How to buy bitcoin in Nigeria in 3 easy steps

Find the best crypto exchanges to purchase BTC in Nigeria in 2021
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Exchanges

Our favourite crypto exchanges in Nigeria

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Top crypto exchanges to buy and sell bitcoin in Nigeria

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Here are the top exchanges to purchase bitcoin safely in Nigeria, handpicked and updated by our team.

This site is free to use.
We may earn a commission if you purchase bitcoin from some of the exchanges listed. Read our full disclaimer.

#1

yellow card logo
Ease of use
Fees
Speed

Headquarters: Atlanta, Georgia, USA

Yellow Card is a simple, fast and secure platform to buy digital currencies

The ease of use along with low fees makes it the perfect exchange to purchase bitcoin for newbies and non tech savvy people.

Pros
  • Very simple to use
  • Low fees
Cons
  • Not many altcoins to choose from
Payment methods
  • Bank transfer
  • Cash

#2

kraken logo
Ease of use
Fees
Speed

Headquarters: San Francisco, California, United States

Kraken is one of the largest and oldest cryptocurrency exchanges in the world.

After being founded in 2011, it has grown into a cryptocurrency industry powerhouse.
It is available across the world in almost every country.

Pros
  • Only 0.25% taker fee
  • Maker fee 0% if enough volume
  • Rated one of the safest exchanges regarding crypto and data security
Cons
  • Might be a bit hard to use first time for a newbie
Payment methods
  • SEPA transfer
  • Credit & Debit card
  • Deposit USD, EUR, CAD, AUD, GBP, CHF, JPY

#3

paxful logo
Ease of use
Fees
Speed

Headquarters: New York City, United States

Paxful is a peer-to-peer marketplace for buying and selling bitcoin.

After being founded in 2015, Paxful has quickly spread across the world to become one of the world's most popular platforms to buy bitcoin.
Great choice to purchase BTC with cash.
Users can post trade offers and search for offers with suitable payment methods and amounts.

Pros
  • 1% Seller fee is the only fee
  • Buy up to $1000 worth bitcoin anonymously with no ID verification
  • All funds held in escrow until both parties confirm the transaction
Cons
  • Some users post higher priced offers
Payment methods
  • Credit & debit card, cash, Revolut, SWIFT, Western Union, Moneygram, Neosurf, Neteller, PayPal, Gift cards, Flexepin, iDEAL, Pefect Money & more
  • Deposit USD, EUR, GBP, RUB, CAD & more

#4

localbitcoins logo
Ease of use
Fees
Speed

Headquarters: Helsinki, Finland

LocalBitcoins is a peer-to-peer marketplace for buying and selling bitcoin.

LocalBitcoins was founded in 2012 and quickly became the most established p2p bitcoin exchange.
Purchases are usually made via an in-person meeting, but many other payment methods are available.
Users can post trade offers and search for offers with suitable payment methods and amounts.

Pros
  • Can be used in every country in the world
  • 1% Fee to seller only
  • All funds held in escrow until both parties confirm the transaction
Cons
  • Some users post higher priced offers
Payment methods
  • National bank transfer, SEPA, cash, Swish, QIWI, Mobile top-up, Sberbank, Tinkoff, Alfa-Bank, VTB Bank, Revolut, M-PESA, PayID
  • Deposit USD, EUR, GBP, RUB, CAD & more

#5

okcoin logo
Ease of use
Fees
Speed

Headquarters: San Francisco, California, United States

OKCoin is the perfect exchange for an experienced trader.

With many advanced trade types, such as margin & futures, OKCoin is one of the most advanced crypto exchanges in the world.

Pros
  • Only 0,1% withdraw fee
  • Many advanced trading features
  • High liquidity
Cons
  • Small variety of altcoins only
Payment methods
  • Debit & credit card, bank transfer, wire transfer, SEPA, Epay, PrimeX, ACH, Silvergate SEN
  • Deposit EUR, USD, SGD

#6

changelly logo
Ease of use
Fees
Speed

Headquarters: Valletta, Malta

Changelly is an intermediary platform between crypto exchanges and users.

You can swap between cryptocurrencies without keeping the coins on Changelly.

Pros
  • No history of hacks
  • 24/7 Live support
Cons
  • High fees
Payment methods
  • Debit & credit card

#7

bittrex logo
Ease of use
Fees
Speed

Headquarters: Seattle, Washington, United States

Bittrex is a US regulated crypto exchange with high focus on security.

The founding team has more than 40 years of combined experience in computer security.

Pros
  • Small fees
  • Emphasis on security
Cons
  • Slow support
  • Slow verification
Payment methods
  • Debit & credit card, SEPA transfer, bank transfer, wire transfer
  • Deposit EUR, USD

#8

luno logo
Ease of use
Fees
Speed

Headquarters: London, United Kingdom

Luno is trusted across 40 countries by over 5 million people.

Their goal is to provide everyone with easy-to-use products and highest security cryptocurrency systems.

Pros
  • 0% Maker fee
  • Low withdraw fee
Cons
  • Not many cryptocurrencies for trading
Payment methods
  • Debit & credit card, SEPA transfer, bank transfer, Instant Bank Transfer, PayID, Interbank GIRO, FPX Instant Transfer, Xfers transfer, EFT, Instant EFT
  • Deposit EUR, AUD, ZAR, NGN, SGD, MYR, IDR, UGX, ZMW

#9

nairaex logo
Ease of use
Fees
Speed

Headquarters: Abeokuta, Nigeria

NairaEx is the number one local Bitcoin exchange in Nigeria.

The only accepted fiat currency is the Nigerian Naira NGN.

