Today, I’m gonna share with you the seven best crypto exchanges we have in Nigeria and in Africa, at large you can be able to buy sell, and create your cryptocurrencies.
Now let’s say you had some BTC and you went ahead and stored it in one wallet and one day maybe you’re trying to get an airdrop and you got tricked and gave your private keys to claim your airdrop. (Never ever give your private keys to anyone. If someone asks for your private keys, it’s 99.9% a scam). Then your BTC is gone. That’s why it’s very much encouraged that you have multiple crypto wallets or crypto accounts so in case something happens to the one you can able to you know fall back to the other one
This is why I am writing this article about the seven best crypto wallets in Nigeria.
Binance was started in the year 2017 by CZ, during the ICO mania, it went on to become one of the largest exchanges in the world. Currently, Binance has in the year 2021 traded up to 2 billion US dollars and it was the biggest in terms of trading volume in the whole wide world in 2019. Unfortunately, Binance went on and get hacked for about 7000 BTC. Those funds were lost or stolen from their customers but one good thing Binance did to secure its reputation was refunding its customers. Binance has been hacked before they are still one of the safest crypto exchanges to make use of in the whole wide world in fact in 2021 they are declared the largest crypto exchange with a trading volume of two trillion us dollars. I think I’ve said this before for me personally one of the reasons I love the Binance app is because of its security if you want to create an account or wallet after creating an account you need to verify your identity which is very important if you want to make the big volume of trade as an individual who makes a lot of b2b trading I kind of have a few trust issues but making your transfers I’m sure that if I’m to make a b2b trade that my security is assured and nobody’s going to scam me at the end of the day.
The second best crypto exchange in Nigeria and Africa at large is Luno formerly known as BTX was launched in the year 2013 and they are currently operating in countries like Indonesia Malaysia South Africa Nigeria and a few other countries. I personally downloaded the new app a long time ago when one of the biggest thought leaders in Nigeria going by the name Jono mentioned the app on his Facebook group. I went ahead and downloaded an app and made use of the app and I pretty much enjoyed using the app but here’s one of the reasons why Luno made this list of the best exchanges in Nigeria the first reason is that the nunu app is very user friendly. If you’re a newbie in the crypto market and your goal is just basically to buy and hold and not to you know go in-depth in trading futures trading margin trading then the lunar app is what I would actually recommend for you it’s very much user friendly.
Like I said and the first-ever Bitcoin I bought in my life was using the app so that’s one of the reasons why I actually recommend it to you because I’ve made it off it when I was just starting out. Back then, I was a newbie even though I’m seeing a newbie now but um I made your new app and I enjoyed the whole experience and I’ll actually recommend it.
Another reason why the Luno app made this list is that if you go to the app store you can see that Luno has more than one million downloads and the rating on the app by its users is mind-blowing with an app that has more than one million downloads the rating.
Patricia is well known for its popular sponsorship of the big brother Nigeria show but I’d love to give you a brief history of Patricia. Patricia is a Nigerian (🇳🇬) born and bred crypto exchange it was founded in the year 2017. Roughly at the same time as the Venezuelan crisis. Binance is roughly 2 times bigger than Patricia because of the economy where Patricia is operating versus the economy where Binance was operating and when they started and you know there’s a huge difference between China and Nigeria. Another reason why I believe Binance is bigger than Patricia is that the founder of Binance CZ has previous experience in the crypto space and he’s also a software engineer while Fiji started Patricia because he was camped off his gift card and all that stuff so you know after being scammed you guys said “let me start my own exchange” with no experience with little money little capital went ahead and started Patricia.
I’m viewing it as a million-dollar business right here in Nigeria one of the reasons why Patricia made this list is because it is safe usually it is hard to trust Nigerian companies with safety especially when it comes to the financial space.
I have a bad experience making use of a young people exchange called Qdax I remember saving some crypto I think it was Bitcoin to be precise a few years ago in my credits accounts and my currency I was saving that particular coin you know for I think the Russian USD are saving that USDT to you know make it to be doing Christmas period you know to use it to enjoy my life doing Christmas.
Only to come out in December to withdraw my USDT and cash out and make money because of the Nigerian dollar was fluctuating until I was a little bit higher than when I purchased it the last time you need to come and see that my account has been wiped and I didn’t know that nobody has accessed my account before I just don’t know but feeders had this bad experience with them and then I jumped into issuing those reasons that I’ve lost trust.
