Join the discussion One Comment. Bitcoin can be used as a way to pay for goods or services electronically. For one, credit card information is still at risk of exposure through cyber criminal attacks, even in the wake of increased customer and company measures to heighten information security. After that, your wallet will connect to the correct crypto payment address and amount, allowing you to finalize the payment. And those efforts all start with the BitPay mobile app. Then, add cryptocurrency to your wallet if you need it.
Bitcoin Exchange Types | Their Pro and Cons
I have been buying and selling bitcoin in Nigeria since mid In this post, I screened out the fraudulent and inefficient ones and listed only the best of the best. My list is based on the exchange type, its efficiency, reputation, speed, customer support, public opinion and my personal experiences with. So in this post, I will not only show you the best Bug exchanges in Nigeria but also educate you on the Bitcoin exchange types, their advantages and disadvantages. I am already excited, so if you are ready, let dive right in.
Can I return items that were purchased using Bitcoin?
Check your account number before we start exchange. You can also choose from our available packages:. Sell Now. Some countries have already given the official status to BTC. So, it is already possible to pay with virtual coins in cafes and restaurants, pay rent and even utilities in Belarus, the USA, Canada, Japan and other countries. BTC is easy to buy today. It is important for someone to get dollars, euros or rubles any fiat currency into which BTC can be converted as quickly as possible.
United States and Canada were the first countries where Newegg accepted BTC
I have been buying and selling bitcoin in Nigeria since mid In this post, I screened out the fraudulent and inefficient ones and listed only the best of the best. My list is based on the exchange type, its efficiency, reputation, speed, customer support, public opinion and my personal experiences with.
So in this post, I will not only show you the best BTC exchanges in Nigeria but also educate you on the Bitcoin exchange types, their advantages and disadvantages. I am already excited, so if you are ready, let dive right in. But hold on, If you are like me, I sometimes do not like to read but watch the video. So, I made a video of this post just for you, you can either watch the video below or skip it to read the text, the choice is yours. Visit Exchange.
Read Review. 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. This is an OTC between two persons directly. In case Ivory refuses to make the payment or Mike refused to confirm it. They both have to present proof to the exchange, and the exchange will release the bitcoin to whoever it corrects and probably ban the liar. Trades here are executed instantly.
The exchanges listed come in no particular order, however, I will group them into the type of exchange they fall. Ngexchanger 4. NairaEx 5. Remitano 7. LocalBitcoins 8. Paxful 9. I fell in love with quidax when I discovered it in Novemberespecially because of the speed with which it processes a withdrawal request.
Most times I get credit alert within the first minute of making a withdrawal request on Quidax. The transaction fee here is 0. Taker are those that set the price while Makers are those that buy or sell at the set price.
Read my full review of quidax including a video where I showed how to use the platform. Bitcoin exchanges in Nigeria cannot be talked about without mentioning Luno. Luno did for Africa what Coinbase could not do for Africa i.
This exchange was formerly called Bitx as can still be seen in credit alerts from processed withdrawal. Luno Trading Platform: There are 2 crypto-pair available for trade on Luno, however, this depends on the country you are trading.
The transaction fee also depends on your country, for Nigeria, its O. This is very similar to the way you buy on quidax. To get full details, read my Luno Review. That said, here are the steps. These exchanges ruled the Nigerian market especially inmany of then have faded out while others have stood the test of time.
Here are the best 3. It is based in Port Harcourt and sells and buys all cryptocurrency. Just mention it and they will source it for you. BlockVila was formally known as Ngexchanger but rebranded to Blockvila in August of It did this to expand its services beyond the shores of Nigeria.
There is also a possible move of its head office to Abuja. If the cryptocurrency you want to buy is not listed on the site, you ill have to contact customer support do so. At the end of the six months, you will be refunded that the initial. You can signup here to invest. Anyone who has bought or sold bitcoin in Nigerian in and must know of NairaEx. It was the most popular Nigeria Bitcoin exchange in this period.
At this time newegg buy in bitcoin amassed over thousand users and conducted over thousand transactions. Buy and Sell: NairaEx buys from you or sell to you the supported coins listed above, they do newegg buy in bitcoin provide wallets for these coins. This bitcoin broker was launched in April Although relatively new, it has proven its worth to be in the top 10 because of its solid service.
