In this tutorial, we will be sharing how to buy ethereum in Nigeria using your Naira debit or card or your bank account. It’s a very simple process that requires you to pay a little attention to the steps.
What is Ethereum?
Ethereum is a public software platform built on blockchain technology and enables developers to build applications on top of it. Just like Bitcoin, Ethereum has a cryptocurrency denoted by ETH and sometimes called Ether, that serves as a peer-to-peer electronic currency system. Unlike Bitcoin, however, Ethereum’s inventor is known – Vitalik Buterin. Vitalik developed Ethereum on blockchain technology to solve some of the problems Bitcoin faces and also to provide a platform for developers to build decentralised applications. Many other cryptocurrencies have been built on top of Ethereum’s blockchain.
Where can you buy Ethereum in Nigeria?
There are many websites that allow you buy Ethereum in Nigeria with your Naira debit card, credit card or directly from your bank account. They are called “Ethereum Exchanges”. Some of them support other cryptocurrencies as well. In this tutorial we will be using Bitkoin Africa. Every exchange has its unique value proposition, fees and processes. The fastest and safest exchange is Bitkoin Africa.
Bitkoin Africa facilitates peer-to-peer transactions. This means anytime you buy Ethereum from the site, you’re buying from a real person at a set price and volume. This article will guide you through the process of buying Ethereum using Bitkoin Africa.
ALSO READ: HOW TO BUY BITCOIN IN NIGERIA
1. Visit Bitkoin Africa
To get started visit Bitkoin Africa by entering www.bitkoin.africa in your browser or click here.
For you to buy Ethereum from Bitkoin Africa, you must first create an account by registering. You need to fill in all your details correctly so that you can be properly verified. Bitkoin Africa like many online Nigerian businesses is regulated by the CBN and adheres to its rules and regulations for selling on the internet. Your BVN and bank details are required to be sure that you are truly a real person. You will also be required to verify your phone number and email address. This is standard procedure to carry out transactions on many Nigerian websites these days.
3. Select an Ethereum Seller in Nigeria
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(which is what you want to buy) from the options. You can also state how much you want to buy. In this example, we used 0.1ETH.
When you’ve done that, you will see the results of all traders willing to sell the volume of Ethereum 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 Ethereum transactions cannot be reversed. Click Review and Confirm to continue.
5. Buy Ethereum in Nigeria
Just as one more verification step, the details of the transaction will be provided to you again. 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 GTBank are supported. More banks will be added soon.
6. Select Pay with Card – Buy Ethereum in Nigeria using Card
Upon clicking ‘Buy Ethereum’, A popup 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. Congratulations!
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 one-time password (OTP) that has been sent to your phone, then click ‘Complete Registration’. Another OTP 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 and you can trade it or send it to another wallet. To access your Bitkoin Africa wallet, go to the Wallet menu on the navigation bar and select the Ethereum wallet from the drop-down menu.