Which ID verification type should I use?

To ensure security and smooth customer experience, we require customers to verify their identity. For ID verification, you will be required to enter your National Identification Number (NIN), usually a 10‑digit number, your verification will be completed within minutes. To get your NIN Dial *346*1# from a SIM card registered to you.

Does this platform offer a promotional program or bonus for inviting friends to download the app using my unique referral code?

Yes! iPayBTC offers a referral program where you can earn rewards for inviting friends to download the app using your unique referral link. Here’s how it works: 1. Go to the iPayBTC app and find your refer and earn feature 2. Share the link with friends, family, or your network. 3. Earn rewards when they sign up and complete their first transaction!

What is Satoshi converter?

A Satoshi Converter helps you convert Bitcoin to its smallest unit, Satoshis (sats). Example: 1 BTC = 100,000,000 Satoshis. iPayBTC provides an easy way to check these conversions!

What is a bitcoin address?

A Bitcoin address is a unique string of letters and numbers used to send or receive Bitcoin. Think of it as your "crypto bank account number."

What is the minimum Bitcoin amount required to create a wallet or initiate a transaction?

No minimum balance is required to create an iPayBTC wallet. The minimum amount depends on network fees and transaction type.

My Google authenticator code is not working, what should I do?

Go to Google Authenticator and delete the Google auth Try resyncing your codes in the Authenticator app. If you recently changed devices, disable and re‑enable 2FA from your account settings. Still having issues?, Contact iPayBTC Support for account recovery assistance.

Can I change my name after verification?

After your name has been verified with your legal documents, you cannot change your name again. If there has been an error with the verification, you can reach out to support with an updated copy of the accurate ID documents

My lightning send‑out attempts are failing, why?

Contact iPayBTC support immediately.

How to send Bitcoin (On chain)?

Log in to your iPayBTC account. Navigate to "Send Bitcoin" in your wallet. Choose On‑Chain Network for the transaction. Enter the recipient’s Bitcoin address (double‑check to avoid errors). Input the amount you want to send. Review transaction details and confirm. The transaction will be processed and recorded on the Bitcoin blockchain

What is a bitcoin transaction hash?

A Bitcoin transaction hash (TXID) is a unique identifier assigned to every Bitcoin transaction. It is a 64‑character hexadecimal string (made up of numbers and letters a–f) that serves as a fingerprint for a specific transaction and can be used to track the status of a bitcoin transaction on the blockchain

What is the minimum and maximum amount I can send or receive via the lightning network?

Minimum Amount: No minimum—you can send or receive any amount of Bitcoin. Maximum Amount: You can send up to 150,000 sats (0.0015 BTC) per transaction, and receive any amount

My email is not accepted for sign up, what should I do?

Double‑check that you're entering a valid and correctly formatted email. Avoid temporary or disposable emails—iPayBTC only accepts trusted email providers. If the issue persists, try a different email or contact iPayBTC Support.

Can I change my phone number or Email?

No, you can’t change your email or phone number, kindly contact support for such a request.

My ID verification process is not working, why?

Ensure your ID type is supported. Make sure your personal details are not mismatched. Sometimes, ID checks take longer due to high demand. If it's been more than 24 hours, contact iPayBTC Support.

My verification has been pending for a long time.

Usually, we complete verification after 5 to 10 minutes of submitting the required documents. If it is taking longer, this may be due to downtime on the verification chain, which is usually resolved in no time. If verification is pending for more than 24 hours, kindly reach out to our support directly to investigate the situation.

How to send Bitcoin (Lightning network)?

Log in to your iPayBTC wallet. Click on "Send Bitcoin" and select "Lightning Network." Paste the recipient's Lightning Invoice or URL. Enter the amount you want to send. Review transaction details and confirm the payment. Done! Your Bitcoin is sent instantly with minimal fees.

