Buy and Sell Bitcoin (BTC) in Nigeria Protect your money from the falling Naira and secure your currency in Bitcoin. Buy Bitcoin with any payment option including Amazon Gift Card, iTunes Gift Card and Bank transfer! Over Bitcoin already sold in Nigeria! Jul 07, · Another best exchange to buy and sell bitcoin in Nigeria for as low as N startup capital is roqqu. Roqqu offers a newbie-friendly easy to navigate user interface. That means a total newbie can scale through the process of selling Bitcoin or to buy Bitcoin in Nigeria. Local Bitcoins is a great option for buying and selling Bitcoin in Nigeria using a variety of payment methods. From the looks of it, bank transfers are especially popular in Nigeria. Once a deal is opened, the seller will fund the escrow wallet with the Bitcoin to be bought.
Bitcoin buy in nigeriaHow to Buy Cryptocurrency: 5 Steps to Get Coins ()
There has been no data breaches or anything of the sort so far. However, there is always a chance of your information being used, so it is important to be aware that it is possible. The fees associated with this method are higher than a credit or debit card, but it certainly is possible. To learn more, check out our in-depth guide to buying Bitcoin with Paypal. The exchange CEX. Due to issues with liquidity and regulations, it is difficult for exchanges to offer altcoins directly for fiat.
To get around this, just buy Bitcoin first, and send the purchased Bitcoin to crypto to crypto exchange like Binance to buy alt-coins. This is up to you and depends on how much experience you have trading, and how much you are willing to risk when trading.
There is definitely some serious gains that can be made if done properly. This will really depend on the country you reside in, which coins you traded, and whether you profited or loss. For more information on cryptocurrency taxes and your different software options, check out our guide!
Growing up in the United States, I have vivid memories of friends approaching me around asking me how to buy Bitcoin. One of these methods required purchasing an in-game currency from the video game Second Life, before converting that into Bitcoin. Non-profit organizations like Coincenter are dedicated to being cryptocurrencies voice to the US government.
I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity…. For the most part, any exchange or brokerage mentioned in this guide while working in all states.
This is a very easy method to purchase crypto because ATMs do not ask for sensitive information or private data. Instead, you need to pay higher fees than doing it via a crypto exchange. But, to find a crypto ATM that works at all times and has low fees is quite a problem. Additionally, the ATM may be located in central areas, leaving those in smaller cities without the chance of buying and purchasing virtual currencies. New York receives a lot of attention in txhe cryptocurrency world due to the well known BitLicense.
In July , the state released the license making it slightly more difficult for companies to operate in the virtual currency space.
Let alone all of the different paper and legal work that goes into it. While the legislation makes it much more difficult for new businesses to operate with crypto in New York, all of the options here are certainly able to. Most readers will find the most success with Coinbase. This guide will cover how to purchase crypto in Singapore with all payment methods imaginable. The number of crypto automated teller machines ATMs has grown exponentially over the past few years thanks to the rising popularity of the cryptocurrency.
So a crypto ATM gives users a fast and easy way of getting their hands on the cryptocurrency as they can skip the sign-up and verification process. All that you need is a safe and secure wallet where the ATM will send the digital currency. But this convenience comes at the cost of high transaction fees that reportedly average as high as 8. Still, the fees are high when compared to an exchange such as Gemini.
So, even though crypto buyers in Singapore have an alternate method of buying crypto, they should consider taking the pain of signing up and verifying on an exchange to buy the digital currency and avoid high transaction fees. Additionally, the Inland Revenue Authority of Singapore views crypto not as a currency but as goods, so anyone transacting using the same has to pay goods and services tax. However, Singaporeans interested in buying crypto for making peer-to-peer payments, or as a means of investment, can easily get their hands on the cryptocurrency thanks to a range of options.
In May , digital asset banknote maker Tangem launched smart Bitcoin banknotes in Singapore with an aim of making the ownership and circulation of the cryptocurrency more mainstream in nature.
These notes are available in denominations of 0. Of course, buyers will have to load Bitcoin into the banknote from their wallet, but anyone looking to buy Bitcoin can simply buy a Tangem banknote from someone who already holds it. Tangem claims that its tamper-proof chip technology will prevent the banknotes from hacker attacks. Users simply need to touch the banknote using a smartphone with NFC capability to find out if it holds valid Bitcoin.
If it does, the user can simply pay an equivalent amount in fiat currency to the banknote holder to buy their Bitcoin.
