Best cryptocurrency exchange Nigeria 2021
          

Currently, the word "cryptocurrencies" divides us all into two camps: some know nothing about them, while others are already making a lot of money from them. If you intend to study this innovative phenomenon of our financial system, you should first choose a platform on which to work and study.

Cryptocurrency trading continues to grow and take root, offering modern and advanced features. As more swaps and options are offered to investors, finding an exchange to trade on can become a daunting task.

Coinbase

Coinbase was founded relatively recently, but it has already managed to earn a solid place in the list of the best cryptocurrency exchanges in the world. These results were made possible by the available interface languages, as well as other advantages of this platform.

According to the reviews about Coinbase exchange, one of its main advantages is the availability of convenient services to work with: current exchange rates, charts, news, descriptions, transaction history, etc. In addition, given the complexity of the legislation of different countries in 2021, this cryptocurrency exchange has its official mirror in case the main site is blocked.

The whole process of cryptocurrency trading and exchange depends, of course, on the ease with which money can be deposited and withdrawn. According to Coinbase's summary, users especially appreciate the availability of sufficient opportunities to deposit and withdraw earned money, not only in the form of cryptocurrencies and e-wallets, but also in the form of fiat money (dollars, euros, etc.):

  • 23 types of coins.
  • The rates charged for all operations under $200 are as follows: $ 0.99 - $ 2.99 - for operations from $ 0 to $200; for over $200, a fixed interest rate comes into play. Its size depends on the payment method.
  • Free mobile and online wallet. The advantage of this wallet is that transactions can be made off-blockchain.
  • You can pay funds that can be deposited and withdrawn using a bank card, transfer and a range of payment systems. SEPA transfers are available for EU residents.
  • Two-factor authentication. All website traffic is encrypted using the SSL cryptographic protocol; All wallets keys are protected by AES-256 encryption. Only 2% of her clients' cryptocurrency funds are stored online, and they are insured in case of loss.
  • Android and iOS app.

Binance

Binance is one of the largest cryptocurrency exchanges in the world, founded in 2017. Reliable, popular and loved by almost all traders. The daily trading volume on the exchange reaches more than $1 billion, and about 1,400,000 orders are processed every second. The company offers the lowest trading commission.

The exchange has earned the trust of the cryptocurrency community primarily because of its strong team of developers, who are masters of their craft.

Such a long time at the top of the rankings and the many positive reviews can be attributed to several factors: ease of use - Binance was one of the first major exchanges where you could register on the platform with just an email address and get immediate access to a wide range of tokens - the ability to process a large number of transactions, low commissions, the global focus of its business and the availability of the platform in several languages, and very low trading costs:

  • 740 different crypto and fiat pairs, including own token BNB.
  • Binance offers competitive trading fees (commissions): 0.1% on each side of the trade, or 0.075% if you are using your Binance tokens (BNB).
  • Trust Wallet mobile application.
  • Bank transfer, debit/credit cards, various P2P payment channels.
  • The exchange launched CryptoSafe Alliance (CSA). This initiative will bring together exchanges, blockchain protocols, cybersecurity experts, and regulatory compliance companies. It is the first comprehensive threat monitoring and protection tool in a decentralized data exchange environment.
  • A free app is available in Google Play Store or the App Store.

Kraken

Kraken was founded in 2011 by Jesse Powell. The platform was officially launched in 2013. Kraken has managed to gain the trust of its users. There have been no successful hacker attacks against it.

Kraken is a self-regulated exchange, which means that it develops its own security policies and trading rules. However, it complies with rules and regulations in many supported jurisdictions.

To start trading on the exchange, you must make a deposit in cryptocurrency or from your bank card (only for customers of Kraken partner banks). However, in order to make a deposit, you must pass the mandatory verification. By default, it is not possible to open a demo account on the exchange.

Leverage is available on the exchange. Leverage is the ability to place orders in excess of the user's existing balance. This can result in a higher profit than placing an order using only the portfolio balance. Trades under these conditions are referred to as "margin trading":

  • 8 tokens are available.
  • Transactions under 50,000 units of a particular currency are subject to a commission of 0.16% for the seller and 0.26% for the buyer. For sums over 50,000 units, commissions are reduced to 0.14% and 0.24% respectively.
  • No crypto wallet is offered on the site.
  • Crypto wallets and money transfers via bank transfer. Deposit/withdrawal via bank cards is not available.
  • The exchange offers users two-factor authentication, PGP encryption, and global settings lock, which prevents any account changes within a certain period of time.
  • Kraken Pro and Kraken Futures applications.

Bittrex

Bittrex Exchange (Bitrix) is a well-known and reliable trading platform in the market. You can trade cryptocurrencies on it without worries, the liquidity of the site is high and the security is second to none. Many young and promising projects want to join the site, because this source opens the door to the digital asset market for them.

