Best Crypto Exchanges in Nigeria For 2024

Introduction

Bitcoin and other cryptocurrencies have become the latest economic trend all over the world, and Nigerians are gearing up to adopt cryptocurrencies and make them a part of the mainstream economy. The mass adoption of cryptos in Nigeria has led to the establishment of several trusted cryptocurrency exchanges in the country.

Read the guide on best crypto exchanges in Nigeria and register with any of the top Nigeria crypto exchange platforms mentioned in this article if you want to buy cryptos and other assets.

Key Takeaways

  • Get familiar with the best crypto exchanges in Nigeria.
  • Acquire knowledge about special features and services that are available on each exchange.
  • Identify which platform works best for your cryptocurrency needs.

Best Crypto Trading Platforms Nigeria For 2024

TOP CRYPTO EXCHANGES IN NIGERIA BEST FOR
Paxful User-Friendly Interface
Luno Low Transaction Fees
Remitano Easy-to-use Application
Quidax Best Cryptocurrency Exchange
Paybis Best Security Policy
Changelly Most Popular Cryptocurrency Exchange

List of Crypto Exchanges in Nigeria

1. Paxful

paxful - User-Friendly Interface
Source: paxful.com

Paxful is the best crypto exchange in Nigeria, with over three million users in the country. The system offers an impressive 20,000 transactions per day, which contributes to a trustworthy experience for the users. Our Paxful review focuses on its unmatched customer service and user-friendly properties. 

Why We Chose It?

Paxful is recognized because it offers clients diverse payment methods and ensures exceptional security measures. The platform offers a wide range of trading options, including different currencies and around-the-clock customer support to cater to diverse user needs and provide a smooth trading process.

Key Features

  • Escrow protection facilitates the securing of such transactions. 
  • A community-driven marketplace enables one-to-one user engagement. 
  • The simple integration with all the major wallets makes asset transfer an easy process. 
  • Introduce educational materials for new traders to learn how to trade. 
  • Provides a built-in mechanism of dispute resolution.
Pros Cons
Paxful offers the lowest spreads (ranging from 0% to 1%), which greatly influences the affordability of buying Bitcoin in Nigeria As with any other P2P platform, there may be fraudsters who will try to cheat you despite the security measures.
Paxful is widely known for its trusted peer-to-peer over-the-counter trading platform, allowing users to buy Bitcoins directly Bitcoin is the only cryptocurrency that suits Paxful well, and there are more options for others in bigger exchanges
The platform supports numerous payment methods, including bank cards, bank transfers, and about 180 digital wallets, making the service is more available to users.

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2. Luno

Launched in 2013, Luno is used by over 7 million people worldwide. By offering crypto trade in major currencies like Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), and USD Coin (USDC), Luno supports a broad range of countries. However, one should remember that Luno is not regulated in the UK and that investing in crypto is not a risk-free undertaking as crypto assets are not regulated. Read this thorough Luno review to learn more about the features and user experience of the platform.

Luno - Best Crypto exchange
source: www.luno.com

Why We Chose It?

Luno distinguishes itself by its comprehensive security system and user-friendly interface, which is equally convenient for novice and experienced traders. The exchange stands out for its all-encompassing educational resources, which inform users about market trends and allow them to make wise decisions. Furthermore, Luno is integrated with CCData, which optimizes the platform’s analytical abilities to deliver excellent services.

Key Features

  • Ensure transactions are executed without any delays.
  • Secure and simple crypto wallet that can be used for crypto storage.
  • Equips automated trading and advanced data analytics.
  • Get informed about the immediate changes in prices.
  • Comprehensive investment educational materials on cryptocurrency markets.
Pros Cons
The competitive pricing model provides trading costs at a reasonable price Less altcoin options when compared to other exchanges
It services a host of nations, increasing the user base Not regulated in certain significant markets, such as the UK
Counting several major cryptocurrencies in its trades Reported cases of delays during the busiest times

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3. Remitano

Remitano has more than 15 million active users from over 50 countries worldwide. Celebrating a decade, Remitano, the platform has introduced an easy and secure platform for buying and selling Bitcoin and other cryptocurrencies using various payment options like bank accounts, credit cards, and gift cards. It is among the best crypto exchanges in Nigeria at the moment.

Remitano - Best Crypto Exchange in Nigeria
Source: remitano.com

Why We Chose It?

Remitano offers 24/7 customer support and has an amazing 98% transaction completion rate within minutes. Its easy-to-use interface accommodates both beginners and experienced traders as they trade in a secure and stable environment. This attitude of excellence and customer satisfaction makes this brand a number one in the region.

