Cryptocurrency trading platform Nigeria 2021
          

Nowadays, the word "crypto-currency" divides us all into two camps: some people know absolutely nothing about it, while others are already making all the money they can. If you want to start studying this innovative phenomenon of our financial system, you must first choose a platform to work and study on.

Crypto-currency trading is growing and taking root more and more, offering modern and advanced features. As there are more and more exchanges and options available to traders, finding the exchange you want to trade on can become a difficult task.

Coinbase

Coinbase was created relatively recently, but it has already made a place for itself in the list of the best crypto-currency exchanges in the world. Such results have been possible thanks to the available interface languages and other advantages of this platform.

According to the assessments of the Coinbase exchange, one of its main advantages is the availability of convenient services for work: current exchange rates, charts, news, descriptions, transaction history, etc. Considering the complexity of legislation in different countries in 2021, this crypto-currency exchange also has an official mirror in case the main site is blocked.

Of course, the whole process of trading and exchanging crypto-currencies depends largely 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 format of crypto-currencies and e-wallets, but also the possibilities of interaction 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  • You can pay funds that can be deposited and withdrawn using a bank card, transfer and a range of payment systems.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 crypto-currency exchanges in the world and was established in 2017. It is 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 commission per transaction.

The exchange has gained the trust of the cryptocurrency community largely due to a strong team of developers who know their stuff very well.

Its longstanding presence at the top of the rankings and its many positive reviews can be explained by several factors: Ease of use - Binance was one of the first major exchanges where you only needed to use your email address to register on the platform and get immediate access to a wide range of tokens; responsiveness in processing a large number of transactions; low commissions; a holistic approach to 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 users. No successful hacks have been recorded on the exchange.

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

To start trading in the stock market, you need to make a deposit in crypto-currency or with a bank card (only for customers of Kraken partner banks). But to make a deposit, you need to go through a mandatory verification. As a rule, it is not possible to open a demo account in the stock market.

Leverage is available in the stock market. Leverage is the ability to place orders larger than the user's available balance. This can result in higher profits than if you place an order with only the balance in your portfolio. Trading under these 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 in the market. Here you can trade crypto-currencies without fear, the liquidity of the site is high and the security is unmatched. Many young and promising projects want to join the site, as this resource opens doors to the market of digital assets.

When it comes 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 have been no major hacking incidents reported on Bittrex.

Bittrex user reviews are overwhelmingly positive. Users like the feeling of trading with a real market and the amount of crypto-currencies offered. Although there are messages in which users complain about the slow response time of the support, these messages are not very numerous.

Its main feature and competitive advantage is the large number of crypto-currencies available for trading: more than 250 at the moment. However, it should be noted that the company does not accept fiat deposits, which can be a constraint for inexperienced users. The web interface will also appeal to the most demanding traders. In addition, Bittrex is the go-to address for anyone who wants to trade rare coins. This makes Bittrex one of the largest crypto-currency 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 trading platform and crypto-currency exchange. Unlike many crypto-currency exchanges that trade one crypto-currency against another, BitMEX focuses on trading derivatives: open-ended contracts and daily and weekly futures.

Crypto-currency futures are an agreement to buy or sell an underlying asset (crypto-currency) at a price set in advance at a specific future date. Perpetual contracts - These are similar to futures, except that they have no expiration or maturity.

BitMEX is a trusted crypto-currency exchange for advanced users interested in trading crypto-currencies on margin. The company is constantly improving, adding new features and expanding the list of available assets. You don't need to get verified to work. Bitmex uses cold wallets with multiple signatures to store customer funds. All withdrawals are processed manually once a day at the 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 crypto-currency exchange that has been operating for traders since 2012. This crypto-currency exchange platform is subject to the jurisdiction of Hong Kong. During its already relatively long history, the exchange has gone through many hardships: 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.

The user is protected by two-factor authentication. This means that it is not enough for hackers to know the trader's password to steal money. In addition, Bitfinex is one of the few exchanges to 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, with the remaining 99.5% kept in a safe place: in a cold wallet.

