There has been a huge increase in cryptocurrency in Nigeria. Nigeria is one of the most prominent countries in the Bitcoin marketplace among the African continent. Over 250 million of its citizens engage in crypto currency exchange and this has constitute to the fundamentals such as the drop in the country’s fiat currency and to the change of a young new tech-savvy population. Presently, in the international crypto adoption, Nigeria has been ranked 6th.
The recent increase in the engagement in crypto trade has not been disregarded by Nigerian regulators. Early this year, the country placed a ban disallowing financial institutions from engaging in crypto currency exchange. However, these limitations has not stopped Nigerians from buying, selling and trading with Bitcoin. Here is an aid on how to exchange Bitcoin in Nigeria and the methods of payment available.
Using credit card has been one of the ways that still validates as the most popular most convenient method so far. Nevertheless, with the crypto ban by CBN, Nigerians cannot longer use this method to purchase and exchange Bitcoin. But, you can use MasterCard credit cards and International Visa. This also means that you will be charged extra fees compared to using credit cards to process payments. This ban also applied to the use of debit cards but as stated earlier, you can also use International Visa and MasterCard Debit Cards to carry out your transactions. However, unlike Credit cards, debit cards do not require higher charges. Other Nigerians have also resort to using direct bank transfer or finding a local Bitcoin vendor who would be willing to accept cash. This method is a bit less cost effective since it is direct purchase.
Nevertheless, with several innovations on how to make crypto currency transactions easier through technological means, the PAED app has been birthed. It is an app where you can buy your Bitcoin in less than few minutes without any hitch. Also, it is easy to use as its features are made user-friendly. However, you might be wondering on the safety of your transactions. Well, the PAED App has been developed by sound minds who put first the safety standards and regulations in order to meet the need of their users. For easy access, it has been made available on Google Play Store and it is compatible with both Android and iOS. It is cost effective so while trading with the PAED App.