Why Trade Bitcoin with AvaTrade. Uncompromised Safety – We fall under the authorisation of 7 regulatory bodies, and segregate our client accounts, meaning we comply with the highest level of safety protocol.; Many Cryptos to Choose From – Choose from a selection of leading Cryptos to trade on our robust trading platforms.; No Hidden Fees – We offer zero commissions when trading Crypto. NairaEx is a leading Nigerian Bitcoin exchange where you can buy and sell Bitcoin, Litecoin, Bitcoin Cash, Ethereum and Perfect Money with Naira at best rate. Oct 20, · Welcome to Mitrobenetwork, in today's guide, I will expose you to Bitcoin Trading in Nigeria –Including Everything You Need to Know About Cryptocurrency Trading, Buying and Selling Bitcoin, Ethereum & Other Cryptocurrencies.
Trading bitcoin in nigeriaHow to Trade Bitcoin in Nigeria in - Step-by-Step Guide
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. Luno boasts a clean trading interface in the same style as most, meaning you shouldn't have much trouble switching over from a different exchange.
You can trade on the Luno app, which is available for iOS and Android. More advanced features include API integration for automated trading, liquidity depth indicators, and the ability to export your trade history in a.
Local Bitcoins is a great option for buying and selling Bitcoin in Nigeria using a variety of payment methods. Once a deal is opened, the seller will fund the escrow wallet with the Bitcoin to be bought. The buyer will transfer the money and once the seller confirms receipt they will release the BTC.
Should there be any disagreement, the BTC will stay locked in escrow until a solution is found, which may require LocalBitcoins stepping in to act as mediators. Recently, Binance has been greatly expanding its support for Nigerian users. These events are run by local experts and aim to educate and raise awareness about Bitcoin and blockchain.
Complementing its education program, Binance has also made it easier than ever for Nigerians to buy, sell, and trade crypto on its platform. You can now deposit NGN directly into your Binance account using a credit or debit card, following a partnership with Flutterwave. In Sub-Saharan Africa, about 95 million people remain unbanked while many regions in the area, including Nigeria, have embraced new technologies with an increasing amount of innovation.
Working with Flutterwave will help bridge the fiat-to-cryptocurrency gap and we hope to stimulate more financial inclusion as Africa demonstrates strong potential in leading crypto adoption. In addition to allowing users to buy Bitcoin with a debit or credit card, Binance also has a peer-to-peer P2P marketplace, similar to Paxful or LocalBitcoins.
The price you see is the price you get. Binance has a useful support guide for P2P trading here. Binance's strong advocacy programs and the fact that it makes an effort to cater to under-served users who can most benefit from Bitcoin means that the exchange stands out from the pack.
The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. Atomic wallet is a multicurrency mobile wallet with a beautiful interface and easy to use features. Electrum is a Bitcoin-only wallet that has been around since It's easy to use, but has advanced features.
We also have a chart displaying the price of Bitcoin in grams and ounces of gold. Alternatively, if you use a portfolio tracker such as Delta or Blockfolio, you can set the reference currency as the Nigerian Naira NGN and get an accurate price of Bitcoin and all 10, supported assets in your currency of choosing. Nigeria is currently not supported by Coinbase, meaning Nigerian users are unable to access the exchange.
However, anyone can use Coinbase Wallet which enables the sending and receiving of cryptocurrencies. You just won't be able to buy, sell, or convert from one crypto to another on Coinbase. Disclaimer: Buy Bitcoin Worldwide is not offering, promoting, or encouraging the purchase, sale, or trade of any security or commodity.
Buy Bitcoin Worldwide is for educational purposes only. Open a demo account. Deposit Standard 0. Deposit Retail 0. Read our in-depth Forex. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. You should consider whether you can afford to take the high risk of losing your money. Read our in-depth ThinkMarkets review See More. In addition to crude oil, Nigeria has become a leading exporter of liquefied natural gas LNG , which makes up The next largest sector of the Nigerian economy consists of agriculture, which employs 60 percent of the workforce and makes up 26 percent of GDP.
