8 Best Ethereum Trading Platforms in Nigeria
The 8 Best Ethereum Trading Platforms in Nigeria revealed. We tested and verified the best Ethereum Trading Platforms for Nigerian Traders.
This is a complete list of Ethereum Trading Platforms in Nigeria.
In this in-depth guide you’ll learn:
- What is an Ethereum Trading Platform?
- What is the best crypto trading platform in Nigeria?
- Where can you buy Ethereum as a Nigerian trader?
- How to compare Ethereum Trading Platforms against each other?
- How and can I trade Bitcoin with $5 (2 096 NGN)?
- Which brokers offer a signup bonus on a $5 (2 096 NGN) deposit?
And lots more…
So if you’re ready to go “all in” with the best-tested Ethereum Trading Platforms in Nigeria…
Let’s dive right in…
- Louis Schoeman
8 Best Ethereum Trading Platforms in Nigeria (2023)
- Bitpanda – Overall, the Best Ethereum Trading Platform in Nigeria
- Gate.io – One of the First Cryptocurrency Exchanges
- Huobi Global – Best Digital Asset Ethereum Trading Platform
- Kraken – The most Advanced Cryptocurrency in Nigeria
- KuCoin – Top Margin Trading Cryptocurrency Platform
- Binance – Best Pairings for Crypto Trading
- Coinbase – Top Online Cryptocurrency Exchange
- Luno – Largest Customer Base Over the World
Why should Nigerians trade Ethereum?
👉 Ethereum may seem like another cryptocurrency, but it is a supercomputer controlled internationally. This decentralized cryptocurrency network’s primary innovation was its ability to execute smart contracts on its blockchain.
👉 However, most people continue to use Ethereum as a cryptocurrency. It remains one of the world’s most popular cryptocurrencies and a favourite among developers and investors.
👉 Ethereum is now the most popular network for decentralized applications, including non-fungible token (NFT) exchanges and decentralized finance (DeFi) initiatives.
👉 In terms of its potential, the sky is the limit, and the more developers that build on the blockchain, the higher chance Ethereum has of surviving the long haul.
1. Bitpanda
Overview
👉 Bitpanda is an Austrian-based digital asset brokerage. The site was established in 2014 and provided several functions, including automated purchasing and precious metal trading. In addition, Bitpanda provides a wide variety of trading apps.
👉 Notably, none of these programs let users store their crypto assets in a non-custodial way. In addition to Windows, iOS, and Linux, the Bitpanda App enables Android users to access the Bitpanda Platform.
👉 Bitpanda provides a good selection of cryptocurrencies and three crypto index products.
👉 These comprise the five, ten, or twenty-five cryptocurrencies with the highest market capitalization. They make it simple for European investors to diversify their cryptocurrency holdings without requiring them to acquire each coin or token separately.
👉 Bitpanda offers equities, ETFs, and commodities like gold and silver in addition to cryptocurrency. Because of this, it is an excellent choice for investors who want to manage all their assets in one location and make certain that cryptocurrency is included as part of a diverse portfolio.
👉 Additionally, clients may quickly exchange one item for another. Bitpanda features a very user-friendly UI. The whole platform is intuitive and well-designed, from the know-your-customer (KYC) authentication to the trading. The fee information is straightforward.
👉 Bitpanda has used a similar strategy for its mobile applications. The Bitpanda school includes a wealth of relevant information, separated by investor type.
👉 For instance, novice investors would be interested in learning about the operation of blockchain technology and the purpose of a cryptocurrency wallet. Consensus models and smart contracts are covered in intermediate-level publications.
👉 Nigerians can then assess their understanding with a 15-question exam after each lesson.
