Last updated on September 20th, 2020 at 08:39 pm
In this post, we will show you how to fund and withdraw bitcoins in Nigeria.
Iâ€™ve seen people who sell Bitcoins to their friends on Facebook and forums. Though, this is not really a bad idea but itâ€™s not good enough. A lot of people complain that they were scammed while trying to sell or buy bitcoins from someone they met online. This have to STOP!
Having mention that, I recommend you guys to buy Bitcoins from a reputable company that sells Bitcoins. One of the trusted companies that sells and buys Bitcoins in Nigeria is BitX Payments Limited.
BitX is aÂ Singapore companyÂ thatÂ opened its services to NigeriaÂ in 2015. The company has branches in Nigeria, South Africa, Kenya, Malaysia and Indonesia. BitX Payments Limited is Registered under the Nigerian Corporate Affairs Commission with RC1216337.
How to Fund/Buy Bitcoins in Nigeria
To buy Bitcoins means to convert your Naira to Bitcoins.
- VisitÂ bitx.coÂ to create an account.
Sign in to bitx.co, click on Fund Account, select the bank you want to transfer the money from, choose others if your bank is not listed.
Send the money to BitX account which is displayed on the screen from your own bank account and click on â€œI have sent the paymentâ€.
Note: In the transaction description or remarks, enter the reference code generated.
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Your payment would reflect on your Bitx account immediately it has been confirmed.
Now that you have funded you BitX account, you can convert the Naira to its Bitcoin equivalent.
Sign in and click on ‘Buy’ to Fund your Bitcoin wallet, very safe and secure website. What you only need is to undergo â€Payment Card Verification Guideâ€ in order to make deposits with a payment card, your card will be confirmed by your bank and verified by their Compliance Officer. Still the Best!
How to make Bitcoin Withdraw/Fund in Nigeria
To withdraw your Bitcoins means to convert it to Naira or to currency of your Country (Only cex.io ‘CAN’ for both Nigerian and other Country).
You can also withdraw your Bitcoin through BitX with ease. All you need to do is transfer the amount of Bitcoin you want to withdraw from your wallet to your BitX wallet.
You can find your BitX wallet address by clicking on the three stripes at the left hand side to drop down the menu, click on receive and you will see your Bitx wallet address
Once the Bitcoin is available in your Bitx wallet, you can withdraw it to your local bank account by clicking on â€œSellâ€, enter the amount of Bitcoin you want to withdraw and click on the sell button at the bottom.
BitX sets a limit of how much you can withdraw from your BitX wallet. Initially, itâ€™s 150,000 Naira. You can increase your limit by verifying your identity. You can verify your identity by uploading either your voters card,Â NIMC card,Â Â international passport or statement of account.
Once youâ€™ve uploaded the documents, the amount you can buy or withdraw increases.
Other Trusted Exchange Companies of Bitcoin Withdraw/Fund are :
Buying Bitcoins from forums like Nairaland or social media is not advisable because you donâ€™t know who you are transacting with. Transacting with companies like BitX puts you on the safer side because they are a registered company.
Do you know any other company that you can withdraw/Buy Bitcoins from? Let us know in the comment section.