20 Best BTC Exchange to Buy Bitcoin in Nigeria (2021 Review)

With this exceptional coin, one is regarded digitally and physically made, especially in a country like Nigeria. With the alarming rates of poverty and unemployment, especially amongst the youth, Bitcoin has found a place in Nigeria.

Years ago, many people had looked past the flimsy worth and took the bold to invest in Bitcoins. These people, a lot of which are now millionaires today, all started with a Bitcoin exchange platform.

As a Nigerian Bitcoin exchange body, we have users and newcomers refer to our articles on many topics and exchange them. We do our best to answer your questions and serve you with updated and precise information.

With a simple exchange, you buy and sell bitcoins as well as swap other currencies for them. After which, storing them shouldn't be a problem, that is, if you had read our last article. But do you know any of the best Bitcoin exchanges in Nigeria?

Keep reading to find out.

Where to Buy Bitcoin in Nigeria? 20 Best Places

The following are the various notable exchanges in the Nigeria.

1. LUNO

If you're into some of the more popular brands, Luno could be a fit for you. Set up in 2013, the name" Luno" had been rebranded from "BitX." Since then, Luno has been serving as one of the primary exchanges in many major nations, Nigeria. Some even consider it to be among the best Bitcoin exchanges in Nigeria.

As a user of this exchange provider, you stand to gain the following;

• Multiple fiat support.
• Affordable Bitcoin rates.

On the downside, verifying an account on Luno has been reported to take quite some time.

2. QUIDAX

Launched in 2018, Quidax is one of the more popular and ever-growing Nigerian Bitcoin exchanges. It allows for exchange as well as storage with its built-in web wallet system. Users can exchange by first analyzing various charts and options or using their instant buy/sell feature.

The major advantages when it comes to Quidax include;

• Safety.
• Bitcoins can be stored too.

However, some pitfalls faced by users may comprise of the following;

• Commission rates apply.
• Limited fiat currencies are available.

3. REMITANO

Remitano, what started as a P2P exchange body, is now reformed to accommodate a whole plethora of features. With Nigerians being top market clientele, "Remitano Nigeria" is one of the most searched keywords in the country meaning without a doubt, this might be among the best Bitcoin exchanges in Nigeria. It is not just a trade body but Remitano doubles as a secure wallet as well.

Once you decide to patronize Remitano, you will be met with the various benefits;

• Bitcoins are stored likewise exchanged.
• Referral bonuses apply.
• Quick and easy to use.
  • Protected exchange and payment.
• Available on mobile.
• Multiple cryptocurrency support.

However, many are not fans of commission rates and Remitano does charge those.

4. REDEEM

This body is well known for being one of the safest Nigerian Bitcoin exchanges. It is a body that operates buying and selling through externally issued gift cards. These could include Amazon gift cards, Xbox, Wayfair, Uber, iTunes, etc. The system also has an added wallet feature.

The benefits of exchanging your Bitcoins incorporate;

• Bitcoins can be stored as well as traded.
• Multiple cryptocurrency support.
• Referral bonuses apply.
• It is safe and reliable.

Many users do not do well with commission rates applied by Redeem.

5. NAIRAEX

The benefits of exchanging your Bitcoins incorporate;
With an already great reputation amongst Nigerians, we present the NairaEx exchange. It is among the popular names in Nigerian Bitcoin exchange providers. It houses over a hundred thousand users consisting of only Nigerians. With its easy-to-use interphase, it earned a place on our list of best Bitcoin exchanges in Nigeria.

Users gain the following when exchanging with NairaEx;

• Easy to use.
• No expenses found.
• It is a secure trade software.

The downsides to NairaEx conclude;

• The high cost of Bitcoins.
• Limited fiat currency support.

6. LOCALBITCOINS

As a P2P exchange platform, LocalBitcoins allows trading amongst users. Users can advertise, interact with prospects as well as close deals with all payments completed all on LocalBitcoins. The idea of a social investment body is one of the top reasons, LocalBitcoins would be a great exchange for you.

