How to Buy USDT on Bybit in Nigeria
Buy USDT on Bybit in Nigeria: It is no news that Binance, the largest cryptocurrency exchange in the world has suspended its operations in Nigeria leaving cryptocurrency enthusiasts hanging.
Now, a new alternative to Binance known as BYBIT has surfaced, and has made buying and selling of popular cryptocurrencies like USDT easy; so if you’re looking for how to buy USDT on Bybit in Nigeria, then you’re just in the right place.
So, how about you stick around, huh?
What is Bybit?
BYBIT is a P2P trading platform where users can trade cryptocurencies, and also buy USDT in Nigeria. Not just cryptocurrencies and altcoins, users of the platform can also trade NFTs on the platform. But, let’s focus on crypto trading, especially USDT. Because that’s why we’re here, isn’t it?
Bybit is a centralized trading platform, and just like other centralized exchanges, it is controlled by an entity and requires KYC verification. Bybit was established by founder and CEO Ben Zhou, and was launched in March 2018.
Bybit is currently one of the easiest exchanges to buy and sell cryptocurrencies, and the platform has over a hundred crypto tokens listed including major coins like Bitcoin, Ethereum, Tether, Solana, and more. This means you can buy USDT on Bybit in Nigeria.
To fully understand how to buy USDT on Bybit in Nigeria, let’s quickly talk about what USDT is just so we cover our basics.
What is USDT?
Again, for the crypto newbies who have zero knowledge what cryptocurrencies like USDT are, or are fresh into the crypto world, let’s briefly explain what USDT means.
So USDT is also known as Tether, and Tether is a type of cryptocurrency known as a stablecoin. When we say stablecoin, it’s exactly what it means. Stable.
Unlike other cryptocurrencies like Bitcoin, Ethereum, Litecoin, etc that are characterized by volatility, USDT isn’t.
It is designed to maintain a stable value by pegging it to a reserve of real-world assets, usually traditional fiat currencies like the US Dollar. The primary purpose of Tether is to provide the crypto community with a stable and secure alternative to the often volatile market.
How to Buy USDT on Bybit in Nigeria
To buy USDT on Bybit in Nigeria, the first thing you have to do is to register on the platform first. Obviously. To do this, you have to download the app from the Google play store or Apple store, and install the app.
Then create an account if you do not have one. Creating an account in easy, and in a couple of minutes, a verification code will be sent to your email address.
Afterwards, you’ll need to verify your identity. Verifying your identity involves uploading a government ID such as Nigerian passport, NIN, BVN, Drivers’ licence and so on, and then uploading a selfie. This is a KYC (know your customer) verification process.
To buy USDT on Bybit,
- Go to the ‘Buy’ tab located at the P2P trading
- Select the cryptocurrency or coin that you would like to purchase, USDT in this case. This is where you will see all available trades
- Type in the amount you would like to buy, and orders that match your requirement will be displayed
- Choose the one you’re most comfortable with. For example, you could choose one that offers you the highest rate.
- Click on the listing to read the terms and conditions offered by the seller
- If you’re okay with the terms, type in how much you’re willing to get from them with fiat or crypto
- Click on buy, then you’ll see an account to pay into
- Make payment
Once payment is made and confirmed, you will automatically receive a deposit of the USDT in your wallet.
An Alternative to Bybit
Dtunes is the best alternative to Bybit. Dtunes is a prominent cryptocurrency exchange platform based in Nigeria, and its user-friendly interface is what makes it easy to use for both crypto newbies and expert traders.
This cryptocurrency and gift card exchange platform offers the best rate, fast transactions, 24/7 customer support, and a seamless and secure platform to trade compared to any other platform.
Conclusion
By now, you should already know how to buy USDT on Bybit in Nigeria. And if you do not, we suggest you take another look at the article again, reading it slowly this time.
Now, you can get started on buying your USDT on Bybit, but be sure to do more research. Or you can decide to explore other options like Dtunes.
