This post comprehensively highlights the top e-currency exchanges in Nigeria.
Cryptocurrencies are actually e-currency but they differ from an earlier generation because they are decentralized and encrypted. These are unlike the traditional digital currencies that are mostly domiciled in USD and EURO and are centralized.
Even though cryptocurrencies are hot cake now and also gives users total control, e- currencies are still in high demand.
The major e-currency providers include; Perfect Money PM, Neteller, Skrill, Paypal, WebMoney, Payeer, Payza, etc.
e-Currencies make it easy to receive and send money instantly worldwide. Its users can also buy goods from online stores, invest in financial schemes, pay for service, or enroll in courses online.
Of recent, you can even convert Perfect Money to Bitcoin.
These transactions can be done instantly and at a very low transaction fee when compared with doing a wire transfer or using Western Union which take days and high charges.
However, the major challenge with digital currencies is funding your wallet and withdrawing. i.e integration with traditional banks.
One of the fastest ways to fund or withdraw from an e-currencies wallet to a bank account is through an e-currency exchange.
Today, I will be talking about the top 10 e-currency exchanges in Nigeria.
Through these exchanges, users can buy Perfect Money(PM), Neteller, WebMoney, etc. as well as sell them and have the money in your bank account.
Some also let you convert PM to Bitcoins.
Find the list below.
Top e-Currency Exchanges in Nigeria
This table below shows the e-currencies and their supported exchanges in Nigeria.
Nigeria Gold Exchange
Nigeria Gold Exchange
Nigeria Gold Exchange
The list of exchanges is in no particular order of hierarchy. It includes:
Paybis is an advanced digital currency exchange registered under the name PayBis LTD, 35/3 Buchanan Street, Edinburgh, EH6 8RB, UK.
You can see that Paybis is not indigenous to Nigeria. It is operated from the UK and the USA. It is a top Neteller exchanger.
Users of this platform can swap amongst the supported e-currencies and cryptocurrencies.
For example, a user can exchange his Neteller for BTC, Skrill, and vice versa. You can also buy Neteller with your Master/Visa card. But you will need to buy Bitcoin first and then convert to Neteller.
All transactions take a maximum of 10 mins. If you encounter any issue, chat up the customer care via LiveChat available 24/7
Available currencies: Payeer, Skrill, Advanced Cash, Neteller, BTC, ETH, LTC, XRP, BCH,NEO, BNB, XLM, TRX
I used TruexGold first in 2017. The service was good but the platform was quite a crap then.
There was this annoying music that automatically plays when you visit the site.
However, they did a total overhaul of their site in 2018 to make it amongst the best; if not the best.
I can say that TruexGold is the most simple and organized e-currency exchange in Nigeria. About 90% of the transaction in this exchange are automated.
Right from the homepage, the user can interact with the exchange to know the available currencies and how to buy and sell them.
One of their users was quite satisfied with the service that he wrote:
16.01.2019, 11:17 AM
There is actually two exchangers in Nigeria and Africa at Large… TruexGold.com and others. I…
They are also one of the few exchanges in Nigeria that supports an instant exchange of PM to BTC and vice versa.
Communication channels available include WhatsApp, Skype, email, telegram and live chat.
Supported currencies: Perfect Money, Payeer, Advanced Cash, Binary, PlanetOfBets, Bitcoin.
InstantGold was established in November 2007. It is one of the oldest e-currency exchange in Nigeria.
By November 2020, InstantGold will be celebrating its 13 years of reputable service to Nigeria.
It has 2 offices in Nigeria; one in Lagos and the other in Port Harcourt.
My very first transaction with InstantGold was in May 2016 when I exchanged OKpay for NGN.
Instantgold no longer provides exchange services for OKpay. However, you can buy Web Money and other digital currencies on InstantGoldNg.
Supported Currencies: Perfect Money, Payeer, PayPal, and BTC.
Note: InstantGold only SELLS PayPal. This means that you can only BUY from the exchange; you cannot SELL.
Blockvila is one of my choice cryptocurrency exchange in Nigeria. It is located in Port Harcourt.
The exchange is focused not on traditional e-currencies but on cryptos.
