5 Most Traded Cryptocurrencies in Nigeria

Cryptocurrency has become immensely popular in Nigeria, which has recently flourished into the second biggest market for Bitcoin in the world.

Cryptocurrency trading is facilitated by brokers who offer access to the various digital currencies on the market. AvaTrade, amongst others, has become a leader in cryptocurrency trading for traders in Nigeria. You can read the full AvaTrade review here.

In this article, we explore the 5 most traded cryptocurrencies in Nigeria.

 

1.     True USD

True USD is one of the fastest-growing secure coins on the market, with a fixed rate that is not affected by fluctuations in the market.

As a result, it is one of the most valuable and secure coins available, with strong long-term potential. Because of its rapid growth and high adoption price, investing in Nigeria’s True USD is considered to be one of the greatest options available for Nigerian traders today.

 

2.     Ripple (XRP)

XRP is becoming increasingly popular in Nigeria as a low-cost cryptocurrency with a high potential for retrieval because to its cheap transaction costs.

The XRP cryptocurrency is being developed in order to boost worldwide liquidity. With a credit or debit card, you may purchase XRP on any of the several exchange platforms in Nigeria, and the volume of transactions is vast.

This increasing market demand for XRP makes it a good addition to your crypto portfolio, as it should allow for a steady price increase that can be sold at a great profit over the mid-to-long term.

Read my post on best p2p exchanges 

3.     Ethereum

Ethereum is the second most popular cryptocurrency in the world, trailing only Bitcoin in terms of market capitalization. In Nigeria, Ethereum is a cryptocurrency that is widely traded.

As a result of the introduction of this cryptocurrency, it is envisaged that the market economy would become more decentralized.

A growing number of cryptocurrency aficionados in Nigeria are keeping up with the latest Ethereum news as the currency’s value and performance continue to increase.

 

4.     Dash

Due to the fact that Dash is used for the majority of trading in Nigeria, Dash is also an excellent investment for Nigerian crypto traders. The numerous user benefits offered by Dash have regarded in a wide market appeal throughout the country.

With a competitive broker, you can trade DASH at a very favourable rate. When you purchase Bitcoin with Dash, you may be able to receive some good deals, a there is a high level of Dash liquidity in many Nigerian crypto wallets.

 

5.     Bitcoin

With Nigeria being the second largest market in the world for Bitcoin, it is no wonder that the ground-breaking digital coin has made this list.

While the Nigerian government has placed a ban on Bitcoin’s promulgation by the central bank, the market demand for Bitcoin in that country has not been dampened. Bitcoin is in wide digital circulation and has begun to supplement many traditional financial business transactions.

As a result, the price of Bitcoin is bound to be on the rise in Nigeria, making it an excellent investment choice for Nigerian crypto traders.

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