LocalBitcoins provide the following benefits to its users;

• Location-friendly.
• Numerous currency variants.
• Numerous payment variants.
• Account verification is quick and easy.
• All forms of operation are protected from third parties.

However, the lack of fixed commission rates has some users still looking for other exchanges.

7. BUYCOINS

Set up in 2017, Buy coins is another Nigerian-based cryptocurrency exchange body. It serves users with a P2P social investment system where you can buy and sell amongst other users. They offer a secure interspace for user information and interactions by hosting on reliable servers. The framework also permits a built-in wallet system. Here security is assured, an important factor for some of the best Bitcoin exchanges in Nigeria.

A few of the advantages of being a Buy coins user comprise of the following;

• It is a secure exchange body.
• Bitcoins can be stored.
• Live chat.
• Referral bonuses apply

On the other hand, if you are the type to delve into different currencies, Buycoins only supports a limited number of them.

8. BLOCKVILA

Under Nyxel Integrated services, BlockVila operates as a Nigerian-based e-currency body. It specializes purely in the exchange and storage of digital currencies and assets— Bitcoin inclusive. Being a Nigerian body, its features are specially designed to serve just Nigerians. This has a lot of advantages, some of which will be listed.

As a body for Nigerians and by Nigerians, Blockvila has the following perks to offer its users;

• Payment is quick and easy.
• Multiple cryptocurrency support.
• Bitcoins can be stored as well as traded.

However being a local based exchange, there are still some drawbacks to this body;

• Commission fees apply.
• Restricted wallet currencies.

9. KRAKEN

Set up in 2011, this Bitcoin exchange body has since grown to be part of the best Bitcoin exchange in Nigerian. It is also one of the most widely used. It is the largest Exchange body in Europe and amongst the largest globally, with over four million users. Did you also know that they provide cryptocurrency and fiat rates and other information to Bloomberg?

Now you do

As a Kraken user, you stand to gain the following;

• It is safe to use.
• Numerous fiat and cryptocurrency support.
• Easy to use

However, some difficulties you may face could be;

• Varying commission rates.
• Account verification takes a long time.

10. CHANGELLY

A great option for those who prefer to exchange via bank cards and not payment software. All you need to start up is your email address or social media. The rest is left for this Nigerian Bitcoin exchange body. Simple!

Some of the advantages of this exchange body are as follows;

• Easy to use.
• Location is not a barrier.
• It is a safe exchange.
• Affordable Bitcoin rates.
• Quick and easy account verification.

Furthermore, deposit fees lack a fixed value. This causes some inconveniences with users and these charged variables.

11. eTORO

A modern-day trade platform that allows the exchange of assets far beyond cryptocurrencies. It graces its users with some of the finest features, one unique one being 'CopyTrading.' This gives users access to view the platform's most reputed traders' trading trends— a great advantage, especially for beginners. This user-friendly feature makes some Nigerians refer to eToro as one of Nigeria's best Bitcoin exchanges.

The platform provides its users with the following benefits as well;

• Affordable Bitcoin rates.
• Beginner-friendly elements.
• Multiple fiat support.
• Easy to use

Although being a great exchange, many traders steer clear due to the withdrawal rates applied.

!2. YELLOW CARD

Sponsored by Binance, Yellow card is a Nigerian Bitcoin exchange platform set up in 2016. It was launched to get more people involved in crypto-trading and, it provides some great features for you to do just that. The body had even partnered with Baxi Box, a payment body enabling easier account top-up.

For any Yellow Card user, you may find the following advantages;

• Transactions are quick and easy.
• Referral bonuses apply.
• It is a safe exchange.
• It is available on mobile.
• Easy to use.
• Bitcoins can be stored.

Difficulties experienced are likely due to the transaction rates they charge.

13. COIN DIRECT

This is an exchange body granting users the ability to trade by swapping as well as via P2P. Set up in 2017, this exchange body does not fail to provide its user with an added wallet system. Users can run transactions and have a wide variety of both Fiat and cryptocurrency to support.