Download the iPayBTC app or visit the official website ipaybtc.app Click on "Sign Up." Enter your email and create a strong password. Verify your email/phone with the OTP sent to you. Set up Two‑Factor Authentication (2FA) for extra security (recommended). Verify your account with the KYC feature You're all set! Start trading and transacting with Bitcoin.

What is a bitcoin wallet?

A Bitcoin wallet is a digital tool that allows you to store, send, and receive Bitcoin securely. iPayBTC provides a user‑friendly wallet to manage your BTC effortlessly.

I have not received the payment made to me via lightning, why?

Wait a few minutes and check again. Ask the sender for a transaction ID and confirm if it was completed. If the issue persists, contact iPayBTC Support with the transaction details.

What is a lightning network?

The Lightning Network is a second-layer solution for Bitcoin that enables fast, low‑fee transactions.

What is refer and earn?

iPayBTC’s referral program rewards you for inviting friends to join. Simply share your unique referral link and earn rewards when they sign up and complete transactions.

P2P (Peer‑to‑Peer) trading allows users to buy and sell Bitcoin directly with each other, without a middleman. IpayBTC’s P2P marketplace ensures secure and smooth transactions.

What type of cryptocurrency can I trade on iPayBTC?

Currently, iPayBTC supports Bitcoin (BTC) trading through P2P, Lightning Network, and on‑chain transactions. More assets may be added in the future!

A partner sent me some Bitcoin and I have not received it in my iPayBTC wallet

If you have this experience, kindly reconfirm if payment was sent to the correct address you provided from your iPayBTC wallet. For unusual long periods, kindly reach out to our support. Alternatively, transactions on the Bitcoin blockchain can be publicly tracked on the mempool using the transaction hash.

My OTP for sending out is not arriving on my phone?

If you’re not receiving your OTP (One‑Time Password) when trying to send Bitcoin, try these steps: • Check Network Signal — Ensure you have a strong mobile network connection. • Confirm Phone Number — Verify that your registered phone number is correct in iPayBTC settings. • Resend OTP — Wait for 30‑60 seconds and tap "Resend OTP" to try again. • Check Spam Messages — Some SMS providers may filter OTP messages. • Try a Different Method — email OTP or Google Authenticator. Still not working? Contact Support.

What are value added services?

iPayBTC’s Value‑Added Services let you use Bitcoin for everyday expenses like: • Buying airtime & data • Paying electricity bills • Satoshi converter

My Bitcoin send‑out is pending for a long time

Usually, Bitcoin transactions are processed based on the Bitcoin blockchain processing time, so we do not have control over the time the transactions are processed. When the pool is congested, it might take a longer period to process a transaction. If your withdrawal is taking an unusually long period, kindly reach out to our support.

What is KYC verification?

KYC (Know Your Customer) is a process where users verify their identity for security and compliance. It helps prevent fraud and ensures a safer platform for all iPayBTC users.

What is the maximum Bitcoin balance I can hold in my wallet?

There is no fixed limit on how much Bitcoin you can hold in your iPayBTC wallet. However, always ensure you follow security best practices for safe storage.

What is the minimum Bitcoin amount I can send or receive in a single transaction?

For Lightning payments, the minimum is typically a few satoshis (smallest Bitcoin unit). For on‑chain transactions, the minimum depends on network fees at the time of sending.

How do I enable two‑factor authentication for my account?

Protect your account with 2FA: • Go to Settings > Security > Enable 2FA. • Download Google Authenticator or Authy. • Copy the secret key or the QR code provided by iPayBTC. • In the Authenticator app, paste the key and label it “iPayBTC”. • Copy the 6‑digit code and sync it with iPayBTC. 2FA is now activated!

What is Onchain network?

The On‑Chain Network refers to Bitcoin transactions that are processed directly on the Bitcoin blockchain. These transactions are secure but can take longer due to network congestion.

What is a LN Address?

An LN (Lightning Network) address works like an email for Bitcoin Lightning transactions. It allows users to send and receive BTC instantly over the Lightning Network.

