NairaEx Review (2021) – The Future of International trading in Nigeria

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NairaEx – The Future of International trading in Nigeria

NairaEx is a Nigerian Cryptocurrency Exchange that permits users to trade BTC and perfect money with the Nigerian currency at reasonable market exchange rates. Since its inception year, the company has handled more than 900 thousand transactions, with over 130 thousand users. The simple verification system sets it aside from other BTC exchanges. NairaEx is among the fastest progressing start-ups in Nigeria’s BTC ecosystem.

With a zealous aim to offer Nigerians healthy and stable access to BTC wealth, NairaEx has become one of Nigeria’s most marketable BTC brokers exchanges. The cryptocurrency platform is a free choice among bitcoin enthusiasts who specialize in digital assets. NairaEx utilizes a single pricing system and intuitive navigation that boosts Nigeria’s monetary system today.

How to transact on NairaEx 

NairaEx Exchange lets users buy any of the supported digital currencies – Litecoin (LTC), Ether (ETH), Bitcoin Cash (BCH), Bitcoin (BTC), and perfect money with the Nigerian currency. The exchange has a minimum transaction outset of ten thousand naira. Therefore, if you choose to purchase bitcoin lower than this threshold rate, you should opt for other Nigerian exchanges.

Users need to open an account on NairaEx exchange to buy or sell electronic currency. Also, complete account verification is required.  To purchase digital currencies on NairaEx, create an account or sign in to your existing account, select “New order” on the exchange website, enter the bitcoin amount you want in BTC or Naira and tap “Next”, enter your BTC address, choose a payment method, and select “Complete order”, then view your order summary before confirming payment.

Likewise, to sell cryptocurrency on NairaEx, sign in or create a new account, select your Naira payment information in your dashboard under your name and input your bank details, select “New order” and fill the form displayed; choose “sell” instead of “trade”, then select your bank account and tap “Submit”. Send the bitcoin amount to the address on the confirmation page. On the site, users can accept BTC payments via the NairaEx BTC accounts directly.

Benefits of using NairaEx 

NairaEx doesn’t rely on a mobile liquidation solution or payment processor for cash transactions but subsidizes deposit fees that would amount to 2.5%. Hence, BTC purchases can be processed conveniently, seamlessly, and transparently. Here are recorded benefits NairaEx users enjoy.

  • Swift service

Users have access to instant withdrawal and funding into any Nigerian bank accounts. It takes about a minimum of four hours and a maximum of twelve hours to receive or send funds on this BTC exchange.

  • Security

Investors sold 642.65 billion Nigeria stocks in 2018 due to fears of low oil prices, political uncertainty, and weak growth. Security has remained a pending issue in the cryptocurrency world, making people doubt any BTC exchange in Nigeria. NairaEx has handled many transactions over the year and has proven to be a legit BTC exchange. There are no unknown charges; all fees are added to the exchange rate.

  • Easy to use

The company makes the network user-friendly for customers to purchase BTC instantly with the popular Nigerian payment methods. You have an option to buy and sell BTC into any of the country’s bank account. Orders can be made easily and quickly at any Bitcoin ATM in Nigeria.

  • Referral earning

The exchange has a referral program that allows users to earn a decent percentage on every linked referral trade; share your referral code.

  • Responsive customer support

All orders and transactions on this exchange are automated. It doesn’t support human intervention. But any complaints or issues are duly attended to and addressed by professional and well-trained support staff.

  • Good Market Rates

Bitcoin rates fluctuate regularly several times a day. Uniquely, the exchange rate on NairaEx is set during the transaction period. Hence, you pay for whatever you get.

Other additional service offerings include:

  • Simple payment options aside from bank transfers to purchase BTC.
  • A single pricing system; both trading fees and FX are added to the BTC price listed on NairaEx.
  • A welcoming bonus of one thousand naira for new customers.
  • The actual BTC price is always at reach.
  • A 25% commission for users on the referral program; earn a percentage for every referral trade.
  • Zero withdrawal fees into any local bank account (Nigeria).

NairaEx Review

The company was launched by Double JJ enterprises in 2015 as a welcome alternative for international money transfers. It is established in Abeokuta, Ogun state in Nigeria. As a Nigerian-based BTC exchange, Nigerians can trade cryptocurrency seamlessly with ATM or bank transfers. All withdrawals on NairaEx are cleared successfully in 24 hours with minimal issues and errors. The only fiat currency supported by the exchange is the Nigeria Naira, as it was instituted to suit its economic structure. NairaEx is a popular alternative to Paxful, Quidax, and Luno. New and experienced users enjoy a frictionless experience actively.

How NairaEx platform works

The exchange sums up the average market prices from different digital currency market exchange to the US dollars.  Afterward, it multiplies the result market price by the present exchange rate of one bitcoin to US dollars. Since the minimum threshold is set to thirty thousand naira, you can’t purchase any lower amount than the standard rate placed at the lowest minimum supply amount. 

No country can buy or sell bitcoin from the platform, as NairaEx mainly targets the Nigerian market and trades only with the country’s local currency. Also, there is a two-factor authentication on the platform for each account. The account verification must be done with any Nigerian phone numbers.

Trading fees

No trading fees are charged on the website. NairaEx earns its revenue from buying and selling digital currencies on the site; they take a specific percentage on each transaction order. Hence, this exchange is a better option than other crypto exchanges that place high crypto trading fees on withdrawals and even deposits. You can access the trending exchange rates on the site’s homepage.

NairaEx – A Convenient BTC Exchange Ecosystem 

While NairaEx provides one service option (buy or sell), it is easy, fast, and simple to use. From the website’s dashboard, you can view this service at a glance. The exchange is a reliable option that provides top-notch service to new and experienced traders via local payment methods. Over the years, the company has contributed to Nigeria’s monetary system and created a flexible ecosystem with a general interest.

NairaEx Ratings: 8/10