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How to easily buy Bitcoin in Nigeria – Step to Step Guide

So many persons finds it hard to buy bitcoin easily especially In Nigeria and some other African countries, here am going to show you the most legit and convenient way you can buy Bitcoin and other crypto currency here in Nigeria.

Recently the Nigerian government restricted the buying and selling of bitcoin In Nigeria, you can’t even buy bitcoin with your Atm card like before, but we have a trick and a way to bypass that restriction. Kindly follow the full instructions guide below.

Where to Buy Bitcoin In Nigeria

The most trusted, fastest and reliable place to buy bitcoin In Nigeria is Binance. According to wikipedia, Binance is a cryptocurrency exchange which is currently the largest exchange in the world in terms of daily trading volume of cryptocurrencies. It was founded in 2017 and is registered in the Cayman Islands. Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software.

Many smart crypto investor are in Binance transacting 24/7.

How safe is it to buy bitcoin on Binance

Binance – which is home to over 100 million users worldwide – has facilitated trillions of pounds worth of trading activity in the first six months of 2021 alone. The platform offers hundreds of cryptocurrencies that you can buy, sell, and trade online to via the Binance app. With some many factors and years of existence we can boldly say that Binance is very safe when it comes to buying of bitcoin In Nigeria.

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Advantages of Buying bitcoin through Binance

Security

Like i said above,Binance is a home of more 100m users, for it to have this amount of users then it means that it is very safe to trade on binance, lets check some safety factors below:

  • Cold Storage: Binance notes that the overwhelming majority of client cryptocurrency funds are stored in cold wallets. For those unaware, this means that the tokens are stored in wallets that are kept offline at all times – which makes a hacking attempt near-impossible.
  • 2FA:Two-factor authentication is required whenever you attempt to log into your Binance account or you make a withdrawal. This means that Binance will send a code to your mobile phone – which will need to be entered to gain access to your account.
  • Email Confirmation: In addition to 2FA via your phone, you will also need to enter a code that is sent to your registered email address.
  • SAFU: The SAFU (Safe Asset Fund for Users) at Binance refers to an insurance pot that is funded through transaction fees. Put simply, the SAFU will be used in the event that Binance experiences a hack.
  • Device/IP Whitelisting:
  •  Any time that you attempt to login to your Binance account from a new device or IP address – you will need to go through an additional security step. This is usually in the form of an email confirmation.

    Low transaction fee

    Another good advantage of buying coin from binance is the low transaction fee, from research, binance is one of the p2p crpto companies that has the lowest transaction fees, you don’t need to spend much apart from the actual amount worth of the coin you are buying.

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    Buying bitcoin with local currency (P2p)

    Binance operates on P2p, this means that different sellers of bitcoin in your local location is always available, and with this you you are able to pay with your local currency e.g every Nigeria can buy bitcoin with Naira bank transfer on Binance. Also many sellers of bitcoin on Binance accepts cash payment, this means that you will buy bitcoin face to face with the seller and give him the cash directly.

    How to start Buying bitcoin on Binance

    1. Go to Binance.com and click [Register].

    2. Click [Mobile] and enter the mobile number and password for your account, and the Referral ID (if any). Read and agree to the Terms of Use and click [Create Account].

    Note:

  • For account safety, the password should consist of at least 8 characters, including 1 uppercase character and 1 number.
  • If you’ve been referred to register on Binance by a friend, make sure to fill in the Referral ID (optional).
  • 3. Complete the Security Verification.

    4.The system will send an SMS verification code to your mobile phone. Please enter the 6-digit verification code within 30 minutes. If you can’t receive it, click [Resend], or click [Please try voice verification] to use voice verification instead.

    5. verify you identity by uploading any identification id.

    You can access the Identity Verification from [User Center] – [Identification] or access it directly from here. You can check your current verification level on the page, which determines the trading limit of your Binance account. To increase your limit, please complete the respective Identity Verification level.

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    Now start buying bitcoin with below instructions

    1. Log in to your Binance account and click [Buy Now] on the homepage banner.

    2.You can choose to buy crypto with different fiat currencies. Enter the fiat amount you want to spend and the system will automatically display the amount of crypto you can get. Click [Continue].

    3. You can choose your preferred payment method here. To buy with credit/debit card, click [Visa/Mastercard] – [Continue].

    4. Follow the instructions and enter your card information.

    5. Your card will be added. Click [Continue].

    6. Please check the payment details and fees and confirm your order within 1 minute, or the amount of crypto you can get would be recalculated based on the current market price. You can click [Refresh] to see the new order amount.

    You will be redirected to your bank’s OTP Transaction Page. Follow the on-screen instructions to verify the payment. After that, you can see the purchased crypto in your Binance Spot Wallet instantly.

    click here to register on Binance and get free welcome bonus

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