Nigeria is the fastest growing new Bitcoin economy because it lets them use their money without limits.
There are four main ways to buy bitcoins easily on Paxful.
- Many Nigerians prefer to buy bitcoins with iTunes Gift Cards. Check out our Tips on how you can sell your iTunes Gift card code for bitcoins here.
- Cash Deposit such as Western Union, MoneyGram and local Nigerian bank deposit. 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 ID will be required and rates are high.
- Credit/Debit, this is instant but ID will often be required and the rates can be very high as their is considerable risk to vendors who get paid this way.
- Gift Cards is instant and ID if not required yet the prices are be 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 with Western Union and Money Gram
- Search for Buying Bitcoin with Western Union or Buying Bitcoin with Money Gram
- Read the offer terms clearly and make sure the vendor as 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 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 there is too it, 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. Our customer support will happily help you figure it all out [email protected]