Best Platforms to Buy Bitcoin in Nigeria

[Michael Catudal]

Due to a 2021 cryptocurrency ban enforced by the local monetary authorities, few traditional exchanges offer the option of trading Naira for Bitcoin. But when there is demand, there will always be supply, in one form or another. And in Nigeria and similar countries, peer-to-peer (p2p) marketplaces gathered the highest popularity among local traders.

You can trade BTC for NGN on the following p2p platforms:

- Binance P2P
- LocalBitcoins
- OKX P2P
- Remitano
- https://bitpapa.com

Arguably the most popular is Binance P2P and LocalBitcoins. However, both of them require ID verification. More specifically, on Binance, you won’t be able to make a trade unless you have passed real identity verification requiring a driver's license, passport, and whatnot. On LocalBitcoins, you can trade after confirming your email and phone number, but your trades will be limited to €1000. €1000 looks like a decent amount, but that’s how much you can trade annually. While somewhat less known to Nigerian crypto traders, Bitpapa, on the other hand, allows you to stay completely anonymous. This marketplace does not limit how much you can trade daily, monthly, yearly, etc.

Under these circumstances, checking the prices on these platforms makes sense. We will use LocalBitcoins prices as it is the oldest p2p marketplace today (founded in June 2012) and is used by over 1,000,000 traders globally.

[Bbubalex]

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[KenyaFuentes]

Thanks for sharing these insights, Michael! It's conversations like these that help us navigate the complexities of the cryptocurrency landscape and make informed decisions about trading and investment.

[Rapotamo]

Your rundown of the best platforms to buy Bitcoin in Nigeria sheds light on the evolving cryptocurrency landscape in the region. It's fascinating to see how peer-to-peer marketplaces like Binance P2P and LocalBitcoins have become go-to options for local traders, despite regulatory challenges.
Exploring these platforms provides not only opportunities for Bitcoin trading but also insights into the broader trends shaping the cryptocurrency market in Nigeria. For those keen on staying informed about cryptocurrency developments, resources like 바이낸스 can offer valuable updates and analysis.

[David9232]

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