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How To Sell Bitcoin In Nigeria In 2022

Bitcoin is a cryptocurrency that avails you with the freedom of using/spending your money at will, without being ripped off by the wolves disguised in banks and government charges. With Bitcoin, you are independent of any financial regulation being put in place by the central bank or the government. This is where the decentralized feature of Bitcoin (cryptocurrency) comes to play.

Therefore, Bitcoin is considered one of the easiest ways to transfer money from one person(origin) to the other (destination), often called a peer-to-peer financial system without any intermediary.

Did you know? Bitcoin consideration as an alternative to financial transactions stems from prevalent rip-offs, scams, and scandalous activities of banks and thr government in the form of exploitative charges and taxes.

In translation, the emergence of the Bitcoin blockchain is in response to the oppressive and unfair actions of some persons of affluence and influence who make wealth creation and distribution uneven to the common man. But with a cryptocurrency like Bitcoin, this lacuna has to an extent leveled up to make wealth evenly distributed.

The ideation of Bitcoin for an intended purpose came to fruition in 2008 when people began to be perplexed at the rate their money saved in banks was being misappropriated. The realization of being duped got dawned on them following their understanding of the rigging system being employed by banks to charge them more while transacting with their money.

The bid to reverse this pervasive trend in the banking sector led to the decision made by Bitcoin pioneers, which is to put sellers in full charge, eliminate the middlemen (banks), annul interest fees, and have transparent transactions that expunge corruption and reduce fees, hence launched Bitcoin in 2009.

Is Bitcoin Transaction Safe?

World business magnates like Mark Zuckerberg, Elon Musk, Warren Buffet, to mention a few have already thrown weight behind adopting Bitcoin as a transaction tool. It could be recalled that Tesla CEO Elon Musk approved using cryptocurrency, especially Dogecoin as a method of payment in the company.

However, giant companies like Microsoft, Reeds, Dell, etc are also supporting the acceptance of Bitcoin as a mode of payment.

It is then safe to infer that there is a rapid rate at which businesses across the globe are embracing the financial innovation in the feature of Bitcoin to ace their business, while others are mulling over joining the bandwagon of Bitcoin adoption. Today, thousands of e-commerce platforms accept Bitcoin as a means of payment, meaning they can be tendered in exchange for goods and services.

Bitcoin Exchange In Nigeria

In times past, Nigerians were wary of performing transactions with Bitcoin, due to fear of scams. But with an enhanced technology put in place to safeguard crypto loss, such fear has been allayed. Nigerians are beginning to foster their trust in cryptocurrency while trading in Bitcoin steadily.

It is good news that you can safely transact in Bitcoin or other cryptocurrencies without being scammed with your hard-earned money. So in this post, you will be learning how to easily sell your Bitcoin and different platforms on which you can sell your Bitcoin in Nigeria.

How To Sell Bitcoin In Nigeria

1. Create an account with a platform of your choice to generate a Bitcoin wallet address.

2. Select Bitcoin (BTC) in the “sell” field and Nigerian Naira (NGN) for the currency in the “recipient” field.

3. Select your recipient by adding the recipient and email address.

4. Enter your Bitcoin wallet address, which is necessary for the event of failed transactions.

5. Review and confirm payment.

6. Send Bitcoin to the recipient’s address.

7. Wait for confirmation.

Best Platforms To Trade Bitcoin In Nigeria

1. Prestmit

Prestmit is a peer-to-peer exchange platform that enables you to sell Bitcoin and other cryptocurrencies like Litecoin, Tether (USDT), etc. Launched in 2017, Prestmit is renowned for its credibility and reliability to make Bitcoin transactions faster than you can imagine.

Recently, it just launched a new app to make crypto trading an experience to relish in Nigeria. Prestmit app is available both on Google Play Store and Apple iOS store. Credit to Prestmit, Nigerians are beginning to have much trust in Bitcoin trading.

2. Luno

Luno is a Bitcoin exchange platform that avails you with the opportunity to buy and sell Bitcoin and Ethereum easily in Nigeria. As interesting as the platform is, Luno is already gathering momentum to earn the trust of Bitcoin traders in Nigeria. This is hinged on the sophistication of its technology and user-friendly interface.

3. Kraken

Another cool platform to sell your Bitcoin in Nigeria is Kraken. Do check out Kraken if want to sell your cryptocurrency. Reputed as one of the world’s biggest Bitcoin exchange platforms, users are provided with a variety of options to deposit funds to sell or buy Bitcoin. The transaction can be achieved in Kraken with the use of SWIFT, SEPA, bank wire, and ACH.

4. Quidax

Quidax is a Bitcoin exchange you can sell your Bitcoin on. It is considerably user-friendly as it is easy and safe to use. Interestingly, Quidax has one of the fastest deposit and withdrawal systems.

5. Remitano

The existence of Remitano in Nigeria’s crypto trade space cannot be undermined. The exchange platform is simple and friendly to use as they offer remarkable customer service. Owing to its swap and investment feature, Remitano is one of the reliable platforms to sell your Bitcoin in Nigeria.

6. LocalBitcoins

LocalBitcoins was founded in 2012, and it’s considered one the best platforms to sell Bitcoin in Nigeria. It is characterized by over thirty (30) payment options with a unique and simple interface.

7. BuyCoins

BuyCoins provides a great Bitcoin exchange experience. You can easily buy and sell Bitcoin on this platform, in Nigeria. It has a fast payment system with a simple transaction process. BuyCoins is proudly 100% Nigerian, hence its interface is well simplified for Nigerians.

Conclusion

Following the advent of advanced technologies in Nigeria’s business world, there is hope for Bitcoin to be introduced to business’ mode of payment in the future. Moreover, the aforementioned has shed more light on how to sell Bitcoin in Nigeria.

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