Is Bybit Safe for Nigerians? How to Buy, Sell, Trade Crypto on Bybit Exchange in Nigeria (My Personal Setup)

Want to use Bybit in Nigeria without getting burned? This brutally honest guide reveals the pros, cons, and setup strategies for Nigerian crypto traders.

Did you know over 33 million Nigerians now trade or hold crypto?

But when I tried buying my first USDT on Bybit in 2023, I was this close to losing my money.

Hello, IbiFounder. I’m Simon Zaku, Founder, IbiFoundry LLC — and today, I want to open up about my crypto experience using Bybit in Nigeria.

I’ll tell you what worked, what nearly wrecked me, and what I now know that every Nigerian crypto user needs to hear.

So if you're worried about getting scammed, blocked, or losing money using Bybit in Naija — this guide will change the game for you.

Can you relate?

Read on.

Why You Should Trust This Blog (From Simon)

This blog was not written by some foreign crypto expert who doesn’t understand the Nigerian hustle.

I live in Nigeria.

I’ve lost money to shady P2P deals.I’ve helped over 4,000 Nigerians launch online income streams.And I trade crypto myself, with receipts.

Everything you’ll read here is based on what I’ve done, tested, or helped people like you do — in Nigeria, under real Nigerian conditions.

I’m not paid by Bybit or any exchange to hype them.

If I say something works, it’s because it worked for me or someone in our community.

Let’s move on.

Sneak Peek: Everything Covered & What You’re About to Discover

In this deep-dive guide, here’s what I’ll show you:

• Introduction (How I nearly lost money using Bybit’s P2P service in Nigeria)

• What Is Bybit Cryptocurrency? (What it means, and why it’s different from Binance)

• Can Nigerians Use Bybit? (The truth about crypto bans, KYC, and regulations in Nigeria)

• How to Use Bybit in Nigeria (My exact steps, from sign-up to successful trading)

• Buying and Selling Crypto on Bybit (How to safely move your money in and out of Bybit)

• Best Bybit Features for Nigerians (And the ones I avoid like the plague)

• Is Bybit a Good Investment Tool in Nigeria? (Let’s talk profits, risks, and regret)

• Real-Life Lessons I Learnt Using Bybit in Lagos (I expose everything no one tells you)

• The Final Verdict (Should YOU use Bybit as a Nigerian in 2025?)

This Is Where Most Nigerians Get It Wrong About Bybit…

Most people think crypto is banned in Nigeria.Or that you can’t withdraw from platforms like Bybit.

But let me ask you something:How come every Saturday, boys at the bet shop in Festac dey shout “$ to naira don go up oh!” and they still dey cash out?

Exactly.

Crypto is not banned. It’s just misunderstood.And if you learn the system, you can make Bybit your own personal dollar ATM.

Don’t worry — I’ll show you.

What Is Bybit Cryptocurrency?

Bybit is a global cryptocurrency exchange where you can trade crypto, earn passive income, and even do spot and derivatives trading.

It was launched in 2018 and currently ranks among the top 5 exchanges in the world by volume.

But here’s what sets Bybit apart for Nigerians:

It’s less saturated than Binance, supports faster transactions for newbies, and doesn’t lock your account unnecessarily if you follow the right steps.

Are you with me?

Think of Bybit as the smaller, faster, more user-friendly cousin of Binance.

But be careful — just because it's simpler doesn't mean it’s risk-free.

Can Nigerians Use Bybit?

Short answer: Yes.

Even with all the CBN wahala, Nigerians are actively using Bybit.

What you can’t do is connect a Nigerian bank card directly to deposit or withdraw.

But that’s where P2P trading comes in (I’ll explain that in a bit).

Also, as of 2025, Bybit still allows Nigerians to open accounts, verify KYC, and trade.

You just need to avoid rookie mistakes like using invalid documents or opening with suspicious IPs.

Pro tip: Use your NIN slip and utility bill for smooth KYC approval.

How to Use Bybit in Nigeria

Here’s my step-by-step process:

1. Download the Bybit App or Use the Web PlatformGo to bybit.com or download the app from Play Store.

2. Create Your AccountUse a secure email, set up 2FA immediately. Don’t use Gmail with multiple recovery links — it can trigger red flags.

3. Do Your KYCUpload your NIN or international passport, then a recent NEPA bill.

4. Fund Your Account Using P2POn the home screen, click “Buy Crypto” → Select “P2P Express” → Choose a verified seller.

5. Start TradingYou can use Spot, Convert, or Futures (only if you understand the risks).

6. Withdraw Anytime via P2PSell your USDT or BTC via P2P again, then transfer the naira to your bank.

Want to try Bybit right now? Click here to create your free account and start trading in Nigeria.

Buying and Selling Crypto on Bybit

This is where most people get confused.

Buying crypto = using naira to get USDT, BTC, or ETH.

Selling crypto = converting your coins back to naira.

Both steps happen through Bybit P2P — the platform connects you to verified buyers/sellers.