Criteria
| 💻 Platform Criteria | ℹ️ Information |
| Exchange Location | #30 |
| Exchange Score | $9,976,454 |
| Market Ranking | – |
| Average Trading Volume (24h) | 12 |
| Average Liquidity | – |
| Average Regular Visitors (Weekly) | Swap |
| Number of Coins | 63 |
| Number of Trading Pairs | 78 |
| Fiat Currency Supported | 129,455 |
| Cybersecurity Score | USDT/USDC |
| Penetration Test Done? | BAL |
| Proof of Funds? | 0.0001% – 10% |
| Bug Bounty? | 0.07% |
| Twitter Followers | Core code reviewed by Consensys Diligence, Audited by Trails of Bits and OpenZeppelin. An emergency pause mechanism introduced |
| Alexa Rank | No |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| BitPanda has a BB cybersecurity score and no history of security breaches. | There are low trading volumes for certain crypto pairs. |
| The interface is user-friendly. | The platform is ideal for beginners than professional traders. |
| There are several crypto tokens that Nigerians can trade, including Ethereum. |
2. Gate.io
Overview
👉 Among the first cryptocurrency exchanges to launch in 2013, Gate.io now facilitates the buying and selling a wide variety of popular digital currencies.
👉 Since it has more than 10 million members, it is routinely listed among the top 10 cryptocurrency exchanges in terms of liquidity and trading volume. In addition, it is widely regarded as one of the safest and most reputable worldwide cryptocurrency platforms.
👉 Gate.io provides various services, including many cryptocurrencies, research and analytics, venture capital financing, wallet services, laboratories, and more.
👉 In addition to offering investors a trading platform for digital currencies, Gate.io can also supply its consumers with detailed information about the cryptocurrency markets.
👉 The tool allows you to monitor the values of various altcoins coupled with the four major cryptocurrencies: Bitcoin, Ethereum, USDT, and QTUM. In addition, the Gate.io platform offers its customers real-time market data.
👉 You could examine the site’s current price, trading volume, liquidity, and price fluctuations for all supported cryptocurrencies. All the information is presented on the platform to be viewed and immediately.
👉 Despite the platform’s seeming complexity, it is surprisingly easy to use. First, register for an account with Gate.io and choose the market you want to trade in. Nigerians can choose from four key marketplaces: Bitcoin, Ethereum, USDT, and QTUM.
👉 They can establish a bespoke market to pick the desired cryptocurrency pairings.
👉 In addition to PC trading, Gate.io has offered its users mobile applications that can be downloaded and installed on their cellphones. The application is compatible with both Android and iOS smartphones.
Criteria
| Platform Criteria | Information |
| 💻 Exchange Score | 7.1 |
| ✔️ Market Ranking | #7 |
| ⏰ Average Trading Volume (24h) | US$1,205,066,382 |
| 💧 Average Liquidity | 525 BTC |
| 🗣 Average Regular Visitors (Weekly) | 2,658,869 |
| ✅ Markets Offered | 2,430 |
| ✔️ Coin Offering | 1,455 |
| 👍 Fiat Currency Supported | KRW, EUR |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Gate.io offers over 2,400 markets that can be traded in addition to 1,455 coins, with more being added frequently. | The exchange is unregulated. |
| There is a robust mobile application offered. | The exchange could be very confusing for new beginners without prior exposure to crypto or crypto trading platforms. |
| Gate.io offers Nigerians a range of unique features such as spot trading, margin trading, and more. | |
| The exchange is secure and there is a robust KYC process. | |
| Customer support operates 24/7. |
3. Huobi Global
Overview
👉 Huobi is one of the major cryptocurrency trading platforms in Singapore, with origins in Beijing and a present location in Singapore.
👉 Initial coin offering tokens and cryptocurrencies are accepted on the platform, with an eye toward the exchange’s focus on the future growth of the Blockchain economy.
👉 After relocating to Singapore in 2020 because of a Chinese government restriction on initial coin offerings (ICOs) and fiat-to-cryptocurrency trading, Huobi opened operations in Hong Kong, the United States, and South Korea and began exploring the crypto markets in Japan.
👉 However, the cryptocurrency prohibition in China and Huobi’s deportation from the country could not halt the exchange’s activities, and it now boasts over 3 million active account users.
👉 The exchange offers ICO tokens in addition to cryptocurrencies and anticipates that the future growth of the Blockchain economy will result in the emergence of new classes of digital assets.
👉 Huobi has also released its own token as a cryptocurrency built on the Ethereum blockchain; this token is known as HT. However, the token was not issued via an ICO but as part of a loyalty program for account users.
👉 Nigerian traders can use the token either to vote on coins to be added to the platform or to pay their fees. Additionally, $300 million worth of HT was sold 14 days after its release.
👉 HADAX might be compared to the London Stock Market’s AIM exchange for smaller firms that cannot achieve the listing requirements for the main stock exchange.
