How to buy Algorand with NGN in Nigeria

If you want to buy Algorand but don`t know how to start, you`ve come to the right place.

Here you will find our easy-to-follow step-by-step guide on how to buy Algorand in Nigeria with NGN.

ALGO / NGN exchange rate for today

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Table of Contents

The Benefits of Algorand

  • Algorand originally envisioned not just as a cryptocurrency but something that could track things like titles to property and their sale, and a platform for smart contracts.
  • One thing that makes Algorand unique is its use of pure-proof-of-stake. This is unlike proof of work where computers solve math problems to generate new blocks and confirm transactions.
  • Algorand is a cryptocurrency that could soon challenge Ethereum’s status as one of the biggest and most significant altcoins.

Algorand price chart (ALGO / NGN)

Step 1: Register with a cryptocurrency exchange

To participate in the world of crypto-trading, you first need to sign up with a cryptocurrency exchange. These platforms are where you can buy, sell, and hold cryptocurrency.

There are plenty of cryptocurrency scams out there, so be sure to buy and sell on a reputable exchange.

Binance is one of the best places to buy Algorand, especially if you live in the Nigeria. Registration is quick and simple, and the ALGO is very easy to buy with NGN.

Why is Binance the best?

  • Low transactions fees of 0.1% and below
  • 25% on trading fees paid with the BNB token
  • Binance is available all over the world
  • Supports a wide selection of over 500+ crypto assets
  • Over 50+ fiat currencies supported
  • Binance staking allows users to earn rewards on their crypto holdings
  • More trading options, including spot trading, margin trading, P2P, and futures trading
  • NFT marketplace to buy and sell NFTs
  • Different trading interfaces to accommodate every users’ trading experience
  • The Binance mobile app enables users to access their accounts and trade on the go
  • Binance Visa Card to spend your crypto hassle-free
  • The Binance Trust Wallet supports 53 blockchains and 1M+ assets.

Unfortunately, Binance is not available in the United States, and Americans can only trade on Binance.US, a Binance version that’s compatible with U.S. regulation.

How to Register on Binance

Firstly, click on the button below to register with Binance, it’s free and easy

Sign up on Binance

To get started, just enter your email address, create a password for your account and click [Create Account].

Your password should be a combination of numbers and letters. It should contain at least 8 characters, 1 upper case letter and 1 number for security.

For security verification, drag the puzzle piece to the right until it fits into its slot.

A 6-digit code will be sent to you via email. Enter it in the next screen.

Finally, you will reach the Welcome to Binance screen. This screen will outline some of the core features.

Step 2: Verify Your Account

Verification is a process used by exchanges to establish the identity of customers. It is necessary for any kind of financial transaction, especially those with higher levels of security or legitimacy. Any user who wants to trade crypto on exchanges must go through verification.

For new users, you may click [Get verified] on the homepage directly.

Click [Start Now] to verify your account.

Select your country (In your case Nigeria) of residence. You will then see the list of verification requirements for your country. Click [Continue].

Enter your personal information and click [Continue].

Next, you will need to upload pictures of your ID documents. Most users can choose to verify with a passport, ID card, or driver’s license.

After uploading the document photos, the system will ask for a selfie. Click [Upload File] to upload an existing photo from your computer.

After that, the system will ask you to complete face verification. Click [Continue] to finish face verification on your computer.

After you complete the process, please wait for Binance to review your data promptly. Once your application has been verified, Binance will send you an email notification.

Cryptocurrencies and blockchain continue to be favored targets for criminal activity. The ability to make anonymous transactions can allow criminals to engage in financial transactions with more impunity. KYC protocols and identity verification is an essential element for policing the market and protecting crypto investors from theft.

Step 3: Fund Your Account and buy Algorand

To invest in Algorand, you’ll need to deposit some money into your account.

Log in to your account, head over to the “Buy Crypto” section on the Binance toolbar, and choose the “Credit/Debit Card” option.

Select Algorand and enter your order amount. The total price with fees will be calculated in the second bar.

After that, you will be prompted to enter your card details and after confirmation, you will finally buy your first Algorand. Usually, it will take between 10 and 30 minutes for the crypto to appear in your Binance account.

How to Save 40% on Fees When Buying Algorand

One way you can lower your trading fee is by keeping some Binance Coin in your account at all times so your fees can be taken from that. Doing this gets you 25% off all trading fees.

Also, don`t forget to use our unique registration link and get a 15% discount on fees on Binance.

In total, you get a 40% discount on all transaction fees!

