What are the trusted Nigerian owned exchanges?

[Slimzeee]

If you’ve been watching a lot of our comedy skits lately  from the likes of Sabinus, De-General, or even some influencers, then you must have seen plenty of ads for different apps and platforms to trade your Bitcoin with.
In fact, there are so many now, and one thing they all seem to say is that they are “fast and reliable.”

So my question is, which of these platforms have you actually tried or come across, and how was the experience? Because most of the top exchanges and wallets I know like Binance, Bybit, Luno, etc.  are not Nigerian-owned.
Are the Nigerian ones really fast and reliable like they claim?

This is also a way to support and patronize our own local Nigerian market.
And if you’ve had any bad experiences with some, please feel free to highlight them too, so others can be watchful.

[SatoPrincess]

I dey watch Sabinus skits but I never once pay attention to the exchanges way them dey promote. The only Nigerian owned exchange way I fit recommend na Roqqu. Their p2p dey fast and their rates dey okay.

[Josefjix]

I have been able to try out a new company like that where a newly content creator by name Joshua Bolu...is their ambassador, Assetar been the company claims to trade crypto and gift cards to Naira. I followed up their site but all the transactions was done manually on Whatsapp by the sales manager. As in, you'll be redirected from their site to the WhatsApp number for business.

Although, I don't find it safe dealing that way because most of the company are just owned by individuals operating from their rooms, no office while some are not registered.

[Word Bomb]

I dey watch Sabinus skits but I never once pay attention to the exchanges way them dey promote. The only Nigerian owned exchange way I fit recommend na Roqqu. Their p2p dey fast and their rates dey okay.

But there are many skit makers that are advertising exchanges which I have not heard about before.

I have been able to try out a new company like that where a newly content creator by name Joshua Bolu...is their ambassador, Assetar been the company claims to trade crypto and gift cards to Naira. I followed up their site but all the transactions was done manually on Whatsapp by the sales manager. As in, you'll be redirected from their site to the WhatsApp number for business.

Although, I don't find it safe dealing that way because most of the company are just owned by individuals operating from their rooms, no office while some are not registered.

I can not trade my crypto with anyone on Whatsapp, I will like to do it through the app. If the exchange does not have app or a site I will avoid it.

[Antotena]

So my question is, which of these platforms have you actually tried or come across, and how was the experience? Because most of the top exchanges and wallets I know like Binance, Bybit, Luno, etc.  are not Nigerian-owned.
Are the Nigerian ones really fast and reliable like they claim?

This is also a way to support and patronize our own local Nigerian market.
And if you’ve had any bad experiences with some, please feel free to highlight them too, so others can be watchful.

Any crypto company you see that is owned by any Nigerian person, please don't trade on them until you do your findings. Recently, the Nigerian Security exchange commission revise the process of opening exchange in Nigeria and if all of them want to follow that rules, none of them will be operating in Nigeria because the money to pay for application fee, processing free and other charges, you will be spending roughly $80k, that's a lot of money if converted to Naira, shared capital of ₦500m, that's a very huge amount of money.

If most of those companies have this amount to pay as legal fees, they will not be functioning in Nigeria unless there is backing from venture capitals and investors from outside. This condition are very bad but at the same time, it helps protect the people because how is it going to sound if everyone want to launch and exchange, it will bring alot of scams acquisition, it's not like it might, it will bring it and some people might not have any their money back.

[Gooner0]

If you’ve been watching a lot of our comedy skits lately  from the likes of Sabinus, De-General, or even some influencers, then you must have seen plenty of ads for different apps and platforms to trade your Bitcoin with.
In fact, there are so many now, and one thing they all seem to say is that they are “fast and reliable.”

So my question is, which of these platforms have you actually tried or come across, and how was the experience? Because most of the top exchanges and wallets I know like Binance, Bybit, Luno, etc.  are not Nigerian-owned.
Are the Nigerian ones really fast and reliable like they claim?

This is also a way to support and patronize our own local Nigerian market.
And if you’ve had any bad experiences with some, please feel free to highlight them too, so others can be watchful.

trusted Nigerian owned exchanges are rare if not impossible too to find.
Personally I will not use any Nigerian based exchange because I do know how difficult and unsteady the Nigerian system is and things could take a drastic change when the company refuses to adhere to some regulations.

So my question is, which of these platforms have you actually tried or come across, and how was the experience? Because most of the top exchanges and wallets I know like Binance, Bybit, Luno, etc.  are not Nigerian-owned.
Are the Nigerian ones really fast and reliable like they claim?

This is also a way to support and patronize our own local Nigerian market.
And if you’ve had any bad experiences with some, please feel free to highlight them too, so others can be watchful.