👉 It allows users to cast votes in the form of HT tokens for the inclusion of new altcoins and ICO tokens, which are smaller cryptocurrencies.
👉 Huobi’s exchange platform is one of the most amazing on the market because it strikes the delicate balance between giving experienced traders the capabilities and staying user-friendly. The exchange platform supports Windows, Mac, iOS, and Android operating systems.
👉 The Smart chain analysis and research service is a beneficial value-added feature of the trading platform. It offers research and analysis on more than 50 distinct Blockchain-based assets.
Criteria
| 💻 Platform Criteria | ℹ️ Information |
| Exchange Location | #30 |
| Exchange Score | $9,976,454 |
| Market Ranking | – |
| Average Trading Volume (24h) | 12 |
| Average Liquidity | – |
| Average Regular Visitors (Weekly) | Swap |
| Number of Coins | 63 |
| Number of Trading Pairs | 78 |
| Fiat Currency Supported | 129,455 |
| Cybersecurity Score | USDT/USDC |
| Penetration Test Done? | BAL |
| Proof of Funds? | 0.0001% – 10% |
| Bug Bounty? | 0.07% |
| Twitter Followers | Core code reviewed by Consensys Diligence, Audited by Trails of Bits and OpenZeppelin. An emergency pause mechanism introduced |
| Alexa Rank | No |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Huobi has a large selection of crypto coins that can be traded. | The platform is not ideal for beginners. |
| The platform has low and competitive fees. | Traders must use the desktop or mobile app directly to contact support. |
| Several professional trading tools are offered, including the option to trade on margin, participate in futures, and use advanced charting. | |
| There is 24/7 customer support available on the platform. | |
| There is an intuitive and robust mobile app offered. |
4. Kraken
Overview
👉 Since 2011, San Francisco-based has been regarded as one of the world’s leading Ethereum exchanges. In addition, Kraken states it is consistently ranked as the finest and safest Ethereum exchange by independent news media.
👉 Additionally, Kraken is regarded as one of the most advanced, respected, and safe cryptocurrency exchanges by market players and observers.
👉 Kraken has the greatest trading volume in euros for any exchange and routinely ranks among the top 10 crypto exchanges for Ethereum and trading volume across all supported cryptocurrencies.
👉 It was also the first cryptocurrency exchange to integrate its data (volumes and trade prices) into the Bloomberg Terminal.
👉 Kraken’s actual trading software is regarded as adequate but not perfect. The exchange has been known to have issues during high traffic and order volume periods.
👉 However, just before this article was completed, Kraken issued a comprehensive overhaul to its trading platform. This new version is anticipated to enhance usability and resolve the problem of site crashes during busy trading hours.
👉 In addition to the normal buying and selling of cryptocurrencies, Kraken provides advanced traders with extra services such as margin trading with up to 5x leverage and the possibility to take a short position.
👉 Kraken has acquired other companies to expand its platform with features such as Cryptowatch, a company that provides real-time crypto price streams and charts, which it integrated last year.
👉 For mobile trading, an iOS application is available. However, for no apparent reason, there is no Android application.
Criteria
| 💻 Platform Criteria | ℹ️ Information |
| Exchange Location | United States |
| Exchange Score | 7.6 |
| Market Ranking | #4 |
| Average Trading Volume (24h) | $543,656,430 |
| Average Liquidity | 748 BTC |
| Average Regular Visitors (Weekly) | 1,205,310 |
| Number of Coins | 205 |
| Number of Trading Pairs | 619 |
| Fiat Currency Supported | Yes, 7 |
| Cybersecurity Score | AAA |
| Penetration Test Done? | Yes |
| Proof of Funds? | Yes |
| Bug Bounty? | Yes |
| Twitter Followers | 1,457,945 |
| Alexa Rank | #4483 |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| Kraken has a AAA cybersecurity rating, which is high. | The response time on customer support is slow. |
| Kraken has extremely high financial security. | There is a limited selection of payment methods offered. |
| No restrictions are placed on traders, regardless of where they live. | |
| There is a decent range of tradable markets offered. | |
| Nigerians can trade crypto and fiat currencies. | |
| The platform is known for its low and competitive fees. |
5. KuCoin
Overview
👉 Even though the exchange began operations in the middle of 2017, its founding team has been working with blockchain technology since 2011. The technological architecture of the platform was built in 2013, but it took years of polishing to make KuCoin what it is today.
