Steemit Crypto Academy Contest/ S7W1 - Practical Guide on the best way to buy STEEM in Nigeria.
It's another season and a new year to we all. I'm pleased to be here again to be part of this great contest. I want to thank the organizers of this contest for great work Weldon. Follow me closely as i unveil the perfect ways to buy STEEM here in Nigeria.
What is the level of crypto adoption in your country and how popular is the Steem token?
The level of crypto adoption in my country Nigeria has nothing to write home about. What i meant here is; Nigeria is still in total darkness when it comes to the adoption of Crypto Currency. Note even though Nigeria is the largest country in Africa, the mindset of our leaders has made the full adoption of Crypto limited.
Nigerians has adopted Crypto currencies but our government have made things more difficult for us when it comes to Crypto exchanges. We don't have the full access in transferring our local fiat direct to an exchange like Binance. The only means of funding your wallet must be via P2P transactions.
95% of Nigerians don't have any knowledge about STEEM token. This is as a result of the band of Crypto by our government. Sometime ago, the security men were on checked to find out if any one will fall victim. Whenever we are traveling, we will uninstall all our exchanges from our phones just for safety. If the practice of Crypto is band, how about the Steem token that is not even the Nigerian's Crypto.
Highlight various ways users in your country utilize to buy crypto assets.
The buying of Crypto assets in my country has not been easy, this is because of the high allegation placed by the government of the country concerning Crypto assets. However, there are many ways one can pass through before he/she can gain access to Crypto assets.
• Binance Exchange
• Trust Wallet
• Roqque exchange
And many more. Users of these exchanges uses P2P to deposit and withdraw funds to their local banks within the space of 24 hours. All the exchanged listed above, i would have said that ROQQU has tried her possible best to bring Crypto nearer to the common man here in Nigeria. Before now we can deposit fiat direct from our bank to Roqqu exchange but since the government raise a red flag on Crypto, it became cumbersome for Nigerians to buy crypto especially for those who don't have the knowledge of P2P using Binance and binance verification is usually difficult because of the rejection of our national identification slip.
However, because of the restrictions, Roqqu employed another means for Nigerians to be using RAVEN for withdrawal and deposit. This system of P2P was too cumbersome for people to understand. Many only transfer their token from Roqqu to other exchanged due to the procedure involved in making withdrawals. I personally loss #5,000 trying to send cash from my Raven to Roqqu. According to Raven customer care, i sent the funds to the wrong P2P which was not associated to my Roqqu account.
Prepare a guide on at least one of the ways to buy Steem in your country (Practical steps with screenshots required).
I will be showing you how you can buy Steem using Roqqu exchange here in Nigeria. First and foremost, you need to credit your raven online bank, via sending fiat direct from your local bank. You can now send funds via raven user to Roqqu, which represent peer-to-peer trading.
Note before now, you need to go to your roqqu and create a deposit link which you will used in sending the fiat to Roqqu exchange.
Deposit procedure on ROQQU Exchange
Open the App and click on deposit as seen on the screenshot below.
Enter the amount you wish to deposit on the space provided and click on proceed with deposit. See screenshot below.
When you click proceed, it will give you the opportunity to select the means of deposit. Choose peer to peer.
Different wallet will be displayed, so chose the one you are using. In this case i'm using Raven.
You have the access to copy the narrative and the peer to peer username. Note; you must not make any mistake in terms of copying those details to avoid fund loss. Click complete deposit as seen below.
After you have copied the username and the narrative, move over to Raven App and click on send money
Select Raven user
Enter the username you copied from Roqqu exchange and the amount you are depositing. Click on find user.
Paste the narrative and click on confirmed that this is the user because once transfered, it can not be reversed. Click on complete transfer.
Enter your password and click on complete.
My #1,000 was transferred successfully from Raven wallet to Roqqu exchange.
At this point, you can now use the #1,000 from your dashboard to buy STEEM token in Roqqu exchange. There are different assets on Roqqu, screw down and select STEEM, then click on buy.
Enter the amount you want to buy. Click on confirm purchase of STEEM.
Click on accept.
Click on continue as my Steem was purchase successfully.
You can see my Steem now in my Roqqu wallet below.
How would you rate the ease of purchasing Steem tokens in your country? Highlight the difficulties in buying Steem in your country, if any
The rate in which Steem is bought in my country is about 30% which is not a pass mark. This is because the deposit procedures are cumbersome for a common Nigerian to understand. Secondly, Nigerian government is against Crypto so even the investors of coin are even scared because of the security agents. This has made Crypto (STEEM) buying to be limited here in Nigeria.
What's your opinion on the future of the Steem token? And what method of buying Steem would you like to be made available in your country?
I'm very sure that Steem will be well recognize in the nearest future as the price of Steem will increase more than its previous highest highs. If Steem can be use to buy properties and asset via peer to peer, i believe the price will be meaningful in future.
Secondly, if our government can give the go ahead of Crypto trading in the county, by allowing direct transfer of our local fiat to exchanges like Binance, i think that will be more appreciated. Binance exchange should not limit the buying of Steem token only to ETH and BTC.
Conclusion
Roqqu is the easiest way to buy Steem token here in Nigeria. But you need to be very careful while carrying out transfer of fiat to avoid loss of cash.
If you can follow all the steps from deposit to the buying of Steem, you can equally buy Steem token here in Nigeria. Thank you for reading through my blog.
I would like to invite certain users to also participate in this contest and they are @ochang, @joyuduak, and @josepha
Binance is with no doubt the most popular exchange in Nigeria while decentralized wallets like Trust Wallet, Metamask, C98 and many more are used to connect with decentralized exchanges to buy crypto easily.
Your guide on how to buy Steem shows that it's very easy to buy on Roqqu and I will be willing to try Roqqu one day because I can see it's popular among Nigerians these days.
Yes dear you are right. You can try buying with roqqu exchange. Good luck
The procedure to buy is really too complicated and the amount you can spend for the purpose is too low. However, you have done very well to explain the process.
Thank you.
This is a well explained work and I also us Roqqu and Ravens for my transactions, the way you detailed every information. Raven and Roqqu will be easy for an amateur in the Crypto world to purchase Steem on it.
Well done
Thank you very much @ochang fir your review on my blog. I appreciate.
@justiceanietie I understand that you are expressing your concern about the difficulty in using P2P methods for depositing and withdrawing funds on the Roqqu exchange in Nigeria, due to government restrictions on cryptocurrency. You also mention that before these restrictions, it was possible to deposit fiat directly from a bank to the Roqqu exchange, but now the process has become more complex. You also mention that you personally experienced a loss of 5,000 Nigerian Naira while trying to send cash from your Raven account to your Roqqu account.
It is important to note that each country has their own set of laws and regulations regarding cryptocurrency, and it is important to be aware of and comply with these regulations in order to use cryptocurrency exchanges safely and legally. It's also good to keep in mind that p2p buying and selling method may come with some risk and proper know how of how the p2p process work. It may also be a good idea to consult with the customer care of the exchange before attempting a transfer and in case of any mistake made to reach out to them for help and guidance.
@nabeelsaqib, thank you very much for finding time to release this great advice concerning Crypto trading. I sincerely appreciate your efforts
This is a great guide it will really help us.thanks for this educative post.
You are most welcome.
Greetings my friend:
I noticed that you have been more than three months inactive and this is the first post you make.
I invite you to participate actively in the communities of your country, and then you can participate in this community.
My advice is to grow your account and be a user so that you can be active constantly, you have removed all your Steem.
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@peIon53, i was having a serious challenge that was what make me to remove my steem but now i have started this journey never to withdraw my Steem as before.