How To Buy Bitcoin Online In Nigeria
Are you willing to buy Bitcoin? Then, this post is for you.
Bitcoin (also known as BTC) is the most valuable cryptocurrency in the World today with 1 BTC equivalent to 5.3Million Naira (as of 1st of September, 2020)
Some of the other emerging cryptocurrencies are Ethereum, Litecoin etc.
Invented by Satoshi Nakamoto in 2009, the currency works on a decentralized model, which means nobody controls the price.
This is the reason why the price moves in a zigzag manner day in day out. It might increase in value today and decrease in value tomorrow.
The two major ways of acquiring bitcoins include mining and buying
The mining process is however very complicated.
However with the advent of technological advancement, there have been many platforms that allow you to buy crytocurrency in exchange for your Naira Money.
Most of these platforms are known as Wallet. You can also send an receive crytocurrency using them.
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But how can you buy Bitcoin? Check the process below.
- Download Luno App From Apple Playstore
There are many wallets where you can buy Bitcoin with your money but one of the best wallets is Luno.
Download the app from here
- Launch the App
After downloading, launch the app. You will get this interface
After launching, next is for you to create an account on the platform.
- Click on ‘Profile‘
Click on Get Started
After that, you will be required to input your email address and password.
Afterward, a confirmation mail will be sent to your inbox.
After confirming, go back to the app to log in.
- Buying Bitcoin
After you have logged in, next is to click on ‘buy‘
It will direct you here
Select NGN Wallet.
It will lead you here
Select “Top Up Wallet”
After that, you will be directed here
There are two payment methods on the wallet
- Paying with Paystack
- Paying with PayU
- Paying With Paystack
To pay with Paystack, select the first option and it will lead you here
You will be required to input the amount you want to use to buy Bitcoin. In the screenshot above, that’s 50,000Naira.
After that, you will be directed here
The page above comprises of the charges to be collected by Luno and the amount you want to use to buy BTC.
Click on Continue To Paystack and you will be taken here
Here, you will be required to select the bank you are using.
Note that not all banks are available.
The available banks are shown in the screenshot below
Select your bank if it is available
Next, you will be directed here
You will be asked to Input your bank account number.
After that, click on Verify Account
You will be directed here
You will be required to input your birthday.
After that, click on “continue”
You will be taken to a page where you will be required to input your BVN.
After that, your account will be deducted and will be converted to BTC for you.
- Payment With PayU
To pay with PayU, click on “Pay With PayU” in the screenshot below
After selecting, you will be directed here
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The image above shows both the commission and the amount you want to use to buy BTC
Click on Continue To PayU to continue
You will be directed to this page where you can input your ATM Card Details and Make Payment.
After that, the money will be deducted and converted to BTC for you
The BTC will be available for you on your LUNO Crypto Currency Wallet.
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And there you have it… How to buy Bitcoin Using Luno App.
Do you know other wallets where one can buy Bitcoin?
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