Trade with Ease: The Best Crypto Platforms in Nigeria and Ghana

Introduction

The world has become more digital, and so has the way we handle money. Cryptocurrencies (or crypto) are a popular way to invest and trade in Nigeria and Ghana. In these countries, more people are turning to crypto trading platforms as a way to earn money and invest in digital assets.

In this article, we will explore some of the most popular crypto trading platforms available to Nigerians and Ghanaians. We’ll look at what makes these platforms unique and what they have to offer. Whether you are an experienced trader or just getting started, this article will provide valuable insights into the world of crypto trading in Nigeria and Ghana.

What is your goal?

Before you begin, you must understand that there are many ways to make (or lose) money in crypto. There’s the more active methods of DeFi, trading token pairs and currency arbitrage. Then, there’re the more passive: saving (aka hodling) and staking methods.

Before you begin, you must define your goals so that you’ll be able to pick the right strategy, tools and risk profiles. The main strategies are 

• Save stablecoins
• Buy and hold crypto
• Move money across borders (from one local currency to another)
• Trade token pairs
• DeFi: lending, futures etc
• Receive payments as a business, freelancer etc

List of Platforms

• Binance
• Remitano
• Luno
• Quidax

Binance

Binance is a blockchain company and crypto asset exchange, with its own layer 1 chain and it is popular in Sub-Saharan Africa because of its user-friendly app, simplicity, security, and speed. It boasts a staggering daily trading volume of over $76B.

Stats

• Launched in 2017
• Headquartered in Malta
• Offers 380 cryptocurrencies
• Available in 180 countries

Features

• Mobile app (iOS & Android)
• Web application
• Crypto Wallet
• Crypto Exchange
• P2P On/off ramp

Our Review

We give Binance a 90% rating.

They are the biggest exchange worldwide, they have tailored the user experience to Nigerian & Ghanaian users, they have over 4.4 stars on Play Store and 4.7 stars on the App Store.

Binance’s app can be hard on beginners, but there are a lot of tutorials that help you get started with the basics. You can learn for free with Mowblox.

What does it do well?

Binance is a fully featured platform, as a user you can do almost everything.

• Save stablecoins
• Buy and hold crypto
• Move money across borders (from one local currency to another)
• Trade token pairs
• DeFi, lending, futures etc
• Receive payments as a business, freelancer etc

Remitano

Remitano is a P2P trade marketplace. It has high reviews for its security and escrow feature which protects buyers and sellers. Remitano supports BTC, BCH, ETH, LTC, XRP, and USD.

Stats

• Launched in 2014
• Headquartered in Seychelles
• Offers 6 cryptocurrencies e.g Bitcoin, Ethereum & USDT

Features

• Web based application
• Crypto Wallet
• P2P On/off ramp
• Margin trading
• Crypto swapping

Our Review

We give Remitano an 85% rating.

Buyers and sellers like Remitano, because it’s been around for a long time. P2P is a lifesaver for Nigeria because of the ban on crypto transactions, and they charge some of the lowest fees. If you’d prefer an instant swap, they offer that as well

What does it do well?

This platform allows you to do a few things really well. They are:

• Save stablecoins
• Buy and hold crypto
• Move money across borders (from one local currency to another)

Luno

Luno is a popular crypto exchange and wallet provider. The platform pioneered the simple fiat-to-crypto buy in South Africa & Nigeria. It supports Bitcoin, Ethereum & Litecoin.

Stats

• Launched in 2013
• Headquartered in England
• Offers only Bitcoin, Ethereum, Ripple & Litecoin

Features

• Web based application
• Mobile application
• Crypto Wallet
• Cash On/off ramp
• Crypto Swapping

Our Review

We give Luno an 80% rating.

Another older company, who have been operating for almost a decade. They only offer Bitcoin, Ethereum, Ripple & Litecoin, when purchasing you don’t get the most competitive prices and their fees are higher than industry average. Because of Nigeria’s CBN order to ban crypto related institutions, you can no longer buy and sell directly to your bank account from Nigeria.

What does it do well?

This platform allows you to do a few things really well. They are:

• Save stablecoins
• Buy and hold crypto
• Cash on/off ramp

Quidax

Quidax is a user-friendly cryptocurrency exchange platform that supports various digital assets and fiat currencies. With fast transaction processing and a mobile app, it’s easy to access and trade on-the-go. Quidax prioritizes transparency, security, and customer support. It’s the perfect exchange for those who want to “quid” the fuss and focus on their trading game.

Stats

• Launched in 2017
• Headquartered in Malta
• Offers 23 tokens including Bitcoin, Ethereum, USDT & BUSD
• You can load Nigerian Naira, Ghana Cedis & US Dollars

Products

• Web based application
• Mobile application
• Crypto Wallet
• Crypto Swapping
• Cash On/off ramp
• Save and earn interest

Our Review

We give Quidax an 80% rating.

Conveniently deposit Naira or Cedis directly. They also have a seamless user experience for their platforms on web and mobile, though mobile is preferred. Earn interest when you save money in your wallet. You can also make money by trading crypto with their OTC (over-the-counter) order book feature.

What does it do well?

This platform allows you to do a few things really well. They are:

• Save stablecoins
• Buy and hold crypto
• Cash on/off ramp
• Earn interest when saving crypto
• Move money across borders (from one local currency to another)

Conclusion

Crypto trading in Nigeria and Ghana is a big deal and these platforms have been built to make it easier. So whether you’re a seasoned trader or a beginner, these platforms are worth checking out.

Despite the bank ban in Nigeria, these platforms offer alternative ways for users to buy and sell crypto.

FYI, if you’re new to crypto, you can begin your journey with Mowblox’s free crypto course.