Cryptocurrency brokers in nigeria
Plus500 is a big name in the trading industry. They have a really low minimum deposit requirement and a great trading site.
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Best cryptocurrency brokers for 2021
Daniel ‘harris’ major
I have tested 40+ crypto brokers. You can find the best cryptocurrency brokers below. This is by far the easiest way to get started with cryptocurrencies.
Cryptocurrency trading has become really popular in the past years. It’s growing more ever year.
Many big trading brokers have already added some of these cryptocurrencies. Everybody can sign up and start trading bitcoin or other crypto coins. This is the easiest and probably the simplest way to invest in cryptocurrency.
After trying out most brokers, here are the best cryptocurrency brokers:
Best cryptocurrency brokers (non-US traders only)
Plus500 – top rated trading platform
Plus500 is a big name in the trading industry. They have a really low minimum deposit requirement and a great trading site.
Buy/sell cfds on bitcoin in addition to buying stocks, commodities, forex etc (traded only through cfds). Plus500 is the most complete trading platform.
- Trade cfds on bitcoin & many other cryptos
- Minimum deposit is only $100
- Regulated and trusted platform
- Very fast signup process
- Live chat
- Many payment methods (even paypal)
- You cannot withdraw any cryptocurrency
- You have to complete a questionnaire, upon sign up
Plus500 disclaimer: 76.4% of retail CFD accounts lose money.
IQ option – lowest minimum deposit ($10)
If you don’t want to make a huge initial investment, then IQ option is the best broker for you. The minimum deposit requirement is only $10. This is by far the lowest in the industry.
- You can trade many cryptocurrencies
- Minimum deposit is only $10
- Best trading platform
- Multiple account currencies
- Free demo account
- Regulated by CYSEC (#247/14)
Etoro – top crypto broker
Etoro is a really popular trading site. They have been around since 2006. Etoro is regulated by CYSEC, FCA and ASIC.
Buy/sell bitcoin on etoro in addition to buying stocks, commodities, forex etc. Etoro is the most complete trading platform.
- Trade bitcoin & many other cryptos
- Minimum deposit is $200
- Regulated and trusted platform
- Australian traders are also accepted
- Great support team
- Many payment methods (even paypal)
- You cannot withdraw any cryptocurrency
- You have to complete a questionnaire, upon sign up
Etoro disclaimer: 71% of retail CFD accounts lose money.
Highlow – best all-round crypto broker
Due to regulation highlow stopped accepting traders from the EU and UK.
Highlow is an australian trading broker (AFSL no.364264). What I like most about this broker is the intuitive platform. It is so easy to use. Especially new traders will like the clean layout.
I’ve been using highlow for a few years now and I never had a problem. Highlow publishes their number of trades on the homepage. There are millions of trades on this broker each month.
I use the main platform which is web based. This means, that you don’t have to download any software. This platform is stable and safe (they use SSL).
I have also tried the ios app and the android app. They are great, but I just don’t like trading on smartphones in general.
The payouts on highlow are amazing (up to 200%, which is more than on other brokers).
Highlow is a great broker for cryptocurrencies (but only if you are not from EU,UK, US). They have a good reputation, great support team and awesome promotions for new traders.
- Trade bitcoin & other cryptos
- Minimum deposit is only $50
- Regulated and trusted platform
- Fastest signup process (no questionnaires)
- Multiple account currencies
- Free demo account (no registration needed)
Nadex – US traders welcome
Nadex is a CFTC regulated broker. In fact, this is probably the only US broker that has this regulation.
Only US traders are allowed on nadex. Non-US traders check out the next broker.
Update OCTOBER 2019: looks like nadex removed crypto trading. After contacting them I found out that they will add it back soon. Register on nadex now and get updated when they add it.
Recently, nadex started offering bitcoin trading.
- Trade bitcoin, forex or binary options
- Minimum deposit is $250
- CFTC regulated broker
- Great support team
- Many payment methods (even paypal)
Crypto brokers with most cryptocurrencies
Here are the most popular cryptocurrencies offered by cryptocurrency brokers:
- Etoro – bitcoin, ethereum, litecoin, dash, ethereum classic, NEO and ripple.
- Plus500 – bitcoin, ethereum, litecoin, bitcoin cash, ripple, IOTA.
- Avatrade – bitcoin, ethereum, ethereum classic, ripple, dash, bitcoin cash litecoin, monero and NEO.
Lowest minimum deposit brokers
These are the best brokers with low minimum deposit requirements:
- Etoro – $200
- Plus500 – $100
- Avatrade – $100
This is really important because the crypto market itself is unregulated. Depositing on a regulated broker means that your money is safe.
We’ve also looked at the support team and the payment methods. You can deposit easily using multiple payment methods on the brokers below.
Top rated brokers that have cryptocurrencies
While we are all familiar with the broad definition of a broker, is there something more to it when it comes to cryptocurrencies?
Simply put, a cryptocurrency broker refers to a website that traders will visit to trade cryptocurrencies at a set price. In many ways, they are similar to forex brokers whose services are a lot more familiar to the general public.
Etoro disclaimer: 71% of retail CFD accounts lose money.
You still can’t decide which broker is best for you?
How to choose your cryptocurrency broker
Is leverage really necessary? Cryptocurrency markets are volatile in nature with prices fluctuating immensely thereby generating high profits even in the absence of leverage. But for some traders, the desire for more earnings justifies the use of leverage.
Before choosing your broker, settle yourself on whether the already immense profits that come from a cryptocurrency market are enough for you or you would like to use leverage to enhance them even further, bearing in mind, of course, that will also significantly increase the risk factor to your funds.
Negative balance protection: it is always advisable to trade with a broker that affords the negative balance protection facility. That way, you will never be at risk of losing more than what you invested in case you sustain very heavy losses.
How suitable is the required capital for you? This is another subjective part to your decision. Do you prefer trading with a small capital or bigger one to help you zero in on bigger returns? Find out what size trades your broker is offering before you open an account.
Narrow spreads for the win: let us be honest, it is only fair that your broker gets a cut from the money you generated having provided you with the essential facilities for it and all. But let us be honest, you definitely want every last dime for yourself.
A spread refers to the difference between the buying price and selling price of a trade and it varies with each broker. The spread is what counts as fees for your broker so the smaller it is, the lower the cost will be on your part.
Lets go into what aspects you as a trader must consider when choosing a broker to trade cryptocurrencies.
Which cryptocurrencies are you interested in trading?
Make sure you have decided on which cryptocurrencies you want to trade in before signing up with your broker.
If your choice is a prominent cryptocurrency like bitcoin (official site), litecoin (official site), or ethereum(official site), there will be a relatively broad availability of brokers that have trading options for those. However, less prevalent examples like monero, IOTA, or zcash may be a little harder to come by.
So study the cryptocurrencies being offered by a broker before you sign up for an account.
Pros and cons of cryptocurrency brokers
Here are some features that these broker have or don’t:
pros
- Signup up with a crypto broker is probably the fastest way to get started with cryptocurrency trading
- If you are less tech-savvy then a broker is safer for you
- You can start buying cryptocurrency while traditional exchanges don’t always accept this payment method
- Most of the time you can’t withdraw cryptocurrencies from a broker. You have to exchange it back to fiat money (USD/EUR etc.)
