Best cryptocurrency exchanges Nigeria 2021
          

The word "cryptocurrencies" today divides us all into two camps: some know nothing about it, while others are already making a living from it. If you want to learn about this innovative phenomenon of our financial system, you first need to choose a platform on which to work and learn.

Cryptocurrency trading continues to grow and take hold, offering modern and advanced features. With more and more swaps and options being offered to traders, finding the right swap to trade can be a difficult task.

Coinbase

Coinbase was founded relatively recently, but it has already positioned itself strongly on the list of the best cryptocurrency exchanges in the world. These results were made possible by the available user interface languages and other advantages of this platform.

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

Of course, the whole process of cryptocurrency trading and exchange largely depends on the convenience of depositing and withdrawing funds. According to the summaries of Coinbase reviews, users especially appreciate the availability of a sufficient number of options for crediting and withdrawing money earned in the form of cryptocurrencies and e-wallets, but also the possibility of interacting with fiat currencies (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  • You can pay funds that can be deposited and withdrawn using a bank card, transfer and a range of payment systems.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. It is reliable, popular and loved by almost all traders. The daily trading volume on the exchange exceeds $1 billion and about 1,400,000 orders are processed per second. The company offers the lowest commission per transaction.

The exchange has earned the trust of the cryptocurrency community, mainly thanks to a strong team of developers who know their craft very well.

Such a long time at the top of the rankings and many positive reviews can be attributed to several factors: Ease of use - Binance was one of the first major exchanges where people could register on the platform using only their email address and get instant access to a wide range of tokens; the responsiveness to handle a large number of transactions; low commissions; a global approach to their business and the availability of the platform in multiple languages; very low trading fees; and the ability to manage a large number of transactions:

  • 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. No successful hacker attacks on the exchange have been recorded.

Kraken is a self-regulated exchange, which means that it develops its own security policy and operating rules. However, it adheres to the rules and regulations of many supported jurisdictions.

To start trading on the exchange, you need to make a deposit in cryptocurrency or by credit card (only for customers of Kraken's partner banks). However, to make a deposit, you must go through a mandatory verification process. By default, there is no option to open a demo account on the exchange.

Leverage is available on the exchange. Leverage is the ability to place orders larger than the users existing balance. This can lead to increased profits compared to placing an order with 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 on the market. Here you can trade cryptocurrencies without hesitation, the liquidity of the site is high and the security is unsurpassed. Many young and promising projects want to join the site, as this resource opens the doors to the digital asset market for them.

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

Bittrex user reviews are predominantly positive. Users appreciate the feeling of dealing with a real market and the amount of cryptocurrencies on offer. You can find posts where users complain about the slow response time of support.

Its main feature and competitive advantage is the large number of cryptocurrencies available for trading: more than 250 at present. However, it should be noted that the company does not accept fiat deposits, which may be a limitation for inexperienced users. The web-based interface will also appeal to sophisticated traders. In addition, Bittrex is the first choice for those who want to trade rare coins. Bittrex is 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, an acronym for Bitcoin Mercantile Exchange, is an advanced cryptocurrency trading and exchange platform. Unlike many other cryptocurrency exchanges that exchange one cryptocurrency for another, BitMEX focuses on derivatives trading: perpetual contracts, as well as daily and weekly futures.

Cryptocurrency futures are an agreement to buy or sell an underlying asset (cryptocurrencies) at a predetermined price for a specific date in the future. Perpetual contracts - These are similar to futures, except that they have no expiration or maturity date.

BitMEX is a trusted cryptocurrency exchange for advanced users interested in trading cryptocurrencies on margin. The company is constantly improving, adding new features and expanding the list of available assets. There is no need to undergo verification in order to work. Bitmex uses cold wallets with multiple signatures to store client funds. All withdrawals are processed manually once a day at the specified 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 offering its services to traders since 2012. This cryptocurrency trading platform operates under the jurisdiction of Hong Kong. Over the course of its relatively long history, the exchange has been through a lot: repeated hacking attempts, blocking the inflow and outflow of funds from foreign banks. But despite all these difficulties, Bitfinex has become one of the most popular digital asset trading platforms in the world.

User protection is ensured by two-factor authentication, which means that it is not enough for attackers to know the trader's password to steal funds. 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. Also note that only 0.5% of the exchange's assets are available for trading, the other 99.5% is stored in a safe place - a cold wallet.

For new traders, the site developers have created an introductory walkthrough that explains in detail the features of the trading functionality. The Bitfinex interface has been translated into many popular world 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 that allows the purchase of bitcoins with offline fiat money, online e-money and some altcoins. It is considered a reliable platform for direct and decentralized exchange between parties to a transaction. This allows you to acquire Bitcoins quickly using a variety of convenient methods.