This multiple currency system eradicates restrictions thereby making the possibilities for users free and endless. These provided privileges is why most consider Coin Direct as undoubtedly a part of the best Bitcoin exchange in Nigeria.

A summary of the advantages of exchanging with Coin Direct are;

• Trading is made convenient.
• Numerous fiat and cryptocurrency support.
• It is available on mobile.

Likely downsides comprise of the trade fees applied to this body.

14. BITMEX

This Asian-based Bitcoin exchange is a P2P software. It provides its users with all they need to interact and sell Bitcoins amongst themselves.

A few advantages of Bitmex conclude;

• Social investment software.
• Affordable Bitcoin rates.

Likely difficulties are associated with the following;

• No fiat support.
• Only Bitcoins are obtainable.
• Software is hard to operate.
• Account verification takes a long time.
• Varying trading rates.

15. OKCOIN

Set up in 2013, OkCoin is a Chinese based Bitcoin exchange. Currently one of the most prominent especially amongst Asian traders. But with Nigerians, it also proves to be one amongst the best Bitcoin exchanges in Nigeria.

Users enjoy OkCoin for the following reasons;

• Affordable Bitcoin rates.
• Multiple fiat and cryptocurrency support.
• It is a secure exchange.

On the other hand, some downsides to OkCoin are as follows;

• Software operation requires some level of expertise.
• Commission rates applied

16. BINANCE

Set up in 2017, Binance is a well known Chinese based Bitcoin exchange body. The body does not just serve as an exchange but they operate a wallet for storage as well. Users can exchange amongst themselves as well on Binance.

The following of the advantages of exchanging with Binance;

• Multiple fiat currency support.
• Multiple cryptocurrency support.

As for the reasons you may want to skip Binance as an option;

• Commission rates apply.
• Limited withdrawals.

17. PAXFUL

This is another exchange that works as P2P software. This means that buyers and sellers interact and trade amongst themselves. Sellers are even able to broadcast adverts in the form of offers. This provided platform for user marketing is one of the factors that places Paxful as one of the best Bitcoin exchanges in Nigeria.

Users stand to gain the following from Paxful;

• Affordable Bitcoin rates.
• The system is well protected.
• Multiple fiat currency support.
• Easy to use.
• Various payment methods apply.

However, as a seller, you will have to pay Paxful a percentage of your income.

18. BITPESA

Made to primarily serve regions in Africa, BitPesa is a great option for a Nigerian Bitcoin exchange. It aims at easing to and fro several African based markets and businesses likewise the rest of the world. Launched in 2013, it has since thrived in eliminating the stresses of time and reliability with engagements of advanced blockchain technology.

The advantages of exchanging with BitPesa include;

• Transactions are quick.
• Easy to use.

However, some users enjoy free use of the platform, commissions apply to BitPesa.

19. PAYBIS

This UK-based exchange provider is one deal solely with more popular currencies, Bitcoins included. Its safe and secure software provides users with a protected means of exchange any time, anywhere.

You stand to gain the following with Paybis;

• Instant cashouts.
• User-friendly.
• Location-friendly.

Although being a great body, the lack of fixed trading rates has some users skeptical of exchanging.

20. CEX.io

Lastly, we have the CEX.io Nigerian Bitcoin exchange body. Whether you are a beginner or an expert Bitcoin trader, CEX.io provides a quick and easy interphase for your needs. This UK-based body was launched in 2013, making it an older and reliable exchange for your Bitcoins.

A summary of a few of the advantages are as follows;

• Multiple deposit options.
• Great user experience.

That being said, these are the 20 best Bitcoin exchanges to buy Bitcoin in Nigeria. For all it's worth, you must not forget that no exchange is as reliable for securing Bitcoins as a Bitcoin wallet. Whether an Exchange is among the best Bitcoin exchange in Nigeria, you must always seek refuge in a secure Bitcoin wallet.

If you have any problems with understanding the concept of Bitcoin wallets and which one would most suit you, you best refer to our previous article. There, you will be guided on the use and the very best wallets as of current.