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BuyCoins is a crypto trading app that allows its users to buy and sell cryptocurrency. In this article, I will be doing an extensive BuyCoins review.
What is BuyCoins?
As earlier mentioned, BuyCoins is a broker and peer-to-peer crypto trading app in Nigeria which allows its users to buy, sell, store and transfer stocks and cryptocurrency with local currency.
Founded in 2017 as Bitkoin Africa, they later rebranded to BuyCoins in February 2018.
The company is reputable for being part of the few crypto exchange platforms that allow users to buy bitcoin in Nigeria by directly using either their local bank account or debit card.
Major Features of BuyCoins
- Instant buy and sell
- Wallet
- Mobile App
- No transaction fees
- Buycoins PRO
- Live chat
- Multiple coins support
- Referral program
- Coinlock NGTN(Nigerian Naira Token)
How To Buy Crypto on BuyCoins
- Click on “TRADE” at the bottom of the home page
- Select which crypto coin you wish to purchase
- Click on “Buy”
- Enter the amount you wish to buy in Naira
- The estimated amount you’ll receive will be displayed
- Click “REVIEW DETAILS”.
- Confirm purchase
How To Sell Crypto on BuyCoins
- Click on “TRADE” at the bottom of the home page
- Select which crypto coin you wish to sell
- Click on “SELL”
- Enter the amount you wish to sell
- Click on “Review Details” to confirm that your transaction details are correct and proceed with your sell order.
How To Swap on BuyCoins
- On your home page, click “TRADE”.
- Select the coin you want to make the swap on
- Click on “SWAP”
- Enter the amount you wish to swap
- From the available options, select which crypto you wish to swap to
- Click on “Review Details”
- Confirm your transaction details and click “Swap”
Supported Cryptocurrencies on BuyCoins
- Bitcoin
- Litecoin
- Ethereum
- USD Coin
- USD Tether
- Chainlink
- Dogecoin
- Cardano
- XRP
- Stellar
- Binance Coin
- Uniswap
- Solana
- Polygon
- PancakeSwap
- Serum
- FTX Token
- Axie Infinity
- Ethereum Name Service
- Shiba Inu
Transaction Fees on BuyCoins
1. Withdrawal Fees:
You will be charged 50NGN when you are withdrawing from your BuyCoins Naira account to your local bank account.
2. Deposit Fees:
You can either make a deposit using Bank Transfer or Paystack (Card payment).
Bank Transfer: Free
Paystack: 1.5% + N50 (if above N10,000) to a maximum of N2,000
Is BuyCoins Legit?
Launched in 2017, BuyCoins remains one of the best crypto trading platforms in Nigeria. It is safe to use as it allows users to set up two-factor authentication to add an extra layer of protection to their accounts. BuyCoins also provides an escrow service to protect its users against fraud while trading.
Although BuyCoins is only available in Nigeria, it has many interesting features Including its easy-to-use interface.
Customer support is available for any enquiries and a live chat option is available to reach a representative quickly.
