Find answers to the most common questions about using Bucapay. If you can't find what you're looking for, please contact our support team.
Bucapay is a digital platform that makes it easy to:
- Buy and sell crypto directly with Naira
- Borrow naira instantly with your crypto
- Trade goods and services with escrow protection
- Make payments and settle bills from your Bucapay wallet
- Access AI-powered tools (coming soon)
Creating a Bucapay account is simple:
1. Download the Bucapay app or visit bucapay.com
2. Click Sign Up
3. Enter your full name, valid email, and phone number
4. Create a strong password
5. Verify your email/phone
6. Accept the Terms & Conditions and submit
Your account is now active! Next step: complete verification (KYC).
Bucapay has 3 KYC verification levels:
**Level 1 – Basic:**
- Requirement: Bank Verification Number (BVN)
- Limits: Unlimited Crypto deposits/naira deposits, ?50,000 maximum withdrawal
**Level 2 – Standard:**
- Requirement: Government-issued ID (NIN, BVN, Passport, Driver's license)
- Limits: Higher deposits, access to escrow and payments
**Level 3 – Advanced:**
- Requirement: Proof of address + facial verification
- Limits: Full access, including loans
Account verification (KYC) is required to:
- Comply with regulatory requirements
- Protect your account from fraud
- Increase your transaction limits
- Access premium features like loans and escrow services
- Ensure the security of the Bucapay platform for all users
Higher verification levels unlock more features and higher transaction limits.
Follow these security best practices:
- Enable Two-Factor Authentication (2FA)
- Use a strong password with numbers and symbols
- Never share your login details with anyone
- Bucapay will never ask for your password or private keys
- Report suspicious activity immediately through support
- Keep your email and phone number updated
- Log out from shared devices
If you notice any suspicious activity on your account:
1. Change your password immediately
2. Enable Two-Factor Authentication (2FA) if not already active
3. Contact Bucapay support through the ticket system
4. Review your recent transactions and report any unauthorized activity
5. Do not respond to suspicious emails or messages claiming to be from Bucapay
Remember: Bucapay will never ask for your password, PIN, or private keys.
To deposit crypto:
1. Go to Wallet ? Deposit
2. Choose the crypto you want to deposit
3. Copy your unique wallet address or scan the QR code
4. Send crypto from your external wallet
?? **Important:** Always confirm the correct network (e.g., USDT-TRC20, ERC20) before sending.
To deposit Naira:
1. Go to Wallet ? Deposit (NGN)
2. Choose Bank Transfer or Debit Card
3. Enter the amount
4. Complete payment via secure gateway
5. Your wallet will be credited instantly
Naira deposits are free, though your payment gateway may charge fees.
**Withdraw Naira:**
1. Wallet ? Withdraw ? NGN
2. Enter amount
3. Enter bank details or choose from saved bank accounts
4. Confirm withdrawal
Withdrawal fees: ?50 flat for Naira, network fees apply for crypto.
**Fees:**
- Trading Fee: 0.5% per transaction
- Naira Deposit: Free (payment gateway may charge)
- Naira Withdrawal: ?50 flat
- Crypto Withdrawal: Depends on blockchain network fee
**Limits:**
Limits vary based on your KYC verification level:
- Level 1: ?50,000 maximum withdrawal
- Level 2: Higher limits, access to more features
- Level 3: Full access with highest limits
To buy crypto:
1. Go to Trade Page and choose your preferred coin
2. Select Buy
3. Enter the amount
4. Confirm the rate
5. Complete the purchase
The crypto will be added to your Bucapay wallet instantly. A 0.5% trading fee applies.
To sell crypto:
1. Go to Trade Page and choose your preferred coin
2. Select Sell
3. Enter the amount
4. Confirm the rate
5. Confirm sell
Naira proceeds will be credited to your Bucapay wallet instantly. A 0.5% trading fee applies.
**Bucapay Loans:**
- Borrow up to 50% of your crypto balance in Naira
- Your crypto is used as collateral and locked until repayment
- Once repaid, crypto is released back instantly
**Eligibility:**
- Level 2 KYC or higher required
- Must hold supported crypto in Bucapay wallet
**Example:** If you have ?200,000 worth of USDT, you can borrow up to ?100,000 in Naira.
To request a loan:
1. Go to Loans section
2. Tap Borrow
3. Enter loan amount (up to 50% of your crypto balance)
4. Review loan details
5. Confirm request
6. Your Naira wallet is credited instantly
Your crypto will be locked as collateral until you repay the loan.
To repay a loan:
1. Go to Loans ? Active Loans
2. Select the loan to repay
3. Repay from your Naira wallet
4. Once paid, your collateral is released instantly
**Important:**
- Daily reminders start 7 days before repayment due
- If you miss repayment, locked crypto will be used to cover the loan
- Repeated defaults may affect future loan access
**Listing Products or Services:**
1. Go to Marketplace ? List Item
2. Enter name, description, price, and images
3. Confirm and publish
4. Buyers can now view and purchase
**Buying Products or Services:**
1. Browse Marketplace
2. Select an item
3. Tap Buy Now
4. Choose payment method (Naira/USDT)
5. Funds are held in escrow until delivery is confirmed
To create an Escrow Link:
1. Go to Marketplace ? Create Escrow Link
2. Enter details (buyer info, amount, description)
3. Share the secure link with the other party
4. Payment is held in escrow until both sides confirm completion
Escrow protects both buyers and sellers by holding funds securely until the transaction is completed.
Bucapay supports payment for:
- Airtime & Data
- Electricity bills
- Internet subscriptions
- TV subscriptions (DSTV, GOTV, Startimes)
More bill payment options coming soon!
To pay bills:
1. Go to Bills section
2. Select bill type (airtime, electricity, internet, TV)
3. Enter required details (phone number, meter number, etc.)
4. Enter amount
5. Choose payment method
6. Confirm payment
Payments are processed instantly and you'll receive confirmation.
Bucapay supports major cryptocurrencies including:
- Bitcoin (BTC)
- Ethereum (ETH)
- USDT (Tether)
- And other popular cryptocurrencies
You can buy, sell, store, and use these cryptocurrencies for trading, loans, and payments on the platform.
A blockchain network is the infrastructure on which cryptocurrency transactions occur. Different networks have different characteristics:
**Why it matters:**
- Each cryptocurrency can exist on multiple networks
- Transaction fees vary by network
- Transaction speeds differ
- You must send crypto to the correct network address
**Example:** USDT can be sent via:
- TRC20 (Tron network) - Lower fees
- ERC20 (Ethereum network) - Higher fees
?? Always verify the network before sending crypto to avoid loss of funds.
To update your account information:
1. Go to Profile/Settings
2. Select the information you want to update
3. Make your changes
4. Save the updates
**You can update:**
- Email address
- Phone number
- Bank account details
- Password
- Profile picture
Some changes may require verification for security purposes.
To enable 2FA:
1. Go to Settings ? Security
2. Select Two-Factor Authentication
3. Choose your preferred method (SMS or Authenticator App)
4. Follow the setup instructions
5. Save backup codes in a secure location
2FA adds an extra layer of security by requiring a second verification code when logging in.
If you've forgotten your password:
1. Go to the login page
2. Click 'Forgot Password'
3. Enter your email address
4. Check your email for the reset link
5. Click the link and create a new password
6. Log in with your new password
For security reasons, make sure to create a strong password with numbers, symbols, and mixed case letters.
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