NairaEx Blog Providing latest news and announcements related to the NairaEx website as well as the general cryptocurrency in Nigeria.

Myths and Truths With NairaEx


NairaEx has been protecting and growing the wealth of Nigerians and other global citizens since its inception in 2015. Over the years, the cryptocurrency exchange has experienced exponential increases in its user base as word spreads of its money-saving services. As an exchange of cryptocurrency, NairaEx has helped to reduce the costs of making international transfers. Yet, despite its continued commitment to providing a significantly cheaper alternative to traditional methods of international transfers, NairaEx like other unicorns has experienced a round of Myths spread about it.

Myth #1: Only Local Residents Can Use NairaEx

According to unfounded Myths, only local residents can freely use NairaEx. Unfortunately, some are of the mistaken belief that you have to make an effort to open a Nigerian bank account and that you will have difficulties opening a bank account to facilitate transactions with NairaEx.

NairaEx prides itself on guaranteeing its customers’ speed, security, and access. Globally, our staff is united in serving your every need. We want to make sure that you know that you are our number 1 priority. Thus, we ensure that we make it as easy as possible for you to make transactions with us, whether you are located in Nigeria or located abroad, we have got your back. You are guaranteed A1 customer service with us, no matter where you are located in the world. We will serve you, even if you do not have a Nigerian bank account. You have our word.

If you do have a Nigerian bank account, you will be treated with the utmost care and respect like you have always been treated. With NairaEx, you are guaranteed the best services, with no exceptions.

Myth #2: Cryptocurrency Exchanges are Unsafe

Many financial firms have experienced lapses in security, sometimes due to no fault of their own and other times due to negligence. NairaEx makes a name for itself as one of the safest cryptocurrency exchanges, taking extra steps to ensure the safety of its platform is up to global standards.

With the recent large collection of leaked data from finance sites, it starts to become clear who really takes security seriously. Unlike many other financial institutions and banks, NairaEx has implemented security features to ensure that you can sleep safely knowing you will wake up to your digital assets as you expect. Its new password checker notifies users if they have a password that has been compromised in a data breach. Hackers can take advantage of password reuse by automating login attempts on your account using breached emails and password pairs. NairaEx protects its customers, staying ahead of the game with internal and external controls that ensure the safety of its customers.

Myth #3: The Referral Programme is Not Profitable

Due to easily avoidable misunderstanding, some have been wrongly led to believe that the site’s referral programme is a downside rather than an advantage. They think that there are too many restrictions to generate revenue. This could not be farther from the truth.

You won’t find many other sites that offer competitive rewards for referral like NairaEx. Once you share your referral code, you can easily earn a commission for each of your referrals’ trades. Does it sound too good to be true? Why don’t you try it now;`0

Truth #: NairaEx is Among Exchanges With the Largest Transaction Volumes

NairaEx has one of the largest volumes of cryptocurrency exchanges on the face of the African continent. There are several reasons for this. One of the reasons lies in the fact that the cryptocurrency exchange has one of the largest user bases in the African continent. Since its inception, its user base has grown by over 1000%, with adoption rates leapfrogging every day.

Truth #2: Still the Number 1 Bitcoin Exchange in Nigeria

The Nigerian-based exchange is still king of the African crypto sphere. It has over 100 thousand customers and has facilitated nearly 1 million transactions. NairaEx has brought crypto to Africa.  Now, it exchanges more cryptocurrencies than ever, with a greater feel for the pulse of decentralised finance in Africa.

Truth #3: NairaEx has High-Grade Cryptocurrency Wallets

NairaEx sticks to global best practices when choosing its wallets and transaction protocols. Its internal structure is designed in a way that minimizes the risks of cyber security breaches. Its users are empowered to send Bitcoin with full confidence that every penny will be sent and received. The NairaEx way is the only way.

Myths are nothing new. The best and the worst experience myths. It’s all a part of the game- especially in an industry that is growing at rapid rates, never seen before. According to statistics, the global cryptocurrency market will display a robust growth CAGR(Compound Annual Growth Rate) of over 11.9% . Consequently, there is a lot of noise but also a lot of truth. NairaEx stands for the truth- NairaEx stands on a solid foundation.

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By NairaEx
NairaEx Blog Providing latest news and announcements related to the NairaEx website as well as the general cryptocurrency in Nigeria.