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How to Buy Bitcoin and Other Cryptos in Nigeria.

Now that you have realized that cryptocurrency is the currency of the future, you do not know how to start trading by buying and selling these cryptocurrencies. This article will show you how you can buy these coins, as well as sell them at a higher value.

Many people who are quite new to crypto thinks that crypto is complicated to trade, but when you understand its foundation and its value, it becomes easier every day. Trading cryptocurrency is getting easier and more legitimate. So, if you want to be a crypto investor, read on.

What is Cryptocurrency?

Cryptocurrency is a virtual currency that is already encrypted by cryptography, which makes it almost impossible to be counterfeited, abused, or respent. In other words, cryptocurrency is very different from the note-like currency or note.

Also, cryptocurrency is a decentralized network based on blockchain. This means that cryptocurrency is uncontrolled by any or organization or governmental body.

Blockchain, on the other hand is the technology behind cryptocurrencies that ensures smarter, secure, faster, and a more effective to transmit, receive and track trades using the most encrypted data.

READ ALSO: 4 Free Ways To Earn Bitcoin Online

What is Bitcoin?

Often regarded as the most valuable and most traded, Bitcoin is currently worth 10 million Naira. It is a decentralized cryptocurrency that only operates on a digital level. In other words, trading can only be done online. In fact, some commercial activities online are operated with the exchange of cryptocurrency especially bitcoin.

Current value of Bitcoin in Naira

What is a Bitcoin Wallet?

A Bitcoin wallet is different from your physical wallet which you keep money in. In cryptocurrency, a bitcoin wallet or crypto wallet is an encrypted software or app where your bitcoins or altcoins are stored. In the real sense, bitcoins are not kept anywhere. For a trader, it is simply a software program that facilitates the transactions of cryptocurrency with a secret key that corresponds to the wallet user. In other words, if you have a bitcoin wallet, you gain total control of what is in it. It is decentralized, unlike the government issued hard currency.

How to Buy Bitcoin in Nigeria

Having talked introduced what cryptocurrency is, Bitcoin especially, let’s see how to can start your crypto business by buying bitcoin. So, in this t section, you’ll be introduced to buying bitcoin through different methods. Although, there are about fifteen hundred cryptocurrencies out there, you can choose to buy other cryptocurrencies through these methods.

READ ALSO: How to Make Money From Bitcoin in Nigeria

How to Buy Bitcoin on Luno

Luno is one of the most used cryptocurrency interface out there. This is because it offers a user-friendly interface and an easy-to-trade method of buying and selling bitcoin. With Luno, you can trade bitcoin and other cryptocurrencies like Ethereum, Litecoin, and many others.

Also, for easy and portable trading, Luno has a mobile friendly app you can download from the app stores. To buy bitcoin with Luno, you can either buy through their website or start trading through their mobile apps on Playstore or iOS App store.

To buy bitcoin on Luno, follow these steps:

  1. Sign up with a valid mail address and password
  2. Fill in the boxes with your valid details
  3. You will be asked to provide the debit card details that matches with your name and bank account name
  4. When this is done, you create a unique access code. It is usually a four digit pin.
  5. Buy bitcoin or altcoin of any amount you wish to.

How to Buy Bitcoin with Paxful

Paxful is another common and most used crypto app that makes users trade bitcoin easily. To buy bitcoin or other cryptocurrencies, all you need to do is to log in (or sign up) and click the buy bitcoin page. Then, you buy the amount of currency you wish to buy worth if bitcoin.

How to Buy Bitcoins easily in Nigeria.

For a video explanation of cryptocurrency and trading, watch the YouTube video above and do endeavor to subscribe to our YouTube channel for more quality video contents on investments and finance.

Artful" title="Artful">Artful |   4 weeks ago

Artful is a budding lifestyle journalist, content writer, who loves to make research and provide the best stories for human consumption. He is addicted to milk, ice cream, travels, adventure, and discovering a new culture.

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