Bitcoins are undoubtedly the most popular digital currency. And although people disagree on the matter, some still believe Bitcoins might overthrow regular money.
Regardless of these speculations, however, the fact is that you can earn money by investing in Bitcoins. But in order to do that, you need to carefully choose the most trusted Bitcoin investment websites for Nigerians to buy and sell Bitcoins, only in this way Bitcoins can be a safe investment.
Bitcoin is often considered as a safe asset. When the Dow Jones, Nasdaq and the major European indices stumble, Bitcoin steps in as an attractive diversifier, as it does not correlate with the stock market and is not tied to any single country’s policy decisions. That is indeed a great advantage in times of political and economic uncertainty.
Nicolas Cary says:
“Bitcoin is a convenient hedge for people who want to de-risk from traditional currencies. However, being safe from the whims of banks and governments, Bitcoin is still not totally immune from volatility.”
Speaking of it as a store of value, Bitcoin is measurably safer than it was 12 or even six months ago. However, the Bitcoin capital market is still in the early phase of development and, therefore, volatility remains a very real possibility.
Gavin Smith says:
“In terms of cryptocurrency alternatives, we believe that Bitcoin is by far the gold standard. The capital market ecosystem is the most well developed and the investment options available to Bitcoin holders are greater than any other crypto asset class.”
In terms of global assets, Bitcoin certainly has its place but this should be as part of a mixed portfolio – it’s much easier to sustain the inevitable draw-downs in the value of Bitcoin if you have also invested in other assets that may be generating positive returns.
Investing in Bitcoin can really pay off, but before you start making money, you need to make a couple of smart decisions.
- The first and one of the most important is definitely choosing the right bitcoin investment platform. There are countless sites out there that advertise as Bitcoin investment sites, but don’t really do the job.
- Secondly, a lot of people get fairly confused by the fact that you can’t find an “investment” site – they are all called exchange sites or brokerage platforms.
So if you want to learn about some of the best and most trusted websites for buying and selling bitcoins in Nigeria, simply browse through our list!
We love Bitcoin for Blockchain!
David Li from Onchain believes that there is a deeper reason behind Bitcoin’s success, which is far from the geopolitical and economic implications of recent global events.
“There is an undeniable and irreversible trend: the research and application of Bitcoin’s underlying technology. Mainstream can no longer belittle Bitcoin’s greatness since they will be joining us in following this trend, exemplified by numerous reports of central banks’ interests in digitized fiat and private sector investment on Blockchains.”
Indeed, Blockchain technology, which powers Bitcoin and other cryptocurrencies, has come to the fore in many finance firms’ agendas because of its potential to upgrade business processes and increase their efficiency.
Operating as a distributed ledger, Blockchain allows multiple parties to store and transfer sensitive information in a space that is secure, permanent, anonymous and easily accessible.
Simplifying traditionally paper-heavy, expensive and logistically complicated processes, Blockchain technology can potentially cut costs by up to $20 bln annually by 2022, according to Santander.
Over 50 major financial institutions are nowadays involved with collaborative Blockchain startups, having begun researching the technology in-house, or having helped fund startups with products rooted in Blockchain.
Towards greater understanding of the magic of Bitcoin
Bitcoin, as well as its core technology Blockchain, have been getting more coverage and media exposure this year. More and more people get inspired by the idea of having a more inclusive and borderless currency.
No doubts, there is still a lot to be done on this path, but educating and socializing Bitcoin will certainly help this insufficiently understood innovation enter the public consciousness. The fact that Bitcoin has been operating for seven years now without errors or being hacked can certainly solidify trust in Bitcoin as well.
Erik Vollstädt says:
“It has proven not to be a Ponzi scheme and to be able to work on its initial volatility problems. We are seeing organic growth now compared to the bubbles of 2012.”
Most Trusted Bitcoin Investment Websites for Nigerians 2019
This is one of the best sites available, especially because it makes trading extremely straightforward.