However, to cater to the high demand of Perfect Money by its users, they included the exchange of Perfect Money.
This exchange has one of the most user-friendly platforms.
Its Live Chat is quite responsive. I have bought and sold Perfect Money, Bitcoin and Ethereum on Blockvila, therefore, I can attest to its service efficiency.
I have never been disappointed using this exchange.
Blockvila is the exchange with one of the lowest transaction fee in Nigeria.
Supported Currencies: Perfect Money (PM), BTC, ETH, LTC, XRP, ETC, DASH, EOS, ADA, TRX, BTG, BNB
This exchange is operated by Sunej Global Ventures Limited which is an ICT company registered with CAC.
Naira4dollar has been in operation since 2006 making it the oldest e-currency exchange in Nigeria. My very first BTC purchase was from this company.
Unlike other exchanges as old as Naira4dollar, it has maintained a relatively low portfolio.
Though it only supports the exchange of few e currencies, they are quite good at their job.
Supported currencies: Bitcoin(BTC), Perfect Money(PM), and Paypal.
Naira2USD is a Nigeria digital currency exchange located in the east of the Niger.
It is a great platform although I think they can do better in the design of the homepage.
However, they made up for the poor homepage design with the quality of service. I have been dealing with this exchange since early 2017. My last transaction with the exchange took only 5 mins.
Naira2USD have an active customer service to attend to any question you might have. You can reach them via LiveChat, WhatsApp, email and phone call.
Supported currencies: Neteller, PM, Paypal, Skrill, Payoneer, BTC, LTC, ETH, NEO and GAS, ADA, XRP, DASH, ZEC, BCH.
Note: Naira2USD only SELLS Payoneer. This means that you can only BUY from the exchange; you cannot SELL.
MyTopExchange (formerly Forextrading) was founded in 2012.
It is registered and located in Lagos State, Nigeria and has an easy to use interface.
MyTopExchange is a broker exchange and offers the following services – exchange, Forex account funding and training.
It has an active customer support that can be reached via email, calls, or WhatsApp.
Supported currencies: Perfect Money(PM), BTC, InstaForex, JustForex, Binary.com.
eTradeXchange is a broker exchange that has been around since 2007.
It is located in Lagos State, Nigeria and has a great UIX.
On this exchange, you can only make deposits through online transfer and cash deposit.
All questions can be sent via the Live Chat at its home page. You can also reach the team via WhatsApp.
Supported currencies: Perfect Money, AdvCash, JustForex, Deriv, BTC, LTC
ExchangeIndeed is a broker exchange that has been in existence since 2009.
It is located in Lagos State, Nigeria and allows its users to exchange.
Since its inception, ExchangeIndeed has funded and credited over one million Perfect Money accounts.
For any inquiry, you can contact the team via its Live Chat, WhatsApp, or the number listed on its site.
Supported coins: Perfect Money, Bitcoin
MonEx.ng is an exchange that was established by Praxis Media and Technology Limited. It is located in Lagos, Nigeria.
It is registered with the CAC and has a user-friendly interface.
It allows its users to buy and sell e-currencies without any hassles. Payments can be made via bank deposit and credit cards for instant transactions.
The team at MonEx.ng can be reached via an active Live Chat on the home page, Support Ticket, or through WhatsApp.
You can even put a call across with the numbers listed on the site.
Supported coins: PayPal, Neteller, Binary, and BTC
11. Instant Exchangers
InstantExchangers was founded by Olubowale Obayomi in 2010. It is located in Lagos State, Nigeria.
It provides its users with vast ways of making payments ranging from cash deposit to Western Union.
The exchange allows you to carry out up to 50$ worth of transactions without verification.
Its team can be reached through its Live Chat, the numbers listed on its home page, or by sending an email.
Supported coins: Perfect Money, PayPal, Webmoney, Payeer, AdvCash, Skrill, Skype Credits, BTC, ETH, BCH, LTC, XMR, XRP, DOGE, DASH, ZEC, ETC
12. Nigeria Gold Exchange (NGE)
NGE has been in existence since December 2009 and has reliably served thousands of clients worldwide till date.
