• Home
  • /
  • Banks
  • /
  • How to Buy Crypto with Zenith Bank in Nigeria

How to Buy Crypto with Zenith Bank in Nigeria

Last updated on November 12, 2023

Quick Summary: While Zenith 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.

Zenith Bank Homepage

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

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 Zenith 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 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 Zenith Bank.

Buy Crypto With Binance

About Zenith Bank

Zenith Bank Plc is a significant financial services supplier that operates in Nigeria in addition to Anglophone West Africa. The bank is licensed to operate as commercial bank by Central Bank of Nigeria, the regulator of Nigeria’s national banks. As of December 31, 2019, it had $16.1bn as total assets and shareholders’ equity in the amount of $854 million. It is listed on both the Nigeria Stock Exchange and the London Stock Exchange.

The Nigerian banking industry in the early 1990s was governed by a small set of four major bankers: Union Bank, First Bank, UBA , and Afribank. The year 1999 saw Zenith was one of the banks that embraced web for marketing financial services, and to increase the acceptance of online banking for customers and was among the first companies to make investments in internet-based banking. In the beginning of 2000, Zenith’s profile began rising and its investments in technology allowed it to compete with the big banks with branches with a greater reach and the bank soon began to announce net profit similar to those of old big banks.

On the 17th of June, 2004, following the success of an IPO the bank became an open-ended public limited company. On the 21st of October, 2004, its shares of stock are listed on Nigeria Stock Exchange (NSE). The shares of the bank trade on the London Stock Exchange (LSE) after a listing of 850 million of shares, at $6.80 per share, as of 2013.

The bank holds equity stakes into Zenith Custodian, Zenith Securities as well as Zenith General Insurance.