Cryptocurrency brokers – what to look for
Here are some of the more understated details about your cryptocurrency broker that could make your trading experiences so much more efficient and successful.
1. What are the weekend hours like?
This is a key detail that distinguishes cryptocurrencies from other prominent trading markets like forex, futures, and equity. Cryptocurrency brokers operate during the weekends as well.
There is virtually no difference in purchasing bitcoin at the end of the week as opposed to the middle of the week during peak hours.
But there is a catch. While digital currency exchanges are available during the weekend, your broker may not (why is the stock market closed on the weekend?). So in effect, if there is considerable movement within your relevant cryptocurrency market during a weekend when your broker is not operating, you may not have the ability to respond in any way.
2. How is it hedging?
Your broker is probably not keen on revealing if it is hedging cryptocurrency traders but it is important information for you to know.
Why is it so important for you to know?
Because, as a trader, you want to be absolutely in the clear regarding the policies for risk management being followed by your broker. Let us not forget that cryptocurrency markets are extremely volatile and an unhedged broker is more easily prone to major losses incurred by its clients. Naturally, those costs will warrant compensation via fatter spreads and additional costs for traders. It will be best to sign up with a broker that will not withhold the relevant information from you.
More great features you could be interested in
Commissions and trading on margin – an important thing to note while trading cryptocurrencies is that their prices tend to be more similar to equities than they are to real currencies. So your broker could be charging you commissions in addition to a wide spread on each trade. That, of course, raises the cost probably a bit much for your liking.
Another similarity with equities is that the margin conditions with cryptocurrencies are significantly more than they are with forex or cfds. Consequently, leverage is usually up to 10x. How considerable the margin rate will be for traders is down to what trading strategies and risk management they subscribe to.
Authenticity of market data – aside from merely evaluating how it influences spreads, market data for cryptocurrency CFD prices can be a good indicator of how the quality of the product will be in the future.
One of the more recent examples of this is BTC-e which was an immensely popular platform for trading bitcoin before it was shut down by feds. BTC-e was the first bitcoin exchange to incorporate forex trades and so made their exchange accessible via MT4 and supplied cryptocurrency liquidity for brokers.
But once it was shut down, every broker that depended squarely upon BTC-e was left with no hedging options or market data to put a price on its crypto cfds.
Are short sales available? For many traders, shorting is a crucial strategy option, the lack of which can be a deal breaker with a potential broker. Many brokers tend to offer ‘long’ only since there are only a few hedging solutions when opening short trades.
As you see, investing in cryptocurrencies can be a truly lucrative venture for you but only if you get it right.
And a lot of that is down to which broker you decide to trade with.
Ready to start trading?
Trade with the cryptocurrency brokers listed above to make sure that your money is safe, you pick a broker with a stellar reputation and you keep the fees low. Excel at trading bitcoin by creating your own trading strategy.
These cryptocurrency brokers make it really easy to trade bitcoin and other coins. You don’t have to be a trading expert. It helps if you know what a blockchain is or how the ledger and transactions work, but this is all optional.
Sign up now and see for yourself how easy it is to get started.
Fundamentals of cryptocurrency trading in africa
Last updated on july 27th, 2020 at 02:47 pm
Cryptocurrencies bring profit to those who can foresee price dynamics. Here is how to trade them via cfds in nigeria and south africa.
What is cryptocurrency trading?
Cryptocurrency represents a new generation of monetary systems. These are entirely virtual assets that fit in the context of cashless economies. Humans were used to physical money for thousands of years. Now, like many other sides of human existence, money is digital.
Cryptocurrency trading does not involve any physical exchange. Today, its most popular dimension is cfds (contracts for difference). Residents of south africa and nigeria do not need to own bitcoin or altcoins to profit from their value. Through a CFD, you speculate on price dynamics alone.
Benefits of cfds
So, what makes cfds better than crypto money itself? This question is bound to pop in your head. The key consideration is safety. All too often, transactions in digital currencies are associated with data leaks and other types of cybercrime. This prompts more and more governments to limit the circulation of crypto coins on their territory.
With cfds, you need not worry about fraud or stringent regulations. Short for contracts for difference, the abbreviation denotes a special agreement with one’s broker. Clients may profit from price trends alone. No coins are bought or sold: only the instrument is traded.
The second advantage is the leverage. Holders of cfds may trade on margin, which means they can open positions for more than they deposit. Brokerages boost clients’ buying power with their funds according to a special ratio. The most common range is between 1:1 and 1:100. For instance, you may be able to trade $100,000 worth of crypto having just $1,000 in your account. Clients with smaller deposits use larger leverage and vice versa.
Finally, cfds are accessible to anyone. Entry to the physical stock exchange costs thousands of dollars. Meanwhile, CFD accounts are affordable for the general public. Learn about conditions for cryptocurrency traders in africa to benefit from them.
Be aware of risks
Leverage is appealing, but it is also dangerous for rookies. Higher volume of trades corresponds to higher risks, as these go hand in hand. While large gains are everyone’s goal, do not get overly excited. Make rational decisions and determine the acceptable degree of risk per trade. A CFD trade inflated via leverage may empty your account. It must be used with caution.
Which currencies are accepted
The most famous digital currency is bitcoin. Cfds may also be linked to other contenders – so-called altcoins. These include ethereum, litecoin, and ripple. As a basis for cfds, they are all priced against the US dollar. Choose the currency you know best – it will be easier to foresee its movements.
What C fds are all about
Cfds are traded through registered brokers. In nigeria and south africa, locals may use the services of trusted global brands. These companies act as intermediaries between their clients and the CFD market. They register accounts, provide software, and process all related operations. It is important to work with a licensed firm that is also monitored by entities like the cysec. Usually, cfds are offered along with other instruments: currency pairs, stocks, binary options, etc.
Any CFD is a contract with your broker on the subject of price. Aside from digital coins, it may be linked to commodities, market indices, stocks, etc. While cryptocurrency (e.G., ripple) is the underlying asset, it is never owned. Clients bet on trends and reap profits if their predictions come true. This could make trading sound like gambling. However, these activities are drastically different. Traders make informed decisions based on an in-depth analysis of market indicators and updates from the media.
Brokers like FXTM allow residents of nigeria and south africa to buy cfds online. They are traded via desktop and mobile terminals (e.G., metatrader 5). The activity is similar to currency trading in terms of core principles. Traders aim to foresee trends and open positions to benefit from the changes.
In comparison with physical shares, cfds represent an entirely different world. The exchange and all transactions on it are virtual. Buyers and sellers connect via software. A registered account is your pass into the realm of live CFD trades.
When to buy and sell
If you are familiar with forex, CFD trades are a piece of the pie. Analyze the price dynamics for the underlying coin. Is it likely to lose or gain value? Buy more cfds before a spike and sell them later for a profit. Alternatively, sell the instrument if it is expected to collapse. Afterward, you may purchase more lots for less. The market goes through ups and downs all the time. The thoughtful analysis pays off!
How to begin
Contact your local brokerage for information on their CFD accounts. These instruments may be traded on their own, or as part of diversified portfolios. Cfds on cryptocurrencies are easily accessible, and they bring tangible benefits.
