Crypto Trading has become one of the most lucrative online businesses to engage in. Crypto users, are most careful in the bank they operate with. Considering some limitations in some Nigerian banks, Crypto users have become skeptical about whether to continue engaging in the business or not. However, this article is here to discuss the Best Banks for Crypto Trading and Buying Cryptocurrency in Nigeria.
Kuda Microfinance Bank is one of the top online banks in Nigeria. It is ranked number one in the list of Best Banks for Crypto Trading and Buying Cryptocurrency in Nigeria. It was created by two people. These people are Babs Ogundeyi and Musty Mustapha. This app was created to be used to receive deposits and send money. It can also perform other commercial bank functions like receiving deposits. One of the most beautiful things about Kuda is that you can receive any amount of money. Additionally, you can also transfer to as many people as possible in a single day.
However, to enable full functionality you need to verify the account with your government ID and Bank Verification Number. Recently Kuda also made a partnership deal with Access Bank. This deal would enable Kuda Bank customers to receive funds from any access Bank ATM. Another beautiful feature of Kuda is that it allows user to transfer money from their wallet to their bank account. For instance, Binance just added Kuto to the list of their banks.
Providus Bank was established on the 6th of June 2006. When compared to Kuda, it is older than the latter. It has its headquarters in Lagos, Nigeria. When talking about banks that support crypto in Nigeria, Providus Bank is inclusive. Providus Bank allows huge funds into their savings accounts. Additionally, it also allows people to fund their accounts regularly.
There is a platform called Affluent Savings Account. This is one unique aspect in this list titled: Best Banks for Crypto Trading and Buying Cryptocurrency in Nigeria. It is one of the banks that allows a minimum of N100,000 in your account to open this Affluent Savings Account. This account allows unlimited funds to enter your account without hassle. This is what a crypto trader needs. Additionally, you get to enjoy Internet banking, and alert messages without issues. You also stand to benefit from seeing your bank statements now and then.
Another benefit of Providus Bank is that they are partners with Quidax and the Yellow card exchange platform. This makes banking with crypto very easy and exciting. Other wallets have Providus Bank in their bank list.
Rubies is one of the top brands in Nigeria. When it comes to transacting they are very renowned. Rubies was launched by High Street Microfinance Bank in 2019. The beautiful thing about Rubies is that they offer a feature called the ‘ Independent Banker’. This feature enables you as the client to earn very well when you refer a person. This way you can see that this is a unique feature in Best Banks for Crypto Trading and Buying Cryptocurrency in Nigeria. However, the person you refer has to perform a transaction before you can earn anything reasonable.
Another beautiful thing about Rubies is that they do not charge exorbitant fees when you complete a transaction. Normally, you are charged N50 by a commercial bank, but Rubies only charge you about half the cost. The maximum amount you can transact is about 1 million naira.
Rubies Bank also has an impeccable customer support team. The incredible thing about this is that if you have a Patricia account, you are given Rubies Bank as a complement. For crypto users, you can easily get rapid and highly centralized transactions with Rubies. They have also partnered with some crypto wallets.
Alat by Wema
Alat by Wema was created by Wema Bank. Of course, Wema Bank is one of the top banks in Nigeria. Alat is a platform that has access to a lot of features. It is known by many finance enthusiasts to be a bank that allows foreign transactions. For starters, you can install this app via Playstore or iOS device.
You can follow the prompts on your screen to register. Alat by Wema allows transactions just like any conventional commercial bank. It allows services such as Bill Payment, Airtime Purchase, Cable Subscription, Transfer Payment, etc. You can make payments to crypto wallets and exchange platforms. Unfortunately, this card has a daily limit of N30,000.
Guaranty Trust Bank
Guaranty Trust Bank is one of Africa’s leading banks. It is known as a reliable commercial bank. Gtbank is a major bank in Nigeria’s banking industry. It was established in 1990. It offers a wide range of services ranging from savings, receiving deposits, and giving loans. Gtbank has been expanding its influence in the crypto space. You can purchase or buy digital assets such as Bitcoin, ETH, etc. This can only be done with either your Visa card or MasterCard. Gtbank users know the Best Banks that support Crypto Trading and Buying Cryptocurrency in Nigeria and they are included.
Does Kuda deal in crypto?
Kuda doesn’t deal with cryptocurrency transactions.
Do Nigerian banks support crypto transactions?
Nigerian banks do not support various cryptocurrency transactions and various payment methods.
Can I invest 500 naira in Bitcoin?
Yes. You can buy Bitcoin at N500. It just depends on the wallet you are transacting with.
What are the best crypto wallet?
Binance – Best exchange for low fees.
NairaEx – Best Nigerian exchange.
How does Kuda work?
Kuda can also perform other commercial bank functions like receiving deposits. One of the most beautiful things about Kuda is that you can receive any amount of money. Additionally, you can also transfer to as many people as possible in a single day.
This article has discussed so far the Best Banks for Crypto Trading and Buying Cryptocurrency in Nigeria. Cryptocurrency money fluctuates when it is in the wallet. So, the best method to preserve the value of your money is to deposit it in your local banks. The banks can be either online or offline. This article has discussed them.