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How to Buy Bitcoin with Credit Card | Bitpapa Beginner's Guide

How to Buy Bitcoin with Credit Card | Bitpapa Beginner's Guide

Is it possible to buy Bitcoin in Nigeria with a credit card? Cryptocurrencies are now easily available and accessible from everywhere, even in not entirely crypto-friendly Nigeria. All you need for this is to have such a card along with some spare cash on it. But the choice of a trading platform is still important – they all have their quirks and perks. 

In this guide, we explore how you can buy Bitcoin with a debit/credit card on Bitpapa, a p2p marketplace which offers the option of trading BTC for the Nigeria Naira.

Bitpapa – A Leading Peer-To-Peer Trading Platform

You can buy Bitcoin in Nigeria with instant swap services such as local NairaEx, traditional exchanges such as Luno and Binance Spot, or payment (remittance) systems like BitPesa and MoonPay, although with some caveats and catches here and there. However, the most popular avenue to buy crypto with Naira (NGN) is through p2p trades.

The popularity of these trades among Nigerian crypto users is perfectly justified if we consider that banks in this country cannot officially process cryptocurrency-related transactions. While some local and regional exchange services (like already mentioned NairaEx or Yellow Card) have found loopholes, international operations such as Bitfinex prefer to stay away from the Nigerian crypto space.

This creates a perfect environment for peer-to-peer marketplaces, which don’t accept fiat deposits but only offer escrow services to their users.

That said, there’s another roadblock, though. Just like regular exchanges nowadays, most p2p marketplaces require that you verify your identity in one way or another. At the very least, you will be asked to confirm your email and phone number. That wouldn’t be an issue (apart from defeating the purpose of p2p) if you were not also limited on how much you can trade, if allowed at all.

For example, on Remitano, you can trade only up to $100 daily (buys+sells combined) with your email and phone number verified:

On LocalBitcoins, for Tier 1 (the lowest there), you can trade and/or receive up to €20,000 annually. However, in addition to email and phone number, you will also have to provide your full name and country of residence. For Nigerian users, this in effect means submitting official documents such as passport, driver's license, voter ID or national ID card.

In other words, LocalBitcoins is not particularly different from Binance P2P, where you won’t be able to make a single trade unless you have properly confirmed your identity.

And that leaves us with Bitpapa – the only global p2p marketplace where you can trade Bitcoin for Nigerian Naira straight away. Here, you won’t have to go out of your way to prove your identity before you can engage in trading without looking over your shoulder, as it were.

Confirming your ID on Bitpapa is still an option, and it can in fact give you access to more offers as verified traders may choose to work only with other verified users (it is between you and them, not the marketplace). But other than that, you are not restricted with respect to how much you can buy and sell on this platform, whether it is Bitcoin or any other cryptocurrency supported there (Ethereum, USDT, Monero and Toncoin).

You can buy BTC with a credit/debit card on Bitpapa by taking 3 simple steps, which are essentially the same across all p2p marketplaces (hint, it’s not rocket science).

Step 1. Create an Account

Creating an account on Bitpapa involves signing up with the service (followed by verification if need be) and protecting your account. Because you will be buying Bitcoin directly from other users, you don’t need to deposit either fiat or crypto on the platform.

To register with the platform, go to the Sign-up tab on the main page of the marketplace (called Dashboard):

In the box under this tab, enter your email and password (make sure it is a strong and unique one):

You should receive a confirmation link into your email shortly (if you don’t, check your Spam folder). To activate your account, click on this link and get yourself comfortable with the marketplace Dashboard: 

Your newly created account is now ready for trading. But before you start searching for offers, you can verify it under Account settings -> Security. You can confirm just your phone or verify your ID in full (remember, ID verification is optional). 