Alternative ways to buy Algorand

If you were unable to buy Algorand on the exchange using NGN, you can buy it using another cryptocurrency, such as Bitcoin. You can always buy BTC for the first time using platforms such as LocalBitcoins, then transfer your BTC to a Binance to buy Algorand. In this case, you can further reduce costs.

Below are a few of the sellers in the Nigeria who sell bitcoins with NGN.

SellerPayment method Information
fayamosePAYPALFriends and family only
DavidScott1808NATIONAL_BANK[*] PLEASE no third party payment. [*] Always use SERVICE for Payment Description,✔️ Please don't add BTC, BITCOIN or LOCALBITCON to payment description❌ [*] Make sure you are able to complete payment within 30 minutes of opening the trade [*] Payment only via Bank transfer [*] Notify anytime you want to send Payment with USSD CODE from 10000 above [*] You might be ask to upload ID if payment seems suspicious [*] NO third party transfer. You have to be the bank account owner. This will be checked. [*] Bank details will be sent once the trade has been opened. [*] Bank account is checked every 60 seconds and bitcoin release will happen once your payment is in our account. [*] Please remember that confirmation of payment going out of your account does not necessarily means it has been received in the recipients account. Please be patient bitcoin will only be released once your payment is available in our account. By opening a trade, you are agreeing to all of the above. Call or Watzapp on +2348171591894 if am late o respond to trade initiation
KingshegzyNATIONAL_BANKTHIS TRADE IS ONLY FOR BUYERS!!!!!!!!!!!! ALL BANKS. ONLINE OR BANK APP TRANSFER ONLY. VERIFIED NAME SHOULD BE THE SAME WITH.....THE PAYMENT NAME. PLEASE UPLOAD PAYMENT SLIP AFTER PAYMENT IS SENT. NO E-WALLET OR ONLINE WALLET PAYMENT, ONLY BANK TRANSFER NO USSD PAYMENT. NO POS PAYMENT. NO PAGA. NO QUICK TELLER. NO ATM PAYMENT. ONLINE TRANSFER ONLY. STRICTLY NO THIRD PARTY. STRICTLY NO COMPANY ACCOUNT. PLEASE UPLOAD PAYMENT SLIP. Don't Write Any Reference, Payment Narration, Reason Of Payment, And Payment Remarks. THANKS.
SaablessNATIONAL_BANKResponsible traders are always welcome to trade. Payment should be made as a direct bank deposit or as an Internet bank transfer from an account with the same name as the one on your LBC profile or trade will be cancelled. No cash deposit, No ATM deposit, No cheque deposit please, No QUICKTELLER, no PAGA, no POS transfers. Dont pay using the account given to you in our previous trade, wait for me to give you an account in new trade. Some account are are having issue, if you pay into them, you are on your own. Only make a request if you can complete the payment within 1 hour. Only mark as paid after you have actually completed the payment. Any Questions , Please Do not hesitate to contact me. UNACCEPTABLE PAYMENT METHODS 1. No cheque deposit over-the-counter 2. ATM CARD TRANSFER, MOBILE MONEY, SMS/USSD BANKING,POS,QUICKTELLER, PAGA, POCKETMONI AND SIMILAR/CARD-RELATED TRANSFER METHODS DIRECTLY TO MY BANK ACCOUNT IS STRICTLY FORBIDDEN. SUCH TRANSACTIONS WILL BE DECLINED AND I WILL ASK THE BANK TO REFUND WITH ALL CHARGES AT YOUR EXPENSE. TAKE NOTE, I WILL NOT DO INTERNET TRANSFER TO YOU AS REFUND BUT YOU WILL HAVE TO WAIT FOR HOW LONG IT WILL TAKE THE BANK TO RETURN YOUR MONEY. 3. NO THIRD PARTY PAYMENT. DO NOT ASK ANY BODY TO PAY ON YOUR BEHALF. 4. I MAY DEMAND FOR ID IF TRANSACTION IS SUSPICIOUS. 5. No cash deposit N.S - Please note that you have the right to cancel trade if Price is not Ok by you (But do not lock BTC while waiting for PRICE to fall or raise, cancel instantly if you must cancel) and I also have the same right to ask buyer to cancel the trade if I am not okay with the price or other security issues.
JayAfamzCASH_DEPOSITPLS READ MY INSTRUCTIONS DONT OPEN TRADE IF YOU ARE NOT READY TO PAY IMMEDIATELY NO 3RD PARTY PAYMENT!!! I have more bitcoin if needed just chat me on Whatsapp: +2349154623001

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Joseph Smith

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