How to buy Bitcoin/Cryptocurrency using Bank Deposit in Nigeria

The first question one might ask is why should I use Bank Deposit when I can use a debit card to buy bitcoin in Nigeria? That’s a great question to ask. Due to restrictions on your bank card you might be restricted to maximum of 500,000 naira per transaction (depending on your bank limit).

Hence, in a case where you want to deposit more than 500,000 naira in one transaction,  you will need to use the Bank Deposit option. Below are the steps to get you on the way to buying Bitcoin/Cryptocurrency using Bank Deposit in Nigeria.

• The first step is to create an account and verify your identity on Quidax (this is why you should use Quidax)

• Click on “Wallets” in the website menu, once you have verified your identity

• Select the “Bank Deposit” option

• Type the amount to deposit and click submit

• Use the ‘DEPOSIT REFERENCE CODE’ as your transaction summary/description when you want to deposit as this will help  facilitate confirmation of your deposit

• Once you have made the transfer, the amount you deposited should be in your Quidax wallet within 15 -35 minutes or less.

• After you have done that you can use the instant buy and sell feature to buy bitcoin or any cryptocurrency asset of your choice.