👉 The current location of the company’s headquarters is in Seychelles. However, according to reports, the firm has around 300 workers globally.
👉 2019 was a year of substantial KuCoin platform changes. The exchange changed its interface to Platform 2.0 in February, giving the platform its current appearance. The update also featured more functionality, such as sophisticated order types and a new API.
👉 In June, KuCoin also introduced KuMEX, which is currently known as KuCoin Futures. The exchange also enabled margin trading with up to 10x leverage later in the year.
👉 KuCoin established cooperation with crypto on-chain analytics and monitoring firm Chainalysis in June 2020 to further its compliance efforts. As a result, KuCoin has among the lowest fees of any cryptocurrency exchange. Moreover, its pricing structure is quite simple and basic.
👉 Every transaction is subject to the 0.1% flat charge. However, the expenses tend to reduce dependency on your 30-day trading volume or KuCoin Shares (KCS) ownership, which qualifies you for the extra discount on trading fees
👉 In addition, you may use KCS tokens to pay a portion of your KCS Pay trading expenses. In addition, the exchange offers a program for institutional investors eligible for large trading fee savings. KuCoin Futures features variable financing costs for futures contracts.
👉 The USD/USDT loan rate could be positive or negative as it adapts to the respective financing rates.
👉 This adjustment means that the funding cost of KuCoin perpetual futures will be reduced to zero under normal market conditions from 0.030%, the current difference between the base currency and the quotation currency of the funding rate.
Criteria
| 💻 Platform Criteria | ℹ️ Information |
| Exchange Location | Seychelles |
| Exchange Score | 7.2 |
| Market Ranking | #5 |
| Average Trading Volume (24h) | $790,397,304 |
| Average Liquidity | 592 |
| Average Regular Visitors (Weekly) | 2,296,501 |
| Number of Coins | 731 |
| Number of Trading Pairs | 1,356 |
| Fiat Currency Supported | Yes, 48 |
| Cybersecurity Score | A |
| Penetration Test Done? | Yes |
| Proof of Funds? | Yes |
| Bug Bounty? | Yes |
| Twitter Followers | 2,167,110 |
| Alexa Rank | #1115 |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| KuCoin offers an attractive selection of cryptocurrencies that can be traded. | KuCoin is not licensed in all areas. |
| There are competitive trading fees and Nigerians get volume discounts on their fees. | Funds are kept on the platform and there is no insurance on these funds. |
| There are advanced features offered like margin trading as well as futures trading. | KuCoin experienced a successful hack in 2020. |
| Credit and debit cards are accepted for crypto purchases. |
6. Binance
Overview
👉 In addition to standard Ethereum exchange services, Binance provides many other popular items. This comprises leveraged cryptocurrency derivatives, including futures and options.
👉 Additionally, Binance provides peer-to-peer (P2P) exchanges and savings accounts that enable you to earn interest on your Ethereum holdings.
👉 Binance is noted for its low-cost commission system when it comes to fees. This begins at only 0.1% per slide but may be reduced further if you trade greater volumes or keep a certain amount of Binance Coin (BNB).
👉 Most asset pairings consist of crypto-to-crypto markets when the asset library is further subdivided. In case you were unaware, this implies exchanging one digital money for another. This is shown by the BTC/USDT pair, which comprises Bitcoin and Tether.
👉 This is Binance’s biggest trading market, with about $50 billion changing hands in the previous 24 hours. Notably, crypto-to-crypto pairings on Binance are only acceptable if you have a digital currency to finance your account.
👉 For instance, if you have Bitcoin and desire to purchase Ethereum, you can easily convert the two on the BTC/ETH exchange. However, to purchase Bitcoin using fiat currency, crypto-to-crypto pairings are insufficient.
👉 Binance has a variety of fiat marketplaces, letting you purchase digital assets using your favourite currency. Most markets are denominated in US dollars, with BTC/USD and ETH/USD having the most trading volume.
👉 However, it is also possible to purchase digital assets using other fiat currencies such as British pounds (GBP), euros (EUR), and Australian dollars (AUD).