For new traders, the site's developers have created an introductory tour that explains the functions of the exchange in detail. The Bitfinex interface has been translated into many common 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 for buying bitcoins with offline fiat money, online electronic money and some altcoins. It is considered a reliable platform for direct and decentralized exchange between parties of a transaction. In this way, you can buy bitcoins quickly and in various convenient ways.

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 and ensures that the terms of the transaction are met by both parties.

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

Data protection: the only information required is an email address to register an account. No personal authentication is required and transactions can be made directly with another user rather than 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 crypto-currency exchanges in the world. It offers the largest trading volume for most altcoins that can be exchanged for bitcoin.

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

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

It is worth noting that the Poloniex crypto-currency exchange has a beautiful smooth design, a convenient and intuitive interface that is perfect for both experienced traders and beginners. In addition to the traditional cash exchange, on Poloniex you will find options (section) for margin trading as well as a section for those who want to lend their money, which 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 crypto-currencies are 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 in their wallet: the KuCoin Shares (KCS) crypto currency. Also, like Binance, KuCoin charges very low transaction fees and discounts are offered to KuCoin share holders.

The interface of the KuCoin exchange is an absolutely standard and user-friendly dashboard, 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 work on the KuCoin exchange.

If you study KuCoin user reviews, you will usually get a positive impression. Users often leave positive reviews. Among the positive reviews of the KuCoin exchange, the most common are: low transaction and withdrawal fees, the ability to benefit from KCS token storage, a convenient and understandable trading interface for beginners, several 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 one of the most reliable in the world and is aimed at traders from European countries. American citizens, for example, are not allowed to work there. Before starting the auction, you need to provide information about your identity 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 that have contributed to its great popularity. First of all, the support of the euro is a major advantage, as absolutely everyone is used to using fiat currency. Secondly, the fees charged by the service remain low, which attracts traders. Thirdly, an affiliate program was introduced not so long ago. This allows you to earn money by attracting new users. Fourth, the speed of registration is a definite advantage. Fifth, the site has an intuitive user interface and works in a stable way:

  • 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 crypto-currency exchange. It was launched in the summer of 2012, at a time when few people knew about crypto-currencies and the price of bitcoin was only $10. Today, Coinbase deserves its place in the list of leading crypto-currency exchanges, with solid trading volume and strong capitalization. The number of users exceeds 56 million people and crypto-currency trading is available to residents of more than 100 countries. In addition, fiat securities are also available on the exchange.

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

Despite these strict operating rules, users are convinced of the high level of protection of Coinbase customers' assets. 98% of users' funds are stored in offline physical wallets and the rest of the crypto-currencies are insured. In case of fraudulent activity, Coinbase guarantees its customers a full refund of lost funds under the insurance policy.

Coinbase is actively investing and acquiring several crypto-currency 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 Services Business with the Financial Crimes Enforcement Network of the U.S. Department of Treasury.

Paxful, like LocalBitcoins, is a peer-to-peer crypto-currency platform where users transact with each other. Like most similar platforms, Paxful does not store money and acts as a middleman for users. Paxful helps buyers and sellers by supporting 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), available on iOS and Android, which makes it easy and simple to 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

HitBTC exchange is an excellent trading platform for crypto-currency transactions. It features a user-friendly interface, reliability and support for modern tools for a comfortable working environment.

For trading digital assets, HitBTC exchange does not require mandatory user verification. All registered customers can freely trade crypto-currencies using the trading platform's tools. However, in order to have full access to all the exchange's features, users must continue to verify themselves to ensure their safety.

HitBTC exchange has a number of advantages that allow it to occupy a high place among the largest platforms in the cryptocurrency market. There is a series of convenient tools for trading, as well as the possibility to buy tokens of projects undergoing ICO. Developers regularly list projects with potential. The reliability of the exchange is confirmed by positive feedback from customers and long activity on the digital assets 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 the volatility of the exchange rate. It can vary by dozens or even hundreds of percentage points per day. This price volatility has made digital assets a popular instrument for speculators. Users trade crypto-currencies with the aim of making quick profits. The most convenient place to do this are exchanges. Each one has its own advantages and disadvantages. Choose the site that suits you best, as each is good in its own way.

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