25 top nigerian cryptocurrency influencers 2021
In today’s post, we are going to look at the list of 25 nigerian cryptocurrency influencers.
Bitcoin is trending in nigeria today, and everyone wants to associate themselves as a crypto influencer.
But how, then, do you know the right influencers?
You don’t need to worry about that, ’cause in this post, you will get to know the profiles of authentic nigerian crypto influencer.
Let’s check this out together!
Bitcoin | crypto influencers on twitter that are nigerians
Cryptocurrencies are breaking barriers and nigerians have evolved with this trend.
In practical terms, every nigerian that is a bit enlightened about cryptocurrency appraise themselves “crypto influencer “.
But the list below contains the profiles of persons that are wholly involved in pushing cryptocurrency to a befitting place in nigeria.
This list comes in no particular order; let’s shoot off!
1. Chris ani
Chris ani is the face of cryptocurrency influencer in africa.
He emerged the winner of cryptocurrency influencer in africa for 2020, organized by binance.
He is an entrepreneur and a crypto trader, investor, and crypto-lover who believes in blockchain technology.
Chris is the founder of daba; an online educational platform and he is the author of crypto 101; a book about bitcoin for beginners.
Chris has 4,521 followers on twitter, and you can follow him here.
2. Paul ezeafulukwe
Cryptocurrency matters in nigeria, today, cannot be discussed without having paul ezeafulukwe at the forefront.
Paul is the current chairman of SIBAN (stakeholders in blockchain technology association of nigeria).
As the chairman of SIBAN, he is dedicated to fishing out every bitcoin scam plotted against bitcoin investors in nigeria.
3. Yele bademosi
Yele is the former director of binance lab; blockchain technology and a venture firm of binance.
He is the founder of bundle africa; a nigerian payment app sponsored by binance.
He is equally the founder of microtraction; an investment platform that funds startup companies in africa.
Yele has 7,628 followers on twitter...Follow him here.
4. Olaleye awe
Olaleye awe a.K.A prof. Awe is a much sought-after crypto trader and influencer that virtually shows up in every big crypto meet-up in nigeria.
He is the CEO of alpha training lab; a foremost cryptocurrency trading community in nigeria.
He has been a guest speaker in webinars held in nigeria by luno and binance.
5. Buchi okoro
Buchi okoro is the CEO of quidax, a trading and broker exchange in nigeria.
Quidax was founded in 2018 and is a major contender of luno.
Buchi has 1,271 followers on twitter, follow him here... You can also follow quidax here.
6. Timi ajiboye
Timi is a software developer and the founder of buycoinsafrica.
He is also the co-author of the little bitcoin book and co-founder of tixdotafria; a platform created for event planners to sell their event tickets.
Timi has 13,000 followers, and you can follow him here. You can also follow buycoins.Africa here.
7. Senator ihenyen
Senator ihenyen is best described as the lawyer for everything that is crypto in nigeria.
He is a tech-savvy, blockchain enthusiast who devotes his time to training lawyers on blockchain and its regulatory features.
Senator ihenyen plays the role of a legal consultant for blockchain and cryptocurrency companies including; kurecoin, paxful etc.
8. Samuel joseph D.
Samuel joseph popularly known as samstickks, has been in the cryptocurrency space for 4 years now and still counting (since 2016).
He is often described by his fans as one of the best crypto-analyst and cryptocurrency tutor.
Samstickks runs a youtube channel where he educates people about cryptocurrency.
9. Ezenwaogene ifeanyi
Ifeanyi ezenwaogene is the founder of crypto fortune; an online crypto trading masterclass in nigeria.
He is a crypto trader, blockchain enthusiast and one of the okex sales ambassadors in africa.
10. Chike okonkwo
Chike okonkwo is a blockchain enthusiast with a good knowledge on cryptocurrencies.
He is currently, the business development consultant at okex, and was the chief operator officer for bitfxt.
11. Chimezie chuta
Chimezie chuta is a certified cryptocurrency professional and blockchain solution architect.
He is the founder of blockchain nigeria user group, and the co-founder of blockvisory tech ltd.
He is also the CEO of blockspace africa technologies and the former regional director for africa at paxful.
Chimezie chuta has 2,977 followers on twitter, and you can follow him here.
12. Charles okaformbah
Charles okaformbah is a techpreneur and blockchain-solution architect.
He has a good knowledge on cryptocurrencies and smart contract technology.
Chris is the co-founder of vessel trust; a blockchain-based company nigeria.
13. Danny onyekan
Dan onyekan is one of the pioneers of bitcoin in nigeria, and he has been in the bitcoin space since 2012.
He is the founder of dan holdings; a blockchain company based in dubai.
Dan has 5,041 followers on twitter, and you can follow him here.
14. Munachi ogueke
This guy is a highly motivated bitcoin|blockchain fan.
He is the chief business officer at yellow card nigeria, and the CEO of cryst; a blockchain-based company in nigeria.
15. Obi nwosu
Obi nwosu is a britain based nigerian bitcoin expert, and the CEO of a UK based crypto exchange; coinfloor.
He is keen about bringing the benefits of bitcoin to the world in a simple and plain term.
He has 3,293 followers on twitter, and you can follow him here.
16. Toju kaka
Toju kaka is an avid bitcoin evangelizer in nigeria.
He has worked for a good number of blockchain companies including; boscore, tokenpocket and eos nation.
He is the business development manager at okex, and the author of “understanding EOS“.
17. Franklin peters
Franklin peters is an internet marketer, crypto| blockchain and ICO consultant.
He is the founder and CEO of bitfxt, a cryptocurrency exchange company for africa.
Franklin is the vice-chairman for projects, funding & strategic partnerships at SIBAN.
18. Emmanuel babalola
Emmanuel babalola is the business development manager at binance in nigeria.
He has been featured on coindesk and some other bitcoin media for his zeal in empowering and popularizing bitcoin trading in nigeria.
19. Tola joseph fadugbagbe
Tola is the founder of cryptomaster masterclass; an online cryptocurrency education platform.
He is one of the nominees for the top 6 crypto influencer in africa organized by binance.
Tola has 11,600 followers on twitter, and you can follow him here.
20. Gauis chibueze
Gauis chibueze is a bitcoin entrepreneur who started his journey in the cryptocurrency space since 2011.
He is the CEO| CMO of tatcoin|abinetwork, and he proclaims himself the bitcoinchief on twitter.
Gauis has 4,888 followers on twitter, and you can follow him here.
21. Nathaniel luz
Nathaniel luz is a self-motivated crypto influencer in nigeria who wishes to scale up the adoption of cryptocurrency in africa.
He is the team leader of dash nigeria, and the co-founder of nepsium; dash payment-gateway.
He is also the author of “digital is the cash,” a book he wrote out of his passion for cryptocurrencies.
22. Ib macdonald
Ib macdonald is the first female entrepreneur who made it to the list of crypto influencers in nigeria.
We hardly find females who are passionate about cryptocurrency in nigeria but here is a hardcore crypto trader, investor and lover.
She is the CEO of cryptoharvest; a private cryptocurrency and forex trading online class.
23. Jude umeano
Jude umeano is a crypto influencer and a bitcoin aficionado.