Whichever option you choose, click on the User icon in the upper right corner of the Dashboard, select Account settings from the drop-down menu, and then click Security:

While there, take your time to enable security settings as well. Bitpapa does its part to keep your Bitcoin safe at all times, but the security of your account should be your priority too. Protect your account by enabling 2FA and setting an anti-phishing word. 


Step 2. Find an Offer


To buy Bitcoin with Naira, click Buy on the Dashboard (1), choose the currency in the third field of the Filter form (2) and click the Buy button on the right side of the selected seller (3):

Hint: The emoji under the user name shows the user’s rating on the marketplace – it allows you to quickly evaluate the reliability of your would-be counterpart. A smiling face represents positive feedback, a frowning one negative. 


Make trades only with those sellers who have the highest scores of positive feedback.


Step 3. Buy BTC with Credit Card

In general, the process of buying crypto via a p2p trade consists in negotiating the trade terms with the seller. On a p2p marketplace, some of these terms, such as price and payment method, are already set beforehand by the seller, and you agree to them when you click on the Buy button as shown above.

Other terms, like the amount of crypto (1) that you intend to buy, you set yourself in the trade form that opens after you click the Buy button:

In this case specifically, we will use Chipper Cash as a payment method. Chipper Cash is a 

a cross-border payment system, operating in the UK and across a number of African countries including Nigeria. It allows you to link any mobile money or bank account/card, and it offers its own virtual Visa card, which can be used for payments in p2p trades as well. 

Under this method, the cryptocurrency seller is expected to tell you his Chipper Cash account details in the trade chat that becomes available when you click the Send a trade request button (2):


After you receive this information, you make the payment and click the Payment sent button:


The seller then checks the payment and if everything is okay, he releases the escrowed coins, which are instantly credited to your Bitpapa account:

The trade is finished and you can leave feedback as well as withdraw the coins to an external wallet. Or you can hold them on the platform and sell the crypto later when the price has risen enough to bring you profit.


Please note that you can cancel the trade by clicking the Cancel the trade button before the Seller closes the trade by releasing the coins. In that case, the escrowed coins are released back to the seller and the trade is annulled. However, after you have already made the payment, you won’t be able to get your money back unless the seller agrees to reimburse you on his own accord.


The marketplace doesn’t charge any trading fees, although you may be charged some money by the payment system you use to transfer funds. Just in case, Chipper cash allows free local transfers. 


Why Bitpapa


Bitpapa stands out from other global p2p marketplaces in that it doesn't force you to go through an obligatory identity verification process. This process can be both cumbersome and dangerous – the leaks and thefts of sensitive personal information have become common these days (Binance being the best possible example of this kind). 


On the other hand, it is not different from other such platforms as far as its prices and payment methods are concerned – the other two most important metrics that you should take into account when looking for a marketplace to trade on. It has also been active since 2018 and earned its reputation as a reliable and trustworthy service.


In this case, Bitpapa is a practical alternative for the established Nigerian crypto users, and perhaps the best choice for those who are only making their first steps in crypto.




Q: How to Choose the Best Platform for BTC Trading?

A: In choosing the best trading platform, pay attention to such things as exchange rates (price), supported payment methods, liquidity (available offers), overall reliability of the platform (feedback from other users).


Q: What Other Payment Method Can I Use to Buy Bitcoins on Bitpapa?

A: Typically, if you can pay with a debit/credit card to buy Bitcoin, you can pay with a bank transfer as well. On Bitpapa, in addition to a debit/credit card, you can use such payment methods as BitPesa, ApplePay, Chipper Cash and cash.  


Q: How Can I Buy Bitcoins With Visa?

A: Visa is a payment card issued by a bank and most p2p marketplaces support buying Bitcoin with such cards.   


Q: How Do I Sell Bitcoin in Nigeria on Bitpapa?

A: If you can buy Bitcoin on Bitpapa, you can sell it there too. The process is essentially the same as buying cryptocurrency, but instead of searching for offers to sell you Bitcoin, you will be looking for offers to buy it from you.