Nigeria's Premier Bitcoin Exchange Nigeria's Premier Bitcoin Exchange Instant Trading: Real-time & Automated Payments. Trading Bitcoin has never been so easy! Create Account Now Create Account Now. Price Tickers. Calculate the price to buy or sell Bitcoin & Perfect Money in Naira. Bitcoin & Cryptocurrency Trading in Nigeria On this site you find the best Bitcoin and altcoin brokers who welcome Nigerian citizens. You are free to long and short Bitcoin from Nigeria on these popular cryptocurrency trading platforms. Nov 26, · Nigerians are turning to Bitcoin in the face of a struggling economy. Bitcoin is propping up businesses unable to obtain the US dollars needed for international trade. The cryptocurrency is gaining legitimacy as a second source of income, a hedging tool, and Author: Adriana Hamacher.
Bitcoin traders in nigeriaBuy Bitcoin in Nigeria:- The 10 Best Exchanges ( Upate)
Nigerians are also tapping into the cryptocurrency opportunity to fight poverty because there are many platforms to buy Bitcoin in Nigeria. These platforms have made converting Bitcoin to naira easier than ever. For Nigerians to get bitcoin in Nigeria and easily convert Bitcoin to naira is now undoubtedly a convenient process. We can now find many Nigerian youths taking up trading because of the ease to buy Bitcoin with Naira. It is an undisputed fact that cryptocurrency has provided several opportunities.
The fear of scams is why most Nigerian traders are scared to use local exchanges. They prefer international platforms that allow them to buy bitcoin with Naira. There are many ways to get Bitcoin in Nigeria. One easy way is opening an account on Remitano.
On Remitano, you have the opportunity to become a bitcoin trader without any professional training. This is because of how their website and service has been built. It takes a few minutes to open an account and start buying Bitcoin with naira on Remitano. Bank transfer has made any form of trading easy. Whether it is grocery shopping, buying gadgets, or trading bitcoin, you can complete a transaction in a few minutes via bank transfer. Peer-to-peer exchanges allow you to buy bitcoin with naira from sellers using the bank transfer option.
Bank USSD codes and mobile applications make it easy to transfer money to bitcoin sellers. It is also a perfect option for converting your bitcoin to naira, you simply sell to the buyer and receive the equivalent in your bank account. This process is also a common way to get bitcoin in Nigeria.
Once you purchase a gift card, either Amazon or iTunes with cash and you activate the card, the next thing to do is to scratch the back and have the receipt available with you. You can find the gift card option on platforms like Coincola. Simply choose the option of buying Bitcoin with gift cards, your browser will be directed to another page. The traders will give you the option of paying back with bitcoin.
Sawyerr, who was raised in Nigeria, explained that sub-Saharan Africa is the most expensive place to move money into. In November , the nation officially went into recession for the second time in five years.
Nigerian businesses need dollars to buy new supplies, and order essential equipment from abroad—but formal sources for obtaining foreign currency, such as banks, are failing to meet this demand, he further explained. Their efforts are now reportedly bearing fruit, with plenty of businesses switching to Bitcoin for international trade.
Mad to think that our central bank has inadvertently driven BTC mainstream. Just here for the violence. Meanwhile, crypto services—exchanges such as Binance, and P2P marketplaces such as Paxful—have been stepping in to fill the void. And in the first nine months of , new registrations at Paxful more than doubled compared to the same period last year. Paxful now has , Nigerian users, and according to Nwachukwu, the way people are using Bitcoin has grown too.
Reports also suggest that increasing numbers of traders are using Bitcoin to pay suppliers. Chinese suppliers, in particular, are keen to do business in Bitcoin for its speed and convenience. It also means Nigerian businesses no longer need to buy dollars using Naira or shell out fees to money-transfer firms. Nwachukwu points out that interest in cryptocurrency has grown fastest among millennials. But the majority of young people are either unemployed or underemployed, and often unbanked.
Even those fortunate enough to qualify for a bank account are hobbled by spending limits that can be unreasonably low, or find that their Nigerian IP addresses have been blacklisted, said Sawyerr. Bitcoin and stablecoins , which are pegged to the dollar and easy to cash out, have proved their salvation, he added.
Last summer, Nigerians downloaded more bitcoin. Many Nigerians have shunned doing business online in recent years due to the preponderance of social-financial, get-rich-quick and Ponzi schemes, such as MMM, Twinkas and others, according to Luka Anthony, overseas manager for Chinese financial services startup GetBit.
The scams have tainted the image of cryptocurrencies in the country, he argued—but recent events have given Bitcoin a shot of credibility. The police unit stands accused of extortion, torture and murder.
Many of those targeted are young males who work in the tech industry.