How to Buy and Sell Bitcoin in Nigeria – If you are reading this article, then you have probably heard of Bitcoin, but you may be wondering how to actually buy and sell it. Or maybe you are interested in investing in the digital currency, but aren’t sure where to start?
There are several different ways that you can invest in Bitcoin and other digital currencies, including mining, speculating on their value with CFDs, or buying coins directly from an exchange, such as Coinbase or Quidax. If you want to make money investing in bitcoin in Nigeria, there are several important things you need to understand before diving into the cryptocurrency space in Nigeria or anywhere else in the world.
To help you navigate this new frontier, we put together this simple guide on how to buy and sell bitcoin so that you can start making money with cryptocurrency today.
What is Bitcoin?
Bitcoin, Simply put, it’s a digital currency that can be used to buy goods and services from anyone who accepts it as payment. It was created back in 2009 by an anonymous person or group under the name Satoshi Nakamoto.
Bitcoins aren’t printed like regular money; instead, they are produced by people using software that solves mathematical problems. These coins are then stored in digital wallets on computers or smartphones until they are sold for cash.
Bitcoins can also be exchanged for traditional currencies like dollars, euros and Naira with some exchanges. How do I buy them? There are quite a few ways to purchase bitcoins online, you just have to know where to look. Some of these sites allow you to make purchases with credit cards, while others deal strictly in cold hard cash.
As such, your first step will be finding an exchange that deals in your preferred method of payment. Some good places to start include Coinbase (credit card purchases), CoinMama (credit card purchases), BitPanda (cash via bank transfer) and CoinBase (bitcoin only).
What should I consider before buying? Before making any decisions regarding how you want to purchase bitcoins, there are a few things you will want to think about. First off, how much do you know about cryptocurrency? If not much at all, it might be best to avoid trading altogether until you have done a bit of research into how cryptocurrencies work and how they differ from standard currencies. Next up is security: How secure are your devices?
How Nigerian Users Are Earning From BTC Transactions
The process of buying bitcoin is no longer a complex one, thanks to several exchanges that are offering their services in Nigeria. This guide takes you through everything you need to know about how you can start buying and selling bitcoins yourself. You will find all sorts of valuable information here, so let’s get started.
Getting your hands on some Bitcoins is where you start. There are lots of ways you can purchase Bitcoins, from Coinbase, KuCoin, Binance, Breet, Prestmit, I would recommend Coinbase because it’s very safe, backed by Silicon Valley investors and has served over 2 million customers at a time when cryptocurrency was still unheard of. It’s also easy to use so even if you are new to buying crypto like me, don’t worry! You can buy $100 worth of Bitcoin without much hassle. Once you have purchased your first batch, transfer them into an online wallet so that they are safely stored away from any potential threats or hacks. This will be your starting point for further investment.
You will want to set up a Buy Order with Luno, which is basically how you can go about purchasing more Bitcoins. If you have enough funds in your account, all you need to do is specify how many BTCs you want to purchase and place an order through their website or app. Then just wait for someone else who wants to sell their BTCs (or sell order) through Luno and complete your transaction!
There are a lot of legit people out there who want to sell Bitcoins, but also a lot of scammers. It is important to realize that selling Bitcoins can be extremely risky; however, if you know what you are doing, you might be able to make some good money at it. So how do you get started? First, we will cover how to buy and sell Bitcoin in Nigeria. Then we will show you how to find someone willing to pay for your Bitcoins with Naira (Nigerian currency). Finally, we will show you how to transfer your Naira into your bank account or mobile wallet. We have broken each step down as simply as possible so that even complete beginners can follow along easily.
First off, how does one actually go about buying and selling Bitcoin? The easiest way is to use an online service like Luno or Quidax Both sites allow users to buy/sell bitcoin using their local currency (in our case, naira). You will need a verified Paypal account on both sites because they only accept payment via Paypal during signup. For those of you who don’t have Paypal accounts, you can sign up for free at paypal.me . Once you have signed up for your accounts, proceed to step 2.
Once you have created your accounts on either site , you can begin buying/selling Bitcoins instantly! All that’s left is finding someone willing to pay for your Bitcoins with Naira.
Bitcoins have been used as a form of currency for many years. This post will give you all of the information that you need in order to purchase bitcoins, as well as how you can sell your bitcoins for a profit. This post is geared towards Nigerians looking for an entry point into Nigerian online business. It’s not uncommon for people to make large profits off of trading bitcoins. However, before you start buying and selling bitcoins it’s important that you understand how bitcoin works. Once you understand how bitcoin works then you can go on to buy and sell Bitcoin in Nigeria.