It has a beautiful, fast loading easy to navigate interface. It also displays a live chart it is home page, a feature you will rarely see in other OTC Broker exchanges. Transaction fee on Alphabits is not stated rather the rate is given. However, when compared with the price in Luno and Quidax, there is about 2. Visit Site. Remitano is the safest and the most used P2P exchange in Nigeria. Its beats other Peer-to-Peer exchange in terms of security, customer service, services offered and supported cryptocurrency.
I have been trading with Remitano since late when bitcoin was the only supported crypto on it. This exchange still remains my favourite P2P exchange and I have followed its progress to this day. You can chat up a trader when the trade is still open. When the trade is closed, you can no longer communicate with Seller.
If the trader refuses to release bitcoin to you, go for dispute. Paxful is a peer-to-peer bitcoin exchange that was founded in the USA. Its unique selling point is that it has over payment methods to buy bitcoin. I personally have not sold gift card for Bitcoin on this platform, But I have sold Neteller and Webmoney for Bitcoins.
Another amazing thing to know about Paxful is their Charity outreach, they have sponsored a number for a school building in Africa. You can out the youtube video. LocalBitcoins is one of the oldest bitcoin exchanges. Its is one the first bitcoin exchange I knew and the first P2P exchange. On this platform, you can buy and sell bitcoin using over 30 payment methods including Altcoins. Once the seller receives your payment, he will release the bitcoin to your LocalBitcoins wallet address.
The Coindirect exchange was launched in SouthAfrica in early an has since continued to gather momentum. Not so much in Nigeria but in South Africa. If you have been following this exchange since its inception, you will notice that it has continued to fine-tune its model to suit its customers.
Coincola was founded in Hongkong and has over 1 million users. In it started an active campaign to break into the Nigeria market and has received tremendous adoption. Coincola also, supports gift cards exchange for bitcoin which Remitano does not. All gift cards. To buy bitcoin on Coincola, I will recommend you read my coincola review. I have a good details video showing. Redimit: This OTC exchange is new, it offers excellent service, it might make my list in InstantGold: This exchange has existed for over 10 years now, the service is solid, however, It need to upgrade their interface.
Africa: This is a P2P exchange that should make the top 10, however, they need to beat the listed P2P to do so. If you have carefully followed this post, you will see that the exchange are not the. They have their particular use cases, so it depends on your use case. I trade regularly on Luno and Quidax, to exchange gift cards for bitcoin, I go to Coincola or Paxful depending on where the price is better at that moment. To exchange currencies like Neteller and Webmoney I go to Paxful and LocalBitcoins and make my choice depending on where I get a better deal, etc….
Secondly, if you enjoyed this post and want to see more like it, hit the social media logo below to share on your favourite social media. Thanks for your review Jude. However note that the N withdrawal fee does not go to quidax or Luno but to the payment processor; flutterwave, pay U, Paystack.
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Step two is actually making your purchase. After that, your wallet will connect to the gitcoin crypto payment address and amount, allowing you to finalize newegg buy in bitcoin payment. Bitcoin is one of the most innovative payment networks of all time because it uses peer-to-peer technology to operate with no central authority newegy bank regulation. Crypto users have more control over how their money is spent: cryptocurrency payments are push payments, meaning they can only be authorized by the owner of the funds. At Newegg, we pride ourselves on staying at the forefront of all things tech. I am trying to pay with bitcoim in the USA and do not see the option under billing. A guy! See All Deals. And because its design is open source, nobody owns or controls bitcoin. Kojack Vasquexz says:. They work with some of the biggest companies, like Newegg, to create a simple way for customers to make purchases with Bitcoin and other supported cryptocurrencies. He is a notorious coffee addict whose hands shake in anticipation of his next cup even as he types this bio. Cryptocurrency is a perfect payment method for the new ways we buy and sell, offering a seamless way to make transactions from anywhere in the world. Jn idea when payments with Bitcoin will be available for newegg. How do I pay with Bitcoin on Newegg?
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