Cryptocurrency platforms Nigeria 2021
          

Currently, the word "cryptocurrencies" divides us all into two camps: some know nothing about it at all, while others are already taking full advantage of it. If you intend to study this innovative phenomenon of our financial system, you must first choose a platform on which you will work and study.

Cryptocurrency trading continues to grow and take root, offering modern and advanced features. As more and 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 gain a solid place on the list of the best cryptocurrency exchanges in the world. Such results were possible thanks to the available interface languages, as well as other advantages of this platform.

According to reviews of the Coinbase exchange, one of its major advantages is the availability of convenient services to work with: updated exchange rates, charts, news, descriptions, transaction history, etc. Moreover, given the complicated 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process of trading and exchanging cryptocurrencies depends heavily on the ease with which money can be deposited and withdrawn. According to the summary of the Coinbase review, users especially value the availability of sufficient opportunities to deposit and withdraw earned money in the form of not only cryptocurrencies and e-wallets, but also ways to deal with fiat currency (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  • You can pay funds that can be deposited and withdrawn using a bank card, transfer and a range of payment systems.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 over $1 billion, and about 1,400,000 orders are processed every second. The company offers the lowest trading commission.

The exchange has won the trust of the cryptocurrency community, mainly thanks to its strong team of developers, who know their trade very well.

Such a long period 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 one could sign up to 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; a global approach to your business and the availability of the platform in several languages; 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 on the exchange.

Kraken is a self-regulated exchange, meaning it develops its own security policies and business 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 from your bank card (only for customers of Kraken's partner bank). 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 stock market. Leverage is the ability to place orders that are larger than the user's existing balance. This can lead to a higher profit than placing an order using only the portfolio balance. Trading under such conditions is called "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 worry, the liquidity of the site is high and the security is unmatched. Many promising young projects want to join the site, as this source opens the door to the market for digital assets.

For the security of storing money on the exchange, Bittrex recommends the use of two-factor authentication, which has now 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 marketplace and the amount of cryptocurrencies offered. You can find posts where users complain about the slow response of the help service, but the number of these posts is not large.

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 can be a limitation for inexperienced users. The online interface will attract even sophisticated traders. Moreover, Bittrex is the best choice for those who want to trade rare coins. This makes Bittrex one of the largest exchanges for cryptocurrencies:

  • 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 a sophisticated trading platform and exchange for cryptocurrencies. Unlike many cryptocurrency exchanges that trade one cryptocurrency for another, BitMEX focuses on trading derivatives: perpetual contracts, as well as daily and weekly futures contracts.

Cryptocurrency futures are an agreement to buy or sell the underlying asset (cryptocurrency) at a predetermined price on a certain date in the future.Perpetual contracts - similar to futures, except that they have no expiration or end 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. You do not need to undergo verification to operate. Bitmex uses a cold wallet with multiple signatures to store customers' money. All withdrawals are processed manually at a specified time, once a day:

  • 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 platform for trading cryptocurrency assets operates under the jurisdiction of Hong Kong. In its already relatively long history, the exchange has been through a lot: repeated attempts at hacking, blocking the import and export of funds from foreign banks. But despite all the difficulties, Bitfinex has become one of the most popular digital asset exchange platforms 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. Moreover, Bitfinex is one of the few exchanges that limits 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, 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 course that explains the exchange's features in detail. Bitfinex's interface has been translated into many popular languages around 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 for offline fiat currency, online e-money and some altcoins. It is considered a reliable platform for direct and decentralized exchange between trading parties. You can use it to quickly buy bitcoins through a variety of convenient methods.

One of the main features 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 met 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 most advantageous 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 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 highest trading volumes for most Altcoins, which can be exchanged for Bitcoins.

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

Founded in the US in 2014, the crypto currency exchange Poloniex remains one of the most popular platforms among traders and investors.

It is worth noting that the Poloniex cryptocurrency exchange has a nice, smooth design, a comfortable and intuitive interface that is ideal for both experienced traders and beginners. In addition to traditional spot trading, 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

Today, 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 anyone who has an internal token on its wallet - the KuCoin Shares (KCS) cryptocurrency. Moreover, like Binance, KuCoin 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 understand how to trade on the KuCoin exchange.

If you study the user reviews of KuCoin, you will generally get a positive impression. Users generally leave positive comments. Among the positive reviews of the KuCoin exchange, they most often point out: low commissions for transactions and withdrawals, the ability to take advantage of the storage of KCS tokens, a convenient and understandable trading interface for a beginner, different language versions (about ten normal 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 one of the most reliable in the world, and is aimed at traders from European countries. American citizens, for example, can not work there. Before starting the auction, you need to provide information about yourself and confirm it. Bitpanda verification is divided into 3 levels: bronze, silver and gold. The withdrawal limits depend on these levels.

The presented platform has many advantages, and these have made it so popular. First of all, the support of the euro is a huge plus, because absolutely everyone is used to using cash. Second, the fees charged by the service remain low, which attracts merchants. Third, an affiliate program was launched not too long ago. You can make money from it by attracting new users. Fourth, fast registration is a big advantage. Fifth, the site has an intuitive interface and operates in a stable manner:

  • 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 about cryptocurrencies and the price of bitcoin was only $10. Today, Coinbase is rightfully listed among the leading exchanges for cryptocurrencies, 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 exclusively on working in the legal sector and has already received permission to operate in most states in the US, including New York, where it is very difficult to obtain a work permit.

Despite these strict business rules, users are convinced of the high level of protection of customers' assets at Coinbase. 98% of users' funds are stored in offline physical portfolios and the rest of cryptocurrencies are insured. In case of fraud, Coinbase guarantees its customers a full refund of lost funds under an 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 bitcoins. The company is registered as a money transfer company under United States (Delaware) law with the United States Treasury Department's Financial Crimes Network.

Paxful, like LocalBitcoins, is a peer-to-peer cryptocurrency platform where users make transactions 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 your payment method.

The platform supports its own mobile wallet (Paxful Wallet), which is available on iOS and Android and allows you to easily send, receive and store bitcoins, 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

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

For trading digital assets, the HitBTC exchange does not require any mandatory verification of users. All registered customers can freely trade crypto-currency assets using the trading platform's toolkit. But in order to have full access to all the features of the exchange, users still need to undergo verification, all for your safety.

The HitBTC exchange has a number of advantages that allow it to be 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 from projects that are in the ICO phase. Developers regularly list projects with potential. The credibility of the exchange is confirmed by positive customer feedback and a long period of operation in 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.

Crypto currencies attract traders because of their volatility. It can fluctuate by tens or even hundreds of percent each day. This price volatility has made digital assets a favorite among speculators. Users trade cryptocurrencies to generate quick profits. The most appropriate places to do this are stock exchanges. Each has its own advantages and disadvantages. Choose the site you feel comfortable with; each is good in its own way.

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