The internet is awash with lots of Bitcoin Exchange website and merchants. Variety is the spice of life huh? Not when there are too many scam and phishing sites out there. Wait a minute, your hard earned money is involved right? You certainly cannot be too careful.
Don’t be weary, There are a lot more legit was to buy bitcoin than the scams after all. Good news right?
This article pretty much explain how to buy Bitcoin in Nigeria at the best possible rate using various payment methods and most importantly, in real time. Yes, some exchanges delay the hell out of your time even with your money. Are they legit? Yes. Are they good for business? No. Bitcoin value is a function of time. Whoever wastes your time, wastes your money. Yes.
When it comes to cryptocurrency exchanges (or pretty much anything) there’s no one size fits all. Depending on your needs, the best Nigerian Bitcoin exchange for one person may not be the best for another.
Before buying Bitcoin it is important to have a Bitcoin wallet. To learn more about Bitcoin wallets and how to create one, Checkout.
Best Bitcoin Exchanges in Nigeria
Luno is one of the most popular crypto exchanges for most beginner bitcoiners in Nigeria.
Luno offers bank transfers and credit card deposits. While bank transfers are free or near-free, credit card deposits certainly incur a fee. Both deposit and withdrawal of bitcoin attract a fee.
The exchange is reputable as it has garnered trust over the years. It is however not the best for everyday bitcoin user who would loose over $5 on every deposit or withdrawal and even more higher credit card deposits.
Another brand that is very famous in Nigeria to buy and sell Bitcoin is 360Exchange Nigeria. This service is known all over the country having been into business for over six years. In addition to bitcoin, they redeem virtually all types of giftcards and buy all e-payments including, itunes, amazon, steam, walmart, Visa, Home Depot, Google, Amex, Nike, Offgamer, Saks, Nordstrom, Sephora, Visa, Vanilla, Macy, Sephora, Ebay, Zelle, Cashapp, Venmo, Skrill, Payoneer, Netteller, Perfectmoney, Paypal, and it helps connect Bitcoin buyers and sellers. One of the most common services offered is the trading of Bitcoin via cash.
Localbitcoins allows for the in-person transaction of Bitcoin using an escrow service. This makes it one of the most private and quick ways to buy or sell Bitcoin around the world.
When using LocalBitcoins, it is very important to be wary of scammers, follow the rules, and accept that sellers will include premiums on the price of Bitcoin for their services.