Binance is the preferred cryptocurrency exchange in Nigeria, mainly due to its strong peer-to-peer (P2P) marketplace that supports local payment options, making it accessible for users.

Despite challenges such as regulatory disputes and lengthy verification processes, Binance continues to attract users, maintaining its market leadership position.

Competitors like Bybit and Bitget offer different features but fall short of Binance’s popularity, which is enhanced by low fees and a wide token selection.