How to Buy Bitcoin in Nigeria
We found 6 trusted online cryptocurrency exchanges operating in Nigeria including NairaEx, Binance, and Kraken.
We found 6 trusted online cryptocurrency exchanges operating in Nigeria including NairaEx, Binance, and Kraken.
NairaEx is the most popular Bitcoin exchange in Nigeria with 130,000 users
Binance allows buying and selling Bitcoin with 4 forms of payment
Kraken accepts users and payments from 192 countries
Ease of Use
Medium
Fees
Very High
Verification
1 Day
Reputation
Trusted
NairaEx provides secure and reliable Bitcoin exchange services for Nigerians.
Buy Bitcoin with NairaEx
NairaEx provides secure and reliable Bitcoin exchange services for Nigerians. The platform is strictly limited to Nigerians and the Nigerian Naira.
NairaEX claims that all cryptocurrency assets are stored securely offline with a leading wallet custodian.
Ease of Use
Medium
Fees
Low
Verification
1 Day
Reputation
Trusted
Within 8 months of launching in July 2017, Binance quickly skyrocketed into the world's largest cryptocurrency exchange by trading volume, processing more than $1 billion on a daily basis.
Buy Bitcoin with Binance
Within 8 months of launching in July 2017, Binance quickly skyrocketed into the world's largest cryptocurrency exchange by trading volume, processing more than $1 billion on a daily basis. It’s rise to popularity can be attributed to the impressive number of cryptocurrencies they offer, professional attitude, friendly and transparent CEO, and low trading fees.
Binance is considered a safe cryptocurrency exchange. Binance provides 2-factor authentication and offers both multi signature wallets and cold storage options.
Ease of Use
Easy
Fees
Average
Verification
2-3 Days
Reputation
Trusted
With millions of active users, an international market, and strategic investors on board, Kraken, joins Coinbase and Binance to become the big three cryptocurrency exchanges in the global market.
Buy Bitcoin with Kraken
With millions of active users, an international market, and strategic investors on board, Kraken, joins Coinbase and Binance to become the big three cryptocurrency exchanges in the global market. Kraken provides cryptocurrency to fiat trading and provides price information to Bloomberg Terminal. In February 2019, Kraken announced that it had raised $100 million in a direct offering to its largest customers at a $4 billion valuation.
Kraken is considered one of the safest bitcoin exchanges around. The platform provides cryptography-verified proof of reserve audits. These audits verify the total amount of cryptocurrency held by Kraken. The company appears to be well-capitalized and very safe to use.
After buying bitcoin from an exchange, it's important to withdraw to your own non-custodial wallet for security, privacy, and to have full control over your bitcoin.
ZenGo is an easy iOS/Android Bitcoin & cryptocurrency wallet. Getting started takes 20 seconds.
Electrum is a popular desktop Bitcoin wallet which is compatible with Windows, Mac, and Linux
Ledger Nano S is a secure hardware wallet that connects to your computer via USB
Ease of Use
Medium
Fees
Average
Verification
2-3 Days
Reputation
Trusted
Previously known as BitX, Luno was founded in 2013 in South Africa.
Buy Bitcoin with Luno
Previously known as BitX, Luno was founded in 2013 in South Africa. Luno serves upcoming markets that lack local cryptocurrency exchanges and as such has a strong presence in presence in South Africa, Singapore, Nigeria, Malaysia, and Indonesia.
Luno claims that the majority of customer Bitcoin funds are kept in what we call “deep freeze” storage. These are multi-signature wallets, with private keys stored in different bank vaults. All web services and communication happens over SSL-secured (https) channels. Wallets are stored using PGP encryption. No individual has direct access to customer Bitcoin funds and regular auditing — both financial and security auditing — ensures that funds are always safe and fully accounted for.
Ease of Use
Hard
Fees
Average
Verification
1-2 Days
Reputation
Trusted
OKCoin is a Chinese-based exchange that was founded in 2013 and is currently one of the more dominant platforms for Bitcoin trading.
Buy Bitcoin with OkCoin
OKCoin is a Chinese-based exchange that was founded in 2013 and is currently one of the more dominant platforms for Bitcoin trading. OKCoin primarily services users from China and the Asian markets but accepts traders from all over the world.
OKCoin integrates bank-level SSL security encryption. In addition, cold storage for the majority of their cryptocurrency, GSLB and distributed servers, and real-time account monitoring of deposits and withdrawals.
Ease of Use
Easy
Fees
Average
Verification
1 Day
Reputation
Trusted
Changelly allows one to exchange one cryptocurrency for another and also buy using a bank card.
Buy Bitcoin with Changelly
Changelly allows one to exchange one cryptocurrency for another and also buy using a bank card. All this is done through a convenient and clean user-interface and a quick registration via email or social media account. Changelly’s conversion mechanism is integrated into some of the biggest cryptocurrency platforms such as Poloniex, Bittrex, and Binance. There are no geographical restrictions to the service that Changelly provides, so it can be accessed from anywhere in the world.
Changelly offers two-factor authentication and an HTTPS security protocol. No user funds are stored by Changelly as all coins sent are processed to be exchanged and transferred to user wallets.
There are 6 trusted exchanges operating in Nigeria with the most popular being NairaEx, Binance, and Kraken.
You can review each of these exchanges and find best exchange that works for you. Bitrawr ranks exchanges in Nigeria based on fees, users, and security while giving placement preference to exchanges located in Nigeria or specifically catering to users in Nigeria.
Yes, you can buy bitcoin safely and anonymously by using P2P (Peer to peer) exchanges like Bisq, Paxful, LocalSwap and LocalBitcoins.
Most of the exchanges operating in Nigeria have debit/credit card payment options available. Remember that this requires completing KYC.
No! For complete custody of your Bitcoin or other cryptocurrencies it is recommended to store them in a hardware wallet as it keeps private keys safe and entirely offline.
Bitcoin ATMs are an excellent way to buy bitcoin using cash and offer little to no requirements for KYC. ATMs are commonly located inside of convenience stores, shops, restaurants, malls or airports. Find one near you using our ATM map.
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