How to buy Monero with NGN in Nigeria

If you want to buy Monero 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 Monero in Nigeria with NGN.

XMR / NGN exchange rate for today

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Table of Contents

The Benefits of Monero

  • Monero uses unique cryptography to keep its transactions 100% private and anonymous.
  • Monero is an open-source project that anyone can use, with its development based on donations and a dedicated solid community.
  • Every time anyone sends and receives funds in Monero, a new one-time address is generated. This improves your anonymity as only the sender and receiver will know the actual address from where the payment was sent.

Monero price chart (XMR / 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 Monero, especially if you live in the Nigeria. Registration is quick and simple, and the XMR 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 Monero

To invest in Monero, 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 Monero 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 Monero. 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 Monero

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 Monero

If you were unable to buy Monero 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 Monero. 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
KenanWeitzNATIONAL_BANK
GajeresNATIONAL_BANKFast payment
AchalaugoNATIONAL_BANKTHIS TRADE IS FOR THOSE WHO WANT TO BUY BITCOINS FROM ME. Fast payment please. Dont open trade if you are not ready to trade. Dont mark trade as PAID when you have not paid. Dont make third party payments Happy trading ❤️ If i don't respond within 5 Minutes, WhatsApp me +228 90191171
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.
kuzzyiTunes01SPECIFIC_BANKPLEASE NOTE; For all new buyers except you already have a good rating reputation from other traders, i require you attach a picture of your valid I.D and a selfie holding your I.D for verification especially for users with less than 2 weeks old account or with less than 15 completed trades. STRICTLY NO 3RD PARTY PAYMENTS, PAYMENT MUST BE MADE FROM YOUR OWN PERSONAL ACCOUNT!!! Pls don't put anything related to Bitcoin in your narration, remarks or reference as Federal Govt has banned cryptocurrency. If you put it, I will not release coins and I will also report your account if bank close my account! ZERO TOLERANCE for FRAUD!!! I reserve the right to hold the coins or dispute the trade if I suspect any type of fraud or if failed to follow instructions. BEWARE SCAMMERS ; DON'T EVEN TRY ANY LUCK OUT WITH ME OR ANY FRAUDULENT ACTIVITIES!!!! THANKS and HAPPY TRADING . . . .

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Joseph Smith

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