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How to Buy Crypto with Stanbic IBTC Bank in Nigeria

Last updated on November 12, 2023

Quick Summary: While Stanbic IBTC 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.

Stanbic IBTC Bank Homepage

As mentioned in my quick summary, like most Nigeria banks, Stanbic IBTC Bank doesn’t allow users to trade cryptocurrency directly on their platform, due to the complexities with setting up a crypto trading platform 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 Stanbic IBTC

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 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 Stanbic IBTC Bank.

Buy Crypto With Binance

About Stanbic IBTC Bank

Stanbic IBTC Bank offer all their customers a variety of business, personal and commercial banking products via their numerous branches across Nigeria as well as their web-based banking platform.

They provide current, savings and domiciliary accounts. personal loans as well as asset and vehicle finance MasterCard debit cards Visa credits; loans for homes; online banking for small and medium scale business (SME) loans, and *909# .

They offer services for business and individuals with specially designed business and retail banking products. They also provide self-service channels backed by advanced technology that allows for convenience to customers with banking.

They also offer custodial services from Stanbic IBTC nominees Nigeria Limited, their custody arm and non-pension asset custody custodian acting as a nominee for transactions of clients in the area of securities and other investments.

They are a significant player in financial inclusion , and are poised to bring banking right to the doorsteps of their clients, and take into consideration the needs of banking of various types of individuals and companies.

Its parent firm, Stanbic IBTC Holdings, often referred to as Stanbic IBTC, is a holding company that provides financial services located in Nigeria with branches that are in the banking industry, Stock Brokerage, Investment Advisory, Asset Management, Investor Services, Pension Management, Trustees and life Insurance business.

The headquarters of the company, I.B.T.C. Place, is located at Walter Carrington Crescent, Victoria Island, Lagos. Stanbic IBTC Holdings is a part of the Standard Bank Group, a large financial services firm based within South Africa. Standard Bank is Africa’s largest banking group , ranked according to profits and assets, and operations across 20 African countries as well as 13 countries outside of Africa.