Here’s how to buy:

• Go to P2P

• Filter for “Transfer to Bank” method

• Select a trusted vendor

• Send payment (your money is held in escrow)

• Confirm and receive your coins

Here’s how to sell:

• List the USDT or crypto you want to sell

• Accept an offer

• Wait for buyer’s naira transfer

• Confirm receipt and release coins

I once used a vendor who delayed my naira for over 2 hours.

My advice? Only use vendors with green checkmarks and 90%+ completion rates.

Best Bybit Features for Nigerians

Bybit has some fantastic tools I think every Nigerian crypto user should test out:

• P2P Express (No need to negotiate. Just buy and go.)

• Crypto Convert (Swap USDT to BTC or ETH in one click)

• Earn Hub (Stake crypto and earn interest while sleeping)

• Copy Trading (Follow experienced traders. Good for beginners)

But here’s what I avoid:

• Leveraged Futures Trading (This one dey ruin lives. Be very careful!)

• Unverified P2P Offers (Na scam magnet.)

Want to learn more about staking crypto safely? Read our full guide to passive income for Nigerians.

Is Bybit a Good Investment Tool in Nigeria?

That depends on how you use it.

For me, Bybit works better as a money movement and growth tool, not a “get-rich-quick” platform.

If you buy USDT at ₦1,200 and the rate hits ₦1,400 in 5 days, you just made money — if you timed it right.

Also, Bybit savings earns you up to 7.5% APY on some stablecoins.

So yes, it can be a smart investment tool, if you’re disciplined.

Real-Life Lessons I Learnt Using Bybit in Lagos

I once transferred USDT to a wrong wallet address by copying and pasting in a rush.

That money? Gone.

But I also made decent profit flipping coins after CBN announced a new FX policy.

So the key lesson? Know what you’re doing. Don’t rush.

And always screenshot everything — trust me, you’ll need receipts.

The Final Verdict (And Whether You Should Use Bybit as a Nigerian in 2025)

Let me not lie to you — Bybit shocked me.

From security to speed, to product features and even local support, this exchange is not playing.

I tested it myself, and I honestly didn’t expect it to be this smooth for a Nigerian user.

You can fund with Naira, trade with low fees, and withdraw easily without touching P2P wahala if you don’t want to.

And if you're a beginner, their interface no go confuse you.

Plus, their crypto learning hub and trading rewards are actually useful — not just vibes.

But no platform is perfect.

Bybit is not registered with Nigerian SEC yet, so you still need to shine your eye.

Use a strong password, 2FA, and don’t fall for fake Bybit support Telegram channels or WhatsApp scammers.

So, should you use Bybit as a Nigerian in 2025?

Yes — if you want a trusted, global exchange that works well in Nigeria and doesn’t stress you.

Just make sure you use it wisely, stay alert, and follow IbiFoundry for real-time crypto safety updates.

Because for me, I’m personally using Bybit.

And unless something changes, I’ll keep recommending it — especially for Nigerians who want more than just Binance.

Most Popular Questions and Answers on Bybit Nigeria: A Detailed Review of Bybit for Nigerian Crypto Lovers

How much is 1 USDT to naira on Bybit?

The rate of 1 USDT to naira on Bybit P2P depends on market trends, but as of early May 2025, it ranges between ₦1,200 and ₦1,350. Always check real-time P2P prices on the app before buying or selling.

Is Bybit better than Binance?

Bybit is simpler and faster for beginners, especially in Nigeria, but Binance has more features. It depends on your goals — if you want ease and speed, go with Bybit. If you want more trading tools, Binance may work better.

Can I withdraw money from Bybit in Nigeria?

Yes, Nigerians can withdraw naira using the P2P method on Bybit. You sell your crypto, receive naira in your bank account, and confirm the transaction. Just use verified vendors.

Does Bybit give free money?

Yes, sometimes. Bybit runs promotions like signup bonuses, airdrops, and referral programs. Check their Rewards Hub regularly to see available offers.

How much is $100 USDT in Nigerian naira?

As of May 2025, $100 USDT is approximately ₦125,000 to ₦135,000 on Bybit P2P. The rate changes daily, so confirm before every trade.

How can I deposit naira in Bybit as a Nigerian?

You can’t use Nigerian bank cards directly. Instead, use P2P on Bybit: find a seller, transfer naira to their bank, and receive USDT in return. Simple and secure if done right.

How much is $2000 USDT to Naira?

Currently, $2,000 USDT on Bybit is worth about ₦2.5M to ₦2.7M. Use the Bybit P2P calculator to check exact rates when trading.

What is the Bybit rate today in Nigeria?

The daily rate varies, but you can always see the current USDT/NGN rate by going to the P2P section on the Bybit app or website. It’s updated in real-time based on user trades.

How much is $500 USDT in Nigeria?

$500 USDT is typically between ₦625,000 and ₦675,000 on Bybit depending on demand and supply. Always compare vendor rates before choosing.