Top 5 Crypto and Bitcoin Scams in Nigeria and How to Avoid Them (2025)

On the topic of crypto and Bitcoin scams in Nigeria, there is a lot to talk about. This article will look into the top 5 crypto and Bitcoin scams in Nigeria and how to avoid them.

If you’re into Bitcoin or crypto trading in Nigeria, you’ve probably heard the horror stories of people getting their crypto and Bitcoin scammed, trying to sell crypto on Telegram, or others sending Bitcoin and never getting paid.

Crypto scams are everywhere, and knowing the top 5 crypto and Bitcoin scams in Nigeria and how to avoid them is the only thing standing between you and a major financial loss.

A report by Chainalysis in 2024 ranked Nigeria 2nd in Africa for crypto-related fraud, with an estimated $59 million lost to scams annually. And many of these victims were just trying to get the best price when selling Bitcoin.

We’ve done the homework, verified the facts, and compiled the most common scams towards crypto users in Nigeria with clear, actionable ways to avoid them.

5 Crypto and Bitcoin Scams in Nigeria and How to Avoid Them

The following are the Top 5 Crypto and Bitcoin Scams in Nigeria and how to avoid them.

Telegram and WhatsApp P2P Scams
Fake Investment Platforms
Wallet Phishing Scams
Payment Reversal Scams
Fake Crypto Apps & Cloned Websites

1. Telegram and WhatsApp P2P Scams

These are the most rampant scams in Nigeria right now. Scammers impersonate “agents” or “buyers” on Telegram, WhatsApp, or Facebook groups, offering amazing rates to lure victims. Once you send them Bitcoin, they block you.

Signs to watch out for:

They use generic profile pictures and fake testimonials
They insist on chatting outside trusted platforms
They rush you with “fast rate deals”

To avoid it, only sell crypto on verified platforms with escrow or secure payment systems. Avoid peer-to-peer deals via social media. Dtunes lets you sell directly, no strangers involved.

2. Fake Investment Platforms

These scams promise a return on investment of “20% in 5 days” or “double your Bitcoin in 1 week.” They use cloned websites, influencer ads, and even fake SEC registration numbers to appear legit.

What happens:
You invest, the platform works for 1–2 weeks, then disappears. You lose both your capital and any returns.

If it sounds too good to be true, it is. Always check the company’s NairaFX license, ask for audited performance data, and use platforms like Scamadviser to verify legitimacy.

3. Wallet Phishing Scams

Scammers now send fake links via SMS or email pretending to be crypto wallets like Trust Wallet or MetaMask. When you click, it requests your seed phrase. Once you enter it, they empty your wallet.

Never share your wallet seed phrase—not even with support agents
Bookmark the real wallet sites
Use hardware wallets or apps like Dtunes that don’t require seed exposure for trading

4. Payment Reversal Scams

You sell Bitcoin to someone, and they send a fake bank alert or reverse the transaction after receiving the crypto. You lose both the coin and the naira.

Use platforms that only pay after verifying bank transfers. Dtunes ensures you get credited securely. This is why we emphasize using only trusted apps for selling Bitcoin for Naira.

5. Fake Crypto Apps & Cloned Websites

Scammers create fake versions of popular crypto apps (like Binance or Dtunes), and unsuspecting users download them. Once you log in or send crypto, they drain your funds.

Only download from the official Google Play Store or Apple App Store
Double-check the developer name and app reviews
Don’t ever search for links on Google—go straight to official sites

Best Rate Calculator to Sell Bitcoin for Naira

If you want security, speed, and great rates, skip the middlemen and scammers.

Use Dtunes rate Calculator

Verified mobile app (Google Play & App Store)
Transparent rates updated in real time
Bank payout in 5–10 minutes
No random agents. No P2P risk.

How to Sell Bitcoin on Dtunes

Download the app from Google Play or App Store.
Register or log in.
Tap “Sell Crypto” on the homepage.
Choose your crypto (Bitcoin, Ethereum, USDT).
Enter the amount you want to sell.
Instantly see the naira equivalent.
Confirm the sale.
Ensure your bank account and biometrics are set up first.
Boom—you’re paid!

You Might Also Ask…

1. How do I identify a crypto scam in Nigeria?

Check for fake rates, poor grammar, urgent language, and no traceable history. If there’s no verifiable app or license, it’s a red flag.

2. Are P2P crypto trades safe in Nigeria?

Only on verified platforms like Binance P2P or Roqqu Escrow. But even safer? Use Dtunes for direct sales with no risk.

3. Is it safe to sell Bitcoin through apps?

Yes—only if it’s a trusted platform. Dtunes provides biometric login, fast payouts, and transparency.

4. What’s the safest way to store crypto in Nigeria?

Use a hardware wallet, or mobile wallets like Trust Wallet. For trading, use secure apps like Dtunes with verified KYC.

5. How do scammers get into crypto wallets?

They use phishing links, fake websites, and fake apps to steal your password or seed phrase. Always verify the site before logging in.

TL;DR (Too Long, Didn’t Read?)- Why Though?

The Top 5 crypto and Bitcoin scams in Nigeria include Telegram P2P fraud, fake investments, wallet phishing, payment reversals, and cloned apps
Don’t fall for “too good to be true” returns
Never share your seed phrase
Avoid social media deals—use Dtunes for safe, fast crypto sales
Check out related guides like How to Send Bitcoin to Another Wallet and Bitcoin Rates Fluctuations to trade smarter

Final Thoughts

Nigeria’s crypto space is growing and so are the scams. If you’re serious about protecting your money and getting the best price when selling Bitcoin, the smartest move is to trade on platforms you can trust.

Dtunes gives you control, speed, and protection—everything these scammers can’t.

Top 5 Crypto and Bitcoin Scams in Nigeria and How to Avoid Them