How to buy Bitcoin with naira by bank transfer

A Bitcoin purchase on Koinzaar is a trade with a person, paid in naira. The Bitcoin is locked in escrow before you pay, and it moves to you only after the seller confirms the money arrived.

Which board to open

Open “Buy Bitcoin in Nigeria” or “Buy Bitcoin with Nigerian bank transfer”. OPay and PalmPay offers, when someone has listed them, are on those method boards. Read the offer’s limits and the account it names before you open a trade.

What happens in a trade

Create an account and verify your email.
Open a trade. The seller’s Bitcoin for that amount moves into escrow immediately, and you can see that it is locked.
Send naira from an account in your own name, by the method the offer states, and mark the trade paid.
The seller confirms the payment in their own banking or wallet app and releases. The Bitcoin moves to your Koinzaar balance.

An expired trade is cancelled. The Bitcoin goes back to the seller. Koinzaar does not send it to the buyer because a clock ran out.

Fees

The seller pays a fee when the crypto is released: 0.5% for bank transfer and mobile money, 0.75% for e-wallets, 1% for cash and 3% for gift cards. Buyers pay no Koinzaar fee.

You pay no Koinzaar fee for buying. The seller pays 0.5% on a bank transfer or mobile-money trade when the Bitcoin is released. The rate on the offer is the price you are agreeing to.

Checks before you pay

The trade should show the Bitcoin locked in escrow before you send naira.
Pay only the account named in the trade, from an account in the same name as your profile.
Keep the payment and every message in the trade chat. A moderator cannot read a chat that happened somewhere else.
If the seller asks you to pay a different account after the trade is open, stop and open a dispute.

Questions

Can I pay with OPay or PalmPay instead of a bank transfer?

Yes, when the offer lists that method. Pay only the way the offer says, from an account in your own name. A different method is a different trade.

Where does the Bitcoin go after release?

To your Koinzaar balance. From the wallet you can withdraw it on the networks the wallet page shows are open. Koinzaar holds the Bitcoin side of the trade only; it does not hold your naira.

What does the buyer pay?

No Koinzaar fee. The seller pays 0.5% when the Bitcoin is released on a bank or mobile-money trade.

Last checked 2026-10-27.

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