The agency was founded in and in became an essential arm of the Central Bank of Nigeria. When looking for an online broker to trade forex or CFDs with, make sure to choose a well-regulated broker that has a strong reputation with clients, since they should be suitable for entrusting a margin deposit with them. Online brokers generally offer several trading account for traders, including:. As far as trading Nigerian securities are concerned, the Nigerian Stock Exchange NSE offers their services to African enterprises and investors around the world.
To invest in the Nigerian equities market, investors can purchase securities directly from the primary market when new issues and offerings come out, or by trading in the listed securities on their secondary market platform. To buy securities in the primary or secondary markets, an investor must first appoint a stockbroker or dealer registered as a Dealing Member of the NSE to facilitate trading once the account is open.
CSCS , which is the licensed depository in the Nigerian capital market. To open a trading account in Nigeria, the prospective client will need to submit documents that meet regulatory know-your-client KYC requirements.
Domestic and foreign investors who wish to operate on the NSE can hold assets domiciled with the CSCS directly with their appointed dealer or through a licensed custodian appointed by them.
The country has vast deposits of natural resources such as iron ore, coal, niobium, bauxite, lead and tin, as well as natural gas and of course crude oil. Clearly, opportunities for doing business in Nigeria exist, but only for those with the patience and foresight to see their efforts come to fruition. Nigeria poses some daunting challenges to investors and traders, including the high cost of doing business and some serious risks to public safety due to military coups and internal struggles.
In recent times, Nigeria has been torn by a series of military coups and currently faces the threat of the Islamic-State-aligned Boko Haram.
The internal struggle between Boko Haram and indigenous and Christian populations has seen thousands of people die over the past few years, with Islamic law now imposed in several northern states. In June of , the Naira declined by 30 per cent against the U. In this guide, we have detailed the steps for trading Bitcoin as a CFD through reputed Forex brokers.
You can also trade other Cryptos like Ethreum and speculate on the market fluctuations in Cryptocurrencies. While selecting a Bitcoin trading broker, you must ensure that the broker offers a trading platform that is easy to use. They must also offer tools for analysis and Mobile apps for your Bitcoin trade. Trading Bitcoin involves purchasing at low price and sale at high. It is unlike investing wherein you hold Bitcoin for a long period. In trading, you attempt to forecast price movements through overall analysis of the market and particularly price graphs.
In this type of Bitcoin trade, you do not hold actual Bitcoin. You are only speculating on the price of BTC i. There a few globally regulated Brokers that offer Bitcoin trading. You can trade Bitcoin against fiat currency like the US Dollar i. These CFD Brokers usually also offer leverage. It is limited to or maximum in the case of Cryptos. Let us now briefly understand some of the common terminologies in Bitcoin trading:. The Bitcoin price refers to the price of the last trade held through a particular trading platform.
It is a crucial point of difference. This occurs as there is no single Bitcoin exchange globally. The price of Bitcoin in certain nations for instance can differ from its price in the Nigeria. This is as the major exchanges in these nations include diverse trades.
You will also sometimes see the terms low and high next to the price. They refer to the lowest and highest prices of Bitcoin in the past 24 hours. Here is an example of a Bitcoin Chart from Volume denotes the number of total Bitcoins traded in a given timeframe.
It is used by traders for identifying the significance of a trend, and market sentiment. Major trends are normally accompanied by large volumes of trade. Meanwhile, low volumes accompany weak trends. For instance, high volumes will accompany a healthy upward trend when price increases.
Volumes will be low when the price decreases. You may at times witness abrupt fluctuations in the price. Then, Market Experts advise to check the significance of the trading volume. This is to determine if it is only a minor correction or commencement of a reverse trend.
The price at which sellers are prepared for the sale of these pairs is the Ask price. Leverage is the multiplier at which you are allowed trading than permitted by your initial funds for trade. It is represented through a ratio. The examples of leverage ratios offered by CFD Brokers are , , or 1: Consider a trade transaction with the bid price as 0. It implies that the spread is 0.
The movement of the rate of exchange is measured via Pip. It is the unit to determine if you have incurred loss or profit on an exchange. The value of each pip unit corresponds to 0.