He is the founder of nigeriabitcoincommunity.Com and the CEO of ctmastery; an online crypto trading course.
Jude drives the adoption of cryptocurrency in nigeria, and you can subscribe to his youtube channel here.
24. Damilola odufuwa
This lady, damilola, is the head of PR for africa at binance.
She is passionate about blockchain and has 3000 followers on twitter. You can follow her here.
25. Blockchainnigeria
Blockchainnigeria is the voice of blockchain and cryptocurrecencies in nigeria.
The team behind it is responsible for planning and organizing blockchain events in africa.
Blockchainnigeria has 3,312 followers on twitter and you can click here to follow.
26. CDIN
CDIN stands for cryptography development in nigeria.
It is a non-profit professional organization founded to address the gaps in the learning and practice of cryptography in nigeria.
CDIN has 1279 followers on twitter and you can click here to follow.
27. Nigeriabitcoincommunity.Com
Yeah. You can follow us here on twitter. Nigeria bitcoin community has been in operation since 2016.
It is our mission to educates and keeps you updated on everything crypto – bitcoin, altcoins, exchanges with their reviews.
We do well to expose any fraudulent crypto projects so you would be wary of them and not fall prey to their activities.
Conclusion
Now that I have come to the concluding part of this post,
I won’t like to put an end to it without getting your opinion.
Who do you think is the most active crypto influencer in the list?
Do you think there are other nigerian crypto influencers on that I have missed out?
You can put down your thought in the comment section below.
To abet crypto evangelism and awareness…do well to share this post.
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- What does nigeria’s proposed crypto regulation mean for crypto in africa?
What does nigeria’s proposed crypto regulation mean for crypto in africa?
While no details on the specifics of the regulations are available yet, the new rules could have big implications.
The securities and exchange commission of nigeria recently announced that it will be regulating the trade of digital currencies in the country. “issuers or sponsors of virtual digital assets shall be guided by the commission’s regulation,” the regulator said in a statement.
The move is intended to protect investors’ best interests and to promote transparency within the space: “the general objective of regulation is not to hinder technology or stifle innovation, but to create standards that encourage ethical practices,” the regulator said.
Regulations could bring more legitimacy–and more investors–to crypto in nigeria
While there are not too many specifics about what the regulation will look like, the agency said that the regulations will apply “when the character of the investments qualifies as securities transactions.” in other words, if the digital assets can be classified as securities, they will fall under the jurisdiction of the nigerian SEC.
And even though the regulation has not hit the books yet, the fact that the nigerian SEC is making moves toward regulating cryptocurrencies seems to represent a shift in the country’s attitude toward cryptocurrencies. After all, the central bank of nigeria did declare in 2018 that crypto-currencies including bitcoin, ripple, monero, litecoin, dogecoin, and onecoin, were not regarded as money.
A legal classification as a ‘security’ certainly will not make cryptocurrency into ‘money’ in the eyes of the law, either. However, the fact that the nigerian SEC is recognizing that cryptocurrencies are, indeed, securities (and that as such, they need to be regulated) is a step forward.
This is because as more regulations have been applied to the cryptocurrency industry in other countries, more investors, particularly those of the institutional stripe, have tended to follow. It seems that investors may feel safer to enter the crypto space when regulators are present to abate the effects of fraud and other mishaps.
And indeed, cryptocurrency regulations can have a stabilizing effect on the space. Ayodeji ebo, managing director at afrinvest securities in lagos, told bloomberg that “crypto transactions are already happening and the earlier it is regulated, the less havoc on the economy,” and that the emergence of crypto assets and relevant regulations “is another way to provide alternative assets to investors.”
“nigeria is a crypto hotspot”
Even without the presence of regulations, it seems that investors in nigeria have already been taking a dive into the world of cryptocurrencies.
Fernando martinho, chief executive of fintech crowdfunding service, nimbus platform, told finance magnates that “nigeria is a crypto-hotspot.”
“it is the biggest crypto market in africa, especially regarding consumer adoption,” he said.
This is evidenced by several metrics: “according to google trends, nigeria is ranked first worldwide in google searches for terms like ‘bitcoin’, ‘ethereum’,” martinho told finance magnates.
Martinho also said that “the country is also one of the biggest sources of BTC trading volume in africa.”
Citing a recent report from chainalaysis, he explained that “nigeria, south africa, and kenya lead the continent in monthly crypto transfers.”
The high amount of interest in cryptocurrencies seems to be the largest driver in the nigerian SEC: “such big interests from the residents of nigeria push regulators to adopt appropriate legislation,” martinho commented.
More regulations tend to bring in more institutional investors
While most of the interest in cryptocurrencies in nigeria seems to be driven by retail investors, martinho also stated that “institutional adoption will likely follow once there are more comprehensive regulations” in place.
A similar phenomenon has been observed in other countries that have adopted higher levels of regulation for the cryptocurrency industry.
Indeed, ciara sun, head of global markets at huobi group, said at a cointelegraph event in july that “larger institutions have higher compliance requirements, but regulatory agencies have not provided enough guidance on digital assets in the past.”
“this unclear regulatory landscape has made it riskier for larger institutions,” she said.
However, even without the immediate entrance of institutional investors into the nigerian cryptocurrency industry, there is still huge potential for growth of the crypto industry.
Bitcoin and other cryptocurrencies could fill a financial services gap in nigeria and beyond
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For one thing, a lack of many of the traditional financial services that are often taken for granted in more developed countries are lacking in nigeria.
This is because financial regulators in a number of african countries, including nigeria, have imposed significant restrictions on how citizens can spend their money.
Ray youssef, chief executive of cryptocurrency exchange paxful explained this phenomenon in an interview with finance magnates earlier this year: “[african people] have a lot of money there. They just can’t use it,” he said.
This is because “the banking system there is disconnected from the rest of the world,” ray explained; the problem even exists between countries within the african continent: “if you’re in western africa and you want to send money out of the country, it’s nearly impossible. You have to go to three or four or five hops. You have to use your friends and family networks.”
Therefore, “there is a real, true need for bitcoin [in africa],” youssef said, “not on a speculative basis, but on a real utility basis.”
Additionally, nigerian financial news outlet nairametrics reported in august that some nigerian banks had reduced their customers’ dollar-spending limits to as low as $100, causing major problems for some citizens: “nigerians rely on their debit cards to pay for online transactions that are billed in US dollars,” the report said.
This reduction in dollar spending limits, which were already quite low, has forced nigerians to seek dollars elsewhere. In 2015, before bitcoin truly ‘took off’ in nigeria and elsewhere in the world, quartz reported that “if you can’t access foreign currency through official channels, you are left with no choice but to use the black market at much higher rates.”
The ‘leapfrog’ effect
Therefore, it seems quite likely that part of bitcoin’s apparent popularity in nigeria has to do with the fact that it can be used to pay for some products that can be sold online; it can also be used to more easily access foreign currencies, including USD. In other words, the popularity of bitcoin in nigeria is linked to the fact that BTC is being used for practical purposes rather than speculative trading and investing.
As such, the regulation of cryptocurrencies in nigeria, and the entrance of institutions that could follow, could make cryptocurrency adoption in the country truly explosive.