What happens if I send bitcoin to a wrong address?

Unfortunately, Bitcoin transactions are irreversible. Once sent, funds cannot be retrieved unless the recipient willingly sends them back. What You Can Do: 1. Double‑check the address before confirming. 2. If you know the recipient, contact them immediately and request a refund. 3. If the address is invalid, the transaction may fail, and your Bitcoin will remain in your wallet. 4. If the address is valid but incorrect, your funds are lost unless the owner returns them.

I am not receiving any emails in my registered mail. Why?

Check your spam/junk folder—sometimes emails get filtered. Ensure your email storage isn’t full. If using work or school emails, your admin may be blocking external messages. Try adding iPayBTC’s email to your safe sender list.

How can I dispute a trade on iPayBTC?

If there’s an issue with your P2P transaction: • Go to the Trade History section. • Click on the affected order and select “Raise a Dispute.” • Provide necessary details and evidence (screenshots, payment proof). Our support team will review and resolve the dispute promptly.

How to receive Bitcoin (lightning network)?

Go to your iPayBTC wallet and click "Receive Bitcoin." Select "Lightning Network." Enter the amount you wish to receive. Generate and copy your Lightning Invoice (QR code or payment request link). Share it with the sender. Once completed, you'll receive Bitcoin instantly!

How to receive Bitcoin (on chain)?

Go to your iPayBTC wallet and click "Receive Bitcoin." Select On‑Chain Network. Your unique Bitcoin wallet address will be displayed. Copy the address or scan the QR code to share with the sender. Once completed, you’ll receive the Bitcoin after confirmation on the blockchain.

My P2P order is complete, but I did not receive the equivalent Bitcoin in my wallet.

Step 1: Check your transaction history in the app. Step 2: Ensure the seller has marked the trade as completed. Step 3: If your order still isn’t credited, contact iPayBTC Support immediately.

How to trade Bitcoin in Nigeria

Bitcoin is no longer just a buzzword; it’s a lifestyle, an investment tool, and for many Nigerians, a new way to build wealth. If you’ve ever wondered how to trade Bitcoin in Nigeria, you’re not alone. It might seem intimidating at first, but with the right guide, you can dive in with confidence.

What is Bitcoin trading?

Let’s keep it simple. Bitcoin trading means buying Bitcoin at a low price and selling it when the price goes up. It's not about holding for the long term—that’s investing. Trading is short-term and profit-focused, like buying and flipping land fast instead of holding it for years.

Why Nigerians are getting into Bitcoin trading

1. Inflation: With the naira losing value, Bitcoin gives people an alternative.

2. Job opportunities: Some Nigerians now make a living through crypto.

3. Global access: Bitcoin trading connects you to global markets 24/7.

4. Low barriers to entry: With as little as ₦1,000, you can start.

Is Bitcoin trading legal in Nigeria?

Short answer: Yes, but with conditions.

While the Central Bank of Nigeria (CBN) banned banks from handling crypto transactions, trading on peer-to-peer (P2P) platforms is still legal. You just can’t link your Nigerian bank account directly to an exchange.

Bitcoin Trading vs Bitcoin Investing

Before jumping in, know the difference:

Trading: Short-term. Quick profits. Requires attention to market trends.
Investing: Long-term. You buy and hold, hoping the price rises over months or years.

Both have their place, but if you enjoy strategy and fast action, trading may be your thing.

How to start trading Bitcoin in Nigeria

Let’s break it down into practical steps.

Step 1: Choose a reliable crypto platform

Your trading journey begins with a solid platform. Look for ones that offer:

1. Low fees

2. P2P trading

3. Good liquidity

4. User-friendly interface

5. High security

Top exchanges Nigerians use

Binance: Offers P2P, spot trading, and futures
KuCoin: Popular for altcoin trading
OKX: Clean interface and low fees
Paxful: Excellent for beginner P2P trades

Step 2: Create and verify your account

After picking a platform:

1. Sign up using your email or phone.

2. Upload ID (NIN, passport, etc.)

3. Take a selfie for facial verification

4. Enable Two-Factor Authentication (2FA)

Verification builds trust and gives access to higher trade limits.

