Buying Bitcoin using a credit or debit card in Nigeria is now easier than ever.
As a result of the wide range of financial opportunities available in the cryptocurrency market, there are many people who are eager to acquire cryptos.
If you’d want to buy Bitcoin, you can do so at numerous websites accepting credit or debit cards.
The Naira debit card and credit/debit cards from other countries aren’t accepted by all of these companies.
To find the finest Bitcoin sites that accept credit/debit cards from all countries, including Nigeria, I took my time looking through the sites that accept credit/debit cards.
I’d love to share my discoveries with you.
Take a seat and enjoy the journey.
How To Buy Btc With Debit Card
Nigerians would no longer be able to purchase cryptocurrencies using their credit or debit cards.
Banks and financial institutions were directed to block any user’s account associated with crypto by a letter from CBN.
To get around the ban on crypto purchases in Nigeria, you’ll need to use P2P or one of the other workarounds.
Credit/Debit Card Bitcoin Purchase Sites
Many online exchanges accept credit or debit cards for Bitcoin purchases, as previously indicated.
However, not all of them accept credit or debit cards from Nigeria and other countries.
In the beginning, it was difficult to buy Bitcoins with a credit or debit card.
Since credit/debit card transactions are sometimes viewed as a risk, several exchanges refuse to accept them.
There were just a few credit card payment processors, and most of them did not offer services to cryptocurrency-based companies.
Many exchanges, however, have been deploying mechanisms to detect fraud in recent years.
Some new payment processors, such as FlutterWave and Paystack have also emerged to cater to the needs of crypto firms.
As a result, credit/debit card purchases are becoming more commonplace on exchanges.
All credit and debit card transactions are accepted by the majority of exchanges.
The credit/debit card-enabled exchanges include:
Quidax is one of the exchanges that accepts debit and credit cards for the purchase of Bitcoin by its customers.
After months of testing, the company was launched in 2018.
Trade volume ranks it as one of Nigeria’s leading cryptocurrency exchanges.
For the purposes of this tutorial, I’ll be explaining how to purchase Bitcoin with a credit card or debit card.
How to Make a Deposit
To buy Bitcoin with a credit or debit card on quidax, you must first fund your naira wallet.
Go to Quidax and click ‘Create an Account’ or ‘Get Started’ to begin the process of creating an account. Go directly to step 4 if you already have a Quidax account.
- You fill out the registration form that appears on the screen. Upon completion, click ‘Create Account’.
To complete this step, you will receive an email with a verification link.
In order to begin a transaction, you will need to fund your wallet after passing the verification process.
If you already have an account, all you need to do is log in.
Step 5: To add money to your wallet, click on “Wallet” and you’ll be sent to the wallet page. Next, select the currency you wish to deposit in Naira, and finally click on the “Deposit” button to complete the transaction.
These are the deposit options:
Pay with USSD
Pay with barter
In this situation, the payment method will be ‘Card Payment.’
A screen is shown when you select “Card Payment” as the deposit option and enter the deposit amount.
The minimum and maximum deposit amounts are N200.00 and N10,000,000.
N500,000 is the maximum deposit each day.
Select “Pay” after you’ve entered all of your information.
7th and final step: After you’ve entered your credit card information, click ‘Pay’ to complete the transaction.
Deposits are subject to a 1.4 percent charge.
Your card issuer’s website appears on the screen, and you are redirected to their site from here. To proceed, click on the “Proceed” button.
A One-Time Passcode (OTP) will be issued to you by your bank, and you must enter it here. Submit by pressing the ‘Submit’ button.
You’ll see a page informing you that your deposit has been successful..
Redirected back to Quidax, where the money you’ve just deposited will show up in your wallet.’ Deposit History shows it as well.
I congratulate you!
You’ve just used your credit or debit card to add money to your wallet.
That wasn’t that difficult, now was it?
What better way to spend our money than to invest it in Bitcoin?
Steps to Buy Bitcoin
In order to buy Bitcoin, you will need to deposit funds into either the Instant Buy/Sell or the Exchange.
Let me start by noting that you will be charged a 1% fee when you use Instant Buy/Sell and 0.2% when you use the exchange to buy bitcoins.
To help you get started, below are the steps for purchasing Bitcoin through Instant Buy/Sell and then the Exchange.
I’ll be here if you stick around.
An Overview of Instant Buy/Bitcoin Sell’s Purchasing Process
The first step is to determine what you want to accomplish. Once logged in, click on the ‘Instant Buy/Sell’ button, and the ‘Buy or Sell Instantly’ page appears.
To buy BTC, you’ll enter the amount you’re willing to spend, the cryptocurrency you’re interested in, and the currency you’ll be using to pay for it.
On the page, you will also see the current price of 1 BTC and your total amount.
Click ‘Continue’ to proceed.
After completing the first two steps, you will be taken to the “Confirm Order” page, which displays the amount you are spending and the BTC equivalent of the amount you are putting in.
The fee for using the service.
The amount of BTC you’ll receive once the service fee has been subtracted from the total.
After double-checking, click the “Confirm Order” button to proceed.
If the price of your order changes during the time you’ve already placed it, you’ll get a notification like to that effect.
In the event that you do, don’t be afraid.
You have the option to re-confirm your order or cancel it by clicking ‘Requote Order’.
Allow some time for the transaction to complete.
Upon completion of your transaction, you will be contacted. The Bitcoin you purchased will be displayed in your wallet when you click on the “Go to Wallet” button.
As easy as 1, 2, 3.
To learn how to buy on the Exchange, continue reading.
Buying Bitcoin through the Exchange is outlined here.
For now, I’ll merely go over the processes involved in this process.
The following are the steps:
After logging in, select ‘Exchange’. To get to the trading platform.
To purchase BTC or NGN, go to ‘Markets’ and make your selection.
Take advantage of the Order Book and make your purchase. In the ‘Place Order’ area, you can see how the hierarchy is reflected in the final product.
Select “Buy BTC” from the drop-down menu in the “Place Order” area and enter the amount of money you want to spend.
When the transaction is complete, you can return to your ‘Wallet’ to see the Bitcoins you’ve purchased.
On Quidax, that’s how it works.
How much Bitcoin can I buy with my debit card?
Around $3,000 to $10,000 is typically the maximum amount that may be purchased from a standard crypto ATM. You’ll be required to contact the dealer if you want to purchase more than this.
And this is going to be the very last part…the part where you can officially loosen the seat belt