Buying bitcoin is one good way to fight inflation and invest wisely for future gains. However, to do this the proper way you must know the best site to buy bitcoin in Nigeria so that you will not fall into wrong hands. Just as there are several trusted bitcoin sites in Nigeria, there are also some untrustworthy sites that may scam you. Hence, researching for a good site is just as important as investing in bitcoin itself.
What is a Bitcoin Wallet?
To buy and trade bitcoin in Nigeria, you will need to have a bitcoin wallet because most of the bitcoin exchanges will require it. Basically, a Bitcoin wallet is just like a bank account that allows you to generate a Bitcoin address. Also, it acts as a “bank account number”, that you can give out to other bitcoin users to send bitcoin to you. Likewise, you can send it to them through your bitcoin wallet. Basically, it is for sending and receiving bitcoin and generating your bitcoin address.
While many people use crypto exchanges to store their cryptocurrency, doing this is very risky because it exposes your digital assets to hackers. Hence, the importance of using a bitcoin wallet. Several platforms allow you to open a bitcoin wallet. They include:
1. BitPay
2. Trust Wallet
3. Kraken
4. Coinbase Wallet
5. Luno Wallet
6. Quidax Wallet
7. Paxful Wallet
8. Presmit Wallet
9. Busha Wallet
10. Coinomi Wallet
11. Buycoins
12. Remitano Wallet
13. Patricia Wallet
Top 10 Best Sites to Buy Bitcoin in Nigeria
There is no single best site to buy bitcoin in Nigeria. However, there are some trusted sites to help you achieve this. They include:
1. Binance
Binance is one of the world’s leading bitcoin trading platforms. Basically, it offers you access to over 200 crypto coins. The platform receives users globally and has good reviews and ratings in the crypto community.
Binance is a good option if you want to purchase bitcoin in Nigeria. It is user-friendly and allows you to convert your Naira to bitcoin and from bitcoin back to Naira seamlessly.
2. Remitano
Remitano is a peer-to-peer bitcoin marketplace that allows you to trade bitcoin easily and safely. This site has a very simple interface and excellent online customer support that is always available.
You can safely buy bitcoin in Nigeria from this site since it uses a protected system called an escrow. When you buy bitcoin, your funds will be placed in escrow till the bitcoin is in your wallet.
3. Paxful
Paxful is a very secure peer-to-peer Bitcoin site that was launched in 2015 by Ray Youssef and Artur Schaback. On this site, buyers and sellers of cryptocurrencies interact with themselves by posting trade offers. Also, it offers you the option of buying bitcoin with multiple payment options, including a Debit Card, Western Union, Gift Cards, PayPal, etc
4. Nairaex
NairaEx is arguably the largest local bitcoin exchange platform in. Nigeria. It is a secure and reliable bitcoin exchange that Nigerians can use to purchase bitcoin. Basically, Nairaex lets you easily create and trade Bitcoin quickly. Also, it offers you same-day funding & funds withdrawal into any preferred Nigerian bank account.
This platform supports payment options like Bank deposits, Bank transfers, and ATM transfers. Nairaex stores all crypto assets offline with one main wallet custodian depending on the company.
5. Quidax
Quidax is a secure crypto trading platform that allows you to buy bitcoin in Nigeria. Also, you can buy Ethereum, Litecoin, Ripple, and other cryptocurrencies on this platform. Basically, Quidax allows you to securely buy and trade bitcoin, and withdraw easily.
6. Breet
Breet app is an automated crypto app that enables people in Nigeria to sell their cryptocurrency and get cash in return in their bank accounts. This platform allows you to do all these without paying any transfer fee. Basically, you receive the cash value for your crypto within 5 minutes.
Also, Breet serves as a payment gateway in Nigeria. It allows businesses to accept payments via common cryptocurrencies like Bitcoin, Ethereum, Dogecoins, Litecoin, and BCH.
7. Patricia Wallet
Patricia allows you to do more with crypto than just trading. Basically, this platform allows you to buy data, gift cards, as well as international airtime using Crypto. You can access the Patricia wallet via desktop, mobile, or even online by creating an account on Patricia and signing into it.
One advantage of using this wallet is that it provides an additional security layer, such as two-factor authentication and it requires a pin code to gain access to it. If you need a platform you can use to make daily payments, you should consider using the Patricia wallet.
8. Blockvila
Blockvila is a cryptocurrency trading company that provides both peer-to-peer and peer-to-business crypto services. Basically, with this crypto platform, you can purchase and sell Bitcoin, USDT, Ethereum, as well as other cryptocurrencies with different traders around Africa. or with Blockvila itself.
9. Kraken
Kraken is one of the world’s largest cryptocurrency exchanges and has millions of active users. The Kraken company has its headquarters in San Francisco, California, the U.S. It is said to be one of Nigeria’s safest bitcoin exchange platforms. This platform offers verified proof of reserve audits. Basically, these audits examine the total amount of cryptocurrency Kraken holds.
The payment options available on this platform include Debit cards, Bank transfers, Electronic Funds Transfers, and Wire Transfers.
10. Buycoins
Buycoins is another best site to buy Bitcoin in Nigeria. It is based in Lagos, Nigeria. One good thing that makes Buycoins outstanding is its Zero-fees policy. All Bitcoin and crypto purchases you make attract zero transaction fees.
Also, Buycoins offers you the new, stable cryptocurrency, Naira Token (NGNT). This cryptocurrency’s value is always equal to the Naira, unlike other crypto coins that are subject to changes.
Bottom Line
Investing in Bitcoin is as essential as knowing the best site to buy Bitcoin in Nigeria. Basically, the list of trusted sites above serves as a guide for you to make the right choice. You can pick any of the platforms above depending on your needs. Just ensure that you safely store your coins in your bitcoin wallet to protect it from hackers.
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