Starting cryptocurrency trading in Nigeria involves several steps to ensure you do it safely and legally.
Before you start trading cryptocurrencies, it's essential to educate yourself about the market, various cryptocurrencies, and trading strategies.
Choose a Reliable Exchange:
Select a reputable cryptocurrency exchange that allows Nigerians to trade. Some popular exchanges that have offered services in Nigeria include Binance, Luno, Quidax, and BuyCoins.
Complete KYC Verification:
Most exchanges require users to complete a Know Your Customer (KYC) verification process.
Secure a Wallet:
While exchanges offer wallet services, it's recommended to use a secure cryptocurrency wallet to store your assets.
Fund your exchange account with Nigerian Naira (NGN) by following the deposit instructions provided by the exchange.
Familiarize yourself with the types of orders (market, limit, stop-limit, etc.) available on the exchange.