Updates

How To Sell Crypto on Prestmit

To make it easy for all our customers, in this guide, we have taken our time to explain in detail, the process of selling any Crypto on PRESTMIT. Be it Bitcoin, Litecoin, or Dogecoins, they all follow the same process.

Here are some frequently asked questions:

  1. How long does trading take?

Answer: An average crypto trade time on Prestmit is 10 to 30 minutes. What this simply means is that within 10-30 minutes, your crypto trade should be completed. It might take shorter or longer depending on the crypto network and sending fee.

  1. How do I get paid?

Answer: IMMEDIATELY the trade is completed, you can withdraw your money either in Naira or Cedis. Depending on your default fiat wallet.

3. How do I set DEFAULT FIAT WALLET? 

Default fiat wallet is the wallet your crypto payment will be paid into, either NAIRA or CEDIS. On the crypto wallet page, you will see the option, just toggle between the two options to set it.

sell crypto default wallet

  1. When can I trade on Prestmit?

Answer: We operate 24/7 so you can trade anytime you want. We also have a live chat available on the platform, so whenever you need any form of help, don’t hesitate to ask or send an email to [email protected]

HOW TO TRADE CRYPTO ON PRESTMIT

Before you start trading crypto on our platform, you need to generate your PRESTMIT CRYPTO wallet. If you don’t have this, please generate one on the Crypto Wallet page.

CREATE BITCOIN WALLET

Once your Crypto Wallet address has been generated, it becomes yours permanently. You can then save this address somewhere and receive crypto with it anytime!

To sell CRYPTO, the process is automated:

Any crypto sent to your wallet address, after getting 3 confirmations, will be automatically converted to NAIRA using the current rate. Current rates can be found on the wallet pages. This means that if you send $100 worth of bitcoin and the rate is 460, your naira account will be credited with 46,000 naira after the bitcoin gets 3 confirmations, if your default wallet is NAIRA. If your default wallet is CEDIS, the equivalent will be credited to your CEDIS WALLET.

There is a rate table on the app where you can check for current rates.

check crypto rates

Explaining Crypto Rates On Prestmit:

Screenshot 2022 02 17 At 03.42.27

Less than 100 = The USD value of your crypto is less than 100$.

According to the screenshot above, it means the rate for this is 500 naira per dollar. For instance, for $60, you will get 500*60 = 30,000 naira.

If CEDIS is your default wallet, our system will automatically convert the naira to cedis using the current cedis conversation rate.

The rate changes often based on the current market rate. Your crypto will be converted according to the current rate.  If the crypto you sent is not in USD, our system will convert it to USD automatically first.

What Happens After Sending Crypto?

After sending crypto to your address, you may be wondering: “Do I have to do anything?” “How long till I get a confirmation?”. This and many more of your questions will be answered below.

FAQ 1: Do I have to do anything?

ANSWER: No, you don’t have to do anything. Just wait.

FAQ 2: How long do I have to wait?

ANSWER: The naira equivalent is added to your balance after 3 confirmations from the crypto network. This usually takes approximately 15-30 minutes and is done to avoid fraud and ensure transaction reputability. If your transaction is taking too long, that means the network fee used when sending was low or the crypto network is congested, kindly be patient. Feel free to contact us.

FAQ 3: Can I send crypto from any country?

Answer: Yes! You can send crypto from any country, from any wallet, and also from any crypto ATM machine.

FAQ 4: What is the limit?

Answer: There is no minimum or maximum limit.

Note that your crypto cannot be stored on the platform because it will ALWAYS be converted to naira or cedis automatically.

FAQ 5: Is it safe?

Answer: Prestmit is equipped with modern security tools to help secure your account at all times. These include a centralized security architecture that secures all components and layers within the platform.

DO YOU NEED HELP?

If you need help concerning anything, you can reach out to us:

We have a live chat available on the platform, so whenever you need any form of help, don’t hesitate to reach out. The response is instant. Also, you can send an email to [email protected]