How to Buy Meme Coins in Nigeria as a Beginner

Kelechi Edeh -

The cryptocurrency buy market is buzzing with excitement as a new bull season unfolds. Bitcoin recently shattered records, trading at $91,755, sparking optimism across the entire crypto ecosystem.

This surge has reignited interest in speculative assets like meme coins, known for their viral appeal and potential for rapid gains. In Nigeria, where cryptocurrency adoption continues to grow, investing in meme coins like Dogecoin and Shiba Inu has never been easier.

If you’re curious about how to get started, here’s a guide to get started with insider tips to make the process seamless.

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9 Steps to Buy Meme Coins in Nigeria

Follow these steps to get started:

Step 1: Change Naira to USDT with P2P

  • Open a centralized exchange like Bybit or OKX–we'll use Bybit in this example–which supports peer-to-peer (P2P) transactions. Note that you don't need to fund your wallet just yet since it's P2P.
  • Click on Assets at the bottom right of your screen. Then, under Account tap Funding
  • Choose USDT (Tether).
  • Tap on P2P Trading.
  • Select who to buy from.
  • Enter the Naira (NGN) you want. Then tap Buy to confirm and enter trade
  • You'll be redirected to a screen that shows the account details of the person you need to send the Naira to. Tap Pay Now.
  • Once payment is made via your local Nigerian bank of choice, tap Payment Complete and wait for the seller to deposit the USDT equivalent of the Naira payment you made to your wallet.

Step 2: After executing the P2P transaction, tap Buy SOL to swap USDT for Solana (SOL) using Bybit spot trading.

Step 3: Now open BONKbot on Telegram and click Start.

Step 4: It’ll bring these options. Click wallet.

Step 5: Wallet will open this up. Then, click Deposit SOL

Step 6: This generates the SOL wallet address; you copy this then send Solana from Bybit here.

Step 7: Send Solana from Bybit to the wallet address copied from BONKbot. Click Withdraw and you should have funds in your BONKbot to buy a meme coin of your choice.

Step 8: Buy a meme coin by going to Dex Screener (dexscreener.com) and copy the address of the coin you want to buy.

Step 9: Paste the address in BONKbot, input the buy amount, and voila, you have bought a meme coin.

Conclusion

Trading meme coins in Nigeria is now more accessible than ever with tools like Telegram trading bots. By following this guide, you can join the excitement of meme coin trading while keeping your transactions secure and straightforward. However, remember that meme coins are highly speculative, and it’s crucial to research and trade responsibly.

Image Credit: Kelechi Edeh/Techloy.com