How to buy cryptocurrency in Nigeria after CBN lift ban

On December 22, 2023, the Central Bank of Nigeria lifted the ban it placed on Cryptocurrencies in Nigeria. According to Reuters, it implies that cryptocurrency can now be acquired using any Nigerian bank account. Remember that in February 2021 the CBN banned the use of bank accounts for cryptocurrency citing security issues. As a result, individuals use peer-to-peer trading platforms to buy and sell their cryptos and other digital coins. 

To buy or sell any of the cryptos including Bitcoin, Ethereum, fun token and so on Binance happens to be the best platform. However, other platforms are available such as Remitano and Patricia. With this platform, you can know the current Bitcoin and other digital currency prices. To buy or sell digital assets on the above-mentioned platforms you must register first. You will be asked to complete some KYC information as well. We will demonstrate this using Remitano.

How to buy cryptocurrency in Remitano

The first step is to register with the Remitano platform using their website Remitano.ng.

You will need your email to complete the registration. Upon registration, you will need to verify your account as the second step.

There are five levels of verification which is done from one level to another and it is not possible to perform all levels immediately. For example, at level 5 you must have completed a considerable amount of trade on the Remitano platform before you can verify it. 

After you complete the phone number verification you can start trading cryptocurrencies that are available on the platform. However, you will need to verify other levels to enjoy their benefits.

Remitano requires you to be trustworthy in using their platform. Whenever you trade, the person you trade with will give a review or feedback about you. Good feedback will boost your trustworthiness on the platform. 

Available digital assets to trade on Remitano

You can trade with popular crypto assets on the platform. This includes Bitcoin, Bitcoin Cash, Ethereum, Shiba Inu, FTM, among others. To know the available digital currencies you can trade on Remitano, go to the menu and click on the wallet. There, you will find the lists of all available cryptocurrencies to trade on.