Any crypto company you see that is owned by any Nigerian person, please don't trade on them until you do your findings. Recently, the Nigerian Security exchange commission revise the process of opening exchange in Nigeria and if all of them want to follow that rules, none of them will be operating in Nigeria because the money to pay for application fee, processing free and other charges, you will be spending roughly $80k, that's a lot of money if converted to Naira, shared capital of ₦500m, that's a very huge amount of money.

If most of those companies have this amount to pay as legal fees, they will not be functioning in Nigeria unless there is backing from venture capitals and investors from outside. This condition are very bad but at the same time, it helps protect the people because how is it going to sound if everyone want to launch and exchange, it will bring alot of scams acquisition, it's not like it might, it will bring it and some people might not have any their money back.

wisely said, from this perspective people would understand why the lack of trust is there.
The Nigerian system wouldn't favor this exchanges much and as such that makes them unreliable.

[Josefjix]

...

Although, I don't find it safe dealing that way because most of the company are just owned by individuals operating from their rooms, no office while some are not registered.

I can not trade my crypto with anyone on Whatsapp, I will like to do it through the app. If the exchange does not have app or a site I will avoid it.

Exactly, I was even wondering while the CEO cannot let the developer build something that the interactions would be done on the web or through app, although such level may be too high but at least creating something looking legitimate can trigger lots of customers.

I know most of them, their mode of operation is through "chat interaction" that's why they move customers to Whatsapp. Why won't the developer streamline the conversation to be done on the web so that lots of customers can trust the system more and more, and seems easier.

[Stable090]

If you’ve been watching a lot of our comedy skits lately  from the likes of Sabinus, De-General, or even some influencers, then you must have seen plenty of ads for different apps and platforms to trade your Bitcoin with.
In fact, there are so many now, and one thing they all seem to say is that they are “fast and reliable.”

Me I just watch there skits and nothing more, I no Dey pay attention to all those things wey dem Dey promote, because I no trust all those skits makers, I no fit see anything wey dem Dey advertise I go come follow them, because I know say plenty things wey dem Dey promote na scam. All those ones wey Dey promote sites wey Dey buy bitcoin and gift cards, most of them are scammers, and you go see our skit makers Dey promote them.

All Wetin our skits makers Dey after na money, if Dey don receive their own money, nothing concern them if na scammer dem be or not, and some of them self na their friends get them, and na all those skits makers get some self, so I no Dey pay attention to their advertisement again.

Dey get one time wey Dey come Dey create coin,  Dey come Dey promote am, dem Dey use that one cash out, our skits makers na just criminals most of them be too, make we no Dey follow them blindly, if you see anything wey dem Dey promote, make sure say you do your research first before you join.


I never sabi any naija crypto exchange, so make I just continue to Dey use d ones wey I don Dey use for years and nothing do am. Most of the youth wey go talk say Dey wan create exchange like that, most of them na scammers dem be, Dey fit start am well make Dem earn people trust, but e no Dey always end well.

[Amphenomenon]

This is also a way to support and patronize our own local Nigerian market.
And if you’ve had any bad experiences with some, please feel free to highlight them too, so others can be watchful.

Is not like i don't want to patronise our local vendors but the possibility of scam is why I won't advice anyone about it, except the government do speak out on how they would go about if customers funds were being held, even if the platform move out of the country Patricia exchanges which started in Nigeria but has moved and many Nigerians are still waiting ti get access to their funds https://bitcointalk.org/index.php?topic=5454203.msg62311022#msg62311022


When it comes to financial advice those skits makers and influencers has nothing good to give except they are benefiting from it. Sometimes of these guys have promote scams or false things before, it's for us to do our own research but how things had been thus far it's better to use other trusted CEX and also don't ignore that CEX is not a good option in the first place.

[Word Bomb]

Exactly, I was even wondering while the CEO cannot let the developer build something that the interactions would be done on the web or through app, although such level may be too high but at least creating something looking legitimate can trigger lots of customers.

I know most of them, their mode of operation is through "chat interaction" that's why they move customers to Whatsapp. Why won't the developer streamline the conversation to be done on the web so that lots of customers can trust the system more and more, and seems easier.

Having a website for crypto exchange will cost them more money than WhatsApp and they may not have the money. They can avoid regulation on Whatsapp but they may not be able to avoid regulation if they have website for it, the money regulations will require them to have can be too much, I think it is over 500 million to 1 billion naira. I do not care sha I will not use them.

[Mpamaegbu]

The only Nigerian owned exchange way I fit recommend na Roqqu. Their p2p dey fast and their rates dey okay.