More importantly, Tangem was aiming to circulate 1 million banknotes by the third quarter of so that they can be used just like physical cash at retail chains and convenience stores. In the end, it can be concluded that there are both traditional and innovative ways to buy crypto in Singapore that users can choose from, depending on a variety of factors such as associated costs, convenience, and availability.
Switzerland has been known to be one of the most innovative countries surrounding the financial space. In December of , the Swiss government released a legal framework for Blockchain companies to operate in the country. One of the most private ways to purchase Crypto is via a crypto ATM. A majority of these take place in Geneva, Zurich, and Bern. Absolutely, back in August of , Switzerland approved a crypto Bank, albeit with strict regulations.
Cryptocurrency is not considered legal tender in Switzerland, but that is pretty consistent with other countries stances. From what we can tell, any gains from crypto are subject to the Swiss capital gains tax law. Profit earned from Bitcoin mining or other activities are counted as income. Back in , the Indonesian government banned Bitcoin as a means of payment. Overall, crypto is still completely legal in the country, and available on local Indonesian exchanges as well as some other global options.
CoinRadar is a site that lists ATMs around the world, so double check there to see if anything has changed. This might be a quick and easy alternative for investors staying in Bali. However, the purchase fees are higher when using an ATM as you are required to pay an extra 3 percent. Like most places in the world, yes. We recommend speaking with a tax professional specific to your situation. For more info on software that helps with cryptocurrency tax, check out our list of the best cryptocurrency tax software options.
It also looks like the overall attitude of the Indonesian government towards cryptocurrencies might be negative considering their recent ban on payments expressed in cryptocurrencies. However as an Indonesian trader, you are still very much permitted to have your own crypto assets; buy, sell, and hold them. Between all the different options for purchasing crypto , we know it can be tricky when deciding which Bitcoin exchange or brokerage to use. Crypto ATMs are recommended in a lot of our guides, as they are the best way to buy crypto with cash if privacy is your main concern.
There are special licenses from the Thai government for allowing businesses to operate with cryptocurrency. The Thai government has received some criticism for not adapting quickly enough to the rapidly changing cryptocurrency environment, but they are attempting to change this. We always recommend that you speak to a tax professional in your jurisdiction to make sure they are being done correctly. Also, there is plenty of cryptocurrency tax software out there to aid you in your tax efforts.
Crypto has gained a lot of interest in South Africa, as its currency is no stranger to inflation , one of the best use cases for Bitcoin and cryptocurrency. In May of , the South African financial regulators published around 30 recommendations of how the currency and exchanges should be regulated in the country. They often allow cash as a payment method, making them great for more private transactions.
As you probably guessed, absolutely. Bitcoin and other cryptocurrencies are taxed as financial instruments in South Africa. To learn more about the exact cryptocurrency tax situation in South Africa, we recommend speaking with a tax professional in your area. Once you understand how they are taxed in your country, we highly recommend checking out cryptocurrency tax software to aggregate all your trading data and calculate tax for you.
There is no explicit law banning the use of cryptocurrencies in the country. Although the current cryptocurrency plane is SA is unregulated, the government has made specific steps to offer as much legal support as possible. For example, you should know cryptocurrency trade is also subject to taxation laws in South Africa. It is thus advisable for a cryptocurrency trader in the country to hire a professional tax consultant to ensure they are tax compliant.
Since cryptocurrency earnings might be subjected to tax in South Africa, can you get legal recourse if the need arises? Probably no. South African Reserve Bank SARS has made it a point to warn its citizens that they are at their own risks should they trade Bitcoin or other cryptocurrencies.
The government is, however, working on a legal framework to support virtual assets in the country. According to Google Trends, Bitcoin-related searched are some of the highest in the world in Nigeria. Below you can view Bitcoin trading volumes in Nigeria , on one of the exchanges we mention in this guide: LocalBitcoins.
We are struggling to find out information on whether to not crypto is taxed in Nigeria. We recommend speaking to a qualified tax professional in your country to learn the best course of action. This is common in many countries as the governments are still looking for ways to regulate the currency.
Here in , buying crypto in New Zealand has never been easier. There are many exchanges to chose from. The exchange closed and is currently undergoing bankruptcy. Luckily, exchanges today are much more trustworthy and easier to use. Creating an account, getting verified, and buying cryptocurrencies can take less than 24 hours. There is no exact answer, as depending on the payment method certain exchanges will be better than others. However, Coinbase and Kraken are two great options for buying crypto in New Zealand.
However, New Zealand does not recognize bitcoin and other cryptocurrencies as money. You cannot use cryptocurrencies to pay taxes. The IRD classifies cryptocurrency as property. There are no special tax rules for cryptocurrencies—ordinary tax rules apply. This when you need to pay taxes on your cryptocurrency.