Criteria
| Platform Criteria | Information |
| 💻 Exchange Score | 9.9 |
| ✔️ Market Ranking | #1 |
| ⏰ Average Trading Volume (24h) | US$15,948,394,708 |
| 💧 Average Liquidity | 854 BTC |
| 🗣 Average Regular Visitors (Weekly) | 20 million+ |
| ✅ Markets Offered | 1,684 |
| ✔️ Coin Offering | 393 |
| 👍 Fiat Currency Supported | 46 including USD, AUD, AED, etc. |
Pros and Cons
| ✔️ PROS | ❌ CONS |
| Binance is known for its ultra-low fees | Binance has some restrictions on its area of service |
| Binance offers the perfect platform for passive income | |
| There are a plethora of educational resources | |
| There is a massive range of coins offered |
7. Coinbase
Overview
👉 Coinbase, an online cryptocurrency broker and exchange founded in 2012, has a stellar reputation in the digital asset market. As a result, Coinbase is well suited for novice investors looking to purchase cryptocurrencies for the first time.
👉 Opening an account, uploading identification, and depositing dollars with a debit card are the only requirements for purchasing digital assets with the touch of a button. Coinbase has over 35 million users on its platform, making it one of the top Ethereum exchanges in the industry.
👉 At the time of writing, Coinbase has a market valuation of 15 billion US dollars. Coinbase also offers Coinbase Pro, a subsidiary platform. This is suitable for active day traders who wish to purchase and sell cryptocurrencies in the near term.
👉 The Coinbase Pro interface is loaded with sophisticated trading instruments, charts, and order books. In addition, Coinbase Pro offers cheaper trading costs and other digital currency pairings not accessible on the standard Coinbase platform.
👉 After completing an Ethereum purchase via Coinbase, the money will automatically appear in your online wallet. This implies that you may access your money by logging into your Coinbase account. Importantly, this is a custodial wallet, which means you have no control over your private keys.
👉 However, one of the advantages of this wallet is that it is equipped with a myriad of security safeguards that guarantee your assets are always secure.
Criteria
| Platform Criteria | Information |
| 💻 Exchange Score | 7.9 |
| ✔️ Market Ranking | #3 |
| ⏰ Average Trading Volume (24h) | US$ 1,625,080,393 |
| 💧 Average Liquidity | 681 BTC |
| 🗣 Average Regular Visitors (Weekly) | 1.9 million+ |
| ✅ Markets Offered | 573 |
| ✔️ Coin Offering | 209 |
| 👍 Fiat Currency Supported | USD, EUR, GBP |
Pros and Cons
| ✔️ PROS | ❌ CONS |
| There are many trading options offered by Coinbase along with a vast range of coins | There are extremely expensive fees |
| Funds on Coinbase are insured | There are some restrictions on alternative coins offered |
| The mobile app is critically acclaimed as one of the best in the industry |
8. Luno
Overview
👉 Bitx was rebranded as the popular cryptocurrency exchange and wallet service Luno. Initiated in 2013, it has spread from Singapore to 44 countries globally. Bitx changed its brand name to Luno, which means moon, in 2017.
👉 Since the rebranding, it has enjoyed unanticipated growth. Luno now caters to over 7 million customers worldwide from Singapore, Cape Town, Australia, Nigeria, Singapore, and London.
👉 Luno is a unique cryptocurrency exchange focusing mostly on emerging countries such as Nigeria and Malaysia. In addition, Luno excels in making cryptocurrency investments as simple as possible.
👉 It offers a user-friendly online interface and mobile app, so it is worth a look if you are new to cryptocurrency and looking for an exchange with a low learning curve.
👉 Simply input your debit card, determine how much you want to pay, and complete the transaction to purchase cryptocurrency. Of course, security is crucial for any cryptocurrency exchange, and Luno excels in this regard.
👉 Most crypto assets are stored offline in cold storage, and their keys are kept in safety deposit boxes. By holding cryptocurrencies offline and making them tough to access, Luno makes it far more difficult for anybody to steal its customers’ cash.
