Top 5 high utility apps used for daily crypto transactions in Nigeria

According to Chainalysis Nigeria received over $50 billion worth of Cryptocurrencies from July 2022 to June 2023 the highest in Sub-Saharan Africa at the time of study.

Earlier this year, Binance revealed that it recorded a $21.6 billion transaction volume in Nigeria in 2023.

The company disputed the figures by the Central Bank of Nigeria which claimed the crypto exchange made $26 billion from Nigeria in 2023.

The high transaction volume which runs into Billions of dollars reveals the level of crypto transactions going on in the Nigerian crypto space.

Despite mixed signals coming from Nigerian authorities, The crypto industry has continued to thrive in Nigeria as most Nigerians use crypto tokens to mitigate the effect of the devaluation of the nation’s local currency.

Nigerians use a range of apps and resources for their daily transactions. In this Naijaonpoint article, we will be highlighting the Top crypto apps used by Nigerians based on their Utility and ratings.

Binance is the largest crypto exchange in the world and by far the most popular in Nigeria.

Binance delisted its Naira P2P feature following its dispute with Nigerian authorities but the platform has remained relevant in the Nigerian space due to its many other uses.

The platform can also be used to trade cryptocurrencies of all sorts.

Bybit is the second-most popular crypto exchange in Nigeria which gained an advantage after Binance delisted its P2P feature.

Bybit is quite popular in Nigeria but suffers a slightly bad reputation due to the high level of complaints coming from its P2P section.

Koyn is the leading go-to app for converting USDT and other top crypto tokens to Naira instantly. USDT is a high-traffic crypto token in Nigeria as many Nigerians use it to hedge against inflation.

Therefore, there is high demand for the conversion of USDT to Naira daily by most Nigerians. Koyn facilitates that transaction using its rate calculator which is consistent with the market rate. Other crypto assets like Bitcoin can be sold or converted on the app too.

The App is quite popular with a 4.2 rating and 1000 votes on Google Play Store.

Dexscreener is popular amongst a distinct section of the Nigerian crypto space. The app is used mostly by Crypto traders and investors for technical analysis and real-time updates on potential 10X tokens.

Dexscreener is popular amongst a distinct section of the Nigerian crypto space. The app is used mostly by Crypto traders and investors for technical analysis and real-time updates on potential 10X tokens.

The app tracks real-time data from tokens on Decentralized exchanges and arranges them in their order of potential.

The DexScreener app is popular in Nigeria for memecoin trading which is one of the activities Nigerians like to engage in. The next 100X token could be any of the many tokens that pop up on the screen when you

In the Absence of Binance Naira P2P which was heavily used by Nigerians. Some P2P platforms are springing up to feel the void created by Binance’s departure.

Nigerians engage in P2P trading daily and platforms like Local traders facilitate a huge percentage of such trades.