Bitcoin: A Simple How to Guide for Consumers

Online Payment with Bitcoin
Paying with Bitcoin doesn’t have to be a multi step process filled with complicated hurdles you have to jump through. Instead with a number of online wallets and processing platforms you can easily purchase goods using Bitcoin. Initially the main payment method of direct transfer comes to mind. This is where you can use a service like blockchain.info and directly send Bitcoin to an address given to you by the business. However do be careful to double check this address as once the Bitcoins are sent they cannot be recovered. Another way which has been gaining popularity is the use of payment gateways. Services such as coin payments and Bitpay are used by many websites to further simplify the transactions. This involves sending Bitcoin to an automatically generated address created by the processor, to receive an instant invoice (for physical goods) or access to your digital purchase there and then in many cases.

Where to Spend Bitcoin in Nigeria
Spending Bitcoin online is extremely easy with countless sites such as CJS selling video games and various gift card sites such as gyft.io allowing you to purchase gift cards with your Bitcoin. On a further not you can also use purse.io to instantly use your Bitcoin to purchase items of Amazon at a discount. Furthermore there are also many shops making use of Bitcoin primarily in South Africa including Wageni Technologies which sells graphic design services, Adamas Corp which sell coloured diamonds in wholesale, Landmark computers which specializes in computers and electronics and even Fire and Amp which allows you to hire fire dancers and performance artists.
Bitcoin can be purchased in many exchanges with NairaEx being one of the cheapest options available currently to the African market. Initially trading with NairaEx is simple but many simply become lost in the steps eventually giving up so here is the definitive guide to buying and selling Bitcoin in the exchange.

How to Fund Bitcoin Account in Nigeria
Firstly create your NairaEx account; this is a simple process requiring only some of your details.
Next, go to your dashboard which will be accessible to you once you have logged in.
After navigating to this section you select the option highlighted as “Buy or Sell Bitcoin”.
Next you can select Naira as your payment option and enter the number of Naira you want to buy or sell.
Then you can paste in your Bitcoin address to sell your Naira, or you can receive Naira to the bank account you have linked with your account.
If you are buying Bitcoin you will then be shown the bank account details of NairaEx to send Naira to. Your bitcoin will be sent to your bitcoin wallet once your Naira deposit has been confirmed.

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BTC Nigeria Editorial

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