Bitcoin is on the list or wish list of almost every crypto trader, not excluding those living in Nigeria today.
In a country where crypto transactions have been regulated by the CBN, Bitcoins can be purchased via sites and apps. If you’ll need to trade Bitcoins through a mobile app, you can see the top 10 apps to sell bitcoins in Nigeria right now.
In this post, we’ll learn about the best sites to buy Bitcoins in Nigeria today. Before then, let’s know more about Bitcoin and its trading.
What You Need To Know About Bitcoins
Bitcoin is a decentralized digital currency, without a central bank or single administrator. It can be sent from user to user on the p2p bitcoin network without the need for intermediaries.
The cryptocurrency was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. The currency began use in 2009 when its implementation was released as open-source software.
As of today, Bitcoin is the largest and most popular cryptocurrency. Several other coins have been created using its model and are known as altcoins i.e. alternative currency.
The price of Bitcoin today is $43,771.15 USD with a 24-hour trading volume of $31,189,993,042 USD. It is ranked number 1 among thousands of crypto coins by CoinMarketCap.
BTC has a total market cap of $829,582,205,674 USD. It has a circulating supply of 18,952,718 BTC coins and a max. supply of 21,000,000 BTC coins.
Why Nigerians Buy Bitcoin
Bitcoin is no doubt the largest and most popular cryptocurrency till date. BTC is on almost every crypto investor’s/trader’s list.
There are however reasons Nigerians choose Bitcoin for their crypto investment. They are listed below.
- Bitcoin is used to hedge against inflation– The Naira to USD rate is high these days. Many therefore buy BTC on exchanges/platforms in Nigeria to hedge against the Nigerian Naira’s inflation. This can be seen in the number of Nigerian users on top exchanges for buying Bitcoins like Binance, Kraken, etc.
- Bitcoin is used as an investment asset– Many buy Bitcoins for investment. They hold the crypto asset as an investment and wait till its profitable before selling it.
- No financial institution is needed to facilitate BTC transaction– You can use p2p platforms for your Bitcoin trading. When you send money directly from one account to another, it is impossible for banks to know the purpose of the transaction. Nigerians have their money in BTC which is used for daily transactions. P2P trades are difficult for the regulating bodies to trace.
What You Need To Buy Bitcoin From Sites In Nigeria
For you to buy BTC in Nigeria, you’ll need a Bitcoin wallet as most Bitcoin exchanges require it. A Bitcoin wallet is just like a bank account where you can generate a BTC address.
This address serves as a bank account number, that can be given out to other users in order to receive and send Bitcoins.
You can open a Bitcoin wallet in Nigeria on top-rated trading platforms like Prestmit. It is very easy and fast to open a Bitcoin wallet for your crypto trading here.
Best Sites To Buy Bitcoin in Nigeria In 2022
The top platforms that offer great services and market-friendly prices are used to make the selection of the best sites for Bitcoin trading. The people who are heavily involved in bitcoin in Nigeria use them to buy and sell bitcoin in Nigeria.
Prestmit is a user-centric platform designed for users to trade, buy and sell digital assets as well as gift cards. The platform is notable for its presence in Africa’s most populous nation and fast-rising nation, i.e. Nigeria and Ghana. This makes the Nigerian Naira and Ghanaian cedis part of the payment options on the platform. You can buy Bitcoin on the Prestmit site with ease or you make use of the latest version of its app. The market-friendly prices here make it one of the best for Bitcoin trading in Nigeria today. USDT, Litecoin, and Dogecoin are also available here.
Paxful is one of the best places to buy and sell crypto assets. On the Paxful marketplace, buyers and sellers of bitcoin and other cryptocurrency interact by posting trade offers. There are multiple payment options you can use to buy bitcoin in Nigeria on Paxful. Some of the payment methods include Debit Card, PayPal, Perfect Money, SWIFT, Western Union, Moneygram and even Gift Cards. On Paxful, funds are held in escrow until both parties can confirm the transaction has been successful.
Remitano is a P2P bitcoin marketplace where you can buy and sell bitcoin easily and safely. Remitano has a simple interface coupled with top-notch online customer support that is available 24/7. You can easily buy bitcoin in Nigeria from Remitano as it uses a safe system called an escrow. When you buy bitcoin with Remitano, your funds are deposited in escrow till the bitcoin is in your wallet. You can also trade other cryptocurrencies on Remitano.
Binance is one of the leading bitcoin trading platforms in the world, you can buy over 200 crypto coins on Binance. The platform accepts users from around the world and has received favorable reviews from the crypto community. Binance offers one of the most competitive rates around. It is a great option if you want to buy bitcoin in Nigeria. It’s an awesome platform that is friendly for beginners. You can easily convert your Naira to bitcoin and bitcoin to Naira easily on Binance. With Binance you can buy bitcoin in Nigeria with your debit card or via bank transfer.
NairaEx is the biggest local bitcoin exchange platform from Nigeria. NairaEx is a secure and reliable bitcoin exchange for Nigerians who want to buy bitcoin in Nigeria. With Nairaex, you can easily create buy and sell orders for Bitcoin quickly. The payment options Nairaex supports are Bank Transfer, Bank deposit, and ATM transfer.
Kraken is one of the biggest cryptocurrency exchanges in the world with millions of active users. Based in the US, Kraken is considered one of the safest sites you can use to buy Bitcoin in Nigeria. Kraken provides cryptography-verified proof of reserve audits. These audits verify the total amount of cryptocurrency held by Kraken. Payment options available on Kraken are Debit card, Electronic Funds Transfer, Bank Transfer, Wire Transfer. Kraken is well-capitalized and very safe to use to buy bitcoin in Nigeria.
LocalBitcoins is a decentralized cryptocurrency exchange that facilitates P2P bitcoin sales. Users of LocalBitcoins can list their own buy/sell bitcoin advertisements with the payment option that they prefer. Thousands of Nigerians use LocalBitcoins for buying and selling Bitcoin. All you have to do to buy bitcoin in Nigeria with LocalBitcoins is browse the platform for bitcoin trade advertisements in your location and pick one with the payment option you prefer. Nigerian bitcoin traders on LocalBitcoins usually prefer bank transfer as their payment option.
Also Read– Why Prestmit is the Best Digital Platform