Frequently Asked Questions

What service does Lumierexchange.com provide?

We provide bitcoin and ethereum buying and selling service for Nigerian customers. Our goal is to make the process of buying and selling bitcoin and ether easy and secure.

What is Bitcoin?

Bitcoin is a decentralized digital currency that is not controlled by any bank or government. Transactions are stored on a distributed ledger called the blockchain. Transactions are validated by computers on the bitcoin network; this network is very powerful and spans the globe. Bitcoin was created in 2009 and since then it has achieved global recognition. Bitcoin can be used to purchase any item where the seller is willing to accept it as payment. It can be transferred to anyone in the world very quickly and with very low fees.

What is Ethereum

Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet.

What is Ether?

Ether is similar to bitcoin in that it provides the fuel for operating the Ethereum network, much like bitcoin provides the fuel for the bitcoin network. It is a form of payment made by the clients of the platform to the machines executing the requested operations. To put it another way, ether is the incentive ensuring that developers write quality applications (wasteful code costs more), and that the network remains healthy (people are compensated for their contributed resources).

Do I need a bitcoin/ethereum wallet to use Lumierexchange.com?

Yes, Lumierexchange.com does not provide wallet services. We prefer to allow customers to choose their own bitcoin wallet from the options available. All you need to do when you place an order is provide your wallet public address so we know where to send your bitcoin.

How do I create a bitcoin wallet?

There are many bitcoin wallet options available. Lumierexchange.com does not recommend any particular one but for new users an online web wallet is the easiest option. You can click on any of the links below to create a free bitcoin wallet: Blockchain, Coinbase.

I am new to bitcoin; how can I buy some?

Bitcoin can be a little confusing for new users. Lumierexchange.com tries to make the process of buying bitcoin quick and easy, however there are a few steps you need to follow. We have put together a document to guide you through the whole process.