Nigerians sometimes find it challenging to buy and sell cryptocurrencies. However, some cryptocurrency exchange platforms are easy to use in Nigeria. In this article, we will list out the best cryptocurrency trading apps in Nigeria. Despite the CBN ban, you can use some of the apps on this list to even sell cryptocurrency and get your pay directly to your Nigerian bank account.
The apps we will talk about are beginner-friendly and easy to use. They have features that can even buy crypto with the Nigerian Naira. If you missed it, we also talked about the top 5 best cryptocurrencies to buy in Nigeria.
I have been trading cryptocurrency for three years, and below are some apps that I have used over time. Some of them are not even competing globally, but they are making crypto trading easy for Nigerians.
Top 5 Best Cryptocurrency Trading Apps in Nigeria
1. Luno
Luno is one of the most used crypto trading apps in Nigeria. It is easy to use, and many crypto traders rely on the app. However, it has some downsides because it has a limited number of cryptocurrencies available for trading. Still, the latest feature that allows users to get instant cash transfers to their local banks in Nigeria is a welcome development.
The interface is excellent, and the transaction fee is low. If you are a beginner, I highly recommend trying out Luno before trying more extensive exchanges like Binance. New users can learn how to buy and hold their crypto assets in the Luno wallet. They also have some educational resources that can be used to understand more about cryptocurrencies and blockchain technology.
Users can also earn interest if they save them in a cryptocurrency savings wallet on Luno. The platform is secure, and it’s the number one for many Nigerians.
Pros
- Beginner Friendly
- Low transaction fees
- Earn passive income
Cons
- A limited number of cryptocurrencies
- Available in select countries
2. Roqqu
A Nigerian Uchenna Nnodum created Roqqu, and they have over 500 thousand Nigerian customers trading cryptocurrency on the platform every day. They have a limited number of cryptocurrencies listed.
The app has a beginner-friendly interface, and I recommend you try it out if you are new to crypto. Registration is easy, and you can complete it in under five minutes. You can even use Roqqu to buy airtime with your unique crypto savings. Users also can transfer money to their Roqqu wallet.
However, it would help if you were careful trading on the app because there are reports that some transactions on the platform are not completed. Although, most of the time, you can sell and get your money straight to your Nigerian Bank account.
Pros
- Friendly Interface
- Easy to Use
- Mobile app
Cons
- Limited Cryptocurrency
- No Educational Resources
- Lots of bad reviews
3. Paxful
Paxful is another secure platform, and it is one of the best cryptocurrency trading apps in Nigeria. The crypto exchange has a robust peer-to-peer market where Nigerians can use Naira to buy Bitcoin. Only Bitcoin is available for trading on Paxful, which might be the only downside. The platform also has a lot of other methods that can be used to buy Bitcoin, and users can sell amazon gift cards in exchange for Bitcoin.
It is a peer-to-peer marketplace, and users must be cautious while trading on the platform. However, it has a clean and beginner-friendly interface, and they support a lot of projects, including building classrooms in Nigeria and Africa at large. Therefore, you’ll find a lot of Nigerians trading crypto on Paxful.
Pros
- Easy to use
- Lots of payment options
Cons
- Only bitcoin available for trading
4. Binance – Best Cryptocurrency Trading Apps in Nigeria
Binance is the largest cryptocurrency trading platform globally, and there are a lot of Nigerians that use their peer-to-peer market to trade crypto. I use Binance to store a fair percentage of my entire crypto portfolio. The platform is secure, and there are a ton of features that I enjoy using. I stake some of my cryptocurrencies to earn passive income on Binance, and I have access to borrowing cryptocurrencies.
The interface when using Binance Pro might be confusing for beginners, but Binance Lite is beginner-friendly. There are over 400 different cryptocurrencies available for trading on Binance. Billions of dollars worth of crypto are traded daily on Binance, and there are over 26 million visits weekly, according to reports from coinmarketcap.
Binance has all the needed tools that pro traders can take advantage of and make the most out of trading cryptocurrency. It is one of the best cryptocurrency trading apps in Nigeria and the world. The crypto exchange platform is available in over 180 countries, and newbies can learn more about cryptocurrency using the Binance academy tutorials. They also added an NFT marketplace where users can easily buy and sell their NFTs.
I use Binance, and I had used it right from when I started investing in cryptocurrency. So you should check it out if you are beginning. You should also read their terms and conditions because they have the right to lock your account if you violate any.
Pros
- Wide range of cryptocurrencies
- Advanced trading features
- Educational contents
- Mobile app
- Earn passive income
Cons
- Facing regulatory issues in some countries
5. ByBit
ByBit is another top crypto exchange that I stumbled upon recently, and it shares some similarities with Binance. Most of the time, there is a new user bonus if you sign up, and I was lucky to get $10 worth of USDT after I deposited Bitcoin cash on the platform. There are a lot of cryptocurrencies listed on ByBit, and you can earn free crypto by staking in their launch pool when they want to announce new crypto.
The platform is secure, and you add two-factor authentication to protect your account further. There are a lot of features in the app, but it is easy to understand for beginners. The platform also has advanced trading features that professional traders can use. ByBit is one of the best cryptocurrency trading apps in Nigeria.
Pros
- Easy to use
- Wide range of cryptocurrencies available for trading
- Well Secured
Cons
- Not suited for spot trading
Rounding Up
If you want to start cryptocurrency trading in Nigeria, the platforms listed above are the best available in Nigeria. Luno is the best cryptocurrency trading app for beginners because it is easy to use. Professional traders use Binance and ByBit because they can use advanced trading features.
If we missed your favorite cryptocurrency exchange, please name it in the comment section below.
