Here are 4 platforms you can use to buy Bitcoin.
Of the over 20 platforms, Quidax ranks among the top. The platform makes it easy for practically anyone to use.
Quidax also offers one of the lowest fees when buying and selling Bitcoin or any other cryptocurrency.
What makes Quidax easy to use is its instant buy/sell feature which makes buying bitcoin fast and simple. The instant buy/sell is automated hence, the speed when buying and selling bitcoin.
With Quidax you can buy Bitcoin with 200 Naira using your debit card, bank transfer or USSD. One feature a lot of people love about the platform is that you can withdraw and get your funds to any bank account in Nigeria instantly.
Local Bitcoins (4/5)
Local Bitcoins is a peer-to-peer platform that brings together buyers and sellers. The platform provides a holding service (escrow) to prevent buyers and sellers from being cheated. Local Bitcoin has been around for some time.
It functions as an escrow which matches buyers and sellers together. As an escrow what they do is to hold the seller’s bitcoin until the seller confirms that they have been paid by the buyer. This way, neither the seller nor the buyer gets cheated.
Although you need to be wary of scammers and accept that sellers will sell Bitcoin at a higher rate. Also, it’s important you consider security when buying from Local Bitcoins.
Blockvila (formerly NGexchanger) (3/5)
Blockvila is a broker, that is they directly buy & sell bitcoin to people, just like your foreign exchange mallam. This model ensures trust since you are dealing directly with the platform. However, you might experience a delay in your transactions depending on the day and time you want to buy/sell.
On Blockvila you can sell or buy a minimum of $20 on Blockvila with an unverified account, you have a funding limit of $500 per day. It takes a period of 24 – 48 hours to get verified on Blockvila.
Changelly (formerly NGexchanger) (3/5)
Changelly allows for the conversion of cryptocurrencies. The platform does not hold your currencies rather currencies are swapped in one transaction, hence, the name.
The platform currently only offers cryptocurrency to cryptocurrency options, hence, you will need to find another platform if you are looking to convert cryptocurrency to Naira.
You can use changelly after you may have bought bitcoin and you are looking swap it for another cryptocurrency.