The typical Nigerian now has much easier access to cryptocurrencies thanks to their recent popularity increase. It enables the buying and selling of cryptocurrency. With the aid of the top cryptocurrency trading applications, some of the greatest exchanges have improved user-friendliness more than before.
Cryptocurrency investment is still relatively speculative and might not be appropriate for everyone. Whether it turns out to be lucrative long-term or not, investors can anticipate a wild ride. However, there is nothing wrong with owning digital currencies as a long-term investment if you think they have a lot of long-term potential and have a high-risk tolerance.
Here are some of the top cryptocurrency exchanges you need as a crypto trader in Nigeria. You may use these apps, exchanges, and brokers to begin creating your own crypto portfolio right away.
Overview: Cryptocurrency Trading in Nigeria
The majority of people view trading cryptocurrencies as a passive source of income. Others view it as an alternate kind of investment to more conventional ones. The number of speculative cryptocurrency traders is rising daily as interest in them rises, and in April 2021, Bitcoin soared past the $63,000 barrier.
The majority of cryptocurrency traders use smartphone apps, while more experienced traders also frequently use desktop apps. Individual users, groups, established funds, companies, and institutions are the target market for cryptocurrency trading. It’s a capable effort that deserves consideration.
The top cryptocurrency apps enable users to trade cryptocurrencies for free or little cost, deposit fiat promptly and with low fees and deposit fiat via a variety of payment options. With a modest fee, you can withdraw cryptocurrency. Users can invest in additional methods, like mining, staking, and built-in institutional custody, on the finest cryptocurrency apps and exchanges.
In order to enhance trading decisions and boost profitability, good software also enables traders to follow real-time pricing, set real-time alerts, and produce complex charts.
Best Cryptocurrency Apps For Crypto Trading In Nigeria
Here are some top crypto apps you need as a Nigerian crypto trader:
1. Breet App
One of the top crypto apps you need as a Nigerian crypto trader is Breet. Mobile wallets offer security on par with other wallets on the market by using safe two-factor authentication to safeguard your digital assets. Additionally, Breet enables you to trade digital assets in just five minutes and earn interest that is transferred right from your wallet to your bank account in Nigerian Naira. More admirably, Breet app is completely free, with no trading fees.
You receive rewards for your transactions, and there are no fees or charges. Breet offers users round-the-clock customer service and frequently updates them on developments in the bitcoin sector. I strongly advise using Breet if you wish to convert Bitcoin to Naira as a Nigerian Bitcoin dealer.
Trading cryptocurrencies in Nigeria is challenging but incredibly lucrative. For a successful trading journey, we encourage you to grasp the fundamentals and conduct your own research (DYOR). You can connect to trading platforms and obtain your Bitcoin certification by following these trading guidelines and the best methods on how to trade cryptocurrency in Nigeria.
2. Pionex
Pionex is another excellent bitcoin trading program. The mobile app’s user-friendly UI is distinctive. Low trading fees (0.05% trading fee) and great email and live chat services are also available.
3. Bitstamp
Bitstamp supports ETH and Algorand staking. There are also minimal trading fees. Spot trading fees range from 0.05% to 0%, and real-world currency deposits range from 1.5% to 5%, depending on the method.
4. Crypto.com
Another excellent cryptocurrency that any trader in Nigeria should use is Crypto.com. For personal use, the platform also offers a cryptocurrency Visa card. Level 1 maker and taker fees range from 0.4% ($0 – $25,000 in trading volume) to Level 9 maker and taker costs of 0.04% ($200,000,001 in trading volume) and 0.1% ($0.1%).
5. Binance
Peer-to-peer support, centralised order books, and sophisticated charting for traders. A trading fee of 0.02% to 0.10% applies. Debit card fees range from 3% to 4.5%, or $15 per wire transfer to the United States.
6. Robinhood
One of the greatest applications for buying both cryptocurrencies and conventional investments like stocks and options in one place. It provides instant access to deposits and offers a large variety of well-known cryptocurrencies. Additionally, trading cryptocurrencies on Robinhood is completely commission-free. Stocks, ETFs, options, and cryptocurrencies cost nothing.
7. eToro
On its site, eToro offers a good variety of cryptocurrencies. Additionally, it provides some distinctive features, including commenting options akin to social networks and the capacity to track and replicate the investments of other bitcoin traders. 1% + spread for cryptocurrency trading; 0% commission for equities & ETFs.
Cash App
The Cash App from Square only supports bitcoin. But for those who only want to buy, trade, and hold the most popular cryptocurrency, it might be a wise decision. Along with these wonderful features, the well-known banking software also offers stock trading and person-to-person payments. Fees differ for cryptocurrencies; they are $0 for equities.
Bottomline
Make sure the broker or exchange you select offers the functionality you require. Find the best cryptocurrency apps like Breet, for instance, if you want to sell cryptocurrencies to Naira on your smartphone.
Direct purchases of bitcoins from other people are also an option. At the beginning of Bitcoin, this was far more common. This, however, can become very intricate and is outside the purview of this discussion.
Cryptocurrency trading is quite risky. Like any technological investment, we think investors should approach these assets with a long-term perspective and be prepared for ups and downs. We spot investment possibilities. We constantly encourage our community to use our preferred coins. To understand the potential risks and rewards before investing, we do advise conducting some studies.
