Best Crypto Pairs for Day Trading in Nigeria

Table of Contents

• What Makes a Crypto Pair Ideal for Day Trading?
• Top Crypto Trading Pairs for Nigerians on Obiex
• How to Use Obiex to Trade These Pairs
• Day Trading Strategies Using These Pairs
• Common Mistakes Nigerian Day Traders Make
• To Recap
• FAQs

Day trading is one of the most popular methods of trading crypto in Nigeria. Many Nigerians use crypto markets to make daily profits by buying low and selling high within short timeframes, sometimes within minutes or hours.

However, to succeed at this, selecting the right crypto pair is important. 

Not all crypto pairs are good for quick trades. Some are slow, risky, or have high trading fees. 

The best crypto pairs for day trading are those with low fees, high trading volumes, and fast price movements.

This is where Obiex stands out. 

Obiex offers popular crypto pairs like BTC/USDT and USDT/NGNX, with zero trading fees and instant swaps. It also makes crypto trading easier, faster, and more cost-effective.

In this article, we will provide you with a comprehensive list of the best crypto pairs for day trading in Nigeria and how Obiex helps you trade these pairs smartly.

Before you proceed, sign up on Obiex to effectively utilise this guide.

What Makes a Crypto Pair Ideal for Day Trading?

1. Liquidity:

Liquidity simply means how easily you can buy or sell a crypto asset without affecting its price too much. 

A pair with high liquidity, like BTC/USDT, allows you to enter and exit trades quickly, which is important for day traders who want to move fast. 

On Obiex, you can trade USDT/NGNX with low fees and high liquidity, making it easier to capitalise on short-term market movements. 

2. Tight Spreads:

The "spread" is the difference between the buy price and the sell price of a trading pair. 

Tight spreads mean there’s less gap between these prices, so you lose less money during trades. 

The top trading pairs in Nigeria, like BTC/USDT, often have tight spreads because they are heavily traded by many people. 

3. High (but Controlled) Volatility:

Volatility refers to the degree to which a cryptocurrency's price fluctuates in a short period. 

Daily crypto volatility provides day traders with opportunities to generate profits. 

However, too much volatility can be risky. 

The best crypto pairs for day trading should have enough movement to make money, but not so much that it becomes a risk. 

4. 24/7 Trading Activity:

Crypto markets never sleep. They run 24/7. However, not all pairs are active at all times. 

You want crypto pairs that stay busy with trades throughout the day. 

Popular pairs like BTC/USDT and USDT/NGNX usually have high trading activity, which is important for quick trades and fast execution. 

5. Mix of Stable and Speculative Pairs:

A good day trader balances between stable pairs like USDT/NGNX and more speculative pairs like SHIB/USDT. 

Stable pairs usually move less but offer safer trades. 

Speculative pairs can give higher profits but come with higher risk. 

A smart trader knows when to use each type depending on arbitrage, trading volume, and market news.

Top Crypto Trading Pairs for Nigerians on Obiex

1. BTC/USDT

• Volume: One of the highest traded pairs on Obiex. BTC/USDT is a very active pair globally and locally, making it perfect for frequent trades.
• Use: This is the most popular method for trading Bitcoin with Tether (USDT). It's perfect if you're tracking Bitcoin’s price movements and want to trade it quickly.
• Why It Works: Bitcoin is the most volatile and widely traded cryptocurrency. When the price moves up or down, there is usually an opportunity to profit from short-term fluctuations.
• Best For: Traders who follow market trends and want to profit from short, quick price changes. Also ideal for people who already hold USDT or BTC and want to switch between them fast.
• Obiex Advantage: Low trading fees, fast execution, instant swaps, and zero slippage in most cases.
• Cons: Prices can fluctuate rapidly, sometimes within minutes. It is also not ideal for traders who can’t handle sudden price swings.

Trade BTC/USDT on Obiex now.

2. USDT/BTC

• Volume: Similar to BTC/USDT, but usually used by traders looking to buy Bitcoin using USDT when prices drop.
• Use: It’s useful when you want to move your stable USDT into Bitcoin quickly when you see a good buying opportunity.
• Why It Works: Since USDT is stable, you can wait for BTC to dip and then buy it with USDT. It's a smart way to catch low prices without stressing about market swings.
• Best For: Cautious traders who like to stay in stablecoins and only move into BTC when the time is right.
• Obiex Advantage: Instant conversion and clear price charts all on one dashboard.
• Cons: It's still highly volatile. Requires some timing and market reading skills.

Trade USDT/BTC on Obiex now.

