If you are new to cryptocurrency, I suggest using the instant exchange feature of a trusted cryptocurrency exchange it is the fastest way to go.
Using an instant exchange is not restricted to new users, professional users can also use it. As it is faster and unlike when using an order book exchange you don’t have to wait for your order to be filled especially if you need to perform a quick transaction.
Here are the steps to buy/sell cryptocurrency
- Go to a cryptocurrency exchange and click ‘Create Account’ in the menu
- Fill in your details, verify your email via the link in your email
- Once you verify your email, your quidax account is open
However, at this stage you can only receive and send cryptocurrency, you won’t be unable to buy/sell with naira.
You will need to verify your identity just like at the bank. The next sets of step will guide you through the process
- Click on account and then ‘Verify identity’. Upload the documents requested and Submit. In less than 10 minutes your account will be verified. Once done you are good to go
- Click on Wallets, it will open to the Deposit tab showing your Naira wallet
- Select the method (Bank Deposit or Card Payment) you want to fund your wallet.
- Once your wallet is funded click on Instant Buy/Sell in the menu
- When the page loads Click on “Buy”.
- Then, select the currency you want to buy with.
- In the amount to spend, enter the amount for the currency you are buying with. Example: If you want to buy N50,000 worth of BTC, type 50,000 in that field. (Please, take note of the selected currency).
- You can alternatively switch to “amount to buy” using the double arrows to the right of that field. In this case, type in the amount of the asset you want to buy. Example: If you want to buy 0.5 BTC, type 0.5 in that field. (Please, take note of the selected currency).
- Confirm all the details.
- Click “Buy”