As a crypto trader, selecting the best crypto exchange for yourself can be difficult. You want to seek out better options that suit your needs and offer commendable service while not charging too many fees. While there are many crypto exchanges and apps in Nigeria alone, it is confusing to know which one is genuine and has much lower fees.
In this article, we will explore 5 key checklists to use when selecting the best crypto exchanges in Nigeria:
5 CHECKLISTS FOR SELECTING THE BEST CRYPTO EXCHANGES IN NIGERIA
Look for a crypto platform with the best market cost for your budget. When you are looking for the best crypto platform, price should be one of your top considerations. There’s no point in choosing a site with sky-high fees when there are cheaper options available.
Look for withdrawal limits that each of the crypto platforms has. Some cryptocurrencies have withdrawal limits. Make sure you know what your limitations are before trading on these platforms.
The most important part is to make sure that the platform you are willing to use is secure. Cyber security is one of the most important aspects to consider when using any platform or service. You should always make sure that you’re safe online, which includes keeping your personal information secure as well as staying away from malicious sites and downloads on platforms like Facebook, where hackers can get access.
4. Customer Support
Most people don’t think about it when choosing a platform. However, it may be one of the crucial steps as customer support is the one who will help you in case of any emergencies with your funds and transactions.
Credibility is an important factor to consider when choosing a cryptocurrency trading platform. Before placing any trades, check out the reviews from other customers and see what they have experienced with this particular service provider or exchange in order for you not to be disappointed later down the road.
TOP BEST CRYPTO EXCHANGES IN NIGERIA
Here are the top best cryptocurrency exchanges in Nigeria:
Breet is an OTC crypto exchange platform that allows users and businesses who simply want to receive crypto and get a flat equivalent of their coin to convert their crypto to cash money immediately. With Breet’s over-the-counter system, you are saved the hassle of boring explanations of what and how crypto works and tedious illustrations of cryptocurrency market charts. Breet enables users to securely convert and withdraw their crypto coin to cash money in less than five(5) minutes without the use of peer-to-peer trading or any third-party agent.
Breet is a revolutionary new way to convert and withdraw your crypto coin without the need for peer-to-peer trading or any third-party agent. With just one click, you can have cash money in hand within five minutes.
Breet is the easiest way to get your crypto converted into cash. The platform makes it easy by simplifying everything for you, so all that’s left are some simple steps. Breet is arguably, the best crypto exchange in Nigeria for selling cryptocurrencies.
LocalBitcoins is one of the oldest and most popular cryptocurrency marketplaces in existence today. It allows you to buy or sell Bitcoins with other individuals on their platform, rather than trading globally as many others do nowadays.
LocalBitcoins users need caution, though; it’s possible to get scammed by other users on the site, especially when selling Bitcoin for cash. One common scam, for example, is a buyer who pays you via PayPal and then files a PayPal dispute once they’ve received your Bitcoin. Other payment methods (eg. INTERAC transfer and bank wires) are much more secure, but still, be careful. If it seems too good to be true on LocalBitcoins, it probably is.
Remitano is an online peer-to-peer escrow marketplace that makes purchasing and selling cryptocurrencies easy. The cryptocurrency trading platform allows customers to buy crypto in both fiat currencies or other digital tokens, with the added security of being able to trade on margin for up to 50%.
With Remitano, you can trade with other crypto traders worldwide. The platform offers a safe and secure environment for all involved parties to enjoy a smoother transaction experience.
The Quidax platform makes it easy to buy and sell cryptocurrencies with either USDT or Naira, which is currently pegged at a rate of 1:1. The minimum deposit on this site starts out as $10 but can be lowered if you’re willing to participate in their referral program.
[READ ALSO: WHY YOU NEED CRYPTO EXCHANGES FOR YOUR BUSINESS]
The exchange offers fast transaction speeds. According to the platform, bank transfers are fee-free, and it also has a max cap on withdrawals at ₦2k per request or a flat rate of 100 Naira anywhere in Nigeria, so you don’t need to worry about high fees.
The Binance exchange has become one of the most popular ways to buy and sell cryptocurrencies in just a few short years. This cryptocurrency trading platform offers over 600 digital currencies and 1,000 other markets for traders interested in all types of products, from oil stocks or gold miner shares – you can find whatever your heart desires on this site.
Binance also doubles up functions – not only does its website give people access to trade between themselves without any third party involved, but if accepted onto their network will enjoy discounts at reputable brands like TwitchTV, which currently offers 10%.
CONCLUSION: Best Crypto Exchange in Nigeria
In summary, given the checklists for selecting the best crypto exchanges in Nigeria, BREET seems to stand out and offers incredible service and features that can suit the needs of many crypto traders. You can start trading your crypto on Breet by downloading the mobile app.