Does Coinbase Work in Nigeria?
A guide to Coinbase in Nigeria revealed. We tested and verified if Coinbase works in Nigeria.
This is a complete guide to Coinbase in Nigeria.
In this in-depth guide you’ll learn:
- What is Coinbase?
- Does Coinbase accept Nigerian debit cards?
- How to verify Coinbase in Nigeria?
- How to use Coinbase in Nigeria?
- Can you withdraw from Coinbase in Nigeria?
- How much do you need to deposit to invest on Coinbase in Nigeria?
And lots more…
So if you’re ready to go “all in” with the Coinbase in Nigeria…
Let’s dive right in…
- Louis Schoeman
Does Coinbase Work in Nigeria? (2023)
Does Coinbase Work in Nigeria?
👉 Yes, Coinbase works in Nigeria and 24 other countries within Africa.
👉 Coinbase is a reputable cryptocurrency platform that offers a wide range of exchange services to its esteemed clientele.
👉 Founded in 2012 by Brian Armstrong and Fred Ehrsam, the platform enables individuals to convert fiat currency to cryptocurrency seamlessly and facilitates the exchange of various cryptocurrencies among its users.
👉 Coinbase accepts 25 African countries, according to the official website, and has recently added Nigeria to the mix. However, Nigerians must note that Nigerian Naira is not an accepted fiat currency. Therefore, there are no NGN pairs or P2P platforms where Nigerians can exchange NGN for crypto assets.
👉 Coinbase Nigeria can be accessed via a mobile application, also known as Coinbase, and currently supports popular cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.
👉 Furthermore, Coinbase offers a user-friendly application for novice traders, allowing them to easily trade, sell, and store their respective cryptocurrencies.
How to Open an Account with Coinbase Nigeria?
👉 To register an account, Nigerians will need the following:
➡️ You need to be 18 years old to join. Coinbase is known to request documentation from its users.
➡️ An ID document issued by the government featuring a photograph. However, users in Nigeria should be aware that Coinbase does not recognize passport cards.
➡️ Internet access on a computer or mobile device
➡️ Your mobile phone’s associated phone number. Coinbase will send a verification code to the phone number provided; therefore, it is important for Nigerians to provide a real number.
➡️ The most up-to-date version of your browser or the most recent version of the Coinbase App. Ensure your phone’s operating system is updated before using the Coinbase app.
👉 Next, Nigerians can follow these steps to create a Coinbase Account:
➡️ Complete the online application by providing updated information regarding your name, email address, and state. Furthermore, Nigerians will be required to create a user-selected password.
➡️ Nigerians must read the Privacy Policy and User Agreement.
➡️ Nigerians can wait for the verification email to be sent to their inbox.
➡️ Traders can click the “Verify Email Address” link in the email and be redirected to the official Coinbase website.
➡️ Nigerians can sign in using their verified email address and password.
➡️ Next, Nigerians can verify their cellphone number by:
➡️ Selecting “Nigeria” from the list of countries.
➡️ Entering a valid phone number.
➡️ Clicking “Send Code” (if applying on a PC) or “Continue” (if applying on the app).
➡️ Enter the seven-digit code in the required field.
➡️ Click “Submit.”
➡️ Provide Comprehensive personal information such as First and Last Name, Date of Birth, and Residential address.
➡️ Answer the following questions:
➡️ “What do you use Coinbase for?”
➡️ “What is your source of funds?”
➡️ Provide the following details:
➡️ Current Occupation
➡️ Employer
➡️ Last digits of the SSN
➡️ Next, sign into your Coinbase account to complete your ID verification by:
➡️ Uploading a copy of your proof of identity.
➡️ Provide proof of your address.
➡️ Link a payment method to deposit funds and start trading.
Conclusion
👉 Coinbase accepts more than 100 worldwide countries. Furthermore, while Coinbase used to prohibit
👉 Nigerian citizens from registering an account and using its services, the exchange has added Nigeria to its “Supported Countries” page.
FAQ
Can I withdraw my cryptocurrencies from Coinbase to a local bank in Nigeria?
Yes, users in Nigeria can withdraw their cryptocurrencies from Coinbase to a local bank account. To do this, they need to link their bank account to their Coinbase account and initiate a withdrawal request. The processing time for a withdrawal may vary, and there may be fees associated with the transaction.
What are the fees for using Coinbase in Nigeria?
The fees for using Coinbase in Nigeria vary depending on the type of transaction. There may be fees for buying and selling cryptocurrencies, transferring funds, and other services. It is important to review the fee schedule on the Coinbase website before making any transactions.
How do I sign up for Coinbase in Nigeria?
To sign up for Coinbase in Nigeria, users need to visit the Coinbase website and create an account. This involves providing personal information, such as name, email address, and phone number. Users also need to complete a verification process, which may include providing government-issued identification.
How can I buy and sell cryptocurrencies on Coinbase in Nigeria?
To buy and sell cryptocurrencies on Coinbase in Nigeria, users need to have a funded Coinbase account. They can then use the platform to place orders for cryptocurrencies and track the current market price.
Is it safe to store cryptocurrencies on Coinbase in Nigeria?
Coinbase is considered a secure platform, as it implements various security measures, such as two-factor authentication and encryption. However, as with any platform, users should always take steps to secure their own accounts and protect their private information. It is recommended to regularly review and update security settings on Coinbase in Nigeria.
Top 3 Brokers