As for the security of storing money on the exchange, Bittrex recommends the use of two-factor authentication, which has become an industry standard. There are no known cases of serious hacker attacks on Bittrex.

Bittrex user reviews are mostly positive. Users like the feeling of dealing with a real market and the amount of cryptocurrencies on offer. Messages can be found in which users complain about the slow response time of the helpdesk, but the number of such messages is not large.

Its main feature and competitive advantage is the large number of cryptocurrencies available for trading: more than 250 as of today. However, it should be noted that the company does not accept fiat deposits, which may be a limitation for inexperienced users. The online interface will appeal to even the most sophisticated traders. In addition, Bittrex is the best choice for those who want to trade rare coins. This makes Bittrex one of the largest cryptocurrency exchanges:

  • 250+ trading pairs are available.
  • Topping up your euro account is available via SEPA credit transfer, international bank transfer, bank card. Fiat funds withdrawal is possible to a bank account using an international bank transfer, and for euros, a SEPA credit transfer is supported. The withdrawal commission depends on the chosen currency: in bitcoin, it is 0.0005 BTC, in Ethereum - 0.00600000 ETH. The site has a fixed trading fee of 0.25% of the total value of the order.
  • No crypto wallet.
  • Bank transfers, credit/debit cards.
  • Two-factor authentication (2FA), IP check, which requires an email confirmation of entry from a new IP-address, IP whitelists, Cold storage for 80%-90% assets.
  • There are two apps for Android and iOS respectively: Bittrex Global and Bittrex.

BitMex 

BitMEX, short for Bitcoin Mercantile Exchange, is an advanced cryptocurrency trading and exchange platform. Unlike many cryptocurrency exchanges that trade one cryptocurrency for another, BitMEX focuses on derivatives trading: perpetual contracts and daily and weekly futures contracts.

Cryptocurrency futures are an agreement to buy or sell the underlying asset (cryptocurrency) at a predetermined price on a specific date in the future. Perpetual contracts: are similar to futures contracts, except that they have no expiration or end date.

BitMEX is a trusted cryptocurrency exchange for advanced users interested in margin trading in cryptocurrencies. The company is constantly improving, adding new features and expanding the list of available assets. You do not need to undergo any verification to trade. Bitmex uses a cold, multi-signature wallet to store clients' money. All withdrawals are processed manually once a day at a set time:

  • 55 trading pairs.
  • BitMEX does not charge any fees for deposits or withdrawals. When withdrawing BTC, a minimum Bitcoin Network commission is applied; commissions for takers are 0.075% of the total order value, while makers are paid an additional 0.025% for each trade.
  • Crypto BitMEX wallet.
  • Beyond virtual currencies, BitMEX does not accept any other deposits.
  • Funds are stored in cold wallets; Two-factor authentication; Registration via SMS notifications; Multi-signature wallets for transactions; Email communications are encrypted using PGP encryption.
  • BitMEX Mobile launched in September 2020.

Bitfinex

Bitfinex is a fairly large cryptocurrency exchange that has been providing its services to traders since 2012. This platform for trading cryptocurrency assets operates under the jurisdiction of Hong Kong. In its already relatively long history, the exchange has already endured a few trials: repeated attempts of hacker attacks, blocking the inflow and outflow of funds from foreign banks. But despite all the difficulties, Bitfinex has become one of the most popular platforms for trading digital assets in the world.

Users are protected by two-factor authentication, which means that attackers do not need to know a trader's password to steal money. In addition, Bitfinex is one of the few exchanges that limit the withdrawal limit if the user logs into the account from an unknown IP address. It is also worth noting that only 0.5% of the exchange's assets are available for trading, while the remaining 99.5% is kept in a safe place - a cold wallet.

For new traders, the site developers have created an introductory tour that explains in detail the features of the exchange. The Bitfinex interface is translated into many of the world's popular languages:

  • Over 140 coins and 300 trading pairs.
  • No additional payments for deposits and withdrawals in digital coins. When you deposit USD, you will have to pay a commission of 0.1%, but not less than $ 20;Minimum fee for withdrawing fiat money is $ 60; With the minimum currency turnover per month, the trading fee is 0.1% for the maker and 0.2% for the taker.
  • Users are offered three wallets to choose from - Exchange Wallet, Margin Wallet, and Financing Wallet.
  • In addition to digital currencies, bank transfers and card withdrawals are available to users.
  • Only 0.5% of crypto assets are kept online to support daily transactions. The rest of the coins are kept in cold wallets out of the reach of hackers. For these wallets to become available, manual authorization of several members of the management team is required.

Localbitcoins

LocalBitcoins is a P2P exchange to buy bitcoin for offline fiat money, online e-money and some altcoins. It is considered a reliable platform for direct and decentralized exchange between trading parties. It allows you to quickly buy bitcoin through a variety of convenient methods.