I hope nor be d same Roqqu wey I know, abi dem don change. Some years ago I get wan scary experience wey I get wit a buyer wey dey use Roqqu wallet. I send BTC to d buyer and instantly Roqqu remove am, making it look like sey I nor send am at all. D thing nearly cause big gbenge until escrow com trance d thing onchain and e confirmed sey I actually sent it. D buyer chatted Roqqu, dem confirm am. So Roqqu why you remove am? Their response be sey dem suspected a fraudulent activity on d wallet 😂. Since then, I nor dey take betta eye see dem.

Any crypto company you see that is owned by any Nigerian person, please don't trade on them until you do your findings.

Dat part of your advice wey I bold get as e bi. E nor too good. Na im dem dey call profiling or prejudice. D carefulness supposed be across any exchange wey just open newly, forget who own am. I nor dey send who get am but na trust score I dey like preview. If trust score assure me of minimal risk, I put head.

[Dr.Bitcoin_Strange]

In fact, there are so many now, and one thing they all seem to say is that they are “fast and reliable.”

Yes, I see so many advertisements of different Nigeria exchange on social media and the ads is from most of those content creators, all they keep saying is that they are fast and reliable but the question is, are they reputable? Can they completely comply with government policies of running the exchange and if they face any challenge from the government that may affect their business, do they assure their customers safety of their funds?

Take for example, binance exchange, the founder (CEO)  had some serious government issues with his exchange and he even went to prison and now he is not the CEO of the exchange, if such occurs with any of those comedians exchange, can the exchange survive it?

I have used Yellow card exchange and from what I learned, the exchange was founded in Nigeria.

[sokani]

I never try any Nigerian owned exchange and I nor intend to do so. The fact say awa popular influencers endorse these local exchanges no mean say dem dey legit. The influencers own nah to collect money after promotion, anything wey happen to you nor concern them. Most of them no get license and dem fit carry your money waka anytime. But if you really want to give them a try, do your own findings make you nor enter one chance.

[Baki202]

I never try any Nigerian owned exchange and I nor intend to do so. The fact say awa popular influencers endorse these local exchanges no mean say dem dey legit. The influencers own nah to collect money after promotion, anything wey happen to you nor concern them. Most of them no get license and dem fit carry your money waka anytime. But if you really want to give them a try, do your own findings make you nor enter one chance.

i no even know say naija get exchange most times i they hear this skit makers they talk about the thing for social media but i never for once think about to use am but i no sure say i go use am because i they get service wey i need from other exchanges and theyy are trust worthy so why i go waste my time go they use nigeria exchanges wey them they warn people make them no trust exchange na naija own you wan come they trust.

and we know say every exchange get there own but to some extent i still trust the onces i they use before because waiting be thing wey go make me change exchange wey i they use, and if na naija you go do finding tire because if they one run you street them go still run am and nothing go happen, and since i never use them before make i continue they use the one wey i sabi use since na the same service i they look for.

[Finebone]

So my question is, which of these platforms have you actually tried or come across, and how was the experience? Because most of the top exchanges and wallets I know like Binance, Bybit, Luno, etc.  are not Nigerian-owned.
Are the Nigerian ones really fast and reliable like they claim?

This is also a way to support and patronize our own local Nigerian market.
And if you’ve had any bad experiences with some, please feel free to highlight them too, so others can be watchful.

I no too get problem with their reliability oo, where I get problem using our local exchange is that them go easily bow to pressure from our government if them decide to know about those in the country that are into crypto or still doing crypto related transaction, but
In  the case of this foreign exchange, our government no go easily make them release customers personal information to them, them go prefer leaving the Nigerian market than to put their customers on the line, because those people they keep to privacy law more than Nigerians, so na just because of this reason I prefer using foreign exchange than Nigerian own exchange.

[Slimzeee]

I have been able to try out a new company like that where a newly content creator by name Joshua Bolu...is their ambassador, Assetar been the company claims to trade crypto and gift cards to Naira. I followed up their site but all the transactions was done manually on Whatsapp by the sales manager. As in, you'll be redirected from their site to the WhatsApp number for business.

Although, I don't find it safe dealing that way because most of the company are just owned by individuals operating from their rooms, no office while some are not registered.

Oh wow, Whatsapp transaction doesn't look or sound professional or at all. They need to invest more on branding. Most people try to build on integrity alone forgetting branding is a major part business, the difference between chicken republic and some local restaurants we patronize is not just about the taste is branding, Some local restaurants food might even be better than the chicken republic yet  we are pay higher. A reliable and secure app or website where transactions can be made would have increased the trust they get from clients.

