Best Cryptocurrencies to Invest in Nigeria 2023 - Naija Stick

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Best Cryptocurrencies to Invest in Nigeria 2023

Sep 13, 2023


Best Cryptocurrencies to Invest in Nigeria 2023:These are some list of Cryptocurrencies that you may apply for and gain more and more !!


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1- Bitcoin (BTC)



Bitcoin is the most well-known and widely-used cryptocurrency, with one token worth almost ₦20.2 million ($26,000). 


Given its relative stability, since launching in 2009, its market capitalisation has been more significant than all other crypto market caps combined. Case in point, its all-time-high market cap clocked in at ₦53 million ($69,000) per token. 



Furthermore, crypto trading with Bitcoin is ideal since it is more stable than other currencies, which means you can trust its track record of longevity. Apart from this, it also has the highest level of liquidity, which means it can buy and sell for profit faster and with fewer losses. 



2- Chainlink (LINK)



Chainlink enables non-blockchain enterprises to connect with blockchain platforms with one coin worth only ₦4,640 ($6). It is a decentralised oracle network that connects blockchains with off-chain data. The Chainlink oracle network distributes non-fungible tokens (NFTs) and incorporates your savings in the flow of your trades. 



3- Ethereum (ETH)



Ethereum is the second most prominent cryptocurrency after Bitcoin. One token is worth almost ₦1.3 million ($1,676). It was a project of eight partners with notable names like Microsoft and Intel at the helm. 



They designed it as a multipurpose blockchain network that connected various users. This broad network is largely why there are 120 million Ether coins in circulation, six times more than the amount of Bitcoins. In Nigeria, Ethereum remains a highly sought-after token. 



Just last year, after the crypto dip, Google searches for Ethereum in Nigeria topped global surveys. Today, Ethereum has a market value exceeding ₦154 trillion ($198 billion).



4- Ripple (XRP)



Ripple is a blockchain-based digital payment network and protocol with one coin worth ₦392 ($0.51). Its primary focus serves as a payment and remittance system. 



This system operates on an open-source and peer-to-peer decentralised platform with seamless money transfer in all its forms. You can trust Ripple’s consensus protocol since it improves the system’s integrity by preventing double-spending. For example, if you decide to send ₦77,600 ($100) multiple times, all transactions are nullified except the initial one.


5- Dogecoin (DOGE)



Dogecoin is a peer-to-peer open-source cryptocurrency considered an altcoin wherein one coin is worth ₦50 ($0.06).


It features a scrypt algorithm with a blockchain derived from Litecoin. Regardless of this token’s genesis as a “joke”, Nigeria is one of the top five countries that show enthusiasm for these crypto meme coins. 



Largely, this may be because Dogecoin is an inflationary coin. You can utilise Dogecoin with any seller who chooses to accept it.



6- Uniswap (UNI)



Uniswap is a decentralised exchange that enables peer-to-peer market-making with one coin worth ₦3,400 ($4). Its platform helps users trade crypto without the involvement of a centralised third party. Like Ripple, the Uniswap blockchain is open source and viewable to the public, meaning anyone can contribute. 



You can use Uniswap to create new markets to exchange new pairs of digital assets. Apart from this, you can also provide liquidity by staking your digital currencies on the platform, and then the UNI currency will be awarded to you.