Key Features

  • Provide the highest level of security to keep transactions safe.
  • Provides quick purchases and sales of cryptocurrency.
  • A wallet that supports other digital currencies than Bitcoin.
  • Fosters direct transactions between users without middlemen.
Pros Cons
Customers benefit from free cross-border transactions between peers. It is a significant saving Not provided a training account for beginners
The P2P structure gives the lowest rates on crypto purchases and sales Not having derivative trading but having partnerships for that need
Provides a variety of local payment options to make the shopping experience more convenient for the user
Active participation of both the buyers and sellers enhances the level of market flexibility
Integrated wallet for secure storage and simple management of cryptocurrencies
Stakers can reap returns on staking eligible proof-of-stake coins without having to move them from their wallets

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4. Quidax

Quidax was launched back in 2018 and is headquartered in Lagos. It serves over 50 countries, including Ghana, and has more than 1 million customers. The firm has a line of eight innovative products and boasts a team of over a hundred members. They simplify the crypto transaction in local currencies, including the Nigerian Naira, making digital currencies like Bitcoin accessible to a broad user base.

Quidax - Secure Crypto Exchange in Nigeria
Source: www.quidax.com

Why We Chose It?

The main reason for choosing Quidax to empower users to have financial independence through novel trading solutions is that it stands out. It stands out by offering a smoother onboarding experience, especially for new users. This comes especially handy for emerging markets because of its focus on inclusivity and accessibility. The platform’s capability to keep up with the ever-changing market demands and trends means it remains at the top of the crypto exchange market.

Key Features

  • Simple, easy-to-navigate interface for both novice and experienced traders.
  • Makes mobile devices a convenient platform for trading.
  • Provides for a variety of cryptocurrencies.
  • The makers get a low fee, and the takers get their standard rate.
  • Emphasizes solid security parameters for users to be safe.
  • Provides APIs for businesses with liquidity needs.
Pros Cons
Provides its token, which in turn increases user engagement and provides special member privileges Access is limited to chosen countries, and consequently, the scope of global coverage is reduced
Offers 24-hour customer support to address issues and make sure that they are being settled promptly Fee system is a complicated process and can be difficult for newcomers to understand.
Maintains a firm commitment to established local regulations, as a result of which the users are provided with a secure and compliant platform for trading The delayed availability of platform updates can affect the trading process sometimes
Facilitates high transaction volume but smoothly and effectively, providing liquidity and stability

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5. Paybis

It is a virtual currency exchange that provides users with a multi-currency wallet and a cryptocurrency exchange platform for global transactions. It is in over 180 countries, with offices in Warsaw and Riga. Paybis complies with FinCEN, FINTRAC, and EU, UK, and US AM/KYC rules, making it the leading crypto exchange in Nigeria. Check out our in-depth Paybis review, covering its platform features, trading fees, security measures, and more.

Paybis - Top Rated Crypto Exchange Nigeria

Why We Chose It?

The Paybis cryptocurrency exchange for Nigeria is unrivalled because it has a broad international reach, follows international regulations, and supports a wide variety of cryptocurrencies and fiat currencies. Its user-friendly platform, which is secure for transactions, makes it the best choice for investors in Nigeria who want to trade with digital assets.

Key Features

  • Users will be able to access their funds within a short time, thus improving the transaction speed.
  • Paybis is always there for a customer, resolving their problems and giving feedback in the shortest possible time.
  • Platform fees are minimal for the transactions, ensuring users get the maximum profit.
  • Paybis performs quick and thorough security verification, thus protecting the user’s assets and information.
Pros Cons
It enlists 89 cryptocurrencies and 48 fiat currencies, including dominant currencies such as AUD, CAD, EUR, and USD Unlike some other exchanges, a limited amount of currencies is one of our features
Convenient sign-up process that is simple and quick Doesn’t offer the possibility of exchanging different cryptocurrencies
Includes all payment types for buying and selling digital money with regular cash They are only allowed to sell Bitcoin
Supports many popular cryptocurrencies Lacks an integrated wallet
Transparent pricing structure

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6. Changelly

Since 2015, Changelly has been the best crypto trading platform in Nigeria, with a client base worldwide. Their monthly user base has reached more than 2.6 million; they concentrate on providing instant crypto-to-crypto swaps and purchases. The cornerstone of their dedication to quality is built on partnerships with leading firms in the sector, which assures a hassle-free trading process for everyone.

Changelly - Crypto Exchanges Nigeria
Source: changelly.com

Why We Chose It?

Changelly is among the cryptocurrency exchanges in Nigeria known for its ease of use and speed of transactions. Emphasizing accessibility and security provides a smooth trading experience for Nigerian users and others. The high reputation of a given crypto exchange for reliability and efficiency makes it the first choice for those who want to enter the market or expand their portfolio.

