How to buy Bitcoin (BTC) in Nigeria with Naira (NGN)

Buy Bitcoin in Nigeria Using Naira with 5 Simple Steps

How to buy Bitcoin (BTC) in Nigeria with Naira (NGN). As Bitcoin continues to gain traction globally, more Nigerians are exploring how to invest in this digital asset. Buying Bitcoin in Nigeria using Naira (NGN) is easier than ever, thanks to a range of user-friendly crypto exchanges that support local currency transactions.

How to buy Bitcoin (BTC) in Nigeria with Naira (NGN)

In this guide, we’ll walk you through how to buy Bitcoin in Nigeria using Naira (NGN) with just five simple steps. Whether you're a beginner or just need a refresher, this article will cover how to compare exchanges that accept Nigerian Naira, choose the right exchange for your needs, create an account and complete the KYC process, deposit Naira into your crypto wallet, and buy Bitcoin directly using your deposited Naira.

Step 1: Compare Crypto Exchanges that Accept Nigerian Naira

Before you can buy Bitcoin, you need to choose a crypto exchange that supports NGN. Here are four popular platforms to consider:

CoinCola

CoinCola is a peer-to-peer crypto exchange that allows users to buy and sell Bitcoin and altcoins using Nigerian Naira. It offers low transaction fees, fast processing, and supports various local payment methods, making it a favourite for many Nigerian users.

Busha

Busha is a regulated Nigerian crypto exchange designed for both beginners and experienced traders. It supports over 40 digital currencies, offers competitive rates, and features like crypto savings and recurring buys, all while maintaining strong security protocols.

Yellow Card

Yellow Card is one of the most accessible platforms for Africans to buy and store Bitcoin and stablecoins using local currencies, including NGN. It boasts zero trading fees, supports multiple local payment options, and is available in over 20 African countries, making it ideal for both individuals and businesses.

Quidax

Quidax is a home-grown African crypto exchange that supports trading in Bitcoin, Ethereum, USDT, XRP, and more. It provides various buying options like Instant Swap, order books, and peer-to-peer (P2P) deposits. NGN is fully supported, and its platform is designed for seamless use.

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Step 2: Select Your Preferred Exchange

Once you've compared the features, fees, and user experience of each exchange, select the one that best fits your needs. When making your decision, consider factors such as the supported payment methods, transaction fees, the range of available cryptocurrencies, user reviews and overall trustworthiness of the platform, as well as whether the exchange offers a mobile app and how easy it is to use.

Step 3: Create an Account and Complete the KYC Process

To start trading on any crypto exchange, you’ll need to create an account and verify your identity through a process known as KYC (Know Your Customer), which helps protect users and prevent fraud. Typically, you’ll need a valid email address and phone number, a government-issued photo ID such as a passport, driver’s license, or national ID, and a clear selfie for identity verification. You’ll also need access to the internet via a mobile or desktop device. Most exchanges provide step-by-step guidance during the sign-up process, and verification can take anywhere from a few minutes to a few hours, depending on the platform.

Step 4: Make a Deposit Using Nigerian Naira

Once your account is verified, it’s time to fund it. Most Nigerian exchanges allow you to deposit NGN using bank transfers, which are typically instant or processed within the same day, as well as debit or credit cards, peer-to-peer (P2P) payments through other users on the platform, and, in some cases, cash deposits at partner agents. Choose the payment method that is most convenient and secure for you, keeping in mind that some options may include small processing fees.

Step 5: Buy Bitcoin with Your Deposited Naira

Now for the final step, buying Bitcoin! On most beginner-friendly exchanges, you’ll simply select the “Buy” or “Trade” option from the dashboard, enter the amount of NGN you want to spend or the amount of BTC you wish to purchase, review the current exchange rate and transaction fees, and then click “Buy” to complete your transaction. Your Bitcoin will be credited to your wallet almost instantly. From there, you can choose to hold your BTC in the exchange wallet, transfer it to a secure external wallet, or sell or trade it later as the market changes.