The average Nigerian has long realized that the country’s economy is not worth depending on. So it’s no wonder that Nigerians have dominated the crypto space as a means to generate personal income. And as we know, the early stage of participating in crypto necessitates that one is equipped with the technical know-how of its acquisition, especially Bitcoin.
Newbies want to know where in Nigeria they can get Bitcoin. But most of the time, when this question is asked, it disintegrates into multiple facets of inquiries; it could be an inquiry about the availability of a person that sells Bitcoin, or the availability of a crypto outlet in Nigeria that does the same. Regardless, this article is geared to provide answers to these dynamics.
Bitcoin Vendors In Nigeria: What You Should Know
Are there Bitcoin vendors in Nigeria? Who are the highest Bitcoin vendors in Nigeria? How can one get across to these vendors? These are some daily budding questions. Are there functional Bitcoin vendors in Nigeria?
Of course, there are Bitcoin vendors in Nigeria. And they’re pretty functional as well. They very well contributed to Nigeria taking a huge chunk of the crypto cake, to an extent that puts it in third place worldwide in Bitcoin trading. The eagerness of the large Nigerian population in becoming a part of the crypto community makes them pretty much noticeable.
Who are the highest bitcoin vendors in Nigeria?
Bitcoin vendors exist in Nigeria in two forms; both as a sole proprietorship and as partnership like crypto exchanges. For exchanges, Binance remains Nigeria’s larger Bitcoin vendor, with more than half of the country’s adult population actively involved in trading Bitcoin and other cryptocurrencies there.
The second line of vendors is mostly experienced individual Nigerian Bitcoin traders that have over time become juggernauts in the Nigerian crypto community. This group of people does not necessarily follow standard Bitcoin market prices, but they save buyers the rigors involved in acquiring Bitcoin from online P2P and from buying via card payment.
How can one get across to Bitcoin vendors?
Getting across to a Bitcoin vendor in Nigeria is pretty simple. It all takes doing due diligence and signing up with an online vendor (exchange) or making a social media post asking for a local Bitcoin vendor. For the latter, it needs to be a vendor with a good trading reputation.
A recommended vendor would be an actual crypto exchange because of the security therein and the standard sale price. You’re highly likely to fall into scam traps with local Nigerian Bitcoin sellers. An exchange like Binance with low trading charges would just be perfect.
If your need of buying Bitcoin from a local vendor stems from the place of having a preferred payment method, an option that is pretty much easy with an offline seller, then this need is also met on trading exchanges where there are numerous sellers with flexible payment options.
Which BTC Platform Or Vendor Is The Best In Nigeria?
When it comes to Bitcoin trading and crypto investment in general, Nigerians are keen on adopting the most effective of the functional exchanges there are. A simple observation tells us that more Nigerians have adopted Binance than any other crypto exchange. So it would suffice to say that Binance has so far been the best BTC vendor in Nigeria.
Although there has been a noticeable shift recently, not particularly to a crypto trading platform, but to a platform that allows Nigerians to easily convert their crypto to fiat assets, Dart Africa.
This conversion facility is only functional in Nigeria and Ghana and it is tailored to meet the specific needs of traders from these regions. Reviews have shown that Dart Africa’s increasing sign-up rate stems from its user-first system; fast payment time, easy navigation, strong customer support system, and hassle-free process.
It remains that Nigerians enjoy the luxury of many Bitcoin purchase outlets because of the many Bitcoin vendors there are. Although, one of the grey areas that should be looked into is the fact that some exchanges suffice better for specific causes. So, do you want to buy, sell, or convert Bitcoin to cash? Checking the history of the effectiveness of an exchange with respect to certain functions would reveal whether or not it is ideal to adopt it for a specific cause.