Bitcoin adoption: Growing pains and the need for regulation
While legislation and decentralisation might not go hand-in-hand, Bitcoin adoption might thrive with more regulation.
Bitcoin has become a hugely popular alternative investment. It might be volatile in price, but it still shows a whopping +6000% ROI (According to CoinMarketCap) since 2009, when it was released to the public.
Buying Bitcoin in Nigeria doesn’t need to be difficult. Coindirect makes it a smooth process for Nigerians to buy cryptocurrency using Nigerian Naira through numerous payment methods. This includes Nigerian credit card payments, international Visa/MasterCard credit card payments, bank transfers, mobile money and VISA QR payments.
There is also the option of buying Bitcoin on the platform’s marketplace from Nigerian sellers.
How to buy Bitcoin with a Credit Card in Nigeria:
- Sign Up for a free account (Log in if you are an existing customer)
- Go to your Bitcoin wallet and click on ‘Buy’
- Select ‘New Credit Card (NGN)’ from the drop-down menu
- Enter the value of Bitcoin you want to purchase in NGN or the Amount of BTC and click ‘Preview Buy’ to get a quote
- You will receive a quote. Press ‘confirm’ before the quote expires
- You will be redirected to a page to fill in your credit card details
- You will then go to a page to verify your transaction and be redirected to your Coindirect wallet. Your Wallet will be credited with the Bitcoin that you have just purchased.
Bitcoin is one of the 41 tokens offered on Coindirect. To choose a different token, simply follow the same process as above with your chosen cryptocurrency.
Credit card processing fees are 1.99% for “New credit card (NGN)”.