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How to Buy Crypto with Keystone Bank in Nigeria

Last updated on November 12, 2023

Quick Summary: While Keystone 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.

Keystone Bank Homepage

As mentioned in my quick summary, like most Nigeria banks, Keystone Bank 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.

Thankfully there are many cryptocurrency exchanges to pick from that allow you 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 Keystone 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 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 Keystone Bank.

Buy Crypto With Binance

About Keystone Bank

Keystone Bank Limited, is an commercial bank in Nigeria. Keystone Bank Limited is among the commercial banks that are licensed through the Central Bank of Nigeria, the regulator of Nigeria’s banking industry.

Keystone Bank offers banking services for large corporations and public institutions, as well as small and medium-sized businesses (SMEs) as well as individuals. Keystone Bank is a major financial service supplier in Nigeria. In December 2012, the total assets of the bank were estimated in the range of US$1.916 billion (NGN:307.5 billion) and shareholders’ equity worth approximately US$213.3 millions (NGN:34.23 billion).

On the 5th of August, 2011, Keystone Bank Limited was granted a commercial bank licence by Central Bank of Nigeria (CBN). The following the same day CBN removed the license to bank from Bank PHB. Keystone Bank assumed the assets and some of the liabilities of the bank, which has since been closed. Bank PHB.

On March 22, 2017 Asset Management Company of Nigeria announced that Keystone bank was transferred to investors for 25 billion Nigerian naira ($81.5 millions). It was transferred to the Sigma Golf-Riverbank group.

On its site, it states that the institution runs an extensive network of more than 150 branches and offices across all States of Nigeria.

A few of the products that are available to the public include QuickSaveor QuickSave Plus Paytime Accounts and Partner Plus Active Dom/Dom Extra Growbiz Account, Future Account, NIDA etc.