Bitcoin is quickly gaining popularity in Nigeria as a means of exchanging value for goods and services.
There are several reasons for this, the most important of which is that it is simple to use and extremely private.
More merchants in Nigeria are accepting bitcoin these days than ever before, so if you’ve ever wondered how to pay for things with bitcoin in Nigeria, this guide will help you get started.
Paying for things with bitcoin in Nigeria is super easy. All you have to do is follow these four simple steps:
- Set up your bitcoin wallet
- Get some bitcoin
- Find out if the vendor takes bitcoin
- Make the payment
Let’s take them one by one to show you exactly how to pay for things with bitcoin in Nigeria.
The first thing you should do is create a bitcoin wallet. Think of it as a virtual wallet similar to the one you use to store your physical currency in any Nigerian bank.
It will function as a bank account into which you can deposit, send, and receive funds in Nigeria.
Look online to see which wallet best suits your needs.
Many of the best wallets work on both your laptop and your smartphone, making it easier than ever to keep track of your bitcoin in Nigeria.
All you have to do now is create an account and you’re ready to go.
After that, you’ll need to get some bitcoin before you can make any payment in Nigeria using bitcoin.
Bitcoin can be purchased with a credit or debit card online or through a variety of other methods including peer-to-peer trading on platforms like Binance.
Many people in Nigeria prefer to diversify their bitcoin sources, so having a few different monetary options is a good idea.
How to get your bitcoin in Nigeria
- Buy them online
- Earn them through airdrops and online games or surveys
Many major retailers in Nigeria now accept cryptocurrency payments, so it’s more a question of who doesn’t than who does.
You can still check online to see if your preferred vendor in Nigeria accepts bitcoin as a payment method.
There are many lists available online that detail all of the major merchants who accept cryptocurrency in Nigeria.
You can also go directly to their website if you prefer.
When it’s time to pay, all you have to do is copy the vendor’s bitcoin address and paste it into a designated field in your wallet.
After that, enter the number of bitcoins you want to send and hit the payment key.
Your bitcoins will be delivered almost instantly.
That’s all there is to it!
People in Nigeria can also send you bitcoin using the same method, and you will be able to see your bitcoin right away.
These four simple tips above are ways you can pay for things with bitcoin in Nigeria. Let’s recap. First, get your wallet, then get some bitcoin. After that, check if your vendor accepts bitcoin and finally if they do, make the payment. That’s it.