Where to Buy and Sell Bitcoins and Altcoins in Nigeria
For a while now you have been wondering where to buy and sell Bitcoins and Altcoins in Nigeria. The problem is that there are too many exchanges out there. And there is the issue of trust too. This is where NGexchanger comes in.
Who is NGexchanger, you ask? They are currently the leading and most trusted e-currency service provider in Nigeria. A subsidiary of a registered ICT company, Nyxel Integrated service, their main goal is to provide a reliable and affordable digital currency exchange service. The operations of NGexchanger can be summarized into three words; quick, easy and secure. This is the major reason why millions of Nigerians depend on their services.
The services offered by NGexchanger extends beyond the traditional buying and selling of Bitcoin and other altcoins. They also offer;
- Advise and Guidelines
- Instant Funding
- Provision of Bitcoin and Ethereum Wallet
However, the main service offered by this website that interests us right now, is cryptocurrency exchange. You are about to find out how to buy and sell Bitcoin and altcoins in Nigeria.
How to Buy and Sell Bitcoins and Altcoins
Follow the eight steps outlined below to buy and sell cryptocurrencies of NGexchanger.
#1. Sign Up
This is naturally the first step to take. You must create an account on the website before you can make any cryptocurrency transactions. This isn’t difficult, just find the sign-up icon when you scroll down the home page. Another option is to click on the “Buy Cryptocurrency” icon. The option of signing up would be offered to you. Click on it.
Next, you would be required to fill out a form which includes your Username, Email address and phone number. You’ll also be required to provide a secure password.
The other part of the form contains a section to provide your full name, home address and a captcha to ensure you are not a robot. You’ll also be required to select from different options how you found out about NGexchanger.
#2. Fund Your Account
Here is the thing, you can start transactions immediately after completing your registration. You have the option of funding and withdrawing from your account. However, there is a catch. If your account is unverified, you’ll have a funding limit of $1,000 per day. Please note that there is no such limit on withdrawals.
#3. Verify Your Account
This step is necessary if you want to remove the funding limit. The verification process is not difficult, all you have to do is, upload an ID that shows your full name and a utility to prove you address. Now, the ID had to be a government issued one. This include;
- International Passport
- Driving License
- National ID card
- Permanent Voter’s Card
As far as the utility bill is concerned, your electricity bill, water bill or bank statement should do. According to NGexchanger’s website, your verification process should be completed within 48 hours of uploading these documents.
However, if you don’t receive any response after this period, send a message to email@example.com.
#4. Select the Cryptocurrency
At this stage, you must have created a new account and logged in. Click on the “Buy” icon and pick digital currency you intend to purchase. You’ll also be required to input the amount in dollars. Next, you just have to paste the wallet address and click on “proceed”.
There is no maximum amount on transactions made. However, the minimum you can buy and sell on NGexchanger is $20. Also, they offer a refund service. But, you should read the refund policy before considering it.
#5. Confirm Your Transaction
When you click on the “Proceed” icon, a payment invoice should be generated. This contains the Transaction number, Bank information and the Transaction reference. The same information should be sent to your registered email. Click on the “Confirm” icon to confirm this transaction.
Please note that this transaction is not recorded/saved and not valid if you don’t confirm the transaction.
#6. Make Payment
Make your payment based on the method provided below. Then, login to the website to confirm your payment. This can be done by clicking on the “Send Alert” icon and inputting the order details. Your wallet should be funded as soon as your payment is confirmed. This usually happen within 30 minutes. Nevertheless, there are rare cases when it can be extended to as much as 24 hours.
This is usually due to a long transaction queue. But you can be sure that your wallet would be credited and you’ll receive an email to this effect. Check your Spam folder if you can’t find it in your inbox. However, if nothing happens after five hours, contact the support service.
How to Pay for Transactions on NGexchanger
In case you were wondering how to pay for the Bitcoins or altcoins that you are buying on NGexchanger, there is a technique to it. Don’t worry, it’s easy to understand, you just have to pay attention. Let’s get into it.
There are four basic methods of paying for transactions made on the website. These include’
- Cash Deposit
- ATM Transfer
There is a format of filling your teller if you are doing cash deposit. Where you are supposed to fill a depositor’s name, write your first name and your reference number. For example, a person called Ade, with a reference number of 208022 would have to fill the teller as;
With internet/Mobile/ATM Transfer, it gets easier. All you have to do is input your transaction number in the section labelled “Memo”, “Remark”, “Message” or “Purpose field provided” and you are good to go.
#7. Receive Your Cryptocurrency
When you buy and sell bitcoins and altcoins in Nigeria, you need to understand one thing; value and time. What does this mean, you ask? If you pay $100 for 100 Ripple and your transaction wasn’t attended on time (due to piled orders).
Within this waiting period, if the value of Ripple ordered drops from $1 to $0.5, you would be receiving twice the amount paid for. That’s 200 Ripple for $200. The same thing applies if the price rises. Have I confused you with too much math? Let me break it down into plain words.
You won’t be receiving an amount that is equal to the value of the coin when you paid for it. Rather, the value of the coin at the time your wallet or account is being credited is used to determine what you’ll be receiving.
#8. Refer Someone
This is the final step when you want to buy and sell bitcoins and altcoins in Nigeria. The website offers a referral program that makes you entitled to a specific percentage every time you refer a person who makes a successful buy order. You would be a fool not to take advantage of this opportunity.
How to Create a Bitcoin and Ethereum Wallet on NGexchanger
Now that you know how to buy and sell bitcoins and altcoins in Nigeria, there is one other thing you ought to know. That’s what we are about to discuss.
If you have been paying half an attention, you would note where I mentioned that you can create a Bitcoin and Ethereum wallet on the website. The process is pretty straight forward and can be summarized into four steps outlined below. Let’s get started.
Step 1: Log into Your Account
You should know by now how the process works. The first thing is always to login to your account. If you don’t have an account, there is no problem. You have the option of creating one. Just click on the sign-up icon. Proceed to the next step when you are logged in.
Step 2: Create Wallet
On the dashboard of your NGexchanger account you’ll find a “Wallets” icon, click on it. Next, click on create wallet to continue.
Step 3: Select Wallet Type
At this point, you’ll be offered two options of wallet; the Bitcoin and the Ethereum. If you are interested in the Bitcoin wallet, click on it. And if it’s the Ethereum wallet that catches your fancy, pick it. Finally, click on “Go to Wallet”.
Step 4: View Your Wallet Address
To see your wallet address, simply click on the “Receive BTC” icon. It’s this address that’ll make it possible for you to add Bitcoins into your wallet on Ngexchanger. The option of sending Bitcoin is also available if that’s what you wish to do.
You can start buying, selling and storing Bitcoin (or Ethereum) in no time. It’s that easy.
On a Final Note
Without a doubt, there are tons of exchanges out there; each of them claiming to provide different services. However, the key here is trustworthy. If you are interested in an exchange that you can trust to store your funds and where you can buy and sell Bitcoins and altcoins in Nigeria, NGexchanger is the right choice. There are tons of reviews that’ll help you confirm this.
Apart from the buying and selling of bitcoin and other cryptocoins, you can also enjoy great services which include an instant funding, including advice and guidelines on cryptocurrency trading. What’s more, the two-factor verification ensures that you can go to sleep knowing that your account is secure.
The working period is between 8:00 AM and 8:00 PM from Mondays till Thursdays. The same hours apply during public holidays.
Contact them here, you won’t be disappointed.