How to Buy Crypto with Ecobank Nigeria

Last updated on November 12, 2023

Quick Summary: While Ecobank Nigeria does not offer cryptocurrency trading through its own platform, you can make use of your account to purchase crypto through a third-party exchange.

There are a lot of Nigeria cryptocurrency exchanges to pick from, but we suggest using the Binance.

They offer the majority of most well-known cryptocurrencies and are simple to use. They have lots of advanced features but are also great for beginners.

Ecobank Nigeria Homepage

As mentioned in my quick summary, like most Nigeria banks, Ecobank Nigeria doesn’t allow users to trade cryptocurrency directly on their platform, due to the complexities with setting up a crypto exchange and comes with regulations and extra work for the banks.

There are a large number of cryptocurrency trading platforms that you can use to buy Bitcoin and other cryptocurrencies.

Next you’ll want to sign up to an exchange (for this short guide I’ll use Binance as it’s a global and widely used exchange) and deposit funds so you can start trading crypto.

How to buy crypto or bitcoin with Ecobank

Let’s get started! Just follow our 4 quick steps.

1. Pick a crypto exchange

As mentioned above, I’ll be using Binance for this guide as they are a widely used exchange and have a huge range of cryptocurrencies to choose from. It’s also one of the best exchanges for beginners and allows more advanced features when you get more comfortable with trading.

The steps in this guide should be similar for most trusted crypto exchanges, so feel free to use whichever you end up going with.

Let’s get started!

2. Create account with the trading platform

You’ll first need to create an account if you haven’t already, you can do using this quick link below.

Sign Up With Binance

Once you’ve filled out the basic information you’ll be asked for KYC (Know Your Customer) information, this is normal for crypto exchanges to stop any bad activity. This will often be called the “verification” process.

3. Fund your account

Next, you’ll need to add funds to your account using any of their deposit methods. For Binance there are many options such as bank transfer, PayPal, credit/debit card, and many more.

4. Buy crypto

Lastly, you’ll need to go to the “trade” section, this will differ for each exchange but it will usually have some variation of this.

It’s that easy! You’ve now got the tools to buy your first cryptocurrency with Ecobank Nigeria.

Buy Crypto With Binance

About Ecobank Nigeria

Ecobank Nigeria Limited, commonly called Ecobank Nigeria, is a commercial bank located in Nigeria. It is among the commercial banks that have been licensed through the Central Bank of Nigeria, the regulator of Nigeria’s national banks.

The bank started operations in 1989. It is an all-encompassing bank that provides retail, wholesale as well as corporate, investment and transactions banking services to its customers within Nigeria. Nigerian market. The bank is divided into three areas: (a) Retail Banking, (b) Wholesale Banking and (c) Treasury & Financial Institutions. The bank also provides the services of investment and capital market banking as well as.

In the fourth quarter of 2011, Ecobank Nigeria through its parent company Ecobank Transnational Inc. (ETI) purchased 100 percent of the shares of Oceanic Bank, creating the expanded Ecobank Nigeria Limited. As of December 31, 2011 the expanding Ecobank Nigeria controlled total assets estimated at around US$8.1 billion (NGN:1.32 trillion) and was one of the top five institutions operating in Nigeria in the year. The bank at the time was home to 610 branches with freestanding branches and was the second-largest bank in Nigeria based on its branches.

Ecobank Nigeria has been a part of Ecobank, the most reputable pan-African independent bank, with its headquarters at Lome, Togo, with affiliates across West, Central and East Africa. Ecobank was founded around 1985 has expanded to include more than 1,000 branches and employs more than 10,000 employees, and has offices across 32 countries which include Benin, Burkina Faso, Burundi, Cameroon, Cape Verde and in the Central African Republic, Chad, the Republic of Congo, the Democratic Republic of Congo, Cote d’Ivoire, Gambia, Ghana, Guinea, Guinea Bissau, Kenya, Liberia, Mali, Malawi, Niger, Nigeria, Rwanda, Sao Tome, Senegal, Sierra Leone, Togo, Uganda, Zambia and Zimbabwe.