Common taxable events include: — Selling cryptocurrency on an exchange — Trading your cryptocurrency from one type to another type ie. Bitcoin to Ethereum — Using cryptocurrencies to purchase goods and services — Mining activities. You cannot convert your crypto into cash or vice versa directly via a bank.
You will need to register with a cryptocurrency exchange. Customer support, reputation, and ease of use are the most important factors to consider when selecting an exchange.
Newcomers: Coinbase — For those who want quick and easy access to cryptocurrencies. Advanced Traders: Kraken — For more experienced traders who want advanced trading tools and sophisticated trading products.
As recently as April , the Japanese government rolled out even more legislation surrounding crypto and cryptocurrency in the country. If you do know of one in Japan, leave a comment below! As always, consult a tax professional in your location to get the best advice. Japan has one of the most positive and welcoming climates for crypto and cryptocurrencies, and it is no coincidence that it leads many other countries in blockchain startups.
The anonymous founder of Bitcoin—Satoshi Nakamoto—sports a Japanese name, which suggests Japanese roots, but the embracing nature of Japan towards cryptocurrencies goes far beyond sharing filial roots with a mysterious founder. In April , the Japanese government released a directive that listed Bitcoin and other cryptocurrencies as a legal property that is listed on the Payment Service Act.
Japan has suffered some of the most high profile of attacks in the crypto space, and the earliest too. The Mt. By getting involved even when Bitcoin had little value, Mt Gox grew very quickly to be the major exchange in the world, and its successful hack shocked and took the crypto community by surprise.
On closer inspection, however, no one should have been shocked, and Mt. Gox had had it coming for a long while. Formerly, a game hub, its conversion to an exchange handling millions of transactions ensured it grew big with ever-increasing security loopholes. As a matter of fact, after Mt Gox, Japan had lost close to a billion-dollar worth of coins. With all these losses, is it safe to buy and store your cryptocurrencies in Japan exchanges? It never probably is a hundred percent, it is much safer to store your coins in personal and cold wallets.
The recent strict regulations imposed by the FSA to tighten cybersecurity could be an excellent stroke to tighten security shortly, and with growing involvement by Japan regulatory bodies, the cryptocurrency industry is only getting safer by the day.
Located in the European Union, Italy and many others have developed several laws surrounding the regulation of crypto in the country. Crypto trading to more than 1. Italy also has a lot of crypto ATMs — 59, to be exact — mostly in the north of the country. As you could probably guess, crypto is certainly taxable in Italy.
Have you ever known a government to not take tax wherever they can? In , the European Union passed a law stating crypto to fiat transactions incur no tax. Absolutely, crypto is completely legal in Italy. The Italian government has dealt a fair amount of legislation grouping cryptocurrencies.
Buying Bitcoin directly from an exchange is definitely your best bet. India as a country has taken pretty kindly to crypto as the country is no stranger to currency issues. Back in , the Indian government announced the demonetization of the and Rupee bills. This was a pretty controversial move by the Indian government and led to many citizens becoming even more in favor of cryptocurrency.
Due to the mass movement towards technological innovation, the Indian government took a regulatory stance towards cryptocurrency and claimed to lay down a ban on Bitcoin or other cryptocurrencies. Many cryptocurrency companies are licensed to operate in the country. For assistance with that, we recommend learning more about cryptocurrency tax software. A recent Israeli court ruling supported the stance that crypto is legal in Israel. Like most places, Israel does not consider crypto to be legal tender , but citizens are certainly allowed to own and hold a cryptocurrency.
To help with taxes, we definitely recommend our guide on cryptocurrency tax software. There are several exchanges to choose from in France and the rest of the European Union.
To learn more about crypto ATMs, check out this map. Two great fundamental analysis indicators we can use are crypto trends volume as well as LocalBitcoins trading volume. According to Google Trends search data, the search behavior for crypto in France is pretty consistent with price spikes.
Read this guide to learn more about cryptocurrency tax law in France. For some information about cryptocurrency tax software , check out our roundup review.
This will lead to a 6. Their official blog has a helpful post outlining the differences between Bitcoin and Perfect Money for those unfamiliar with both e-currencies. Luno was originally launched as BitX in and since then it has grown to be a player in some niche markets around the world. Deriving most of its volume from South Africa, Luno is also popular in Nigeria and has recently expanded to service Bitcoiners in Uganda too. Add to this list Europe, Indonesia, and Malaysia, and you've got yourself an exchange worth considering.
