Nigeria, as a developing nation, has seen a remarkable adoption of cryptocurrency and technology among its citizens, particularly the youth aged 18 to 40. Online forums like Quora and Bitcoin Talk reflect the growing interest and thirst for knowledge about cryptocurrencies.
The majority of Nigerians seem to have a good understanding of Bitcoin but lack knowledge about other cryptocurrencies such as ERC-20 tokens and stablecoins. It is important to teach people about these other options so they can learn more about the crypto landscape.
This article aims to provide an overview of 5 popular cryptocurrencies in Nigeria.
Top Cryptocurrencies in Nigeria
Bitcoin
Bitcoin is one of the most commonly traded cryptocurrencies in Nigeria due to its popularity and availability on all Nigerian exchange platforms. Pgoldapp is one of the top apps that can be used to trade Bitcoin in Nigeria.
Cardano
Charles Hoskinson created Cardano, a decentralized and public blockchain cryptocurrency project. Cardano aims to be the first blockchain platform to emerge from a scientific philosophy, and it employs Haskell, a programming language with safety features that allow programmers to write more secure code.
Cardano’s goal is to build a complex system that can be regulated and become an integrated part of society. The cryptocurrency wants its ecosystem to provide services like payments, banking, and asset trading on top of decentralizing information from companies or governments with data integrity issues.
Ethereum
Ethereum was created in 2013 by Vitalik Buterin. However, its value started increasing in 2016. Ethereum is one of the most popular digital currencies on the market today, with a long list of investors that includes popular companies such as Microsoft, JPMorgan, Intel, and lots more.
The cryptocurrency uses blockchain technology, which lets smart contracts work without downtime or interference from third parties. This means that you could get paid without going through any middle companies.
Dash
Dash is also one of the popular cryptocurrencies in Nigeria, as it is used for trading in the country. Its numerous benefits make it popular among users.
Users can exchange Dash at a good rate by using the right platform. You can also get a good deal when you buy Bitcoin with Dash.
Ripple
With Bitcoin and Ethereum becoming increasingly popular among Nigerians, it appears that other currencies will follow suit. Among the many potential investment options, Ripple’s XRP token is one to keep an eye on.
Ripple is one of the most popular cryptocurrencies in Nigeria for the following reasons:
- It has a low inflation rate and a set maximum of 100 billion tokens. This means that its value is likely to rise further as demand exceeds supply.
- Its transactions are very fast and cheap, so people can send money to each other quickly and easily.
Top Cryptocurrency Trading Platforms in Nigeria
Binance
Binance was launched in China in 2017. Binance has become a completely decentralized company as a result of China’s increasingly stringent anti-cryptocurrency regulations.
Binance is widely regarded as one of the best platforms for buying, selling, and trading cryptocurrencies. The exchange also provides a mobile app version for smartphone users.
Furthermore, Binance supports Naira (NGN) as a fiat currency on its mobile apps. Nigerians can use the app to trade USDT and BTC. Binance used to let users deposit and withdraw directly in naira, but the Central Bank of Nigeria’s ban on cryptocurrencies in February 2021 forced the platform to take this feature away.
Binance quickly responded by offering peer-to-peer (P2P) trading to Nigerian customers.
Coinbase
Coinbase is a cryptocurrency platform based in the United States. The platform was founded in 2012. Since then, it has built a strong reputation for being a safe and easy-to-use place to buy and sell multiple cryptocurrencies.
It has one of the most well-known mobile wallet apps in Nigeria. Ever since it was launched, more than 43 million people around the world have used the platform’s crypto wallet services to store their holdings.
Kraken
Kraken is a cryptocurrency exchange based in the United States that was founded in 2011. It has grown to become one of the largest platforms available since its inception. Nigerians can easily download and use Kraken’s mobile app to buy, sell, store, and trade cryptocurrencies.
The Kraken app’s optimized trading interface makes it easy for users to buy and sell cryptocurrencies. The app does not support a standalone crypto wallet (such as Coinbase). Also, it does not have a local presence like Binance.
However, Kraken can still be used to safely buy and sell cryptocurrencies.
Pgoldapp
Pgoldapp is a straightforward digital asset trading platform.The platform provides cryptocurrency services such as Bitcoin, USDT, and Ethereum.
The crypto trading platform, which was founded in 2020, is one of the most trusted and reliable digital asset trading companies in West Africa. Pgoldapp has High rates, and customers can sell their cryptocurrencies and get paid instantly in Naira.
Pgoldapp is available for free download on Android and iOS devices.The app gives users access to all of PGold’s premium services while they are on the go.
To protect your assets and ensure smooth transactions, the platform uses cutting-edge security measures. With a dedicated support team available 24/7, you can be confident that you will receive assistance whenever you need it. Pgoldapp also has an easy-to-use interface that allows even inexperienced users to buy, sell, and trade cryptocurrencies. https://pgoldapp.com/
Conclusion
Nigeria presents a great opportunity for entrepreneurs to delve into the world of crypto trading. The country has a lot of potential on the cryptocurrency market, which makes it a good place to invest.
However, before investing in any of the popular cryptocurrencies in Nigeria, it is important to thoroughly research the market and select a cryptocurrency in which you have a high level of confidence.
Best crypto trading platform Pgoldapp to easily buy, sell, and trade your preferred cryptocurrencies, such as Bitcoin, USDT, Ethereum, and lots more.
