The use of USDT for crypto trading will be especially alluring to investors and traders from countries with high inflation rates, and Nigeria is one of them. The stablecoin pegged to the US dollar, has gained traction among financially savvy Nigerians who value USDT for its ability to protect their purchasing power from the depreciating Naira and to simplify cross-border transactions – just like you would use actual dollar if it were readily accessible.
All you need to do is find a trustworthy platform to convert your Naira-denominated savings into USDT. You can purchase USDT from your mobile phone using NGN through a peer-to-peer (p2p) marketplace on cryptocurrency exchanges, such as Bybit, using the familiar bank transfer method.
In this direct transaction, the buyer sends funds to the seller’s bank account, completely avoiding the delays and expenses of network fees typically incurred before trading can commence.
But what apps are the best? To aid you in this journey, we’ve curated a list of the top 5 apps that you can use to buy USDT using the trusted bank transfer method.
Best apps to buy USDT using bank transfers in Nigeria
There are several crypto apps that you can use to purchase USDT using mobile transfers from Nigeria but these are the most with the likes of:
Bybit
KuCoin
Yellow Card
Noones
Bitnob
BYBIT
Founded in 2018, Bybit stands out in the Nigerian market as a user-centric platform for purchasing USDT, offering a secure and intuitive mobile app that caters to both beginners and seasoned traders. Its interface is designed to facilitate a smooth transition from Naira to USDT, making the process accessible to anyone regardless of their trading experience.
Bybit places a strong emphasis on security, incorporating regulatory compliance measures to ensure a safe trading environment. This commitment to security, coupled with the app’s efficiency, guarantees quick and hassle-free transactions for all users.
It’s important to note that while Bybit provides an advanced trading platform, it does not support direct peer-to-peer (P2P) trading for USDT. Instead, it offers a streamlined experience within a structured exchange environment, where users can confidently trade with the assurance of Bybit’s robust security measures.
Key Features
Allows trading with a variety of payment methods.
Designed for ease of use for all levels of traders.
Offers up to 100x leverage on its perpetual contracts.
Enhanced with features like SSL, 2FA, and a bug bounty program.
KUCOIN
Since 2017, KuCoin has established itself as a trusted app for Nigerians to easily buy USDT. Renowned for its expansive selection of cryptocurrencies, KuCoin offers more than just the basics. With over 700 digital assets available, including the sought-after USDT, it caters to a diverse trading community.
The platform’s fee structure is notably competitive, starting at just 0.1%, making it an attractive option for those who prioritize cost efficiency. KuCoin’s mobile app enhances this value proposition, providing a seamless and user-friendly interface that ensures high liquidity and a multitude of trading options right at your fingertips thereby meeting the needs of both novice and seasoned traders in Nigeria.
Key Features
Access to a wide variety of digital assets.
Competitive fee structure starting at just 0.1%.
Includes P2P, margin, and futures trading.
Ensures efficient transactions with minimal slippage.
YELLOW CARD
Yellow Card presents a seamless and secure avenue for Nigerians to acquire USDT using bank transfers, a method well-entrenched in their daily financial activities. With a robust user base of over 1 million across Africa, Yellow Card’s commitment to financial inclusion is evident as it facilitates the management of digital assets through a mobile wallet, empowers users to pay bills with cryptocurrency, and even allows them to purchase airtime—all within the app.
Key Features
Quick withdrawals directly to bank accounts.
Competitive rates for buying and selling crypto.
Multi-signature wallets and robust security protocols.
NOONES
Noones provides a user-friendly solution that puts the power in your hands. Its peer-to-peer marketplace is designed for flexibility, allowing you to negotiate terms directly with sellers and choose your preferred payment method, including bank transfers. This ensures that you can find the best possible deals.
The platform also prioritizes secure transactions, featuring an escrow system that holds the seller’s USDT until you confirm successful payment via bank transfer. This eliminates risk and ensures a smooth experience. But Noones goes beyond a simple trading platform. The built-in wallet lets you store your USDT securely, and the messaging feature allows you to communicate with sellers directly during the buying process.
Key Features
Trade Bitcoin with over 250 payment options.
Simplifies the signup process without compromising security.
Secure communication channels for traders.
Provides learning materials through Noones Academy
BITNOB
Bitnob offers a straightforward experience with trading and inter-bank transfers. The app’s user-friendly interface is designed to guide users step-by-step, ensuring even those new to cryptocurrency can navigate with ease. Bitnob has implemented a multi-layered security protocol alongside two-factor authentication that instills confidence as you use bank transfers to buy USDT.
Beyond purchasing, Bitnob’s built-in wallet provides a secure place to store your USDT and it doesn’t stop there; it broadens its offerings with features that address a variety of financial needs across Africa, such as cross-border payments and virtual dollar cards. Whether you’re looking to trade, save, or spend, Bitnob caters to your financial activities with security and convenience.
Key Features
Provides opportunities to invest in Bitcoin.
Tailored for users in Nigeria, Kenya, and Uganda with local currency conversions.
Implements security measures like 2FA and passphrase.
We’ve looked at the top 5 apps for buying USDT in Nigeria with bank transfers. We carefully picked these apps based on their reputation, security measures, and user experience. Each app has its own set of features and benefits, so it’s important to consider your own needs and preferences when choosing a platform.
Here’s what to keep in mind when picking the best app for trading crypto in Nigeria:
Fees: Make sure you’re not paying too much by checking the fees of each app.
Safety: Choose apps that keep your money and information safe.
Ease of Use: Go for an app that’s easy to use and has everything you need.
Payment Methods: Make sure the app lets you pay the way you want to.
USDT is getting more popular in Nigeria, and people want easy and safe ways to get it. Even though the apps we talked about are some of the best out there, always do your homework to make sure the app fits what you need. And remember, the crypto market is highly volatile, so only use money you’re okay with risking.
