15 Best Online Trading Platforms in Nigeria – Best p2p Trading Platform in Nigeria

In recent years, Peer-to-Peer (P2P) trading platforms have gained significant popularity as decentralized alternatives to traditional centralized exchanges. These platforms enable direct transactions between buyers and sellers, eliminating the need for intermediaries and providing users with increased control and security over their assets. This article will explore the Best Online Trading Platforms in Nigeria, focusing on the top P2P trading platforms that have made significant strides in 2023.

15 Best Online Trading Platforms in Nigeria – Best p2p Trading Platform in Nigeria

Binance P2P

Binance is a globally recognized cryptocurrency exchange that offers a P2P trading platform tailored for the Nigerian market. Users can trade various cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), using the Nigerian Naira (NGN) as the trading currency. Binance P2P is known for its secure and convenient trading experience.

Paxful

Paxful is a popular P2P trading platform with a strong presence in the Nigerian market. It supports over 300 payment methods, providing users with flexibility in their trading options. Paxful features a user-friendly interface, an escrow service, and a feedback system to enhance trust among users.

LocalBitcoins

Established in 2012, LocalBitcoins is one of the pioneers of P2P trading platforms in Nigeria. It allows users to trade Bitcoin directly with others using various payment methods, including bank transfers and cash deposits. The platform also offers an escrow service and a reputation system for secure and reliable trading.

Remitano

Remitano is a user-friendly P2P trading platform that supports a wide range of cryptocurrencies, including Bitcoin, Ethereum, and Tether (USDT). It employs an escrow system to secure transactions and provides a dispute resolution mechanism. Remitano also offers a mobile app for on-the-go trading.

CoinCola

CoinCola is a reputable P2P trading platform that gained popularity in Nigeria in 2019. It supports multiple payment methods, such as bank transfers, mobile money, and gift cards. CoinCola features an escrow service and a feedback system to build trust within the community.

BuyCoins

BuyCoins, established in 2017, focuses on simplicity and ease of use. It allows users to buy and sell cryptocurrencies directly using the Nigerian Naira. With an intuitive interface, BuyCoins is suitable for both beginners and experienced traders, offering a built-in wallet for convenient storage.

Quidax

Quidax combines centralized and P2P trading, providing a secure environment for trading various cryptocurrencies. Supporting Nigerian Naira deposits and withdrawals, Quidax offers a simple and intuitive interface for both novice and experienced traders.

NairaEx

NairaEx, a Nigerian-based platform, enables users to buy and sell cryptocurrencies using the Nigerian Naira. It offers competitive prices, real-time market data, and responsive customer support.

CoinDirect

CoinDirect is a P2P trading platform emphasizing security and privacy. Supporting various cryptocurrencies and payment options, CoinDirect employs robust encryption measures and has a responsive customer support team.

Yellow Card

Yellow Card focuses on making cryptocurrency accessible to everyone in Nigeria. With a user-friendly interface, it supports Bitcoin and other cryptocurrencies, offering multiple payment options such as bank transfers, cash, and mobile money.

Busha

Busha is a Nigerian P2P trading platform known for simplicity and accessibility. It allows users to buy and sell cryptocurrencies with ease, supporting popular options like Bitcoin, Ethereum, and Litecoin.

CoinMama

Although not strictly a P2P platform, CoinMama has gained popularity in Nigeria for its simple and secure way to buy cryptocurrencies using credit cards or bank transfers. It supports a wide range of cryptocurrencies.

NaijaCrypto

NaijaCrypto focuses on providing a seamless and secure trading experience for local users. It allows users to trade directly with each other, supporting a wide range of cryptocurrencies.

Luno

Luno, a well-established online trading platform, offers a user-friendly interface for buying and selling cryptocurrencies. While not strictly P2P, it provides a secure wallet and educational resources.

Bitzlato

Bitzlato is an international P2P trading platform gaining popularity in Nigeria. It supports diverse cryptocurrencies, offers a secure escrow service, and facilitates seamless transactions with multiple payment methods.

Roqqu

Roqqu is a Nigerian online trading platform that caters to both P2P and centralized trading. It is a user-friendly platform and supports a wide range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Roqqu provides a convenient mobile app for trading on the go and offers competitive prices. The platform also implements robust security measures to ensure the safety of users’ funds and personal information.

F.A.Q

What is the best P2P platform in Nigeria?

Remitano stands out as the most frequently used peer-to-peer exchange in Nigeria. Its escrowed platform connects buyers and sellers directly, supporting a variety of cryptocurrencies, including Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Bitcoin Cash (BCH), Ripple (XRP), and Tether (USDT).

Which P2P is the best?

OKX is recognized as the overall best peer-to-peer exchange, offering a comprehensive platform. OpenPeer excels as the best decentralized P2P exchange, while Binance boasts a highly liquid marketplace with over 100 supported payment methods. KuCoin is popular in emerging markets, and Paybis supports an extensive range of crypto and fiat assets.

Is P2P legal in Nigeria?

Crypto trading is legal in Nigeria, but banks are restricted from facilitating crypto transactions. Consequently, Nigerians have embraced P2P trading to conduct crypto transactions within the legal framework.

How many P2P platforms are there?

Currently, Europe hosts 159 P2P lending platforms. Among these, 82 offer automatic investment features, and 53 provide a secondary market for early investment exits. Two platforms are exclusively available for institutional investors.

How do you make $100 a day on Binance?

To make $100 a day on Binance, one could employ a strategy where a $1000 investment, tracking a 10% daily rise on a specific pair, results in a $100 profit. Replicating this process daily would yield a consistent daily income of $100.

Can you make money with P2P trading?

Yes, you can make money with P2P trading, and the example you provided illustrates an arbitrage opportunity. By exploiting price differences between platforms, traders can buy assets at a lower price on one platform and sell them at a higher price on another, earning a profit. Additionally, trading fees, as in the case of Binance P2P, contribute to potential earnings. However, it’s important to note that P2P trading involves risks, and success depends on market conditions, transaction speed, and fees incurred.