November 29, 2021
How To Start Investing In Bitcoin In Nigeria.

How To Start Investing In Bitcoin In Nigeria

How To Start Investing In Bitcoin In Nigeria.

How To Start Investing In Bitcoin In Nigeria. Before investing in bitcoin it is good for you to know what it means. You must have heard of it in passing or have a little knowledge of it, it is still good we talk about it.

What is Bitcoin?

Bitcoin is a digital currency and it is paperless, that is it is unlike all these currency notes.

Bitcoin is not controlled by any single person but by bitcoin users all over the world.

In some countries, the use of cryptocurrency is not permitted but that has not stopped people from doing them.

Some of the things you can do with bitcoin include using it as an investment to diversify your assets.

Furthermore, trading it to make money from price fluctuations is just like forex trading.

Additionally, you can also use it to transfer money across borders, it is cheaper and faster.

How To Invest in Bitcoin:

With platforms like Binance investing in Bitcoin has become very seamless. Binance has over 13 million users it is the largest crypto exchange in the world.

With as low as #50 you can start investing in bitcoin, open an account, deposit money into your e-wallet account and purchase bitcoin.

How To Invest in Bitcoin in Nigeria:

Since depositing money through debit cards was banned by the Federal Government another way you can achieve that is through the p2p section of Binance.

READ ALSO: Zedvance Loan: How To Get A Loan From Zedvance

The P2p or peer-to-peer allows you to withdraw and deposit funds into your wallet.

If you have signed up and verified your account, just head to the P2P section.

Creating a Binance Account:

Go to Google play store and download the Binance Application.

Next, Register with your details and verify your email from the link sent to your email account.

Furthermore, head to your account section and verify your identity, you will need an identity card to do this part.

How To Deposit Money In Your Wallet :

  • Go to the Binance Menu and clock on the wallet
  • After clicking on Deposit, it will take you to the next screen, where you will need to click deposit fiat.
  • Select the currency you want to deposit, since it’s Nigeria, yours should be Naira.
  • Next, is to choose the method you want to use in the deposit, either deposit or bank transfer. Click continue
  • Enter the details of how much you will like to deposit and click on submit if it’s bank deposits.
  • But if it’s transferred, input your card details. Do not forget to put the deposit reference code in the transfer summary.
  • Your account will be credited with the specified amount.

How To Deposit Money In Your Wallet in Nigeria:

You know due to the CBN policy the method to deposit money in your wallet is through the P2P in Binance.

The method is as follows:

  • Click on the wallet in Binance and select P2P.
  • Secondly, click on P2P trading.
  • Third, click on buy in the fiat box and select NGN.
  • Select offers that are convenient for you but with a high completion rate.
  • Select the amount you want to deposit and you will be taken to the account number details of the person selling and sent using bank transfer.
  • Once payment is made, click on next, and once the trader confirms payment, the money will be deposited into the account.
  • Note the account of the trader will be frozen until the transaction is done entirely.  the number of the trader.

Purchasing Bitcoin

Once your wallet is funded, click on it and select fiat and the spot in the menu.

Click on buy beside bitcoin when the pages load.

READ ALSO: 10 Best Apps That Pays You Real Money In Nigeria

Next, select the amount worth of bitcoin you want to buy. For instance, if you want #20,000 bitcoin, input #20,000 in the field for the amount.

Alternatively, you can buy 0.5 BTC by typing 0.5 in the field.

Confirm all the details and click on buy. Click on the menu to see if you have been credited with the bitcoin.

Conclusion:

If you do have any more questions on How To Start Investing In Bitcoin In Nigeria. please do not hesitate to let us know in the comment section.