A forex broker that accepts bitcoin deposits is an essential aspect to consider when you are considering trading. It’s far easier to get into if you already have a fiat currency and want to use cryptocurrency as a way of making speculative plays on financial markets. Which forex broker accepts Bitcoin in Nigeria? Read on to learn more!
Did you know that many forex brokers will let you use Bitcoin to fund your trading account? We have compiled a useful list of the very best Forex brokers that accept this payment method.
Contents
- 1 How Do Bitcoin Deposits Work?
- 2 What is Bitcoin and how Can It Be Useful in Trading
- 3 Comparison of the Best Forex Brokers that Accept Bitcoin Deposits in Nigeria
- 4 Best Low Deposit Bitcoin Forex Broker
- 5 Best Low-Spread Bitcoin Forex Broker
- 6 Best Bitcoin Forex Broker with no commission
- 7 Why Use Bitcoin As Your Deposit Method?
- 8 How to Choose a Forex Broker that Accepts Bitcoin in Nigeria
- 9 Summary
- 10 Best Forex Broker that Accepts Bitcoin FAQ
How Do Bitcoin Deposits Work?
Here are our top brokers for traders looking to deposit using Bitcoin.
Broker | Features | Broker Reviews | Visit |
 | * 1:1000 leverage * 210+ instruments * $15 min. deposit * CySEC licence | ||
 | * 1:1000 leverage * 1200+ instruments * $5 min. deposit * CySEC licence | ||
 | * 1:500 leverage * $100 min. deposit * CySEC licence | ||
 | * 1:3000 leverage * 550+ instruments * $100 min. deposit * SVG licence | ||
 | * 1:500 leverage * $250 min. deposit | ||
 | * 1:1000 leverage * FSA licence | ||
 | * Low deposit * CySEC licence | ||
 | * 1:1000 leverage * 950+ instruments * $250 min. deposit * CySEC licence | ||
 | * 1:500 leverage * 10,000+ instruments * $100 min. deposit * ASIC licence | ||
 | * 1:1000 leverage * 70+ instruments * $0 min. deposit * FSC licence | ||
 | * 1:500 leverage * 800+ instruments * $50 min. deposit * FSCA licence | ||
 | * 1:500 leverage * CySEC licence | ||
 | * 1:400 leverage * CMA licence | ||
 | * 1:500 leverage * 70+ instruments * $5 min. deposit | ||
 | * 1:500 leverage * 70+ instruments * $1 min. deposit * SVG licence | ||
 | * 1:500 leverage * 300+ instruments * $50 min. deposit * SVG licence | ||
 | * 1:500 leverage * $10 min. deposit | ||
 | * 1:2000 leverage * 140+ instruments * FCA licence | ||
 | * 1:500 leverage * 80+ instruments * $200 min. deposit * ASIC licence | ||
 | * 1:200 leverage | ||
 | * 1:1000 leverage | ||
 | * 1:500 leverage |
What is Bitcoin and how Can It Be Useful in Trading
Bitcoin is a digital currency that allows you to make secure payments online. It was created in 2009 by an unknown person or group of people under the name Satoshi Nakamoto. Bitcoin transactions are made with no middleman and are irreversible, meaning once you send money, it can’t be taken back.
The transactions are encrypted, which means they’re unreadable unless you use special software. This makes them very safe and secure, but also means that nobody can trace your bitcoin address.
Bitcoin is a great alternative to fiat money such as US dollars or euros. It can also be used as an investment vehicle for individuals who wish to diversify their portfolio with cryptocurrency holdings rather than stock markets or other assets like gold or real estate. Bitcoin trading offers many benefits including anonymity, low fees, and fast transactions.
Comparison of the Best Forex Brokers that Accept Bitcoin Deposits in Nigeria
Best Low Deposit Bitcoin Forex Broker
One Royal -One Royal is a UK-based broker that opened its doors in 2006. The company has been trading since the early days of bitcoin, which makes it one of the oldest brokers on the market. One Royal offers several trading options, including Forex, CFDs, and binary options. The broker’s main advantage is its low deposit fee and its special offer where you can get up to $500 in free bonuses just for signing up! Their trading platform is MT4 and they offer 1:500 leverage with unlimited trades per day. The company has over 1 million active traders worldwide and is regulated by CySEC, ASIC, and CMA.
Best Low-Spread Bitcoin Forex Broker
Euro trader– Euro Trader forex accepts Bitcoin. It offers 1:500 leverage and competitive spreads. It’s also regulated by CySEC and FCA, which means you can get started with this broker in Nigeria without any issues.
The company was founded in 2013 and it has been operating since then. It offers a range of trading platforms, including desktop, mobile, and web-based versions. Euro Trader accepts many cryptocurrencies as payment options. In addition to Bitcoin, it also supports Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Dash, and Monero.
Euro Trader is a well-known and respected BTC forex broker, which can help you make profitable trades. It offers an excellent trading platform and fast execution of orders. The deposit and withdrawal are quick and easy.