This adoption could continue to extend beyond nigeria and into some of the more rural areas of the african continent. This is because of a phenomenon known as the ‘leapfrog effect.’
What is the leapfrog effect? Before the era of mobile phones, constructing the necessary infrastructure to create a continent-wide landline phone network in africa was extremely inefficient in terms of time and expenses; it was also very impractical to install telephone poles and cables in rural areas that were not easily accessible by road.
However, the mobile phone industry brought a new era of accessibility to areas of rural africa. While the landline phone industry struggled from start to end, and never really took off, the mobile phone industry flourished across the continent almost immediately.
Cryptocurrency adoption in african markets, including nigeria’s, appears to be taking a similar course. The traditional, brick-and-mortar banks that are stalwart pillars of the developed financial world are impractical and inefficient for africa in the same ways that the landline telephone industry was.
However, the crypto industry, which happens to be highly accessible through mobile phones, seems to be stepping in where traditional financial services failed. Through crypto platforms, millions of people who previously did not have access to financial services can now have them.
Watch this space
In addition to the financial services gap that cryptocurrency and blockchain can fill across africa, the fact that the continent’s population is skewed toward younger generations means that africa is likely to play an increasingly powerful role in the global economy.
“demographically, african future generations will probably define a significant portion of global trends as a consumer group, driving further adoption for technologies suitable for consumer preferences,” nimbus platform’s fernando martinho told finance magnates. “cryptocurrency is one such technology.”
Therefore, the introduction of regulation for the cryptocurrency industry in nigeria could bolster a space that is already poised to boom.
However, it is still too soon to know exactly what the effects of the proposed regulation will be, after all, the details are still unknown.
Indeed, paxful’s ray youssef said that “regarding the proposed rule by the nigerian securities and exchange commission (SEC) to regulate crypto-token or crypto-coin investments, we are at too early a stage to make any comment. We are analyzing the impact of the current information on the business and also on the community.
“that said, we are open to an opportunity to talk to the regulators and help showcase the various benefits that we’ve learned through the years that cryptocurrencies provide,” he added. “we envision building and helping communities to be financially independent. We see africa as a leader in fulfilling this vision.”
Bitcoin trading
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What is bitcoin?
Bitcoin is the world’s first digital currency and it is expanding in popularity worldwide. With the metatrader 4 platform you can trade this rapidly growing currency against the US dollar 24/7. Many traders prefer to trade bitcoin derivatives due to this asset’s highly volatile nature, which makes it ideal for CFD trading.
How to trade bitcoin cfds in 4 easy steps?
- Open a trading account with avatrade
- Fund your account
- Fill in your preferred investment amount
- BUY (go long) or SELL (go short) bitcoin
Avatrade is an industry-leading broker with some of the best crypto trading conditions available, including the lowest crypto spreads on the market.
Why trade bitcoin with avatrade?
- Uncompromised safety – with six regulatory authorities and segregated accounts, your money is protected at all times.
- Many cryptos to choose from – trade on the wide variety of cryptos available on our trading platforms.
- No hidden fees – we offer zero commissions and no bank fees on transactions!
- Bitcoin never goes to sleep – avatrade is one of the few brokers offer around-the-clock service and support in 14 languages.
- Generous trading leverage – increase your initial capital with generous leverage and get far more exposure to trade than your account balance. Up to
- Limit your risk – you can preset profit and loss levels by using stop losses or take profit limits when you trade. Determine the maximum amount you are prepared to risk when speculating on the price, or set a price at which you want to take profits. Future orders like buy stops and buy limits are also available.
- Trade cryptos against fiat currencies – unlike many exchanges out there, who are restricting their clients to trade only crypto to crypto, our clients can trade cryptos against fiat currencies (USD, EUR, JPY etc.), as well.
Bitcoin’s rise to prominence
Around 2008, satoshi nakamoto founded the first ever cryptocurrency, bitcoin. At the time, a paper explaining its mechanics and the ideology behind it, was published through the cryptography mailing list.
The first bitcoin software client was released in 2009, and nakamoto collaborated with many other developers on the open-source team, never revealing his identity. By 2011, the enigmatic bitcoin founder had disappeared. His peers then, understood how valuable this cryptocurrency was and worked feverishly to develop it to its maximum potential.
By october 2009, the world’s first bitcoin exchange was established, and by november of that year 4 million bitcoins had been ‘mined’. At the time, $1 was the equivalent of 1,309 bitcoin – a fraction of a penny. Considering how widely bitcoin fluctuates, that was a real steal: it hit the $10,000 mark within eight years.
And so, the rise of the bitcoin begun…
The maximum accumulated position size for bitcoin is 100 BTCUSD (10 LOTS), details in our trading conditions and charges page.
How bitcoin became so popular?
Bitcoin was the first digital currency to be created. It is also the most respected, capitalised and traded cryptocurrency in the world. Cryptocurrency trading allows for maximum yield when it is volatile, due to its many ups and downs. This is precisely the reason global traders enjoy bitcoin trading.
The media plays a big part in bitcoin’s volatility. Whenever a breaking story surfaces, bitcoin starts to fluctuate and traders have the opportunity to cash in. History has shown that bitcoin traders and speculators routinely push this digital currency to the forefront of CFD trading.
It is increasingly being used as the preferred payment option for merchants, money transfers and trading purposes. Bitcoin enjoys widespread popularity as a financial trading instrument, despite no association with governments or central banks.
Bitcoins are mined with powerful computer hardware and software. A maximum of 21 million bitcoin will be available, after which no further bitcoins will be produced. The algorithm which governs the production of bitcoin limits the quantity that will be produced, and the rate at which they will be produced. It is a finite commodity – there is a fixed amount, and that ensures that greater demand will always prop up the price. In this way, it is similar to other finite commodities such as crude oil, silver, or gold.
Bitcoin in the news
- November 2012 – wordpress started accepting bitcoins
- July 2013 – launching of a joint project in kenya, linking bitcoin with M-pesa, a popular east african mobile payments system.
- September 2014 – teraexchange, LLC, received approval from the U.S. Commodity futures trading commission to begin listing an over-the-counter swap product based on the price of a bitcoin, marking the first time a U.S. Regulatory agency approved a bitcoin financial product.
- March 2016 – the cabinet of japan recognised virtual currencies like bitcoin as having a function similar to real money.
- August 1, 2017 – first fork in bitcoin was created: bitcoin cash
- October 24, 2017 – the second fork in bitcoin was created: bitcoin gold
- December 10, 2017 – cboe futures exchange (CFE) starts offering bitcoin futures trading
- December 28, 2017 – third fork in bitcoin created: new coin on segwit2x chain called B2X
Need help trading bitcoin?
Avatrade offers you the opportunity to buy (go long) or sell (go short) on all bitcoin trades. This service is available to you 24/7. You can use your preferred trading strategies to buy or sell bitcoin regardless of which way the currency is moving.
We encourage you to learn more about bitcoin trading by visiting our trading conditions & charges page.
Please note: the cryptocurrencies market’s high volatility offers endless trading opportunities.
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Due to price fluctuation, certain crypto pairs may be suspended and/or removed from our trading platforms periodically.
When trading with avatrade you are trading on the price changes of the digital coin, and not physically purchasing it.
