Dec 10, · In order to trade Bitcoin, you first need to buy the currency. There are several Bitcoin exchange services in Nigeria you can choose from, and here are the most reputable ones: NairaEx, which allows you to purchase Bitcoin using a bank transfer, Perfect Money, or with a bank deposit. Bitcoin rates do constantly fluctuate but at NairaEX the exchange rate is set at the time of transaction. Aug 01, · CoinCola is one of the best platforms to trade Bitcoin in Nigeria because CoinCola charges transaction fees as low as % and has multiple layers of security including top-notch encryption, cold storage, and SSL to ensure that customers can trade with % confidence. The Buy Bitcoin in Nigeria Page on CoinCola.
Trade bitcoin in nigeria9 Exchanges to Buy Bitcoin & Crypto in Nigeria ()
Bitcoin generally has higher volatility than other trading instruments, making it attractive for day traders. Apart from trading, bitcoins have also given access to various financial services in Nigeria which were not available previously.
Traders in Nigeria can trade bitcoins in two ways. Bitcoins can be bought and sold directly from exchanges like Luno, Paxful, etc, that offer bitcoins in return for physical or fiat currency. Another method to speculate on the value of bitcoin through Contract for Difference CFDs on cryptocurrency that is offered by various brokers in Nigeria like Plus, Etoro, Hotforex, etc.
Visit Hotforex. Hotforex is considered safe for trading Bitcoin as a CFD as they are well regulated with multiple regulators. The only fees is their spread, no other commission is charged. Before you start bitcoin trading through CFD in Nigeria, certain factors must be kept into consideration for pleasant and rewarding trading experience.
Lower trading and non-trading fees can enhance the profit margin while trading cryptocurrencies. Regulations : Choosing the right broker is very essential to have a safe, convenient, and fruitful trading experience. The safety of your investments at lower risk is equally important. Cryptocurrency Literacy: Before you start trading bitcoin or any other cryptocurrency, it is essential to know the basic details about the concerning cryptocurrency. The bitcoin market is highly volatile and the price movements can take place at any time of the day throughout the week.
A large number of factors can influence the value of a bitcoin in different currencies. Traders must learn basic details about cryptocurrency to make better trading decisions at right time. Suitability: The bitcoin market is turbulent to price movements and this makes it highly risky.
Traders must be ready to take high risk and should be able to bear heavy losses. Traders must check their expectations with realistic outputs of bitcoin trading before making actual trades.
For beginners, it is advisable to trade from a demo account with virtual currency to gain decent experience and check suitability. A resourceful broker should have a well-informed customer service that is always ready to solve queries and assist the traders in every situation.
Bitcoin BTC is a decentralized digital currency, This means that transactions can be carried out between two different people without passing through a central authority like the banks.
After reading this post, you should have a basic idea of how to get started trading bitcoin in Nigeria. Unlike the stock market, there are no official bitcoin exchanges. Because there is no official bitcoin exchange, there is also no official bitcoin price. This can create arbitrage opportunities. Like earlier stated, the price of bitcoin can change drastically, these price spikes can create opportunities for smart traders to make money.
Coinbase exchange was the first regulated bitcoin exchange in the US. Read my coinbase review. Binance is a crypto only trading platform that offers one of the most competitive rates around. December 10, Must Read. News Brand Spur - April 24, 6. Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to Read more.
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Tags bitcoin cryptocurrency Nigeria. Please enter your comment! Please enter your name here. You have entered an incorrect email address! Latest News. Freshly released Q4 consumer expectations survey report by the Central Bank of Nigeria CBN showed that consumer confidence in the quarter was negative October was one of the best months in almost three years for Bitcoin miners.
According to Coin Metrics data, during that month, network Bitcoin continues to have a tremendous year with the asset hitting the highest price level in almost three years. The soaring Bitcoin price can Will enable cryptocurrency as a funding source for digital commerce at its 26 million merchants Receives conditional Bitlicense from New York State Brand Spur Nigeria.