Top 10 Alternatives to Bitpapa for Selling Bitcoin in Nigeria – 2024

Recent news indicates that Bitpapa is bidding farewell to its Bitcoin marketplace, following the removal of ETH wallets from its platform just a month ago. The co-founder and CEO, Ray Youseff, revealed this surprising development in a blog post earlier this week, citing significant staff departures and regulatory hurdles as contributing factors. Bitpapa becomes the latest casualty of regulatory challenges in the US.

However, there might be more to the story. During a Twitter Space session on April 4th, 2024, Youseff hinted at additional reasons behind Bitpapa’s marketplace shutdown, including a lawsuit. Allegedly, a former co-founder filed legal action against Youseff and the company, adding a dramatic twist to the crypto world’s narrative.

While the drama unfolds, Bitpapa encourages users to withdraw their funds, assuring that the Bitpapa wallet remains operational for this purpose, albeit uncertain about its future.

But fear not, fellow crypto enthusiasts! With Bitpapa exiting the scene, numerous alternative platforms await exploration in the blockchain universe.

Here are the top ten alternatives for selling Bitcoin in Nigeria:

  1. Breet – Tailored for the African market, Breet offers hassle-free OTC crypto trading, allowing Bitcoin sales with direct withdrawal to local bank accounts at no extra cost. Ideal for users seeking instant cash equivalents for their crypto assets.
  2. Binance – Renowned for its user-friendly interface, Binance provides a versatile platform for both novice and experienced traders to engage in Bitcoin and cryptocurrency trading. Supported payment methods include bank transfers, credit/debit cards, and cash deposits.
  3. LocalBitcoins – Functioning as a digital marketplace, LocalBitcoins facilitates direct peer-to-peer Bitcoin transactions, enabling users to negotiate prices without intermediary exchanges. Various payment options, including bank transfers and cash deposits, enhance flexibility.
  4. CoinCola – Specializing in OTC trading, CoinCola boasts a sophisticated platform supporting multiple payment methods such as bank transfers, mobile money, and gift cards. Besides Bitcoin, it offers a diverse range of cryptocurrencies for trading.
  5. Remitano – With its user-friendly P2P exchange, Remitano simplifies buy Bitcoin instantly trading for both new and experienced users. Various payment options and a robust dispute resolution system enhance security and convenience.
  6. Luno – Offering a comprehensive platform, Luno facilitates Bitcoin sales through multiple payment methods, including bank transfers and credit/debit cards. Its educational portal is invaluable for beginners seeking to expand their crypto knowledge.
  7. NairaEx – Designed for Nigerian users, NairaEx specializes in Bitcoin and cryptocurrency trading, offering a user-friendly interface and various payment methods tailored to local needs.
  8. Quidax – A Nigerian-based exchange, Quidax provides a modern platform for buying and selling cryptocurrencies, emphasizing security and reliability. Paymentoptionsincludebanktransfersandcardpayments.
  9. BuyCoins – Featuring a user-friendly interface, BuyCoins offers a convenient platform for buying and selling Bitcoin and other cryptocurrencies, catering to the Nigerian market’s needs.
  10. Yellow Card – A reliable option for Nigerians, Yellow Card facilitates Bitcoin trading with Naira through various payment methods, including mobile money and cash deposits.

While Bitpapa’s exit may evoke disappointment, these alternatives offer diverse features and services to meet your Bitcoin trading needs in Nigeria. Whether you’re a seasoned trader or a newcomer, conducting thorough research and selecting the right exchange is crucial for a smooth trading experience.