Cryptocurrency Trading in Nigeria

The crypto industry in Nigeria albeit being a nascent industry is one that everyone should pay close attention to. With thousands of people in the country already seeing Bitcoin and altcoins as a perfect way to earn money from the comfort of their homes, most have sought out to learn how to trade.

If you’re one of those, then you’ve come to the right webpage.

Best Bitcoin Trading Platforms in Nigeria

The key to trading in Nigeria is using the best platform, that is why this piece will focus mainly on some of the best crypto trading platforms in Nigeria.

Without wasting much of your time, let’s dive in.

Luno Nigeria

Arguably the most popular crypto platform in Nigeria, Luno is a simple and easy to use trading outlet that has been designed to offer everyone in Nigeria and Africa a seamless trading service.

Launched in 2013 as Bitx, Luno is currently the first trading platform in Nigeria to allow users to buy and sell coins at zero transaction cost.

As mentioned earlier, the interface is arguably the best. Anyone regardless of crypto trading knowledge can easily buy and sell coins via this app. As of the time of writing, Luno supports the trading of over 50 different cryptos.

Currently available for download on Android and IOS devices, Luno has found a market in Nigeria.

Quidax

Launched in 2018, this platform has been designed to offer Nigerians a platform of international repute. Like Luno, Quidax has an impressive interface that makes it incredibly easy for anyone, regardless of experience to begin trading Bitcoin in Nigeria immediately.

Aside from being a trading platform, Quidax doubles as a wallet where you can store purchased coins. It currently supports the buying and selling of over 20 cryptos.

Coinbase Nigeria

If you follow global crypto news, then there’s a chance you must have heard of this trading platform. Arguably referred to as the best in the world because of its amazing interface and low transaction cost, Coinbase is also an ideal trading platform that Nigerians can take advantage of.

Like the others mentioned, Coinbase offers you the opportunity to buy and sell coins seamlessly. With support for over 100 coins, Coinbase is one of the best Bitcoin trading platforms in Nigeria.

Interested in learning more about cryptos as a Nigerian or African? Follow this blog for more informational pieces like this.

The Bidooh Platform

The digital billboards advertising market currently rakes in over $38 billion annually, making it one of the fastest growing industries in the world. Experts have predicted that before the end of the year 2020, the industry could have a yearly revenue of over $46.4 billion. Pretty interesting right?

Although being one of the fastest growing markets, the digital billboards advertising marketing which is otherwise referred to as the “Digital-out-of-home” (DOOH) market has been faced with certain problems. With these problems solved, the industry could rake in over $100 billion yearly and that would be a 100% increase in its current annual revenue.

A few of these problems that plaque this industry are

  1. Fraudulent activities
  2. The cost of creating and uploading adverts
  3. Too many intermediaries or middlemen
  4. Delays in posting adverts
  5. Being inaccessible to small investors

A solution to these problems have been developed and it is the Bidooh Platform. This platform has been described as an end to end digital billboards advertising solution that makes advertising easy and accessible for all. With this platform, all ad creators will be able to create and upload their ads in less than ten minutes.

designed in a way that all ads created get to the right audience at the right time.

How The Platform Works

First, ad creators will have to create an advert, select a location, set a budget, then upload to the system. The created advert will have to pass through a lightning fast system that has been developed by the platform. This system will access the ad and have it uploaded to the right screen in seconds

The Bidooh Tokens

The Bidooh token run the platform and will grant all industry players the opportunity to make use of the platform. With these tokens, all on the network will be able to

  • Access the platform
  • Earn rewards for holding the tokens
  • Engage and interact with others on the platform

Cryptocurrency News; South Korean Exchange Upbit Delists Privacy Coins

One of the leading South Korean exchanges, Upbit yesterday September 20, 2019, announced that it will stop the trading of about 6 cryptocurrencies, with five of them being privacy coins.

The exchange made this announcement via their official social media handle and according to the report, these coins will cease to be traded on their platform.

  • Monero (XMR)
  • Dash (DASH)
  • Zcash (ZEC)
  • Haven (XHV)
  • BitTube (TUBE)
  • PIVX

Upbit further revealed that it will no longer support deposit in these coins mentioned above and that transaction requests that have not been confirmed will not go through.

OKEx Exchange Set The Pace

This announcement is coming after leading crypto exchange OKEx removed support for about five cryptocurrencies based on international regulations.

The reason for this announcement is based on the fact that these privacy coins can be used to carry out fraudulent transactions. With this announcement by Upbit, other cryptocurrency exchanges are to follow suit.