With Coinbase, you can do everything that can be done with Bitcoins. It is primarily a site that allows you to buy and sell units from and to other Bitcoin users with a very high level of security. It also allows you to pay for goods and services with a couple of clicks. Since it is arguably the safest platform, we have placed it at the very top of our list. And if you get familiar enough with the platform, you will find it fairly easy to make a profit.
It gives its users the opportunity to benefit from the ‘dollar cost averaging’ method. This means you can set it to buy bitcoins automatically on a weekly or monthly basis. But apart from that, it’s one of the safest sites as well.
Every transaction is monitored and whenever a suspicious activity occurs, there’s an investigation into the matter. And the company reserves the right to close the account once they prove it’s been abused.
- really safe
- easy and intuitive interface
- best website for newbies
- $10 free in Bitcoins when you buy $100
New CoinBase Account, get $10 free »
This platform isn’t exactly an exchange, which means it’s different from Coinbase.
It’s a site where individuals meet to buy and sell their bitcoins. It has a page for each country that supports the currency, as well as a list of both buyers and sellers.
When it comes to safety, LocalBitcoins is a terrific site. This is mostly thanks to its built-in escrow system that protects individuals from scammers. Basically, this means the seller’s assets are kept in a safe place until they get a payment confirmation from the buyer.
Apart from allowing you to buy and sell your units, it offers a unique layout that helps you navigate the digital currency world with greater ease. For instance, you can get info on sellers’ locations both within and outside your country, and do it all at a glance. If you are a beginner and still need to learn, you might want to start by signing up on Local Bitcoins.
- one of the safest platform out there
- not properly a bitcoin exchange
Kraken was one of the first sites that passed an independent audit. And they’ve been growing ever since, which means they now have a significant number of users. The platform itself is completely focused on trading in bitcoins.
One of the reasons why it’s so popular is the fact that it’s among the simplest when it comes to the setup process. If you don’t know how to do 2FA or 2-factor authentication, it might be best to start with Kraken. Otherwise you’re risking losing all your assets.
It is an exchange platform that can be used by both individuals and businesses. Just like Coinbase, they boast a great level of security. The engine itself is fast enough to service a huge number of people simultaneously, so you don’t need to worry about it slowing you down. And it has been rated as one of the best sites for Bitcoin investment.
- really simple to use
Open account with Kraken »
This platform was the first operator to get a license for dealing in bitcoins. They recently celebrated their fifth anniversary, and are currently one of the most popular sites available.
The biggest advantage to using BitStamp is the fact that it supports both credit and debit cards. With it, you can also turn your bitcoin units into a proportionate amount of gold. It’s the only platform that offers these kinds of deals. Just like Coinbase, this is an extremely safe site, since all transactions are monitored.
- very safe
- possible to buy Bitcoins using both debit and credit card
- the oldest exchange still on the market
Open account with BitStamp
Binance is a good choice for altcoin traders, the low fees are a great chance of a profit and the mobile apps allow to trade on the go (essential for daily trading). It is still a fair alternative for other users, but there are better, more stable options out there. Binance recently lunched binance coin on its main chain.
Their coding-from-scratch approach seems to be causing a couple of headaches, and their customer support is not efficient enough to sort things out. Advanced traders, looking for a solid company, will definitively find their place anywhere else.
- Anonymous accounts with a generous limit (2 BTC).
- Low fees.
- More than 80 altcoins accepted and tradeable.
- Stable mobile apps.
- Buggy platform.
- No support for fiat.
- Slow customer support.
Bittrex is one of the most prominent crypto currency exchanges at the moment. It is relatively new on the market, yet currently holds a place as of one of the largest multi-altcoin cryptocurrency exchange. In June of 2017, $156,110,157 was the Overall daily volume which at that time made Bittrex a top10 exchange by volume. Due to some other popular altcoin brokers coming up in the meantime the conditions changed, so they had to give away big chunks of the market share.
- fast signup and verification
- better support and security than most
- great platform if you are doing arbitrage
- unlike others, it has 1 minute charts available
- unlike others, there’s rarely any interruption of the actual service
- No margin trading
- No stop loss order
- Liquidity is sometimes way below average, sometimes you can get execution after waiting for over 10 minutes