Best cryptocurrency exchanges Nigeria 2021
          

Today, the word "cryptocurrency" divides us all into two camps: some know nothing about it, while others are already making a lot of money with it. If you are thinking of learning about this innovative phenomenon in our financial system, you first need to choose a platform to work on and learn about it.

Cryptocurrency trading continues to grow and take root, offering modern, cutting-edge opportunities. As more exchanges and options become available to traders, finding an exchange to trade on can be a challenge.

Coinbase

Coinbase was founded relatively recently, but has already earned a solid position on the list of the world's best cryptocurrency exchanges. These results have been made possible by the available interface languages as well as other advantages of the platform.

According to reviews of Coinbase exchange, one of its significant 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 legislation in different countries in 2021, this cryptocurrency exchange has its official mirror in case the main site is blocked.

Of course, the whole process of trading and exchanging cryptocurrencies depends heavily on the convenience of depositing and withdrawing funds. According to Coinbase review summaries, what users value most is the availability of sufficient deposit and withdrawal options, not only in cryptocurrency and e-wallet format, but also ways to interact with 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  • You can pay funds that can be deposited and withdrawn using a bank card, transfer and a range of payment systems.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. It is reliable, popular, and loved by almost all traders. Daily trading volume on the exchange reaches over $1 billion, and about 1,400,000 orders are processed per second. The company offers the lowest transaction fee.

The exchange has gained the trust of the cryptocurrency community, mainly due to its strong development team, which knows its business very well.

Its long stay at the top of the rankings and its 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 immediate access to a wide variety of tokens; its responsiveness in handling a large number of transactions; low commissions; the global focus of its business and the availability of the platform in several languages; very low trading fees:

  • 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 has not been a single successful hacker attack against the exchange.

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

To start trading on the exchange, you need to make a deposit in cryptocurrency or with a bank card (only for customers of Kraken's partner banks). But to make a deposit, you need to go through a mandatory verification. There is no standard 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 existing balance between users. This can result in higher profits than placing an order using only the wallet balance. Trading on these terms is called "margin trading":

  • 8 tokens are available for.
  • 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 is a well-known and reliable marketplace. You can trade cryptocurrencies on it without any worries, its liquidity is high and its security is unmatched. Many young and promising projects want to join the site, because it opens the door to the digital goods market for them.

With regard to 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 hacking attacks against Bittrex.

The feedback from users about Bittrex is mostly positive. Users like the feeling of dealing with a real market, as well as the number of cryptocurrencies on offer. You can find reports in which users complain about the slow response time of the support team, but the number of such reports is low.

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

Cryptocurrency futures contracts are agreements to buy or sell an underlying asset (cryptocurrency) at a predetermined price on a specific date in the future.

BitMEX is a trusted cryptocurrency exchange for advanced users interested in trading cryptocurrencies on the margin. The company is constantly improving, adding new features and expanding the list of available assets. No verification is required for trading. Bitmex uses multiple companies and cold wallets to store customer funds. All withdrawals are processed manually, once a day, at a 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 providing its services to traders since 2012. It is a cryptocurrency trading platform that operates under the jurisdiction of Hong Kong. During its already relatively long history, the exchange has gone through many trials: repeated hacking attempts, blocked deposits, and withdrawals from foreign banks. But despite all the difficulties, Bitfinex has become one of the most popular platforms for trading digital assets in the world.

User protection is provided by two-factor authentication, which means that it is not enough for attackers to know a merchant's password to steal funds. In addition, Bitfinex is one of the few exchanges that limit withdrawal limits if a user logs into an account from an unknown IP address. It is also worth noting that only 0.5% of the exchange's assets are available for trading, and the remaining 99.5% are kept in a safe place: a cold wallet.

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

  • 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 for buying bitcoins by offline fiat money, online e-money and some altcoins. It is considered a reliable platform for direct and decentralized exchange between the parties involved in the transaction. This allows you to quickly buy bitcoins using a variety of convenient methods.

A key feature of the LocalBitcoins cryptocurrency exchange is that the site is 100% decentralized. People all trade worldwide, and LocalBitcoins acts as an intermediary, ensuring that the terms of the transaction are met by both parties.

While LocalBitcoins is a cryptocurrency exchange, it is not suitable for speculative transactions that involve high-frequency trading. It is a platform for those who want to buy/sell tokens at the best possible price.

