from other wallets

LocalBitcoins

image of localbitcoins website in the best ways to buy & sell bitcoins in Nigeria

Another safe and secure place where you can buy bitcoin is on Localbitcoins.com. This website is present in many countries across the globe. It is a website where you can easily buy and sell bitcoins with fellow individuals. The difference between Localbitcoins and Luno is that the former acts as an escrow service which allows a user to trade with a seller/buyer directly.

For example, to buy bitcoin in LocalBitcoins.com, you’ll need to select a seller, state the number of bitcoins you want to buy and then start a conversation with the seller. The number of bitcoins you want will be removed from the seller’s wallet and then kept in escrow until both parties confirm that the transaction has been completed. The seller will give you a means of payment, and after payment is completed, the seller has to confirm that he/she has received the money. When the seller confirms this, the bitcoins you purchased will then be released to your LocalBitcoin wallet.

Pros

  • It supports bitcoin storage
  • P2P exchange
  • It’s available in many countries across the globe
  • Supports various payment methods

Cons

  • Presence of a lot of scammers
  • It supports bitcoin only

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Paxful

an image of paxful website in the best ways to buy & sell bitcoins in Nigeria

Paxful is another safe website where you can buy/sell bitcoins, and the process is just like LocalBitcoins. It has become one of the most popular and widely used exchanges in Nigeria. This platform serves as a means for buying/selling as well as sending & receiving bitcoins from the Paxful wallet. Paxful supports a variety of payment options (over 300) like PayPal, perfect money, credit/debit card, fiat, internet banking transfer etc. These various payment options give it an edge over the others.

Pros

  • It supports bitcoin storage
  • P2P exchange
  • Supports various payment options
  • Zero transaction fee for sending bitcoin from one Paxful wallet to another
  • 24/7 live support

Cons

  • It supports bitcoin transactions only
  • High fees for sending bitcoin from Paxful wallet to a not-Paxful wallet

Remitano

image of the remitano website in the best ways to buy & sell bitcoins in Nigeria

Another good platform for buying and selling bitcoins is Remitano. What I like about Remitano is the interface and how easy it is to buy and sell bitcoin. The trading process is almost the same with local bitcoins and Paxful where they act as an escrow between transactions. This process ensures safety in dealing with an individual on the internet. Remitano also supports the options of trading other cryptocurrencies like Ethereum, Ripple, Litecoin as well as USDT. Cool right? You can easily exchange fiat for USDT and send it to exchange for your choice.

Pros

  • Supports Bitcoin, Ethereum, Ripple, Litecoin and USD Tether storage
  • P2P exchange
  • 24/7 live support
  • It has a mobile app

NiaraEX

NairaEx became famous in 2016, and it’s one of the top bitcoin exchanges in Nigeria. Since then, it has been a trusted Nigerian company for buying and selling bitcoins. Their office is Located at Abeokuta Nigeria, and users can purchase bitcoins with Perfect Money, bank transfer or with cash via bank deposit.

an image of the nairaex website

Pros

  • Supports various payment options
  • 24/7 live customer support

Cons

  • Only available in Nigeria
  • No wallet for storing bitcoins

Ngexchanger (buy and sell bitcoins in Nigeria)

Ngexchanger is a trusted e-currency provider in Nigeria, and they have an office in Port Harcourt, Nigeria. It functions just like Nairaex. The edge that Ngexchager has over Nairaex is its support for other cryptocurrencies apart from bitcoin.

an image of ngexchage website

Pros

  • Live support
  • Support Bitcoin storage
  • Supports exchange of altcoins

Cons

  • Supports only Bitcoin storage
  • Only available in Nigeria

Other ways to buy and sell bitcoin in Nigeria

There are other ways to buy/sell bitcoins in Nigeria but note that these non-conventional ways are not as safe as using a verified company/website.

Social media:

Social media like Facebook, WhatsApp, Instagram as well as telegram groups can also be used to buy and sell bitcoins. Although these methods are well known to be used by scammers, there are also some legit groups.

Trading directly with a buyer/seller without an escrow service:

This one is self-explanatory, you meet a buyer/seller online or physically, then you both start a trade. Either to pay money for bitcoin or to send bitcoin for money as the case may be. Again, you need to be careful when dealing with an individual through this means because the person might be a scammer.

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Conclusion on the ways to buy and sell bitcoins in Nigeria

Trading/transacting with bitcoin is now well known in African countries like Nigeria, Ghana, South Africa etc. The ways of buying/selling bitcoins that I listed above can be done by users in different countries.

Do you want to learn more about how you can buy and sell bitcoins? In each website, there’s a detailed explanation of how you can trade with the website.

If there is an exchange that you believe should be among the ways to buy and sell bitcoins in Nigeria, let me know in the comment section.

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