How to buy ethereum in Nigeria (step by step guide)
Before we get into how to buy ethereum in Nigeria, let us remind ourselves what ethereum is.
What is ethereum?
Ethereum just like Bitcoin is a blockchain based technology designed to store different types of data. This data can be accessed and used by computer programs running on the ethereum blockchain. These programs are called decentralized apps or Dapps.
Ethereum was created by Vitalik Buterin in 2014, and the purpose of ethereum is to be a platform on which smart contracts can be built and run.
How to buy ethereum in Nigeria
Although there are many exchanges where you can buy ethereum, am going to be showing you a step by step guide on buying ethereum on two exchanges
I will also list some other exchanges where you can buy ethereum in Nigeria.
Let’s get into it then
How to buy ethereum from Bitkoin Africa
1. Visit Bitkoin.africa
2. Register: you will be required to fill in details like
i. first name
ii. Last name
iii. Email address
iv. Username and password
Your BVN and bank details are required to ensure that you are a real person. Verification of your phone number and email address will also be required.
3. Select an ethereum seller:
Select an ethereum seller based on the amount of ETH you want to buy and the price. After verifying your details, you will be redirected to the dashboard that displays currencies available and your wallet balance.
Click on the “buy/sell” option in the menu and then select ethereum from the options. You can also state how much you want to buy. When you’ve done that, you will see the results of all traders willing to sell the volume of ethereum that you want to buy.
4. Review and confirm:
The next step is to review the price and volume of ethereum to be sure you’re making the right transaction. Ensure all the details are correct because transactions cannot be reversed. Click review and confirm to continue.
Just as one more verification step, the details of the transaction will be provided to you again.
5. Click buy ethereum:
Click “buy ethereum” to proceed. You can decide to pay with your card or your bank account. For bank account users, only ALAT by wema bank, first bank, zenith bank, and GT bank are supported.
6. Select pay with card:
Upon clicking “Buy ethereum”, A pop-up window will come up giving you the option to enter your card details. Please ensure you enter them correctly. You might also be required to verify your transaction using the OTP which will be sent to your phone. Once that is done, you have successfully bought ethereum.
7. Select pay with bank account:
If you click “pay with bank”, you need to select your bank from the drop down menu and verify your account by entering your account number and clicking the “verify account” button. Enter your date of birth and the OTP that has been sent to your phone, then click “complete registration”. Another OTO will be sent to your phone. Enter the second OTP,click “pay” and your transaction is done.
When your purchase is complete, you will receive ethereum in your bitkoin Africa wallet, you can trade it or send it to another wallet.
How to buy ethereum on Nairaex
1. Visit Nairaex.com
2. Register with:
ii. Email address
3. You will be directed to your dashboard, which displays the various options available for crypto exchange. Here you can simply click on “New order” button to initiate the purchase.
4. Here you will be presented with a number of options to detail the transaction that you want. Under trade, you can select to buy oylr sell ethereum. Switching the currency from Bitcoin to ethereum will ensure the entire transaction uses the appropriate exchange rates as outlined on the top of the page.
5. Simply enter the amount of ETH you want to buy and the sum of naira required will be automatically updated below. To sell ethereum, the same applies. Inputting the amount of ethereum will display the amount of Naira you will receive.
6. Now click “NEXT” to enter your ethereum address. Under payment options you will be able to select a verified account either bank account or perfect money account to fund your purchase.
Nairaex also supports a number of banks as your bank account can also be used as a payment option.
7. Finally, you can click complete transaction to finish the process of buying/selling your cryptocurrency.
Some other exchanges where you can buy ethereum in Nigeria:
Luno (formerly bitx) is an exchange that is headquartered in London, it is available in 40 countries, luno offers a secure way to buy ethereum with your bank account.
Remitano is a peer to peer marketplace, remitano is owned and operated by Babylon solutions ltd, a Seychelles based company.
Remitano holds buyers funds in escrow, then allows sellers to list their cryptosphere for sale. Remitano has in place some security measures to protect it’s users:
1. A 2 factor authentication process for initiating transactions.
2. An escrow system
3. Login protection using an email verification system.
Ngexchanger is a company based in Port harcourt, Nigeria. They deal on digital currencies, they have been in operation for over 2 years. The major advantage of Ngexchanger lies in the convenience users enjoy when buying cryptocurrencies. This is a very good option to buy ethereum in Nigeria.
Instant gold Nigeria
There are some other exchanges where you can buy ethereum in Nigeria, but I have tried my best to cover the ones I think are the most convenient if you are in Nigeria.
The value of most cryptocurrencies skyrocketed in 2017, it’s no wonder everybody wants to jump on the train, ethereum sure looks to have lots of potential, and who knows, the price may even double in the next year or so. The best time to invest on it was yesterday, but the second best time is today.
If you have bought ethereum on any of these exchanges before, and you have something to say, you can leave it below in the comments, and also if you have questions, you can also ask, I will do my best to answer the ones I can. Thank you for reading and don’t forget to share on social media.
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