Cryptocurrency
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Crypto currency in nigeria
A cryptocurrency is a digital coin, designed to be transferred between people in virtual transactions.
Crypto currency exist only as data and not as physical objects; you cannot actually hold a bitcoin in your hand or keep ethereum in your safe.
Owning a bitcoin means you have the collective agreement of each and every computer on the bitcoin network that it is currently owned by you and – more importantly – that it was legitimately created by a miner.
Avatrade is an industry-leading broker with some of the best crypto trading conditions available, including the lowest crypto spreads on the market.
What is crypto currency mining
Cryptocurrencies are handled like cash but are mined like gold. Mining is simply the process of verifying a crypto transaction. People around the world transfer e-coins from wallet to wallet, while miners use computer-processing power to maintain the blockchain and verify these transactions.
When a new crypto is launched, its founders announce how many coins will be mined. Once the quota is reached, no further coins can be produced. The first digital coin introduced was bitcoin, which remains today the benchmark for all other digital coins. Among other currencies that have made their way into the cryptocurrency hall-of-fame we have: ethereum, ripple, litecoin, EOS, and a number of derived currencies, including bitcoin cash and bitcoin gold.
Blockchain – the technology behind crypto currency
Unlike traditional transactions, cryptocurrency transfers are not handled by banks or other financial institutions. Every time someone pays via e-coin, his payment is recorded on a digital ledger called the blockchain.
What is blockchain?
A list of transaction records, called blocks, which are linked to each other and encrypted. The blockchain is continuously growing and is completely open to anyone. Each block in the blockchain contains:
- 1. The details of the sender, receiver and amount of e-coins.
- 2. A hash, which serves as a unique fingerprint.
- 3. A hash of the previous block in the chain.
When a new block is created, it is sent to all the users in the network. Each user then verifies the block and it is added to the blockchain.
Each one of the numerous cryptocurrencies existing today has its own blockchain, and the complex math that is at the heart of the blockchain is computer generated. In order to run a transaction on the blockchain you need an e-wallet (or cryptocurrency wallet).
What is tangle
The biggest problem of the blockchain is its reliance on miners. This is exactly why the crypto currency called IOTA (the internet of thigs application) was created in 2016. IOTA also battles increasing transaction fees and network scalability. IOTA’s blockchain is called tangle. It is a blockchain with no blocks and no chains. In this system, the users themselves are responsible for validating transactions. This means there’s no need for approval from miners; so users enjoy a fee-free transaction and an increased process speed.
What is a crypto currency wallet
A piece of software or hardware that gives you the ability to store and exchange your crypto currencies. Each crypto currency wallet is encrypted and unique. When you send funds you actually broadcast an encrypted message to the recipient. Only the recipient’s crypto currency wallet can decrypt that message and thus receive the funds. A hardware crypto currency wallet is considered to have key advantages over other software wallets:
- It is immune to viruses or malware
- Its private keys are not exposed to your computer
- Does not require an import to a software
- More secure and interactive
- Uses an open source software that allows you to validate the entire device operation
- Can host multiple crypto currencies
Why trade crypto currencies with avatrade
Avatrade offers all traders the opportunity to trade a wide range of top-ranked digital coins 24/7. Due to the massive popularity of crypto currencies over the past couple of years, they have become a conventional and popular asset. The main purpose of this new technology is to allow people to buy, trade and invest without having to rely on banks or any other financial institutions.
Discover all the advantages of trading crypto currencies with avatrade:
Why trade crypto cfds with avatrade?
- Uncompromised safety– with six regulatory authorities and segregated accounts, your money is protected at all times.
- Many cryptos to choose from– trade on the wide variety of cryptos available on our trading platforms.
- No hidden fees– we offer zero commissions and no bank fees on transactions!
- Crypto never goes to sleep– avatrade is one of the few brokers offer around-the-clock service and support in 14 languages.
- Generous leverage– increase your initial capital with generous leverage and get far more exposure to trade than your account balance. Up to 2:1 (for EU residents) 25:1 (for non-EU residents).
- Limit your risk– you can preset profit and loss levels by using stop losses or take profit limits when you trade. Determine the maximum amount you are prepared to risk when speculating on the price, or set a price at which you want to take profits. Future orders like buy stops and buy limits are also available.
- Trade cryptos against fiat currencies– unlike many exchanges out there, who are restricting their clients to trade only crypto to crypto, our clients can trade cryptos against fiat currencies (USD, EUR, JPY etc.), as well.
Cryptocurrency trading at avatrade vs. Crypto exchange
| feature | avatrade | exchange |
|---|---|---|
| onboarding/registration process | traders can start to trade immediately | opening an account directly is a lengthy process |
| speed of opening a trade position | immediately | each trade is confirmed via an arbitration panel and takes up to 30 seconds |
| regulation | avatrade is regulated on 5 continents and continuously monitored | cryptocurrency exchange are not subject to regulatory authorities |
| earning potential | potentially profit even when markets are moving downward | earn only when the traded asset is on an upward trend |
| security | no risk of hacking or cryptocurrency wallet theft | high risk of hacking and cryptocurrency wallet theft |
| trade execution | immediate | clearing house required |
| liquidity | extremely liquid | liquid |
| commissions | none | mandatory |
Today’s most popular cryptocurrencies:
Here are today’s most popular cryptocurrencies:
Bitcoin, bitcoin cash and bitcoin gold
How to trade bitcoin?
This mega-powerful currency has not only opened the gate for other currencies, but also leads the cryptocurrency world with pride. It is governed to make sure no extra bitcoin is produced, as a maximum quantity of 21 million bitcoin units was agreed to. When introduced, the rate was $1 to 1,309 BTC. The wheel has turned, and when bitcoin reached the all-time high of $19,783.21 in 2017, it was certainly a meaningful milestone for satoshi nakamoto, the creator of bitcoin.
Bitcoin cash (BCH) was created by the bitcoin hard fork on august 1, 2017, resulting in a new version of the blockchain with different rules. By switching from the main bitcoin blockchain to a new version, the software now has a capacity for a larger number of transactions.
Bitcoin gold (BTG) is the second fork from bitcoin (i.E. The second version to stem from bitcoin’s source code). It retains bitcoin’s transaction history, meaning that if you owned bitcoin before the fork, you now own the equal amount of bitcoin gold. This cryptocurrency aims to introduce an alternative mining algorithm that is less susceptible to ASIC-based optimization, therefore allowing users to earn more with their computer cycles.
Alt-coins
Altcoins is the general term associated with the cryptocurrencies launched after bitcoin’s success. At first, these were mere copies mimicking the original bitcoin. Today, there are over 1,000 of these, and the list just keeps growing. Most crypto coins are launched following an ICO (initial coin offering – a form of crowdfunding) in which the developers raise cash by offering a limited number of initial coins to finance technological development. So far, besides the list below, we can find names, such as namecoin, peercoin, bytecoin, deutsche emark, novacoin, cryptogenic bullion, quark, darkcoin and mangocoinz (for smartphones).
