How to buy bitcoin in Nigeria

In recent years, the interest in cryptocurrencies has surged globally, and Nigeria is no exception. As the demand for digital assets, particularly bitcoin, continues to grow, Nigerians are actively seeking reliable platforms to buy and trade these digital currencies. In this article, we will explore various aspects on how to buy bitcoin in Nigeria.

Where to buy bitcoin in Nigeria

With the increasing demand for cryptocurrencies in Nigeria, numerous crypto exchanges have started operating within the country. It’s essential to choose an exchange that not only facilitates smooth transactions but also prioritises security.

Some of the key features to consider when selecting a Nigeria crypto exchange include:

🔐 Security measures. Choose exchanges that make safety a priority. This means they implement strong security measures like Two-factor Authentication (2FA) and custodial providers to keep your information safe.

🖥️ User-friendly interface. It’s important that the platform is easy to use, especially if you’re new to cryptocurrency trading. Find exchanges that have simple interfaces and supportive customer service.

💳 Payment options. Think about using exchanges that allow you to trade directly using Nigerian Naira. This way, you can quickly top up your account balance using swift payment options like direct Visa/Mastercard deposits.

🌐 Reputation and legislation. Make sure the crypto exchange you pick is trusted and follows the rules set by the law. It should hold the relevant licences to provide financial services.

How to buy bitcoin in Nigeria: understanding the basics

To embark on your crypto journey, the first step is to understand the process of buying bitcoin. Fortunately, the process has become more accessible and user-friendly over the years. Below, you can find 5 steps for buying bitcoin in Nigeria and how to do this.

🤝 Choose a reliable cryptocurrency exchange. Start by selecting a reputable crypto platform. Ensure that it supports bitcoin and offers a straightforward onboarding process. For instance, there are a few advantages of using the EXMO.com crypto exchange:

• Up and running since 2014, EXMO.com is one of the established and reputable cryptocurrency exchanges in the market, ranked among the top 40 platforms on CoinGecko.
• Top-tier fund protection — EXMO.com uses top-class custodial providers like Fireblocks and Ledger to secure your funds.
• Multiple deposit options — easily top up your balance via Visa/Mastercard or bank transfer and buy crypto with NGN, USD, EUR, etc. Currently, there’s a 0% fee for NGN deposits on EXMO.com! 🤑
• 65% APY on stablecoins during the first month — supply USDT, USDC and DAI and earn yield with EXMO.com’s Earn program.
• Ultra-low trading fees — 0.1% for trading in 90+ crypto pairs.
• Up to 100% trading fee discount with EXMO Premium packages.
• User-friendly mobile app on Android and iOS for easy trading while on the go.

👌 Create an account. Register on the chosen exchange by providing the necessary information. This typically includes your email address, a secure password, and any additional identity verification required by the platform. For example, with the help of useful tips, you can create an account on EXMO.com in just two minutes — two or even three times faster than it usually takes on other exchanges.

✅ Verify your identity. Complete the Know Your Customer (KYC) process by submitting the required identification documents. This step is crucial for compliance with regulatory standards and ensuring a secure trading environment. On EXMO.com, it usually takes 2 minutes to process your documents before we confirm successful verification.

💸 Deposit funds. Following successful ID verification, deposit funds into your account using the available payment options. On EXMO.com, you can easily top up your balance using Visa/Mastercard cards. Here’s a video guide on how you can deposit Nigerian Naira instead of euros.

🛒 Buy bitcoin Nigeria. Once your account is funded, you can start trading! On EXMO.com, you can trade NGN for USDT and then buy over 30 other crypto assets, including BTC.

Follow the link to read a step-by-step guide on how to buy bitcoin on EXMO.com!

On the EXMO.com platform, you have the opportunity to buy USDT with NGN. USDT is a stablecoin that is pegged to the US dollar. This allows traders and investors to safeguard their funds against inflation as the USDT rate is almost 1:1 to USD. Additionally, you can seamlessly transfer USDT directly to another trader who has an EXMO.com account, ensuring instant transactions within our ecosystem. You can also send your crypto to any other wallet or address in a matter of a few minutes. This feature is ideal for assisting relatives or making payments for services.

On EXMO.com, you can also gift crypto to your friends or loved ones with the EXMO Gift Card. Simply generate the card in a few clicks, deposit crypto, and present them with an original and valuable gift.