[Hyphen(-)]

If you’ve been watching a lot of our comedy skits lately  from the likes of Sabinus, De-General, or even some influencers, then you must have seen plenty of ads for different apps and platforms to trade your Bitcoin with.
In fact, there are so many now, and one thing they all seem to say is that they are “fast and reliable.”

How long do the advert takes before it’s usually fade out?
I think these skit makers are just doing the job they are being paid for, because if you notice from their more adverts, some of them know nothing about crypto, they just make posts and always say that it is fast and reliable.

Can you imagine someone just ask you how do you make money, and you replied that you trade your crypto and giftcard with so so exchange and they are fast and reliable? How is this even informative?
You only sell or trade what you have, that is not a job, it is just a means of exchange, but many innocent people might fall for some of these exchanges and probably get scammed or get it right.

So my question is, which of these platforms have you actually tried or come across, and how was the experience? Because most of the top exchanges and wallets I know like Binance, Bybit, Luno, etc.  are not Nigerian-owned.
Are the Nigerian ones really fast and reliable like they claim?

This is also a way to support and patronize our own local Nigerian market.
And if you’ve had any bad experiences with some, please feel free to highlight them too, so others can be watchful.

I never used any of these exchanges or crypto platforms they are advertising because I don’t trust most of them.

If you want to use any of these exchanges, make sure you do your research before you started to use them because no one should be trusted in crypto space. If you find one that is reliable, you can trade with them, but for now, I prefer to keep trading with international exchanges that has already gain reputation even though they are also not to be trusted.

[Zaguru12]

The only Nigerian owned exchange way I fit recommend na Roqqu. Their p2p dey fast and their rates dey okay.

You see this Roqqu exchange personally is one of the few local exchanges that i have personally had problems with, they were usually my best easy platforms to convert my bitcoin or stable coins to fiat. Although to be sincere they weren’t having one of the best rate to me then because rates from top exchanges like binance and KuCoin then were much better than Roqqu.

Two of my worst case scenario was that I had a transaction then and wasn’t credited the Naira in my local bank I lodged complaint of the transaction before reversed to Roqqu but they had one of the worst customer care service and I had to abandon the exchange with my lost funds then. They also have deposit cap that was to high then in my perspective.

[Asiska02]

I never try any Nigerian owned exchange and I nor intend to do so. The fact say awa popular influencers endorse these local exchanges no mean say dem dey legit. The influencers own nah to collect money after promotion, anything wey happen to you nor concern them. Most of them no get license and dem fit carry your money waka anytime. But if you really want to give them a try, do your own findings make you nor enter one chance.

I have really seen a lot of exchanges been advertised by this skit makers, but I haven’t for once tried to use them or even tried to know more about them. I don’t really have much negative feelings about them because they have not really come to my mind to use as option to the ones I already owned and I’m using now. I have about five exchanges or more in my device, not actively using them all, so adding more to them just doesn’t make more sense. This does not also disregard the fact that exchanges like this may be prone to scam or bankruptcy if they did not really follow the due process of operation which makes one’s funds at risk of losing.

You are also right about your point on influencers, most of them don’t know how to even research about the virility of this platforms they advertise once they pay them the agreed price they want to advertise the platforms on their page for them. I am not having negative feelings about them as said earlier but if there is need for me to use a Nigeria owned crypto exchange, I will do my research duly well on the best one to go for. The SEC in Nigeria are becoming more active and making sure funds are safe with this exchanges we want to operate with within Nigeria. I will definitely go for exchanges that has been approved by SEC.

[Slimzeee]

I never try any Nigerian owned exchange and I nor intend to do so. The fact say awa popular influencers endorse these local exchanges no mean say dem dey legit. The influencers own nah to collect money after promotion, anything wey happen to you nor concern them. Most of them no get license and dem fit carry your money waka anytime. But if you really want to give them a try, do your own findings make you nor enter one chance.

You are also right about your point on influencers, most of them don’t know how to even research about the virility of this platforms they advertise once they pay them the agreed price they want to advertise the platforms on their page for them. I am not having negative feelings about them as said earlier but if there is need for me to use a Nigeria owned crypto exchange, I will do my research duly well on the best one to go for. The SEC in Nigeria are becoming more active and making sure funds are safe with this exchanges we want to operate with within Nigeria. I will definitely go for exchanges that has been approved by SEC.

I have also observed this as well, because in the space of about 3 month only one person advertises and endorses about 3 -  4 exchanges and it always leave me wondering; How long did this person use this platform to be sure of they are really reliable. It's now more like the only aim is selling out to the people without due diligence. Talking from what happens on CBEX and previous cases more eyes are on them so everybody will have to face the pressure.