Pros
  • Low fees
Cons
  • Available only in Nigeria
  • Deposit only NGN
Payment methods
  • Bank transfer, bank deposit, ATM transfer
  • Deposit NGN

#10

bitpesa logo
Ease of use
Fees
Speed

Headquarters: Nairobi, Kenya

BitPesa is a Kenyan company, founded in 2013.

In addition to their HQ in Nairobi, they have offices in Luxembourg, London, Lagos, Madrid & Dakar.

Pros
  • Complicated to use
Cons
  • High fees
  • Available only in Kenya, Nigeria, Ghana and Uganda
Payment methods
  • Debit card, Paga, Mobile money
  • Deposit KES, NGN, GHS, UGX

Didn't find what you were looking for?
Find the nearest bitcoin ATM in Nigeria with our bitcoin ATM map.

How to buy BTC in Nigeria in 3 steps (2021)

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Follow these steps & learn how to easily purchase bitcoin in Nigeria safely.

  • 1

    Choose the exchange

    chooseexchange

    Choose your pick from our list of Top crypto exchanges in Nigeria.

    Remember to use links from this website to make sure you don't end up on scam / phishing websites.

  • 2

    Register + KYC

    kyc

    Register on the exchange and go through the KYC process.

    The most popular exchanges use automated Know Your Customer services.

  • 3

    Deposit fiat & buy bitcoin

    deposit fiat

    Deposit your fiat currency.

    Depending on the payment method this step can take minutes, all the way up to 5 business days (for example if you want to deposit with international bank transfer).

    Choose debit or credit card payments if you want to skip the funding process and are willing to pay a bit more in fees.

    Otherwise, once the money hits your account you are free to purchase BTC.

  • bitcoin

    Bonus Step!

    Now that you finally have your precious bitcoin, it's not a great idea to leave it on an exchange. To avoid losing your wealth in exchange hacks, move the crypto funds to your personal wallet.

    Don't have a wallet yet? Check out our guide to find the best bitcoin & cryptocurrency wallets.

Make sure to check out our list of the best exchanges to buy bitcoin in Nigeria.
Hand picked, filtered out from scam exchanges and updated by our team.
This will save you hours and possibly a lot of money as well.

4 Extremely important things to look for when choosing your exchange:

There are incredibly large amounts of scammers and hackers in the crypto space, due to the decentralized nature of cryptocurrencies. It has been extremely important since day 1 to do your research before buying Bitcoin and the need for analysis is becoming more crucial every single day. You don't want to feel your palms sweat and anxiety take over as you realise your hard earned money is gone. As you might have already read, more than $11 Billion worth of crypto has been stolen since 2011. Read Top 5 crypto scams and how to avoid them to learn how to keep your crypto safe.

nigeria

Being decentralized, thus having no central entity, Bitcoin has no support number you can call if you lose your coins.

If your crypto is stolen, it's usually gone for good!

If you manage to avoid the scammers, you are still vulnerable to high fees from rogue exchanges. This is the wild west and if you are not careful you can lose your money.

Other things you need to look out for when choosing a digital currency exchange are:

  • Geographical availability earth

    Is it even to possible to use the exchange in Nigeria? Due to increasing government KYC (Know Your Customer) and AML (Anti Money Laundering) regulations it's difficult for companies to do business in a lot of countries simultaneously.

  • Payment methods payment method

    Is the type of payment you need available? Some exchanges let you purchase Bitcoin with a credit card in Nigeria, but not with a bank transfer. Peer to peer exchanges let you find crypto sellers for cash, but can take a lot of time to do the transaction.

  • Delivery times time

    Time is money. How fast do you need to get your coins from the moment you land on the exchange's website? If you need the coins fast, you need to pay with credit or debit card for instant payments. If you need to deposit EUR via SEPA transfer, you might need to wait 1-2 days for the deposit to hit your account. Are you trying to buy bitcoin with cash in Lagos city center or in the countryside near Kano? You're going to need a p2p (peer to peer) exchange for that.

    A lot of exchanges take ages to go through the KYC process, possibly losing you days before you can finally make the purchase. By then you might have lost a good entry opportunity. Some exchanges listed in our Top exchanges to buy BTC in Nigeria list allow you to buy Bitcoin anonymously without KYC verification in very small amounts (~$100).

  • Fees fees

    How much are you willing to pay in fees? If you want to purchase Bitcoin with credit or debit card, be prepared to pay higher fees. When in peer to peer exchanges, make sure to watch the price as a lot of sellers set prices higher than the market price.

That's hours and hours of research! - You, reading this

Luckily for you, we have done all this research for you.


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Frequently Asked Questions

When choosing an exchange you have to think of 4 factors - geographical availability, payment methods, delivery times & fees.

You can find the best crypto exchanges to purchase BTC on our Top Crypto Exchanges in Nigeria list.

Once you have your BTC, the best idea is to store it in a hardware wallet.

If you keep your coins on an exchange, then you don't own the private keys which means you don't own your coins.

Don't worry - we'll help you find the best crypto wallet for you.

To purchase BTC anonymously with no KYC verification in Nigeria you have to find a seller willing to transact with you.

You can find a seller from one of the p2p exchanges listed on our Top Crypto Exchanges in Nigeria list.

You can pick an exchange with credit / debit card option on our Top Crypto Exchanges in Nigeria list.

KYC is mostly required for this payment method.

If you want to purchase BTC with a bank account transfer, you can easily find an exchange from our Top Crypto Exchanges in Nigeria list.

Over-The-Counter trading desks help individual and institutional investors purchase large amounts of bitcoin & other cryptocurrencies safely and fast.

To read more about how to buy large amounts of crypto, read our bitcoin OTC guide.