Ethereum
Ethereum (ETH) is more than just a currency – it’s like one giant computer housing many computers around the globe. Ethereum can respond to sophisticated requests. Its ability to store revolutionary computer programs, known as smart contracts, gives ethereum an edge over bitcoin and has attracted attention from banks around the world. This, among other factors, has led to a jump of almost 10,000% in 2017!
Litecoin
Litecoin (LTC) is similar to bitcoin in many of its characteristics and is also one of the more veteran cryptocurrencies out there. However, there are two main differences between litecoin and bitcoin: speed and amount. While it takes 10 minutes to create a bitcoin block, litecoin demands roughly 2.5 minutes to create a block – meaning 4 times the speed. Moreover, litecoin attracts many users, as it can produce 4 times the quantity of bitcoin! However, as litecoin uses highly complex cryptography, often mining it is more complicated than other cryptocurrencies.
Ripple
Ripple (XRP) can be described as the next generation of payment networks. Originally set up to engage financial industry leaders, the digital currency has been a leading technology so far. This cryptocurrency exploded in 2017, going from $0.0063 to over $1.
The e-coin that is considered ethereum’s biggest competitor. The EOS blockchain gained its fame because of the way it effectively records and secures transactions. It is similar to the ethereum blockchain but faster, more scalable, and allows users to build decentralized applications more efficiently. Market analysts are promoting the currency as ‘the most powerful infrastructure for decentralized applications’ and expect the coin to be dumped and pumped, which could provide some interesting short-term opportunities.
What makes cryptos ideal for trading
Cryptocurrencies allow traders to diversify their investment portfolio, as their price is mainly determined by demand and supply; their value has a low correlation to national economies or political scenarios. Once bitcoin surpassed the price of gold in 2017, US markets introduced 2 etfs on bitcoin and drew more and more institutional money into the world of cryptocurrencies. In 2017, indian PM narendra modi has announced the gradual replacement of paper currency with electronic currency; in march 2018, the marshall islands announced that they would be introducing a cryptocurrency to replace US dollars as their main currency; other central banks are investigating the adoption of blockchain-like technologies… in short cryptocurrencies are probably here to stay. A growing number of crypto investors all over the world have already discovered the benefits:
- Cryptocurrency trading allows traders to diversify their investment portfolio, as cryptocurrency price is mainly determined by market sentiment, demand and supply
- Benefit from a wide range of today’s top traded cryptocurrencies
- E-coins offer a new form of high-volatility investment
- Cryptos are traded 24/7, even during the weekend
Open an account now and trade with the broker N°1!
Please note: the cryptocurrencies market’s high volatility may offer endless trading opportunities, but also high risk of loss.
Due to price fluctuation, certain crypto pairs may be suspended and/or removed from our trading platforms periodically.
Please see our crypto trading conditions page for available crypto currencies.
When trading with avatrade you are trading on the price changes of the digital coin, and not physically purchasing it.
How to buy ethereum in nigeria
Jay hawk
Contributor, benzinga
Want to jump straight to the answer? The best crypto platform for most people is definitely etoro.
To buy and sell ethereum’s ether (ETH) cryptocurrency in nigeria, you must go through an exchange, online broker or local broker. Once you decide to buy and sell ETH, you must first obtain a unique crypto wallet to engage in ETH transactions and to store your cryptocurrency.
Your crypto wallet address has a lot in common with an email address, except you can pay for goods and services and receive payments and gifts with your wallet address. Once downloaded, your crypto wallet can be accessed through your desktop, laptop, tablet or smart mobile device. Right now, bitcoin prevails as the best cryptocurrency due to its market recognition and high liquidity.
Nevertheless, interest in the ethereum blockchain and the ether cryptocurrency continue to grow, making it a great alternative to bitcoin for nigerians. Like with bitcoin, buying ethereum’s ether or ethereum classic (ETC) cryptocurrencies in nigeria seems relatively easy, but the broker or exchange you select matters the most.
Table of contents [ hide ]
Overview: buying ethereum in nigeria
To purchase ETH in nigeria, you must first access a cryptocurrency exchange that allows clients from nigeria to register and that offers the ETH cryptocurrency. Depending on the exchange or broker you select, buying ETH in nigeria should not be that complicated.
Keep in mind that you can choose between investing in ETH, which involves registering at an exchange and acquiring a crypto wallet or you can just buy and sell contracts for difference (cfds) on ETH.
Going the CFD route entails signing up with a cryptocurrency CFD broker such as XBT, for example, and does not require you to obtain a wallet or register with an exchange. Furthemore, nigerians should find that getting the ETH and ETC cryptocurrencies is as easy as obtaining bitcoin. You can use any of the other nigerian exchanges that support ethereum.
Also, you can open an account at an international exchange or deal with a local cryptocurrency broker. Many of the nigerian exchanges accept paper currency and allow you to buy the cryptocurrencies you want in person at their offices. You can then leave them in the exchange or transfer them to a mobile or web-based wallet.
Step 1: open an account at a cryptocurrency exchange
Nigeria offers an advantage for cryptocurrency traders in that several cryptocurrency exchanges have their base there. This makes opening an account at an exchange that much easier for nigerians. In addition to the exchanges native to nigeria, many international and semi-international exchanges accept accounts from nigeria. Below, you will find a list of exchanges that either have their base in nigeria or accept accounts from nigerians:
25 top nigerian cryptocurrency influencers 2021
In today’s post, we are going to look at the list of 25 nigerian cryptocurrency influencers.
Bitcoin is trending in nigeria today, and everyone wants to associate themselves as a crypto influencer.
But how, then, do you know the right influencers?
You don’t need to worry about that, ’cause in this post, you will get to know the profiles of authentic nigerian crypto influencer.
Let’s check this out together!
Bitcoin | crypto influencers on twitter that are nigerians
Cryptocurrencies are breaking barriers and nigerians have evolved with this trend.
In practical terms, every nigerian that is a bit enlightened about cryptocurrency appraise themselves “crypto influencer “.
But the list below contains the profiles of persons that are wholly involved in pushing cryptocurrency to a befitting place in nigeria.
This list comes in no particular order; let’s shoot off!
1. Chris ani
Chris ani is the face of cryptocurrency influencer in africa.
He emerged the winner of cryptocurrency influencer in africa for 2020, organized by binance.
He is an entrepreneur and a crypto trader, investor, and crypto-lover who believes in blockchain technology.
Chris is the founder of daba; an online educational platform and he is the author of crypto 101; a book about bitcoin for beginners.
Chris has 4,521 followers on twitter, and you can follow him here.
2. Paul ezeafulukwe
Cryptocurrency matters in nigeria, today, cannot be discussed without having paul ezeafulukwe at the forefront.
Paul is the current chairman of SIBAN (stakeholders in blockchain technology association of nigeria).
As the chairman of SIBAN, he is dedicated to fishing out every bitcoin scam plotted against bitcoin investors in nigeria.
3. Yele bademosi
Yele is the former director of binance lab; blockchain technology and a venture firm of binance.
He is the founder of bundle africa; a nigerian payment app sponsored by binance.
He is equally the founder of microtraction; an investment platform that funds startup companies in africa.
Yele has 7,628 followers on twitter...Follow him here.
4. Olaleye awe
Olaleye awe a.K.A prof. Awe is a much sought-after crypto trader and influencer that virtually shows up in every big crypto meet-up in nigeria.
