Bitcoin has been in the news lately thanks to the recent Bull Run the number one cryptocurrency is experiencing in various markets worldwide. For a lot of people who aren’t tech inclined, the name Bitcoin is just another technology to avoid thanks to the news of various scams making the rounds in the media.
The world’s financial system has evolved from using fiat alone. Digital currencies are the future, and it’s just a matter of time before other countries in the world join the trend.
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Cryptocurrencies in Nigeria
In Nigeria, there’s a general apathy to cryptocurrencies in general due to a dearth in infrastructure, lack of IT knowledge and various other challenges that the country is facing. Nigeria majorly operates a cash-based economy, and for an emerging economy, this is not surprising.
In 2016, Nigeria entered a recession that affected virtually every sector in the economy. With the country’s GDP gradually reducing thanks to instability in oil prices, inflation and several attacks on government infrastructure, the country’s currency the “Naira”, bore the brunt of it all as it has continuously been devalued in the last 5 years.
Tech-savvy citizens in the country have turned to alternatives to secure their assets. Cryptocurrency, especially Bitcoin, has proven to be a credible alternative for them.
Although the Governor of Nigeria’s Apex Bank came out publicly to call cryptocurrency a gamble, he further went on to warn people to abstain from it. It seemed his warnings were not heeded as a lot of people consider crypto as a credible source of payment and investment.
Despite the bearish trends and price volatility crypto experienced last year, crypto adoption in Nigeria increased significantly. According to a survey carried out early this year, most Nigerians do not own cryptocurrency but are willing to buy and trade from a credible source. The question now is how to get a trustworthy source to buy and trade cryptocurrency.
Things to look out for when choosing a cryptocurrency marketplace
Most Nigerian users will be at ease if they can get a trusted source where they can buy and trade their cryptocurrencies. Before signing up to any website, there are certain things to look out for some of which are:
The security of your personal data and assets are non-negotiable. With the news of several hacks occurring on major exchanges and crypto trading companies, you have to ensure the website has top-notch security features.
Method of purchase
Whichever exchange you’re signing up for should have various methods of purchase that would be easy for you the user. This could vary depending on the exchange, in the least, they should accept debit or credit cards, bank transfer, etc. Make sure you also check the speed of the transaction if it’s instantaneous or if it would take a long time to process.
Supported tokens and coins
Almost all exchanges support both Bitcoin (BTC) and Ethereum (ETH). Do your research to see the other Altcoins they buy and trade in.
User Interface (UI) and User Experience (UX)
The user interface of the website matters a lot to new users as it should be intuitive enough with an amazing user experience to help them make navigate the site and make informed decisions.
Finding a website with the above-listed features may seem like a herculean task, but it’s not. CoinCola has all these features and more. Coincola is an exchange that is based in Hong Kong and was designed with the needs of the average Nigerian in mind.
CoinCola offers the best crypto trading experience for its users, which explains the sudden rush by a lot of Nigerians to the website.
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CoinCola has top of the line security that is regularly checked by the best security experts in the world. Their P2P marketplace is second to none as Nigerians can buy at least 7 types of crypto (Bitcoin, Bitcoin Cash, Ethereum, Dash, Litecoin, Ripple and Tether) with the Naira.
The best part is that all transactions are carried out on a person-to-person basis, and when you want to complete a transaction, it is done through a secure online escrow that protects both the buyer and the seller.
If you wish to test your trading skills, CoinCola has got you covered too. You can trade any crypto for another with ease, you can choose based cryptocurrencies that are supported and any crypto trading pair you wish to trade.
With all these wonderful features on one site, you might be scared that the fees would be extremely high. On the contrary, CoinCola’s fees are quite favorable because their aim is to see your portfolio grow rather than deplete it unlike what you have at other exchanges.
For ease of use, you can also download the CoinCola app, which is available on iOS and play store and the apps work seamlessly on all devices. To read more about the more features
CoinCola has to offer, simply click here.
Without wasting much time, your plan of joining the crypto community in Nigeria just got easier, sign up with Coincola and get rewarded with amazing freebies when upon you refer a friend.