Bitcoin News

Bitcoin Price In Nigeria Today

The current crypto market downturn has seen a fall in the prices of cryptocurrencies including the largest and most popular, Bitcoin.

Many people in the world today want to hold bitcoin for many reasons among which is to have it as a store of value. BTC is also a cryptocurrency people want to buy and sell to make passive income.

The fact that bitcoin has real use cases makes it one to buy for many investors/traders.  Despite the recent turmoil in the crypto industry, some feel this is the best time to buy crypto assets. Investors buy the dip to make more money in the long run when the prices of crypto soar again.

Some Nigerian investors/traders are still acquiring bitcoin and other crypto assets in this period just as a software company, Microstrategy, bought $6 million BTC recently.

In this post, you’ll get to know the Bitcoin price in Nigeria today as well as where to buy and sell bitcoin. Before then, let’s know more about bitcoin.

What is Bitcoin?

Bitcoin is a decentralized virtual or digital currency, without a central bank or single administrator. It can be sent from user to user on the p2p bitcoin network without the need for intermediaries.

The cryptocurrency was invented in 2008 by a person or group of people with the name pseudonym Satoshi Nakamoto. Bitcoin began to use in 2009 when its implementation was released as open-source software.

As of today, Bitcoin is the largest and most popular cryptocurrency. Several other coins have been created using its model and are known as altcoins i.e. alternative currency.

Satoshi Nakamoto capped the number of bitcoins that could be created at 21 million. As of today, there are 19,157,262 BTC in circulation. It’s expected that all remaining bitcoins will be released by 2140.

Bitcoins are being mined to add new blocks by using powerful and energy-consuming hardware. This has been a concern and has made many nations of the world not legalize cryptocurrency.

Bitcoin Price in Nigeria Today

The prices of commodities and assets have soared in Nigeria due to the naira/USD exchange rate. The current price of bitcoin has turned on red indexes for most of the year. As of writing, the price of bitcoin is $18, 738.68.

The price of 1 BTC in Nigerian Naira [NGN] as of writing is 8,060,750.29 NGN. The rate of BTC however differs from one crypto exchange and trading platform to another.

Where Can I Buy Bitcoin in Nigeria?

It is no longer news that you can’t do crypto transactions in Nigerian financial institutions. However, you can buy bitcoins easily online.

There are crypto exchanges where you can buy bitcoin and several other crypto assets. Binance is however one of the best platforms to buy bitcoins. There you will find several Nigerians making use of the exchange for their crypto trading.

You can download the Binance app and understand how you can trade Bitcoin on Binance.

Where Can I Sell Bitcoin in Nigeria?

Many who hold bitcoin today are looking for where to sell Bitcoin in Nigeria and convert it to cash without worrying about cryptocurrency volatility. It is also important to look for a trusted and reliable platform to buy and sell cryptocurrencies such as Bitcoin.

Since the Central Bank of Nigeria [CBN] has given an order against crypto activities in financial institutions, crypto trading platforms have grown. These include scammers who bet on robbing people of their hard-earned money. This is why crypto traders and investors need to make research on where to trade cryptocurrencies.

Traders can simply use the bitcoin trading app to make money while trading. Traders always look for a place to that meets their requirement to have an awesome trading experience.

Based on popular demand, the Prestmit app for trading bitcoin is the best app for selling bitcoin in Nigeria. The fact that the app is built with love and allows users to enjoy a wonderful trading experience makes it the best option in this part of the world.

Prestmit gives the best rate for bitcoin in Nigeria. Currently, $100 Bitcoin is #67,000 on the Prestmit app at the rate of 670 and this is the best rate you can get anywhere.

How to Sell Bitcoin Using Prestmit App

Prestmit’s customer base has grown because its users always have the best trading experience. It is therefore important to let you know how to sell bitcoin using its app when you know the bitcoin price. Listed below are the simple and quick ways to sell bitcoin in Nigeria using the Prestmit app.

  1. Download the Prestmit app from Google Play Store or App Store, and sign in with your details.
  2. Click on “Buy and Sell Cryptocurrency
  3. Click on “Sell Cryptocurrency
  4. Select “Sell BTC
  5. Copy Bitcoin Address on the Bitcoin Wallet page: You’ll be asked to generate a permanent  Prestmit BTC wallet if you didn’t have one before.
  6. Confirm Default Fiat Wallet: You can choose either the Naira or Cedis wallet to be the default fiat wallet where you’ll receive the payment automatically.
  7. Receive Bitcoin from an external address.
  8. Wait a few minutes for the blockchain to give three confirmations on the transaction. The status of your trade will show “PENDING” during this time
  9. When the trade reads “SUCCESSFUL“, you can withdraw your fund.

Conclusion

The price of bitcoin and other crypto assets is currently down. Investors who need to buy or sell bitcoin need to look for where to get good rates like Prestmit. You can also get the latest bitcoin news in Nigeria on this platform.

 

 

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