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How to Buy Crypto with SunTrust Bank Nigeria

Last updated on November 12, 2023

Quick Summary: While SunTrust Bank 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.

SunTrust Bank Nigeria Homepage

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

Buy Crypto With Binance

About SunTrust Bank Nigeria

SunTrust Bank Nigeria Limited (STBNL) is an Nigerian financial services company, authorized as a commercial institution through the Central Bank of Nigeria, the central bank and the national bank regulator.

SunTrust was founded and incorporated in 2009 by its Chief Director, Muhammad Jibrin Barde as an investment bank. It later , it was converted into and awarded a regional commercial bank authorization by Central Bank of Nigeria in November 2015. It was one of the few commercial banks in Nigeria to obtain an authorization to operate a bank since 2001. This brought the number of commercial banks licensed in Nigeria at the time, to 23. The bank was officially opened to the general public on 15 August, 2016.

SunTrust Bank is poised to provide value to its customers by capitalizing on their skills and capabilities and a group of highly motivated employees they strive to create and provide a variety of financial products and services to customers, small businesses government, corporations, and other institutions that benefit their business.

They are committed to achieving the best possible outcomes for their clients and their customers through financial innovation that leads into solutions which are easy and creative, while also being responsible. The Bank focuses its lending activities on SME Finance, Retail/Consumer Banking, medium to large Corporate Finance and explores other specialized Development/infrastructure financing activities.