How to buy and sell litecoin in Nigeria
In this article, am going to show you a step by step guide on how to buy and sell litecoin in Nigeria on two different exchanges.
These exchanges are Ngexchanger and remitano, these are two of the safest exchanges where you can buy Cryptocurrency in Nigeria.
Table of content
i. What is litecoin
ii. How to buy and sell litecoin on Ngexchanger
iii. How to buy and sell litecoin on remitano
iv. Other exchanges where you can buy and sell litecoin in Nigeria
What is litecoin
Litecoin is a Cryptocurrency that was created by “Charlie Lee”. Charlie Lee was a former Google and coinbase employee.
Seeing the rise of Bitcoin and it’s acceptance, he intended for litecoin(LTC) to be the silver to bitcoin’s gold.
By market capitalization, litecoin is the 3rd largest cryptocurrency.
In technical terms, litecoin is a peer to peer Cryptocurrency. Creation and transfer of coins is based on an open source cryptographic protocol and it is not managed by any central authority.
How to buy and sell litecoin on Ngexchanger
Ngexchanger is a port Harcourt based Nigerian company.
Ngexchanger is a subsidiary of an ICT company nyxel integrated services.
With over 2 years of experience, Ngexchanger deals on different kinds of digital currencies.
How to buy litecoin on Ngexchanger
Before you can buy litecoin on Ngexchanger, you will need to register an account. After registering an account, you will follow these steps:
1. Click on the MENU button
2. Select BUY
3. Select LITECOIN
4. Under “what currency will you pay?”, select NGN(Nigerian naira) if you are paying in naira, or select USD(Us dollars) if you want a domiciliary account.
5. Fill the rest of the form and click on “SUBMIT” button.
NOTE: You should make sure every information you entered is the correct one.
6. After this, you can then go ahead to make payment to the details provided.
7. Click on PAID after sending payment.
8. Wait for your order to be attended to.
In my experience, this shouldn’t take more than 24 hours, before your order is fufilled.
How to sell litecoin on Ngexchanger
Before you can sell litecoin on Ngexchanger, you will need to register an account. After registering an account, you can follow these steps:
1.Login to your account
2. Click on MENU
3. Select SELL
4. Select LITECOIN
5. Select NGN if you want to receive your money in naira or “USD” if you want domiciliary account.
6. Fill the rest of the form and click on “SUBMIT” button.
NOTE: Check to make sure all the information you entered is correct.
7. After this, you can then go ahead to make payment.
8. Click on PAID after sending payment.
9. Wait for your order to be attended to.
In my experience, this usually does not take more than 24 hours for your order to be attended to.
How to buy and sell litecoin on remitano
Remitano is a peer to peer marketplace for buying and selling cryptocurrency.
What this basically means is that unlike other exchanges where you buy directly from them, remitano instead provides a platform where you can buy from fellow individuals like yourself who are willing to sell their cryptoassets.
Remitano is owned and operated by Babylon solutions limited, a Seychelles based company.
Remitano holds buyers funds in escrow, then allows sellers to list their cryptoassets for sale.
Remitano has some security measure in place to protect buyers and sellers:
1. A 2 factor authentication process for initiating transactions.
2. An escrow system
3. Login protection using an email verification system.
How to buy litecoin on remitano
Before buying litecoin on remitano, you will have to register an account, if you don’t already have one.
1. You can then open a trade by selecting litecoin from the drop down button.
2. You will see a list of sellers and their rates and also their banks, you should pick Whichever one is comfortable with you.
3. When you open a trade, the specified amount of litecoin you wish to buy are transferred from the seller’s wallet and locked on remitano’s escrow service.
4. You can then send payment to the seller without being worried of not receiving litecoin.
How to sell litecoin on remitano
Before selling on remitano, you will have to register an account, if you don’t already have one.
1. You will have to post a trade, by selecting litecoin, your bank details and the rate at which you are selling.
2. When a buyer opens a trade with you, your litecoin I transferred from your wallet and held locked on remitano’s escrow service.
3. You should receive payment from the buyer. After this, your litecoin is transferred to the buyer.
NOTE: in case of issues, remitano’s support team will resolve based on evidences provided by both sides.
Other exchanges where you can buy and sell litecoin in Nigeria
Nairaex is a company based in Abeokuta, ogun state, Nigeria.
Nairaex is into buying and selling of different types of e-currencies.
Nairaex unlike remitano is a direct exchange and not peer to peer, where you can buy litecoin directly from. Nairaex is one of the most trusted local exchanges where you can buy and sell litecoin in Nigeria.
You can read my nairaex review
Instantgold is a Nigerian e-currency exchange that was established in the year 2007, they specialize in the provision of fast and efficient e-currency exchange to their clients.
You can buy litecoin directly from instantgold Nigeria at a good rate. Instantgold is a very trusted exchange in Nigeria.
You can read my instantgold review
Quidax is a Cryptocurrency exchange that was launched on August 1, 2018.
With quidax you can buy and sell litecoin, and also pay with the local currency.
I particularly like quidax as they are very fast in fufilling orders.
Read my quidax review
Buying or selling litecoin in Nigeria is very easy, and if you decide to invest in litecoin, buying from any of these exchanges should be fairly easy.
I hope you have enjoyed reading my post on how to buy and sell litecoin in Nigeria.
If you have used any of these exchanges to buy or sell litecoin before, leave your comments below. If you also have questions, leave them below and I will tend to them as soon as I get them.
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