How to Buy Bitcoin in Nigeria in 2021

Mar 9, 2021 | Bitcoin101 | 0 comments

Buying Bitcoin need not be a complicated endeavor. While the cryptocurrency has been dominating headlines with new all-time highs and widespread adoption, it too has become the most recent addition to many large corporations’ portfolios. As Bitcoin looks set to continue on its unprecedented bull run, are you looking to join the list of savvy investors incorporating the original cryptocurrency into their portfolios? Here’s all you need to know about how to buy Bitcoin in Nigeria in 2021. 

How To Buy Bitcoin Via Bank Transfer – Paxful

The best way to buy Bitcoin via bank transfer in Nigeria is through the internationally acclaimed Paxful. The reliable platform has already sold over 1,000 BTC in Nigeria and has no intention of slowing down. Paxful operates as a peer to peer network connecting buyers and sellers to the trade they’re looking for, with the currency and payment method of their choosing. In a few simple steps you will have your BTC wallet loaded up. 

Make sure that you’ve created an account and are logged into the platform. Once indicating your criteria (how you would like to pay and how much BTC you want to buy) the platform will show you all the relevant offers currently available. The offers will also indicate when the trader was last online and the positive feedback they’ve received from others (the blue number next to the trader’s name). Once you’ve found one, select the Buy option, verify how much Bitcoin you would like to buy, and carefully read through the vendors instructions (each vendor can make their own rules). When you’re ready select Buy Now and you’ll be entered into a secure chat with the seller. Once you’ve completed your end of the trade select Paid. The funds will then be released into your provided bank account. 

How To Buy Bitcoin Via Credit / Debit Card – Coindirect

Offering a secure and easy way to buy Bitcoin via credit / debit card, Coindirect was one of the first crypto exchanges to open up this service to Nigerians. The platform was launched in 2017 and has been serving customers around the world their brilliant service and low fees. With a wide range of over 40 cryptocurrencies on offer you could build up your entire portfolio with this reputable platform.

First, you’ll need to create an account on the platform. This can be done through the web interface or the Apple or Android app. Simply enter details like your name, number, address, cell phone number, country, etc and complete the registration. You will then be able to select Buy in the top menu, followed by selecting Bitcoin. From here you will be asked to indicate how much BTC you are looking to buy, enter your credit / debit card details and confirm the order. Once the transaction has been executed the Bitcoin will appear in your Coindirect wallet. 

How To Buy Bitcoin With A Local Payment Processor – LocalBitcoins

If you’re looking to buy Bitcoin with a local payment processor like Chipper Cash, you need look no further than the trusted LocalBitcoins. The peer to peer trading platform has won the world over with their highly efficient and secure crypto exchange platform. Trading as Satoshi Nakamoto intended, this peer to peer exchange helps connect buyers with sellers in their local currency. The platform also makes use of escrow services, ensuring that the funds are released when payment has been made, protecting the integrity of all parties involved. 

Finding sellers looking for Niara is simple and uncomplicated with this straightforward process. On the home page select Nigeria and from the payment options select Chipper Cash. You can enter the amount of BTC you’re looking to buy or go straight through to the buy orders. All the options will be presented to you including the trader’s details (like how many trades they have completed and the amount of time they take to respond), the price, and the amount available. Once you’ve found an offer you’d like to buy, select Buy and read the instructions from the seller on the next page. If you haven’t done so already you will need to sign up to complete the trade. 

Once you’re in and have indicated how much you would like to buy, open the trade. You will be provided with a payment window indicating the amount of time you have to make the payment. Once you initiate this the seller’s BTC is put into escrow and released once the funds have been received. Once you’ve paid select the “I have paid” button. Once the seller has confirmed they have received payment the Bitcoin is released from escrow and deposited into your LocalBitcoin wallet. 

How to Buy Bitcoin in Nigeria in 2021

Bitcoin was designed to include the banked and unbanked nations of the world into one universal monetary system, so buying Bitcoin wherever you are in the world should be no tough process. Now that you’ve learnt how to buy Bitcoin in Nigeria in 2021 you should have no problem building your crypto portfolio and becoming the savvy investor of your dreams. Make sure to stay informed with our Bitcoin 101 section covering anything and everything you might like to know about the original cryptocurrency.

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