Are you looking to buy or sell some cryptocurrency assets? If yes, you’ll need to use a Crypto exchange or marketplace. 

Fortunately, there are numerous crypto marketplaces to choose from. In this article we’ll talk about five of the best crypto exchanges you can work with in Nigeria.

Ready? Let’s get started!

What Are The Best Crypto Exchanges in Nigeria?

The crypto market has seen steady growth over the past decade, and it just keeps on growing.

According to one Statista report, the number of crypto users, worldwide, will hit an all-time high of 992.5 million by 2028.

Additionally, as another cryptocurrency industry report shows, from a total market value of $910.3 million in 2021, the market is expected to reach an all-time high of $1,902.5 million by 2028 — more than double its present value.

The bulk of the market is dominated by the largest few crypto exchanges, but the biggest crypto exchanges aren’t always the best ones.

In many cases, some newer crypto exchanges offer more innovative features and a better user experience. 

If you’re just getting started with crypto investment or are looking to switch from your current crypto marketplace to a better one, here are the top choices to consider:

1. Oyola

Oyola is a leading pear-to-peer crypto exchange platform that makes it seamlessly easy for users to buy crypto or exchange crypto for their local currency. 

While there are other peer-to-peer crypto exchanges out there, Oyola allows traders to exchange value with no extra fees. At the moment, you can use Oyola to trade up to five different cryptocurrencies which include USDT, BTC, ETH, and BNB.

If you’re just getting started with crypto investment, Oyola is an excellent choice as it is exceptionally easy to use. Oyola is also one of the safest peer-to-peer crypto platforms out there, as it offers an escrow service that helps to ensure integrity on both the buying and selling sides of crypto transactions.

2. Binance

Binance is one of the most popular crypto exchanges in the world, with a rich cryptocurrency offering that includes over 500 cryptocurrencies.

It isn’t advisable for new crypto investors or traders to experiment with cryptocurrencies they aren’t familiar with, so Binance may be best for more experienced users.

Binance also comes with the advantage of offering relatively low fees. However, if you’re just getting started, you may prefer to try a platform that charges zero transaction fees. 

3. Remitano 

Remitano is a peer-to-peer crypto marketplace that provides users with crypto wallets among other services. 

In terms of features, Remitano is quite similar to Oyola, however, while Oyola charges zero transaction fees, Remitano charges fees on any crypto swaps done within its marketplace.

One of Remitano’s unique features is its crypto lending scheme that allows users to borrow and lend crypto easily.

4. Luno

Luno is a crypto marketplace and wallet designed to simplify cryptocurrency investment. Luno’s crypto offering includes Bitcoin, Bitcoin Cash, Tether, Ethereum and a few other major cryptocurrencies.

While Luno offers some nice features, such as a wide range of payment partners to support withdrawals, most of these won’t be applicable to Nigerian users, thanks to restrictive regulations currently being enforced by the Central Bank of Nigeria.

Instead, users can make naira withdrawals using Luno’s voucher system. 

5. Paxful

Paxful is one of Nigeria’s leading peer-to-peer Bitcoin marketplaces. With over 450 accepted payment providers, Paxful promises that converting your fiat (real-world currency) into Bitcoin or other crypto assets will be a seamless process. 

Other than Bitcoin, Paxful also offers Tether and USD Coin on its marketplace. But while these are some of the most popular cryptocurrencies available, you may find this offering to be quite limited when compared with other exchanges like Binance or Oyola.

Getting Started With Crypto Trading in Nigeria

As we’ve shared, there are a few different crypto exchanges to choose from. We’d strongly recommend that you get started by trying Oyola. It’s easy-to-use, and allows for seamless peer-to-peer crypto trading at zero fees.