Buroka makes it safe & easy to buy and sell bitcoin in Nigeria

faq

What is Buroka?

TRUSTED GATEWAY

We help connect local investors to the cryptocurrency markets using our proprietary crypto-aggregator technology.

Team

With a strong background in Financial Technology, Buroka’s team gathers top talent from all over the world to deliver the best experience to the clients, while pushing the boundaries of blockchain technology.

STP

Our cryptocurrency direct market order processing system guarantees order execution at the best price available across the top exchanges globally

How does Buroka work?

BUY BITCOIN IN 3 EASY STEPS

1 | Sign up for free and verify your account with our easy setup process.

2 | Fund your account with your local currency, you can do that by direct deposit, local bank transfer or credit card.

3 | Buy Bitcoin instantly and store it with our secure BitGo wallets or transfer it to your personal wallet of choice.

Why should I trust Buroka?

LOCAL PRESENCE

Our branch-offices are located in Lagos and Baku to ensure the best customer service and experience.

SECURE TECHNOLOGY

Powered by the latest security technology, our web-socket and API protocols allow for fast and secure order processing. Our website and client area are both secured with state of the art security protocols.

SEGREGATED ACCOUNTS

Buroka operates segregated accounts for client funds at trusted banks to ensure safety of client funds. Our accounts are monitored and audited by reputable international auditing firms.

Why should I enter my email?

We consider email to be an unique identificator, which will be used for every login into your Buroka Account, alongside with your private password, and if activated with 2 factor authenticator (2FA).

What is the 2-factor authentication?

Two Factor Authentication, also known as 2FA, two step verification or TFA (as an acronym), is an extra layer of security that is known as "multi factor authentication" that requires not only a password and username but also something that only, and only, that user has on them, i.e. a piece of information only they should know or have immediately to hand - such as a physical token. Using a username and password together with a piece of information that only the user knows makes it harder for potential intruders to gain access and steal that person's personal data or identity.

How do I delete my account?

If you at any point in time would like to delete your Buroka account, you should send an email to [email protected], asking for the deletion of the account, and the reason for which you want your account to be closed/deleted.

What's a bitcoin wallet ?

A Bitcoin wallet is also referred to as a digital Wallet. Establishing such a wallet is an important step in the process of obtaining Bitcoins. Just as Bitcoins are the digital equivalent of cash, a Bitcoin wallet is analogous to a physical wallet. But instead of storing Bitcoins literally, what is stored is a lot of relevant information like the secure private key used to access Bitcoin addresses and carry out transactions. The four main types of wallet are desktop, mobile, web and hardware. At Buroka, we store your Bitcoin for you in our segregated wallets. You will have access at any point in time to your bitcoin in order to withdraw them to your personal wallet. Withdrawals are accepted only to your personal wallet, and Buroka will not be responsible for what might happen for withdrawing to third party wallets.

What is a hash?

A hash algorithm turns an arbitrarily-large amount of data into a fixed-length hash. The same hash will always result from the same data, but modifying the data by even one bit will completely change the hash. Like all computer data, hashes are large numbers, and are usually written as hexadecimal. BitCoin uses the SHA-256 hash algorithm to generate verifiably "random" numbers in a way that requires a predictable amount of CPU effort. Generating a SHA-256 hash with a value less than the current target solves a block and wins you some coins.

How do I buy bitcoin on Buroka?

BUY BITCOIN IN 3 EASY STEPS

1.

Sign up for free on Buroka and verify
your account with our easy setup process.

2.

Fund your account with your local currency,
you can do that by direct deposit, local
bank transfer or credit card.

3.

Buy Bitcoin instantly and store it with our secure
BitGo wallets or transfer it to your personal wallet
of choice.

What is the maximal/minimal amount that can be exchanged?

On Buroka, you can exchange a minimum of 0.01 BTC, and a minimum of 0.1 ETH. There is no maximum amount limitation.

What is the maximal/minimal amount that can be deposited?

The minimal amount that can be deposited in Buroka wallet is of $50, or equivalent in local currency. There are no minimal requirements on cryptocurrency deposits.

What are network fees?

The transaction fee is received by the bitcoin miner. When a new bitcoin block is generated with a successful hash, the information for all of the transactions is included with the block and all transaction fees are collected by that miner creating the block, who is free to assign those fees to himself. Traditionally, the sender pays the full Bitcoin network fee; deducting the fee from the amount received by the recipient will often be considered an incomplete payment, although some wallets have a "sender-pays-fee" feature where the miner fee is deduced from send amount.

How do I cancel my exchange transaction?

Once an exchange transaction is made through Buroka, it cannot be canceled. After approving the exchange, your wallet will be instantly credited with the cryptocurrency, or fiat, based on the direction of your exchange, and this operation cannot be canceled.

Why does my Bitcoin withdrawal take so long?

Whenever you send someone Bitcoins, the transaction goes through different computers running the Bitcoin protocol around the world that make sure the transaction is valid. Once the transaction is verified it then “waits” inside the Mempool (i.e. in some sort of a “limbo” state). It’s basically waiting to be picked up by a Bitcoin miner and entered into a block of transaction on the Blockchain. Until it is picked up it’s considered an “unconfirmed transaction” or a “pending transaction”.

A new block of transactions in added to the Blockchain every 10 minutes on average. However since there are so many transactions lately due to the price increase, and a block can only hold a finite amount of transactions, not all transactions are picked instantly. So you need to wait for a certain amount of time until a miner decided to pick your transaction out of all of those sitting around in the mempool.