Aug 23, · In a quick summary, a bitcoin trading process involves 3 simple steps which include: First you’ll need a bitcoin wallet – an app that lets you receive, hold, and spend bitcoin. Open a Bitcoin trading account in Nigeria at NairaEx website on 24crypto.de, buy your first set of bitcoins and transfer it to your bitcoin 24crypto.de: BTC Nigeria. Mar 16, · You can buy and sell bitcoins in nigeria with sites like Nairaex, Remitano and Luno and then fill your bitcoin wallet, but these site are for trade only in naira. Open trading accounts with foreign bitcoin exchanges and you can trade bitcoin with other currencies directly. It is an easiest way to make money from bitcoin. Feb 23, · How to invest in Bitcoin in Nigeria On how to start investing in Bitcoin, it’s pretty easy. A couple years ago the reverse was the case but with platforms like Quidax, investing in Bitcoin from Nigeria is seamless. You can start investing in Bitcoin with as low as N50 and can fund your account with either your debit or via bank transfer.
How to start trading bitcoin in nigeriaHow to start trading Bitcoin in Nigeria | executium Trading System
If you want to earn and not buy Bitcoin in Nigeria, you are going to need either a very powerful computer or a special machine made just for mining Bitcoins.
Neither of those things are cheap. That said, if you want to start your own Bitcoin business, you should be ready to invest a lot of money and expect a loss in the process at least once in the business.
After all, the world of cryptocurrencies is not for the meek. Another way you can make a fortune with the help of Bitcoins is Bitcoin trading. For this, you need to be well versed in the market tendencies and be a little bit of a clairvoyant, really. You can buy Bitcoin when it's price drops and then resell it when it's price rises. Just like any other business, this is not a risk-free option.
You might not be able to predict the price fluctuations well enough to make a profit everytime. To add to that, you would need to have a starting capital to get into it. But if you do get into it and do it right, you can become rich very fast.
If you want to buy and sell Bitcoins, you can visit luno. If you want to trade in a different currency, you can use the aforementioned localbitcoins. As Bitcoin is a currency, you can use it for the same things as any other regular currency.
For instance, you can lend it out! For this, you just need to open an account in an online bank and deposit your Bitcoins so that the bank can lend them to other people. If you have plenty of money to spare and do not want to bother with anything too complicated, you can always just invest in Bitcoins.
Taking into account how much it has grown over the years, there is a fair chance you might wake up a millionaire one day! Imagine how much richer you would have been if you invested in it two years ago. Taking into account that all Bitcoins are going to be mined soon, their price will most likely rise, so get them while they are hot!
That said, do not, we repeat, do not invest your last money in Bitcoin. Invest only the amount you are ready to part with. View it as a possible opportunity and not as a definite source of income. With this kind of mindset, no fluctuations in the Bitcoin price will bother you too much. Before jumping into this page, an important disclosure. Don't have a wallet? Luno also offers an Instant Buy feature. We may receive compensation when you use Luno. Please visit Luno for its exact pricing terms.
Founded mid, Kraken is the one of the world's largest cryptocurrency exchanges, and the largest in Europe based on daily average trading volume. It is available in almost all countries. LocalBitcoins is an escrow service which also helps to match bitcoin buyers and sellers.
Users may advertise trades for whichever payment method they prefer. Buying bitcoins via an in-person meeting, secured and facilitated by LocalBitcoins, may be one of the fastest and most private ways to buy bitcoins in any country, including the United States , Europe besides Germany , UK , Singapore, Canada , Australia and many more.
We may receive compensation when you use LocalBitcoins. Please visit LocalBitcoins for its exact pricing terms. NairaEx is the largest Bitcoin exchange in Nigeria. Its customers can purchase bitcoins with Perfect Money, bank transfer or with cash via bank deposit. BitPesa is a Bitcoin remittance company. 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. Purchase method for Kenya is coming soon. You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. While Luno or NairaEX will let you do this, their interfaces are similar to Coinbase in that they're geared toward retail investing rather than trading. Additionally, liquidity may not be great enough on these smaller exchanges to avoid slippage, which will cut into your profitable trades and magnify your losses.
The best platforms for trading are the large exchanges with global coverage. These exchanges list hundreds of asset pairs, have deep orderbooks, and are less prone to downtime than smaller operations. You may find CoinMarketCap's ranking of exchanges by overall liquidity useful when deciding where to take your business. In addition to Binance - whose offerings tailored to Nigerian customers we went through above - some good choices of exchange are Kraken , Bitfinex , and Coinbase Pro. All of these exchanges will provide you with a customizable trading interface, complete with all the tools and indicators you could need to maximize your chances of trading profitably.
We've compiled a list of the best Bitcoin exchanges in Nigeria, from locally-operated exchanges to worldwide market leaders with especially good offerings for Nigerian users.
NairaEX touts itself as "Nigeria's Premier Bitcoin Exchange" and it is indeed the only Nigeria-based exchange currently open for trading. There are no additional trading fees for buying or selling on NairaEX. Instead, fees are baked into the price of the asset. You can see the current spread on NairaEX's homepage.
One major benefit of NairaEX's setup is that it is a non-custodial exchange. This means that your assets are not held in a centralized wallet, which are prone to hacks, but instead are sent directly to your own wallet once the transaction has been processed. Their official blog has a helpful post outlining the differences between Bitcoin and Perfect Money for those unfamiliar with both e-currencies.
Luno was originally launched as BitX in and since then it has grown to be a player in some niche markets around the world. Deriving most of its volume from South Africa, Luno is also popular in Nigeria and has recently expanded to service Bitcoiners in Uganda too.
Add to this list Europe, Indonesia, and Malaysia, and you've got yourself an exchange worth considering. Luno aims to provide a competing service to Coinbase , and has made its offerings available in many countries not served by the larger exchange.
Since our original in-depth review of Luno , they've added support for Litecoin , which along with Bitcoin, Ethereum, and XRP are available for trading. Notably, Luno allows you to purchase crypto using a credit card. You can deposit and withdraw directly to a bank account. Luno also offers Paystack and PayU deposits for Nigerian customers.
These fees are very competitive compared to other exchanges. This puts it in rd place out of in Nomics' review of exchanges by liquidity and transparency.