Step 3: Fund your wallet

Since direct naira deposits are restricted, here are your options:

1. Use P2P to buy crypto from other users

2. Trade gift cards for crypto (on Paxful or Remitano)

3. Use stablecoins like USDT as your base currency

Always double-check seller reviews and only deal within the platform's escrow system.

Step 4: Choose a trading Strategy

There’s no one-size-fits-all. Pick what works for your schedule and risk tolerance.

Day trading

Buy and sell within the same day. High risk, high reward.

Swing trading

Hold for days or weeks, waiting for bigger price swings.

Arbitrage

Buy Bitcoin from one platform at a low price and sell on another at a higher price.

Each strategy requires discipline, research, and emotion control. No gambling here.

Step 5: Start trading Bitcoin

Once funded, go to the “Trade” or “Markets” tab:

1. Select BTC/USDT (or BTC/NGN if available)

2. Set your buy price (limit) or buy instantly (market)

3. Wait for your order to fill

4. Sell at your target profit

Always use stop-loss orders to protect your capital from sudden drops.

Best platforms to trade Bitcoin in Nigeria

Here's a quick list of trustworthy platforms:

1. Binance: Advanced tools, P2P, global reach

2. Paxful: Easy P2P for beginners

3. Quidax: Nigerian-owned with NGN support

4. Remitano: Smooth user interface and support

Stick to platforms with strong reviews, active Nigerian users, and fast support.

Tools every Bitcoin trader needs

1. TradingView: For chart analysis

2. CoinMarketCap or CoinGecko: To track market data

3. Telegram/Discord groups: For market sentiment and updates

4. Crypto news apps: Stay informed about global events affecting prices

These tools help you trade smart, not blind.

Risks involved in Bitcoin trading

Let’s be real, trading comes with risks:

1. Volatility: Bitcoin prices swing wildly

2. Scams: Especially on P2P if you're careless

3. Market manipulation: Whales can cause fake pump and dumps

4. Emotional decisions: Fear and greed can ruin your strategy

Trade only what you can afford to lose and never chase losses.

Tips for successful Bitcoin trading in Nigeria

1. Start small: Test the waters before going big

2. Use a strategy: Don’t trade based on vibes

3. Set stop-losses: Protect your downside

4. Don’t panic: Bitcoin always bounces… eventually

5. Take profits: Don’t get greedy

Discipline beats luck every time.

Common mistakes beginners make

1. Trading without learning the basics

2. Using all their capital in one trade

3. Falling for pump-and-dump groups on Telegram

4. Not tracking their trades

5. Ignoring fees, which can eat into profits

Avoid these and you’ll be ahead of 90% of beginners.

Conclusion

Learning to trade Bitcoin in Nigeria can be a powerful way to grow your income, protect against inflation, and build financial freedom. While it's not a get-rich-quick scheme, it rewards discipline, patience, and knowledge. Whether you're using P2P platforms or diving into technical analysis, remember: smart trading is consistent trading. Take your time, avoid shortcuts, and stay informed.

FAQs

1. How much money do I need to start trading Bitcoin in Nigeria?

You can start with as little as ₦1,000, especially on P2P platforms.

2. Can I trade Bitcoin on my phone?

Absolutely. Most platforms have mobile apps that work smoothly.

3. What’s the safest way to trade Bitcoin in Nigeria?

Use verified P2P platforms with escrow and always confirm user ratings.

4. Can I make a full-time income trading Bitcoin?

Yes, but it takes time, experience, and a well-planned strategy.

5. Do I pay tax on Bitcoin profits in Nigeria?

Currently, there's no official tax guideline, but stay updated with local laws.