Criteria
| 💻 Platform Criteria | ℹ️ Information |
| Exchange Location | Singapore |
| Exchange Score | 4 |
| Market Ranking | #87 |
| Average Trading Volume (24h) | $13,780,586 |
| Average Liquidity | 452 BTC |
| Average Regular Visitors (Weekly) | 231,567 |
| Number of Coins | 12 |
| Number of Trading Pairs | 26 |
| Fiat Currency Supported | Yes, 11 |
| Cybersecurity Score | DD |
| Penetration Test Done? | No |
| Proof of Funds? | Yes |
| Bug Bounty? | No |
| Twitter Followers | 2,404 |
| Alexa Rank | #18431 |
Pros and Cons
| ✔️ Pros | ❌ Cons |
| The Luno platform is straightforward, with a user-friendly interface for users in any market. | This platform’s cost structure might be perplexing. |
| Luno has low transaction fees and offers crypto savings. | This exchange does not support any non-custodial wallets. |
| The Luno platform has never experienced any security breaches. | |
| There are free bank transfer deposits |
How to choose the Right Crypto Trading Platform in Nigeria
👉 The need for Bitcoin brokers has grown because of the thousands of individuals interested in investing in cryptocurrencies globally.
👉 Numerous Bitcoin brokers will be offering their services on the market, but you will also run across reports of frauds involving Bitcoin brokers.
👉 Not all Bitcoin brokers can be trusted since many of them have turned into frauds. Even if they are, they lack adequate security measures or are deficient in certain key areas, which may cause a lot of issues for Bitcoin traders.
👉 You must thus carefully choose a crypto broker, and we have provided key features that you must verify before you deal with a crypto broker.
Background and Financial Backing
👉 A good Bitcoin broker has robust financial support, which necessitates a substantial capital basis. This ensures that your Bitcoin is secure and that the broker will not go bankrupt.
Experience and Credibility
👉 The crypto market is young compared to other markets. However, this does not imply that all brokers are unskilled. There are reputable and professional Bitcoin brokers available for usage.
👉 Bitcoin brokers must possess the necessary qualifications, such as licenses from famous and respectable regulatory authorities and specialists on their staff. You can read reviews of the broker and get insight into their services to assess whether they are a good match for you.
Responsive Customer Support
👉 Since Bitcoin trading is available 24 hours a day, seven days a week, you could have a problem or query at any moment.
👉 Therefore, it is important to seek a broker who is accessible 24/7. Regardless of your time zone, they should have a competent support crew that can respond to inquiries and concerns in a timely and professional way.
Crypto Trading Fees and Commissions
👉 You must investigate the commissions and other costs that Bitcoin brokers impose. Ensure the broker outlines the fees they charge, and any other dangers associated so that you may make an informed choice.
Trading Platform
👉 No Bitcoin broker is complete without a user-friendly web, desktop, or mobile platform, often all three. These platforms are required for an assortment of reasons.
👉 They give customers a great degree of simplicity in Bitcoin trading, and a well-designed platform provides them with a variety of possibilities.
👉 These choices make things easier and more comfortable for novice and seasoned Bitcoin traders alike. Ensure that your preferred dealer has a modern platform or a selection of platforms.
Longevity of brokerage
👉 There may be a small number of trustworthy Bitcoin brokers that have just started up, but they are quite rare. If a Bitcoin broker has been in existence for an extended length of time, it has been doing something right, as shown by the fact that customers continue to depend on it.
Account Registration Process
👉 Very few traders realize that the registration procedures of Bitcoin brokers reveal a great deal about their character. Veteran traders in this industry can rapidly determine if a broker is excellent or terrible based just on the sign-up procedure.
👉 You may initially have some problems with spotting the legit Bitcoin brokers. However, as time goes by, you will have a better time distinguishing between excellent and unfavourable brokers. A vast number of depositing fees is a frequent indicator of a fraudulent sign-up procedure.
👉 Most instances in which Bitcoin brokers urge their customers to deposit a big sum of money to join up are probable scams. This is made apparent by the fact that many reputable Bitcoin brokers now accept little or no deposits from prospective clients.
👉 You should opt for these Bitcoin brokers instead of those that want vast quantities of money for crypto transactions.
👉 Additionally, investigate the process’s security. You can do this by examining the search bar’s top-left corner for an SSL certificate. This certificate ensures that a website is secure and will not expose your data to hackers.
Technical Support for Cryptocurrencies
👉 The distinction between customer service and technical assistance cannot be overstated. Most firms have technical support teams to assist clients with issues that need assistance from experts in that field.
