If you still find it is very hard to buy crypto for use online the good news is, Yellowcard is back and you can now buy crypto coins directly with your naira.
Following CBN memo in 2021 that banned crypto-related activities on individual accounts, and also limited fintech and commercial banks from interfering in cryptocurrencies.
After then, it was a hot experience as the bank started banning people that bought crypto with their bank account or any transactions that carries the crypto note in the description.
Aside from blocking, many crypto apps like Luno yellow card and quidax could not process the withdrawal of crypto to the naira account as it is against CBN policy. However, there was a strong effort to create a P2P system to enhance crypto exchange to naira.
Now, Yellowcard has fully resumed operation and you can now buy crypto with your naira account but with improved KYC procedures as an essential element of P2P to reduce fraud.
The KYC comes in 3 tiers;
Tier 1 uses the BVN or NIN for verification which allows you to have a trading limit of 50,000 daily. The tier 2 verification requires you to provide the proof address to have a trading limit of N2,000,000 while the tier 3 verification required proof of income and makes you trade up to N30mllion
Yellow card peer to peer?
The peer to peer allows you to buy and sell bitcoin between two parties without physical access. P2p trading is very risky and that’s why Yellowcard has made it very easier. Yellow card merges you automatically with verified p2p merchant. So you don’t need to worry about being scammed.
If you don’t have an account with a yellow card, Kindly register and start trading asap.