Investing in Ethereum is almost the same as investing in other cryptos, if you are thinking of how to buy Ethereum in Nigeria, this guide is sure to help you. In this guide, you will discover how to buy ether (ETH) in Nigeria with Naira.
What is Ethereum?
Ethereum is a decentralized, open-source blockchain with smart contract functionality. Ether (ETH) is the native cryptocurrency of the platform. After Bitcoin, it is the largest cryptocurrency by market capitalization. It is the most actively used blockchain.
Buying Ethereum in Nigeria
If you want to buy Ethereum (ETH) in Nigeria, you need to have access to a crypto exchange that allows you to buy, sell and trade Ethereum in Nigeria safely, There are a ton of cryptocurrency exchanges out there, ranging from easy-to-use systems to complex dashboards for crypto traders. But we recommend sticking to the ones that are easy to use with a lot of features. In this guide, we will make use of Bitmama exchange – one of the best crypto exchanges you can use to buy Ethereum in Nigeria. On Bitmama, you will be able to buy, sell and trade your Ethereum. You can also swap Ethereum for other stablecoins listed on the exchange, and use it to fund your crypto card on your account.
How to Buy Ethereum in Nigeria using Bitmama
In this step-by-step guide, we will use the Bitmama app and web app to illustrate how to easily buy your Ethereum in Nigeria. The Bitmama app is easy to use and you can start buying in a few steps once you are signed up.
Using the web application
To buy ETH on Bitmama, you have to register on the exchange and complete your verification procedure. Once completed, you are ready to go.
2. Follow the steps above for signing up. If you have an account already, just sign in.
3. Access the homepage, click the ‘’Buy’’ Button and set the currency to ETH.
4. Choose the amount in NGN that you wish to buy. There’s a set amount you can choose on the screen.
5. Select your desired payment method. You can directly use your debit or credit card or fund the Bitmama Naira wallet first.
6. After you have reviewed the order, click ‘Buy Now.’
After you have bought ETH, you can move your asset across different Ethereum wallets on different platforms. Bitmama also allows you to hold, sell or swap ETH to another coin securely.
Reasons to buy Ethereum
Ethereum is the second-largest cryptocurrency by volume, but its many uses can create a much larger learning curve for new investors than Bitcoin. Here are reasons why you should buy Ethereum:
Ethereum allows you to own the “building blocks” of the crypto ecosystem.
2. Its transition to proof-of-stake (PoS) will make it far more environmentally friendly.
3. The growth of NFTs boosts Ethereum’s transaction volume.
To buy and sell Ethereum’s Ether (ETH) cryptocurrency in Nigeria is very easy using crypto exchange platforms. The cryptocurrency space is certainly a volatile one to begin with. Investors intrigued by what the cryptocurrency space has to offer may want to give Ethereum a look. After all, this is one of the most robust and open platforms upon which so much of the crypto ecosystem is built.