Bitcoin traders in nigeria
Dec 17, · According to an analysis of bitcoin trading platform Paxful’s database shared with aicrypto4.de, Nigeria has traded the equivalent of 60, BTC – . Dec 11, · Buy Bitcoin in Nigeria with bank transfers Bank transfer has made any form of trading easy. Whether it is grocery shopping, buying gadgets, or trading bitcoin, you can complete a transaction in a few minutes via bank transfer. Peer-to-peer exchanges allow you to buy bitcoin with naira from sellers using the bank transfer option. 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.
Bitcoin traders in nigeriaNigeria Emerges Second Bitcoin Trader With $ million | aicrypto4.de
Nwachukwu points out that interest in cryptocurrency has grown fastest among millennials. But the majority of young people are either unemployed or underemployed, and often unbanked. Even those fortunate enough to qualify for a bank account are hobbled by spending limits that can be unreasonably low, or find that their Nigerian IP addresses have been blacklisted, said Sawyerr.
Bitcoin and stablecoins , which are pegged to the dollar and easy to cash out, have proved their salvation, he added. Last summer, Nigerians downloaded more bitcoin. Many Nigerians have shunned doing business online in recent years due to the preponderance of social-financial, get-rich-quick and Ponzi schemes, such as MMM, Twinkas and others, according to Luka Anthony, overseas manager for Chinese financial services startup GetBit.
The scams have tainted the image of cryptocurrencies in the country, he argued—but recent events have given Bitcoin a shot of credibility. The police unit stands accused of extortion, torture and murder. Many of those targeted are young males who work in the tech industry. In October, while the hashtag ENDSARS went viral, Bundle, as well as other Nigerian startups and organizations, raised money for the decentralized protests which were spreading throughout the country.
But some groups of local activists, like the Feminist Coalition , had their bank accounts frozen. In desperation, they turned to Bitcoin. Donations poured in, and Jack Dorsey even promoted the cause on Twitter. Many videos was made showing that not all youths are into fraudulent businesses, but probably working hard to earn online or working with overseas companies.
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 is a decentralized digital currency or virtual currency that only exists on the internet. It is actually a file on a computer that is stored in the digital wallet of the owner. They have their particular use cases and types which I will explain in the next section.
For me, Luno , Quidax , Binance are a must-have if you want to quickly buy, sell, or trade bitcoins. Since they all support instant deposit and withdrawal in Naira, you should create an account with the 3 of them in case of an arbitrage trading opportunity. On Remitano, you can buy a huge amount of bitcoin at a very good stable price if you understand how to use it. If you need to sell or buy GiftCards safely at the best price, Redeeem is no doubt the best.
Finally, if you want to sell or buy e-currencies like Neteller, Paypal, Perfect Money, etc. This is the simplest type of exchange. It is the first generation of BTC exchanges. How it works basically is that you pay money to the exchange and they send bitcoin to you or, you send bitcoin to the exchange and they send money to your bank account? This type of exchange does not directly sell or purchase BTC from its users, rather they connect buyers to sellers and modulate the transaction using an escrow system.
This is an OTC between two persons directly. This is how It works;. In case Ivory refuses to make the payment or Mike refuses to confirm it, they both have to present proof to the exchange, and the exchange will release the bitcoin to whoever is correct and probably ban the liar.
Trades here are executed instantly. I have shown you the best 10 bitcoin exchanges in Nigeria and how to buy Bitcoin really fast on Luno. If you want to learn how to trade cryptocurrencies profitably, then enroll for our Crypto Currency Mastery Course by going to www. Am overwhelmed. You have opened my eyes. Almighty bless you.
How much do I need to start trading as a beginner? When will the course be out? Do you hold seminars? I yes,when will you be coming to Port Harcourt?
MT4 is not used in cryptocurrency trading 2. Thanks for the hard work Mr. Jude, honestly I want to let pple know about Zcnox. Thanks Jude for this write up, I hope to learn more from you and start trading bitcoin again. I used luno in but when I withdraw, they cut a lot of money… For example i want to withdraw K as displayed on their app , but I get about K credited in my account.
Could you please explain why this happens? I have reinstalled luno yesterday but son of man is broke and I dont know if you have ever experienced such before. Please is dia any physical office that deals with bitcoin trading bcuz i cum across a company name dat dey said dey r register members under bitcoin d name of d company is Richers Multi Purpose Inter-Biz ltd and dey say dia head quarters is in Lagos and dey hv branch in Abuja recently, Is dat true pls.
Thank you. Contact support or Try Quidax. It a good thing because you will rest assured that the platform you are dealing with is registered. Can you kindly send to me your whatsapp number or email address? Good write up, you should check tradefada.