Blockchain: How To Invest In Ethereum In Nigeria

Blockchain: How To Invest In Ethereum In Nigeria

Ethereum ranks among the top five (5) cryptocurrencies in Nigeria to invest in apart from bitcoin – the most popular cryptocurrency globally.

In this article, we will be showing you ways to invest in ethereum or ether or ETH in Nigeria naira.

The high interest in bitcoin has led to many spilling into ethereum, and the interest continues to grow steadily.

One thing to note is that before you can buy ethereum in Nigeria, you would need to go through an exchange or an online broker.

Next, you would go get a crypto wallet that is unique to you so you can perform your transactions through that wallet and store your cryptocurrency in it.

READ ALSO: An In-Depth Guide To Bitcoin; Buying, Selling

What Is A Crypto Wallet Address?

The cryptocurrency wallet works just like the traditional email address; the only difference is that with your wallet, you can make purchases and receive payments.

Once you have your wallet downloaded, you can access it through any device including your desktop, laptop, and mobile device.

How To Buy Ethereum In Nigeria

Before you can start your investment in ethereum, it is important that you find a cryptocurrency exchange that is available to Nigerians.

There are two options available when it comes down to making a choice in your ethereum investment and they include:

  • Buying and selling contracts for difference on ETH or;
  • Registering for a cryptocurrency exchange and obtaining a crypto wallet.

If you choose to follow the first step, this is what you need to know: you can sign up with a cryptocurrency CFD broker without needing to get a wallet.

READ ALSO: Crude Oil, Natural Gas Tops Nigeria’s Exported Commodities In Q4, 2020 – NBS

Opening An Account With a Cryptocurrency Exchange

There are cryptocurrency wallets that are tailored to Nigerian users, with international exchanges accommodating accounts from Nigeria.

The following are a list of exchanges that accept Nigerian accounts or are based in Nigeria:

  • Robinhood;
  • Coinbase;
  • Gemini;
  • Etoro;
  • Coinmama;
  • Voyager;
  • BlockFi;

Having a Cryptocurrency Wallet

Cryptocurrency wallets are important if you want to wield control of your cryrpto account, making withdrawals or performing other transactions.

Below are popular wallets that are available in Nigeria for ethereum:

  • MyEtherWallet
  • Metamask
  • Coinomi
  • Bitfi

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