Summary: Access Bank facilitates its clients' entry into the cryptocurrency market by allowing Naira (NGN) transfers to regulated platforms despite not offering direct crypto trading services. The bank emphasizes the importance of using exchanges adhering to regulatory standards established by the Nigerian Securities and Exchange Commission (SEC) for maintaining compliance.
Our evaluations have consistently highlighted Bybit as a leading choice for Access Bank customers looking to buy and trade digital currencies. Recognized for its robust security measures and compliance with Nigerian financial norms, it supports free NGN deposits and offers more than 1000 tokens for trading on several markets, including spot and futures. It also provides lending and borrowing services and an NFT marketplace.
- Fast and free Nigerian Naira (NGN) deposits from via bank transfer, credit card, and more.
- Trade and stake over 1000 cryptocurrencies with lowest fees starting at 0.1% per trade.
- Over 25 million registered users globally with availability in 160 countries including Nigeria.
Can I Buy Bitcoin with Access Bank?
Yes, you can effortlessly buy Bitcoin with Access Bank by sending NGN to secure and authorized trading platforms in Nigeria. In order to ensure a secure setting for your trading activities, we suggest using exchanges that adhere to the country’s monetary standards. Although the bank doesn't directly offer cryptocurrency investment services, it partners with reputable platforms where you can buy and trade various tokens.
How to Buy Crypto with Access Bank
Purchasing tokens like Mantle, Tether, or other digital currencies with Access Bank is a simple process that includes registering on a licensed exchange and making a deposit in Naira. After reviewing available platforms, we believe Bybit is the best solution for Nigerian clients due to its rigorous adherence to regulatory guidelines and a wide range of digital assets. It supports NGN deposits through bank transfers, credit cards and e-wallets.
Start your investing journey with Acess Bank by following the steps below:
- Creating Account: Go to Bybit to sign up and verify the necessary details.
- Choose Currency: Navigate to 'Buy Crypto', choose 'Fiat Deposit', and select "NGN" as your currency.
- Start Transfer: After picking a payment method, initiate the transfer of funds from your Access Bank account.
- Complete Transaction: Find the token you're interested in and hit 'Buy' to finalize your purchase.
Access Bank Cryptocurrency Policy
Access Bank has a favorable attitude towards digital currencies, which aligns with its commitment to providing modern financial services. The bank assists its clients in entering the crypto market by enabling transactions with regulated digital asset platforms that adhere to regulatory requirements set by authorities like the Securities and Exchange Commission (SEC). Our recommended platform, Bybit, ensures the security and compliance of transactions with both Nigerian and international financial standards.
Digital Asset Investing Fees
It's essential to grasp and effectively handle the expenses associated with crypto investments to maintain successful financial management. Access Bank customers should be aware of the following costs typically imposed by digital asset platforms:
- Trading Costs: On platforms like Bybit, expect to encounter a commission of only 0.1% per transaction, while the average fee on other exchanges is around 1%.
- Deposit Fees: Depending on the payment method you want to use, costs can vary. Bank transfers usually cost less than credit and debit card deposits, which can go above 2%.
- Withdrawal Expenses: Taking out your holdings off the exchange incurs a fee. The cost will be different depending on the asset. It's usually 0.0005 BTC for Bitcoin.
Thanks to its affordable fees, free Naira deposits, and over 1000 tokens to choose from, Bybit is recognized as the favorite option for Access Bank clients who want to trade and stake cryptocurrencies.
What is Access Bank?
Access Bank, established in 1989, is a noteworthy Nigerian multinational commercial bank. As part of the Access Bank Group, it has significantly expanded its operations through mergers and acquisitions, notably with Diamond Bank in 2019, enhancing its customer base and service reach. Serving over 31 million customers, the bank operates in over 15 African countries as well as in China and the UK.
It offers a comprehensive range of services, including personal banking, corporate and investment banking, and digital banking solutions like internet banking and mobile banking apps. This institution is dedicated to providing innovative financial solutions, catering to the diverse needs of its customers, and contributing to financial inclusion and development across its operational territories.
Final Thoughts
To summarize, Access Bank allows its customers to investigate and invest in cryptocurrencies, such as Bitcoin, by enabling transactions with approved digital asset exchanges. We advise using Bybit because it offers unique features like staking, loans, derivatives trading, demo accounts, an NFT marketplace, and more. Its users' funds are securely stored, with all assets backed on a 1:1 ratio.
Andrew Chen is a lead editor and auditor of content for Buy Bitcoin Bank, with a Masters of Computer Science and extensive knowledge in cryptocurrency and blockchain technology. He has helped ensure the accuracy and quality of the platform's educational resources for new and experienced investors in the crypto space.
