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.