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How to Buy Crypto with Fidelity Bank in Nigeria

Last updated on November 12, 2023

Quick Summary: While Fidelity Bank 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.

Fidelity Bank Homepage

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

There are a large number of cryptocurrency exchanges 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 Fidelity Bank

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 cryptocurrency

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 Fidelity Bank.

Buy Crypto With Binance

About Fidelity Bank

Fidelity Bank is also known by the name of Fidelity Bank Plc. It is a commercial bank located in Nigeria. The bank is licensed as commercial institution with international authorization from the Central Bank of Nigeria (CBN) which is the central bank and the national regulator for banking.

Fidelity Bank has grown from an insignificant player in 1987, to an established and reputable bank. Particularly in the year 2005 Fidelity Bank acquired FSB International Bank Plc (“FSB”) and Manny Bank Plc (“Manny”) to form one of the most prestigious Ten Nigerian banks. In 2011 Fidelity Bank was ranked seventh most capital-intensive bank in Nigeria as well as the 25th highest capitalized bank in the African continent.

In addition, as a result of its new digital and retail banking strategy, Fidelity Bank was ranked as the 4th most reputable banks of Nigeria within the segment of retail of the KPMG Banking Industry Customer Satisfaction Survey (BICSS) in 2017.

Fidelity Bank of Nigeria was founded in 1987, and started its business in the year 1988. It was initially launched with an Merchant Banking license.

Fidelity Bank converted to a commercial bank in 1999 as a way to expand, and was an individual limited company. The company was transformed into an Public Limited Company also in 1999, during the August month. It changed its name as Fidelity Bank Plc that year.

The bank operates a huge system of branches interconnected throughout all Nigerian states as well as major cities across Nigeria. There are currently 240 offices for business as well as 774 ATMs.