3. USDT/NGNX

• Volume: Very high, especially for Nigerians who cash in and out of crypto.
• Use: Perfect for converting USDT into NGNX or vice versa when needed. NGNX helps you stay close to the Naira without holding volatile assets.
• Why It Works: Allows easy entry and exit from the crypto market using local currency.
• Best For: Traders who want to take profit in Naira terms or buy crypto using their Naira wallets.
• Obiex Advantage: Low fees, simple to monitor trading volume, and convert instantly.
• Cons: Although NGNX is pegged to the Naira, its peg may not always be stable, especially during economic or regulatory changes in Nigeria.

Trade USDT/NGNX on Obiex now.

4. BTC/NGNX

• Volume: Moderate to high. Gaining popularity as more Nigerians want to buy Bitcoin directly using Naira-backed NGNX.
• Use: Lets you buy Bitcoin directly with NGNX or sell BTC into NGNX without needing to use USD or USDT first.
• Why It Works: This pair saves time and conversion fees. Instead of moving from Naira to USDT to BTC, you can just go from Naira (NGNX) to BTC and back.
• Best For: Traders who want to take quick Bitcoin positions using local currency, or cash out Bitcoin into Naira equivalents without delay.
• Obiex Advantage: Seamless integration of NGNX wallets and supports crypto arbitrage due to price differences across local platforms.
• Cons: Lower liquidity compared to BTC/USDT. Slightly wider spreads may occur at times due to lower volume.

Trade BTC/NGNX on Obiex now.

How to Use Obiex to Trade These Pairs

Trading crypto pairs for day trading in Nigeria is simple and fast on Obiex, especially if you're looking for zero-fee swaps, instant transactions, and a clean, beginner-friendly interface.

Here is a step-by-step process on how to use Obiex to trade these pairs:

Step 1. Log In or Create Your Obiex Account

Start by logging in to your Obiex account using your email and password. 

If you don’t have an account yet, click here to sign up. It takes less than 2 minutes. 

Step 2. Tap the Swap Icon

Once you’re logged in, go to the home screen of the app. 

You’ll see a Swap icon at the bottom-centre of the screen. Tap it. 

This opens the simple interface where you can instantly convert your crypto.

Step 3. Choose the Coin You Want to Swap From

In the swap interface, select the cryptocurrency you want to swap from. For example, you can pick USDT to convert to Naira, or any other pair. 

Then, enter the amount you want to trade. 

Step 4. Select the Coin You Want to Receive

Next, select the coin you want to swap to. 

If you're converting to naira, choose NGNX. 

Step 5. Get a Live Quote

Tap “Get Quote” to see the current exchange rate. 

You’ll have 10 seconds to lock in the rate before it refreshes. 

Step 6. Confirm and Swap Instantly

If you’re happy with the rate, click “Swap” to complete your transaction. 

The system will automatically process the swap within seconds. 

Day Trading Strategies Using These Pairs

1. Momentum Trading (BTC/USDT):

Momentum trading involves buying a cryptocurrency when its price is rising rapidly and selling it quickly for a profit. 

For example, BTC/USDT (Bitcoin vs. Tether) often surges in response to major news events, such as regulatory updates or Bitcoin ETF announcements. 

If Bitcoin jumps 3-5% in an hour, you could buy early and sell within minutes. On Obiex, you can use real-time charts to easily spot these trends.

2. Arbitrage (USDT/NGNX vs BTC/NGNX):

Arbitrage refers to buying cryptocurrency at a lower price on one trading pair and selling it at a higher price on another. 

For example, if 1 BTC is priced slightly lower in BTC/NGNX than in USDT/NGNX, you can buy from one pair and sell in the other for a small profit. 

Since crypto trading in Nigeria sometimes has price differences due to naira exchange rates, this is a smart way to make low-risk gains. 

3. Scalping (USDT/NGNX):

Scalping involves making small profits from numerous quick trades throughout the day. 

USDT/NGNX is ideal for this purpose because it is stable, consistently in demand, and has a high trading volume. 

You can buy USDT, wait for a small price rise, and sell it within minutes or hours. 

Even small movements of ₦50–₦100 can add up if you trade several times a day. 

4. Trend Following:

This strategy involves using tools such as Moving Averages or the Relative Strength Index (RSI) to identify when a coin is trending upward or downward in a steady manner. 

If the trend is upward, you buy; if it's downward, you avoid or sell. 

On Obiex, the interface makes it easy to watch charts and prices in real-time. 

5. Risk Management:

No matter which pair you use, always protect your money. 

Use stop-loss orders to limit how much you can lose in a bad trade. 