Luno aims to provide a competing service to Coinbase , and has made its offerings available in many countries not served by the larger exchange. Since our original in-depth review of Luno , they've added support for Litecoin , which along with Bitcoin, Ethereum, and XRP are available for trading.
Notably, Luno allows you to purchase crypto using a credit card. You can deposit and withdraw directly to a bank account. Luno also offers Paystack and PayU deposits for Nigerian customers. These fees are very competitive compared to other exchanges. This puts it in rd place out of in Nomics' review of exchanges by liquidity and transparency.
Luno boasts a clean trading interface in the same style as most, meaning you shouldn't have much trouble switching over from a different exchange. You can trade on the Luno app, which is available for iOS and Android. More advanced features include API integration for automated trading, liquidity depth indicators, and the ability to export your trade history in a.
Local Bitcoins is a great option for buying and selling Bitcoin in Nigeria using a variety of payment methods. Once a deal is opened, the seller will fund the escrow wallet with the Bitcoin to be bought.
The buyer will transfer the money and once the seller confirms receipt they will release the BTC. Should there be any disagreement, the BTC will stay locked in escrow until a solution is found, which may require LocalBitcoins stepping in to act as mediators. These events are run by local experts and aim to educate and raise awareness about Bitcoin and blockchain.
Complementing its education program, Binance has also made it easier than ever for Nigerians to buy, sell, and trade crypto on its platform. You can now deposit NGN directly into your Binance account using a credit or debit card, following a partnership with Flutterwave. In Sub-Saharan Africa, about 95 million people remain unbanked while many regions in the area, including Nigeria, have embraced new technologies with an increasing amount of innovation.
Working with Flutterwave will help bridge the fiat-to-cryptocurrency gap and we hope to stimulate more financial inclusion as Africa demonstrates strong potential in leading crypto adoption. In addition to allowing users to buy Bitcoin with a debit or credit card, Binance also has a peer-to-peer P2P marketplace, similar to Paxful or LocalBitcoins.
The price you see is the price you get. Binance has a useful support guide for P2P trading here. Binance's strong advocacy programs and the fact that it makes an effort to cater to under-served users who can most benefit from Bitcoin means that the exchange stands out from the pack. The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use.
Atomic wallet is a multicurrency mobile wallet with a beautiful interface and easy to use features. Since , Etoro has been democratizing traditional money management in order to open the financial markets to everyone, everywhere. Customers may withdraw funds from their Etoro account at any time, and without fees from the platform though charges from your bank may apply. Kraken is the world's largest Bitcoin exchange in terms of both total volume and liquidity and accepts almost every type of bank or wire transfer as a funding method.
Kraken Pro provides individual investors with real-time trading and charting tools. Coinmama specializes in selling Bitcoin and cryptocurrencies instantly with a credit card, or with bank transfer and is one of the most popular exchanges in the world. Paybis is a digital and cryptocurrency exchange that specializes in fast and reliable transactions while providing a large number of payment options.
Bittrex is one of the largest cryptocurrency trading platforms in existence and serves customers all over the world. Bitit is developed, hosted, and regulated in Paris, France. Paxful is a person-to-person marketplace that supports over payment methods. Changelly is an instant cryptocurrency exchange which supplies the best live rates on the market for every pair.
The interface is colorful and simple to manage, and transactions are performed instantly. NairaEx is Nigeria's premier bitcoin exchange. If you value your security as a trader, then Bitsquare is the perfect bitcoin trading platform especially if you love remaining anonymous. Abra is an all-in-one cryptocurrency wallet and exchange app available on both iOS and Android platforms. International Abra users can see all 54 fiat currencies. Finding a Bitcoin ATM is a great way to buy bitcoin instantly if you have cash on hand.
There is a Bitcoin ATM in every region of the world. As of January , the Central Bank of Nigeria has publicly stated that bank transactions in bitcoin and other cryptocurrencies are banned.
Transitioning from bitcoin to Naira and back has never been easier and multifaceted than it is today. Yellowcard is a financial services company located in Lagos that is empowering individuals with equal access to global markets and commerce.
With Yellowcard, customers can spend and transact in cash and also exchange, send and receive bitcoin instantly and seamlessly. Yellowcard is also making it easy for people to sign up as merchants and sell bitcoin in-store using the Yellowcard network. You can sign up for Yellowcard on their web app or on Google Play. GigaLayer is a web hosting company based in Lagos, Nigeria serving the entire country of Africa and accepts bitcoin in exchange for its services. Regal Flowers , a flower delivery service based in the heart of Lagos, Nigeria, accepts bitcoin as a payment method.