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One major challenge Nigerians face is being able to buy or sell cryptocurrencies of their choice.
So far only bitcoin and ethreum who have wallets that accepts the local currency (naira) constitute the vast majority of all trades in the West African giant .
This could be attributed to the fact that there has been no suitable exchange platform that accepts the local currency or whose exchange rate are considerate.
Though popular exchanges like Bittrex are being used by some, others are having serious issues signing up for these exchanges. The most recurring issue is that of identification verification.
Other exchanges like binance are being dreaded because if their fees and minimum withdrawal limit which is a lot for the average Nigerian.
Currently, I'm using an exchange called cryptopia. And by all indications, it is by far better than most exchanges ( based on the Nigerian market ).
So this is a plea to everyone, maybe there is a better exchange am not aware of but there has to be a better solution .
This is so reduce the amount of money Nigerians spend on fees while trading.
Pls forward your suggestions
I'm sort of new to the whole cryptocurrency stuff. I have a bitcoin wallet with Paxful, are they good? If not could you please recommend a better one and also one for etherium
It actually depends on which country you reside in. If you're in Nigeria, Luno will be the best for ethreum
Do you actually realize that steemstem is for only stem related posts,
S- science
T- technology
E- engineering
M- mathematics
You could get flagged for posting topics not related to any of the above.
Umm. The post was focused on cryptocurrencies. Doesn't that fall under technology??
Nice writeup
For me. I am into binance and cryptopia.
The exchange i do is on a telegram group where i send the coin and the person pays me in naira.