Top 5 Ways To Buy Bitcoin In NigeriaKehinde LAWAL
Every single day, Bitcoin keeps gaining massive traction among Nigerians. Many of them now use it for various purposes like trading, investing, commerce, and cross-border payment; and as a result, it looks like our dear Bitcoin has a promising future.I repeat, the future looks bright for Bitcoin. If you think it’s just a facade, I will suggest you have a re-evaluation.
The amount of Bitcoin that Nigerians purchase to pay merchants in China is mind-blowing and if you must know, it is currently the only medium to send $1000 and above to Chinese merchants especially since our local banks barred their customers from shelling out more than $500/month as foreign payments.
If you are a newbie, and you are ready to join the Crypto Bandwagon; these are the top 5 ways to buy Bitcoin in Nigeria:
let’s dive in!
5 Ways To Buy Bitcoin in Nigeria:
1. Buy Bitcoin on LUNO
LUNO is one of the first set of mobile applications that allows Nigerians to buy and store Bitcoin easily. I can remember vividly that prior to its launching, in 2016, we had no secure method of buying, selling and storing BTC in Nigeria. But thank God, we now got LUNO which has been around for 4 years. LUNO has proved to be reliable, trustworthy and customer friendly.
If you will like to create an account with them, feel free to use my LUNO referral link and send me your wallet address or email on WhatsApp, I am willing to give you some Bitcoin for a start.
2. Buy Bitcoin on Yellowcard!
Yellowcard is a Cryptocurrency Wallet and Exchange platform similar to LUNO. They launched late 2018 and since then, I have been using their platform with no issue or cause for concern. Moreover, I love how simple their App interface is when it comes to buying and selling Bitcoin. It does not take me up to 15 minutes to fund my account, buy Bitcoin and send it to my other Bitcoin wallets. Besides, they have a cheap Bitcoin transfer fee(₦200).
Feel free to set up a Yellowcard wallet using my referral link and buy Bitcoin instantly in Nigeria. The current rate is ₦455/$ of Bitcoin.
3. Buy Bitcoin on Paxful
Paxful is another platform where Nigerians can buy and sell Bitcoin in Nigeria. It’s a peer to peer marketplace where people meet to buy and sell Bitcoin using various payment methods.
Paxful acts as an ESCROW and ensures the exchange of Bitcoin between the buyer and seller goes as smoothly as possible. They charge between 0.5%- 3% commission on each trade you place depending on your payment method (Bank transfer, Chipper Cash, PayPal, Gift card etc).
Feel free to set up your Paxful account using my referral link.
4. Buy Bitcoin on Binance
Binance offers an easy interface to buy and sell Bitcoin and other Cryptocurrencies. The platform was founded in 2018, and they’re currently the biggest Cryptocurrency exchange in the world in terms of volume and userbase.
To begin using this platform, you need to first register on the Binance App or Binance website. Next, you verify your account, fund it with Naira and start trading on Binance BTC/NGN pair.
5. Buy Bitcoin from a Local Exchanger
The last method you can use to buy Bitcoin is via a local Bitcoin Merchant/Exchange in Nigeria like Naira4dollar and Chiji14xchange. They currently buy from you at ₦400/$ and sell to you at ₦446/$.
9jacashflow also has a Digital Asset Exchange where you get to buy and sell Bitcoin and other cryptocurrencies at a very good rate.
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There are numerous ways to buy or sell Bitcoin instantly in Nigeria. However, the best platforms to securely to this are LUNO, Yellowcard, Paxful, Binance and local Bitcoin Exchangers in Nigeria(like 9jaCashFlow).
Don’t just read this article.
Get your hands dirty by registering on any of the Cryptocurrency exchange and buy your first Bitcoin.
And if you already have an account with them, feel free to share your experience so far in the comment section below.