Last updated on January 16th, 2021 at 01:27 pm | This article was published at an earlier date and has been updated with new information.
As you all know and it’s no longer news that Nigeria is the fastest-growing new Bitcoin economy and for good reason.
Nigerians are resourceful and natural entrepreneurs who are now seeing a devaluation of their native currency and they are taking action. Bitcoin is the best option they have.
There are four main ways to buy bitcoins in Nigeria through Paxful easily.
Below are the 4 main ways to buy Bitcoin easily on Paxful in Nigeria & their effect:
- Cash Deposits such as Western Union, MoneyGram, and local Nigerian bank deposits. This is the least expensive way to do it. It often takes a few hours. We HIGHLY RECOMMEND CASH DEPOSIT SUCH AS MONEY GRAM AND WESTERN UNION FOR NIGERIAN BUYERS
- Online Wallets such as PayPal, Skrill, or Google Wallet, etc… This can be instant but the ID will be required and rates are high.
- Credit/Debit, this is instant but the ID will often be required and the rates can be very high as there is considerable risk to vendors who get paid this way.
- Gift Cards is instant and ID if not required yet the prices are high. Many of the most popular gift cards are not sold in Nigeria and are obtained through brokering which is not permitted on Paxful
Western Union and MoneyGram work in Nigeria and we recommend using these services until more Paxful Vendors allow buying through Nigerian Bank transfer or cash deposit.
Steps to buy bitcoins in Nigeria through Paxful with Western Union and Money Gram. Also read: Ethereum Remitano | Remita Introduced Ethereum
Before proceeding in Buying Bitcoin on Paxful, you must register first or log in.
Then follow the steps below:
- Search for Buying Bitcoin with Western Union here or Buying Bitcoin with Money Gram here. Choose Western Union or Money Gram respectively.
- Read the offer terms clearly and make sure the vendor has a reputation of over 50. Accept the deal and the bitcoins will be loaded into a safe escrow waiting for your payment.
- Follow the vendor trade instructions and once you have made payment click the “mark as a paid button” Then wait for the Vendor to confirm that you have paid and release bitcoins to your wallet. If there is an issue then click the dispute button. If you have NOT paid the vendor and they are unresponsive then you can click cancel and try someone else.
- If the Vendor releases the escrow then the bitcoins are now in your Paxful Wallet and can be sent out immediately.
That is all the steps needed, you should now have your first bitcoins. If you are in Nigeria and want to learn more about selling bitcoins at a profit using your Nigerian bank accounts and helping other Nigerians click here. Paxful customer support will happily help you figure it all out.
Simplest Step to Buy Bitcoin from Paxful.com
You easily sell your Gift cards on Paxful by following this link: