Fun

3 Debit Cards Nigerians Can Use to Spend Cryptocurrencies in Stores and Online

News Feed - 2020-03-20 05:03:22

3 Debit Cards Nigerians Can Use to Spend Cryptocurrencies in Stores and Online


Options to acquire cryptocurrencies in Nigeria have been growing in number, along withincreasing interest in bitcoin. Nigerians are also starting to see more opportunities to spend their coins in brick and mortar stores and at online merchants. Three crypto debit cards are now available to the residents of the African nation which is also the continent’s largest economy.


Also read:Nigerians Can Now Buy Bitcoin With Cash From Stores and ATMs That Take Naira Crypto Exchange App First Kudi Issues Debit Card in Partnership With Stanbic IBTC Bank


Nigerian company First Kudi offers users a currency exchange and payments app. The mobile software facilitates purchases and sales of cryptocurrencies with Nigeria’s national fiat, the naira, and U.S. dollars. Users can link their bank account or credit card to the application which allows them to transact between Kudi wallets free of charge, deposit and withdraw funds from other crypto wallets and fiat accounts, and make payments at POS terminals.



Formerly known as Kudi Exchange, the fintech platform is owned by TLG Ventures in partnership with Ferrum Network and operates from Lagos. Besides the fiat options, which also include Ghanaian cedi and Kenyan shilling, its app supports bitcoin core (BTC), ethereum (ETH), the stablecoin Gemini dollar (GUSD), and the native Ferrum Network Token (FRM).


First Kudi now issues a debit Kudi Card in partnership with Nigeria’s Stanbic IBTC bank, member of Stanbic IBTC Holdings and Standard Bank Group, a South African financial services provider and Africa’s largest banking group. Holders can use the card to turn crypto into traditional money or buy goods and services with bitcoin and naira. Its balance can be topped up directly from the Kudi Wallet.


A Kudi account is needed to order and use the wallet and the Verve enabled card, and users need to pass KYC. The procedure involves providing full name, email address, and phone number, the Nigeria Bitcoin Community portal details. Certain fees apply to some transactions with First Kudi. Bitcoin withdrawals to another wallet are charged 0.0005 BTC per transfer. Withdrawing fiat to a bank account will cost you 100 NGN ($0.27) for naira and $10 for U.S. dollars. The POS transaction fee for bitcoin, naira, and dollars is 0.50%. Patricia and Crypterium Provide Nigerians With More Crypto Card Options


Demand for this type of service in Nigeria, where around half of the population remains unbanked, is creating conditions inviting other offerings in the market. Patricia, a Nigerian e-commerce platform that started with gift cards trading, has set out to make it easy for customers to buy and sell bitcoin, as its website notes. The company behind it, Patricia Technologies, recently announced the launch of a new crypto debit card.


The Patricia Bitcoin ATM Card will allow users to withdraw cash directly from their BTC and Nigerian naira wallets, make POS payments and online transactions, transfer funds through teller machines like with any other debit card issued by a traditional bank, PM News Nigeria reported in late February. Registration is required to obtain the card.



Affirming the startup’s commitment to financial inclusion, Patricia founder Fejiro Hanu Agbodje acknowledged that payments won’t change overnight and predicted a long transitional period before the world starts to transact in digital currencies. That’s why his team focuses on combining digital infrastructure with existing card processing and banking infrastructure as a step towards mass adoption of cryptocurrencies. The Nigerian entrepreneur pointed out that Patricia card users will have access to cash and be able to pay bills, make over-the-counter transactions, and buy subscriptions. Agbodje further stated: We will allow you to spend your bitcoin anytime, everywhere and anywhere.


Nigerians have another option to use cryptocurrencies through a debit card. Crypterium, an Estonia-based crypto payment and wallet provider, issues the Global Bitcoin Card, which allows holders to spend cryptocurrencies at merchants and withdraw fiat cash from ATMs in almost 180 countries around the world, as news.Bitcoin.com recently reported. The card, which is powered by the payment processor Unionpay, currently supports several major cryptocurrencies: BTC, ETH, LTC, as well as Crypterium’s own CRPT token.


To get the card you need to download the Crypterium wallet first and install it on your phone. To receive a download link, you have to provide your phone number. The app comes with a virtual card and the plastic one can be ordered separately. The platform delivers worldwide, including many countries not supported by other crypto card issuers. Nigeria is on the list along with other nations with potential to become important crypto markets such as India and Brazil. In November, Coinsutra reported that users of its portal from these countries have been able to obtain the debit card.


Do you know of other cryptocurrency debit cards available in Nigeria? Let us know in the comments section below.


Disclaimer:This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Images courtesy of Shutterstock.


Do you need a reliable bitcoin mobile wallet to send, receive, and store your coins?Download one for freefrom us and then head to ourPurchase Bitcoin pagewhere you can quickly buy bitcoin with a credit card. Share this story: Tags in this story App, card, cards, Crypterium, crypto, crypto card, Crypto Cards, crypto debit card, crypto debit cards, Cryptocurrencies, Currency Exchange, Debit Card, debit cards, Exchange, First Kudi, Gift Cards, Nigeria, Nigerians, Patricia, Payments, spend, Wallet Related Blockchain.com Will Allow Retail Wallet Users to Borrow USD Stablecoins With Cryptocurrency SERVICES | Avi Mizrahi


The digital assets lending field seems to be heating up with Blockchain.com starting to offer lending directly to retail consumers… read more. SLP Token Fuels Scooter Rental Business in Taiwan, Investors to Get Their Dividends in BCH SERVICES | Lubomir Tassev


A company running a small scooter rental service in Taipei, Taiwan’s capital city, has minted an SLP token on the… read more. Lubomir Tassev


Lubomir Tassev is a journalist from tech-savvy Bulgaria. Quoting Hitchens, Lubomir says: ”Being a writer is what I am, rather than what I do.“ International politics and economics are two other sources of inspiration. Please enable JavaScript to view the comments powered by Disqus.

News Feed

A Look at How Buckminster Fuller Predicted Bitcoin: ‘A Realistic, Scientific Accounting System of What Is Wealth’
A Look at How Buckminster Fuller Predicted Bitcoin: "A Realistic, Scientific Accounting System of What Is Wealth" Richard Buckminster Fuller was a well known American architect, sy
Wild Satoshi Theories: The Curious Case of Bitcoin Block 3654 from 2009
Wild Satoshi Theories: The Curious Case of Bitcoin Block 3654 from 2009On Wednesday, 50 bitcoin mined on February 9, 2009, was moved from the original address to a new address. The
Arijit Sarkar12 hours agoSantander offers Bitcoin, ETH trading for Swiss account holders: ReportHigh-net-worth individuals of Santander Private Banking International will have access to trade BTC and ETH, according to a
Tristan Greene6 hours agoDAOs can help scientists find funding and community, says Nature science journalDecentralization could help bring scientists in underfunded fields and locations to the table without requiring rel
Why did Fetch and SingularityNET AI-tokens just surge 30%?
Zoltan Vardai7 hours agoWhy did Fetch and SingularityNET AI-tokens just surge 30%?Both AI tokens Fetch and SingularityNET staged a strong price recovery after a three-month downtrend.1613 Total views2 Total sharesListen
Bitcoin Mining Firm Luxor Launches ASIC Trading Desk
Bitcoin Mining Firm Luxor Launches ASIC Trading Desk On January 11, 2022, the Washington-based bitcoin mining operation Luxor announced the launch of a new application-specific int
Bank of Russia, Finance Ministry Agree on Crypto Mining Regulation, Law Expected Soon
Bank of Russia, Finance Ministry Agree on Crypto Mining Regulation, Law Expected Soon Major government institutions in Moscow, the central bank and the finance ministry, have align
NYCB stocks flip wildly as banks brace for end to fed bailouts
Martin Young4 hours agoNYCB stocks flip wildly as banks brace for end to fed bailoutsStock prices for the embattled lender have slumped 83% since the beginning of 2024, hitting an all-time low this week before rebounding
Twitch Director Shaan Puri Moves 25% of Net Worth Into Bitcoin to ‘Front Run Wave of Institutional Capital’
Twitch Director Shaan Puri Moves 25% of Net Worth Into Bitcoin to "Front Run Wave of Institutional Capital" Twitch director and former CEO of Bebo Shaan Puri ann
LBank Exchange Will List FutureCoin (FUTURE) on February 9th, 2022
LBank Exchange Will List FutureCoin (FUTURE) on February 9th, 2022 press release PRESS RELEASE. INTERNET CITY, DUBAI, Feb. 8, 2022,LBank Exchange, a global digital asset trading pla
Biden Accuses Twitter of Spewing Lies Across the World as Elon Musk Rolls Out Twitter Blue Subscription
Biden Accuses Twitter of Spewing Lies Across the World as Elon Musk Rolls Out Twitter Blue Subscription Elon Musk has started rolling out a $7.99-a-month Twitter Blue subscription
Blacklisted Suex Addresses Received Over $900 Million in Crypto, Report Reveals
Blacklisted Suex Addresses Received Over $900 Million in Crypto, Report Reveals Cryptocurrency addresses allegedly used by Russian exchange Suex, recently placed under U.S. sanctio