Bitcoin in Nigeria is gaining traction as a way to make money online. The country has high inflation and a fiat currency that doesn’t hold value. Traditional banks also charge absurd fees for basic transactions. And, since the country’s unemployment is rising, the cryptocurrency is proving to be a great alternative to traditional banking. With all of these advantages, Bitcoin is now more popular than ever in Nigeria. But what’s the future of Bitcoin in Nigeria?
As of March 2019, the government of Nigeria banned all transactions made with foreign currency by textile importers. For Moses Awa, a Nigerian trader in woven shoes from China, this ban threatened to tip his business over the edge. But he remained optimistic that the ban would be lifted and that the country could once again become a leader in cryptocurrency trading. Despite the ban, Bitcoin is thriving in Nigeria. Despite the ban, the government may soon lift the ban and start regulating cryptocurrency trading.
If you want to buy Bitcoin in Nigeria, the best way to get started is by signing up on a website. You can choose between several options and use the one that suits your budget and needs the best. Some of the best exchanges are listed below. Just remember that the best place to buy Bitcoin in Nigeria is one that allows you to use multiple payment methods. Some exchanges require you to use your bank account or e-wallet to deposit funds. Other exchanges can also be a good option, but be sure to read reviews and ask questions before making a decision.
LocalBitcoins is another popular platform for buying and selling Bitcoin in Nigeria. The website offers a wide range of payment options, including international money transfers and mobile money. It also boasts over 300 payment methods. And if you’re nervous about using your bank account to buy bitcoin, you can also use a Bitcoin ATM. This is a safe and private way to buy and sell bitcoin in Nigeria. So, what’s stopping you? Grab the opportunity to buy and sell Bitcoin in Nigeria today!
Binance is a leading global cryptocurrency exchange software. Besides offering a variety of currencies, it allows users to buy, sell, and exchange them. It also offers an escrow system to increase security. To buy Bitcoin in Nigeria, you can use either LocalBitcoins or Binance. Then, you can buy the cryptocurrency you want from an exchange that supports naira. In the meantime, learn more about Bitcoin in Nigeria. You’ll be surprised at how easy it is.
You can buy Bitcoin with fiat money through Changelly. Another popular option is to use a debit card such as ApplePay, or a bank transfer like MoneyGram. Despite the fact that Nigeria has a ban on debit cards, international debit cards will still work. In addition, international debit cards are cheaper than credit cards. Purchasing Bitcoin with these options will allow you to buy, sell, and exchange it for fiat currencies.