Privacy: The only information required is an e-mail address for account registration. Personal authentication is not 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 provides the highest trade volumes for most altcoins, which can be exchanged for Bitcoin.

One of the main advantages of an exchange is reduced commissions. This is probably the most significant factor for large investors. This means that the higher the value of the transaction between users, the lower the commission.

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

It is noteworthy that the Poloniex cryptocurrency exchange has a smooth and pleasant design and a friendly and intuitive interface, which is ideal for both experienced traders and beginners. In addition to the traditional spot exchange, at Poloniex you will find options (section) for trading on margin, as well as a section for those who are willing to lend 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, cryptocurrency exchange KuCoin is based in the jurisdiction of Hong Kong. A large list of promising cryptocurrencies is currently traded on the site. A unique feature of the KuCoin exchange is that it shares half of its profits daily with anyone who has an internal token - KuCoin Shares (KCS) - in their wallet. Also, like Binance, KuCoin charges very low transaction fees, and discounts are available to KuCoin stock holders.

The KuCoin Exchange interface is a completely standard, user-friendly control panel with a familiar layout of windows and interfaces. Any user who has had at least some experience with the exchange will easily understand how to operate KuCoin Exchange.

If you study the KuCoin user reviews, you will get a generally positive impression. Users usually leave positive reviews. Among the positive reviews of the KuCoin exchange are most often indicated: low transaction and withdrawal fees, the possibility to benefit from the storage of the KCS token, friendly and understandable business interface for the beginner, multilingual versions (about ten standard translations), increased security of the exchange mechanism:

  • 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

It is currently considered one of the most reliable cryptocurrency exchanges in the world and is aimed at traders from European countries. US citizens, for example, are not allowed to work there. Before you start trading, you must provide and verify your credentials. Bitpanda's verification is divided into 3 levels: bronze, silver and gold. The withdrawal limits depend on these levels.

The platform has many advantages, and they are what have made it so popular. First of all, the euro support is a big advantage, since absolutely everyone is used to using fiat money. Secondly, the fees charged for the service remain low, which attracts merchants. Thirdly, not long ago an affiliate program was launched. Thanks to it, you can earn money by attracting new users. Fourth, the quick registration is a definite 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 cryptocurrency exchange in the United States. 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 among the top cryptocurrency exchanges, with solid trading volume and a high market capitalization. The number of users exceeds 56 million and cryptocurrency trading is available to residents of more than 100 countries. Fiat can also be traded on the exchange.

Coinbase is the most conservative and regulated exchange. The company relies solely on operating within the legal framework and has already been licensed to operate in most US states, including New York, where it is very difficult to obtain a document to operate.

Despite these strict operational rules, users are convinced by the high level of protection of Coinbase customers' assets. 98% of users' funds are stored in offline hardware wallets, and the rest of the cryptocurrency is guaranteed. In the event of any fraudulent activity, Coinbase guarantees its customers a full refund of their lost funds as part of its insurance policy.

Coinbase is actively investing by acquiring 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 Bitcoin. The company is registered under U.S. (Delaware) law as a money transfer operator in the Treasury Department's Financial Crimes Enforcement Network. (Delaware) as a money transfer operator in the U.S. Department of Treasury's Financial Crimes Enforcement Network.

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

At Paxful you can sell bitcoins, setting your own price and choosing your own payment method.

The platform supports its own mobile wallet (Paxful Wallet), which is available on iOS and Android, and allows easy and simple sending, receiving, and storing of bitcoins, as well as tracking of transactions opened 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 is one of the leading cryptocurrency trading platforms. It stands out for its user-friendly interface, reliability, and support of modern tools for convenient operation.

HitBTC does not require users to be verified to trade digital assets. All registered customers can freely trade cryptocurrency assets using the trading platform's suite of tools. However, users will still need verification to access all features of the exchange, all for their safety.

HitBTC has a number of advantages that place it in a prominent position among the largest cryptocurrency exchanges. It offers a convenient set of trading tools, as well as the opportunity to buy project tokens at the ICO stage. The promoters regularly add potential projects to the list. The exchange's reliability is confirmed by positive customer feedback and a long period of operation on the digital asset market:

  • 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 its volatility. It can fluctuate by tens or even hundreds of points per day. This price volatility has made digital assets a favorite tool for speculators. Users trade cryptocurrencies for quick profits. The most convenient places to do this are stock exchanges. Each has its own set of advantages and disadvantages. Choose a venue that suits you, each is good in its own way.

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