An important feature of the LocalBitcoins cryptocurrency exchange is that the site is 100% decentralized. People from all over the world trade with each other and LocalBitcoins acts as an intermediary, ensuring that the terms of the transaction are respected by both parties.

Although LocalBitcoins is a cryptocurrency exchange, it is not suitable for high-frequency speculative trading. It is a platform for those who want to buy/sell tokens at the cheapest price.

Privacy: the only information required is an email address for account registration. No personal authentication is required and transactions can be made directly with another user, not with a third party:

  • The service does not charge a commission from the buyer.  For sellers, there is a set commission of 1% on each sale.
  • Bank transfers, banking cards, electronic systems.
  • The security of the transaction is ensured by the escrow method, which has proven to be highly effective; User accounts are protected by two-factor authentication.

Poloniex 

Poloniex is one of the largest cryptocurrency exchanges in the world. It offers the largest trading volumes for most Altcoins, which can be exchanged for Bitcoin.

One of the main advantages of the stock market is the decrease in commissions. This is probably the most important factor for large investors. This means that the higher the number of transactions between users, the lower the commission.

The cryptocurrency exchange Poloniex, created in the United States in 2014, remains one of the most popular platforms among traders and investors.

It is worth noting that the Poloniex cryptocurrency exchange has a smooth and pleasant design, a comfortable and intuitive interface that is ideal for both experienced traders and beginners. In addition to the traditional spot exchange, on Poloniex you will find options (a section) for margin trading, and also a section for those who want to borrow their funds, something that has recently appeared on the market:

  • 100+ currency pairs.
  • All deposits are allowed without any additional charges; The withdrawal fee is fixed, and it depends on the type of the currency; commissions are from 0 to 0.25%. Maker commission is from 0% to 0.15%; taker commission is from 0.1% to 0.25%. The higher is the volume of completed transactions in one month, the lower is the commission for all subsequently completed transactions.
  • Own Wallet.
  • Replenishment of an account with a bank card or withdrawal to a card are not available for users of some countries.
  • The administration highly recommends adding two-factor authentication to your account.
  • Mobile application.

Kucoin

Currently, the KuCoin cryptocurrency exchange is based in the jurisdiction of Hong Kong. A large list of promising cryptocurrencies are currently traded on the site. A unique feature of the KuCoin exchange is that every day it shares half of its profits with everyone who has an internal token in their wallet, the KuCoin Shares cryptocurrency (KCS). In addition, KuCoin, like Binance, charges very low commissions on transactions, and discounts are given to holders of KuCoin shares.

The interface of the Kucoin exchange is an absolutely standard user-friendly panel with a typical layout of windows and interfaces. Any user who has dealt with the exchange at least once can easily figure out how to trade on the KuCoin exchange.

If you study KuCoin user reviews, you will generally get a positive impression. Users usually leave positive reviews. Among the positive opinions about the KuCoin exchange, the following stand out above all: low commissions for transactions and withdrawals, the possibility to benefit from the savings on the KCS token, convenient and understandable trading interface for a beginner, different language versions (about ten standard translations), increased security of the exchange engine:

  • 200+ coins and 450+ trading pairs.
  • All deposits are free on the site, and there is a fixed fee for withdrawals; KuCoin offers a flat commission of 0.10%, which is less than the industry average.
  • Inner site crypto wallet.
  • A variety of payment methods supported by P2P fiat services.
  • The exchange offers you the option to set up two-factor authentication by Google Authenticator.
  • Mobile application .

Bitpanda

Currently, the presented cryptocurrency exchange is considered to be one of the most reliable in the world, and it is aimed at traders from European countries. US citizens, for example, can not work on it. Before starting the auction, you must provide information about yourself and confirm it. Bitpanda verification is divided into 3 levels: bronze, silver and gold. The limits of withdrawals depend on these levels.

The presented platform has many advantages, and these are the ones that have made it very popular. Firstly, the support of the euro is a great advantage, as absolutely everyone is used to using fiat money. Secondly, the fees charged by the service remain low, which attracts merchants. Thirdly, not so long ago an affiliate program was launched. It allows you to earn money by attracting new users. Fourthly, fast registration is an undeniable advantage. Fifth, the site has an intuitive interface and works stably:

  • Bitcoin, Ethereum and 30+ digital assets.
  • The trading commission of the service depends on the type of currency and the nature of the transaction. When buying bitcoins, you pay 1.49%, when selling - 1.29%.
  • Commission for replenishment and withdrawal is fixed for each coin and is debited from the account.
  • Bitpanda crypto wallet.
  • You can make a deposit either by bank transfer, credit cards or electronic payment systems.
  • Bitpanda refers to systems that independently manage user wallet keys. Besides, the following security measures are offered: fund cold storage session control. Every login attempt from a new device requires two-factor authentication confirmation, authentication and validation via email.