It was founded in 2007 and has offices in Lagos and Oyo State, Nigeria.
Apart from e-currencies, the exchange has also been selling Virtual Visa Card (VCC) from the USA and Russian banks.
You can contact the team by calling the numbers listed on the site or by using the Live Chat feature.
Supported currencies: Perfect Money, WebMoney, PayPal, Skrill, Bitcoin
Note: NGE only SELLS PayPal and Skrill. This means that you can only BUY from the exchange; you cannot SELL.
TopUpGold is an e-currency exchange that is owned and managed by DecaTech Services.
It is located in Calabar, Nigeria and is duly registered with CAC with Reg No: BN2460907.
This exchange has been around since 2013 and also provide other services such as Pay4me, VCC, and VBA across the world.
Its team can be reached via a Live Chat, WhatsApp, or through calls.
Supported currencies: Payoneer, Skrill, Perfect Money, Neteller, PayPal, BTC, ETH
Note that you cannot buy PayPal from TopupGold but you can sell to them. Again, you can only sell Payoneer, Neteller, and Ethereum to the exchange; you cannot buy.
Patricia was founded in 2017 by Fejiro Hanu Agbojide.
The exchange has an office in Lagos, Nigeria but also has other branches in Ghana, the UK, and the USA.
It is a broker/P2P that provides the following services – buy/sell, wallet, and refill/top-up services.
In addition to the e-currencies supported, Patricia supports the sale of gift cards and has a debit card.
To reach the team for any inquiry, contact them via email or follow them social media(Facebook, Twitter, Instagram).
Supported coins: Perfect Money, PayPal, BTC,
iDeyPay was launched in 2016 and is located in Lagos, Nigeria.
It is a broker/P2P exchange founded by Adeolu Alatishe.
Apart from allowing users to buy/sell e-currencies, it provides a Bitcoin wallet where users can store their coins.
Still have questions? You can reach the team via its active Live Chat, WhatsApp, or by calling the number listed on the site.
Supported currencies: Perfect Money, BTC, ETH
Instantcoins is a broker exchange that was founded in 2020 by Casmir Mbah Jr.
It is located in Lagos State Nigeria and is registered with the CAC.
The exchange allows its users to make payments using either Bank Transfer, Debit/Credit Card, USSD, or QR Code.
Instantcoins team can be reached via the very active Live Chat feature on its home page, calling the team, or by submitting a Support Ticket.
Supported currencies: Perfect Money, BTC, ETH, Paxful BTC
Zcnox Exchange is owned by Zcnox Digital Marketing Co. Ltd and is registered under the CAC (RC: 1421218 ).
It has a great user interface and is located in Abuja, Nigeria.
As at the time of this post(July 2020), the exchange charges 0.5% as exchange fees.
For answers to your inquiries, contact the Zcnox team by sending them a mail or by chatting them up on WhatsApp.
Supported currencies: Perfect Money, BTC, ETH
There you have the top exchanges to buy e-currencies in Nigeria.
But which one is the best?
Find out below.
My Verdict – Which of These is the Best e-Currency Exchange?
The answer to this is relative. I say so because it all depends on what you want.
One sure thing is that they are all legit and have not been proven otherwise.
Now that we have established that they are all legit, there are some things to consider:
Is the e-currency that I want to exchange available on the platform?
An exchange like Blockvila supports only PM. So if I want to buy WebMoney, I will not go to them.
ii. Exchange Rate
The next thing to consider is the exchange rate. Some exchange rates are just too high.
The last time I sold $500 Webmoney for Naira, one exchange charges $44 in transaction fee while the other charges $15. I had to go with the one that charged $15.
Visit the exchange sites that support the currency you want to exchange, compare the prices before going ahead with the transaction.
Note: Exchange A’s fee may be higher than Exchange B’s price today but lower tomorrow. So always compare.
Finally, chat up the exchange to make sure you are at peace with them especially if it’s your first time before you proceed with the transaction.
From the above point. You can see that the best exchange is relative to the individual and the coin you want to exchange.
You can create an account with all the exchanges that support your choice of e-currencies.
That way, it will be easy for you anytime you want to transact.
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