Key Features

  • Supports over 700 cryptocurrencies.
  • User-friendly and easy-to-understand interface.
  • Visa, MasterCard, wire transfer, and Apple Pay are accepted.
  • Employs 2-factor authentication and HTTPS protocols.
Pros Cons
Provides 24/7 customer service in multiple languages Fiat-to-crypto transactions can attract fees of up to 7%
Strong security protocols such as cold storage and 2FA Does not contain instruments like leverage and derivatives
The low trading fees of approximately 0. 25% for crypto transactions It does not allow for direct USD deposits or withdrawals

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Comparing The Best Crypto Exchanges in Nigeria

Crypto Exchanges Available Coins Fees Minimum Deposit
Paxful Crypto Exchange Bitcoin, Tether, Ethereum, USD Coin Maker Fee 0.00%
Taker Fee 1.00%
$10
Luno Crypto Exchange Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ripple (XRP), Aave and 13 more 30-day volume
Maker fee: 0.35%
Taker fee: 0.60%
$ 1.00
Remitano Crypto Exchange Bitcoin BTC, Ethereum ETH, Tether USDT, Ripple XRP 1% 0.0005 BTC
Quidax Crypto Exchange Bitcoin, Litecoin, Ethereum, USDT, XRP, Tron, Bitcoin Cash, DASH, Binance Coin, Dogecoin, Matic Token, Shiba Inu, Axie Infinity, Stellar, Chainlink, Aave, Filecoin, Harmony, Cake, Cardano, Tezos, Conflux, Solana, Floki Inu, Polka Dot Maker fee 0.1%
Taker Fee 0.3%
$10
Paybis Crypto Exchange Bitcoin (BTC), Tether (USDT), Ripple (XRP), Ethereum (ETH), Binance Coin (BNB), Bitcoin Cash (BCH), Litecoin (LTC), Polkadot (DOT) 2.49% $5
Changelly Crypto Exchange Bitcoin, Ethereum, Monero, Zcash, Dash, Litecoin, Dogecoin Edgeless, etc. ≥ 0 BTC
Maker Fee 0.1%
Taker Fee 0.1%
0.1 BTC

Disclaimer: The fee structure may vary based on trading volume. Rates are subject to change and can fluctuate according to the market conditions.

Cryptocurrency Law and Regulations in Nigeria

Nigeria’s approach to cryptocurrency regulation is in development. At first, the Central Bank of Nigeria (CBN) barred financial institutions from engaging with cryptocurrencies because of risks such as money laundering. Nevertheless, the CBN’s recent guidelines on regulated VASP operations have strengthened transaction security and transparency.

Our Methodology

When it comes to designing our platform, we emphasize a combination of advanced functions and ease of use to meet the needs of both beginners and experienced traders.

  • Basic and advanced trading features.
  • Speed of Execution
  • Educational Resources
  • Customization Options
  • Fee Structure
  • Safety and Security Measures
  • User Feedback
  • Customer Support Services
  • Ease of Deposit and Withdrawal
  • Range of Products
  • Real-Time and Live Market Feeds
  • Platform Availability
  • Usability of the Platform (Desktop and Mobile)

Conclusion About Crypto Exchanges in Nigeria

In conclusion, the crypto exchanges in Nigeria offer a wide variety of crypto products along with strong security measures and good customer support. Such platforms guarantee fast transaction processing, provide extensive educational materials, and make the interface easy to use for both desktop and mobile. These complex features make them very suitable for trading in the volatile cryptocurrency market.

FAQs on Top Crypto Exchanges in Nigeria

Is cryptocurrency trading legal in Nigeria?

In February 2021, the Nigerian Central Bank declared a crackdown on cryptocurrencies, banning debit or credit card use for conducting crypto transactions. Despite the crypto crackdown, Nigerians continue to trade Bitcoin. Nigeria’s legal cryptocurrency trading platforms are Kraken, Remitano, and more.

Can we buy cryptocurrency in Nigeria?

The top trusted, and one of Nigeria’s most popular crypto exchanges serves as a digital currencies market forum for crypto assets exchange to fiat money. These exchanges allow traders to trade for buying and selling cryptocurrencies like Bitcoin with fiat money or altcoins.

Which bank card can I use to buy crypto in Nigeria?

In Nigeria, you can use Visa and MasterCard credit or debit cards issued by major banks to buy cryptocurrency on top exchanges. It is vital to always check with your bank that it supports crypto-related platform transactions to avoid any hassle.

Disclaimer: This page does not solicit or recommend investments, nor does it provide trading or financial advice. Before investing in cryptocurrencies or engaging in securities trading, you should conduct thorough due diligence, including consultation with a certified financial advisor. We accept no liability for any financial losses incurred.

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