Coinmama

Coinbase is a popular US cryptocurrency exchange. It was launched in the summer of 2012, when few people knew about cryptocurrencies and the price of bitcoin was only $10. Today, Coinbase is deservedly on the list of leading cryptocurrency exchanges, has a solid trading volume and high capitalization. The number of users exceeds 56 million and cryptocurrency trading is available to residents of more than 100 countries. Fiat's work is also available on the exchange.

Coinbase is the most conservative and regulated exchange. The company focuses on working exclusively in the legal field and has already obtained a license to work in most U.S. states, including New York, where it is very difficult to obtain a work permit.

Despite these strict trading rules, users are convinced of the high level of protection of customer assets at Coinbase. 98% of users' money is stored in offline hardware wallets, and the remaining cryptocurrencies are insured. In the event of fraud, Coinbase guarantees its customers a full refund of lost funds under an insurance policy.

Coinbase actively invests by acquiring various cryptocurrency projects.

  • The website sells Bitcoin, Ethereum. Litecoin, Bitcoin Cash, Qtum, Ripple, Ethereum Classic, Cardano, Tezos and EOS.
  • The use of credit or debit cards implies a service charge of 5%. Besides, the charges 3.90% for buying coins and 0.9% for selling these.
  • No Wallet.
  • Credit/debit cards and bank transfers; It supports SEPA and SWIFT payments.
  • Coinmama is a reputable company with a secure site using Trust Guard and Comodo technologies. Both services have confirmed that 256-bit SSL encryption is actively used on pages containing personal information.
  • Mobile app.

Paxful

Paxful's mission is to provide people with an easy and secure platform to buy and sell Bitcoin. The company is registered under U.S. law. (Delaware) as a money transmitter company in the U.S. Treasury Department's Financial Crimes Enforcement Network.

Paxful, like LocalBitcoins, is a peer-to-peer cryptocurrency platform where users transact with each other. Like most similar platforms, Paxful does not store funds and acts as an intermediary for users. Paxful helps connect buyers and sellers with support for over 300 different payment methods.

On Paxful you can sell bitcoins by setting your price and choosing the payment method.

The platform supports its own mobile wallet (Paxful Wallet), available on iOS and Android, which allows you to easily and conveniently send, receive and store bitcoin, as well as track open transactions on Paxful:

  • Bitcoin and Tether as assets.
  • Commissions are applied for crypto selling:0.5% for bank transfers; 1% for bank cards and e-payments; 3-5% for gift cards; No commission is charged for buying cybercurrencies; Paxful will charge a transfer fee for sending funds to an external wallet. $ 0 - $ 9.99 = 0.0001 BTC$ 10 - $ 19.99 = 0.0002 BTC;More than $ 20 = 0.0005 BTC.
  • The Paxful Wallet App makes it easy to store and manage coins with your mobile wallet.
  • More than 300 ways to buy coins, including bank transfer, credit and debit cards, PayPal, Western Union, and even Amazon, iTunes or Steam gift cards.
  • The security of the system is ensured by two-factor authentication, depositing and the obligatory verification procedure when working with large amounts.
  • Paxful Wallet for Android and iOS.

HitBTC

HitBTC exchange is a great trading platform for cryptocurrency transactions. It is distinguished by its user-friendly interface, reliability and support of modern tools for a comfortable working environment.

For transactions with digital assets, HitBTC exchange does not require any mandatory verification of users. All registered customers can trade cryptocurrency assets freely using the trading platform's toolkit. However, to gain full access to all the exchange's functions, users still need to authenticate, all for their security.

HitBTC exchange has a number of advantages that allow it to rank among the largest platforms on the cryptocurrency market. There is a convenient set of tools for trading, as well as the ability to buy tokens of projects that are at the stage of ICO. Developers regularly list projects with potential. The credibility of the exchange is confirmed by positive customer feedback and a long period of work on the market of digital assets:

  • 800 currency pairs.
  • No commissions for deposits and a fixed commission for withdrawals depending on the coin; HitBTC uses a multi-level trading fee calculation system. The more a user trades, the lower his commission will be.
  • No crypto wallet.
  • The HitBTC exchange can be replenished exclusively with digital currency.
  • The platform provides 2-factor authentication, high-end encryption technology and cold storage of funds.
  • No application.

Cryptocurrencies attract traders because of their exchange rate volatility. It can fluctuate by tens or even hundreds of percentage points every day. This price volatility has made the digital asset a favorite of speculators. Users trade cryptocurrencies to generate quick profits. The most suitable venues for this are stock exchanges. Each has its own advantages and disadvantages. Choose the site that suits you best; each is good in its own way.

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