For example, if you're trading BTC/USDT, set a stop-loss at 2–3% below your entry point. 

Also, don’t trade all your money at once. Start with a small amount and increase only when you’re more confident. 

Obiex lets you set price alerts so you can stay informed even when you're not online. 

Common Mistakes Nigerian Day Traders Make

1. Chasing Volatile Altcoins with No Liquidity:

Some traders jump into lesser-known altcoins simply because they are trending or spiking in price. 

However, many of these coins have very low trading volumes, which means you may not be able to sell them quickly when needed. 

If you can’t exit a trade fast, you can lose money even if the price goes up briefly. 

Always check the 24-hour trading volume of any coin. 

2. Ignoring Spread and Slippage:

Spread is the difference between the buying and selling price of a crypto pair, and slippage is the price change that happens while your trade is being processed. 

Many Nigerian traders don’t consider these costs, which can eat into profits. 

A pair may look profitable on the surface, but by the time you complete the trade, the price has shifted. 

3. Not Tracking Real-Time FX Rates:

If you’re trading pairs like USDT/NGNX, not keeping an eye on the live FX rate can lead to wrong calculations and reduced profit. 

This is especially important when transferring money between exchanges or engaging in crypto arbitrage. 

Obiex provides live rates and fast updates, so always double-check before executing a trade.

4. Holding Too Long Instead of Closing Small Profits:

Many traders hold on too long, hoping for bigger profits, but prices can reverse quickly. 

It’s safer to lock in small, consistent profits than to aim for big wins and end up with losses. 

Remember, even a 1–2% profit per trade can add up over time if you manage your risk well.

5. Not Using Reliable Platforms Like Obiex:

Many Nigerian traders use platforms with high fees, slow execution, or limited pairs. This makes it harder to respond to market changes. 

Obiex offers low-fee trading, access to the best crypto pairs and strong liquidity on key pairs like BTC/USDT and USDT/NGNX. 

It’s important to use reliable tools that match your goals.

To Recap

• The top crypto trading pairs for Nigerians on Obiex are BTC/USDT, USDT/BTC, USDT/NGNX, and BTC/NGNX.
• BTC/USDT is the most popular crypto trading pair on Obiex due to its high trading volume, both globally and in Nigeria.
• It is great for quick buying and selling of Bitcoin using Tether (USDT).
• Obiex offers low fees, instant trades, and no slippage in most BTC/USDT transactions.
• USDT/BTC helps cautious traders who prefer to wait for the right moment to enter the market.USDT/NGNX is widely used in Nigeria because it is perfect for users who want to cash out to Naira or buy crypto with Naira wallets.
• BTC/NGNX eliminates the need to convert between Naira, USDT, and Bitcoin separately.
• Obiex has the tools and pairs to help you trade smarter and faster.

Trade BTC/USDT or USDT/NGNX today on Obiex. No fees, instant execution, Nigerian-friendly.

FAQs

Q1: What crypto pair is best for beginners in Nigeria?

USDT/NGNX is the easiest and safest. It’s stable and good for practice.

Q2: How much can I make day trading BTC/USDT?

It depends on market movement and your trade size. Some traders make ₦5,000 to ₦50,000 daily.

Q3: Is day trading legal in Nigeria?

Yes, it is legal. Just ensure you use reliable exchanges and follow CBN rules for crypto transfers.

Q4: Can I trade USDT/NGNX on mobile?

Yes, Obiex has a mobile app that allows you to trade USDT/NGNX easily.

Q5: How do I know the best time to trade in Nigeria?

Look for high-volume hours. Usually between 9 AM to 3 PM and 8 PM to 11 PM.

Q6: Which crypto is best for daily trading?

BTC, ETH, and USDT are the most common due to volume and stability.

Q7: Can you make $100 a day with crypto?

Yes, but it depends on your capital and strategy. Start small and grow.

Q8: Which crypto pairs are best to trade?

BTC/USDT, USDT/NGNX, and BTC/NGNX are top options on Obiex.

Q9: How to pick crypto for day trading?

Choose pairs with high volume, tight spreads, and fast movement.

Q10: Is Obiex good for crypto trading in Nigeria?

Yes, it offers zero fees, local support, and fast execution.

💡Ready to make smarter trades?

Join thousands of Nigerian traders using Obiex to swap BTC/USDT or USDT/NGNX with zero fees and lightning speed.

Disclaimer: This article was written to provide guidance and understanding. It is not an exhaustive article and should not be taken as financial advice. Obiex will not be held liable for your investment decisions.