👉 A significant majority of Bitcoin brokers lack any form of technical support personnel. They believe that their customer service professionals are sufficient for the task and depend only on them.
👉 The team should comprise Bitcoin industry veterans with decades of expertise. They should have a thorough understanding of how things operate and be able to deliver rapid answers within minutes.
👉 Determining whether a Bitcoin broker has a competent technical support staff might consume considerable time. In most instances, a substantial bit of trial and error is required.
Overall Convenience
👉 If a Bitcoin broker does not provide any convenience, they are not worth your time. As the environment changes, this sector is undergoing tremendous change. To make the appropriate judgments at the right time, you must be current on many matters.
👉 This is only achievable if your broker provides you with features that enhance your entire experience. Your broker’s platform should be compatible with a range of devices.
👉 Using your smartphone or tablet, you should be able to access your account and see all your trades and other crypto-related actions.
👉 Easy accessibility enables you to trade on the move while guaranteeing that you do not miss anything crucial and aside from that, the broker should utilize straightforward language.
Demo Account
👉 Today, one just cannot do without a reliable demo trading solution. There are several complex circumstances involved in Bitcoin trading. If you are just beginning in this sector, you will not know how to make timely judgments.
👉 You will lose a substantial amount of money as a result, and Bitcoin demo trading might help you avoid these errors.
👉 It will instruct you on trading in the actual world while guaranteeing that your selections do not negatively affect your funds. With this option, you will neither gain nor lose money. Nonetheless, you will get knowledge about how cryptocurrency trading is conducted.
The Best Crypto Brokers in Nigeria
👉 In this article, we have listed the best brokers that offer crypto CFDs to traders in Nigeria. In addition, we have further identified the brokers that offer additional services and solutions to Nigerian traders.
Best Crypto Broker for beginners in Nigeria
Overall Rating
- 4.9/5
Min Deposit
USD 100 / 41450 NGN
Regulators
ASIC, FSA
Trading Desk
MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, AvaTrade is the best Crypto broker for beginners in Nigeria. AvaTrade, one of the most rigorously regulated companies in the sector, is a legitimate FX and CFD broker with more than 300,000 registered traders and monthly trading volumes of over $70 billion.
👉 AvaTrade has Nigerians covered when it comes to routine market analysis with user-friendly search tools, instructional resources, and research tools.
Best Low Minimum Deposit Crypto Broker in Nigeria
Overall Rating
- 4.9/5
Min Deposit
USD 0 / 0 NGN
Regulators
ASIC, BVI, CFTC, FCA, FFAJ, FSC, IIROC, MAS, NFA
Trading Desk
Metatrader 4 and Metatrader 5
Crypto
Yes
Total Pairs
45
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, OANDA is the best Low Minimum Deposit Crypto Broker in Nigeria. Therefore, it is unnecessary to make a sizable initial investment to open a real account when Nigerians work with OANDA.
👉 With OANDA, traders could establish positions in foreign exchange and other financial products with even a small amount of capital.
Best ECN Crypto Broker in Nigeria
Overall Rating
- 4.7/5
Total Pairs
50
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, FOREX.com is the best ECN Crypto broker in Nigeria. FOREX.com is an ECN broker that has an execution scorecard to prove its fast and reliable trade execution speeds. The broker offers a range of instruments and powerful trading technology to Nigerian crypto traders.
Best Islamic / Swap-Free Crypto Broker in Nigeria
Overall Rating
- 4.7/5
Total Pairs
250
Islamic Account
Yes
Trading Fees
Low
Welcome Bonus
$140 (58 116 NGNFind out More)
Account Activation Time
Instant
👉 Overall, FBS is the best Islamic / Swap-Free Crypto broker in Nigeria. Swap-free trades are possible on all FBS trading platforms apart from the ECN and Crypto accounts. Moreover, for both conventional and Islamic accounts, FBS provides zero-pip spreads.
👉 For positions open for longer than two days, FBS assesses a fixed administration fee; the amount is based on the total number of days the order was open; this fee is still regarded as halal trading.
Best Crypto Trading App in Nigeria
Overall Rating
- 4.9/5
Total Pairs
97
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, Exness is the best Crypto trading app in Nigeria. Exness supports the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, both created by MetaQuotes Software Company (MT5).
