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How to Buy Crypto with Providus Bank in Nigeria

Last updated on November 12, 2023

Quick Summary: While Providus 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.

Providus Bank Homepage

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

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

Once you’ve signed up to a crypto exchange (in our example I’ll be using Binance as it’s a highly trusted and global exchange), you can easily move money from your bank account to the trading platform., and exchange it for a variety of cryptocurrencies.

How to buy crypto or bitcoin with Providus Bank

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

1. Pick a cryptocurrency 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 Providus Bank.

Buy Crypto With Binance

About Providus Bank

ProvidusBank PLC (PB), is an Nigerian financial services company certified as commercial bank from the Central Bank of Nigeria, the central bank and the national regulator of banks.

In November the year 2018, Providus Bank was registered as an a regional commercial institution, serving customers from Lagos State and in the Nigerian Federal Capital Territory. The bank’s goal is to provide large companies as well as institutions, government agencies as well as smaller and medium-sized companies, and wealthy individuals.

The bank was given an authorization to operate as a regional bank through the Central Bank of Nigeria in June 2016.

ProvidusBank is a cutting-edge financial institution offering private, personal, corporate commercial, and digital solutions and banking products. Their customized financial service include: Business Advisory, Portfolio Management, Personalised Relationship Management, fast-tracked service delivery and Self-service solutions.

ProvidusBank advantages in competitiveness in business, institutional, private and personal banking is based on the idea of providing value and support for institutions such as Agencies, SMEs, and HNIs. Their strategy for business development is focused on acquiring skills and working together to enhance this oil-based (emerging) segment of the Nigerian Economy which includes but isn’t restricted to Mining, Agriculture, Hospitality, E-commerce, and Art & Entertainment.

At ProvidusBank They consider they are in they are in the New World of Fast, Smart, Personal, and Borderless banking is now available. They are therefore enthused with the Future Forward Banking ethos to create a the experience (at both work and at leisure) more enjoyable for their customers through the application of cutting-edge technology that provides top-of-the-line customer satisfaction.