How to buy Ethereum in Nigeria
'How can I buy Ethereum in Nigeria?' is a popular search engine request these days. With the global hullabaloo around cryptocurrency, the interest towards Ethereum has grown a lot. Buying Ethereum even in Nigeria is not complicated. Everything you need is check out the following guidance and follow the steps described in it with attention.
Where can one learn how to buy Ethereum in Nigeria?
If you are interested, you can find the information here. It’s one of the safest ways that will help you purchase the cryptocurrency without stress. There are many other sources of information and some of them are less reliable. You can never know whether the options they promote are safe for you and your money.
READ ALSO: How to start Bitcoin business in Nigeria?
Well, there are numerous web resources where they offer paying for the Ethereum through your Naira debit card, through your credit card, or immediately through your bank account.
Of course, every of the recommended options has its positive and negative sides, its advantages and drawbacks, and you can win by using any of them. Yet, Bitcoin Africa still seems to be the quickest and safest way of converting your funds into cryptocurrency.
If you follow the steps listed below, you will be able to purchase certain amounts of the cryptocurrency from a real person. You will not need to worry about the price because it will not change.
Easy steps to buy Ethereum without stress
- Enter the official website of the retailer, that is of the Bitcoin Africa
- Get registered. You will need to create your own account to be able to make transactions on this website
Be very careful and attentive while filling out the fields in the registration form. The point is that the system of the Bitcoin Africa is checked and regulated by the Central Bank of Nigeria. You should enter only the existing and correct identification data in order to be checked by the bank.
You will need to provide a working email address to confirm the creation of your account and as additional identification detail for the execution of transactions. In addition to this, you will need to render your banking details, the information from your BVN, and your contact phone number.
- Choose the trader who’s located in Nigeria
The system will show you all the traders who are into selling the Ethereum in Nigeria and their prices. After your banking details are checked in a proper way, the website will redirect you to the page where you will see how much money you have for the transactions and the currencies that are available to you.
You will need to select the currency and state the amount you would like to purchase. Based on your request, the system will show you all the traders who offer the needed amount of the cryptocurrency and the price they want for it.
- Double check everything and confirm the purchase
When making such transactions on the Internet, you need to be sure about all the amounts you choose and the funds you pay. It’s not an offline shop where you pay with cash and can always return the goods and receive the cash back.
Before you confirm the purchase, check all the details precisely and make sure everything is correct. If everything is okay, then click the Confirm button and proceed to the next step.
- Purchase your currency
Now, you will be redirected to the next page where all your banking details will be offered to you again so that you can check everything again and confirm or not confirm the purchase. Click the Buy button and in the following step, choose whether you will pay with the help of your card or through your bank account. The supported banks are Wema Bank (ALAT), Zenith Bank, First Bank, and GTBank. It’s expected that some new banks will join the system in the nearest future.
If you choose to pay with the card, you will see a popup window, in which you will be able to fill in your card details. You need to be very accurate and enter the details correctly, otherwise the transaction will be declined and you will need to start it all again. It’s possible that you will need your phone to verify the transaction.
READ ALSO: How to make money with Bitcoin in Nigeria
In case you prefer to buy Ethereum with bank account, you need to select your bank from the list offered by the system and then authorize your account. You will receive a password on your phone. Enter the password and your birth date to authorize the account and then, the second password that will come to your phone to complete the registration process. Click the Pay button and complete the purchase.
Now you can see your purchase in your wallet at any time. You are free to save it, resell it, or send it to another wallet as you wish.
What is Ethereum, to make things clear?
Ethereum is a generally accessible program platform that’s based on the blockchain technology and a popular business idea for those who want to invest money in something valuable. If you are knowledgeable in the software development, you will understand also that developers are able to build their applications on the top of this platform.
Similarly to Bitcoin, the platform has its own cryptocurrency that’s sometimes called Ether for convenience and is also shortened to ETH. However, unlike the situation with Bitcoin, everyone knows who created the Ethereum.
It was Vitaliy Buterin who had a goal of creating something like blockchain in order to deal with certain Bitcoin issues. The platform was also planned for developers who could create decentralized applications. The Ethereum is a system that many other cryptocurrencies are built on.
Some people say that they are similar to Bitcoin but there’s a range of conceptual differences between them. Ethers are not only a type of currency that’s used as money. They are also able to warranty the execution of smart contracts, playing the role of a certain fuel for the network.
READ ALSO: Bitcoin investment in Nigeria: facts you should know
Source: Legit.ng