The main 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 speculative transactions with a high trading frequency. It is a platform for those who want to buy/sell tokens at the best price.

Privacy: The only information required is the e-mail address to register an account. No personal authentication is required and transactions can be made directly with another user and 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 volume for most altcoins that can be traded against bitcoins.

One of the main advantages of the stock market is the smaller size of the commissions. This is probably the most important factor for large investors. This means that the larger the amount of the transaction between users, the lower the commission.

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

It is worth mentioning that Poloniex cryptocurrency exchange has a nice and smooth design, practical and intuitive interface that is perfect for both experienced traders and beginners. In addition to the traditional spot exchange, you will also find options (section) for margin trading on Poloniex, as well as a section for those who want to lend their money, something that has only 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 website. A unique feature of the KuCoin exchange is that it shares half of its profits daily with all those who have an internal token in the wallet: the KuCoin Shares cryptocurrency (KCS). In addition, KuCoin, like Binance, charges very low transaction fees and discounts are given to holders of KuCoin shares.

The interface of the Kucoin exchange is an absolutely standard and user-friendly panel with the usual layout of windows and interfaces. Any user who has had at least one experience with the exchange can easily understand how to operate on the KuCoin exchange.

If you study KuCoin user reviews, you will usually come away with a positive impression. Users often leave positive feedback. Among the positive reviews of the KuCoin exchange, the following stand out most often: low transaction and withdrawal fees, the ability to benefit from the storage of the KCS token, a convenient and understandable trading interface for beginners, several language versions (about ten normal translations), increased security of the trading 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 is intended for traders from European countries. American citizens, for example, are not allowed to work there. Before starting the auction, you have to provide some data about yourself and confirm them. Bitpanda verification is divided into 3 levels: Bronze, Silver and Gold. Withdrawal limits depend on these levels.

The platform presented here has many advantages, which have justified its great popularity. Firstly, the support of the euro is a great advantage, as absolutely everyone is accustomed to using cash. Secondly, the service fees are low, which attracts merchants. Thirdly, not so long ago an affiliate program was introduced. With this program, you can earn money by attracting new users. Fourthly, fast registration is a clear advantage. Fifth, the website has an intuitive user 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 American cryptocurrency exchange. It was launched in the summer of 2012, when few people knew anything about cryptocurrencies and the price of Bitcoin was only $10. Today, Coinbase is rightly one of the leading cryptocurrency exchanges, has a solid trading volume and high capitalization. The number of users exceeds 56 million and cryptocurrency trading is accessible to residents of more than 100 countries. In addition, it is possible to work with fiat securities on the exchange.

Coinbase is the most conservative and regulated exchange. The company operates exclusively legally and has already obtained a license to operate in most U.S. states, including New York, where it is very difficult to obtain a document to operate.

Despite these strict operating rules, users are enthusiastic about the high level of protection of Coinbase's customer assets. 98% of users' funds are stored in offline hardware wallets, and the remaining cryptocurrencies are insured. In the event of fraudulent activity, Coinbase guarantees its customers full reimbursement of lost funds under the insurance policy.

Coinbase actively invests in and acquires several 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 a simple and secure platform to buy and sell Bitcoins. The company is registered under the laws of the United States (Delaware) as a money transfer operator with 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 by supporting more than 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), which is available for iOS and Android, and enables simple and direct sending, receiving and storing of Bitcoins, as well as tracking of 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 cryptocurrency trading platform. It stands out for its user-friendly interface, reliability and compatibility with modern tools for a comfortable working environment.

For trading digital assets, HitBTC exchange does not require mandatory verification from users. All registered customers can freely trade cryptocurrency assets using the trading platform's toolbox. However, to have full access to all features of the exchange, users must always verify themselves.

HitBTC exchange has a number of advantages that give it a high position among the largest platforms on the cryptocurrency market. Here there is a handy toolbox for trading and the ability to buy tokens of projects that are at the stage of ICO. Developers regularly list projects with potential. The reliability of the exchange is confirmed by positive customer feedback and a long history 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.

Cryptocurrency attracts traders because of the volatility of its exchange rate. The exchange rate can fluctuate by several dozen or even hundreds of percentage points every day. This price volatility has made digital assets a popular tool for speculators. Users trade cryptocurrencies for quick profits. The most convenient place to do this is the stock market. Each has its own advantages and disadvantages. Choose a site that suits you, because each is good in its own way.

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