Contrary to what most people think, there are several Cryptocurrency Exchanges developed by Nigerian entrepreneurs, where one can buy or sell cryptocurrencies aside from the popular foreign ones like Paxful, Localbitcoins, Luno or Remitano, Binance, Bitmex etc. In a recent survey of startups playing in Nigeria’s blockchain ecosystem, we discovered that 27% of these companies are offering full crypto exchange services.
By way of definition, a cryptocurrency exchange platform is an online website which supports the buying, selling & trading of several cryptocurrencies.
Even though more than 100 cryptocurrency exchange platforms existing today in the world, not all of them are trustworthy, not all of them provide fair fees, and not all of them safely secure your transactions.
What to look out for before joining an exchange
It’s important to do a little homework before you start trading. Here are a few things you should check before making your first trade.
- Payment Methods
- Verification Requirements
- Geographical Restrictions
- Exchange Rate
The truth is that most of these Nigeria based exchanges actually have awesome features that could compare with any offered by their competitors elsewhere.
Let’s take a look at the ones I found;
Did I miss out any viable crypto-exchange in Nigeria?