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How to Buy Crypto with Taj Bank in Nigeria

Last updated on November 12, 2023

Quick Summary: While Taj 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.

Taj Bank Homepage

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

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 Taj 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 Taj Bank.

Buy Crypto With Binance

About Taj Bank

TAJBank Limited, is a bank located in Nigeria that operates according to Islamic banking principles. It is a non-interest banking institution. The bank is second non-interest banking institution founded in Nigeria and has its headquarters in Abuja the capital of the country.

The Bank has 3 branches, and offers regular ATM service, as well as mobile, online, USSD and SMS banking services.

The company was established in the year 2019 as TAJBank Limited. On the 3rd of July, 2019 TAJBank obtained a permit from Central Bank of Nigeria, the regulator of Nigeria’s banking system operating as an a regional bank. 2 December 2019 TAJBank officially launched under the name TAJBank Limited in offices and branches in Abuja.

On December 12, 2019, TAJBank opened its second branch in Kano and is in the process of expanding to other urban centres within Nigeria. Federal Republic of Nigeria. To accomplish this aim, the bank has launched TAJXPRESS its complete financial inclusion suite that is part of its effort to boost the financial inclusion of Nigeria.

On the 24th of August, 2020 TAJBank added a branch to its operations, opening a third branch in Sokoto State in Nigeria.

TAJBank announces the release of a 150-billion Naira Sukuk Bond that was commissioned by the Federal Government of Nigeria as the agent to receive payments this is the first time that the bank is acting in this capacity.