Oct 20, · To begin bitcoin CFD trading in Nigeria, you need to open an account with a well regulated and trustworthy broker in Nigeria like Hotforex or Etoro that offers cryptocurrency CFDs. There are several FSCA regulated brokers in Nigeria while some are . Nigeria's Premier Bitcoin Exchange Nigeria's Premier Bitcoin Exchange Instant Trading: Real-time & Automated Payments. Trading Bitcoin has never been so easy! Create Account Now Create Account Now. Price Tickers. Calculate the price to buy or sell Bitcoin & Perfect Money in Naira. Luno is a Bitcoin exchange with a presence in South Africa, Singapore, Nigeria, Malaysia and Indonesia. It offers 0% fees for market makers, meaning you can avoid fees if you place a buy order then wait for a seller to take it. Luno also offers an Instant Buy feature. .
Bitcoin traders in nigeriaBuy Bitcoin in Nigeria:- The 10 Best Exchanges ( Upate)
You can deposit and withdraw directly to a bank account. Luno also offers Paystack and PayU deposits for Nigerian customers. These fees are very competitive compared to other exchanges. This puts it in rd place out of in Nomics' review of exchanges by liquidity and transparency.
Luno boasts a clean trading interface in the same style as most, meaning you shouldn't have much trouble switching over from a different exchange. You can trade on the Luno app, which is available for iOS and Android.
More advanced features include API integration for automated trading, liquidity depth indicators, and the ability to export your trade history in a. Local Bitcoins is a great option for buying and selling Bitcoin in Nigeria using a variety of payment methods. Once a deal is opened, the seller will fund the escrow wallet with the Bitcoin to be bought. The buyer will transfer the money and once the seller confirms receipt they will release the BTC.
Should there be any disagreement, the BTC will stay locked in escrow until a solution is found, which may require LocalBitcoins stepping in to act as mediators. Recently, Binance has been greatly expanding its support for Nigerian users. These events are run by local experts and aim to educate and raise awareness about Bitcoin and blockchain.
Complementing its education program, Binance has also made it easier than ever for Nigerians to buy, sell, and trade crypto on its platform. You can now deposit NGN directly into your Binance account using a credit or debit card, following a partnership with Flutterwave. In Sub-Saharan Africa, about 95 million people remain unbanked while many regions in the area, including Nigeria, have embraced new technologies with an increasing amount of innovation.
Working with Flutterwave will help bridge the fiat-to-cryptocurrency gap and we hope to stimulate more financial inclusion as Africa demonstrates strong potential in leading crypto adoption. In addition to allowing users to buy Bitcoin with a debit or credit card, Binance also has a peer-to-peer P2P marketplace, similar to Paxful or LocalBitcoins. The price you see is the price you get. Binance has a useful support guide for P2P trading here. Binance's strong advocacy programs and the fact that it makes an effort to cater to under-served users who can most benefit from Bitcoin means that the exchange stands out from the pack.
The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. Atomic wallet is a multicurrency mobile wallet with a beautiful interface and easy to use features. Electrum is a Bitcoin-only wallet that has been around since It's easy to use, but has advanced features. We also have a chart displaying the price of Bitcoin in grams and ounces of gold.
Alternatively, if you use a portfolio tracker such as Delta or Blockfolio, you can set the reference currency as the Nigerian Naira NGN and get an accurate price of Bitcoin and all 10, supported assets in your currency of choosing. Nigeria is currently not supported by Coinbase, meaning Nigerian users are unable to access the exchange.
However, anyone can use Coinbase Wallet which enables the sending and receiving of cryptocurrencies. You just won't be able to buy, sell, or convert from one crypto to another on Coinbase. There are hundreds of WhatsApp peerpeer groups where you can buy bitcoin with naira.
Some of them are paid groups, but the majority of them are free. You can also convert your bitcoin to naira on these local p2p groups. Many exchanges now allow you to buy bitcoin in Nigeria with your debit card. This instant option also makes it easy for Nigerians to buy bitcoin with naira. The Naira equivalent of BTC will be deducted from your bank account, and your bitcoin wallet will be credited immediately.
Make sure you have sufficient money in your bank account to avoid delays. There are many platforms available for buying bitcoin with naira in Nigeria. But you have to be careful and conduct adequate research when buying on these platforms because some of them have a history of scams. So, you should choose a platform like Remitano for a seamless and secure way to buy bitcoin in Nigeria.
Get latest Technology news, reviews, business-related content with a deliberate emphasis on the African narrative and insightful analysis in Nigeria — straight to your inbox. Shared reports from our corporate partners.. You can also share your stories with us and we will help amplify your voice. Source: Techpoint. This implies that the profits can be multiplied in a leveraged trade. The need to sell BTC is denoted by a sell order.
The sell and buy orders are placed on an order book. These are fulfilled by corresponding buyers with appropriate sellers and vice versa. It permits you to fix an exact price at which you intend to sell automatically at a future date if the price declines significantly against your trade.
Stop-loss orders are very useful for minimizing your losses. It is essentially an order that conveys the following to the trading platform:. This order functions as a market order. It implies that the market will begin selling your BTC once the stop price is reached. This is at any price until the order is fulfilled. It permits your sale or purchase of BTC at your fixed decided price. This implies that the order may not be fulfilled completely.
It is because there will not be adequate sellers or buyers for fulfilling your requirements. You may then end up possessing 4 BTC only. The remaining order for 1 BTC will stay there.
You just need to place the reverse of your original trade for closing your position. So, if you purchased originally, you will sell the same amount. You will buy it if you sold originally. The trading platform will automatically fill your deal ticket with the size of the position.
For you to decide on closing a trade, it is not always necessary that the trade has to be in profit for you. Minimizing your losses on bad trades is equally crucial as while closing for profitable winning trades.
The mechanics of closing out the trade are the same when the time is right. This is irrespective of the position showing up the loss or a profit. Once you click for closing your position, your account will sell your BTC at the market price. You can then realize your profit or loss from the trade. Disclosure: We earn a commission if you Sign Up with a broker through referral links in this review. This helps us cover the expenses for running the website.
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