5 Popular Cryptocurrencies in Nigeria
Nigeria is an underdeveloped country but it has acquired cryptocurrencies and other basic technology with a lot of devotion and willingness, especially the people who fall in the age group between 18 to 40. The masses are devoted to knowing more about cryptocurrency in forums including Bitcoin Talk, Quora, etc.
The majority of them seem to be knowing about Bitcoin particularly, and they are not much familiar with other potential cryptocurrencies. These people are not familiar with the ERC20 tokens and the other stable coins much and hence need to be informed for their benefit.
The WhatsApp group these people have made for trading is one of the simplest and easiest modes to exchange Bitcoin in and across Nigeria. This group functions like an escrow account, which takes a small commission on each trade that takes place in the group. These WhatsApp groups encompass 100-200 members in each.
Quick Prompt: Bitcoin/Naira is the most traded pair in Nigeria.
Now that you have got some know-how of Nigerian people and their trading interests. Let’s discover more.
5 Popular Cryptocurrencies to Invest in if you’re from Nigeria.
1. Bitcoin (BTC)
As we discussed above, Bitcoin is one of the most normally traded cryptocurrencies in Nigeria for its vogue and availability across all the exchange platforms in Nigeria. So, if you want to start trading Bitcoin in Nigeria, choose Bitqt. Bitqt is one of the best sites to trade Bitcoin in Nigeria. It helps novice traders to trade wisely. The robotics helpers are always there to guide throughout trading. So, you can always rely on it and never doubt its reliability.
2. Dash (DASH)
Dash is also a top-of-the-line investment in Nigeria, as most of the trading in Nigeria is also performed with Dash. The users are aware of its advantages and therefore hold Dash. You can exchange DASH at a very good rate employing the right platform. You might get decent offers when you purchase Bitcoin with Dash. Nigerians carry a nice proportion of Dash. For that reason, it is considered in the top 5 list of cryptocurrencies to invest in Nigeria.
3. Ethereum (ETH)
You must have heard the name of Ethereum after Bitcoin. It is the second-largest cryptocurrency around the world, always after Bitcoin. In Nigeria, Ethereum is one of the hugest traded cryptocurrencies. This crypto coin is considered to be accelerating up the decentralization in the market economy soon. For its increasing worth and improvement, crypto fanatics in Nigeria keep themselves notified with all the latest news about Ethereum.
4. Ripple (XRP)
XRP is evolving to be very popular in Nigeria as it is an inexpensive cryptocurrency, which has an elevated capability to obtain good retrievals. XRP is being built to create more liquidity around the globe. You can purchase XRP with your credit card or a debit card in Nigeria using any reliable exchange platform, following simple and easy steps, where the transaction pace is huge.
5. True USD (TUSD)
True USD is one of the fastest-growing safe coins, whose rate stays fixed and the market volatility doesn’t influence its rate. Therefore, it is one of the rarest stable and safe coins, which shows guaranteeing potential in the coming days. True USD is deemed one of the promising cryptocurrencies to invest in Nigeria, because of its quick growth and elevated adoption price.
The Bottom Line:
The best thing is no crypto enterprises have been forbidden in Nigeria, hence it’s a tremendous opportunity for the Nigerians to create trading organizations. Therefore, Nigerians must take advantage of this opportunity because the country has undeniable potential when it gets to cryptocurrencies.