Best Bitcoin Forex Broker with no commission
Pepperstone– Pepperstone is among the best forex brokers that accept Bitcoin. The company offers 1:500 leverage, which means you can trade up to 500 times your deposit amount. Pepperstone also offers trading in 100+ instruments including commodities, indices, stocks, and cryptocurrencies. You can go long or short on oil, gold, silver, and more. There are even forex pairs for Bitcoin CFDs! The broker is regulated by CySEC (Cyprus Securities & Exchange Commission), ASIC (Australian Securities & Investment Commission), and FCA (Financial Conduct Authority). This means they are fully compliant with all relevant regulations, meaning you can trade in confidence knowing that your funds are safe.
Best Brokers For Bitcoin Deposits
As you may know, Bitcoin transactions require the use of wallets. Bitcoin owners use these wallets to transfer money to each other. Therefore, in order to fund their account, forex traders must transfer Bitcoin from their wallet to the forex broker’s wallet. In the same way, in order for brokers to process withdrawals, forex brokers must transfer Bitcoin from their wallet to the trader’s wallet.
Why Use Bitcoin As Your Deposit Method?
- Highly Secure – Bitcoin is a great option for traders who prioritise fund safety. It is one of the most secure non-fiat currency platforms. This is because all transactions go through certain confirmatory processes before approval,
- Fast Transactions – Bitcoin is also a great option for traders who want a fast, convenient payment method. Creating a Bitcoin wallet is easy. Making a Bitcoin transfer is also easy, and transactions only take a few minutes.
- Long-Term Value – Bitcoin will likely increase in value over time. That means, if you withdraw your profits in Bitcoin, then the value of your profits will likely increase over time too and you could make money from selling your Bitcoin in the future.
How to Choose a Forex Broker that Accepts Bitcoin in Nigeria
- Great Payment Options – Many brokers now offer Bitcoin as a payment method. Look for a broker that also offers other convenient payment methods including debit cards, credit cards, wire transfers, wallets, and other cryptocurrencies.
- Regulation – Payment methods aren’t the only thing that matters. A good forex broker should also be licensed by a reputable regulatory body. It should also ensure a high level of client fund protection and data security.
- Trading Conditions – A good forex broker should offer a wide range of trading instruments, including cryptocurrencies. It should also offer excellent trading conditions including high leverage, low commissions, and tight spreads.
Summary
Though cryptocurrencies are enjoying a lot of media attention nowadays, there is still plenty of confusion regarding how to get started with them and where you can spend them. We hope our Forex Brokers list for Bitcoin helps to solve that problem so you can get your hands on some virtual cash.
Deposit to your favorite Forex Broker using Bitcoin and take advantage of the many benefits this digital currency has to offer. Bitcoin offers lower fees on transactions, high security and privacy, instant international payments, and lower exposure to fraud than traditional payment systems.
Best Forex Broker that Accepts Bitcoin FAQ
Highly Secure – Bitcoin is a great option for traders who prioritize fund safety. It is one of the most secure non-fiat currency platforms. This is because all transactions go through certain confirmatory processes before approval,
Fast Transactions – Bitcoin is also a great option for traders who want a fast, convenient payment method. Creating a Bitcoin wallet is easy. Making a Bitcoin transfer is also easy, and transactions only take a few minutes.
Long-Term Value – Bitcoin will likely increase in value over time. That means, if you withdraw your profits in Bitcoin, then the value of your profits will likely increase over time too and you could make money from selling your Bitcoin in the future.
If you’re in the bitcoin market, Nigeria is a great place to be.
The African nation has a very active bitcoin community and several exchanges that are eager to get their hands on this new currency. You can buy Bitcoin in Nigeria through many different platforms.
LocalBitcoins is a peer-to-peer Bitcoin exchange where you can meet up with buyers and sellers to trade cash for Bitcoin.
You can use Luno as an alternative to LocalBitcoins if you want to buy Bitcoin using your local bank account (or credit card).
Kraken is one of the larger exchanges that allows you to trade fiat currency for crypto and vice versa, including US dollars, Euros, British pounds, and Japanese yen.
Bitpay is a bitcoin payment processor that allows you to buy and sell bitcoins. You can use their service to buy or sell bitcoins in Nigeria, and they have offices in the U.S., Europe, and Africa.
Coinbase is another option for buying bitcoins in Nigeria. They allow users to exchange fiat currency for digital currency like Bitcoin or Ethereum.
As you may know, Bitcoin transactions require the use of wallets.
Bitcoin owners use these wallets to transfer money to each other. Therefore, to fund their account, forex traders must transfer Bitcoin from their wallet to the forex broker’s wallet. In the same way, for brokers to process withdrawals, forex brokers must transfer Bitcoin from their wallet to the trader’s wallet.
If you have a Bitcoin wallet, you can deposit the currency into your account at a Forex broker.
The broker will most likely convert the currency into USD for trading purposes.
You can deposit money into your Cryptocurrency Exchange account using either direct transfer from a wallet or by using an intermediary like Skrill’s Cryptocurrency Exchange.
For more information about the best forex brokers in Nigeria, check out our forex broker reviews.