👉 A mobile app for Android and iOS is also available from Exness that may be used for trading and account management.
Best Naira Trading Account Crypto Broker in Nigeria
Overall Rating
- 4.8/5
Min Deposit
USD 0 / 0 NGN
Regulators
FSCA, CMA, CySEC, DFSA, FSA
Trading Desk
MetaTrader 4, MetaTrader 5, HFM Trading App
Crypto
No
Total Pairs
50+
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, HFM is the best Naira trading account Crypto broker in Nigeria. HFM is a multi-platform, online broker with a social conscience that accepts NGN accounts and is governed by numerous regulatory agencies. The platforms will be appealing to novice and seasoned traders alike.
Best Lowest Spread Crypto Broker in Nigeria
Overall Rating
- 4.7/5
Min Deposit
USD 200 / 82900 NGN
Regulators
ASIC
Trading Desk
Metatrader 4
Crypto
Yes
Total Pairs
65
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, IC Markets is the best lowest spread Crypto broker in Nigeria. In addition, IC Markets is the biggest pure ECN trading broker in the world, with spreads as low as 0 pip.
👉 Thanks to the ample liquidity that IC Markets provides from various liquidity sources, transactions may always be completed quickly and for the least amount of money.
Best NDD Crypto Broker in Nigeria
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 41459 NGN
Regulators
CySec, ASIC, FCA, BVI FSC, FSCA
Trading Desk
MetaTrader 4, MetaTrader 5, Markets.com propietary platform
Crypto
Yes
Total Pairs
67
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, Markets.com is the best NDD Crypto broker in Nigeria. Markets.com, a trustworthy and licensed broker, offers free access to effective trading tools.
👉 You may trade online using a range of tools on Markets.com’s top-rated trading platform, which can be customized to your requirements.
Best STP Crypto Broker in Nigeria
Overall Rating
- 4.7/5
Min Deposit
USD 100 / 41450 NGN
Regulators
CySEC, FCA, FSA, FSCA, Labuan FSA
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, Tickmill is the best STP Crypto broker in Nigeria. Since it has been in business for the past few years without any issues, Tickmill is a reputed STP and ECN broker that gives Nigerian traders access to various instruments under favourable trading terms.
👉 Tickmill provides commission-free trading options, floating spread pricing, and some of the best beginner-friendly customer assistance and instructional resources.
Best Sign-up Bonus Broker in Nigeria
Overall Rating
- 4.7/5
Min Deposit
USD 10
Regulators
IFSC
Trading Desk
Meta Trader 4
Crypto
Yes
Total Pairs
32
Islamic Account
No
Trading Fees
Low
Account Activation Time
24 Hours
👉 Overall, RoboForex is the best sign-up bonus broker in Nigeria. RoboForex accounts that are Pro-Cent or Pro-Standard are eligible for a $30 welcome bonus.
👉 Customers of Standard and Cent get an additional benefit: a 60% Profit Bonus. Additionally, account holders may get up to a 120% bonus on their credits with the Classic Bonus program.
Conclusion
👉 While most cryptocurrency traders will concentrate on Bitcoin, increased investors are choosing Ethereum. Nigerians can easily trade Ethereum via several reputable trading platforms that are secure, offer several trading opportunities, and offer competitively low fees.
FAQ
Is Luno Ethereum trading platform good for beginners in Nigeria?
Yes, the Luno Ethereum platform is a good option for beginner traders mainly because it is straightforward and has a user-friendly interface, charges low transaction fees and the platform offers crypto savings.
What are the advantages of using Coinbase Ethereum Trading platform?
The advantages of using this platform include the availability of a vast range of coins and many trading options, fund insurance and a very good mobile app.
What are the advantages of Binance Ethereum Trading Platform?
Advantages include a massive range of coins on offer, lots of educational resources, the perfect platform for traders interested in a passive income and ultra low fees
Is Binance Ethereum trading platform legit in Nigeria?
Yes, Binance is legit, and the platform accepts Nigerian traders.
Is it safe using BitPanda Ethereum trading platform?
Yes, according to our research BitPanda enjoys a BB cybersecurity score and no history of security breaches was found.
Top 3 Brokers