OKX was launched I believe in 2017 and it’s just like the Binance app the minus app you can do features trading you can buy and hold you can do margin trading and b2p and other stuff and with OKX exchange almost all the whole features that Binance has. OKX exchange also has the same features now one of the reasons why okay I like to call it okay because I have to call this OKX made this list is because it’s security after that two years ago they improved so much on their security in fact they have a 2fa which is very important. Before you get access to the app you just left it out so it will come up if someone logs into the app from another location that is not the current location you’ll notify you and you can easily block that person from accessing your OKX app.
Now you can also send set up from the withdrawal on the app let me see if someone wants to withdraw phones or you want to withdraw by setting up a password that will always come up before any phone is withdrawn from the OKX exchange app and also competing they have more than one million downloads they also have a four-point six written one app that has one plus million downloads. I think the four-point six is it’s massive it means that the app is very much loved and the users actually love the app. Another reason why OKX made this list is that they have advanced trading just like Binance so for those that don’t want to be doing buy and hold you cannot go into advanced staging or sports reading futures trading and all p2p trading with the OKX app.
So this is also another reason why I love the OKX exchange app.
Crypto.com was formerly known as Monaco until they purchased the domain name crypto.com from a cryptographic researcher you know when they change their domain name to crypto.com the brand become more popular because lots of people are searching on the internet for crypto and many starts what crypto usually is their brand that comes up on the google search engine. This strategy actually made their brand become more popular and also they spend a lot of money on advertising they are sponsors of the popular sports like the Ufc um the sponsor cover-ups like PSG and also the formula one.
So they spend a lot of money also on advertising and it has made them be one of the most popular brands to exchanges in the whole wide world one of the reasons why they also made this list is because they are a very popular platform. They made this is because they have over 10 million downloads on the google play store and a 4.0 rating which is quite good for a company that has that much of a download.
coming number six on this list is Roqqu which is a cryptocurrency platform that enables you to buy sell and store your cryptocurrencies. It was one of the earliest cryptocurrency platforms we had in Nigeria though is not as big as Binance. They made this list because they are quite a very popular crypto platform in Nigeria they have over 500 000 downloads on the google play store with a 3.6 rating and that is in the images this is because the user interface is very slick. It’s user-friendly as a newbie you can basically make use of the local app and you know to buy your first bitcoin. Why doesn’t make this list again is because I’m a little bit biased on this one but they’re a Nigerian company and somehow you know to create this list without adding one or two Nigerian companies but yeah their platform is nice they are credible and that’s the major reason why they made this list.
Coming number seven on this list is Kucoin. They are one of the most popular crypto platforms we have in the whole world they have over 8 million it was funded in 2018 I hope I got this one but it was funded by Johny Liu. But it’s a very popular crypto exchange platform it’s an incredible brand some of the reasons why I like Kucoin coin. They have low trading fees two they are a very popular brand having 81 downloads is not easy to get like it’s not easy guys so they are very popular now the reason why they made this is because their interface is so sweet like if you’re a newbie I always like to see this being newbie because of Kucoin is very sweet to use you enjoy the experience. I enjoy the experience makings of the app so you enjoy the experience so there’s one of the reasons they also made this list and a major reason why they also made this list is because the security they have on their platform is mind-blowing is security concerns and it’s very very important that you consider secrets in terms of using any of these crypto exchanges.
Which crypto exchange is no 1 in Nigeria?
It is difficult to determine a definitive ranking of cryptocurrency exchanges in Nigeria, as different exchanges may be more popular or suitable for different users depending on their needs and preferences. Some of the most popular cryptocurrency exchanges in Nigeria include Binance, Luno, and Quidax.
Binance is a global cryptocurrency exchange that offers a wide range of trading options and supports multiple cryptocurrencies. It is known for its low fees and advanced trading features, making it a popular choice for experienced traders.
Luno is a cryptocurrency exchange and wallet service that is popular in Nigeria and other countries in Africa. It offers a simple and user-friendly platform for buying, selling, and storing cryptocurrency.
Quidax is a Nigerian cryptocurrency exchange that supports a wide range of cryptocurrencies and offers a simple and user-friendly platform for buying, selling, and storing cryptocurrency.
It’s worth noting that the popularity of a particular exchange may vary over time and can depend on a number of factors, such as the fees, security, and availability of the exchange. It’s important to carefully consider your needs and do your own research before choosing a cryptocurrency exchange.
If there’s any exchange you believe should have made this list and another on this list leave a comment telling me the name of that exchange and why you think they should have made this list or talk to some of the companies I listed on this particular article I have another article where I talked about the seven or the eight best crypto influencers to follow in Nigeria you’ll find that article interesting so after watching this article to more people find the best exchanges to use while trying to trade their cryptocurrencies also guys don’t forget to hit the subscribe button it’s very important and without being said guys.
This is a transcript from the great video of: Micah Erumaka.