Do you want to double your coins by investing in cryptocurrency in Nigeria? OK, you can do this. By taking advantage of peer-to-peer investment opportunities on Binance, it is possible to make transactions both quickly, easily, and securely. Binance offers you many payment methods and speeds for buying and selling Bitcoin, or hundreds of different altcoins currently in circulation. While in Nigeria, you need to follow the steps below to open a Binance account immediately and then start trading Bitcoin.
Step-by-Step Guide to Buying and Selling Bitcoin in Nigeria – with Screenshots!
Here’s a step-by-step guide to buying Bitcoin or other cryptocurrencies on your Binance account in Nigeria:
- First, you need to create your Binance account here. Of course, having an account is a requirement. Open your account with correct credentials, verifying and activating 2FA. It will be much easier after that. Signing up on Binance is already completely free and is possible digitally in a matter of minutes.
- Log in to the system by typing the 2FA approval. For this, you will need to enter the password sent to both your phone number and your Gmail address into the system. Are you logged in? Wonderful!
- Then add at least one payment method to your account. In this way, you will be able to transact much faster when buying Bitcoin.
- In the next step, you need to define your search criteria before you can start Binance P2P trading on your mobile app. To do this, click on the “Buy with cash” option from the application. Among the options on the page that appears, choose the P2P option.
- Click the ‘Buy’ button on the page. In this step, you will need to choose a cryptocurrency. If you want to buy Bitcoin, tap Bitcoin. Then click on the filter icon in the upper right corner of the screen to proceed to the next step.
- You will now need to select a payment method for the purchase. Also since you are in Nigeria you will receive the cryptocurrency with NGN currency. Make both choices as per your convenience. If there is a pre-registered payment method, you can select it directly. If not, you need to register a new payment method.
- After choosing the payment method, click on the “Confirm” button.
- Did you choose the payment method? Wonderful! Now you need to choose how much NGN you want to trade and see the amount of BTC you will receive in return. Of course, these processes can take place after you choose the best offer for you. We assume that you continue to trade with fiat and will pay with NGN. Write how much NGN you want to spend in the box that appears. The system will automatically show you the quantity of BTC you can buy right below. If you approve, continue.
- The transaction you will make will ensure that the money is transferred directly to the seller. The transfer will be sent to the payment information that the seller previously provided to the system. If you wish, you can also communicate with the seller via the chat box while doing this, and you can send him a message.
- You can complete the P2P purchase of Bitcoin in Nigeria by clicking the “Transferred, Next” button above.
How To Sell Your Bitcoin in Nigeria by Binance P2P?
If you want to sell your Bitcoin in Nigeria with Binance P2P, you can quickly complete the transaction by following the steps below. Remember, one of the most important advantages of choosing the P2P method is that you have no post-sales withdrawal limits. Then, you can withdraw and trade as much money as you need instantly.
- One of the first requirements for selling Bitcoins with P2P is to have a verified account. Do not forget to complete the verification process that we mentioned to you in the previous parts of the content.
- Then continue by following the steps below:
- First, log in to the Binance app.
- Click on Buy with Cash on the home page of the application.
- Then choose the Sell button and click BTC among the cryptocurrencies. If you want to buy another cryptocurrency, you can choose that too.
- What you need to do is to touch the filter icon in the upper right corner of the screen right after this process.
- To continue the transaction, you need to determine which account you want the money to be deposited into when you sell BTC. Select the payment method for it. If you do not have a registered payment method, register by adding new information. As a Currency, you have to choose NGN since you are in Nigeria. If all is ok, click Confirm.
- In order to finalize your sales transaction, you must find the most suitable offer for you before pressing the Sell button. Which price offer is the most suitable for you among the purchase orders? Examine in detail and decide quickly.
- Enter the Bitcoin quantity you want to sell, confirm the payment method, and then click the relevant button.
- Wonderful! Here you are, done. The money you have set to your bank account has been transferred as NGN. You can act as you wish. In addition, if you wish, it is also possible to communicate with the buyer via the chat box while all these are taking place.