How to buy bitcoin with an ATM card in Nigeria
buy bitcoin with an ATM card: The crypto market has grown exponentially since Bitcoin was launched in 2009. Since Blockchain technology, which powers it, has expanded into other sectors of the economy, the market has grown wider.
In today’s economy, Blockchain is being used in a variety of sectors, including health, government, banking, and finance. There is, however, more to this growth than just technology.
In recent years, several cryptocurrencies have emerged, each addressing a unique problem or contingency. Additionally, there have been rumors that cryptocurrencies, particularly bitcoin, can eventually replace fiat currencies as a means of conducting day-to-day business. The validity of these rumors has not been established in practice. Several theories, however, suggest that it will happen. Several businesses have begun accepting bitcoin payments, which is a major step toward the world economy currency.
buy bitcoin with an ATM card
Because of this, several investors, businesses, and individuals have chosen to invest and transact in bitcoin. The ease of sending money home to friends and family is particularly noticeable among Nigerians. It is not necessary to have a credit card or a household account to use a bitcoin account. Online business owners or those who conduct online transactions have an incredible opportunity to transfer and transact seamlessly with a system outside the regulation of the central bank. Creating a bitcoin wallet account, however, is required for the service.
Steps to create Bitcoin Wallet
These are the steps to follow if you want to create a bitcoin wallet, especially if you don’t already have one:
Step 1: Visit blockchain.com
Start by visiting www.blockchain.info/wallet to create your bitcoin wallet. Cryptocurrency wallets such as Blockchain are the most popular, and they are tested, secure, and trusted. Click “Sign Up” or “Get Started” when you get to the page.
Step 2: Signup
The first step is to input your email address, password, and password confirmation (make sure you use a combination of letters and numbers in your password). Click “Continue” once you’ve agreed to the terms of service.
Step 3: Verify your account registration in your mail.
Go Open the email you received from Blockchain if you signed up using your email address. Your email address will be automatically verified when you click on the “Verify email” button. Once your email address has been verified, you will automatically be redirected to a page showing that it has been verified.
Step 4: Setup your Bitcoin Wallet
Log in to your blockchain account after you’ve verified your email address.
The following page will appear after logging in. If you are here, that means you have set up a bitcoin wallet. From the left-hand side of your screen, click on “Bitcoin.” Once you have selected Private wallet (receive), click on it. There you will find your bitcoin address.
Step 5: Fund Your Bitcoin Wallet
There are several ways you can fund your bitcoin wallet. The following are some of them:
- Buy from people
If you prefer, you can find someone who has bitcoins in his account and send him a payment in exchange for them. You will receive the requested dollar amount in your bitcoin wallet ID when the owner of the bitcoin account enters it.
It is the opposite of that you need to do when you want to convert bitcoins into Nigerian naira. You must contact a vendor or trading platform such as DartAfrica to set up your exchange.
- Receive as a gift or as payment for services
Another method of acquiring bitcoin is through exchanges. Bitcoin can be used as a payment method for your services. It is also possible to receive bitcoin as a gift from anywhere in the world.
How to buy bitcoin with an ATM card in Nigeria.
The methods of buying bitcoin have been highlighted above. However, it can be expanded to other channels. One of these channels is the use of ATM cards to purchase bitcoin.
This is not a conventional method, as scarcely few people know about it. The method is very straightforward but needs to be done carefully.
To use your ATM card to purchase bitcoin means you’re purchasing bitcoin from an established Web platform that offers the service. DartAfrica is a platform that allows you to sell your bitcoin only, so it’s not an example of these platforms. Once you identify a platform that allows you to buy bitcoin online, then there is a possibility of using your ATM card to make the purchase.
If you’ve found a platform like that, follow the steps on the platform to buy bitcoin. When it comes to choosing the mode of payment, choose “Debit card.” There are three types of debit cards in Nigeria – MasterCard, Visa, and Verve cards. Make sure to see the requirements of the type of debit card the platform uses. Then, you make payments with it. It’s preferable if you use MasterCard, as it is fast and generally accepted worldwide.
If you’re using a Mastercard, you’ll be asked to pick between a hardware token and a software token. If you don’t have a hardware token, kindly choose the software token option. The token will be sent by SMS to the phone number you used to register your Mastercard, and that settles the transaction.
Purchasing bitcoin with an ATM card is amazing, especially with the recent monetary policy in Nigeria. Also, be sure to check out the platform you’ll be using well before making the purchase.