He is the CEO of alpha training lab; a foremost cryptocurrency trading community in nigeria.
He has been a guest speaker in webinars held in nigeria by luno and binance.
5. Buchi okoro
Buchi okoro is the CEO of quidax, a trading and broker exchange in nigeria.
Quidax was founded in 2018 and is a major contender of luno.
Buchi has 1,271 followers on twitter, follow him here... You can also follow quidax here.
6. Timi ajiboye
Timi is a software developer and the founder of buycoinsafrica.
He is also the co-author of the little bitcoin book and co-founder of tixdotafria; a platform created for event planners to sell their event tickets.
Timi has 13,000 followers, and you can follow him here. You can also follow buycoins.Africa here.
7. Senator ihenyen
Senator ihenyen is best described as the lawyer for everything that is crypto in nigeria.
He is a tech-savvy, blockchain enthusiast who devotes his time to training lawyers on blockchain and its regulatory features.
Senator ihenyen plays the role of a legal consultant for blockchain and cryptocurrency companies including; kurecoin, paxful etc.
8. Samuel joseph D.
Samuel joseph popularly known as samstickks, has been in the cryptocurrency space for 4 years now and still counting (since 2016).
He is often described by his fans as one of the best crypto-analyst and cryptocurrency tutor.
Samstickks runs a youtube channel where he educates people about cryptocurrency.
9. Ezenwaogene ifeanyi
Ifeanyi ezenwaogene is the founder of crypto fortune; an online crypto trading masterclass in nigeria.
He is a crypto trader, blockchain enthusiast and one of the okex sales ambassadors in africa.
10. Chike okonkwo
Chike okonkwo is a blockchain enthusiast with a good knowledge on cryptocurrencies.
He is currently, the business development consultant at okex, and was the chief operator officer for bitfxt.
11. Chimezie chuta
Chimezie chuta is a certified cryptocurrency professional and blockchain solution architect.
He is the founder of blockchain nigeria user group, and the co-founder of blockvisory tech ltd.
He is also the CEO of blockspace africa technologies and the former regional director for africa at paxful.
Chimezie chuta has 2,977 followers on twitter, and you can follow him here.
12. Charles okaformbah
Charles okaformbah is a techpreneur and blockchain-solution architect.
He has a good knowledge on cryptocurrencies and smart contract technology.
Chris is the co-founder of vessel trust; a blockchain-based company nigeria.
13. Danny onyekan
Dan onyekan is one of the pioneers of bitcoin in nigeria, and he has been in the bitcoin space since 2012.
He is the founder of dan holdings; a blockchain company based in dubai.
Dan has 5,041 followers on twitter, and you can follow him here.
14. Munachi ogueke
This guy is a highly motivated bitcoin|blockchain fan.
He is the chief business officer at yellow card nigeria, and the CEO of cryst; a blockchain-based company in nigeria.
15. Obi nwosu
Obi nwosu is a britain based nigerian bitcoin expert, and the CEO of a UK based crypto exchange; coinfloor.
He is keen about bringing the benefits of bitcoin to the world in a simple and plain term.
He has 3,293 followers on twitter, and you can follow him here.
16. Toju kaka
Toju kaka is an avid bitcoin evangelizer in nigeria.
He has worked for a good number of blockchain companies including; boscore, tokenpocket and eos nation.
He is the business development manager at okex, and the author of “understanding EOS“.
17. Franklin peters
Franklin peters is an internet marketer, crypto| blockchain and ICO consultant.
He is the founder and CEO of bitfxt, a cryptocurrency exchange company for africa.
Franklin is the vice-chairman for projects, funding & strategic partnerships at SIBAN.
18. Emmanuel babalola
Emmanuel babalola is the business development manager at binance in nigeria.
He has been featured on coindesk and some other bitcoin media for his zeal in empowering and popularizing bitcoin trading in nigeria.
19. Tola joseph fadugbagbe
Tola is the founder of cryptomaster masterclass; an online cryptocurrency education platform.
He is one of the nominees for the top 6 crypto influencer in africa organized by binance.
Tola has 11,600 followers on twitter, and you can follow him here.
20. Gauis chibueze
Gauis chibueze is a bitcoin entrepreneur who started his journey in the cryptocurrency space since 2011.
He is the CEO| CMO of tatcoin|abinetwork, and he proclaims himself the bitcoinchief on twitter.
Gauis has 4,888 followers on twitter, and you can follow him here.
21. Nathaniel luz
Nathaniel luz is a self-motivated crypto influencer in nigeria who wishes to scale up the adoption of cryptocurrency in africa.
He is the team leader of dash nigeria, and the co-founder of nepsium; dash payment-gateway.
He is also the author of “digital is the cash,” a book he wrote out of his passion for cryptocurrencies.
22. Ib macdonald
Ib macdonald is the first female entrepreneur who made it to the list of crypto influencers in nigeria.
We hardly find females who are passionate about cryptocurrency in nigeria but here is a hardcore crypto trader, investor and lover.
She is the CEO of cryptoharvest; a private cryptocurrency and forex trading online class.
23. Jude umeano
Jude umeano is a crypto influencer and a bitcoin aficionado.
He is the founder of nigeriabitcoincommunity.Com and the CEO of ctmastery; an online crypto trading course.
Jude drives the adoption of cryptocurrency in nigeria, and you can subscribe to his youtube channel here.
24. Damilola odufuwa
This lady, damilola, is the head of PR for africa at binance.
She is passionate about blockchain and has 3000 followers on twitter. You can follow her here.
25. Blockchainnigeria
Blockchainnigeria is the voice of blockchain and cryptocurrecencies in nigeria.
The team behind it is responsible for planning and organizing blockchain events in africa.
Blockchainnigeria has 3,312 followers on twitter and you can click here to follow.
26. CDIN
CDIN stands for cryptography development in nigeria.
It is a non-profit professional organization founded to address the gaps in the learning and practice of cryptography in nigeria.
CDIN has 1279 followers on twitter and you can click here to follow.
27. Nigeriabitcoincommunity.Com
Yeah. You can follow us here on twitter. Nigeria bitcoin community has been in operation since 2016.
It is our mission to educates and keeps you updated on everything crypto – bitcoin, altcoins, exchanges with their reviews.
We do well to expose any fraudulent crypto projects so you would be wary of them and not fall prey to their activities.
Conclusion
Now that I have come to the concluding part of this post,
I won’t like to put an end to it without getting your opinion.
Who do you think is the most active crypto influencer in the list?
Do you think there are other nigerian crypto influencers on that I have missed out?
You can put down your thought in the comment section below.
To abet crypto evangelism and awareness…do well to share this post.
Bitcoin adoption in nigeria soars as central bank blocks remittances in naira
Peer-to-peer bitcoin (BTC) volume in nigeria continues to rise as africa’s largest economy remains a bastion for crypto adoption . According to quartz africa, data from the bitcoin P2P marketplace paxful show the country ranks second only to the united states in trading volume.
Since 2015, nigerians have traded over 60,200 BTC on the paxful platform amounting to about $566 million in volume over the period. Data from coin dance shows trading activity for the week ending dec. 12 at 886.3 million naira (about $2.3 million).
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