Luno, Binance Tops Lists Of Major Cryptocurrency Exchanges In Nigeria
A comprehensive analysis Performed by flipmemes.com highlighted some of the most commonly used crypto Exchanges in Nigeria.
From the list, Binance and Luno ranks first and second respectively as others follow.
Though the hierarchy may not be what you really expected, it’s noteworthy that these Exchanges compiled by flipmemes are based on user opinions.
Here Are The Top 5 Crypto Exchange and Trading Platforms in Nigeria
I. Binance Nigeria:
In just four years of existence (May 2021), Binance has established itself as the leading exchange in the crypto market. Binance initially launched in China and continues to expand its services globally.
Binance’s numerous success is mainly due to its constant innovations, reduced transaction costs and reliability.
The exchange offers easy-to-use features for newbies as well as complex trading tools for professional traders.
II Luno Nigeria:
Over the years, Luno has grown to become one of the biggest crypto platforms in Africa, with a significant market share in Nigeria.
Launched in 2013, Luno has expanded to several countries and has its headquarters in London, UK.
Luno allows Nigerians to buy cryptocurrencies directly from naira-domiciled cards and domestic transfers.
Also, the exchange has Naira trading pairs where users can convert their crypto to fiat and withdraw to their accounts.
However, this service has been affected by the CBN ban that was imposed in February 2021.
III Coinbase Nigeria:
Coinbase became the first crypto-based company to launch an IPO listing on the Nasdaq exchange in 2021.
The platform serves as a broker bringing buyers and sellers in a single platform.
Earlier in May 2021, coinbase had supported operations within Nigeria.
Remitano is an online peer-to-peer escrow marketplace that makes it easy to buy and sell cryptocurrencies.
The cryptocurrency trading platform is designed to support the purchase and sale of cryptocurrencies with both fiat currencies and cryptocurrencies.
Paxful has been described by many as an online marketplace that allows buyers and sellers to meet and exchange crypto all on the app.
Like LocalBitcoins, Paxful allows a wide range of payment methods and purchase options that cannot be found on traditional exchanges.