Bitcoin & Cryptocurrency Trading in Nigeria
On this site you find the best Bitcoin and altcoin brokers who welcome Nigerian citizens. You are free to long and short Bitcoin from Nigeria on these popular cryptocurrency trading platforms.
Bitcoin and Altcoin Day Trading – Swing Trading – Scalping – Perpetual Swap Contracts – Bitcoin Futures – These are the Top Cryptocurrency Margin Trading Sites with High Leverage:

- Bitcoin, Altcoin Derivatives
- Margin Trading
- BTC
- USDT
- no minimum
- $80 Bonus
10% Fee Discount Pro:
- No KYC
- Free demo account
- Unknown CEO
- Not for US traders

- Bitcoin, Altcoin Derivatives
- Margin Trading
- Bitcoin Futures
- Crypto Spot Market Exchanges
- BTC
- Altcoins
- Fiat Money
- no minimum
Certain withdrawal fees Pro:
- Highly trusted
- Low fees
- 80+ altcoins
- Hacked in 2019
- Complicated instruments

- Bitcoin, Altcoin Derivatives
- Margin Trading
- Bitcoin Futures
- BTC, ETH, EOS, XRP
- no minimum
- $10 Welcome Bonus
- Advanced order types
- $50 Welcome Bonus
- Highly transparent
- Not for US traders

- Bitcoin, Altcoin Derivatives
- Margin Trading
- BTC
- 0.001 BTC
- 50% Welcome Bonus
- No KYC
- Great customer support
- Not for US traders

- Bitcoin, Altcoin Derivatives
- Margin Trading
- Sport Market
- BTC
- Altcoins
- Fiat Money
- no minimum
- Highly-rated mobile app
- Low fees
- Fiat-to-crypto purchases
- Withdrawal fees for most cryptos
- Minimum withdrawal amounts
- Complex fee structure

- Bitcoin, Altcoin Derivatives
- Margin Trading
- BTC
- Altcoins
- Fiat Money
- no minimum
Certain fiat transfer fees Pro:
- Best Mobile App
- Anonymous accounts
- No trading fees
- High swap rates
- Low transparency

- Bitcoin, Altcoin Derivatives
- Margin Trading
- Bitcoin Futures
- BTC
- $1 minimum
10% Fee Discount Pro:
- High leverage
- Highest liquidity
- Market leader
- Mandatory KYC
- Not for US traders

- Bitcoin, Altcoin Derivatives
- Margin Trading
- Sport Market
- BTC, ETH, LTC, XLM, EUR, USD
- High liquidity
- Low trade fees
- 163+ tradeable altcoins
- Many features need upgrading
- Little to no transparency

- Bitcoin, Altcoin Purchase
- Margin Trading
- P2P exchange
- Bitcoin Futures
- Crypto Spot Market Exchanges
- BTC
- Altcoins
- Fiat Money
- no minimum
Spot: Maker -0.005% -0.1% | Taker 0.025% - 0.1% Pro:
- High Security
- Many altcoins
- BTC Futures
- Occasional outages
- Relatively low volume

- Bitcoin, Altcoin Derivatives
- Margin Trading
- Crypto Spot Market Exchanges
- BTC
- Altcoins
- no minimum
Certain withdrawal fees Pro:
- Altcoin margin trading
- Unique BTMX rewards system
- Only 10x leverage
- Not for US traders

- Bitcoin, Altcoin Derivatives
- Margin Trading
- Crypto Spot Market Exchanges
- BTC, Altcoins
- Fiat Money
- $20 minimum
Spot: Maker 0.1% | Taker 0.2%
Certain transfer fees Pro:
- Highly trusted
- Amazing trading interface
- Advanced order types
- Hacked in 2016
- Demanding verification

- Bitcoin, Altcoin Derivatives
- Margin Trading
- BTC, USDT
- 0.0001 BTC minimum
- High leverage
- Simple trading interface
- Major altcoins tradable
- Not for US traders

- Bitcoin, Altcoin Derivatives
- Margin Trading
- BTC
- Altcoins
- Fiat Money
- 10 USD minimum
- 1 USD micro accounts
- Many payment methods
- Experienced broker
- Also Traditional CFDs
- Support not 24/7
- High fees
- Only basic order types

- Bitcoin Futures
- Derivatives
- BTC
- 0.001 BTC
Certain withdrawal fees Pro:
- European Vanilla options
- Fast trading
- Low fees
- ID verification mandatory
- Liquidity issues
On this site you find the best cryptocurrency trading sites in Nigeria.
Can Bitcoin Brokers be used in Nigeria – Is Cryptocurrency Trading legal?
Bitcoin and cryptocurrencies are so far neither legal nor illegal in Nigeria. Rather, there is still no clear legal situation or regulation. That's why there is no reason not to trade on one of the multiple international bitcoin margin trading brokers in Nigeria.
Although the Central Bank of Nigeria sent a recommendation to all national banks in 2017 that they should distance themselves from cryptocurrencies and not support their use and related transactions, there is still a sharp increase in Bitcoin use by the population.
In fact, Bitcoin and cryptocurrency trading is more in demand in Nigeria than in any other African country, although large parts of Africa are also experiencing tremendous growth in Bitcoin use and acceptance.
Why is Bitcoin so popular in Nigeria?
Due to the growing importance of peer-to-peer payments - digital money transfer - via smartphone, cryptocurrency is spreading rapidly in Nigeria. Around 32 percent of Nigerians surveyed in the Statista Global Consumer Survey stated that they use or own crypto money. This puts the West African country in first place out of 65 countries included in the survey.
The online currency is preferred primarily because of the fast and reliable way to transfer money, which is not always available, especially in African and Southeast Asian countries. In addition, many users in Nigeria estimate that there are no transaction costs for foreign transfers, as is the case with most physical banks.
Also, more and more places are trading with Bitcoin. Even in places where one would not expect it at first glance. According to the website UsefulTulips, the trading volume on peer-to-peer platforms in sub-Saharan Africa has increased significantly.
Especially in Nigeria, a lot of trading is done with Bitcoin. Last week, a record volume of 10 million dollars was traded in Bitcoin there.
Great Interest in Bitcoin
The data from Google Trends show that there is indeed an above-average interest in Bitcoin. Residents from other African countries, such as South Africa and Ghana, are also interested in Bitcoin.
Bitcoin offers Protection against Inflation
One of the reasons in Nigeria is that Nigerians want to preserve the value of their money with Bitcoin. According to Trading Economics, the inflation of the Nigerian Naira, the national currency, is rising. In June 2020, inflation was as high as 12.5 percent. This was the tenth consecutive month in which this trend continues. This means that things as well as food, transport and rent are becoming more and more expensive for Nigerians in relative terms.
Although the Bitcoin exchange rate is sometimes subject to wild fluctuations, the crypto currency still seems to hold its value better than the Nigerian currency. This can also be seen on the following Bitcoin chart, where the price is expressed in Naira. The graph shows the price of Binance, where Nigerians have been able to buy and sell Bitcoin recently.
Bitcoin as Salary
In addition, a part of the Nigerian population receives their salary in Bitcoin. Bitcoin exchanges where people in Nigeria can exchange their Bitcoin salary against Naira are BitPesa, Paxful or Luno, for instance.
In recent years, the number of freelancers offering their services to Western clients has increased in African countries, including Nigeria and Ghana. Since these Africans want to be part of the economy, they are determined to look for alternative payment methods.
Nevertheless it is important to keep in mind that only a minority work with such online providers and the majority live from "offline jobs".